Chrome ore and alloy prices dropped in China last week after tender price cuts for November continued to weigh on sentiment, while the US high-carbon ferro-chrome price halted recent declines on an uptick in inquiries. Chinese markets still reacting negatively to lower November tendersAlloy prices hold in JapanSouth Korean alloy prices inch lowerEuropean price drop on plentiful Indian supply ...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday November 7:Aluminium scrapGroup 1 pure 99% & litho: ?1,360-1,410 per tonne from ?1,380-1,430Commercial pure cuttings: ?1,080-1,110 per tonne from ?1,100-1,140Clean HE9 extrusions: ?1,360-1,410 per tonne from ?1,390-1,440Loose old...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 9 points in pre-opening trade.Investors are awaiting interest rate news from the FOMC meeting at 2:00 PM EST. Consensus calls for no change in the Fed Fund rate including indications of a likely increase following the next meeting in December. Index futures were virtually unchanged following release of the Weekly Jobl...Read More
(Kitco News) - Kinross Gold Corp. (TSX: K, NYSE: KGC) reversed to a loss in the third quarter as production and gold prices fell, the company reported late Wednesday. Excluding special items, the company listed an adjusted net loss of $48.4 million, or 4 cents per share, a turnaround from adjusted net earnings of $84.1 million, or 7 cents, in the same period a year ago. The net loss was $104.4 mil...Read More
Investors and market participants seem unfazed while bidding the U.S. equities up substantially following the midterm elections which resulted in the Democratic Party now controlling the House of Representatives. Although the Senate remains firmly in control by the Republicans, yesterday's election gave Democrats the needed majority to control the House of Representatives. With one hour left in tr...Read More
(Kitco News) - Gold and silver prices are slightly higher, but well down from earlier daily highs, in early-afternoon U.S. trading Wednesday. The metals were lifted by a drop in the U.S. dollar index today. December gold futures were last up $2.40 an ounce at $1,228.70. December Comex silver was last up $0.08 at $14.58 an ounce.Tuesday’s U.S. mid-term elections turned out as many had expecte...Read More
(Kitco News) - A shift in the political landscape following Tuesday’s midterm elections in the U.S. is only having a material impact on gold prices as the U.S. dollar loses some momentum.As many political pundits expected, the Democratic Party regained control over the House and the Republican Party retained control over the Senate, expanding their majority by five seats. While the U.S. doll...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term. Create your own user feedback survey Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our m...Read More
(Kitco News) - Australia’s weak currency is the key behind the country’s gold mining success, which is seeing new exploration and low debt levels, according to RBC Capital Markets.“The Australia gold mining sector is very healthy; we have strong margins and low to no levels of debt in the sector. There’s plenty of exploration upside, which can deliver some additional discov...Read More
Tahoe Resources Inc. (TSX: THO, NYSE: TAHO) lists a third-quarter loss as results continue to be hurt by suspension of operations at the giant Escobal silver mine in Guatemala. The Supreme Court shut down the mine last year over a dispute on whether the Ministry of Energy and Mines properly consulted surrounding indigenous communities on the project. Tahoe’s July-September net loss was $19...Read More
(Kitco News) - First Majestic Silver Corp. (NYSE: AG; TSX: FR) posted record production in the second quarter, although the company ended with an adjusted loss as silver prices fell, the company said Wednesday.Net earnings were $5.9 million, or 3 cents per share, compared to a loss of $1.3 million, or a penny, in the same quarter of 2017. The increase was primarily due to a $15.5 million increase...Read More
Tuesday's U.S. elections took place and the results were as expected; the House turned blue and Republicans added a couple of seats in the Senate. Gold had a very active night as well with a big rally on fear, sell-off on relief and now a rally towards the overnight highs on relief. How do these results affect the price of gold? The simple answer is they don't. Asset classes may react to the news,...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 6.Please click...Read More
Base metals futures prices on the London Metal Exchange fell sightly on Tuesday November 6 while uncertainty continued about the outcome of the mid-term elections in the United States and that country's trade relations with China.On Tuesday, three-month nickel was the only price to trade in positive territory, at $11,775 per tonne, up by $25 per tonne from Monday's closing price of $11,750 per ton...Read More
The Comex copper price staged a modest recovery in the US morning on Tuesday November 6 amid a softening dollar and speculative buying. The copper price for December settlement on the Comex division of the New York Mercantile Exchange recovered 0.35 cents to $2.7595 per lb. Industrial metal markets continue to look at the trade dispute between the United States and...Read More
Chinese export prices for ferro-vanadium and vanadium pentoxide have held steady over the past week due to lackluster activity, with domestic prices remaining more favorable, while the European markets continued to gain strength on increased activity, closing the gap to the Chinese market. Chinese export prices stall amid favorable domestic market EU FeV prices up slightly on increased consumer ac...Read More
Chinese ferro-silicon prices dropped in the week ended Friday November 2 due to slow buying interest and a weak yuan versus the dollar, while the European market also succumbed to quiet demand, causing suppliers to cut their offer prices to garner buying interest. Chinese market drops in line with demand Weaker yuan exacerbates downward trend European suppliers cut offer prices ...Read More
Chinese export prices for ferro-vanadium and vanadium pentoxide have held steady over the past week due to lackluster activity, with domestic prices remaining more favorable, while the European markets continued to gain strength on increased activity, closing the gap to the Chinese market. Chinese export prices stall amid favorable domestic market EU FeV prices up slightly on increased consumer ac...Read More
Low-grade manganese ore prices got a boost in the week ended Friday November 2 after buyers were caught between the end of November's offers and the start of December's. Low-grade manganese ore prices rise in China amid a lack of offersHigh-grade manganese ore index slidesChinese manganese alloy prices largely steadySilico-manganese quotation drops in EuropeUS alloy price holds in quiet marketLow...Read More
Chrome ore and alloy prices dropped in China last week after tender price cuts for November continued to weigh on sentiment, while the US high-carbon ferro-chrome price halted recent declines on an uptick in inquiries. Chinese markets still reacting negatively to lower November tendersAlloy prices hold in JapanSouth Korean alloy prices inch lowerEuropean price drop on plentiful Indian supply ...Read More