The swing back into contango in the nearby aluminium forward curve on the London Metal Exchange moving triggered the cancelation of more than 90,000 tonnes of aluminium in LME-bonded warehouses this week.Almost 45,000 tonnes of material were freshly canceled on Friday May 17, predominantly out of registered warehouses in Johor and Singapore. More than 30,000 tonnes were canceled across the same lo...Read More
Representatives of Chilean state-owned copper producer Codelco will make their final wage and bonus offer to three workers' trade unions for the Chuquicamata mine division by May 24, the unions said on Friday May 17.The unions will have up to five days to schedule a vote on the proposal, the unions added.Workers are demanding active participation in the company's transformation plans; better healt...Read More
Copper concentrates treatment and refining charges (TC/RCs) continued to edge down in the second week of May due to traders snapping up tender tonnages at low numbers, while smelters became hesitant in spot purchases. Fastmarkets' Asia-Pacific TC/RC index dipped to $59.10 per tonne/5.91 cents per lb on Friday May 17, compared with $59.60 per tonne/5.96 cents per lb a week ago. The benchmark c...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
That's the only way to describe this stock market. It won't end well for the hedge funds whose algos are chasing price momentum nor for the retail daytraders playing the game of "greater fool." Apparently CSCO and WMT's "beat" triggered a multi-hundred point spike in the Dow on Thursday. Funny thing about that. CSCO's one-cent "beat" has been routine since the late 1990's.Walmart also "beat." But...Read More
Copper concentrates treatment and refining charges (TC/RCs) continued to edge down in the second week of May due to traders snapping up tender tonnages at low numbers, while smelters became hesitant in spot purchases. Fastmarkets' Asia-Pacific TC/RC index dipped to $59.10 per tonne/5.91 cents per lb on Friday May 17, compared with $59.60 per tonne/5.96 cents per lb a week ago. The benchmark c...Read More
Adam HamiltonArchivesMay 17, 2019 The major gold miners' stocks are drifting sideways with gold, their early-year momentum sapped by the recent stock-market euphoria. But they are more important than ever for prudently diversifying portfolios, a rare sector that surges when stock markets weaken. Their just-reported Q1'19 results reveal how gold miners are faring as a sector, and their current fund...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
BlueRock will be using the funds to implement a new mining plan at its Kareevlei mine in South Africa's Kimberley region to increase production and, it hoeps, become cash flow positive.The placing of 937 million ordinary shares at 0.1p per share raised £937,000 before expenses. It included included the issue of one warrant for every one placing share at an exercise price of 0.2p, valid for t...Read More
The price of bauxite imported into China will continue rising gradually over the next 5-10 years on stronger domestic demand, chief executive officer of Metro Mining Simon Finnis told Fastmarkets at the Alumina & Bauxite Conference held in Zhengzhou on May 16-17.China's increased aluminium production capacity and limited bauxite output following stricter bauxite mining requirements has led the cou...Read More
(Updates with closing prices)By Peter HobsonLONDON, May 17 (Reuters) - Copper prices fell for a fifthconsecutive week as the trade confrontation between the UnitedStates and China intensified.Investors fear the dispute will damage economic growth andweaken the outlook for metals demand, with industrial metalsprices down sharply from last summer when it began.Benchmark copper on the London Metal Ex...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Rumors that around 1,000 tonnes of bismuth held in Fanya warehouses may be auctioned dampened buying interest in China, causing the domestic Chinese bismuth price to plunge by 4% week on week on Friday May 17. Fastmarkets assessed the Chinese domestic bismuth price at 41,000-44,000 yuan ($5,959-6,395) per tonne on Friday, down from 43,000-45,500 yuan per tonne a week earlier. The latest price...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 226,361101,82578,759159,444296,627464,564477,211 Change from Prior Reporting Period 40,560-8,5655,69917,36658,19063,62555,324 Traders 18565775157267175 Small Speculators LongShortOpen Interest 53,43140,784517,995 4,33112,63267,956 non reportable positions...Read More
Bitcoin is on the move again, a venomous snake in the grass. You might expect to find a reasonable explanation for cryptocurrency's sudden, spectacular rise from the dead. Instead, you get only dim-witted speculation that institutional players are starting to warm to it again. Fidelity, for one, reportedly will be buying and selling bitcoin for institutional customers starting in a few weeks. Wh...Read More
By: Ira EpsteinGold can't get over the 18-week moving average. Concerning..Read More
There is some serious manipulation in gold. Some bank or a cartel of banks have been selling gold futures on every rise from $1330 and also gold huge amounts around $1300. One of the possible reason is to protect options investment. May and November options expiry of every year attract huge investment every year. If this is the case, then gold prices should rise after ten days. Right now the m...Read More
The global ferrous scrap markets continued to move downward during the week ended Friday May 17, except in Turkey, but a recovery was expected for most markets following the cut to the US import tariff on Turkey-origin steel. Prices begin recovery after US reduces Turkey tariff US export prices down on earlier Turkish sales Taiwan prices down on lower bids; Vietnam prices stable Indian market cont...Read More
European and UK austenitic and chrome steel alloy scrap prices decreased over the past week because of declining demand and lower ferrous scrap costs, sources told Fastmarkets on Friday May 17.Fastmarkets' assessment of the price for 18/8 stainless steel scrap solids in the UK domestic market was ?800-900 ($1,025-1,154) per tonne delivered on Friday, down by ?50 per tonne week on week.The corres...Read More
The UK's light iron market has dropped over the week ending May 17, losing another ?5 ($6.41) per tonne following a ?10 loss due to weaker European export markets into Turkey since late April, sources told Fastmarkets.The move follows a ?15-per-tonne drop in monthly delivery settlements for May that were settled between British suppliers and steelmakers this week.Fastmarkets' weekly price asses...Read More