(Kitco News) - Gold prices are sharply down and have sunk to a nearly six-month low in late-morning action Friday. A slumping raw commodity sector in the face of a potential worldwide trade war among major global economies has hit raw commodity prices hard today. The Trump administration has today slapped new import tariffs on Chinese goods coming into the U.S. The gold market on this day has deci...Read More
(Kitco News) - The gold market is seeing renewed selling pressure Friday morning even as equity markets open sharply down. The Dow Jones Industrial Average opened the session down more than 100 points or 0.5% on the day, last trading at 25,013 points. At the same time, the S&P 500 Index opened the day down 11 points or 0.4%, last trading at 2,771 points. According to George Gero, managing...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
After the ECB left rates unchanged on Thursday, gold took off to the upside, trading as high as $1,313 before giving back half of its gains. This morning gold is under a little pressure, which is probably a buying opportunity considering it has been trending higher since the blow-off bottom on May 14. Commodities got hammered on Thursday, especially the grains, which are getting pounded again this...Read More
The latest news and price moves to start the Asian day on Friday June 15.Nickel prices on the London Metal Exchange recorded the largest losses of the day at the close of trading on Thursday June 14, leading the complex lower amid sharp drops in lead, copper and zinc prices. Read more in our live futures report.Here are how prices looked at the close of trading:A gap between three-month zinc...Read More
The latest news and price moves to start the Asian day on Friday June 15.Nickel prices on the London Metal Exchange recorded the largest losses of the day at the close of trading on Thursday June 14, leading the complex lower amid sharp drops in lead, copper and zinc prices. Read more in our live futures report.Here are how prices looked at the close of trading:A gap between three-month zinc...Read More
The latest news and price moves to start the Asian day on Friday June 15.Nickel prices on the London Metal Exchange recorded the largest losses of the day at the close of trading on Thursday June 14, leading the complex lower amid sharp drops in lead, copper and zinc prices. Read more in our live futures report.Here are how prices looked at the close of trading:A gap between three-month zinc...Read More
The US billet upcharge hit another all-time high this week, fueled mostly by issues with suppliers getting material to buyers on time, combined with the continued absence of UC Rusal from the US spot market. Other premiums throughout the globe remained generally steady.US billet premium rises on lessened 6063 availabilityThe US spot extrusion billet upcharge rose to a record high of 17-19 cents pe...Read More
China's metal processing and mining equipment sectors will be counting the cost of new tariffs announced on Friday June 15 by United States Trade Representative (USTR) Robert Lighthizer.They involve $50 billion worth of Chinese exports being hit by 25% duties, additional to duties already applied. They will cover China-made exports of a wide range of metal-making and mining machinery, and a s...Read More
The latest metal news and price moves to start the North American day on Friday June 15.Base metals prices on the London Metal Exchange were mostly lower again during morning trading despite nickel recouping some of its losses.Here's how three-month LME base metals prices...Read More
Key data from the pricing session in the week ending Friday June 15.China Chinese domestic ferro-chrome market strengthens further owing to tightened supply following a new round of environmental inspections in 2018. Higher prices reported for imported charge chrome this week, buoyed by fuel costs increase in winter of South Africa and supply disruptions during maintenance period...Read More
China's domestic spot battery-grade lithium carbonate prices fell further in thin buying this week but lithium hydroxide prices held steady.Asian seaborne battery-grade lithium carbonate prices also edged down, reflecting the continued fall in Chinese prices.A further fall in battery-grade lithium carbonate prices in China weighs on seaborne cif China, Japan and Korea market pricesDownstream consu...Read More
Key data from the pricing session in the week ending Friday June 15.China Chinese domestic ferro-chrome market strengthens further owing to tightened supply following a new round of environmental inspections in 2018. Higher prices reported for imported charge chrome this week, buoyed by fuel costs increase in winter of South Africa and supply disruptions during maintenance period...Read More
UK domestic prices for austenitic alloy steel scrap decreased this week on slowing demand and a fall in the price of nickel toward the close of last week.On Friday June 15, the London Metal Exchange three-month official nickel bid/offer spread was $15,330/15,350 per tonne, up slightly from $15,300/15,305 per tonne on June 8. However, this was down from the June 7 price of $15,755/15,760 per tonne,...Read More
Turkish scrap import prices recovered in the week ended Friday June 15 on steady demand from the country's steel mills. This was due to bullish sentiment in the markets arising from the United States' decision to impose its Section 232 import tariffs on material from the EU, Canada and Mexico.East Coast fob prices in the US were up due to the Turkish demand. Taiwan import prices rose similarly, wi...Read More
Turkish scrap import prices edged up slightly on Friday June 15, when two deep-sea cargoes came to light that had been booked earlier.No new deals were heard on June 15 with Turkey celebrating the Eid Al-Fitr holiday to mark the end of the Islamic holy month of Ramadan, but two deep-sea cargoes had been heard late on Thursday after...Read More
Three-month base metals prices on the London Metal Exchange were for the most part lower on the morning of Friday June 15, led by a 0.6% fall in zinc prices to $3,161 per tonne.While nickel gained 0.3%, the rest are off between 0.1% and 0.2%. Copper prices were recently quoted at $7,153 per tonne.Volumes have been average with 5,356 lots traded as of 0707 London time. This follows a day of we...Read More
China's domestic spot battery-grade lithium carbonate prices fell further in thin buying this week but lithium hydroxide prices held steady.Asian seaborne battery-grade lithium carbonate prices also edged down, reflecting the continued fall in Chinese prices.A further fall in battery-grade lithium carbonate prices in China weighs on seaborne cif China, Japan and Korea market pricesDownstream consu...Read More
Prices for imports of South Korea-origin hot rolled coil (HRC) into India have fallen by about $15 per tonne this week to $645-650 per tonne cfr Chennai port.This compared with a similar South Korean HRC shipment booked more than a month ago at $660-665 per tonne cfr Chennai port.The South Korean cargo, scheduled for shipment in July, was agreed by a Chennai-based end-user after importers in Mumba...Read More
China's domestic hot-rolled coil prices were largely flat on Friday June 15, with traders and buyers in wait-and-see mode before the country's upcoming three-day public holiday.DomesticEastern China (Shanghai): 4,310-4,320 yuan ($674-675) per tonne, narrowed by 10 yuan per tonne at both ends of the range.Northern China (Tianjin): 4,240-4,250 yuan per tonne, narrowed down by 10 yuan per t...Read More