(Kitco News) - Over the weekend, the big news was the possible deal made with China and the United States on the trade wars and tariffs. Sunday night on the initial opening of the markets, gold hovered around the unchanged line before selling off and testing very near our $1,280 target, trading at $1,281.20. Gold held that low and we would consider that close enough to our target. We are now looki...Read More
SHANGHAI, May 21 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendAs the US treasury yield climbed, the US dollar index rose 1.2% to close at 93.66 and registered on Friday a new high at 93.83 since December last year.Base metals trading was rather weak and mixed on Friday. LME aluminium slid over 1% to a two-week low on smaller-than-...Read More
SHANGHAI, May 21 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendAs the US treasury yield climbed, the US dollar index rose 1.2% to close at 93.66 and registered on Friday a new high at 93.83 since December last year.Base metals trading was rather weak and mixed on Friday. LME aluminium slid over 1% to a two-week low on smaller-than-...Read More
SHANGHAI, May 21 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendAs the US treasury yield climbed, the US dollar index rose 1.2% to close at 93.66 and registered on Friday a new high at 93.83 since December last year.Base metals trading was rather weak and mixed on Friday. LME aluminium slid over 1% to a two-week low on smaller-than-...Read More
Prices in the international steel billet market moved in different directions in the week ended Friday May 18 with the factors influencing market decisions varying from region to region.Suppliers in the CIS region were bullish, suggesting that Iran will not be able to sell its semi-finished products as it has been doing because of the threatened reimposition of sanctions by the United States after...Read More
Prices in the international steel billet market moved in different directions in the week ended Friday May 18 with the factors influencing market decisions varying from region to region.Suppliers in the CIS region were bullish, suggesting that Iran will not be able to sell its semi-finished products as it has been doing because of the threatened reimposition of sanctions by the United States after...Read More
Canada-based Cobalt Blockchain Inc (COBC) expects final ratification shortly for a copper/cobalt trading and export license that will allow it to establish regional buying depots in the Democratic Republic of Congo (DRC), process minerals in-country and export internationally. The exploration and development company, which has assets in the DRC, said its application for the license as well as all...Read More
Base metals on the London Metal Exchange were predominantly higher at the close of trading on Monday May 21, with zinc and lead breaking through recent support and resisting the US dollar's six-month high. Lead's three-month price climbed 3.3% to break past the $2,400-per-tonne mark, with its cash/three-month spread currently in a contango of $12.25 per tonne. The metal continued to find...Read More
Jiangxi Copper, China's largest copper smelter, is planning to set up metal concentrates blending and scrap processing operations in Southeast Asian countries, Metal Bulletin has learned. "The blending operation will receive complex concentrates with high arsenic content. The scale of the blending capacity is not set yet. Jiangxi Copper has no such overseas blending operation so it is a new move f...Read More
Manganese ore prices fell heavily over week ended Friday May 18, in particular the price for 44% manganese, with sellers accepting the refusal among buyers to pay higher prices.Price of 44% manganese ore slides by 11.4%Chinese alloy prices soften and inventories tick upwardTop price for Indian silico-manganese dipsEuropean silico-manganese price dropsUS alloys spot demand quiet; lower ore prices t...Read More
Ferro-chrome prices rose in China for domestic and imported material on Friday May 18 due to producers standing firm on offer prices in a tighter market. Ore and alloy prices rise in China Chinese market reports alloy production cuts Alloy prices in South Korea follow China higher Alloy prices hold in Europe and Japan US market quiet, prices edge up on small volume trades Ferr...Read More
Ferro-chrome prices rose in China for domestic and imported material on Friday May 18 due to producers standing firm on offer prices in a tighter market. Ore and alloy prices rise in China Chinese market reports alloy production cuts Alloy prices in South Korea follow China higher Alloy prices hold in Europe and Japan US market quiet, prices edge up on small volume trades Ferr...Read More
Jiangxi Copper, China's largest copper smelter, is planning to set up metal concentrates blending and scrap processing operations in Southeast Asian countries, Metal Bulletin has learned. "The blending operation will receive complex concentrates with high arsenic content. The scale of the blending capacity is not set yet. Jiangxi Copper has no such overseas blending operation so it is a new move f...Read More
The rapid ramp-up in alumina production while domestic high-grade bauxite resources deplete is the biggest challenge for China's alumina industry, Yin Zhonglin, director of Alumina Research Department at Aluminum Corporation of China Limited (Chalco) Zhengzhou Research Institute, said at Asian Metal's Aluminium Raw Materials Conference, held in Jinan on May 18.Yet instead of widely relying on impo...Read More
Canada-based Cobalt Blockchain Inc (COBC) expects final ratification shortly for a copper/cobalt trading and export license that will allow it to establish regional buying depots in the Democratic Republic of Congo (DRC), process minerals in-country and export internationally. The exploration and development company, which has assets in the DRC, said its application for the license as well as all...Read More
Cobalt 27 has agreed an $80 million revolving credit facility to help fund its investments in the mineral industries, including streaming and royalty agreements, the company said late last week. The credit facility, "significantly strengthens Cobalt 27's liquidity and provides the financial capacity to accelerate our plans to close streaming transactions," Anthony Milewski, chairman and chief exec...Read More
After a strong first quarter of 2018, when more ferrous scrap produced in the United States was bought both at home and abroad, it appeared that the country's scrap sellers were well placed to fend off buyers' attempts to push market prices downward.Price increases in the US domestic scrap market, combined with increasing mill capacity utilization rates and an 80% bounce in US scrap export volumes...Read More
The Turkish steel producers went quiet again in the deep-sea scrap markets on Monday May 21, amid sluggish demand for finished steel and the continuing weakening of the country's lira.The mills in the country booked only three deep-sea cargoes last week, with prices going down to $345 per tonne cfr for Baltic Sea-origin HMS 1&2 (80:20) in the most recent transaction.Market sources said that the mi...Read More
Jiangxi Copper, China's largest copper smelter, is planning to set up metal concentrates blending and scrap processing operations in Southeast Asian countries, Metal Bulletin has learned. "The blending operation will receive complex concentrates with high arsenic content. The scale of the blending capacity is not set yet. Jiangxi Copper has no such overseas blending operation so it is a new move f...Read More
Comex copper reached a one-week high Monday May 21 morning in the US, with easing trade tensions between China and the US producing higher prices for equities and metals.Copper for July settlement on the Comex division of the New York Mercantile Exchange gained 3.65 cents or 1.2% to $3.100 per lb. Earlier, the contract touched a high of $3.115, the highest since May 14."Despite the mostly positive...Read More