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
Silver has moved back above $17 an ounce for the first time in roughly two months, points out Commerzbank. “Silver was pulled up by the base metals yesterday and is making further gains this morning,” Commerzbank says. “For the first time in almost eight weeks, silver is priced at over $17 per troy ounce again. That said, its excursion above this mark lasted only three days in Ap...Read More
(Kitco News) - It makes sense to hold some commodities in a diversified portfolio in this late stage of a business cycle, according to one commodity fund manager.In an interview with Kitco News John Love, president and CEO of USCF said that he sees positive long-term prospects for broad commodities, as equity markets appear to be reaching their pinnacle.“We’ve had a tremendous bull mar...Read More
(Kitco News) - Gold traded as we expected after the Fed raised rates yesterday -- first a swoon on the announcement and then a pop. This has been the pattern for the last three rate hikes. Although the message from the Fed was hawkish, indicating further rate hikes this year, traders ignored the statement and began focusing again on global issues, specifically the looming trade wars. There is a co...Read More
The latest news and price moves to start the Asian day on Thursday June 14.Base metals prices on the London Metal Exchange were mixed...Read More
The latest news and price moves to start the Asian day on Thursday June 14.Base metals prices on the London Metal Exchange were mixed...Read More
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. Results from China's macro-economic data, including a lower than expected rise in fixed asset investment, and a weaker dollar index has put pressure on the base metals complex.China's fixed asset i...Read More
A gap between the three-month prices of zinc and lead on the London Metal Exchange could generally narrow and become more settled in the coming weeks after an extended period of flux, market participants suggested.The prices of zinc and lead have historically tended to trade in tandem on the LME but they have diverged to a greater degree over the past couple of years - global supply discrepancies...Read More
Comex copper prices failed to hold momentum on Thursday morning in the US, with the Federal Reserve's decision to increase interest rates spurring a dollar rally and sinking the base metals group.Copper for July settlement on the Comex division of the New York Mercantile Exchange declined 2 cents or 0.6% to $3.2340 per lb. Yesterday, the US Federal Open Market Committee raised interest rates...Read More
European spot prices for molybdic oxide have decreased so far this week on lower deals done in Europe and in Asia, with ferro-molybdenum tracking the move while there is relatively low buying interest, sources said.European ferro-molybdenum consumers in the steel sector appear satisfied with their long-term contracted intake of alloys at present, while South Korea was closed for a national holiday...Read More
Key data from the Wednesday June 13 pricing session in Europe.Key drivers - Ferro-titanium prices have edged lower but steady demand should persist in the near term and keep prices in, or close to, the current range, sources said. - A tender for three truckloads of ferro-titanium from Swedish steelmaker SSAB has been settled at well below $5 per kg, according to...Read More
Key data from the Wednesday June 13 pricing session in Europe.Key drivers - Ferro-titanium prices have edged lower but steady demand should persist in the near term and keep prices in, or close to, the current range, sources said. - A tender for three truckloads of ferro-titanium from Swedish steelmaker SSAB has been settled at well below $5 per kg, according to...Read More
Germanium prices in Europe fell on Wednesday June 14 as a result of surplus material available in China and low demand from end users.Metal Bulletin assessed germanium metal at $1,560-1,660 per kg on an in-warehouse Rotterdam basis on Wednesday, down 5.3% from $1,650-1,750 per kg the previous week."A European trader offered us 50 kilograms of germanium at $1,575 per tonne, but we didn't buy, so I...Read More
Cobalt trade log including business, bids and offers reported to Metal Bulletin.Unless otherwise stated, all prices are per lb on an in-warehouse basis. Delivered prices are netted back. Metal Bulletin prices Click here for Metal Bulletin's price assessment for low-grade cobalt, in-warehouse, $ per lb Click here for Metal Bulletin's price assessment for high-grade cobalt, in-warehouse, $ per lb In...Read More
Turkish scrap import prices have continued to increase on Thursday June 14, with the mills remaining active in the deep-sea scrap markets.A steel mill in the Iskenderun region booked a European cargo, comprising 18,000 tonnes of HMS 1&2 (75:25) at $343.50 per tonne and 12,000 tonnes of bonus at $364 per tonne cfr.Following...Read More
Key data from the Wednesday June 13 pricing session in Europe.Key drivers - Ferro-titanium prices have edged lower but steady demand should persist in the near term and keep prices in, or close to, the current range, sources said. - A tender for three truckloads of ferro-titanium from Swedish steelmaker SSAB has been settled at well below $5 per kg, according to...Read More
Comex copper prices failed to hold momentum on Thursday morning in the US, with the Federal Reserve's decision to increase interest rates spurring a dollar rally and sinking the base metals group.Copper for July settlement on the Comex division of the New York Mercantile Exchange declined 2 cents or 0.6% to $3.2340 per lb. Yesterday, the US Federal Open Market Committee raised interest rates...Read More
Disappointing Chinese economic data suggests there is little to be bullish about and therefore it is unsurprising that the three-month base metals prices on the London Metal Exchange were down across the board by an average of 0.7% on the morning of Thursday June 14.Nickel led on the downside with a 1.9% drop to $15,355 per tonne, while the rest were down between 0.4% and 0.5%, with copper down by...Read More
China's domestic hot-rolled coil prices halted their recent rises on Thursday June 14 amid weaker demand. Domestic Eastern China (Shanghai): 4,300-4,330 yuan ($671-676) per tonne, widened down 10 yuan per tonne Northern China (Tianjin): 4,240-4,260 yuan per tonne, unchanged HRC prices were flat or down slightly in the domestic Chinese market today despite a continued rally in the futures...Read More
China's coke futures surged ahead during morning trading on Thursday June 14, while finished steel and iron ore contracts saw only minimal fluctuations.Futures closing prices - morning sessionShanghai Futures Exchange October rebar: 3,885 yuan ($607) per tonne, up 3 yuan per tonne October hot-rolled coil: 3,971 yuan per tonne, down 2 yuan per tonne Dalian Commodity Exchange September iron ore: 473...Read More