The rising trend in the Chinese antimony market continued last week - tightness in concentrate supply and concerns about further production cuts while environmental inspections continue propelled prices there higher. Metal Bulletin assessed the MMTA Standard Grade II delivered duty paid antimony metal price at 52,000-52,500 yuan ($8,111-8,189) per tonne on Wednesday May 30, up 1,000 yuan from...Read More
The Chinese silicon export price dropped on weakening demand from Japanese automakers with some domestic production to resume by mid-June, while European prices followed the Chinese market down.The Chinese grade-553 silicon export price widened downward 0.8% to $1,810-1,900 per tonne on Friday June 1 from $1,840-1,900 per tonne on May 25.Although Japanese traders, the largest buyers of Chinese sil...Read More
Cobalt prices continued to fall during the second half of last week, and prices for both grades converged, amid continuing profit-taking and slower demand from consumers. Metal Bulletin assessed prices for low and high-grade cobalt metal at $42-43 per lb, in-warehouse, on Friday June 1, down 0.8% and 0.9% respectively compared with the midweek assessment. Consumers have taken a step...Read More
June 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...Read More
Almost all cobalt production in Jiangxi province, China, has been suspended due to an ongoing environmental inspection in the region, according to market sources. China's central government has sent inspection teams to 10 provinces, including Jiangxi, to carry out one-month inspections in the region starting on Friday June 1, the Ministry of Ecology and Environment said on its website on Friday. T...Read More
Metal Bulletin is proposing a change to the publication day of its China stainless steel assessments and specifications of that for East Asia to better reflect trading fundamentals and align weekly price movements.From July 11, 2018, the China domestic grade 304 stainless steel cold-rolled coil (2mm) yuan per tonne in-warehouse price and the China domestic grade 430 2mm stainless steel cold-rolled...Read More
US scrap exporters are enjoying short-term relief from the restart of China's North American customs inspections division, but longer-term fears are emerging about stricter guidelines complicating future shipments and trade with that nation.The inspection operations of the Chinese Certification and Inspection Group (CCIC) North America will officially resume on Friday June 8."Due to the need for s...Read More
The North American division of the China National Certification and Inspection Group (CCIC) will resume inspections of scrap shipments following the end of a one-month suspension, CCIC said on Friday June 1. The CCIC's North American division will start accepting inspection applications on Friday June 8 and it takes at least five working days to arrange the date of the inspection, the group said i...Read More
There have been many adjectives used to describe the current president of the United States, both by his supporters as well as his critics. However, words like "tight-lipped, wordless, and quiet," are rarely if ever used to describe Trump. Case in point, an early morning tweet at 7:21 AM EST, one hour and nine minutes before the release of the Labor Department's monthly employment numbers. Simply...Read More
(Kitco News) - While gold could struggle around the $1,300 an ounce level for the next two weeks, the market’s best days this year are stll ahead, said one market analyst.In an interview with Kitco News, George Milling-Stanley, head of gold investments at State Street Global Advisors, said that investors have to wait until after the Federal Reserve’s monetary policy decision on Ju...Read More
Today LME Stock : 01/06/2018Daily LME stock is as follows: Aluminium up by 500MT, Copper up by 6425MT, Lead down by -75MT, Nickel down by -2958MT & Zinc down by -100MT. Read More
(Kitco News) - In a quiet week for economic data, the gold market will be laser-focused on the rapidly approaching Federal Reserve monetary policy meeting.Among some commodity analysts, sentiment in the gold market has turned decisively bearish as prices readjust to a more certain rate hike outlook on June 13 following strong U.S. employment figures and further upside in the U.S. dollar.The May U....Read More
Copper Calls – SELL Copper at CMP 456.50 Add more at price 458 with SL 459.20 for Target 453.50 – 452.20 Read More
ROME (Reuters) - Giuseppe Conte was sworn in on Friday as Italy's prime minister, heading western Europe's first anti-establishment government bent on overhauling European Union rules on budgets and immigration.Conte, a little-known 53-year-old law professor, is backed by the 5-Star Movement which grew out of a grassroots protest network, and the right-wing League who have issued a budget-busting...Read More
(Kitco News) - Wall Street turned bearish on the short-term direction of gold prices while Main Street remained slightly bullish, based on the Kitco News weekly survey.Comex August gold traded on both sides of $1,300 an ounce this week, ultimately softening on Friday in the wake of a stronger-than-forecast U.S. employment report. Nonfarm payrolls climbed 223,000 in May, the Labor Department said.F...Read More
(Kitco News) - In this column a few weeks ago, I mentioned gold may continue to be under pressure until we see the rising U.S. dollar reach a technical target of 95 on the cash-settled index and I had assumed at the time, gold would be below $1280 when it was reached. However, I was pleasantly surprised to see the safe haven metal trading back above $1300 when it hit 94.97 earlier this week. The 1...Read More
(Kitco News) - Gold and silver prices are lower in early U.S. trading Friday, in the wake of a strong U.S. jobs report for May that boosted the U.S. dollar index and also hints at a more aggressive monetary policy from the Federal Reserve. August Comex gold futures were last down $8.80 an ounce at $1,295.90. July Comex silver was last down $0.098 at $16.365 an ounce. Friday morning’s U.S. jo...Read More
(Kitco News) - Gold prices remain under pressure ahead of the weekend as the U.S. economy created more jobs than expected in May.Friday, The Bureau of Labor Statistics said 223,000 jobs were created last month. Economists were expecting to see job gains of 189,000.At the same time, the unemployment rate fell to 3.8%, beating expectations for a reading of 3.9%.Gold prices have pushed solidly below...Read More
(Kitco News) - Gold prices are under some selling pressure ahead of this morning's U.S. payroll data. The fact that that the President tweeted his anticipation of seeing the numbers, when he has already been briefed on the data release, suggests the job creation number may be on the high side. The Fed is no longer looking at the jobs number but their gauge is the average hourly earnings number, wh...Read More
The latest news and price moves to start the Asian day on Friday June 1.Base metals prices on the London Metal Exchange closed mostly higher on Thursday May 31, ending the month broadly supported with most metals trading in positive territory. Read more in our live futures report.Here are how prices looked at the close of trading:The government in the United States has decided to implement Se...Read More