The Argentinian government has agreed to quotas on steel products exported to the United States, thus avoiding tariffs associated with the US' Section 232 investigation, according to national steel association Acero Argentino.The country agreed to limit exports of steel products to the US to 180,000 tonnes per year, based on the average of steel exports during the past three years plus an addition...Read More
China could be badly affected by a shrinking import market for hot-rolled coil in Vietnam once Formosa Ha Tinh Steel fires up its new blast furnace this month, market sources told Metal Bulletin this week.Formosa Ha Tinh plans to increase its mill operating rates to "high" levels once its fires up its new 4,300 cubic meter No2 blast furnace in mid-May, a source told Metal Bulletin this week."...Read More
Zinc Mcx – Zinc SELL Call 740 given at price 206.55 Achieved 2nd Target 205.10. CMP 204.90. Total Profit of 1.45 x 2 lot = 2.9 PointsTIPS ID 740 : Zinc Calls - SELL Zinc at CMP 206.55 for Target 205.70 - 205.10 with SL Above price 207.35. RISK taker trade 2 lotsAFTER POST CONTENT Read More
Zinc Call – BUY Zinc at CMP 205.85 for Target 206.85 – 207.60 with SL Below price 204.80AFTER POST CONTENT Read More
Zinc Free Call – Zinc Mcx Sell call 740 given at price 206.55 Achieved 1st Target 205.70. Made 205.30 low. Total profit of 0.85 x 2 lot = 1.7 Points740 : Zinc Calls - SELL Zinc at CMP 206.55 for Target 205.70 - 205.10 with SL Above price 207.35. RISK taker trade 2 lotsAFTER POST CONTENT Read More
Zinc Today – Zinc SELL Cal l740 given at price 206.55. CMP 206. Low risk taker book 0.55 x 2 lot = 1.10 Points740 – Zinc Calls - SELL Zinc at CMP 206.55 for Target 205.70 - 205.10 with SL Above price 207.35. RISK taker trade 2 lotsAFTER POST CONTENT Read More
Zinc Calls – SELL Zinc at CMP 206.55 for Target 205.70 – 205.10 with SL Above price 207.35. RISK taker trade 2 lotsAFTER POST CONTENT Read More
Nickel Today – SELL Nickel if Price at CMP 916 for Target 910 – 902 with SL Above price 924AFTER POST CONTENT Read More
WASHINGTON (Reuters) - U.S. Trade Representative Robert Lighthizer said on Tuesday it was not his objective to change China’s economic system, but he would try to find ways to limit the damage it causes to the United States and open it further for U.S. companies.Speaking at the U.S. Chamber of Commerce ahead of his participation in a Trump administration trade delegation to China later this...Read More
BEVERLY HILLS, Calif (Reuters) - The following are highlights from this week’s Milken Institute Global Conference in Beverly Hills:CHRISTOPHER GIANCARLO, CHAIRMAN OF UNITED STATES COMMODITY FUTURES TRADING COMMISSION, ON BITCOIN:“We need to take a moment and respect this generation’s interest in this new instrument (bitcoin). Not with derision, but with a little bit of attention...Read More
(Kitco News) - Gold and silver prices are solidly down and have dropped to 4.5-month lows in early-afternoon U.S. trading Tuesday. Gold is struggling to hold above the very important $1,300.00 price level. The recent solid rally in the U.S. dollar index, which hit a four-month high today, continues to squelch buyer interest in the precious metals markets. Chart-based selling has also kicked in for...Read More
(Kitco News) - The amount of gold and silver transferred between accounts of London Bullion Market Association members fell during March, the organization reported Tuesday.The LBMA releases clearing statistics each month showing the net volume of gold and silver transferred between accounts of members, essentially providing a snapshot of the amount of trading activity.The volume of gold ounces tr...Read More
(Kitco News) - Goldman Sachs analysts do not look for silver to gain ground on gold in the coming months, even though they are bullish on gold itself. The investment bank Tuesday released a report maintaining its view that gold will climb toward $1,450 an ounce by the end of the year even if real interest rates rise. However, analysts called for the gold-silver ratio to remain stable, meaning that...Read More
(Kitco News) - Gold prices continue to hover near a four-month low even as momentum in the manufacturing sector continues to fade, according to the latest data from the Institute for Supply management (ISM)Tuesday, the ISM said its manufacturing index showed a reading of 57.3% for April, down from March's reading of 59.3%. The data was weaker than expected as consensus forecasts were calling for a...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
Centerra Gold Inc. (TSX: CG) reports net earnings of $9 million, or 3 cents per share, in the first quarter, down from $57 million, or 20 cents, in the same period a year ago. The January-March results include charges of $4.4 million for the acquisition of AuRico Metals Inc. Excluding this, adjusted earnings in the first quarter were $13.5 million, or a nickel. Revenue fell to $235 million from...Read More
Today is the first day of May and the new month is not helping the metals, which struggled through the month of April. Gold has lost about 4% from the highs in early April, with three consecutive ugly down weeks. The recent action brings a possible ugly run into the mix. Gold is now breaking down through major support and failure here brings the possibility of much lower prices. This week brings a...Read More
As gold’s slide continues, the 200-day moving average and psychologically important $1,300 level become a key support area for the precious metal, says MKS (Switzerland) S.A. As of 7:55 a.m. EDT, spot gold was $7.40 lower to $1,308.20 an ounce and bottomed at $1,307.70, its weakest level since March. ““Support-wise, we are nearing some key technical levels with the 200 DMA at $1,...Read More
Base metals on the London Metal Exchange were mostly lower at the close of trading on Tuesday May 1, coming under pressure from a stronger dollar index.Zinc was the largest faller of the day, down 2.5%. It bottomed out at $3,054 per tonne this afternoon, its lowest figure since December 2017. The metal's fundamental picture was rattled last week after more than 60,000 tonnes of zinc were delivered...Read More
Spot zinc concentrate treatment charges basis CIF to major East Asian ports remained flat while lead concentrate terms declined marginally in April.The market remains extremely tight for spot concentrates, with mine supply yet to translate into markedly higher terms paid for cargoes.In China, the domestic zinc market's delivered TCs fell further, while mines struggled to ramp up and feed demand fr...Read More