Chinese cobalt sulfate trade log including business, bids and offers reported to Fastmarkets.Unless otherwise stated, all prices are yuan per tonne on an ex-works basis. In addition, cobalt sulfate, Co 20.5% min, China ex-works, adjustment to low-grade cobalt low-end price at Co 20.5% basis, $/Ib is showed in the bracket, at $ per lb basis. Fastmarkets MB prices Click here for Fastmarkets MB'...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday October 17:Aluminium scrapGroup 1 pure 99% & litho: ?1,400-1,450 per tonne from ?1,410-1,460Commercial pure cuttings: ?1,100-1,160 per tonne from ?1,110-1,160Clean HE9 extrusions: ?1,400-1,450...Read More
Possibly one of the most important sources of economic information to be released this week is the minutes from the September FMOC meeting held by the Federal Reserve, which has been released today. The minutes confirmed the information conveyed in their press statement which was released immediately upon the conclusion of the meeting as well as news from a press conference with questions and answ...Read More
(Kitco News) - Even though the U.S. midterm elections are difficult to predict, TD Securities said the most likely scenario is a divided Congress. But what does that mean for financial and precious metals markets?“Political risk is notoriously difficult for markets to predict. This is in part due to the increasing unreliability of polls to determine election outcomes, as was the case in the...Read More
(Kitco News) - Although there are expectations that investment capital will flow back into the mining sector, companies have to do more to show value, according to some finance executives.At a panel discussion during the Mine and Money conference in Toronto, Caroline Donally, managing director of private equity firm Denham Capital, said that in the past, companies have done poor job at creating va...Read More
(Kitco News) - Gold prices continued to trade slightly lower on the day after the release of the FOMC meeting minutes from September, which pointed to more rate hikes. The meeting minutes revealed that the third rate hike of the year was unanimous and that there was a general agreement that further rate hikes will be needed in the future. Gold prices slightly edged down following the news but kept...Read More
(Kitco News) - Gold prices are moderately lower in early-afternoon U.S. trading Wednesday, on a normal corrective pullback from recent solid gains that saw prices hit a 10-week high earlier this week. A big rebound in the U.S. stock market on Tuesday is also denting any safe-haven demand for gold and silver markets today. A rally in the U.S. dollar index today also worked against the precious meta...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...Read More
(Kitco News) - Miners have to just wait out the cannabis frenzy until the bubble pops for investor capital to flow back into the metals space, this according to mining executives and fund managers.Marijuana stocks are approaching pre-2001 Nasdaq levels of overvaluation, and it's not a matter of "if," as much as it is a matter of "when" the cannabis space collapses on the same s...Read More
(Kitco News) - Gold may have a hard time making much forward traction in the months ahead but at some point should gain upward momentum in 2019 as the U.S. dollar loses some of its strength, said Metals Focus Wednesday. The consultancy provided a summary from its report titled “Precious Metals Investment Focus 2018/2019,” which covers gold, silver, platinum and palladium. The report is...Read More
A summary of base metals premiums from across the globe for the week to Tuesday October 16.Please click...Read More
Base metals prices on the London Metal Exchange made mixed movements at the close of trading on Tuesday October 16, broadly supported by a weaker US dollar index and a marginal recovery in global equity markets.Continuing to outperform the rest of the complex, the three-month lead price remains elevated, closing above $2,050 per tonne and up more than 10% from its fresh 2018 low of $1,876 per tonn...Read More
Rio Tinto lowered its 2018 guidance for aluminium by more than 4% on Tuesday October 16, to reflect the impact of the ongoing lock-out at the Becancour smelter in Quebec, Canada.The company's guidance figure for aluminium production has been revised to 3.4-3.5 million tonnes from 3.5-3.7 million tonnes previously, excluding any potential adjustment from the completion of the sale of the Aluminium...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
Rio Tinto lowered its 2018 guidance for aluminium by more than 4% on Tuesday October 16, to reflect the impact of the ongoing lock-out at the Becancour smelter in Quebec, Canada.The company's guidance figure for aluminium production has been revised to 3.4-3.5 million tonnes from 3.5-3.7 million tonnes previously, excluding any potential adjustment from the completion of the sale of the Aluminium...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 Turkish deep-sea scrap market remained silent again on Tuesday October 16, with volumes of billet being purchased instead of scrap, according to market participants.Appetite for scrap has been falling and demand remains low, with reports of mills choosing to purchase billet instead. Turkish domestic billet prices have been on a general downtrend since September 13.Many Turkish steel mills have...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 price of copper on the Comex exchange in the United States was slightly lower on the morning of Tuesday October 16, with the market unable to sustain the momentum it gained after LME Week in London earlier this month.The copper price for December settlement on the Comex division of the New York Mercantile Exchange dipped by 0.50 cents to $2.7880 per lb.Despite disruptions at key producing faci...Read More
Export prices for flat steel from the Commonwealth of Independent States were weak on Tuesday October 16, reflecting the downtrend in China's export market for hot-rolled coil (HRC).Fastmarkets' weekly price assessment for CIS-origin HRC exports narrowed to $520-530 per tonne fob Black Sea on October 16, from $515-540 per tonne fob Black Sea a week earlier."Suppliers [in the CIS] have no arguments...Read More