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Iron ore price up as China steel futures hit new highs

MINING.COM Staff Writer | April 23, 2021 | 9:14 am MarketsTop CompaniesChinaLatin AmericaIron Ore Steel futures in China reached new highs as investors weighed the nation’s commitment to lowering production against its strong demand. (Image:junrong / Shutterstock.com) Iron ore futures advanced on Friday, on course for a fifth straight week of gains, as anti-pollution steel output curbs in China and strengthening global steel demand propelled prices to record highs. According to Fastmarkets MB, Benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $186.25 a tonne on Tuesday, up 1.43% from the previous day. September iron ore on China’s Dalian Commodity Exchange ended

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Gold stock upleg accelerates

Adam Hamilton – Zeal Intelligence | April 23, 2021 | 9:40 am IntelligenceMarketsGold Stock image This young gold-stock upleg is accelerating, with fast-rising prices enticing in more capital. This sector has surged sharply to multiple major upside breakouts in recent weeks, which is starting to turn skeptics into believers. Despite their strong upside momentum being chased, gold-stock prices remain far from overbought levels warning of impending selloffs. This mounting upleg still has great room to power way higher. Gold miners’ earnings are highly leveraged to prevailing gold prices, which drive this sector’s upleg and correction cycles. In early March as the last

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Battery-metal rush pits miners against marine biologists

Bloomberg News | April 25, 2021 | 9:27 am Battery MetalsAfricaCanadaUSACobaltManganeseNickel DeepGreen is one of the companies that intends to produce metals from polymetalic rocks, found in deep oceans. (Image courtesy of DeepGreen Metals). Controversial plans to mine the ocean floor face a key test this year when a United Nations body unveils rules that could spur the exploitation of hundreds of billions of dollars of battery metals. The International Seabed Authority is preparing to pass regulations in July that could trigger a rush to extract metals needed to power the electric-vehicle revolution. Environmentalists say that would endanger fragile marine ecosystems and fear the ISA is

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Is The Silver Squeeze Over?

Chris joins Dave Russell on GoldCoreTV with his charts to help us interpret the recent moves in silver and gold. In this video, we take a look at the silver price, the gold price, bitcoin and the S&P500. We take a look at what’s needed to continue the momentum of the #silvershortsqueeze, the movement spearheaded by Wall Street Silver & #WallStreetSilver. We look at the significance of the 50-day moving average and the 200-day moving average and the interaction between these two that give us either a golden cross or the death cross. These are particularly important long-term trend indicators

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Gold Is Still In A Bear Market, But Where Is The Bottom?

Chris joins David Lin of Kitco News to talk about Gold. Gold’s price pattern has put in a bottom for now, but there is no certainty that the trend now has turned definitively bullish. “I think gold’s put in a bottom, it feels like it, the charts look like it, but really, we’re not confirmed that…the trend is now up,” “Chris and his team are providing investors with a great road map for the direction of the markets, which is why I am also a paid subscriber to TheTechnicalTraders services and encourage you to consider a subscription as well, The

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The Warrant Report For The Week Ended April 16, 2021

If you have followed me for a while, you know that I am usually excited and bullish on the precious metals sector. Yes, timing is crucial and it is important to get into the game at great prices. This has been one of my special abilities to seek out these opportunities on the cheap by looking at the charts and following the insider trading on hundreds of companies. Today, I am bringing you several articles below which leads me to reasonably believe that we could be seeing substantially higher, gold, silver, Iron ore, copper, nickel prices by year’s end. If

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Will the Rebound in Gold Stocks Have Legs?

APRIL 16, 2021 JORDAN ROY-BYRNE CMT, MFTA EDITORIALS, FEATURED Last week we noted that Gold and gold stocks had made a short-term bottom.  The action this week has confirmed such and raised hopes of battered and beleaguered investors.  Gold and gold stocks have broken above initial resistance from double bottoms. Gold has surpassed $1750 while GDX has exceeded $34, and GDXJ has exceeded $49. In the clean line charts below, I drew resistance in red before adding the 200-day moving averages in blue. GDX has upside to $38 to $38.50, GDXJ has upside to $51-$53, and Gold has upside to $1825

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China opens its borders to billions of dollars of gold imports

