An overview of the minor metals markets and the reasons for any price moves.[Editor's note: This article was first published at 5.58pm London time on September 19. It was updated on September...Read More
Global crude stainless steel production is forecast to reach 55.75 million tonnes in 2019 on strong production growth in Asia, Anglo American business intelligence manager Barry Jackson told an industry forum on Wednesday September 19.This would be up from an expected 53.41 million tonnes of stainless production in 2018, Jackson said at the Metal Bulletin and Steel & Metals Market Research (SMR) S...Read More
Import prices for flat stainless steel in East Asia fell further over the past week due to the weak nickel segment and a lack of transactions amid sluggish regional demand.Metal Bulletin's assessment of import prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,125-2,180 per tonne cif East Asian ports for the week ended Wednesday September 19, down by $15 per tonne from a week e...Read More
Import prices for steel billet in Southeast Asia softened slightly on Thursday September 20, with the mismatch between bids and offers keeping trading activity limited.Re-rollers were still insisting on their low bids due to weak downstream sales, while sellers maintained their offer levels.Metal Bulletin's daily assessment of import prices for billet in Southeast Asia was $525-535 per tonne cfr M...Read More
Key data from the Wednesday September 19 pricing session in Shanghai.Key drivers- Cheaper material from South East Asia and Africa pushed Chinese exporters to lower their offer prices. - Japanese buyers held back from purchasing on the expectation that Chinese export prices would continue...Read More
Gold futures closed higher on the day, with the most active Comex contract (December) currently up $5.40 at $1,208.30. However recent pricing in gold can be best characterized by the tight and narrow trading range, with major support at $1,190 and major resistance at $1,218. Since the last week of August, gold has effectively been trapped within a $30 trading range. Over the last 17 trading days,...Read More
(Kitco News) - Gold prices are moderately higher in early-afternoon U.S. trading Wednesday. Gold and silver are supported on some buying back of previously sold positions (short covering) by the shorter-term futures traders. A lower U.S. dollar index on this day also supported some buying interest in the precious metals markets. December gold futures were last up $6.10 an ounce at $1,209.00. Decem...Read More
Gold’s breakout from its sideways trading pattern may well dictate which direction the precious metal travels for the rest of the year, says veteran futures trader Ira Epstein. Since bottoming at $1,167.10 an ounce on Aug. 16, Comex December gold rallied but then stalled, leaving the market sideways, says the director the Ira Epstein division of Linn & Associates. The metal has not been...Read More
(Kitco News) - The gold market is holding near session highs above critical resistance but is mostly ignoring mixed U.S. housing construction data.The Commerce Department's latest economic data showed that U.S. housing starts rose 9.2% in to a seasonally adjusted annual rate of 1.1.282 million units in August, up from July's revised rate of 1.174 million. Consensus forecasts compiled by most news...Read More
Kirkland Lake Gold Ltd. (TSX, NYSE: KL; ASX: KLA) says it has upped its stake in Osisko Mining Inc. (TSX: OSK) by acquiring some 14.7 million common shares through private-placement financing at C$1.70 per share for a total of C$25 million. Previously, Kirkland Lake held 17.9 million shares that accounted for 8.58% of the shares. The company now owns 13.61% of outstanding Osisko shares. “Our...Read More
(Kitco News) - Gold is likely to continue trading in its recent range into the Fed meeting next week. It appears that the administration has softened the blow of the tariff threat by imposing initial tariffs of 10%, with the possibility of an additional 15% in 2019. The 10% bump has mostly been offset by the weakness in the Chinese yuan over the past few months and as such should have a small impa...Read More
(Kitco News) - Gold prices are moderately higher in early U.S. trading Wednesday, supported on some buying back of previously sold positions (short covering) by the shorter-term futures traders. A lower U.S. dollar index on this day is also supporting some buying interest in the precious metals markets. December gold futures were last up $4.30 an ounce at $1,207.20. December Comex silver was last...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
Another day, another chance for a gold rally to fail. This has been the pattern for weeks, as every rally is met with sellers. The strong hands push it up; at the same time, they become the weak hands when they reach the top. New money strong hands push it back down, and the cycle continues until gold breaks out one way or the other. This morning gold is higher. Will this be the day it breaks out...Read More
Here are four key takeaways from Metal Bulletin's sixth Asian Nickel Conference held in the Indonesian capital of Jakarta on September 12-13. Battery sector's nickel consumption to soar; ramp-up of nickel sulfate production expectedWhile the stainless steel sector will remain the dominant consumer of nickel, demand from the battery sector is expected to surge fivefold over the next six to seven ye...Read More
Here are four key takeaways from Metal Bulletin's sixth Asian Nickel Conference held in the Indonesian capital of Jakarta on September 12-13. Battery sector's nickel consumption to soar; ramp-up of nickel sulfate production expectedWhile the stainless steel sector will remain the dominant consumer of nickel, demand from the battery sector is expected to surge fivefold over the next six to seven ye...Read More
Here are four key takeaways from Metal Bulletin's sixth Asian Nickel Conference held in the Indonesian capital of Jakarta on September 12-13. Battery sector's nickel consumption to soar; ramp-up of nickel sulfate production expectedWhile the stainless steel sector will remain the dominant consumer of nickel, demand from the battery sector is expected to surge fivefold over the next six to seven ye...Read More
The latest news and price moves to start the Asian day on Wednesday September 19.Copper prices on the London Metal Exchange closed 2% higher on Tuesday September 18, with the base metals complex shrugging off the escalating trade dispute between the United States and China. Read more in our live futures report.Here are how prices looked at the close of trading:Comex copper prices rebound...Read More
Here are four key takeaways from Metal Bulletin's sixth Asian Nickel Conference held in the Indonesian capital of Jakarta on September 12-13. Battery sector's nickel consumption to soar; ramp-up of nickel sulfate production expectedWhile the stainless steel sector will remain the dominant consumer of nickel, demand from the battery sector is expected to surge fivefold over the next six to seven ye...Read More
The latest news and price moves to start the Asian day on Wednesday September 19.Copper prices on the London Metal Exchange closed 2% higher on Tuesday September 18, with the base metals complex shrugging off the escalating trade dispute between the United States and China. Read more in our live futures report.Here are how prices looked at the close of trading:Comex copper prices rebound...Read More