Troubled UK long steel producer British Steel entered compulsory liquidation on May 22. Fastmarkets examines the reasons behind the company's recent struggles, from uncertainty about Brexit and a slump in orders, to rising costs for raw materials.Brexit uncertaintyThe future of British Steel remains uncertain, with the UK's Insolvency Service approaching "more than 80 potential trade purchasers" t...Read More
SD Midweek Update: Silver's price is about to get a boost that will drop the naysayers' jaws to the floor with shock and dis-belief. Here's why...This is important to understand.What is?This is: Once the classic muscle-car, gold, takes off from the line, It's a roaring, beautiful display of strength and power, but once the sleek sports-car, silver, takes off from the line, it begins with excitemen...Read More
Keith says we have interesting data in the gold-to-silver ratio, and would be silver buyers are coming under pressure. Here's why...by Keith Weiner of Monetary-MetalsWe have been discussing the impossibility of China nuking the Treasury bond market. We covered a list of challenges China would face. Then last week we showed that there cannot be such a thing as a bond vigilante in an irredeemable...Read More
Because nothing could be more serious than if prices of important commodities are being set artificially...by Ted Butler of Butler Research via Silver SeekAbout 30 years ago, my wife arranged for our then ten-year old son to attend a sleep-away YMCA summer camp in Tallulah Falls, in the Georgia Mountains. While Ross wound up going back to the same camp for several years, eventually serving as a c...Read More
The benchmark copper price London Metal Exchange ended 1.5% lower on Wednesday June 5, leading the rest of the base metals lower.The three-month copper price closed at $5,807 per tonne, not far above its 2019-to-date low of $5,725 per tonne. "Our technical indicators suggest LME copper is still in a prevailing downtrend. We would not be surprised by renewed selling pressure," Fastmarkets base...Read More
Indians are purchasing silver hand-over-fist, and while this demand hasn't affected price just yet, SRSrocco says wait until this happens...by Steve St Angelo of SRSrocco ReportWhile silver investment demand in the West continues to remain weak, Indians are purchasing the white shiny metal hand over fist. In just the past six months, U.S. silver exports to India have exploded to record highs....Read More
Nickel market analysts were resolutely bearish during a pricing panel at the Fastmarkets' seventh International Nickel conference in Amsterdam on Wednesday June 5, forecasting that the London Metal Exchange three-month nickel price is unlikely to breach $13,000 per tonne this year. The LME three-month price is currently trading below $12,000 per tonne, hitting an intraday high of $11,860 per...Read More
China's hot-rolled coil prices slid further on Wednesday June 5 amid persistently thin trading, though some exporters showed little willingness to sell any lower.DomesticEastern China (Shanghai): 3,870-3,880 yuan ($561-562) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,800-3,810 yuan per tonne, narrowing downward 10 yuan per tonnePrices continued to drop, with trading being thinner...Read More
Is Gold finally about to break out from a 5-year bullish ascending triangle pattern? We will find out very soon!The price action of Gold since 2014 looks to be a series of flat tops and rising bottoms. It could be forming what is called a "Bullish Ascending Triangle" which is highlighted in blue at (1). Two-thirds of this time this pattern leads to an upside breakout.The top of the pattern comes i...Read More
The price of copper was hammered on Wednesday amid mounting worries about the impact of a trade war between the world's two largest economies and a global slowdown in manufacturing.In early afternoon trading in New York, copper for delivery in July touched a low of $2.62 a pound ($5,775 a tonne), down nearly 2% from Tuesday's settlement. Copper is now trading more than 20% below levels seen this t...Read More
The world's 40 largest mining companies showed steady growth in 2018 and consolidated the positive performance they had over the past several years, a new report by PwC revealed.In its Mine 2019: Resourcing the future report, the multinational professional services network states that, as a group, the top 40 mining firms increased revenue by 8% to $683 billion, buoyed by higher commodity prices an...Read More
The Vice President of Ecuador, Otto Sonnenholzner, and the Minister of Energy and Non-renewable Natural Resources, Carlos P?(C)rez, presented the country's new Public Mining Policy, with the focus on supporting large-scale operations and investments, and eradicating illegal mining.The announcement was made during a visit to the southern Zamora Chinchipe province, where Lundin Gold's (TSX:LUG) flag...Read More
Prices for rebar produced and delivered in Southern Europe widened upward by ?,?5 per tonne on Wednesday June 5 on limited trading, but weak demand continued, market participants told Fastmarkets.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe rose to ?,?495-515 ($557-579) per tonne delivered on Wednesday from ?,?495-510 per tonne delivered on May 29."The price has...Read More
Key data from the Wednesday June 5 pricing session in Europe.Key drivers- The European ferro-titanium price fell for the second consecutive week after six weeks of stability. - Demand for ferro-titanium was muted short term, although one source said it had picked up over the past week.- One...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday June 5 that are worth another look.Nickel market analysts were resolutely bearish during a pricing panel at Fastmarkets' seventh International Nickel conference in Amsterdam on Wednesday June 5, forecasting that the London Metal Exchange three-month nickel price is unlikely to breach $13,000 per tonne this year. ArcelorMittal...Read More
The London Metal Exchange hopes to drive nickel stocks back onto the exchange with new warehouse proposals to be announced in the summer, vice-president of sales Alberto Xodo said on Wednesday June 5.LME nickel stocks dropped to around 160,000 tonnes on June 3-4 this year, compared with 446,676 tonnes in January 2016, when the LME warehouse reform to end delivery queues was implemented."The wareho...Read More
Two uranium mining companies said on Wednesday they are "confident" that U.S. President Donald Trump will implement limits on uranium imports after the Commerce Department recommended urgent steps to boost domestic production of a list of 35 "critical minerals" that included the nuclear fuel.The White House is currently reviewing a petition lodged by the companies, Ur-Energy and Energy Fuels, that...Read More
Purepoint Uranium Group of Toronto has offered an update on work planned for the Hook Lake uranium project. Purepoint (21%) sat down with its joint venture partners Cameco (39.5%) and Orano Canada (39.5%) to review data and develop the next steps to advance the project.There are three areas of particular interest. The North Dragon area lies 800 metres west of and parallel to the Dragon shear zone....Read More
Tin flows into the London Metal Exchange late in May and June are beginning to put pressure on tin premiums basis the regions we follow, with the US ingot premiums narrowing downward on Tuesday June 4. An additional influx to LME Baltimore warehouses pressured US premium down. European premiums hold with futures prices closer to today's. Chinese premiums extend lengthy flatline trend....Read More
The Patterson and Derkson uranium corridors. (Image: Purepoint Uranium)SASKATCHEWAN - Purepoint Uranium Group of Toronto has offered an update on work planned for the Hook Lake uranium project. Purepoint (21%) sat down with its joint venture partners Cameco (39.5%) and Orano Canada (39.5%) to review data and develop the next steps to advance the project.There are three areas of particular interest...Read More