ResourceInvestingNews.com

Spot price slips as year-end sellers look to woo tapped out buyers

Resource Researcher — Wed, 31 Dec 2008 14:35:12 +0000

Uranium Investing News and u308.biz report spot price of uranium slips with very little activity as the year 2008 ends.

Analysts say the market is up because most of the selling is done for the year and that investors will have to wait a week or so if they are after high market activity, since no major moves are expected until after the New Year. The main Toronto board dropped nearly three per cent last week, pulled down by falling financials and energy and mining stocks. Though that’s hardly news for the embattled 2008 investor, given that the TSX composite index has plummeted some 40 per cent this year amid an ongoing credit crunch and global recession fears.

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Cutbacks make way for lead boom

Resource Researcher — Mon, 22 Dec 2008 15:02:08 +0000

Lead Investing News reports lead may boom with the current cutbacks in the mining industrydue to the global recession.

The recent price crash in the metals means that many miners who were once raking in cash are now cutting output and suspending operations just to stay afloat.

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Cutbacks make way for zinc boom

Resource Researcher — Mon, 22 Dec 2008 14:52:03 +0000

Zinc Investing News reports with the recent cutbacks in base metals due to global recession which will make way for zinc to boom.

Zinc is one of the metals most positioned for an acute supply shortage. The crunch point could come as early as 2011 or 2012 once surplus inventories from the current downturn are worked off.

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Copper prices ignore rate cut

Resource Researcher — Fri, 19 Dec 2008 17:08:03 +0000

Copper Investing News reports price of copper has fell more than 55% this year due to the global recession.

Copper fluctuated this week, first it declined, and then it pared losses as the US dollar plunged against the Euro, spurring demand from investors seeking alternative assets. A weakness in the dollar may spark a rally for all the commodities. However, copper’s response to the Greenback’s fluctuation has been non traditional, historically a far greater spike would be expected.

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Has China’s tungsten monopoly backfired?

Resource Researcher — Fri, 19 Dec 2008 17:04:24 +0000

Tungsten Investing News reports tungsten demand has been decreasing in China.

In 2007, the latest year for which industry data is available, it shipped $23 million worth of tungsten carbide powder and alloy jewelry. Last year, Shenzhen was estimated to export just $18.4 million worth, a reduction of 25 per cent. There are a few factors that have caused this, one being the global market slump. Perhaps, though China’s efforts to control the tungsten industry are backfiring on its own local businesses.

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Indonesian mining law scrutinized

Resource Researcher — Thu, 18 Dec 2008 16:16:46 +0000

Coal Investing News reports a coal and mining law was passed in Indonesia recently.

The new Bill on Minerals and Coal Mining replaces the 1967 legislation and requires the review of all current contracts. It gives the Indonesian government more control over minerals and coal output and deems certain areas as national reserves for domestic supply and also to prolong mine life and curb environmental damage. Foreign mining companies will also be required to give local partners a stake in their projects.

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Rate cut has minimal influence on nickel

Resource Researcher — Thu, 18 Dec 2008 16:12:21 +0000

Nickel Investing News reports nickel price had minimum effect with the Federal Reserves rate cut.

On India’s Multi Commodities Exchange (MCX), Nickel December 2008 contract opened at Rs 475.90 per kg as compared to its earlier closing of Rs 481, tossed in the range of Rs 467.10-485.90 and was last traded at Rs 475.90, down 1.06 per cent. Nickel January, 2009 contract opened at Rs 487 per kg as compared to its previous closing of Rs 494.80. Nickel February 2009 contract fell 5.01 per cent at Rs 498.70 per kg as compared to its previous closing of Rs 525.

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Gold exceeds platinum in value

Resource Researcher — Wed, 17 Dec 2008 15:33:48 +0000

Platinum Investing News reports platinum price falls to a value of 45%.

As investors have fled the platinum market, they have flocked to gold as a safe haven. Last Thursday, the momentous occasion of gold surpassing platinum occurred as gold purchases gained extra impetus as the U.S. dollar tumbled and oil rallied. Platinum demand has been fundamentally, and psychologically, influenced by a stalling world auto market.

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Palladium in limbo over auto bailout

Resource Researcher — Wed, 17 Dec 2008 15:27:26 +0000

Palladium Investing News reports palladium price rebounded on Monday’s trading to more than 5%.

Palladium hit $176.50 per ounce as technical buying emerged after demand worries stemming from an ambiguous auto industry vote hit platinum group metals on Friday. Platinum and palladium traders are still awaiting the outcome of a new vote; anticipated to come through on Wednesday.

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Baltic dry index: Iron market revival

Resource Researcher — Wed, 17 Dec 2008 15:22:42 +0000

Iron Investing News reports iron-ore market see optimism with the rise in BDI.

“Indications are that miners have been selling more iron ore on the spot market, less expensive to steel producers than tonnage at contracted prices” said investment bank Dahlman Rose. The iron ore price on the spot market has increased $4 to $63/tonne this month.

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