Seaborne iron ore prices were rangebound on Tuesday November 27 after a rapid drop below $65 per-tonne cfr on Monday.MB 62% Fe Iron Ore Index: $65.19 per tonne cfr Qingdao, up $0.94 per tonne.MB 62% Fe Pilbara Blend Fines Index: $64.46 per tonne cfr Qingdao, up $0.94 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $69.02 per tonne cfr Qingdao, up $0.05 per tonne.MB 58% Fe Premium Index: $57.06 per...Read More
The share of basic oxygen furnace (BOF)-based steel production in Asia may increase from 2019 onward, even as more integrated mills are commissioned in the region. There are at least six new BOF-based steelmaking projects in China and Southeast Asia which are either in development stages or will fire their blast furnaces between 2018 and 2023, according to World Steel Association head of technolog...Read More
Seaborne coking coal prices softened further on Tuesday November 27, with participants staying on the sidelines amid a weakening steel market in China."The billet price in China [tumbled] during the day. It has fallen by 800-900 yuan ($115-130) per tonne since the first [working day] of November. The situation doesn't bode well for coking coal prices," a Chinese trading source said. Fastmarkets' d...Read More
China's ferrous futures trended downward during morning trading on Tuesday November 27 with most contracts peaking the night earlier.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,576 yuan ($515) per tonne, down 53 yuan per tonneJanuary hot-rolled coil: 3,406 yuan per tonne, down 44 yuan per tonneDalian Commodity Exchange January iron ore: 466 yuan per tonne, d...Read More
The latest metal markets news and price moves to start the North American day on Tuesday November 27.Falling 2.4% over the morning, the three-month zinc price found a low of $2,422 per tonne over the morning, its lowest point since September 19. While zinc volumes traded so far this morning hit 5,361 lots as of 10:16am London time. Tightness in the metal's forward curve, prompted by...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday November 27*Copper -$198.46 (-1382.98 yuan) Aluminium -$432.12 (-3011.19 yuan) Zinc -$100.65 (-701.35 yuan) Nickel $387.08 (2697.33 yuan) *Fastmarkets MB calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Fastmarkets MB has discontinued the Indium Corp ingots min 99.97% $ per kg price. After a month-long consultation period, Fastmarkets MB has decided to cease the publication of the Indium Corp ingots min 99.97% $ per kg fob price owing to an understanding that the existing specifications no longer serve the market. Fastmarkets MB is committed to the indium market and will continue to track its evo...Read More
The following interview of Brett Heath, CEO of Metalla Royalty & Streaming, took place by phone & email over the past 10 days. Brett and his expert team have achieved quite a lot over the past year. In this interview I asked Brett for an update as I am especially interested in Metalla's latest transaction, (a 2% NSR) on the Santa Gertrudis Royalty.Please describe the importance of your...Read More
Over the course of the past few months, we've been hearing more and more about the growing crisis emerging from the oil-rich province of Alberta. Specifically, Canada's pipelines are heavily backed up and at capacity and unable to meet the growing demand to reach refineries within the U.S.Additionally, a growing discontent from just about anywhere outside of Alberta towards building pipelines to r...Read More
Russel Metals Inc. (TSX:RUS), is once again hitting 52-week lows. The Canadian metal manufacturer has been under pressure from a variety of sources which has caused the stock to sell off significantly over the last couple of weeks. This stock has a number of positive attributes that could potentially make it a value investors dream.The fact that the oil price, especially in Canada, has been under...Read More
The following interview of Brett Heath, CEO of Metalla Royalty & Streaming, took place by phone & email over the past 10 days. Brett and his expert team have achieved quite a lot over the past year. In this interview I asked Brett for an update as I am especially interested in Metalla's latest transaction, (a 2% NSR) on the Santa Gertrudis Royalty.Please describe the importance of your...Read More
Bob Moriarty ArchivesNov 28, 2018The US Department of the Interior recently released a list of35 “Critical Minerals” includingtellurium. With China producing over two thirds of the world’s consumption of the metal today certainly the mineral would be in serious shortage should the current trade war between the US and China get even more stupid.I’m not sure exactly what putt...Read More
Housing and auto sales appear to have hit a wall over the last 8-12 weeks. To be sure, online holiday sales jumped significantly year over year, but brick-n-mortar sales were flat. The problem there: e-commerce is only about 10% of total retail sales. We won't know until January how retail sales fared this holiday season. I know that, away from Wall Street carnival barkers, the retail indu...Read More
Investors responded, sending the little-traded Altus' share price up 6.8% to 3.8p (US4.85c).The boost came from rock chip sampling at the Simret prospect, which is part of the Daro VMS project.The highest numbers from the 31-sample programme were 944g/t and 540g/t silver, and 3.55g/t gold.Altus CEO Steve Poulton said the numbers showed the possibilities of the region's copper-gold-silver mineralis...Read More
The reduced rate of steel production and falling profitability is being blamed by China's steel mills on the US versus China trade war which is starting to hit construction and manufacturing, tw...Read More
Logging diamond drill core at the Hank Project in B.C.'s Golden Triangle region. Source: Golden Ridge Resources Ltd.Golden Ridge Resources Ltd. [GLDN-TSXV] shares were active again Wednesday November 28 after the company reported additional assay results from drilling on the Williams Zone at its Hank Project in British Columbia's Golden Triangle District.The stock was down 31.03% or $0.045 to 10 c...Read More
Madsen Mine portal and ramp entrance, Red Lake, Ontario. Source: Pure Gold Mining Inc.Pure Gold Mining Inc. [PGM-TSXV] said Wednesday November 28 that it is pleased with the results of a test mining program which has now been completed at its 100%-owned Madsen Gold Project in Red Lake, Ontario.Pure Gold shares advanced on the news, rising 5.45% or $0.03 to 58 cents. The 52-week range is 46 cents a...Read More
I hate it when oil prices crash.It's happened twice in the last decade.The last two major crashes began in the summer of 2008, when WTI prices soared to $146 per barrel, and then again in the summer of 2014, when prices climbed back over $100 per barrel.So when the market watched crude oil prices experience one of their biggest drops in over three years, the panic set in and the bears took control...Read More
CloseGain/LossGold $1220.20+$5.20Silver$14.31+$0.17XAU65.52+3.10%HUI147.88+2.90%GDM537.36+2.07%JSE Gold1107.10+1.32USD96.83-0.53Euro113.71+0.76Yen88.13+0.11Oil$50.29-$1.2710-Year3.061%+0.008T-Bond139.625-0.28125Dow25366.43+2.50%Nasdaq7291.59+2.95%S&P2743.78+2.30% The Metals: Gold dropped back to $1211.20 by a little after 9AM EST before it jumped up to $1226.30 in early a...Read More
Looks like we just hit an inflection point. So far this morning:U.S. new home sales drop to more than 2-1/2-year low(Reuters) - Sales of new U.S. single-family homes tumbled to a more than 2-1/2-year low in October amid sharp declines in all four regions, further evidence that higher mortgage rates were hurting the housing market.The Commerce Department said on Wednesday new home sales dropped 8...Read More