The latest news and price moves to start the Asian day on Thursday October 18.Base metals prices on the London Metal Exchange were mostly trading lower at the close on Wednesday October 17, with sentiment in the market weakening although zinc continued to outperform. Read more in our live futures report.Here are how prices looked at the close of trading:Concerns are mounting over the potential hal...Read More
Turkey's Tosyali Holding is to invest in the construction of a rebar and wire rod mill in Senegal, in western Africa.Tosyali signed a Memorandum of Understanding (MoU) with Senegal's ministry of mines and geology during the second Turkey-Africa Economic & Business Forum in Istanbul on Wednesday October 10.Once a location is decided, Tosyali will lay the foundations for the plant by the end of 2018...Read More
The number of new passenger car registrations in the EU dropped massively in September 2018, going down by 23.53% year-on-year.New car sales in Europe totaled 1,091,220 units in September, compared with 1,427,013 vehicles sold in the corresponding month of 2017, the European Automotive Manufacturers Assn (ACEA) said on Wednesday October 17."This [drop in sales] should not come as a surprise, becau...Read More
Possibly one of the most important sources of economic information to be released this week is the minutes from the September FMOC meeting held by the Federal Reserve, which has been released today. The minutes confirmed the information conveyed in their press statement which was released immediately upon the conclusion of the meeting as well as news from a press conference with questions and answ...Read More
European prices for mesh-quality wire rod were flat across the Northern and Southern parts of the continent on Wednesday October 17, with buyers still unwilling to commit to large-volume deals.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe were ?,?535-560 ($620-648) per tonne delivered on Wednesday. Both assessments were unchanged week...Read More
(Kitco News) - Even though the U.S. midterm elections are difficult to predict, TD Securities said the most likely scenario is a divided Congress. But what does that mean for financial and precious metals markets?“Political risk is notoriously difficult for markets to predict. This is in part due to the increasing unreliability of polls to determine election outcomes, as was the case in the...Read More
The price for rebar produced and delivered in Southern Europe slipped downward on Wednesday October 17, with buyers uncertain and few deliveries of any substantial size being sought.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe fell to ?,?520-545 (602-631) per tonne per tonne delivered on Wednesday, from ?,?530-545 per tonne a week ago.While uncertainty is keeping many...Read More
Prices for domestic hollow steel sections in Europe narrowed upward this week, while announced price increases from mills were viewed with skepticism, market sources told Fastmarkets on Wednesday October 17. Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe rose on the low end of the range to ?,?660-670 ($764-776) per tonne de...Read More
(Kitco News) - Gold prices continued to trade slightly lower on the day after the release of the FOMC meeting minutes from September, which pointed to more rate hikes. The meeting minutes revealed that the third rate hike of the year was unanimous and that there was a general agreement that further rate hikes will be needed in the future. Gold prices slightly edged down following the news but kept...Read More
(Kitco News) - Although there are expectations that investment capital will flow back into the mining sector, companies have to do more to show value, according to some finance executives.At a panel discussion during the Mine and Money conference in Toronto, Caroline Donally, managing director of private equity firm Denham Capital, said that in the past, companies have done poor job at creating va...Read More
(Kitco News) - Gold prices are moderately lower in early-afternoon U.S. trading Wednesday, on a normal corrective pullback from recent solid gains that saw prices hit a 10-week high earlier this week. A big rebound in the U.S. stock market on Tuesday is also denting any safe-haven demand for gold and silver markets today. A rally in the U.S. dollar index today also worked against the precious meta...Read More
Prices for rebar produced and delivered in Northern Europe remained stable over the week ended Wednesday October 17, with buyers unwilling to commit to purchases beyond the very short term at a time of high uncertainty.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe stayed at ?,?550-570 ($637-660) per tonne on October 17, with almost no new deals reported.There were reas...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term. Create your own user feedback survey Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our...Read More
The following Fastmarkets noble alloys and ores prices changed on Wednesday October 17:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $11.90-12.00 per lb from $12.00-12.15 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg...Read More
(Kitco News) - Miners have to just wait out the cannabis frenzy until the bubble pops for investor capital to flow back into the metals space, this according to mining executives and fund managers.Marijuana stocks are approaching pre-2001 Nasdaq levels of overvaluation, and it's not a matter of "if," as much as it is a matter of "when" the cannabis space collapses on the same s...Read More
(Kitco News) - Gold may have a hard time making much forward traction in the months ahead but at some point should gain upward momentum in 2019 as the U.S. dollar loses some of its strength, said Metals Focus Wednesday. The consultancy provided a summary from its report titled “Precious Metals Investment Focus 2018/2019,” which covers gold, silver, platinum and palladium. The report is...Read More
The following Fastmarkets minor metals prices changed on Wednesday October 17:Antimony MB free market regulus, $/tonne: $8,150-8,500 per tonne from $8,400-8,600Antimony MMTA standard grade II, $/tonne: $8,150-8,450 per tonne from $8,400-8,600Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 51,000-51,500 yuan per...Read More
Key data from the Wednesday October 17 pricing session in Europe. Key drivers The European ferro-titanium price range dropped again, extending price losses from the previous week on persistently low demand, which is encouraging cheaper offer prices. Some dealers are away due to holidays in Europe, which has cooled trading activity. Reported trades...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday October 17.Base metals prices on the Shanghai Futures Exchange were broadly up during Asian morning trading on Wednesday after sentiment improved following strong gains in global equity markets.Check Metal Bulletin's live futures report here.Weakness was felt in aluminium premiums ar...Read More
The next Tech Talk is scheduled to be released on Monday, October 22nd, 2018. Please join us then.Sponsored By...More from the network: Stock Market Outlook for November 2, 2018Stock Market Outlook for November 1, 2018Stock Market Outlook for October 31, 2018Stock Market Outlook for October 30, 2018Stock Market Outlook for October 29, 2018Read More