In today’s Tip TV Mining show, we discuss a range on topics including the metals performance, mining stocks, and falling demand in China, with Charlie Long, Resource Analyst at Beaufort Securities, and Bonnie Hughes, Natural Resources Forecaster.
Precious Metals Performance
On a YTD basis, Palladium is seen as a laggard, and has underperformed platinum. If the european diesel market continues to get hit, platinum could lose sheen and the gap between the both can fall.
Base Metals Performance
On a weekly basis we can see that Thermo coal has gone through $50, mainly due to supply disruptions.
On a YTD basis, Zinc looks interesting, and is moving in the right direction. Looking at the supply-demand balance, we might be inching towards higher prices in a couple of years.
Iron-ore exports from Australia have gone up 4%. The consensus for iron prices stand at $48/t for 2016, and $45/t for 2017, the futures market and the spot market are lower than consensus, and if these come lower, both BHP and Rio Tinto - the uk market mining stocks could take a hit.
Mining Highlights: We look at the key news for Horizonte Minerals HZM, Anaconda Mining ANX, Canadian Zinc CZN, Fortuna Silver FVI, Richmont Mines RIC, Torex Gold TXG
China fixed asset investment is slowing, and the steel demand is falling. The World Steel Association expects the prices to go lower, but the risk is for a larger than expected decline.
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