Chinese cobalt sulfate trade log including business, bids and offers reported to Fastmarkets.Unless otherwise stated, all prices are yuan per tonne on an ex-works basis. In addition, cobalt sulfate, Co 20.5% min, China ex-works, adjustment to low-grade cobalt low-end price at Co 20.5% basis, $/Ib is showed in the bracket, at $ per lb basis. Fastmarkets MB prices Click here for Fastmarkets MB'...Read More
LONDON (Reuters) - When the U.S. Federal Reserve issued a statement of 250 words after raising interest rates last month, markets focused on just one: accommodative. And it wasn’t even mentioned.The omission of a word that had featured in Fed statements for years sent bond yields lower as investors interpreted it as a signal the Fed’s policy stance was no longer accommodative - so rate...Read More
Import prices for steel scrap in Turkey remained flat while rumors of bookings in the deep-sea market made by the country's steel producers were unconfirmed on Thursday October 25.Reports of two deep-sea cargo trades came to light but market participants were unable to confirm significant details.A steel mill in the Marmara region was reported to have booked a Baltic Sea cargo of...Read More
FRANKFURT (Reuters) - The European Central Bank kept policy unchanged as expected on Thursday, staying on course to claw back unprecedented stimulus even as the growth outlook continues to darken and political turmoil in Italy looms large over the currency bloc.Having exhausted much of its firepower with years of support, the ECB reaffirmed that its 2.6 trillion euro ($2.97 trillion) asset purchas...Read More
WASHINGTON (Reuters) - A body of U.S. state banking regulators on Thursday sued the federal government to void its decision to award national bank charters to online lenders and payment companies, saying it was unconstitutional and puts consumers and taxpayers at risk.The Conference of State Bank Supervisors (CSBS) said it had filed a complaint in the U.S. District Court for the District of Columb...Read More
Konkola Copper Mines (KCM), Vedanta's Zambian copper operation, could cut its copper output by up to 150,000 tonnes next year due to rising procurement costs following a proposed import duty on copper concentrates, Fastmarkets has learned. KCM is looking to halve its Zambian primary smelting capacity- which now stands at 311,000 tonnes per year, a company source said on Wednesday October 24. To ga...Read More
#4 Zone Manto: flat-lying sulphide mantos in carbonates. Source: Sun Metals Corp.Sun Metals Corp. [SUNM-TSXV] shares rallied Thursday after the company released impressive drill results from its Stardust project in northcentral British Columbia.The company announced that drilling into a new extension of the Canyon Creek Skarn zone at the Stardust project has returned the thickest and richest miner...Read More
(Kitco News) - Gold prices aremoderately higher in early U.S. trading Thursday, on more safe-haven buyingahead of an uncertain U.S. trading session following Wednesday’s pounding inthe U.S. stock market and steep losses in Asian shares overnight. December gold futures were last up $4.40 an ounce at $1,235.40. December Comex silver waslast up $0.089 at $14.76 an ounce. Globalstock markets wer...Read More
WASHINGTON/NEW YORK (Reuters) - Authorities discovered suspicious packages sent to former Vice President Joe Biden and actor Robert de Niro on Thursday, a day after several high-profile Democrats and critics of U.S. President Donald Trump were targeted with similar devices.None of the nine confirmed devices exploded but authorities stepped up their manhunt for the would-be serial bomber, with cruc...Read More
WASHINGTON (Reuters) - New orders for key U.S.-made capital goods fell for a second straight month in September and the goods trade deficit increased further amid rising imports, suggesting economic growth moderated in the third quarter.But the growth pace was probably solid, with other data on Thursday showing gains in both wholesale and retail inventories last month. The economy is being underpi...Read More
FRANKFURT, Oct 25 (Reuters) - European Central Bank President Mario Draghi said on Thursday that he was confident Italy and the European Commission would resolve their standoff over Rome’s budget plans for 2019.The European Commission rejected Italy’s draft 2019 budget this week, saying it brazenly broke EU rules on public spending, and asked Rome to submit a new one within three weeks...Read More
B2Gold's Fekola gold mine in Mali, West Africa. Source: B2Gold Corp.B2Gold Corp. [BTO-TSX, BTG-NYSE] on Thursday announced a better-than-expected resource estimate for its Fekola mine in Mali, West Africa. The Vancouver company also released positive results from a mill expansion study at the Fekola mine.The increased mineral resource and the positive results, to date, from the Fekola mill expan...Read More
Comex copper prices were little changed Thursday morning in the US with a stronger dollar capping any positive momentum. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 0.10 cents to $2.7585 lb. "While we forecast a stronger copper price by the end of the year, the fragile macro backdrop poses downside risks to our outlook," Fastmar...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average rebounded Thursday after plunging more than 600 points in the previous session and wiping out its gains for the year. The Nasdaq's fall on Wednesday pushed it into correction territory.Tesla Inc. (TSLA) jumped 7.6% on Thursday after surprising Wall Street with a profit in its third quarter.Micros...Read More
Grupo Mexico, the largest Mexican miner, expects a surge in its production next year, mainly led by copper and zinc. The company is undertaking a huge expansion program that will raise its output of copper by almost 80% by 2025, to 1.8 million tonnes per year.The conglomerate owns assets in Mexico, Peru, Spain and the United States, and it produced 254,219 tonnes of copper in the third quarter of...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Three-month base metals prices on the London Metal Exchange were for the most part under pressure during morning trading on Thursday October 25, with the complex down by an average of 0.2%. Poor US new home sales data on Wednesday and weakness in equity markets are weighing on market sentiment.Copper leads the weakness with a decline of 0.8% as at 07:39am London time, with aluminium, zinc and tin...Read More
* Falling stock markets spur interest in gold * Wall Street suffered worst one-day fall since 2011 * ECB keeps policy unchanged even as growth wanes * Palladium moves away from Tuesday's record high (Updates prices, adds details)By Swati VermaBENGALURU, Oct 25 (Reuters) - Gold edged lower on Thursday,with some investors taking advantage of a recent surge in pricesto lock in profits.Spot gold was d...Read More
BEIJING (Reuters) - China finds it “hard to understand” why the United States is not sending senior government officials to a major import expo in Shanghai next month, the foreign ministry said on Thursday.The world’s two biggest economies are locked in an escalating tariff row, with President Donald Trump having railed against China for what he sees as intellectual property thef...Read More
VANCOUVER - Teck Resources Ltd. reported a profit of $1.3 billion in its third quarter, boosted by the sale of the Waneta Dam.The miner says the profit amounted to $2.23 per share for the three months ended Sept. 30, compared with $584 million or $1.01 per share a year ago.Revenue totalled $3.2 billion, up from $3.1 billion.On an adjusted basis, Teck says it earned 81 cents per share for the quart...Read More