The black tungsten concentrate price in China continued to fall in the week to Friday November 16 amid weak demand, while the ammonium paratungstate (APT) market remained slow with participants awaiting further direction. Concentrates price continues downward trend APT market remains slow Ferro-tungsten prices in Europe edge up week on week on good spot demand In Europe, Fastmarkets a...Read More
* Palladium off all-time high of $1,185.40/oz * SPDR Gold Trust holdings fell on Friday * Hedge funds hike net short positions * GRAPHIC-2018 asset returns: ( ) (Updates prices and adds comment)By Sumita LayekBENGALURU, Nov 19 (Reuters) - Gold consolidated in a tight$6 range on Monday while investors watched for catalysts in aholiday week, holding above $1,220 as the dollar softened onuncertainty...Read More
The Monday Market Minute Global stocks mixed, despite conflicting statements on the fate of U.S-China trade, as dovish comments from Fed Vice Chair Clarida cast bullish tone heading into holiday-shortened week.APEC meeting fails to agree communique as Pence jabs China on unfair trade policies, Beijing says world faces choice between "cooperation and confrontation" at testy meeting in Port Moresb...Read More
CloseGain/LossGold $1223.20+$1.30Silver$14.42+$0.01XAU65.70-0.57%HUI148.27-0.19%GDM539.96+0.11%JSE Gold1141.62+20.05USD96.21-0.23Euro114.50+0.33Yen88.76+0.11Oil$56.76+$0.3010-Year3.053%-0.018T-Bond139.8125+0.25Dow25017.44-1.56%Nasdaq7028.48-3.03%S&P2690.73-1.66% The Metals: Gold fell $3.80 to $1218.10 in Asia, but it then rallied back higher in London and New York and ended near its early...Read More
Gilts are on a tear as investors escape U.K. stocks and the pound. But a no-deal Brexit or a Corbyn government would soon change their status.By Mark Gilbert and Marcus Ashworth (via Bloomberg.com)British investors have been fleeing their domestic stock market in droves all year, and everyone and their dog lined up to sell sterling on Thursday as the tally of resignations from Theresa May's...Read More
Thanksgiving week has been marked by abrupt moves and long-term trend changing moves in metals and energies. This has happened most of the time (not all of the time) over the past fifteen years. I will prefer to be cautious in metals, natural gas and the US dollar Index this week. Technicals are fine but one should see signs of a trend changing technically. Global stocks could sink once again...Read More
PORT MORESBY (Reuters) - The C in APEC stands for Cooperation. But when the two biggest members are fighting a trade war and using the forum to attack each other’s policies, it was always going to be hard work delivering on that.The weekend’s Asia-Pacific Economic Cooperation summit in Port Moresby was one of open disagreement, led by disputes between the United States and China over t...Read More
The Chinese ferro-silicon market was stable in the week ended Friday November 16, extending a steady trend in line with supply and demand, while the European price moved downward because the quiet market encouraged lower offer prices. China prices supported on stable fundamentals European prices fall amid quiet market US spot market inactive, focus remains on long-term contract negotiations.China...Read More
Key data from the pricing sessions in Shanghai, New York and London in the week ending on Friday November 16.China The export price for grade-553 silicon in China continued to drop due to thin spot inquiries amid weak demand. Rising cargoes at major ports in China added to the additional downward pressure on the price. Market participants have suggested that demand will resume in...Read More
LONDON (Reuters) - World shares struggled higher on Monday amid conflicting signals of a potential truce in the China-U.S. trade dispute, while the Federal Reserve’s new-found concerns over the global economy sapped the dollar.Asia had taken a while to warm up but finished strongly and Europe was heading for its first rise in four sessions as mining, tech and bank share gains helped offset a...Read More
(Adds detail, background)JOHANNESBURG, Nov 19 (Reuters) - Sibanye-Stillwater said on Monday that the Association of Mineworkers andConstruction Union (AMCU) planned to strike on Wednesday at itsSouth African gold operations after wage agreement talks brokedown. Sibanye-Stillwater, which had signed a three-year wageagreement with three other labour unions, said AMCU represents43 percent of its work...Read More
Gold pour at the Aurora Mine in Guyana, South America. Source: Guyana Goldfields Inc.Guyana Goldfields Inc. [GUY-TSX; OTC-GUYFF] has been asked to cease all activity related to underground development at its Aurora Mine in Guyana, South America.A Guyanese newspaper reported over the weekend that the request came from the country's Environmental Protection Agency (EPA), according to a report by Sco...Read More
Turkish steel producers continued to hold back from the deep-sea scrap market on Monday November 19, because they expect more supplies from China to hit the market in the next few weeks.This is especially so for Chinese rebar, which is widely expected by market participants to be offered in increasing amounts in the near term while its domestic market softens."The price in China is falling....Read More
(Reuters) - Iran will continue to export oil despite U.S. sanctions, which are part of a psychological war doomed to failure, Iranian President Hassan Rouhani said on Monday.By reimposing sanctions on OPEC’s third biggest crude producer, Washington wants to force Tehran to drop its ballistic missile programs, further curb its nuclear work and limit its support for proxy militias from Syria t...Read More
LONDON (Reuters) - Bitcoin slumped to a new 13-month low on Monday, with the biggest cryptocurrency touching $5173.23 on the Bitstamp platform BTC=BTSP.Bitcoin was last down 5.2 percent at $5270. The cryptocurrency, and other lesser coins including ethereum and XRP, endured a sell-off last week, with some blaming fears that a “hard fork” in bitcoin cash, where the smaller coin that sp...Read More
* European stocks struggle with car woes, Wall Streetfutures dip* Nikkei and China shares firm* Mixed signals on prospect of Sino-US trade thaw* Dollar subdued as Fed talks about global risks* Sterling waits for more Brexit developments * Oil prices recoup some losses on chance of output cut * Graphic: The rolling bear market* Graphic: World FX rates in 2018By Marc JonesLONDON, Nov 19 (Reuters) -...Read More
Turkish domestic scrap prices have softened over the past week with some mills reducing their buy prices because of high stock levels, sources said on Monday November 19.Fastmarkets' weekly price assessment for domestic auto bundle (DKP grade) ferrous scrap was TRY1,650-1,940 ($309-363) per tonne delivered on Monday, widening downward from last week's TRY1,800-1,940 per tonne.This change in the as...Read More
Rob McLeod, President and CEO of IDM Mining, shows off the 10 g/t gold mineralization underground at the Red Mountain Mine.Aben Resources Ltd. [ABN-TSXV; ABNAF-OTC; E2L-FSE] reported drill results from the Forrest Kerr Project. Results continue to reveal near-surface high-grade gold mineralization at the Boundary Zone and demonstrate potential for new discoveries.For step-out drilling at the North...Read More
Unwavering demand for refined copper, following China's ban of category 7 copper scrap imports, and tighter refined copper cathodes supply from overseas may lead to higher spot copper premiums cif Shanghai in the first half of 2019, Awin Resources' deputy general manager Danny Ju told Fastmarkets in a recent interview. The effect of several smelter disruptions in 2018 will be sustained into first...Read More
By Polina Devitt and Christian LoweMOSCOW, Nov 19 (Reuters) - Russian nickel and palladiumproducer Norilsk Nickel (Nornickel) plans to ramp upoutput over the next five years to tap an expected boom indemand from electric vehicle makers, its CEO and top shareholderVladimir Potanin told Reuters.The company, which vies with Brazil's Vale to bethe world's largest nickel producer, has been profitable f...Read More