The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreVale, Global Ore, 170,000...Read More
Seaborne iron ore prices were rangebound amid a quiet market on Monday October 15 with uncertainties emerging over steelmaking restrictions in east China.MB 62% Fe Iron Ore Index: $71.66 per tonne cfr Qingdao, down by $0.01 per tonne.MB 62% Fe Pilbara Blend Fines Index: $70.69 per tonne cfr Qingdao, down by $0.01 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $76.34 per tonne cfr Qingdao, down by...Read More
Trading activity in the seaborne iron ore pellet market was subdued last week, with some participants expecting prices to come down.The MB 65% Fe Iron Ore Pellet Index, published by Fastmarkets MB, was at $160.54 per tonne cfr China on Friday October 12, down by $1.10 per tonne from a week earlier.The fall in the MB 65% Fe Iron Ore Pellet index (MBIOI-PT) was based on the visible market activity d...Read More
Seaborne coking coal spot prices moved in opposite directions on Monday October 15, with the cfr China segment picking up some strength while the fob Australia one softened.A November-laycan cargo of low-vol Australian premium hard coking coal was sold to an end user in northeastern China at $220 per tonne cfr China, sources confirmed during the day. The last cfr China transaction for such a produ...Read More
China's ferrous futures started the week mixed, with the steel contracts posting gains during morning trading on Monday October 15, while those for steelmaking raw materials trended downward to end the session lower.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,154 yuan ($600) per tonne, up 36 yuan per tonne January hot rolled coil: 3,952 yuan per tonne, up 20...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Monday October 15*Copper -$151.73 (-1053.74 yuan)Aluminium -$467.58 (-3247.27 yuan) Zinc -$54.19 (-376.37 yuan) Nickel $303.89 (2110.43 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month prices...Read More
First Cobalt Corp is in discussions with various feedstock suppliers and potential offtake parties who could finance an eventual restart of its cobalt refining facility in Ontario, Canada. The base case scenario would see the refinery resume operations at 24 tonnes per day, the company said, with production of cobalt sulfate for the lithium-ion battery market or cobalt metal for the US aerospace i...Read More
At the inaugural LME Focus Day, part of this year's LME Week in London, Fastmarkets' head of base metals and battery research, Will Adams, discussed the supply and demand outlook for the cobalt market over the next five to seven years. While there is unlikely to be any shortage of cobalt over the next two to three years, the market is expected to gradually shift toward being in a deficit again in...Read More
Vancouver-based Northern Vertex Mining (TSXV: NEE) (US-OTC: NHVCF) has amended the terms of a loan and lined up two new sources of financing totalling US$13.6 million to improve cash flow at its newly producing Moss gold-silver mine in northwest Arizona.Vertex achieved commercial production at Moss on Sept. 1, 2018 - becoming the newest gold producer in the U.S. - and expects the open-pit, heap...Read More
Gold still has a place in many portfolios. During last week's market mayhem, the metal showed exactly why. While the rest of the market was melting down, gold jumped higher. Thanks to the built-in operational leverage enjoyed by most gold producers, these stocks saw their shares do even better than the price of gold. The old adage is true; spooked investors still take solace in precious metals.Don...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:stewart@gutrader.comOct 16, 2018 With a technical double bottom pattern as a launchpad, gold continues to move solidly higher while global stock markets get smashed.What comes next for these key markets and what are the main factors at play?Please click here now. Double click to enlarge this daily gold chart...Read More
High quality emeralds recovered from Fura's Coscuez Mine in Colombia. Photos courtesy Fura Gems Inc.When Princess Eugenie wore an emerald tiara at the latest royal wedding on October 13, 2018, she briefly highlighted an aspect of mining that doesn't get much attention.Hoping that will change is Dev Shetty, President and CEO of Fura Gems Inc. [FURA-TSXV; FUGMF-OTC; BJ43-FRA], a company that is focu...Read More
B2Gold's Fekola gold mine in Mali, West Africa. Source: B2Gold Corp.B2Gold Corp. [BTO-TSX; BTG-NYSE] shares have rallied sharply in recent days as investors anticipate better than expected production numbers in 2018 following an impressive third quarter.On October 10, 2018, the day before the company announced its production results for the third quarter, B2Gold shares opened at $3.08. By Octobe...Read More
Vancouver, BC - Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) provides further analytical results from the 2018 exploration drill program at the Forrest Kerr Property. Three holes totalling 1,153 meters have been completed in the newly discovered South Boundary Zone 1.5 km south of the strong precious metal mineralization delineated at the North Boundary Zone. These holes r...Read More
TORONTO - Canada's main stock index pushed higher in late-morning trading, helped by a broad-based rally led by the key energy sector, while U.S. stock markets surged higher.The S&P/TSX composite index was up 94.71 points at 15,504.18.In New York, the Dow Jones industrial average was up 317.67 points at 25,568.22. The S&P 500 index was up 33.30 points at 2,784.09, while the Nasdaq composite was up...Read More
The Dow Jones Industrial Average (DJIA) fell some 1,500 points since hitting new highs last week.As you can see by the chart, we are well above both the 200-day and 100-day moving averages. The chart shows a double top with support around 23,700. That's another 1,500 points lower.And if that fails, we could give up 4,000 points.The MACD is still above the zero line, which means the market isn't ov...Read More
Calidus Resources (ASX: CAI) is a gold exploration company, which controls the high-grade, near-surface, 712,000-ounce Warrawoona Gold Project, in the East Pilbara district of the Pilbara Goldfield, in Western Australia. We learned from David Reeves, Managing Director of Calidus Resources, that they currently have three rigs turning on their Warrawoona Gold Project, with the aim of extending known...Read More
Middle Island Resources Limited (ASX: MDI) is a gold exploration and aspiring development company focused on Western Australia. We learned from Rick Yeates, managing director of Middle Island Resources, that they are focused on a single project called the Sandstone gold project located about 400 km northwest of Kalgoorlie in the heart of the Western Australian goldfields. The project is 100% owned...Read More
CloseGain/LossGold $1224.90-$0.50Silver$14.66-$0.03XAU70.10-0.50%HUI155.32-0.36%GDM557.73-0.05%JSE Gold1214.12-37.98USD95.06-0.02Euro115.81UNCHYen89.32+0.11Oil$71.92+$0.1410-Year3.157%+0.003T-Bond138.53125+0.25Dow25798.42+2.17%Nasdaq7645.49+2.89%S&P2809.92+2.15% The Metals: Gold gained $7 to $1232.40 at about 9:30AM EST, but it then drifted back lower for most of the rest...Read More
By Ira EpsteinGold might pullback a bit as Risk On mentality in stocks takes hold.https://www.iraepstein.com/ Read More