The Comex copper price tumbled in the morning on Thursday October 18 after the US Federal Reserve indicated another interest rate rise is imminent. The copper price for December settlement on the Comex division of the New York Mercantile Exchange dipped 4.10 cents to $2.7370 per lb. The broad-based weakness in the base metals follows a rebound in the dollar after the minutes from the US Federal Op...Read More
BHP's zinc concentrates production rose 5% year on year in the three months ended September 30, 2018, according to the company's quarterly production report released on Wednesday October 17. The company produced 30,558 tonnes in the July-September period, up 5% from 29,201 tonnes in the same period of 2017, although production dropped by 15% on a quarterly basis. The miner produced 35,983 tonnes o...Read More
Aim-listed Vast Resources, together with Botswana Diamonds (BOD), have received an independent competent person’s preliminary geological assessment relating to the Heritage concession within the Marange diamond fields of Zimbabwe, in which specific exploration recommendations were made.As announced on October 4, BOD has entered an agreement with Vast under which BOD will be engaged in d...Read More
Key data from the Wednesday October 17 pricing session in Asia. Key drivers: Cheaper offers from new supply regions including the Middle East, Russia, Spain and Italy put pressure on Chinese exporters to lower their prices.This new supply was diverted to Japan from Europe and...Read More
Australian-Chinese miner MMG has increased 2018 production guidance from Dugald River, with a ramp-up at the Australian zinc mine progressing faster than expected.Dugald River will produce 140,000-150,000 tonnes of zinc in concentrate this year, MMG said, above the 120,000-140,000 tonnes previously stated by the company."The Dugald River ramp up continues to track ahead of schedule, with mining an...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday October 18*Copper -$95.64 (-665.08 yuan) Aluminium -$452.61 (-3,147.39 yuan) Zinc -$82.92 (-576.6 yuan) Nickel $317.67 (2,208.99 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
The latest metal markets news and price moves to start the North American day on Thursday October 18.Zinc continued to outperform the other base metals during morning trading the London Metal Exchange following a large cancellation at LME-listed warehouses.The three-month zinc price peaked at $2,687 per tonne this morning, its highest since the start of October, after more than 31,000 tonnes of th...Read More
RAPAPORT... Stornoway Diamond Corporation's average price fell quarteron quarter in the three months ending September 30 due to weakness in theIndian market, it said last week. Prices of smaller and lower-quality stones have decreased sinceJuly due to challenging conditions in India, while larger and high-qualitycategories have remained strong, the company said. The miner's average price of$103 pe...Read More
Polish secondary aluminium producer Alumetal SA raised capacity at its plant in Gorzyce, Poland, earlier this month, it said, amid falling prices - diecasting alloy is down by than ?,?200 in Europe since the start of 2018.Capacity at the producer's Gorzyce plant has increased to more than 20,000 tonnes per year from 8,000 tpy, it said. The expansion will also allow the company's plant to produce a...Read More
Prices for US domestic rebar remained flat despite a modest gain in Chicago shredded scrap prices, while imported prices remain static due to a lack of confirmed market activity. Fastmarkets AMM's assessment for domestic rebar held at $35-36 per hundredweight ($700-720 per short ton) fob Midwest mill on Wednesday October 17, while imported rebar remained at $676-700 per ton cfr Port of Houston. No...Read More
Import prices for flat-rolled steel in the United States are mostly in line with levels recorded two weeks ago, although market participants have said that import volumes could recover if recent domestic price increases take full effect.Fastmarkets AMM's assessment for imported hot-rolled coil (HRC) narrowed upward to $740-780 per short ton cfr port of Houston on Thursday October 17 from $720-780...Read More
Buyers have been bidding up gold to higher values over the last two days, although you would never would that by looking at the net change in prices. Renewed and elevated concern over the trade dispute that is now being labeled as a trade war between the United States and China has continued to be highly supportive of the U.S. dollar. Geopolitical concerns about Saudi Arabia, concerning the disapp...Read More
China's domestic hot-rolled coil prices decreased on Thursday October 18 following a sharp drop in the futures market. DomesticEastern China (Shanghai): 4,210-4,230 yuan ($608-611) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 4,110-4,120 yuan per tonne, down 10 yuan per tonneThe significant drop in the futures market dampened demand for HRC and pushed down spot prices for the product...Read More
China's domestic rebar prices held steady on Thursday October 18 despite a big drop in the futures market.Domestic Eastern China (Shanghai): 4,550-4,590 yuan ($657-663) per tonne, unchangedNorthern China (Beijing): 4,340-4,380 yuan per tonne, unchangedRebar futures took a big tumble during the day, which dampened buying interest in the spot market.A week-on-week drop in inventory levels kept price...Read More
(Kitco News) - Gold prices are trading modestly higher in early-afternoon U.S. trading Thursday. Today, a host of worries on the geopolitical front rose to the surface to put strong pressure on the U.S. stock market and produce some safe-haven demand for gold, which began to surface in late-morning action. December gold futures were last up $3.00 an ounce at $1,230.50. December Comex silver was la...Read More
(Kitco News) - Investors in China need to allocate up to 6% of their portfolios to gold, according to the World Gold Council (WGC), which sees the yellow metal as minimizing the negative effects of volatility.Chinese traders have had a tough year, with losses in both the equity and bond market spaces, said WGC Investment director Fred Yang.“China’s leading index, the CSI 300, has under...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBillet China,...Read More
AMG Vanadium LLC has decided to proceed with expansion plans that will more than double its spent catalyst processing capacity and significantly increase vanadium production capacity at its North American operations by 2021.The decision to expand vanadium production comes amid soaring prices for the material, with pricing for both ferro-vanadium and vanadium pentoxide more than quad...Read More
Gold’s recent move back above $1,220 an ounce may signal a turning point for the precious metal, as investor buying has picked up, says Standard Chartered. Prices must still break up through a number of technical-chart levels to reach the psychologically important 1,300-per-ounce level, Standard says. “We continue to believe price risks are skewed to the upside, particularly as $1,220/...Read More
Australian lithium miner Galaxy Resources reported a drop in mining volumes and lithium spodumene production quarter on quarter in the three months to September 2018. Lithium spodumene production fell by 35% to 31,156 tonnes produced in the third quarter compared with 47,901 tonnes in the second quarter. Mining volumes fell by 8% to 779,495 tonnes from 843,830 tonnes in the same period at its Mt C...Read More