Reuters | April 16, 2021 | 9:14 am IntelligenceMarketsChinaGold Image from World Gold Council via Twitter. China has given domestic and international banks permission to import large amounts of gold into the country, five sources familiar with the matter said, potentially helping to support global gold prices after months of declines. China is the world’s biggest gold consumer, gobbling up hundreds of tonnes of the precious metal worth tens of billions of dollars each year, but its imports plunged as the coronavirus spread and local demand dried up. With China’s economy rebounding strongly since the second half of last year, demand for

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Iron ore price hits 10-year high on rising steel demand

MINING.COM Staff Writer | April 16, 2021 | 9:40 am IntelligenceMarketsNewsAustraliaChinaLatin AmericaIron Ore Steelmaking process. (Image by China Baowu Steel) Iron ore prices continued to climb on Friday despite concerns over environmental restrictions in China. Tangshan, China’s top steelmaking city, said last month it will punish firms that either have not taken the steps spelled out under its emergency anti-pollution plan or have illegally discharged pollutants, following weeks of heavy smog in northern China. According to Fastmarkets MB, Benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $178.43 a tonne on Friday – the highest level since 2011. READ THE ENTIRE

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Goldman doubles down: Record-high copper price within a year

Frik Els | April 13, 2021 | 2:16 pm IntelligenceMarketsAfricaAsiaAustraliaCanadaChinaEuropeLatin AmericaUSACopper Altonorte copper smelter, Chile. Image from Glencore. Copper is trading more than $800 per tonne below the near-decade high hit in February, and some of the ardour of copper price bulls has cooled decidedly since then. Goldman Sachs metals strategist Nicholas Snowdon, speaking at the virtual World Copper Conference on Tuesday, is squarely in the bull camp, however. Snowdon doubled down on the investment bank’s view that the mining sector is at the start of a supercycle, citing three factors driving the boom in the broader commodity market: READ THE ENTIRE ARTICLE HERE

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Metals & Miners May Have Started A New Longer-Term Bullish Trend – PART II

This second part of our research article related to the new Bullish price phase in Precious Metals and Miners will continue to explore the potential range and targets for higher price trends. In the first part of this article, I discussed how precious metals have started moving higher in somewhat of a stealth mode – not really drawing a lot of attention from traders.  While other commodities and market sectors continue to rally, Gold and Silver have recently been setting up a new momentum base over the past few weeks.  If our research is correct, we may soon see a stronger

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Join Chris On Sprott Money News Weekly Wrap-Up

Gold began its new bull uptrend in 2019 and is currently experiencing its first major correction.   We are beginning to get really excited with gold POSSIBLY breaking out of a major bull flag pattern that it has been slowly consolidating in for the past 8 months. In this edition of The Weekly Wrap Up, you’ll hear: Which sector is a prime opportunity right now What are the upside targets in silver? Plus: The fresh bull market in platinum “Chris and his team are providing investors with a great road map for the direction of the markets, which is why I am

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Coinbase Goes Public, Opening the Crypto Floodgates

April 16, 2021 By Frank HolmesCEO and Chief Investment OfficerU.S. Global Investors Digital currencies stormed Wall Street in a big way this week. Crypto exchange Coinbase went public in a direct listing, opening the floodgates for a number of other crypto-related companies. This move brings us one step closer to mass acceptance of cryptocurrencies. Before now, investors seeking to participate had a few options other than to hold the underlying assets. READ THE ENTIRE ARTICLE HERE AT U.S. GLOBAL INVESTORS

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Are Metals & Miners Starting A New Longer-Term Bullish Trend?

Almost in stealth mode, precious metals have begun to bottom and start a new upside price trend while the US stock market focused on the FOMC meeting a few weeks back and current economic data.  Gold, Silver, and many of the Miner ETFs recently started a moderately strong push higher – almost completely behind the scenes of the hype in the markets regarding IPOs and Bitcoin’s new recent highs. All the Gold traders know that when Gold starts a new leg higher, it could mean inflation fears are being amplified in the global markets and/or fear is starting to creep

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The Warrant Report For The Week Ended April 9, 2021

I am seeing and feeling that we are ready for another wave up in the PM sector and am optimistic. As well, it seems that we are in a much more positive tone in the SPACs and the warrants thereon. I had two of my personal positions announce definitive agreements this week with nice profits on both. This week we added a new feature for our subscribers a – Warrant Redemption CalendarVirtually all of the SPACs after they have completed a merger will redeem the stock warrants. There are many rules as to ‘when’ they can redeem the stock warrants

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