Seaborne coking coal prices continued to descend on Monday June 25 amid uncertainty over macroeconomic conditions in China and the availability of cheaper domestic materials in the country. A tender for a cargo of premium mid-vol hard coking coal was concluded last Friday at $200.06 per tonne cfr China, while a shipment of pulverized coal injection (PCI) product changed hands at $145.50 per tonne...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 13 points in pre-opening trade. Futures are responding to rising concerns about a trade war. The U.S. Dollar Index moved lower.Harley Davidson dropped $0.71 to $43.45 after the European Union increased its tariffs on motor cycles from 6% to 31%.BlackBerry slipped $0.06 to $10.62 after MKM Partners lowered its target p...Read More
Restrictions on sintering and pellet output to reduce pollution in China, along with high mill margins, have led to iron ore pellet premiums rising as mills favour the least-polluting material tomaintain output and meet emissions targets.PelletsMetal Bulletin's 65% Fe Blast Furnace Pellet Index was at $114.48 per tonne for the week ending Friday June 22, up $2.44 per tonne - or 2.2% - from $112.04...Read More
China's domestic rebar prices moved down further on Monday June 25 following a weakening of the billet and futures markets. Domestic Eastern China (Shanghai): 4,030-4,070 yuan ($619-626) per tonne, down 10 yuan per tonne Northern China (Beijing): 3,870-3,920 yuan per tonne, down 10 yuan per tonne Billet prices dropped sharply over the weekend due to soft demand. Rebar futures also continued last F...Read More
Chinese silicon export prices continued to fall amid thin buying appetite and a stronger dollar last week while the European market remained quiet. Metal Bulletin's Chinese grade 553 silicon metal export price dropped to $1,740-1,800 per tonne on Friday June 22, from $1,760-1,850 per tonne the week before. In China, continued environmental scrutiny has weakened demand from silicon metal consu...Read More
Swedish engineering group Sandvik has signed an agreement to sell its stainless wire business to Zapp Group. The deal includes the production unit in Sandviken, Sweden and the global sales organization, along with selected trademarks and patents and approximately 145 employees, the majority of which are in Sandviken. Revenues for the stainless wire business were 310 million SEK ($34.9 million) in...Read More
China is working toward implementing a complete ban on imports of solid waste, including all metal scrap, by the end of 2020, the country's State Council said on Sunday June 24. The cabinet said the country vows to substantially cut the amount of solid waste imports and eventually prohibit its imports in less than two years' time in an attempt to reduce soil pollution caused by waste processing, a...Read More
The European Commission (EC) needs to wait before making a decision in the safeguard case until trade flow changes become clear because, currently, there is no threat to the EU steel market from imports, Tommaso Sandrini, president of Italian steel distributors' association Assofermet told Metal Bulletin.The EC opened an investigation in late March, in an attempt to prevent steel shipments being r...Read More
Restrictions on sintering and pellet output to reduce pollution in China, along with high mill margins, have led to iron ore pellet premiums rising as mills favour the least-polluting material tomaintain output and meet emissions targets.PelletsMetal Bulletin's 65% Fe Blast Furnace Pellet Index was at $114.48 per tonne for the week ending Friday June 22, up $2.44 per tonne - or 2.2% - from $112.04...Read More
Ferro-chrome benchmark price negotiations for the third quarter of 2018 are revealing a fresh spin on some familiar topics and a more detailed look at regional price differences across the supply chain. Metal Bulletin reported last week that the widely-expected reduction in the third-quarter settlement is likely to be smaller than previously anticipated, due to strengthening ferro-chrome markets,...Read More
Ferro-chrome benchmark price negotiations for the third quarter of 2018 are revealing a fresh spin on some familiar topics and a more detailed look at regional price differences across the supply chain. Metal Bulletin reported last week that the widely-expected reduction in the third-quarter settlement is likely to be smaller than previously anticipated, due to strengthening ferro-chrome markets,...Read More
Although gold closed modestly higher on the day, the precious yellow metal scored its second consecutive week of lower pricing. Gold futures opened on Monday at $1281 per ounce and traded to a high of $1286. However, it was the weekly low of $1263 that fostered the greatest concern. Considering that gold opened just above $1,300 per ounce at the beginning of the year, the last two weeks have resul...Read More
(Kitco News) - Charles Krauthammer, the conservative columnist for Fox News and Pulitzer Prize winner, has passed away Thursday at the age of 68. During his time at Fox, Krauthammer became known as the “dean of conservative commentators” He has also appeared on Kitco News to discuss his views on the gold standard and joined a panel discussion on a Libertarian vs. Democrat vs. Republic...Read More
(Kitco News) - As gold struggles to find support after hitting a six-month low earlier this week, analysts are waiting for a reawakening of the metals’ safe-haven appeal amid a complacent market in the face of trade war fears.The yellow metal was unable to find a bid this week despite heightened trade tensions and market uncertainties, largely weighed down by the rallying U.S. dollar. August...Read More
Italy’s debt to GDP ratio is amongst the highest in the world. As the new government in Italy seeks to stimulate growth through increased borrowing, gold’s attractiveness as an asset which is not replicable and is no one’s liability will become more apparent.Italians recently elected “protest parties” M5S and La Lega, largely due to economic hardship in the coun...Read More
Zinc Calls – Zinc SELL Call b60 given at price 201.80 Achieved 1st 200 & 2nd Target 199.50 Made 199.45 low. Total Profit of 2.30 Points per lotTIPS ID b60 : Mcx Zinc Target Tips - SELL Zinc at CMP 201.80 for Target 200 - 199.50 with SL Above price 202.80 Read More
Today LME Inventory Report Data : 22/06/2018 Aluminium (-2775), Copper (-1700), Lead (-75), Nickel (-1068), && ZINC (-200) Read More
MCX ZINC TARGET TIPS TODAYMcx Zinc Target Tips – SELL Zinc at CMP 201.80 for Target 200 – 199.50 with SL Above price 202.80 Read More
(Kitco News) - Wall Street remains bullish but Main Street is mixed on the direction of gold prices in the next week, based on the Kitco News weekly survey. Gold tumbled to its lowest level in six months this week largely due to strength in the U.S. dollar. In doing so, the metal was unable to draw a safe-haven bid despite weakness in equity markets as worries about a global trade war intensified....Read More
(Kitco News) - Commerzbank looks for gold to reclaim $1,350 an ounce and silver $18 by year-end on expectations that the U.S. dollar will start to give back some of its recent strength. Gold hit a six-month low this week as the dollar hit an 11-month high, benefitting from the divergence in U.S. and European monetary policy as well as European politics, the bank said. The Federal Reserve hiked U.S...Read More