Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
The dollar rate by itself does not determine the gold price.However, the dynamics of the dollar is generally inversely related to the dynamics of gold price.Fundamentally, the current price of gold is quite justified now.Only if the US real rate enters the zone of negative values, there will be a further rise in the price of gold. By and large, the price of gold is influenced by three main factors...Read More
BHP has reported a 9.6% year-on-year drop in metallurgical coal output in the three months to September, a period during which fob Australia prices for premium hard coking coal fell amid Chinese import restrictions and weak demand outside of China.The miner produced 9.35 million tonnes of met coal during the period, which also marked a 21% quarter-on-quarter drop, it said on Thursday October 17. B...Read More
A weakening dollar index has strengthened gold's currency component.Expect gold to respond favorable to the softer dollar in the weeks ahead.A more accommodative Fed policy will also boost gold's attractiveness.Precious metals traders had almost despaired of ever seeing a currency-driven rally in the gold price this year. Yet, for the first time since June, gold finally has the support of...Read More
Members of the incoming European Commission, expected to take office in November, have released more details of a planned "carbon border tax", which could levy charges on metal imports into the European Union. Products affected would be those deemed by the EU as manufactured with excessive carbon emissions. While details of what will be covered, and under what circumstances, will be included in a...Read More
US President Donald Trump said on Monday October 14 that he will impose a 50% tariff on imports of steel from Turkey in response to that country's military actions in northeastern Syria.However, market participants believe such a move will have a minor impact on the Turkish steel sector, because Turkey's steel exports to the United States are already limited because of weak demand.BilletA trader f...Read More
Global scrap prices in all the major markets recovered during the working week ended Friday October 18, boosted by lower material availability and rising Turkish import prices. Turkish import prices up as mills resume November buying US export prices up on bulk sales to Turkey Taiwan import prices up on reduced supply, Vietnam import prices stable Indian import prices up in line with Turkish marke...Read More
An overview of the noble alloys markets and their latest price moves. Read More
Import prices for hot-rolled coil and cold-rolled coil (HRC, CRC) into South America have fallen in the week ended Friday October 18, with producers from many regions competing for clients.Offers from the Commonwealth of Independent States (CIS), Brazil, Japan and China reached South American buyers at lower levels than last week.Fastmarkets assessed the price for steel HRC, import, cfr main ports...Read More
Pig iron import prices in the United States rebounded during the week ended Friday October 18, but more as a result of lower material availability than better demand.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $300-310 per tonne on October 18, up from $290-300 per tonne a week before."Demand in the US is recovering and we see that some market participants who ar...Read More
In contrast to gold, there is HUGE ACTIVITY in silver. Harvey explains...by Harvey Organ of Harvey Organ BlogOCT 17/GOLD UP $4.00 TO $1494.50//SILVERUP 17 CENTS TO $17.59//ANOTHER HUGE QUEUE JUMP AT THE GOLD AS BANKERS ARE DESPERATE TO FIND PHYSICAL GOLD//SUPPOSEDLY WE HAVE A BREXIT DEAL..LET US SEE HOW THIS PLAYS OUT//ANOTHER HUGE POMO AS LIQUIDITY DRIES UP//COLLATERAL RATE REMAINS ELEVATED AT 2....Read More
Electric vehicles (EVs) are forecast to reach cost and functional parity with internal combustion engine (ICE) vehicles by 2025. Theoretically, this should create the global tipping point for mass market EV adoption, along with the development of the associated charging infrastructure required to accompany the growth.In practice, it is not quite as straightforward.A recent report by investment res...Read More
Market participants in both China and Europe have been taking a wait-and-see approach to procurement in the run-up to the auctions of four cargoes of minor metals formerly held by the Fanya Metal Exchange. On October 11, Southwestern China's Kunming Intermediate People's Court announced germanium, gallium, tellurium and selenium stocks will be auctioned over a 24-hour period starting at 10am...Read More
The whereabouts of minor metal stocks held by the now defunct Fanya Metals Exchange has been a weight on the outlook of minor metals prices and contract negotiations since the exchange collapsed in 2015. The whereabouts of minor metal stocks held by the now defunct Fanya Metals Exchange has been a weight on the outlook of minor metals prices and contract negotiations since the exchange collapsed i...Read More
Market participants in both China and Europe have been taking a wait-and-see approach to procurement in the run-up to the auctions of four cargoes of minor metals formerly held by the Fanya Metal Exchange. On October 11, Southwestern China's Kunming Intermediate People's Court announced germanium, gallium, tellurium and selenium stocks will be auctioned over a 24-hour period starting at 10am...Read More
The alumina price on a fob Australia basis has stabilized just below $280 per tonne in the week ending Friday October 18, after a flurry of deals over the past week. Fastmarkets calculated the benchmark daily alumina index, fob Australia at $278.25 per tonne on Friday, down from $277.14 per tonne on Thursday. It has hovered between $277 and 278 per tonne over the past week. Key drivers: ...Read More
The inter-merchant spot market for UK-origin light iron scrap was steady in the week ended Friday October 18, extending a run of stability into a third week amid a recovery in European steel scrap export prices.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?60-80 ($77-102) per tonne on Friday. The market is around where it was when...Read More
Turkish steel producers have continued their deep-sea scrap bookings for November shipments at steady prices, sources said on Friday October 18.Steel mills in the country had resumed their deep-sea purchases on Thursday October 17 with slightly higher prices amid tight supply.A steel mill in the Marmara region booked a UK cargo, comprising 18,000 tonnes of HMS 1&2 (80:20) at $240 per tonne cfr.Ano...Read More
An increase in copper concentrate treatment and refining charges (TC/RCs) so far this month reflects a drop in the number of spot deals ahead of annual contract negotiations that are set to start during the annual London Metal Exchange Week gathering. With major smelters well stocked, bids are close to the new quarterly price floor set by the China Smelters Purchase Team (CSPT). Traders, meanwhile...Read More
Stakeholders have been trying to alter the perception of South Africa’s mining sector from that of a “sunset industry” to a “sunrise industry”, but such a transition inherently depends on the country’s mineral potential, states the South African Institute of Mining and Metallurgy (SAIMM). “This applies not only to our traditional base of precious metals, d...Read More
Three-month prices of base metals traded on the London Metal Exchange, with the exception of tin and lead, were buoyed by a weaker US dollar to close up at the afternoon kerb on Friday October 18.The LME three-month copper price finally began to make gains, closing up 1.1% at $5,806 tonnes from yesterday's $5,739 per tonne close. Much has been made of copper futures' lack of reaction to tightening...Read More