Comex copper prices inched higher during morning trading in the US on Wednesday November 7 with a persistently softer dollar lending support amid a lack of other market catalysts. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 0.75 cents to $2.74 per lb. "In the broader macroeconomic environment, downside price risks are likely...Read More
The premium for special high grade (SHG) zinc ingots in northern Europe has rebounded from an eight-year low this week on reduced warehouse stocks, while secondary lead premiums dropped in India and Southeast Asia after more units were available due to the absence from the market of a large commodity house. European zinc premium rises from 8-year low. Long term zinc and lead contract talks i...Read More
The Lead REACH Consortium has signed a co-operation deal with the European Chemicals Agency (ECHA), designed to speed up and improve the information available on registered substances and allow regulators to make faster, better-informed decisions.The agreement comes as the lead industry waits to see whether four chemical compounds that are irreplaceable in the production of lead batteries will be...Read More
DR Congo: Is government intervention the real risk to watch?SPONSOREDverisk maplecroftBezant's Mankayan back in copper-gold spotlightSPONSOREDbezant resourcesKyzyl ramp-up signals new growth path at buoyant PolymetalSPONSOREDpolymetal internationalGolden Mile has the right stuff: ReynoldsSPONSOREDgolden mile resources The company said this week its 18-month assessment of what it called "best...Read More
The latest news and price moves to start the Asian day on Thursday November 8.Aluminium prices ended higher on the London Metal Exchange on Wednesday November 7 but a 10-year low in zinc inventories failed to boost the metal's price. Read more in our live futures report.Here are how prices looked at the close of trading.The latest round of sanctions imposed by the United States on November 5...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesThe bank increased the target price to £11 (US$14.47) per share from the previous £10/share and also retained the "outperform" rating, noting that copper was still one of its favoured commodities and, as a copper pure play, Antofagasta was poised to benefit from the upside seen in the commodity.Antofagasta's share price fell...Read More
Brazil's Gerdau expects international steel prices to remain at current levels throughout 2019, but is concerned about trade conflict pressure, president and chief executive officer Gustavo Werneck said on Wednesday November 7.Market fundamentals are expected to be supportive for long steel, the company's main product, due to the US Section 232 tariffs leading to increased steel prices in the Unit...Read More
Demand for flat steel in Argentina is expected to show a slight increase in 2019, after this year's financial and economic turmoil in the country, Ternium Siderar general director Mart?-n Berardi said on Wednesday November 7."We need to get through this difficult period, which should last around two to three months," Berardi said in Colombia on the sidelines of the 59th Latin America Steel Confere...Read More
Investors and market participants seem unfazed while bidding the U.S. equities up substantially following the midterm elections which resulted in the Democratic Party now controlling the House of Representatives. Although the Senate remains firmly in control by the Republicans, yesterday's election gave Democrats the needed majority to control the House of Representatives. With one hour left in tr...Read More
Latin American steelmakers are worried about the effects of the Section 232 tariffs imposed on steel imports into the United States, as well as a diversion of steel products to the region and low-priced material from China.Increasing protectionism worldwide was one of the factors behind the slow economic growth in the region, along with currency volatility and uncertainty in Argentina, Brazil and...Read More
(Kitco News) - Kinross Gold Corp. (TSX: K, NYSE: KGC) reversed to a loss in the third quarter as production and gold prices fell, the company reported late Wednesday. Excluding special items, the company listed an adjusted net loss of $48.4 million, or 4 cents per share, a turnaround from adjusted net earnings of $84.1 million, or 7 cents, in the same period a year ago. The net loss was $104.4 mil...Read More
(Kitco News) - Gold and silver prices are slightly higher, but well down from earlier daily highs, in early-afternoon U.S. trading Wednesday. The metals were lifted by a drop in the U.S. dollar index today. December gold futures were last up $2.40 an ounce at $1,228.70. December Comex silver was last up $0.08 at $14.58 an ounce.Tuesday’s U.S. mid-term elections turned out as many had expecte...Read More
The new round of sanctions imposed by the United States on November 5 is expected to cut Iranian steel exports further, gradually leading to lower Iranian steel output, market sources believe."Today's action includes the designation of 50 Iranian banks and their foreign and domestic subsidiaries," the US Treasury Department announced in its report on Monday, along with "the identification of more...Read More
(Kitco News) - A shift in the political landscape following Tuesday’s midterm elections in the U.S. is only having a material impact on gold prices as the U.S. dollar loses some momentum.As many political pundits expected, the Democratic Party regained control over the House and the Republican Party retained control over the Senate, expanding their majority by five seats. While the U.S. doll...Read More
The price for rebar produced and delivered in Northern Europe rebounded at the low end of the range in the week to Wednesday November 7, with sellers rejecting any further push for lower prices due to high scrap prices."Scrap prices are higher and rebar prices are higher," one trader said. "There hasn't been any increase in demand, but prices have bottomed out."Fastmarkets' weekly price assessment...Read More
Prices for hollow steel sections in Northern Europe widened downward this week due to falling feedstock costs, Fastmarkets heard on Wednesday November 7.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe fell by ?,?10 per tonne on the low end to ?,?640-660 ($730-753) per tonne delivered on November 7.This compared with ?,?650-660 pe...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 m...Read More
The following Fastmarkets minor metals prices changed on Wednesday November 7:Antimony MB free market regulus, $/tonne: $8,150-8,350 per tonne from $8,150-8,400Antimony MMTA standard grade II, $/tonne: $8,100-8,300 per tonne from $8,100-8,350Antimony MB Chinese free market MMTA standard grade II, yuan/tonne:...Read More
(Kitco News) - Australia’s weak currency is the key behind the country’s gold mining success, which is seeing new exploration and low debt levels, according to RBC Capital Markets.“The Australia gold mining sector is very healthy; we have strong margins and low to no levels of debt in the sector. There’s plenty of exploration upside, which can deliver some additional discov...Read More
The latest ferro-tungsten and ammonium paratungstate (APT) transactions, bids, offers and assessments in Europe, Vietnam and China, with blue tungsten oxide (BTO) and yellow tungsten oxide (YTO) deals taken into consideration.To view the latest price quotations, follow the links below:China- APT, fob China- Ferro-tungsten, fob China Europe- APT, cif Rotterdam - Ferro-tungsten, in-warehouse Rotterd...Read More