Copper prices on the London Metal Exchange have recovered 1.3% during morning trading on Wednesday January 24 despite another large delivery into LME warehouses. The three-month copper price plummeted to a 2018 low of $6,885 per tonne yesterday after inventories increased a net 36,300 tonnes to 248,075 tonnes. A further 28,600 tonnes were delivered in today across Asian locations, taking the total...Read More
Manganese flake prices surged above $2,000 per tonne amid ongoing environmental inspections in China with further production disruptions adding fresh impetus to this year's rally."The price rally seems to be heading up. I had bids at $1,950 for prompt in Rotterdam this week. I am not selling at this level anymore though. I'm holding out for above $2,000 now," a manganese trader told Metal Bulletin...Read More
Silicon metal prices in the United States will find limited support from US President Donald Trump's decision to impose hefty duties on imported solar panels, industry sources said. While the measure could encourage local production and consequently have an impact on the demand for silicon, the key driver for the metal's price will be the final determinations on the trade investigations of US sili...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Metal Bulletin minor metals prices changed on Wednesday January 24:Minor metals Antimony MB free market regulus, $/tonne: $8,200-8,500 per tonne from $8,100-8,400 Antimony MMTA standard grade II, $/tonne: $8,200-8,500 per tonne from $8,100-8,400 Cadmium MB free market min 99.99%, cents/lb: 99-110 cents per lb from 99-108 Cobalt MB...Read More
Chinese cobalt metal prices moved up slightly in the midweek session, closely following the trend in international cobalt prices.Metal Bulletin assessed the domestic Chinese cobalt price at 575,000-600,000 yuan per tonne (equivalent to about $34.83-36.34 per lb China VAT-free) on Wednesday January 24, up 0.4% from Friday. The Chinese cobalt market has managed to narrow the price gap with inte...Read More
The following Metal Bulletin UK non-ferrous scrap and foundry ingot prices changed on Wednesday January 24:Aluminium scrap Baled old rolled: ?950-980 per tonne from ?950-970 Group...Read More
Lithium fans, take note. The metal's crown as the leading raw material in batteries for electric vehicles (EVs) is facing increasing competition from other products such as cobalt and nickel. Lithium has hogged the top spot in EV batteries for some time, largely due to its early adoption in technology developed by Tesla. For more than a decade, the US-based company has been using lithium-ion batte...Read More
Lithium fans, take note. The metal's crown as the leading raw material in batteries for electric vehicles (EVs) is facing increasing competition from other products such as cobalt and nickel. Lithium has hogged the top spot in EV batteries for some time, largely due to its early adoption in technology developed by Tesla. For more than a decade, the US-based company has been using lithium-ion batte...Read More
Lithium fans, take note. The metal's crown as the leading raw material in batteries for electric vehicles (EVs) is facing increasing competition from other products such as cobalt and nickel. Lithium has hogged the top spot in EV batteries for some time, largely due to its early adoption in technology developed by Tesla. For more than a decade, the US-based company has been using lithium-ion batte...Read More
Lithium fans, take note. The metal's crown as the leading raw material in batteries for electric vehicles (EVs) is facing increasing competition from other products such as cobalt and nickel. Lithium has hogged the top spot in EV batteries for some time, largely due to its early adoption in technology developed by Tesla. For more than a decade, the US-based company has been using lithium-ion batte...Read More
(Kitco News) - Gold stocks and not gold prices will have a breakout year in 2018, largely because people are not “afraid of anything right now,” said CEO of Sprott U.S. Holdings Rick Rule.“Gold will do well this year, but it is not on a verge of a breakout, gold stocks are. Gold outperformed gold stocks last year and this year [the underdog] is going to surprise, particularly bec...Read More
By Nicole MordantVANCOUVER, Jan 23 (Reuters) - Small, opportunistic deals will dominate the global gold mining sector again this year, analysts said on Tuesday, after Leagold Mining Corp unveiled a $264 million bid for fellow Canadian gold miner Brio Gold Inc . Six years after the last mining boom ended with billions of dollars in writedowns following over-priced mega-acquisitions, miners remain...Read More
By Jonathan StempelNEW YORK, Jan 23 (Reuters) - The top U.S. securities regulator on Tuesday rejected arguments by Rio Tinto Plc and two former top executives that its civil lawsuit claiming they concealed the plunging value of coal assets owned by the big Anglo-Australian mining company should be dismissed.In letters filed with the U.S. District Court in Manhattan, the Securities and Exchange Co...Read More
In September of 2017 gold prices topped out at $1363 per ounce. This marked the conclusion of a dynamic rally, which began in July 2017 when gold was trading just above $1200. This $163 rally contained the largest single price move of any rally last year.What would follow would be a sustained and multi-month correction in which gold prices toppled first to $1262 in October of last year and then, a...Read More
RIO DE JANEIRO, Jan 23 (Reuters) - Anglo American PLC said on Tuesday it expects to receive long-awaited licenses on Friday which will pave the way for the mining company to boost its Brazilian iron ore production capacity by about 56 percent.Anglo American plans to invest 1 billion reais ($308.94 million) to expand its iron ore extraction capacity at Minas-Rio mine in Minas Gerais state to 26.5...Read More
(Kitco News) - It is not just about the economic and political headlines, according to the best-selling author, Jim Rickards, who said that the current gold bull market is being driven by fundamentals.“We are in the third year of a bull market with a very long way to run,” Jim Rickards told Kitco News on the sidelines of the Vancouver Resource Investment Conference. “The fundamen...Read More
(Kitco News) - Gold prices ended the U.S. day session moderately higher Tuesday, as some mid-morning selling pressure was quickly pounced on by bulls looking to buy the brief dip in prices.There has been no fresh, major fundamental news to drive the safe-haven metal higher early this week. However, the gold charts continue to look bullish, which is inviting technically related buyers. February Com...Read More
(Kitco News) - While the gold market appears to have entered a consolidation period, one analyst says that this is just the beginning of the rally this year.In a telephone interview with Kitco News, George Milling-Stanley, head of gold investments at State Street Global Advisors, said because of the strong sentiment in the gold market, he thinks it is only a matter of time before gold breaks above...Read More
(Kitco News) - The London Bullion Market Association is seeking proposals on how to develop a “blockchain” for gold to underpin integrity of the supply of the metal, the organization announced Tuesday.According to news reports, this would track metal to its origins, thereby helping prevent use of gold for financing terrorism, money laundering and helping resolve the problem of “c...Read More