(Kitco News) - Gold prices are sporting decent gains in early-afternoon U.S. trading Wednesday. The yellow metal was under modest pressure overnight but prices started to move north as the U.S. dollar index moved south. There are also reports today the U.S. made an overture to China to restart trade talks. Ideas the world's two largest economies may be moving closer to a trade agreement can be ext...Read More
(Kitco News) - China will play a major role in the global silver market for years to come, both as an industrial user and a silver miner, said the Silver Institute in a report released Wednesday.The report, titled “Prospects for the Chinese Silver Market,” was released at the 17th China International Silver Conference in Shenzhen. The report was researched and prepared by the Lond...Read More
Renaud Adams (Kitco News) - Renaud Adams has been named the new president and chief executive officer of New Gold Inc. (TSX, NYSE American: NGD), the company reported Wednesday.He succeeds Raymond Threlkeld, a director of New Gold who stepped in and led the company since his appointment in May. Adams has also been appointed to the New Gold board of directors, while Threlkeld resigned, the com...Read More
The latest news and price moves to start the Asian day on Wednesday September 12.Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Tuesday September 11, pressured by China's retaliatory pledge of about $7 billion in sanctions against the United States amid an escalating trade rift. Read more in our live futures report.Here are how prices looked at the clo...Read More
The latest news and price moves to start the Asian day on Wednesday September 12.Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Tuesday September 11, pressured by China's retaliatory pledge of about $7 billion in sanctions against the United States amid an escalating trade rift. Read more in our live futures report.Here are how prices looked at the clo...Read More
The London Metal Exchange has decided to continue discounting short-dated and medium-dated carry fees indefinitely, it said in a notice to members on Wednesday September 12. The LME has cut fees twice since 2016, ushering in a review process from April to June of this year, after acknowledging that high trading and clearing costs have contributed to its declining volumes.Designed to encourage the...Read More
The prices of base metals on the London Metal Exchange were broadly higher at the close of trading on Wednesday September 12, propped up by a sizeable downturn in the US dollar index amid proposals of another round of trade talks between the United States and China. Climbing 3% over the afternoon and recouping losses made at Tuesday's close, nickel's three-month price has pushed back over $12,600...Read More
Edric Koh, head of physical market volumes from the London Metals Exchange, shares his views on nickel's performance so far this year as well as positive upcoming movements for nickel market dynamics at Metal Bulletin's sixth Asian Nickel Conference in Jakarta on September 12."Nickel has performed better in the LME base metals complex since the start of the year, supported by demand from electroni...Read More
The molybdenum oxide market in Europe has moved up on new deals reported midweek, with higher prices settled after stronger contracts were agreed in Asia last week, sources told Metal Bulletin on Wednesday September 12.Consumers have been slow to show buying interest for fourth-quarter smelting schedules, however, and so far have mostly adopted a wait-and-see approach to potential deals in Septemb...Read More
Key data from the Wednesday September 12 pricing session in Europe. Key drivers - Overall tightness in ferro-titanium propelled prices higher for the fourth consecutive week, with the market set to possibly extend above $6 per kg. Big tonnages currently being negotiated between suppliers and consumers in the steel sector should provide a clearer outlook for spot price direction in the next two or...Read More
The molybdenum oxide market in Europe has moved up on new deals reported midweek, with higher prices settled after stronger contracts were agreed in Asia last week, sources told Metal Bulletin on Wednesday September 12.Consumers have been slow to show buying interest for fourth-quarter smelting schedules, however, and so far have mostly adopted a wait-and-see approach to potential deals in Septemb...Read More
Key data from the Wednesday September 12 pricing session in Europe. Key drivers - Overall tightness in ferro-titanium propelled prices higher for the fourth consecutive week, with the market set to possibly extend above $6 per kg. Big tonnages currently being negotiated between suppliers and consumers in the steel sector should provide a clearer outlook for spot price direction in the next two or...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Key data from the Wednesday September 12 pricing session in Europe. Key drivers - Overall tightness in ferro-titanium propelled prices higher for the fourth consecutive week, with the market set to possibly extend above $6 per kg. Big tonnages currently being negotiated between suppliers and consumers in the steel sector should provide a clearer outlook for spot price direction in the next two or...Read More
Prices for rebar produced and delivered in Northern Europe widened down ?,?5 per tonne over the past week, but prices are expected to remain largely stable over the coming weeks, market sources told Metal Bulletin on Wednesday September 12.Metal Bulletin's weekly price assessment for domestic rebar in Northern Europe was at ?,?560-575 ($649-667) per tonne delivered on September 12, compared to ?,?...Read More
The Turkish steel mills continued their deep-sea scrap purchases for October deliveries on Wednesday September 12.A steel producer in the Iskenderun region booked a United States-origin cargo on Wednesday, comprising 15,000 tonnes of HMS 1&2 (90:10) and 10,000 tonnes of shredded at an average price of $324 per tonne cfr.The same mill also booked a Baltic Sea cargo, comprising 10,000 tonnes of bonu...Read More
Three-month base metals prices on the London Metal Exchange were in a steadier tone so far on Wednesday September 12, after they closed broadly lower on Tuesday amid dollar strength and rising trade war concerns.Lead (+0.7%) and sister metal zinc (+0.5%) were leading the gains, with aluminium and copper up by more modest amounts of 0.3% and 0.1% respectively, while nickel (-0.1%) and tin (-0.5%) w...Read More
Domestic prices for cold-rolled coil (CRC) in the EU have been stable over the week although there have been some declines in import offers, sources told Metal Bulletin on Wednesday September 12."Buyers are waiting to see where prices move and are closely following rumors about a decision in [the European Commission's] safeguard case [against steel imports]," a trader said."Domestic prices are sta...Read More
Southern European re-rollers have kept their prices for heavy steel plate steady this week despite a decline in slab costs, sources told Metal Bulletin on Wednesday September 12.Metal Bulletin's weekly price assessment for domestic grade-S235JR heavy steel plate in Southern Europe was unchanged at ?,?600-610 ($696-707) per tonne ex-works on September 12, reflecting a few deals and offers heard in...Read More
Domestic prices for hot-rolled coil (HRC) in the EU have been largely unchanged over the past week, sources told Metal Bulletin on Wednesday September 12.But steelmakers were expected to push for higher prices. The rise might be supported by the effects of the EU's safeguard case on steel imports and by strengthening demand.The European Commission (EC) imposed preliminary measures in a safeguard c...Read More