China's domestic hot-rolled coil prices moved up slightly on Thursday November 29 but its export segment remained unchanged. DomesticEastern China (Shanghai): 3,580-3,600 yuan ($515-518) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,490-3,500 yuan per tonne, narrowed upward by 10 yuan per tonneHRC futures traded above Wednesday's settlement price of 3,423 yuan per tonne for most of th...Read More
World manganese ore supply reached 1.98 million tonnes of manganese units in October, up 11% against September and nearly 20% year on year, according to the latest data from the International Manganese Institute (IMnI).Supply from the Asia and Oceania region jumped 30% against August and 22% year on year to 666,000 tonnes due to miners in China ramping up to feed manganese-alloy smelter restarts w...Read More
Three-month base metals prices on the London Metal Exchange were being pushed and pulled by cross currents this morning, Thursday November 29. Nickel, lead and tin showed gains averaging 0.4%, while copper, aluminium and zinc were down by an average of 0.4%. Copper was off by 0.4% at $6,230 per tonne.Volume across the complex has been average with 5,189 lots traded as at 7.33am London time. Wednes...Read More
The price of cobalt sulfate in China fell again this past week after producers surrendered to aggressive bidding by consumers in the run up to the end of the year, a time when both parties face extreme financial constraints.Fastmarkets MB assessed the price of cobalt sulfate (Co 20.5% min) in China on an ex-works basis at 68,000-73,000 yuan ($9,776-10,495) per tonne on Wednesday November 28, down...Read More
Stainless steel prices in East Asia continued to fall over the past week on soft demand. Fastmarkets MB's import price assessment for 304 stainless 2mm trimmed cold-rolled coil in East Asia was $1,910-1,980 per tonne cif East Asia for the week ended Wednesday November 28, down $80 per tonne from $1,990-2,060 per tonne cif a week earlier.Fastmarkets MB's import price assessment for 304 stainless tr...Read More
China's domestic stainless steel market maintained its downward trend over the past week after mills lowered their list prices.Fastmarkets MB's price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,200-15,000 yuan ($2,041-2,156) per tonne including VAT for the week ended Wednesday November 28, down 500-600 yuan per tonne from a week earlier.Stainless stee...Read More
Metal Bulletin has corrected its UK domestic grade-316 stainless steel scrap solids price, which was published incorrectly on November 23 due to a reporter error. The price was originally published at ?1,230-1,250 ($1,572-1,579) per tonne, delivered to merchant. The price has now been corrected to ?1,220-1,300 per tonne, stable from the week before. Fastmarkets MB's price book and database have...Read More
Key data from the Wednesday November 28 pricing session in Asia.Key drivers: Buyers lowered their purchasing prices after the price of scrap - the raw material of ADC12 - went down in the United States. Japanese buyers also held off from purchasing capacity this week due...Read More
I continue to receive questions regarding the direction of the market, to which I can only reply "I don't know." I certainly have thoughts about the factors affecting metals markets, but am not under the illusion that I KNOW where the market is headed.What I do know is that my money is best invested, in tranches, in the best companies in the sector. The best companies are led by the best managemen...Read More
November 30, 2018GOLD:Short Term Update:What a day! This is incredible! We called it with our wave counts, and now it's really happening as the Fed may have just blinked!Within wave .iii. we are now working on our first impulsive sequence, as shown on our "Daily Gold Chart".Within that first impulsive sequence we believe that we are working on a subdividing wave $iii$. Within wave $iii$, wav...Read More
The stocks of Franco-Nevada (TSX:FNV)(NYSE:FNV) and Wheaton Precious Metals (TSX:WPM)(NYSE:WPM) both experienced lows on September 11. However, Franco-Nevada stock has fared much better by appreciating about 16% while Wheaton Precious Metals stock is only trading about 2% higher since then.The two companies are in a similar line of business. Why is there a big difference in their recent price acti...Read More
There is growing conjecture that now is the time for investors to bolster their exposure to gold. The yellow metal has again rebounded, rising to just over US$1,220 per ounce as fears of a market correction and slower than expected economic growth coupled with rising geopolitical risk have spooked investors. While they typically think of senior miners like Barrick Gold Corp. and Goldcorp Inc. when...Read More
Canadian savers are constantly searching for reliable stocks to add to their RRSP portfolios.For much of 2018, the market appeared expensive, but the recent correction is finally giving buy-and-hold investors an opportunity to pick up some top names on the TSX Index at attractive prices.Let's take a look at Suncor (TSX:SU) (NYSE:SU) and Nutrien (TSX:NTR) (NYSE:NTR) to see if one deserves to be on...Read More
This year has been a very difficult time for silver investors and miners. The white metal has fallen by over 16% since the start of 2018 to be trading at around US$14.60 per ounce, and there are signs that a recovery is a long way off.Nonetheless, this shouldn't deter investors from acquiring primary silver miner Pan American Silver Corp. (TSX:PAAS)(NASDAQ:PAAS). Recent developments indicate that...Read More
I continue to receive questions regarding the direction of the market, to which I can only reply "I don't know." I certainly have thoughts about the factors affecting metals markets, but am not under the illusion that I KNOW where the market is headed.What I do know is that my money is best invested, in tranches, in the best companies in the sector. The best companies are led by the best managemen...Read More
November 30, 2018GOLD:Short Term Update:What a day! This is incredible! We called it with our wave counts, and now it's really happening as the Fed may have just blinked!Within wave .iii. we are now working on our first impulsive sequence, as shown on our "Daily Gold Chart".Within that first impulsive sequence we believe that we are working on a subdividing wave $iii$. Within wave $iii$, wav...Read More
Note: New homes sales, based on the seasonally adjusted annualized rate metric, are down over 23% from their peak in November 2017. Pending home sales, which translate into existing home sales less canceled contracts (typically failed financing), are down on a year-over-year basis 11 out of the last 12 months. But it's not just interest rates, which aren't up much from their lows in the context of...Read More
The company has the Elandsfontein phosphate project on South Africa's west coast, is in the process of buying the Hinda phosphate project in the Republic of Congo and also has the rights to the Aflao prospect in Ghana. Elandsfontein is currently under care and maintenance after six weeks of operation in 2017, and needs around US$16 million to get back into production. The compa...Read More
The surprise was not in the results themselves from the four-hole program at the unnamed discovery, assumed to be the historic Oak Dam West anomaly.The surprise was that BHP announced t...Read More
"This gives them the ability to analyse and upload field data in real-time from the most isolated locations around Australasia," Inmarsat said in a statement.Imdex's (ASX: IMD) cloud-based hub aggregates and transmits field data from subsurface instrumentation and mobile units, allowing an automated and instant upload of the data to a company's headquarters.Imdex's general manager product developm...Read More