Chinese export prices for ferro-vanadium and vanadium pentoxide have held steady over the past week due to lackluster activity, with domestic prices remaining more favorable, while the European markets continued to gain strength on increased activity, closing the gap to the Chinese market. Chinese export prices stall amid favorable domestic market EU FeV prices up slightly on increased consumer ac...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 6.Please click...Read More
Base metals futures prices on the London Metal Exchange fell sightly on Tuesday November 6 while uncertainty continued about the outcome of the mid-term elections in the United States and that country's trade relations with China.On Tuesday, three-month nickel was the only price to trade in positive territory, at $11,775 per tonne, up by $25 per tonne from Monday's closing price of $11,750 per ton...Read More
Gold is the metal of kings, the ultimate money, an eternal store of value, an untarnishable embodiment of beauty. Gold is all those things. But it is not the most valuable metal you can own on a cost-per-ounce basis. Often, platinum commands a higher price than gold. Lately, platinum has traded at an abnormally large discount to the yellow metal. Metals investors who want to hold the most concentr...Read More
Prices for hot-rolled (HR) and cold-rolled (CR) steel sheet in Russia's Central Federal District around Moscow have decreased over the past week, reflecting a slowdown in demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for Russia-origin 4mm HR sheet was 40,000-40,500 roubles ($604-612) per tonne cpt Moscow on Tuesday November 6, including 18% VAT. This was down from 41,000-41...Read More
Gold enjoyed a 2% rally last month amid a pretty volatile October.Speculators hold a very small net long position in Comex gold, CFTC data shows. ETF investors boosted their gold holdings, albeit at a moderate pace, according to FastMarkets.Although October lived up to its reputation for risk assets, investors did not rush into gold.Given the Fed's determination to tighten its policy, investors ar...Read More
The latest news and price moves to start the Asian day on Wednesday November 7.Base metals futures prices on the London Metal Exchange fell again on Tuesday November 6 while uncertainty continued about the outcome of the midterm elections in the United States and that country's trade relations with China. Read more in our live futures report.Here are how prices looked at the close of trading:Brazi...Read More
The latest metal markets news and price moves to start the North American day on Tuesday November 6.London Metal Exchange base metal prices were little changed in morning trading on Tuesday November 6, with the market pausing for direction after taking heavy losses on Monday.Three-month copper price is down $13 against yesterday's 5pm closing price at $6,118 per tonne, while aluminium futures are...Read More
The outcome of today's US midterm elections will have a significant impact on US politics over the next two years, while it could also have implications for the economy and, in turn, stocks and the dollar, as the ease with which Donald Trump will be able to pass meaningful economic policies in the remaining two years of his first term as President is at stake. By extension, gold, which is pric...Read More
Today, Americans are choosing new members of Congress. Will there be a blue wave? Or maybe red? Some people say that hot economy will help Republicans – is that true? Let's read out today's article about the latest US nonfarm payrolls and find out how could they affect the mid-term elections and the gold market. Hourly Earnings Jump Above 3 Percent U.S. nonfarm payrolls accelerated i...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Tuesday November 6.Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Tuesday November 6, with those of aluminium, nickel and zinc benefiting from President Xi's announcement of plans to add new free trade zones in Shanghai.Check Fastmarket MB's live...Read More
As reported by Bloomberg, fund managers are cautioning against hoping that the US mid-term elections, which drop late Tuesday, could see a revival spark in Gold prices. Key highlights According to Franklin Templeton Investment's Stephen Land, concerns that the US Federal Reserve will pick up their pace of rate hikes will far overshadow any short-term action from the US midterm elections,...Read More
• Cautious mood underpins safe-haven demand and helps gain positive traction. • Subdued USD price action, ahead of the US midterm elections, remains supportive. • Fed rate hike expectations might keep a lid ahead of Thursday’s FOMC decision. Gold reversed an early dip to sub-$1230 level and is now holding with modest...Read More
Harvey is reporting on a lot of activity going on with silver at the COMEX. There is a gigantic amount of silver standing for delivery. Here are the details...by Harvey Organ of Harvey Organ BlogNOV 5/MARKETS SURGE ON LATEST RASMUSSEN POLL WHICH GIVES THE REPUBLICANS IN THE LEAD AND THEY CLAIM REPUBLICANS WILL TAKE BOTH HOUSES/GOLD DOWN $1.05 TO $1230.70.SILVER DOWN 9 CENTS TO $14.65/QUEUE JUMPING...Read More
Peter KrauthThe price of silver struggled in the early part of last week as the dollar gained and stocks retreated.Silver prices gave back about 2.6% in just two days. That would be a short-term blip, with silver quickly regaining all those losses in the next two days.October was brutal to stocks, with major indexes losing anywhere from 11% to almost 15%. By contrast, the silver price was down jus...Read More
Some Chinese bismuth producers are likely to cut production on squeezed profit margins, market participants told Fastmarkets, adding that it is hard to forecast the resultant impact on spot prices in the near term. Domestic Chinese bismuth prices have fallen from highs of this year of 71,000-72,000 yuan ($10,303-10,448) per tonne in February and have been mostly under pressure so far in 2018, acco...Read More
Canadian miners' performance slipped in the three months leading to the end of September, due mostly to weaker gold, nickel, copper and zinc prices, the latest report by consultancy Ernst & Young (EY) reveals.Following a 5% drop between April and June this year, gold prices decreased by another 5% in the third quarter, mainly due to the strong US dollar and the recent Federal Reserve rate hike of...Read More
Base metals futures prices on the London Metal Exchange fell sightly on Tuesday November 6 while uncertainty continued about the outcome of the mid-term elections in the United States and that country's trade relations with China.On Tuesday, three-month nickel was the only price to trade in positive territory, at $11,775 per tonne, up by $25 per tonne from Monday's closing price of $11,750 per ton...Read More
Glencore's subsidiary in the Democratic Republic of Congo, Katanga Mining (TSX:KAT), will temporarily halt cobalt exports from its Kamoto Project after finding high levels of uranium in the ore.The copper and cobalt producer said levels of the radioactive metal exceeded the acceptable limit allowed for export through major African ports.The suspension is expected to defer Katanga's revenue from co...Read More
The Comex copper price staged a modest recovery in the US morning on Tuesday November 6 amid a softening dollar and speculative buying. The copper price for December settlement on the Comex division of the New York Mercantile Exchange recovered 0.35 cents to $2.7595 per lb. Industrial metal markets continue to look at the trade dispute between the United States and...Read More