Global output of direct-reduced iron (DRI) increased by only 1.46% year-on-year in August 2018, according to statistics published this week by the World Steel Association (Worldsteel)....Read More
With Chinese participants returning from holiday, they have taken to selling into the recent metal price gains, with the three-month base metals prices on the London Metal Exchange for the most part weaker during morning trading on Tuesday September 25. Nickel bucked the general weakness with a 0.3% gain and tin was untraded, while the rest of the LME base metals were down by an average of 0.6%. C...Read More
Turkish steel mills continued their purchases of deep-sea scrap on Tuesday September 25 with prices remaining largely stable....Read More
Seaborne iron ore prices saw little trading activity on Tuesday September 25, despite Chinese participants returning from the Mid-Autumn Festival break. ...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.Michael Kors (KORS $66.71) is expected to open lower after the company confirmed plans to purchase Gianni Versace for $2.1 billion. The company also announced plans to change its name to Capri Holdings.Facebook (FB $166.41) is expected to open lower after two key employees, the former foun...Read More
Seaborne coking coal prices dropped on Tuesday September 25, with Chinese end users saying that there was no reason to lend support to prices after the increases earlier this month. ...Read More
China's ferrous futures were mostly down during morning trading on Tuesday September 25, with the steel, iron ore and coke contracts falling while coking coal contracts rose....Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday September 25*...Read More
The prices of base metals on the London Metal Exchange were lower across the board during morning trading on Tuesday September 25, with the recent exchange of trade tariffs between the United States and China continuing to stagger market activity....Read More
With Chinese participants returning from holiday, they have taken to selling into the recent metal price gains, with the three-month base metals prices on the London Metal Exchange for the most part weaker during morning trading on Tuesday September 25.Nickel bucked the general weakness with a 0.3% gain and tin was untraded, while the rest of the LME base metals were down by an average of 0.6%. Co...Read More
Copper trader Pascal Larouche has left Geneva-based merchant Transamine, where he was jointly responsible for the copper trading book, sources with knowledge of the matter told Metal Bulletin this week....Read More
Copper trader Pascal Larouche has left Geneva-based merchant Transamine, where he was jointly responsible for the copper trading book, sources with knowledge of the matter told Metal Bulletin this week....Read More
Tomorrow the Federal Reserve will meet for this month's FOMC meeting, which will conclude on Wednesday afternoon. The Federal Reserve conducts the Federal Open Market Committee meeting eight times a year, with only November and December remaining after this month. It is widely anticipated that the Fed will announce and implement another interest rate hike which will be announced in their monetary...Read More
Photo by Piotr Swat/Shutterstock.com (Kitco News) - The biggest merger in the gold sector in recent years, creating the world’s largest gold company could bring some optimism back to the precious metals market, according to some analysts.In premarket news Monday, Barrick Gold Corp. (NYSE, TSX: ABX) announced that it would acquire Randgold Resources Ltd. in a merger valued at $6...Read More
(Kitco News) - Gold prices were modestly up and down from the daily high in early-afternoon U.S. trading Monday. The safe-haven metal saw mild benefit from a bit of risk aversion seen in the marketplace as well as a weaker U.S. dollar today. December gold futures were last up $3.50 an ounce at $1,204.70. December Comex silver was last down $0.009 at $14.35 an ounce. The gold market extended early...Read More
(Kitco News) - Gold continues to hold critical support around $1,200 an ounce as speculative bearish bets remain at historic highs, according to the latest trade data from the Commodity Futures Trading Commission (CFTC).The CFTC's disaggregated Commitments of Traders report, for the week ending Sept. 18, showed money managers dropped their speculative gross long positions in Comex gold futures by...Read More
Iamgold Corp. (TSX: IMG; NYSE: IAG) reports a 51% increase in consolidated gold reserves at its Rosebel Gold Mine in Suriname, with the tally including reserves from the Saramacca deposit, located approximately 25 kilometers from the Rosebel mill. The additional reserves extend Rosebel’s mine life by five years to 2033, with future average annual production estimated at 318,000 ounces, Iamgo...Read More
(Kitco News) - Barrick Gold Corp. (NYSE, TSX: ABX) has entered into a mutual investment agreement with Shandong Gold Group Co., Ltd. to further strengthen ties between the two companies after the two firms announced a strategic cooperation agreement this summer, officials reported Monday.Under the latest announcement, Shandong Gold will purchase up to $300 million of Barrick shares, and Barrick wi...Read More
Editor's Note: Updates earlier story to add comments from analysts, more details.(Kitco News) - Barrick Gold Corp. (NYSE, TSX: ABX) will acquire Randgold Resources Ltd. (Nasdaq: GOLD) in an all-stock merger that will create the largest gold-mining company in the world, the companies announced on Monday.John L. Thornton, executive chairman of Barrick, said there are no premiums in the merger. Randg...Read More
* Shares in Randgold, Barrick jump* Deal valued at $18.3 bln excluding debt * Shares in new company to be listed in New York, Toronto * GRAPHIC-Randgold, Barrick shrs vs gold: (Adds quote from Barrick shareholder; updates Barrick shareprice) By Zandi Shabalala, Justin George Varghese and Clara DeninaLONDON, Sept 24 (Reuters) - Canada's Barrick Gold Corp has agreed to buy Randgold Resources Ltd in...Read More