The market for Turkish lumpy chrome ore showed signs of strong recovery late last week and, although the market appears to have stalled since then, the uptrend looks set to resume.Upward momentum started to return to the market after several weeks in which there was little reported trade.Fastmarkets MB's price assessment of Turkish lumpy chrome ore, cfr China, gained $8 to reach $230-240 per...Read More
Published 22 Hours AgoUpdated4 Hours AgoReuters Gold fell on Wednesday, pressured as a rising dollar spurred investors to take profits after tumbling stocks ushered the metal to a more than three-month peak in the previous session.Spot gold was up 0.17 percent at $1,232.11 an ounce . U.S. gold futures settled at $1,231.10 per ounce, down $5.70. On Tuesday, the precious metal touched its highest si...Read More
Christopher Lewis20 hours agoSilver markets broke higher during the trading session on Tuesday, breaking above the 50 EMA. At this point, it looks as if the market is probably going to try to reach the $15 level which I see as a massive barrier. Gold markets have already turned higher and above the 50 EMA, and it looks as if silver is trying to do the same thing. However, I recognize that the $15...Read More
The latest news and price moves to start the Asian day on Thursday October 25.Base metal prices on the London Metal Exchange were collectively lower at the close of trading on Wednesday October 24, pressured by continued strength in the United States' dollar index while the three-month aluminium price broke below $2,000 per tonne for the first time since April. Read more in our live futu...Read More
The latest metal markets news and price moves to start the North American day on Wednesday October 24.Base metals prices on the London Metal Exchange were predominantly higher during morning trading, buoyed by a bounce in Asian stock indices while a two-month high in the US dollar index did little to offset fresh buying momentum.Despite high risk-aversion prompting a downtrend in base metals price...Read More
Gold catches a bid as US stocks and bond prices climb but gave up the highs and dropped to the 50% retracement of yesterday's hourly chart rally from down at $1,220 to the high of $1,239 and now consolidates at $1,230, in line with the 18th Oct double highs. Gold is currently trading at 1230 from a high of 1239 and up from a low of 1299. Gold has been forced out of the symmetrical...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday October 24.Base metals prices on the Shanghai Futures Exchange were all up during Asian morning trading on Wednesday, with the complex benefitting from a softening in the dollar overnight and positive sentiment stemming from a stronger showing in China's equities market.Check Fastmar...Read More
China's latest stock market rally underscores a key factor for gold.Specifically, gold needs safety demand from global market weakness.Watch for gold's immediate-term trading range to continue for now. After a stellar performance two weeks ago, the gold price has stalled out after hitting a widely-watched technical benchmark. The reasons for gold's recent lack of forward movement can be tr...Read More
Brother John F shares why the door won't be big enough to get out of paper assets and why the door will be too small to get into real assets...Brother John F interviewed on Reluctant PreppersPhysical silver coin and crypto enthusiast Brother John F returns to Reluctant Preppers to weigh in on the direction of the stock and bond markets, the coming recession, the outlook for silver (and what specif...Read More
Peter KrauthIt's been a lackluster few weeks for silver prices.Over the last month, the precious metal has traded between $14.20 and $14.80, with an average price of $14.65.However, it looks like there's a significant breakout on the way, which could mean tremendous profits for savvy silver investors.You see, market instability, rising bond yields, and a volatile dollar are putting pressure on the...Read More
European tin premiums have surged this week on concerns about continued supply from Indonesia, while premiums in the United States and China have remained firm on reduced demand and ample supply. Rotterdam 99.9% in-warehouse premium at 5-month high US tin demand expected to slow Closed import window keeps China premiums flat.European premium bolstered by production woesIn Europe, the premium for 9...Read More
Base metals prices on the London Metal Exchange were collectively lower at the close of trading on Wednesday October 24, pressured by continued strength in the US dollar index while the three-month aluminium price broke below $2,000 per tonne for the first time since April.Reaching an intraday low of $1,996 per tonne, the aluminium market continues to be affected by uncertainty over United States...Read More
Limited availability pushed iron ore prices up on Wednesday October 24 amid a bullish futures market.MB 62% Fe Iron Ore Index: $74.73 per tonne cfr Qingdao, up by $0.42 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.76 per tonne cfr Qingdao, up by $0.42 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $80 per tonne cfr Qingdao, up by $1.30 per tonne.MB 58% Fe Premium Index: $67.77 per tonne cfr...Read More
England's historic South Crofty tin mine could soon be back in production.Vancouver-based Strongbow Exploration (TSX-V : SBW) owns South Crofty, the iconic former-producing copper and tin mine in Cornwall. The company plans to bring the mine back into production following a proposed dual listing on London's AIM market.London-based law firm Fieldfisher has advised Strongbow on successfully closing...Read More
The copper price was holding steady at $2.75 a pound ($6,060 a tonne) on Wednesday, trading 7% above its summer lows.That did not stop investors punishing the sector, however, with top listed copper miner Freeport McMoran dropping nearly 8% to a new 52-week low. Major producers Southern Copper Copper, First Quantum and KGHM also fell to the lowest in a year.Copper is down 16.7% so far this year...Read More
Freeport-McMoRan Inc. isn't looking to sell itself right now, says Chief Executive Officer Richard Adkerson."I certainly don't consider it to be something that we would look at in the near term given our share price," Adkerson told analysts Wednesday on Freeport's third-quarter earnings conference call. "We're going to be open to opportunities for our shareholders as they evolve in the future."Ear...Read More
Newcrest Mining Ltd, Australia's largest independent gold miner, said on Wednesday that gold production rose 5 percent in the first quarter from the year-ago period, led by a sharp increase at its flagship Cadia mine.Production rose to 548,351 ounces for the quarter ended Sept. 30 from 522,917 ounces a year ago. This was less than the UBS forecast of 619,000 ounces, and below the 634,950 ounces in...Read More
Chilean miner Antofagasta Plc. (LON:ANTO) said Wednesday that copper output for the first nine months of the year fell 4 percent, but it forecast an increase in production in 2019 as grades begin to improve at its operations.The company, majority-owned by Chile's Luksic family, one of the country's wealthiest, said year-to-date copper production declined to 505,500 tonnes, from 526,500 tonnes in...Read More
* U.S. crude stocks up, gasoline, diesel inventories down -EIA* Saudi assurance on oil supplies, economic worries weigh* Two China state refiners to skip Iran oil bookings for Nov* Brent ends lower, U.S. futures up modestly (Adds additional details, quotes, updates prices to settlement, adds volume)By David GaffenNEW YORK, Oct 24 (Reuters) - Oil prices rose modestly on Wednesday, rebounding after...Read More
MUMBAI, Oct 24 (Reuters) - The Indian rupee strengthened to a three-week high on Wednesday morning, aided by a sharp fall in global crude oil prices overnight, while expected gains in local shares also helped sentiment. O/RThe partially convertible rupee INR=D2 was trading at 73.22/23 per dollar at 0340 GMT, compared with its previous close of 73.5750 and after earlier touching 73.10 in opening de...Read More