Fastmarkets MB pricing reporters and analysts provide their selenium market data insights and analysis, and a summary of the market news likely to dominate contractual discussions, as negotiations gather pace in time for LME Week 2018. See also:Market fundamentals, concerns over Ningxia Tianyuan spur manganese flake rally in 2018 Selenium prices fall more than 6%, concerns over Ningxia Tianyu...Read More
Fastmarkets MB pricing reporters and analysts provide their indium market data insights and analysis, and a summary of the market news likely to dominate contractual discussions, as negotiations gather pace in time for LME Week 2018. See also:Traders ship indium to US ahead of possible tariffs FORECAST: China likely to maintain hold on US minor metals market, even after tariffs - sources ...Read More
Fastmarkets MB pricing reporters and analysts provide their cobalt market data insights and analysis, and a summary of the market news likely to dominate contractual discussions, as negotiations gather pace in time for LME Week 2018. See also:FOCUS: Rising cobalt prices fuel interest for scrap as sulfate feed substitute; widespread EV battery recycling 'will take time' FOCUS: Cobalt traders j...Read More
Fastmarkets MB pricing reporters and analysts provide their antimony market data insights and analysis, and a summary of the market news likely to dominate contractual discussions, as negotiations gather pace in time for LME Week 2018. See also:FOCUS: Smuggling crackdown takes antimony market by surprise European antimony prices jump on China smuggling crackdown news BREAKING NEWS: Over 3,000...Read More
The following Fastmarkets minor metals prices changed on Wednesday October 3:Antimony MB free market regulus, $/tonne: $8,450-8,650 per tonne from $8,500-8,700 Cobalt MB...Read More
Fastmarkets MB pricing reporters and analysts provide their chrome market data insights and analysis, and a summary of the market news likely to dominate contractual discussions, as negotiations gather pace in time for LME Week 2018. See also:Ferro-chrome supply tightens in China following flurry of forward sales in late August DAVIES ON ORES: Chrome ore market debates case for cheaper offers...Read More
Key data from the Wednesday October 3 pricing session in Europe. Key drivers The European ferro-titanium price range widened, with another small drop at the lower end of the range from the previous week, but enough buying interest to register trades at the upper end of the range.Industry sources say a major consumer in Europe has issued a tender for several hundred tonnes of ferro-titanium for de...Read More
The European charge and high carbon ferro-chrome benchmark has dropped to $1.24 per lb for the fourth quarter of 2018, down 14 cents from the prior quarter.The quarterly benchmark is negotiated by a leading South African ferro-chrome producer and a major European mill; usually Glencore and Aperam.The new settlement was announced on Wednesday October 3 to the Johannesburg Stock Exchange by Merafe R...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday October 3:Aluminium scrap Group 1 pure 99% & litho: ?1,420-1,470 per tonne from ?1,410-1,450 Commercial pure cuttings: ?1,120-1,170 per tonne from ?1,140-1,180...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker during morning trading on Thursday October 4. The exception was lead where prices were up by 0.4%. The rest were down between 0.2% for copper, aluminium and nickel and 0.7% for tin, with zinc off by 0.3%. Copper prices were recently quoted at $6,320 per tonne. Although Chinese markets are still closed for the...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 11 points in pre-opening trade.Index futures were virtually unchanged following release of the Weekly Jobless Claims report at 8:30 AM EDT. Consensus was a decline to 210,000 from 215,000 last week. Actual was 207,000.Constellation Brands (STZ $) is expected to open higher after the company reported higher than consen...Read More
Yesterday's sharp gains in both gold and silver were directly tied to concerns by the European Union that the proposed Italian budget could cause contagion amongst other member nations. According to MarketWatch, "The euro climbed against other currencies Wednesday amid signs that Italy may yield ground over a budget dispute with the European Union. However, the shared currency relinquished some...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) - Gold prices are moderately lower in early-afternoon U.S. trading Wednesday. A very upbeat U.S. economic report that lifted the U.S. stock indexes and a rally in the U.S. dollar index worked against the safe-haven metals today. There was also less risk aversion in the marketplace at mid-week. December gold futures were last down $4.30 an ounce at $1,202.70. December Comex silver was...Read More
(Kitco News) - Gold prices fell but managed to hold above the $1,200 an ounce level after momentum in the service sector beat expectations once again in September, according to the latest data from the Institute of Supply Management (ISM). The Non-Manufacturing Purchasing Managers Index rose to a reading of 61.6% in September, up from August’s 58.5%. The September figure marked the fastest g...Read More
INTL FCStone looks for the U.S. dollar to ease in October, while gold and silver gain some traction. “We see gold and silver likely doing better in October and were heartened to see gold rising over the last few days despite a stronger dollar,” the firm says in its monthly commodities outlook. “A relative high concentration of short positions in both complexes could also lead to...Read More
Novagold Resources Inc. (NYSE American, TSX: NG) says it is in an “excellent financial position” to advance its Donlin gold project in Alaska, with $166 million in cash on hand. The company secured the major permits needed for the project in August. Novagold provided an update in a summary of developments for the third quarter, including the sale of its 50% interest in Galore Cree...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
The misery for gold traders continues. On Tuesday, gold rallied up to $1,212 before closing at $1,208. The $20 rally looks like another attempt at breaking out to the upside but will more than likely fail and test the bottom end. This is the pattern until it's not, and consolidation should continue. The longer this pattern holds, the more powerful the next move will be. There are a lot of positive...Read More
* World's top alumina plant shut in pollution dispute * Brazil plant operated at half capacity since March * Aluminium production at risk over alumina shortage * Price of aluminium jumps, Hydro shares fall sharply (Adds CEO quotes) By Terje Solsvik and Ole Petter Skonnord OSLO, Oct 3 (Reuters) - Norsk Hydro will haltproduction and layoff 4,700 people at the world's largestalumina refinery, Brazil'...Read More