Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
1. Top US politicians describe the US economy as the "mightiest of all time". 2. Please click here now. Houston, we have a problem! The next tariff tax deadline is now only about three weeks away. 3. While Trump's diehard fans may want him to hike these taxes again if China doesn't "play ball", massive FOREX liquidity flows suggest that the world's biggest money managers are...Read More
The three-month nickel price traded on the London Metal Exchange continues to languish below $15,000 per tonne at the close on Tuesday November 19 while fresh inflows continue to pressure nickel futures. LME nickel stocks have fallen by 60% in just over two months to 66,174 tonnes from 166,680 tonnes on September 12 but the LME three-month nickel price has been on a general downtrend over the same...Read More
The three-month nickel price on the London Metal Exchange continued its downtrend during morning trading on Tuesday November 19, with price action coming under downward pressure from fresh inflows. Nickel's outright price was recently at $14,575 per tonne, while just over 2,000 lots were exchanged as of 9:15am London time. The metal's underlying price has been falling since reaching a 2019-high of...Read More
While equity markets in the United States have pushed up to and are holding near record highs, the industrial metals are by comparison weak.This suggests global industry is still unsure about whether a post-trade war rebound is on the cards, or whether a trade deal will even emerge. Haven assets are back in demand while trade uncertainty dominates.London Metal Exchange three-month nickel price fal...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday November 19 that are worth another look.Flat-rolled steel sales volumes from Brazilian distributors rose by 18.3% year on year in October, outpacing purchases and leading to a decline in stocks, steel distributors' association Inda said on November 19.Next year will be a "transitional year" for the nickel market ahead of a shift...Read More
Bob Moriarty ArchivesNov 19, 2019As of November 18th, sentiment for The S&P futures and the Nasdaq Index is approaching nosebleed territory. The infusion of hundreds of billions of dollars on the Fed’s balance sheet since Mid-September has pumped the stock market higher in response. But no matter how big the balloon, if you keep puffing it up, sooner or later it is going to blow. The DSI...Read More
Chinese portside manganese ore prices rose for the first time since August on Friday November 15 after many ore traders held back from offering and those that did offer raised their prices in response to the concentration of inquiries, market sources told Fastmarkets. Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin China climbed to 32.10 yuan ($4.57) per dry metr...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comNov 19, 2019Top US politicians describe the US economy as the “mightiest of all time”. Pleaseclick here now.Houston, we have a problem! The next tariff tax deadline is now only about three weeks away. While Trump’s diehard fans may want him to hike these taxes again if Ch...Read More
South Africa needs a 40% tax on exports of chrome ore while it grapples with rising electricity costs from Eskom and a subdued demand outlook, according to Afarak's chief operating officer, Danko Koncar. The price for ferro-chrome, high carbon 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe slumped to a ten-year low of $0.70-0.80 per lb in August this year, amid a surplus of material and...Read More
Strategic & Precious Metals Processing's (SPMP) antimony and gold processing facility in Sohar, Oman, has produced its first commercial grade 99.65% antimony metal and has met keen interest from potential buyers looking to diversify their supply sources, parent company Tri-Star Resources said on Tuesday November 19. The producer is now focused on achieving full-scale commercial production and is t...Read More
The FTSE100 closed higher in London and Australasian markets were mixed yesterday, as were market futures.IG market analyst Kyle Rodda noted there was growing confidence of a "smooth Brexit" in the UK and hopes for further economic stimulus after a move by the People's Bank of China to boost liquidity in the country's financial system, however the positivity was "washed out" by the pessimism.Meanw...Read More
The rail workers' union, Teamsters Canada Rail Conference, announced months of negotiations broke down with CN "unwilling to address safety issues".According to the union, CN currently requires members to operate trains alone from outside of the locomotive, hanging on to moving trains with one hand while operating a remotely controlled locomotive with the other. Railroaders are expected to do this...Read More
Chilean Metals CEO Terry Lynch launched the group yesterday, to lobby for regulatory changes which he said had created severe challenges for juniors such as "predatory short selling". The group is pushing for two outcomes - to restore the no short on the uptick rule or abolish short selling on listed companies under $250 million; and secure a public commitment from investment banks to allow l...Read More
Turkish steel producers made no new deep-sea bookings on Tuesday November 19, as they paused to digest the latest upturn in prices, market sources said.A European cargo sent the daily scrap indices up by almost $5 per tonne at the start of the week, but mills were still worried about the limited demand for long steel products.A steel mill in the Iskenderun region booked the European cargo, which c...Read More
A couple of weeks ago, I was in Lima, Peru, attending the Mining & Investment Latin America Summit. I heard from a number of industry leaders that mining in South America has become more challenging in recent years. One of the biggest reasons why is that the burden for taking care of local communities has, in many cases, fallen on the miners' shoulders. Venezuela's corrupt socialist president Ni...Read More
By: Ira EpsteinGold looking at $1,485 area as the next big test, possibly over the coming day(s). Coming from an oversold condition..Read More
While equity markets in the United States have pushed up to and are holding near record highs, the industrial metals are by comparison weak.This suggests global industry is still unsure about whether a post-trade war rebound is on the cards, or whether a trade deal will even emerge. Haven assets are back in demand while trade uncertainty dominates.London Metal Exchange three-month nickel price fal...Read More
Next year will be a "transitional year" for the nickel market ahead of a shift into a structural deficit in 2021, Denis Sharypin, head of market intelligence at Norilsk Nickel, told delegates at Fastmarkets' International Ferro-alloys Conference in Budapest, Hungary, this week. The market will strengthen as demand ramps up, especially with annual consumption from the battery sector swelling to 500...Read More
Australia's Hornsdale Power Reserve, the world's biggest lithium-ion battery plant, is set to expand capacity by 50% to 150 megawatts, according to Neoen SA, the French power producer that owns and operates the site. The $48 million project built in 2017 in conjunction with US-based Tesla Inc, has saved local energy consumers more than $50 million in energy costs over its first year of operation,...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia rose this week on higher offers, improved demand and expectations that prices will increase further, sources told Fastmarkets on Tuesday November 19.Buyers placed some bookings during the week and expect further price increases in the coming days.UAEOffer prices for hot-rolled coil from Japan were heard in the UAE at $460 per to...Read More