(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
Flat steel import prices in the United Arab Emirates and Saudi Arabia have decreased over the past week, with demand being weak, sources told Fastmarkets on Tuesday October 16. UAE Hot-rolled coil (HRC) was offered to the UAE at $590-595 per tonne cfr from China. Russia's Severstal sold HRC at $575-580 per tonne cfr to the UAE. India was offering HRC at $600 per tonne cfr, but buyers believe the p...Read More
Domestic flat and long steel prices in Argentina have remained unchanged this month amid strong currency volatility and hesitation in the market.Fastmarkets MB's monthly assessment of Argentina's domestic hot-rolled coil (HRC) price was at $725-755 per tonne ex-works on Friday October 12, stable with the assessment September.While the price of domestic cold-rolled coil (CRC) in Argentina on an ex-...Read More
The latest news and price moves to start the Asian day on Wednesday October 17.Base metals prices on the London Metal Exchange recorded mixed moves at the close of trading on Tuesday October 16, broadly supported by a weaker dollar index in the United States and a marginal recovery in global equity markets. Read more in our live futures report.Here are how prices looked at the close of t...Read More
The government of Mexico will request an exemption from a 25% duty that Canada plans to impose on imports of steel products."The Mexican government will take all actions necessary to protect Mexican exporters in the near term," the country's economy secretariat said late in the week ended Friday October 12."It will also use all the available resources...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebarOman, export, rebar, traded at $525 per tonne cfr, theoretical weight,...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
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