Chinese vanadium pentoxide (V2O5) producers may be unable to achieve their scheduled production ramp-up plans in 2019 due to cost pressures stemming from the comparatively low V2O5 price so far this year and persistent stringent environmental inspections across the country, market sources told Fastmarkets MB. Many Chinese V2O5 producers planned to ramp up their operations in 2019, encouraged by ha...Read More

Base metals traded on the London Metal Exchange broadly closed up at the afternoon kerb on Tuesday June 25, while a spate of short-covering meant healthy trading volumes drove gains across the majority of the complex.Marginal headway made in US-Sino trade negotiations, with US President Donald Trump and China's Xi Jinping set to meet at the G20 Summit in Japan this week, is supporting risk sentime...Read More

Based on the big jump in gold contract open interest and the spike up in EFP/PNT transactions, it's likely the banks have been setting the trap for another massive open interest liquidation price control operation.During periods of aggressive price control, the activity of PNT/EFPs also soars. These transactions avoid settlement in 100 oz Comex bars per basic contract terms. Instead, it's...Read More

Weakness persisted in the seaborne coking coal spot market on Tuesday June 25 with participants in both the China and ex-China segments keeping to the sidelines amid poor demand."End users' interest in seaborne coking coal cargoes is thin amid weakness in the metallurgical coke market," a Chinese trading source said.A second Chinese trader said that offers for premium low-vol hard coking coal rema...Read More

China's hot-rolled coil producers raised export prices on Tuesday June 25 amid continual gains in the domestic market.DomesticEastern China (Shanghai): 3,910-3,920 yuan ($568-570) per tonne, up 10-20 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, up 10-20 yuan per tonnePrices rose further during the day with more and more participants becoming more bullish about the market.The...Read More

Gold prices climbed to a fresh six-year high Monday, while the U.S. dollar extended declines and some European government bonds hit new all-time lows, as investors retreated into risk-free assets ahead of this weekend's G20 Summit in Japan and simmering military tensions in the Gulf Region. Spot gold prices hit $1,438.63 per ounce in overnight trading, the highest since May 2013, before par...Read More

Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | Android | Email | Stitcher | RSSA $10,000 gold price, EMPTY vaults, bank holidays, and the GLD & SLV going belly-up! Harvey explains in this explosive interview...Harvey Organ of Harvey Organ Blog interviewed by Half DollarHey there stackers and other smart investors!Here's a very important interview about the current state of the g...Read More

What is it that has prevented both the CFTC and the Justice Department from upholding commodities law when it comes to JPMorgan?by Ted Butler of Butler Research via SilverSeekRecent developments indicate, almost beyond question, that when it comes to silver (and gold), JPMorgan is operating in direct violation of the law. So clear is the proof of this allegation that the only real question is why...Read More

Prices for imported billet in the United Arab Emirates weakened over the past week, in line with lower offers and a lack of demand, sources said on Tuesday June 25.Domestic rebar The domestic rebar market in the UAE was sluggish due to a drop in demand during the summer period. The UAE's largest producer, Emirates Steel, was offering rebar at 1,881 dirhams ($512) per tonne ex-works this week, whil...Read More

Iron ore prices retreated further on Tuesday June 25 due to the expectation of falling demand amid restrictions on steelmakers in China's steel production hub of Tangshan.MB 62% Fe Iron Ore Index: $114.46 per tonne cfr Qingdao, down $2.31 per tonne. MB 62% Fe Pilbara Blend Fines Index: $113.26 per tonne cfr Qingdao, down $2.31 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $115.71 per tonne cfr...Read More

Here are five Fastmarkets MB stories you might have missed on Tuesday June 25 that are worth another look.Some of Jiangxi Tungsten Holding Group's tungsten mines have had to cut production due to floods caused by heavy rain since the start of June in China's Jiangxi province, with some market sources expecting this to cap the downtrend in tungsten concentrate prices. Static trading conditions...Read More

The premium for copper cathodes in the United States has moved for the first time since May 14, widening downward amid ample supply and a slowdown in spot trading.Fastmarkets AMM assessed the US copper cathode premium at 7.25-8 cents per lb delivered to the Midwest on Tuesday June 25, widening from the previous range of 7.5-8 cents per lb.Market sources credited strong supply and muted demand for...Read More

Both copper and zinc's three-month prices on the London Metal Exchange were elevated during morning trading on Tuesday June 25, breaching the nearby resistance levels while a weaker US dollar index fueled further buying momentum.The red metal's three-month price has been trading in a narrow range between $5,900-6,000 per tonne over June, while physical market participants continue to indicate a hi...Read More

Location map of Purepoint's western Athabasca projects. (Image: Purepoint Uranium)SASKATCHEWAN - Toronto-based Purepoint Uranium Group is preparing for the restart of exploration at the Smart Lake joint venture in the southwest portion of the Athabasca Basin. This is a partnership of Purepoint (27%) and Cameco Corp. (73%)Purepoint has been active at the Hook Lake project and the Patterson Lake cor...Read More

Base metals prices on the Shanghai Futures Exchange were up across the board during Asian morning trading on Tuesday June 25, with a softening dollar helping to ease the bearishness engulfing the market amid continuing geopolitical uncertainty.The dollar index, which measures the value of the US dollar against a basket of foreign currencies, fell by 0.08% to 95.93 as at 10.27am Shanghai time. This...Read More

The Commonwealth of Independent States' (CIS) export billet market has started to show signs of recovery, with market participants' sentiment positive amid increased steel prices in China and a plateau in Turkish import scrap prices."I think we have hit the bottom for now perhaps. At the end of the day, final customers are still demanding and rebar is still being sold. Let's see what level the nex...Read More

European distributors of flat steel products reported a 3.8% year-on-year drop in shipment volumes in the first four months of 2019, Eurometal said this week.Fastmarkets' weekly price assessment for domestic hot-rolled coil (HRC) in Northern Europe was ?,?485-500 ($552-569) per tonne ex-works on June 19. Prices had been falling since the middle of May due to poor demand, but&nb...Read More

RAPAPORT... De Beers' rough-diamond sales slumped to a 20-month low of $390 million in June amid weak sentiment in the manufacturing sector. Sightholders noted the price cuts De Beers implemented on certain categories were not enough to stimulate demand. "The reaction to the price adjustments was lukewarm," observed one Antwerp-based manufacturer who attended last week's sale in Gaborone...Read More

Most prices for flat steel products imported in the United Arab Emirates (UAE) and Saudi Arabia decreased over the past week, except for hot-dipped galvanized (HDG) coil, while demand for material was limited, sources said on Tuesday June 25. UAE Offers for hot-rolled coil (HRC) were at around $500-510 per tonne cfr India and Japan, but no major deal was heard because of weak end-user demand. Work...Read More

RAPAPORT... Gem Diamonds has recovered a 135-carat yellow at its Let??engmine in Lesotho, the third significant colored-diamond discovery at the depositthis year. The company retrieved the high-quality, type I stone on June21, three months after the mine yielded a similar quality yellow diamondweighing 134 carats. Those discoveries follow a two-year gap in the recovery ofyellow diamonds weighing m...Read More