Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday November 28*Copper -$165.96 (-1,156.79 yuan) Aluminium -$425.57 (-2966.32 yuan) Zinc -$98.06 (-683.48 yuan) Nickel $309.58 (21,57.84 yuan) *Fastmarkets MB calculates the physical arbitrage for import into China daily by using SHFE front-month and LME...Read More
China's domestic rebar prices bounced back on Wednesday November 28 amid gains in the futures market, though export prices continued to spiral downward.Domestic Eastern China (Shanghai): 3,800-3,830 yuan ($547-551) per tonne, up 50-70 yuan per tonneNorthern China (Beijing): 3,490-3,520 yuan per tonne, up 20 yuan per tonneRebar futures picked up more strength during the day, which encouraged seller...Read More
China's hot-rolled coil prices were mixed on Wednesday November 28, with those in the east of the country flat but those in the north lower.DomesticEastern China (Shanghai): 3,570-3,590 yuan ($514-516) per tonne, unchangedNorthern China (Tianjin): 3,480-3,500 yuan per tonne, down 30-40 yuan per tonneSellers in eastern China stopped kept their prices stable on the recovery in the futures...Read More
The following Fastmarkets minor metals prices changed on Wednesday November 28:Minor metalsAntimony MB Chinese free market MMTA standard grade II, yuan/tonne: 49,500-50,000 yuan per tonne from 50,000-50,500 yuanCobalt MB free market high...Read More
Despite a firmer dollar, the three-month base metals prices on the London Metal Exchange are up across the board by an average of 0.8% this morning, Wednesday November 28. Nickel and tin are the outperformers with gains of 1.4% and 1.1% respectively.Copper prices are up by 0.8% at 4$6,160 per tonne. Volume has been average, with 5,147 lots traded as at 6.48am London time. The precious metals are a...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday November 28:Aluminium scrapCommercial pure cuttings: ?1,030-1,050 per tonne from ?1,035-1,065...Read More
Infill drilling from March through October at Osisko Mining's (TSX: OSK) Lynx deposit at its Windfall project, in the Abitibi greenstone belt in the James Bay region of Quebec, has added ounces and higher grades, the company announced in a resource update.Osisko has increased Lynx's indicated resources by 153,000 ounces of gold and boosted its grade from the 7.51 grams gold per tonne in a May 2018...Read More
In this current commodity price environment, the mining space is filled with excellent opportunities. That said, risk levels have risen sector-wide, leading to much of the decline in equity values in this space. Here are three of my top picks for investors looking for a decent risk/reward return in this space.Hudbay MineralsFor those interested in gaining exposure to the base metals space, Hudbay...Read More
The few mining stocks on the S&P500 were part of the rally, with Freeport-McMoRan (NYSE: FCX) rising 6.49%.London's key index closed lower yesterday, but metals and mining stocks were up 0.76%, and futures are pointing to a positive start today.Metals and mining stocks on the S&P/TSX Composite Index were up about 3% yesterday.Diversified miners Teck Resources TSX: TECK.B), Turquoise Hill R...Read More
Diamond drilling at Kintavar Exploration's Mitchi Project, Quebec. Source: Kintavar Exploration Inc.Kintavar Exploration Inc. [KTR-TSXV] shares were active Thursday after the company released assays results from drilling on the Sherlock Corridor area of its Mitchi property in Quebec.The program included 12 drill holes (2,300 metres) that primarily investigated surface exploration targets on the S...Read More
2018 was a huge year for the cannabis industry.The state of California - the fifth-largest economy in the world - officially began the legal sales of adult-use cannabis.The entire country of Canada officially legalized adult-use cannabis.Mexico began the process of ending the prohibition of cannabis.All across the world, new legalization legislation was introduced, debated, and passed.Make no mist...Read More
CloseGain/LossGold $1223.90+$3.70Silver$14.30-$0.01XAU64.80-1.11%HUI146.40-1.00%GDM534.77-0.25%JSE Gold1124.07+16.97USD96.78-0.05Euro113.89+0.18Yen88.30+0.17Oil$51.45+$1.1610-Year3.029%-0.032T-Bond140.21875+0.28125Dow25338.84-0.11%Nasdaq7273.08-0.25%S&P2737.80-0.22% The Metals: Gold gained $8.70 to $1228.90 by late morning in New York before it drifted lower in afternoon...Read More
By Ira EpsteinHow to play metals going into the G-20 Meeting.https://www.iraepstein.com/ Read More
By Stefan GleasonOne of the greatest asset bubbles of all time appears to have just burst.It's not the stock market. Despite recent downside volatility amidst bubble-like valuations, so far stocks have merely entered a correction.Cryptocurrencies, on the other hand, have entered into a full-blown meltdown. Bitcoin will go down in history for its extraordinary rise from zero to a high of $19,783...Read More
By Frank HolmesMichael Robinson, chief technology strategist of Money Map Press, is a lot of things: devoted son and father, technologist, avid skier and gun enthusiast, accomplished blues guitarist, Pulitzer Prize nominee.Readers of his popular newsletters know him for his mantra, "The road to wealth is paved with tech." As editor of Strategic Tech Investor, Nova-X Report and Radical Technology...Read More
Dear Friend of GATA and Gold:Questions are asked to get answers, but refusals to answer may be enough to permit conclusions to be drawn and thus in effect constitute answers as well.With all these recent refusals to answer, who really cannot believe that governments and central banks long have been manipulating the gold market so they might control the currency markets and thereby defeat all mar...Read More
Powell spoke yesterday. The gold market considered his remarks as dovish. And the market is always right, isn't it? Just Below Neutral On Wednesday, Powell delivered a speech "The Federal Reserve's Framework for Monitoring Financial Stability" at The Economic Club of New York. The majority of analysts judged the speech as dovish. Why? The key reason was Powell's view that interest rates were c...Read More
Wednesday's monster rally was just the beginning of a surge that can end only when the last die-hard bear has thrown in the towel. Although the short-covering panic goosed stocks into the clouds, the wild-blue-yonder, blow-off phase lies just ahead. Hundreds of stocks, most crucially AAPL, lifted from the danger zone, shifting the herd's tiny, fevered brains from bearish to bullish in the space...Read More
- Brexit no-deal would lead to "worst crash since 1930s"- Gold rose 0.6% in dollars and 1.2% in pounds today- UK economy could contract by 8%, house prices fall 30%, sterling fall 25% warns Bank of England- Sterling collapse would push Irish economy into recession- Carney's doomsday scenario sees the crippling of UK finances, the pound crashing and inflation soaring- BOE accused of "Project Fe...Read More