SHANGHAI, Feb 6 (SMM) – LME nickel inventory fell for the 10th consecutive trading day to 350,652 mt as of Monday February 5, marking the lowest level since late September 2014. Nickel inventory at SHFE was also lower for three weeks in a row, at 56,194 mt as of Friday February 2. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to...Read More
SHANGHAI, Feb 6 (SMM) –Copper: We see firm support for SHFE copper at the 53,000 yuan/mt level with both sides of the market at a standoff. In the spot market, sellers were unwilling to let go their cargoes at big discounts as the price spread between the SHFE 1802 and 1803 contracts continued to expand. We expect spot copper to trade at a discount of 40 yuan/mt to a premium of 20 yuan/mt to...Read More
SHANGHAI, Feb 6 (SMM) –Copper: We see firm support for SHFE copper at the 53,000 yuan/mt level with both sides of the market at a standoff. In the spot market, sellers were unwilling to let go their cargoes at big discounts as the price spread between the SHFE 1802 and 1803 contracts continued to expand. We expect spot copper to trade at a discount of 40 yuan/mt to a premium of 20 yuan/mt to...Read More
February06, 2018 - Vancouver, BC - ATAC Resources Ltd. (TSX-V:ATC) ("ATAC" or the "Company")announces exploration results and project developments from its 100% owned, 660 km2Rau Project located at the western end of theCompany's Rackla Gold Property, Yukon.Theobjectives of the 2017 Rau Project exploration program were to improve the knowledgebase related to existing targets along trend from the T...Read More
CALGARY, Alberta, Feb. 06, 2018 (GLOBE NEWSWIRE) -- Copper Fox Metals Inc. (“Copper Fox” or the “Company”) (TSX-V:CUU) (OTC:CPFXF) is pleased to provide its shareholders an outline of the 2018 program for the Schaft Creek copper-gold-molybdenum project located in northwestern British Columbia. The Schaft Creek project is managed through the Schaft Creek Joint Venture...Read More
Base metals traded on the London Metal Exchange are all under downward pressure this morning, Tuesday February 6, posting an average loss of 1%. Nickel (-2.1%) is the weakest, while aluminium (-0.7%) is proving to be the most resilient. Volume has been strong with 14,903 lots traded as of 06.05 am London time. The downward pressure across the complex essentially reflects a negative spillover effec...Read More
Comex copper prices were pulled lower on Tuesday February 6 by a combination of the recent equity sell-off and a dollar increase. Copper for March settlement on the Comex division of the New York Mercantile Exchange gained 3.75 cents or 1.2% to $3.2250 per lb. The red metal dipped to a one-week low on Friday following a heavy sell-off in equity markets. "Judging by the limited pullback in the base...Read More
Seaborne iron ore prices moved up on Tuesday February 6, alongside wider margins at Chinese steel mills. Metal Bulletin's 62% Fe Iron Ore Index Today: $75.92 per tonne cfr Qingdao Daily change: Up by $0.22 per tonne Month-to-date average: $74.72 per tonne Metal Bulletin's 58% Fe Premium Index...Read More
Seaborne coking coal prices moved up on Tuesday February 6, with tightness in domestic Chinese supply heard to be fueling demand.A premium low volume cargo was heard to have traded at $231.5 per tonne cfr China this week, market sources said. "Chinese buyers have a good appetite for prompt cargoes but I am not convinced they would pay similar prices for cargoes with a laycan in March," a trader...Read More
We are in the midst of a gold bull market, and Money Morning Resource Specialist Peter Krauth says gold will trade for $1,500 an ounce by the end of 2018. But he has another shocking gold price prediction we'll reveal today…But rest assured, 2018 will be a great year for investing in gold. Krauth's $1,500 price target implies a gain of 12.62% from today's prices of $1,331.90.Today, we're...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia continued to increase this week, with demand being slightly better in the UAE, Metal Bulletin heard on Tuesday February 6.UAEHot-rolled coil (HRC) was being offered at $640-650 per tonne cfr from China, although buyers were bidding only $610-620 per tonne cfr.India offered the product at $650 per tonne cfr, with one buyer biddin...Read More
Turkish domestic auto bundle scrap prices have gone down slightly this week, while ship scrap prices have remained stable, sources told Metal Bulletin on Monday February 5.Metal Bulletin's weekly price assessment for domestic auto bundle scrap (DKP grade) was TRY1,190-1,400 ($315-371) per tonne delivered on Monday, widening downward from last week's $1,210-1,400 per tonne.The slight change in the...Read More
A summary of base metals premiums across the globe for the week to Tuesday February 6.Read More
Base metals prices on the London Metal Exchange closed the day lower across the board on Tuesday February 6, with the market getting caught up in the US equity sell-off. "Base metals have been getting hit hard today, finally getting swept up in the equity rout. The group is down across the board, with zinc and nickel both being hit especially hard," INTL FCStone analyst Edward Meir said.Despite fa...Read More
The South African mining sector must strive to build a competitive, transformed and sustainable industry, the chairperson of the Council for Geoscience said at Mining Indaba in Cape Town this week. "While there may be tough choices and tradeoffs to be made, the South African mining industry must continue to thrive and to balance sustainability, competitiveness and transformation," Dr Humphrey Math...Read More
The latest metal markets news and price moves to start the North American day on Tuesday February 6.Base metals prices on the London Metal Exchange were lower across the board during morning trading today on further profit-taking.Here is how the LME base metals complex looked at 12.04pm London time:For a snapshot of exchange news, check out our live futures report.Premiums for index-linked cargoes...Read More
TSX VENTURE: NVOwww.novoresources.com Mr. Quinton Hennigh reports:VANCOUVER, British Columbia, Feb. 06, 2018 (GLOBE NEWSWIRE) -- Novo Resources Corp. ("Novo" or the "Company") (TSX-V:NVO) (OTCQX:NSRPF) has entered into a commercial arrangement with SGS Minerals of Perth, Western Australia, to secure access to a test plant for the processing of 5 tonne bulk samples from its Karratha Gold Project. S...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday February 6*Copper -$37.80 (-238.11 yuan) Aluminium -$481.30 (-3,031.62 yuan) Zinc -$129.94 (-818.44 yuan) Nickel -$429.69 (-2,706.55 yuan) *The physical arbitrage numbers are...Read More
TSX: KDXwww.klondexmines.com Mr. Paul Huet reports:VANCOUVER, British Columbia, Feb. 06, 2018 (GLOBE NEWSWIRE) -- Klondex Mines Ltd. (TSX:KDX) (NYSE American:KLDX) ("Klondex" or the "Company") reported today a Mineral Reserve and Mineral Resource update for the Fire Creek mine ("Fire Creek") located in northern Nevada, USA.An updated technical report (the "Technical Report") titled "Technical Repo...Read More
Prices for steel rebar and ferrous scrap are likely to get continued supported from the weakness of the United States dollar and healthy demand in the coming few months, the International Rebar Producers & Exporters Association (Irepas) said this week.The US dollar has depreciated by 6.31% against the euro and by 5.65% against sterling since the beginning of the year, according to exchange rate si...Read More