The arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday February 13* Copper -$72.96 (-463.21 yuan) Aluminium -$453.29 (-2877.91 yuan) Zinc -$126.22 (-801.37 yuan) Nickel -$389.03 (-2527.07 yuan) *The physical arbitrage numbers...Read More
Aluminium prices on the London Metal Exchange have retreated from early morning highs after a significant delivery into LME-listed warehouses in Asia caused on-warrant stock to surge by 18%. The three-month price was trading at a high of $2,151 per tonne - a $27 per tonne increase compared to Monday's close price - before warehouse stock data was released at 9am UK time. Some 166,225 tonnes were d...Read More
Base metals on the London Metal Exchange are recovering again this morning, Tuesday February 13, with prices up by an average of 0.7%. Copper ($6,924 per tonne) and nickel lead the way with gains of 0.9%, while lead is the laggard with a 0.3% increase.Volume has been average with 8,757 lots traded as of 07.07 am London time, although half of that has been in copper. This follows gains on Monday fo...Read More
The Indian government is to impose a 20% export duty on graphite electrodes from April 1, according to the International Rebar Producers & Exporters Association (Irepas).The Indian government has included a provision to change customs tariffs for certain products including electrodes in its 2018 finance bill, which is currently being debated and is expected to be put to a vote for approval by the...Read More
The Indian government is to impose a 20% export duty on graphite electrodes from April 1, according to the International Rebar Producers & Exporters Association (Irepas).The Indian government has included a provision to change customs tariffs for certain products including electrodes in its 2018 finance bill, which is currently being debated and is expected to be put to a vote for approval by the...Read More
The Indian government is to impose a 20% export duty on graphite electrodes from April 1, according to the International Rebar Producers & Exporters Association (Irepas).The Indian government has included a provision to change customs tariffs for certain products including electrodes in its 2018 finance bill, which is currently being debated and is expected to be put to a vote for approval by the...Read More
MELBOURNE, Feb 13 (Reuters) - S&P on Wednesday raised its long-term issuer credit rating on global miner Rio Tinto to 'A' from 'A-' on the back of the miner's strong financial results and said the rating outlook is stable."The upgrade reflects Rio Tinto's journey of strengthening its balance sheet and living by its financial policy for the past two years," S&P said. (Reporting b...Read More
The Prospectors & Developers Association of Canada (PDAC) is best known for its annual convention, bringing together prospectors, developers, geoscientists, consultants, and mining executives, among others. Considered the mammoth of all mining conferences, this annual event attracts more than 24,000 attendees from more than 130 countries. The four-day annual convention held yearly in Toronto,...Read More
(Adds background, Ohio senators' statement)WASHINGTON, Feb 12 (Reuters) - U.S. President Donald Trump will meet with a bipartisan group of lawmakers on Tuesday to discuss trade matters, as he ponders whether to takes steps to limit steel and aluminum imports seen as damaging to U.S. businesses.A month ago the Commerce Department handed Trump the results of its investigation into steel and aluminu...Read More
Gold stages an impressive recovery today and, as of 3:30 PM Eastern standard time, is trading up $10.20 (April futures) at $1325.90. This upside spike is truly a combination of both a weaker U.S. dollar along with buyers bidding up the precious yellow metal.According to the Kitco Gold Index, spot gold is currently fixed at $1323.30, which is a net gain of $7.60 on the day. On closer inspection, it...Read More
(Kitco News) - Gold and silver prices were ending the U.S. day session with solid gains Monday. The precious metals were supported by a weaker U.S. dollar index and a rebound in crude oil prices. Some short covering in the futures market and bargain hunting in the cash market were featured in both metals, following last week’s selling pressure. Impressively, the metals were able to post good...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
(Kitco News) - Analysts are optimistic when it comes to Chinese gold demand for the Lunar New Year, stating that they expect to see strong growth despite higher gold prices. China is already seeing an improvement in gold demand ahead of the Lunar celebrations, which will usher in the year of the Dog on Feb. 16. The occasion has historically been a key gold-buying opportunity for consumers in a c...Read More
Steel billet prices in the global markets went down slightly or remained stable, except in Southeast Asia, during the working week from Monday February 2 to Friday February 9.In Southeast Asia, prices strengthened amid tight supply, while export prices out of Turkey, India and the CIS region remained largely stable over the past week.Meanwhile, billet prices in the import markets of Latin America,...Read More
Steel billet prices in the global markets went down slightly or remained stable, except in Southeast Asia, during the working week from Monday February 2 to Friday February 9.In Southeast Asia, prices strengthened amid tight supply, while export prices out of Turkey, India and the CIS region remained largely stable over the past week.Meanwhile, billet prices in the import markets of Latin America,...Read More
The copper price trading on the London Metal Exchange managed to hold on to most of its early morning gains to close $76 per tonne higher on Monday February 12. The three-month copper price is now trading back above $6,800 per tonne and the red metal continues to stabilize after falling to a two-month low after the equity market plummeted and the dollar recovered. The majority of metals closed in...Read More
Comex copper prices bounced back on Monday February 12 morning in the US due to a weaker dollar and the market stabilizing after heavy losses last week.Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 4.15 cents or 1.4% to $3.0750 per lb. On Friday, the contract tumbled to its lowest point since December 14, 2017.Base metals were driven lower last week whi...Read More
The early-February sell-off in London Metal Exchange base metals seems to have run its course for now, but it may have not been as extreme as it could have been, ironically because of the growing influence of computerized trading systems.At the end of December last year, copper traded as high as $7,291.50 per tonne, and was pretty much maintained at solid levels comfortably above $7,000 for the fi...Read More
Tungsten prices climbed higher last week in Europe amid tightening spot supply, while the Chinese market has started to wind down ahead of the week-long national holiday for Chinese New Year. China's tungsten market starts to wind down ahead of Lunar New Year Tightness in tungsten concentrate to continue in the first quarter ahead of China's National People's Congress scheduled for March&nbs...Read More
Chinese ferro-silicon prices have been flat over the past week before the Lunar New Year holiday, the European market dropped further amid slow demand and US prices were supported by supply tightness. Chinese activity pauses ahead of holiday Slow activity in Europe prompts lower offer prices Supply tightness underpins US market China holds steady before holidayChinese domestic fer...Read More