Seaborne coking coal prices were mostly flat on Tuesday November 13 amid inactivity in the spot market.A cargo of second-tier hard coking coal was sold to an end user in southern China at around $195 per tonne fob Australia, market sources told Fastmarkets. They said the cargo was part of a term contract for the month of December."Though this is not a spot transaction, it is still rather closely a...Read More
While the winter season begins in China, the ferrous market is wondering whether Chinese steelmakers will continue to move toward higher-grade, lower-impurity iron ore - an affinity they have demonstrated over the last two years.This affinity is the result of the Chinese government's policy shift that put more focus on protecting the environment as well as its supply-side reforms for the steel ind...Read More
China's steel futures edged up during morning trading on Tuesday November 13 while the steelmaking raw materials contracts dipped across the board.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,874 yuan per tonne, up 7 yuan per tonneJanuary hot-rolled coil: 3,616 yuan per tonne, up 6 yuan per tonneDalian Commodity Exchange January iron ore: 516 yuan per tonne,...Read More
Base metals on the London Metal Exchange were predominantly higher during morning trading on Tuesday November 13, with upward price action largely impervious to a continued surge in the US dollar index and optimism over US-China trade relations boosting commodity investments. Climbing by nearly 1%, the three-month zinc price was the biggest mover in the morning, pushing back above $2,500...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday November 13 *Copper -$139.14 (-969.79 yuan) Aluminium -$431.30 (-3,006.10 yuan) Zinc -$13.14 (-91.55 yuan) Nickel $652.11 (4,545.09 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME...Read More
Cobalt 27 has settled an insurance claim against 76 tonnes of cobalt stolen in July from a warehouse for $40.85 per lb. The settlement totals $6.8 million and is based on the high of the high-grade cobalt price assessed by Fastmarkets MB on Wednesday July 4, the company said late on Tuesday November 13. High-grade cobalt prices were last...Read More
Three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.6% on Tuesday November 13.Nickel and lead prices led with gains of 0.9%, while copper prices were up by 0.5% at $6,075 per tonne.Volume has been average with 5,328 lots traded as of 06:29am London time.Precious metals were up by an average of 0.4%, although spot gold prices lagged with a mere 0....Read More
Junior gold miner Continental Gold (TSX:CNL), which is developing the Buritica project in northwestern Colombia, has been roughly handled by the market in the wake of an attack on its employees in late September 2018, which saw three tragically murdered. The miner has seen its stock plummet by over 40% for the year to date because of growing market fears that the degree of geopolitical risk in Col...Read More
When a stock that was tumbling like there's no tomorrow opens almost 45% higher one day, you know there's a big story playing out there. Investors in the beleaguered silver mining company, Tahoe Resources Inc. (TSX:THO)(NYSE:TAHO) woke up this morning to a similar experience: The stock's up a staggering 46% to $4.20 as of the time of writing. Thank bigger rival Pan American Silver Corp. (TSX:PAAS...Read More
Gold has once again pulled back sharply in recent weeks to be trading at around US$1,200 an ounce, which sees it down by around 9% for the year to date. Many gold miners have declined in value as the yellow metal's price weakened to see the Van Eck vectors Junior Gold Miners ETF down by 25% over the same period. One junior gold miner that has bucked that trend is Lundin Gold Inc. (TSX:LUG), which...Read More
Speaking at the Technology and Low Emission Minerals Conference in Perth, Bannerman chief executive officer Brandon Munro presented his company's strategy to take advantage of the early stages of a uranium bull market.He outlined the key factors investors need to look for to catch easy asymmetrical value at the beginning of a boom, noting the importance of a project's strategic appeal to sovereign...Read More
Escobal Mine in Guatemala. Source: Tahoe Resources Inc.Pan American Silver Corp. [PAAS-TSX, NASDAQ] said Wednesday November 14 that it has agreed to acquire Tahoe Resources Inc. [THO-TSX, NYSE] in a US$1 billion transaction that will create the world's largest premier silver mining company.Under the agreement, shareholders of Tahoe can elect to receive US$3.40 in cash or 0.2403 Pan American commo...Read More
One of the exploration drill rigs targeting Kamoa-Kakula-style copper mineralization at Makoko on Ivanhoe's 100% owned Western Foreland exploration licences.Ivanhoe Mines Ltd. [IVN-TSX; IVPAF-OTC] said Wednesday November 14 that the latest drilling results have expanded its Kamoa North copper discovery in the Democratic Republic of Congo.Ivanhoe shares rallied on the news, rising 4.44% or 11 cents...Read More
VANCOUVER - Pan American Silver Corp. has signed a deal to acquire Tahoe Resources Inc. in a stock-and-cash deal it valued at more than US$1 billion.Under the friendly agreement, Tahoe shareholders will receive US$3.40 in cash or 0.2403 Pan American shares for each Tahoe share. The maximum cash available under the offer is US$275 million and there are 56 million Pan American shares available.Taho...Read More
It was the dark of the moon on the sixth of June in a Toyota with no fumes.Add a Nikola Tre with a reefer on and a Hyundai haulin' hogs.Wait a minute... no fumes?In 2016, medium and heavy-duty trucks accounted for 23% of transportation-related greenhouse gas emissions in the United States.That's more emissions than trains, planes, ships, and light trucks.Only passenger cars accounted for more.In f...Read More
Compa??ia de Minas Buenaventura S.A.A. (NYSE: BVN; LM: BUE) is Peru's largest, publicly traded, precious and base metals Company, and a major holder of mining rights in Peru. The Company currently operates several mines in Peru and is engaged in the exploration, mining development, processing and trade of gold, silver and other base metals, via wholly-owned mines and through its participation in j...Read More
CloseGain/LossGold $1211.90+$10.20Silver$14.15+$0.16XAU63.53+2.74%HUI143.45+3.61%GDM522.86+1.78%JSE Gold1080.74-2.00USD96.92-0.27Euro113.20+0.31Yen88.15+0.29Oil$56.25+$0.5610-Year3.122%-0.018T-Bond138.96875+0.375Dow25080.50-0.81%Nasdaq7136.39-0.90%S&P2701.58-0.76% The Metals: Gold traded mostly higher in Asia before it dropped back to $1197.80 in London, but it then shot...Read More
By Peter Schiff, Chief Economist and Global Strategist Euro Pacific Capital Currently, some market watchers have begun to openly question whether the bull market in stocks has finally come to an end. They certainly have cause to worry. Valuations are frothy after a record run-up in the last few years. Bond yields across the yield curve are rising sharply, as the Fed Funds Rate breaks into terr...Read More
By Ira EpsteinGold responds to crude oil being lost by day's end. Is there another leg down in oil coming?https://www.iraepstein.com/ Read More
By Craig HemkeIt may not be enough to reverse the momentum or flip the downtrend, but another Spec short squeeze is coming. Of that, you can be certain. And how do we know this? Because the COMEX is a rigged casino! The market-making Banks have monopolistic control of the proceedings, and this grants them almost unlimited power to rig results in their favor. To the point, Speculators (primarily...Read More