Here are five Fastmarkets MB stories you might have missed on Monday April 1 that are worth another look.The United States has challenged European Union proposals to label titanium dioxide and cobalt as carcinogens on free-trade grounds. As consumer inventories of cobalt start to run low, their metal restocking alone is unlikely to establish a floor in ailing prices, such is the believed exte...Read More
* GRAPHIC-2019 asset returns: (Adds closing prices, Zinc stocks)By Zandi ShabalalaLONDON, April 1 (Reuters) - Nickel prices ended higher onMonday after positive factory data from top steel producer Chinaraised hopes for higher demand, while inventories fell.Factory activity in China unexpectedly grew for the firsttime in four months in March, an official survey showed onSunday, suggesting governme...Read More
Vancouver, BC - IsoEnergy Ltd. (TSX-V: ISO | OTCQX: ISENF) (the "Company" or "IsoEnergy"), is pleased to announce assay result for drill holes LE19-09, LE19-10 and LE19-11. The highlight is drill hole LE19-09, which intersected 4.5m of 4.2% U3O8, including 2.0m of 6.8% U3O8. Drill hole LE19-09 was collared 30 metres to the west of drill hole LE18-01A, the original Hurricane zone discovery dr...Read More
Montr?(C)al, QC - Siyata Mobile Inc. (TSX-V:SIM | OTCQX: SYATF) (the "Company" or "Siyata"), is pleased to announce it has received its first purchase order from a Tier 1 US Cellular Carrier, for its flagship Uniden (R) UV350 marking a significant milestone for the Company both as an official vendor to the carrier and receiving its first order from a major United States customer.The Unid...Read More
The price of domestic ferro-chrome in China fell in the week ended Friday March 29 on lower offers from suppliers trying to tempt stainless steel consumers to buy, while the price of imported alloy was stable due to supply concerns. Domestic alloy prices in China drop prior to VAT cut Tenders in Japan see ferro-chrome price rise Imported ores into China rise Rise in the top end...Read More
In an interview I did last week with USA Watchdog's Greg Hunter, I came across as a lukewarm gold bull. Although many of those who commented apparently agreed with my grim deflationary scenario for the global economy, the negative implications this could have for gold did not resonate with Greg's audience.In fact, I see significant appreciation potential for gold, although not to the celestial...Read More
By: David Chapman Elliott Wave International (www.elliottwave.com) (EW) recently noted an interesting piece of market symmetry in an addendum to its March 2019 Elliott Wave Theorist dated March 26, 2019. We thought it interesting enough to repeat it to the readers of the Technical Scoop. What EW showed was how the topping process of 2018-2019 has mirrored to a "striking degree" the topping p...Read More
Copper concentrate treatment and refining charges (TC/RCs) for Asia Pacific continued to drop in the second half of March in the absence of Las Bambas output, while Chinese smelters are prepared to accept significantly lower spot TCs for the second quarter this year. Fastmarkets' spot copper concentrate index for Asia Pacific was calculated at $66.7 per tonne/ 6.67 cents per lb on March 25, d...Read More
As consumer inventories of cobalt start to run low, their metal restocking alone is unlikely to establish a floor in ailing prices, such is the believed extent of the surplus, according to Fastmarkets' market sources. Trader and consumer buying returned to the cobalt market in earnest last week for the first time in the best part of a year, but the restocking does not signal the beginning of a ret...Read More
With the international cobalt metal market falling rapidly between December 2018 and February this year, the arbitrage between the international and Chinese cobalt metal price has gradually turned in favor of Chinese imports. As a result, Chinese buyers have been considering increasing their shipments of cobalt metal since February with an expectation international cobalt prices are close to botto...Read More
Royalty & Streaming is acquiring a royalty on the San Luis property, above, of SSR Mining. Source: Metalla Royalty & Streaming Ltd.Metalla Royalty & Streaming Ltd. [MTA-CSE; MTAFF-OTCQB; X9CP-FSE] said Monday April 1 that it has struck a deal to acquire a portfolio of 18 royalties from Alamos Gold Inc. [AGI-TSX, NYSE] for $11.5 million, payable in common shares of Metalla.The acquisit...Read More
Prices for shipbreaing scrap prices in Turkey have gone down slightly this week with one steel mill reducing its buying prices, but auto bundle scrap prices remained stable over the past week, sources said on Monday April 1.Fastmarkets' weekly price assessment for Turkish domestic melting scrap from shipbreaking was $320-325 per tonne on April 1, narrowing downward from the $320-330 per tonne deli...Read More
An artist's rendering of the Tres Estradas phosphate mine in Brazil. Source: Aguia Resources Ltd.Aguia Resources Ltd. [AGRL-TSXV; AGR-ASX] shares advanced Monday April 1 after the company said it has raised $874,708 from a private placement financing, and expects to bring in an additional $200,000 from loans provided by certain officers and directors.The non-brokered private placement consists of...Read More
Editor’s Note: This story was previously published in February, 2019. It has since been updated and republished.The 2018 midterm elections made clear that Americans preferred legalization over the continued prohibition of pot, which should bolster the case for the top marijuana penny stocks.When residents in California voted for full recreational weed, it boded well not just for marijuana pe...Read More
Turkish steel mills continued to hold back from the deep-sea scrap markets to watch which way the market moves after the mayoral elections held across the country yesterday, sources said on Monday April 1.The main opposition Republican People's Party (CHP) has claimed victories in the coastal Aegean and Mediterranean provinces, as well as in major cities including Istanbul. It also claims to have...Read More
The Monday Market Minute Global stocks gain as China records the strongest reading of manufacturing activity in eight months in March, raising hopes that Beijing's stimulus plans can support the world's second-largest economy.Weaker factory activity readings in Japan and Germany cap gains, however, as trade war concerns linger ahead of this week's visit to Washington by China' Vice Premier Liu H...Read More
Better Chinese manufacturing data has surprised the market and boosted three-month base metals prices on the London Metal Exchange by an average of 1% this morning, Monday April 1.Nickel led the way with a 2.2% gain to $13,285 per tonne, up from Friday's close at $12,995 per tonne, while tin was the laggard with a 0.4% gain. Aluminium, zinc and lead were all up by 0.9%, while copper was up by 0.7%...Read More
The European Commission (EC) has published a secondary regulation that lays down how it will assess and authorize conflict mineral due diligence schemes. The schemes can be used by European Union metal importers to demonstrate they have not sourced product from mines and smelters associated with human rights abuses.This new regulation (EU) 2019/429 'on methodology and criteria for the assessment a...Read More
Oil has some great momentum behind it right now.The price of WTI crude topped $60 on Friday, ending its best first quarter in a decade.Looks great.Next stop: $100, right?Well, while oil does seem to have some muscle behind it (and I do think prices are headed a bit higher), I think we should reign in our expectations.Two bullish factors pushing oil higher last week were a decline in both U.S. acti...Read More
With the international cobalt metal market falling rapidly between December 2018 and February this year, the arbitrage between the international and Chinese cobalt metal price has gradually turned in favor of Chinese imports. As a result, Chinese buyers have been considering increasing their shipments of cobalt metal since February with an expectation international cobalt prices are close to botto...Read More