Prices for rebar and billet in the United Arab Emirates were mostly stable in the week ended Tuesday October 16, and demand was moderate, sources told Fastmarkets.Local rebar producers rolled over their prices, and market activity now is better than in the previous week, when buying was very scarce.Domestic rebarLocal producers were offering rebar at 2,016-2,018 dirhams ($549) per tonne ex-works.A...Read More
Chinese export prices soared last week, supported by strength in the domestic market, while markets in Europe and the United States were slowed by subdued activity levels. Chinese export price rises on domestic strength upon emergence from holidays.European ferro-vanadium market steady at 13-year high, awaiting further demand.Vanadium pentoxide price sets new 13-year high in Europe, following Chin...Read More
Higher October tender prices for ferro-chrome in China have boosted prices for imported ore and alloy. Chinese mills' tender prices boost spot prices for imported ore, alloyDomestic spot prices stable in China Alloy prices steady in Japan, South Korea European alloy prices continue to slide Alloy prices stabilize in the United StatesChrome ore and ferro-chrome import spot markets strengthened agai...Read More
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 tonnes of 62% Fe...Read More
Seaborne iron ore prices were rangebound on Tuesday October 16, while premiums for Pilbara Blend fines were up slightly. MB 62% Fe Iron Ore Index: $71.50 per tonne cfr Qingdao, down by $0.16 per tonne.MB 62% Fe Pilbara Blend Fines Index: $70.53 per tonne cfr Qingdao, down by $0.16 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $76.70 per tonne cfr Qingdao, up by $0.36 per tonne.MB 58% Fe Premium...Read More
Spot prices for seaborne coking coal held steady on Tuesday October 16 amid few active offers, and even fewer bids."Sellers will try to hold on to their cargoes in anticipation of a new round of restocking in mid-November," a southern Chinese mill source said."Expectations of domestic coking coal prices rising further by another 50-100 yuan ($7.20- $14.40) per tonne in the next month to come will...Read More
China's ferrous futures trended upward during morning trading on Tuesday October 16, recovering from a drop during the Monday night session.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,157 yuan ($601) per tonne, up 31 yuan per tonneJanuary hot rolled coil: 3,975 yuan per tonne, up 49 yuan per tonneDalian Commodity Exchange January iron ore: 510.50 yuan per to...Read More
The latest metal markets news and price moves to start the North American day on Tuesday October 16.London Metal Exchange base metal prices were lower across the board during this morning trading, with aluminium's three-month price largely unaffected by a 70,000-tonne delivery.Following the largest inflow since April this morning, total LME aluminium stocks are now sitting just below 1 million ton...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday October 16*Copper -$118.42 (-822.04 yuan)Aluminium -$450.55 (-3,127.64 yuan) Zinc $32.91 (228.49 yuan) Nickel $442.07 (3,068.75 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month prices at 3pm Shanghai time, taking account...Read More
Here are eight key things Fastmarkets MB learned at the aluminium trade show in Dusseldorf on October 9-11 and during LME Week in London. Market cautious on spreads, Rusal Market participants are watching the developments in the aluminium market in the coming months with caution, due to uncertainty about spreads and the future of sanctions against UC Rusal. Should the United States remove sanction...Read More
The next Tech Talk is scheduled to be released on Monday, October 22nd, 2018. Please join us then.Sponsored By...More from the network: Stock Market Outlook for November 2, 2018Stock Market Outlook for November 1, 2018Stock Market Outlook for October 31, 2018Stock Market Outlook for October 30, 2018Stock Market Outlook for October 29, 2018Read More
For the most part, gold has held on to the recent gains which occurred on Thursday of last week and continued into trading yesterday. Currently, gold futures basis the most active December Comex contract is trading down $2.30 and is fixed at $1,228 per ounce. Gold traded to an intraday high today of $1235.90, which is just below yesterday's high. However, gold could not hold onto its modest gains...Read More
(Kitco News) - Australian scientists are proposing to launch a satellite that would be able to look 300?km (186 miles) beneath the Earth’s surface, unlocking “Australia’s hidden mineral wealth,” according to the Australian Academy of Science's National Committee for Earth Sciences.This kind of “downward-looking telescope” would completely change the exploration...Read More
(Kitco News) - Gold prices are slightly up and not far below Monday’s 10-week high in early-afternoon U.S. trading Tuesday. The gold bulls are impressed their metal is able to hold gains amid a solid rally in the U.S. stock market today. December gold futures were last up $1.80 an ounce at $1,232.50. December Comex silver was last down $0.007 at $14.72 an ounce.The near-term technical postu...Read More
Gold is “back in fashion,” says Lukman Otunuga, research analyst at FXTM. Spot metal hit a three-month high of $1,has been as high as $1,232.70 an ounce Monday and remains near that level, hovering just under $1,230 in early-Tuesday trading. “A combination of factors ranging from depressed equity markets, trade disputes, global growth fears and geopolitical tensions have brought...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Alio Gold Inc. (TSX, NYSE American: ALO) has agreed to sell non-core assets in Nevada to Coeur Rochester, Inc., a subsidiary of Coeur Mining, Inc., for $19 million payable in shares of Coeur common stock. The assets being sold include the Lincoln Hill project, Wilco project, Gold Ridge property and other nearby claims. Alio also says it reduced its outstanding debt with Macquarie Bank Ltd. fr...Read More
(Kitco News) - Gold continues to garner bids as macro fundamentals continue to favor the upside risk. Uncertainties surrounding global trade, the Italian budget, Brexit and the upcoming mid-term elections in the U.S. have the global financial markets on edge. Although the equity market has somewhat stabilized, we are still over 1,000 points away from last week's high. The market remains net short...Read More
The metals continue to hold their ground at higher levels; gold managed to hold $1,230 and silver $14.65. All signs point to higher prices, with both metals approaching key decision points once again. The numbers to watch are $1,240 for gold and $14.80 for silver. A break above will be considered another breakout and more than likely lead to a continuation of this rally while building strength und...Read More
The prices of base metals on the London Metal Exchange were mostly lower day-on-day at the close of trading on Monday October 15, with a softer US dollar having little effect on prices but trade tensions and weak stock markets keeping investors cautious.The three-month lead price rose by 1.6% over the afternoon to reach an intraday high of $2,116 per tonne, its highest level since September 4.Whil...Read More