Base metals price on the London Metal Exchange were mostly lower during morning trading on Monday December 17, with most metals broadly rangebound during the low-volume morning session, while looming US-China trade tensions keep investors cautious. The three-month aluminium price consolidated lower and continues to trade below $1,950 per tonne, shrugging off a 5% increase in LME stocks after just...Read More
According to China's National Bureau of Statistics released on Friday, China's primary aluminium output increased in November despite a falling price on the Shanghai Futures Exchange, leaving some market participants doubtful.After dropping three consecutive months, China's monthly aluminium output reached 2.82 million tonnes in November, which marked a 3.9% increase from 2.715 million in October...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Monday December 17*Copper -$140.8 (-973.85yuan)Aluminium -$422.13 (-2,919.65 yuan) Zinc -$35.2 (-243.43 yuan) Nickel $128.99 (892.13 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month prices...Read More
Both European and Chinese antimony prices were unchanged in the pricing week ending on Friday December 14 amid thin trading activities and persistently weak demand from downstream markets.Chinese market stagnates with unrest between sellers and consumers Fastmarkets MB's price assessment for MMTA standard grade-II antimony, delivered duty-paid, in China stood at 49,500-50,000 yuan ($7,170-7,242) p...Read More
Key data from the pricing sessions in Shanghai, New York and London in the week ended Friday December 14. United States The grade 553 silicon price fell for a ninth consecutive month because buyers remain supplied by contracts which has led to slow spot trading. The price could find upward support soon, though because spot activity is expected to be busier next year due to the decrease...Read More
The three-month base metals prices on the London Metal Exchange were for the most part little changed this morning, Monday December 17. The exception was zinc, the price of which was up by 1.3% at $2,565 per tonne. The three-month copper price was down by $1.50 per tonne at $6,139 per tonne.Volume across the complex has been above average with 6,271 lots traded as at 7.53am London time.The preciou...Read More
Rory Johnston is a commodity economist covering energy and metal markets in Scotiabank's Economics department. His research includes the Scotiabank Commodity Price Index (a monthly assessment of developments affecting the prices of major Canadian export commodities), contributions to Scotiabank's Global Outlook (the department's flagship quarterly forecast), as well as notes on various topics of i...Read More
Turkish steel producers remained out of the deep-sea scrap markets because of weakening demand for finished steel and falling prices, sources said on Monday December 17.Although some suppliers in the Baltic region reduced their offers to $300-305 per tonne cfr levels for HMS 1&2 (80:20), mills in Turkey were not enticed."I heard offers from Baltic Sea are at $300 per tonne cfr and little above, bu...Read More
If we want to know where Gold is going we should follow Gold. Right?How about following gold stocks? At times, they lead Gold.What about the U.S. Dollar? Wrong!In 2019, one market more than any other will impact Gold.That is the stock market.History argues (within the current context) that when the Federal Reserve ends its rate hikes, Gold's downtrend will be over and when the Fed cuts rates, the...Read More
Identifying early market trends is an excellent way to secure high returns and beat the index over the long-term. That said, in today's world, demand for physical cash is diminishing with the rise of secure, high-tech payment solutions. As the global payment industry is shifting from traditional methods to innovative digital technologies, companies operating within this sector provide an appealing...Read More
Gold has firmed in recent days as fears of a global economic slowdown mount. This now sees the yellow metal trading at over US$1,246 per ounce, and there are signs that it could surge higher in coming weeks. That is a boon for gold miners, which have had to weather weaker prices since the start of 2018. One small-cap miner that stands out is McEwen Mining (TSX:MUX)(NYSE:MUX), where legendary ind...Read More
If we want to know where Gold is going we should follow Gold. Right?How about following gold stocks? At times, they lead Gold.What about the U.S. Dollar? Wrong!In 2019, one market more than any other will impact Gold.That is the stock market.History argues (within the current context) that when the Federal Reserve ends its rate hikes, Gold's downtrend will be over and when the Fed cuts rates, the...Read More
A friend asked me today what I thought Powell should do. I said, "the system is screwed. It ultimately doesn't matter what anyone does. The money printing, credit creation and artificially low interest rates over the last 10 years has fueled the most egregious misallocation of capital in history of the universe.Eventually the Fed/Central Banks will print trillions more - 10x more than the la...Read More
Marc Elliott, mining analyst at Investec Securities, told Mining Journal there was a greater spread of companies "across the mid-cap range" on the TSX and ASX, "whereas in London w...Read More
Exploring the Athabasca basin in northern Saskatchewan. Source: Skyharbour Resources Ltd.Skyharbour Resources Ltd. [SYH-TSXV; SYHBF-OTCQB] has released the results of a 2018 fall drilling program at the Moore Uranium Project in Saskatchewan. The company said the program intersected new high-grade uranium at the Maverick Zone, including 3.11% U3O8 over 1.8 million within 0.56% U3O8 over 15.2 metres...Read More
McLean Lake uranium mill in the Athabasca basin of northern Saskatchewan, 22.5%-owned by Denison Mines, (AREVA 70%). Source: Denison Mines Corp.Denison Mines Corp. [DML-TSX; DNN-NYSE American] said Tuesday December 18 that it has elected to advance its Wheeler River uranium project in Saskatchewan following positive pre-feasibility study results.Denison is a uranium exploration and development com...Read More
Share this articleTORONTO - A panel at the Ontario Securities Commission has approved a $30-million settlement with Katanga Mining over the company's misleading statements and its failure to properly disclose the risks of operating in the Democratic Republic of the Congo.Katanga, majority owned by Swiss mining giant Glencore Plc, says as part of the settlement it will make a $28.5-million payme...Read More
On April 17, 1793, three French soldiers broke into the tomb of Michel de Nostredame, a man we know as Nostradamus.Legend has it that one man, a Corporal Adelaide, picked up the skull in an attempt to gain the power of the long-dead seer.His fellow soldiers bore witness that his eyes opened wide as he gained full knowledge, then was immediately struck down and killed by an errant bullet, fired fro...Read More
CloseGain/LossGold $1249.30+$3.00Silver$14.64-$0.03XAU70.61+2.05%HUI160.34+2.31%GDM583.74+2.24%JSE Gold1328.43+26.18USD97.06-0.08Euro113.64+0.17Yen89.18+0.64Oil$46.24-$3.6410-Year2.823%-0.035T-Bond144.4375+0.65625Dow23675.64+0.35%Nasdaq6783.91+0.45%S&P2546.16+0.01% The Metals: Gold erased early Asian gains and dipped to $1245.10 at about 2AM EST before it rallied up to $1...Read More
By Dave KranzlerA friend asked me today what I thought Powell should do. I said, "the system is screwed. It ultimately doesn't matter what anyone does. The money printing, credit creation and artificially low interest rates over the last 10 years has fueled the most egregious misallocation of capital in history of the universe.Eventually the Fed/Central Banks will print trillions more - 10x mo...Read More