A summary of base metals premiums from across the globe for the week to Tuesday November 13.Please click...Read More
With the introduction of the new Cat 798 AC, Caterpillar expands its mining truck line to give customers the flexibility to choose what meets their needs and preferences. (Image supplied.)When Komatsu acquired Joy Global in 2016, the Japanese firm expanded its portfolio from surface to underground mining equipment, becoming the strongest competitor in th...Read More
Novelis will spend $175 million on expanding facilities at its Pindamonhangaba plant in South America, driven by solid consumer packaging demand, the US-headquartered firm said on Tuesday November 13. The rolled and recycled aluminium producer said the new facilities will expand rolling production by 100,000 tonnes to 680,000 tonnes per year of aluminium sheet, and recycling by 60,000 tonnes to 45...Read More
The export market for flat steel products from the Commonwealth of Independent States (CIS) softened further in the week ended Monday November 12 on low demand and a strong dollar.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) narrowed downward to $490-495 per tonne fob Black Sea on November 12, from $490-510 per tonne fob Black Sea a week earlier."Prices are...Read More
Domestic rebar prices in the United Arab Emirates (UAE) have fallen along with low bids from customers, while imported rebar prices have remained stable over the past week.Steel billet prices, meanwhile, were becoming firmer because raw material prices have strengthened, while Iran-origin material was now absent from the market, sources told Fastmarkets on Tuesday November 13.Domestic rebarLocal p...Read More
Flat steel import prices in Saudi Arabia and the United Arab Emirates (UAE) have remained steady over the past seven days due to weak demand, but a recovery is likely in the next few weeks because of stronger pricing for raw materials, sources told Fastmarkets on Tuesday November 13.UAEPrices on Russia-origin offers of hot-rolled coil (HRC) into the UAE have been unchanged at $560-565 per tonne cf...Read More
(Kitco News) - Gold and silver prices recouped mild early losses to trade around unchanged levels on the day, in early-afternoon dealings Tuesday. Gold hit another four-week low below $1,200.00 overnight. The silver market fell to a two-month low today. Precious metals were somewhat supported when the U.S. dollar index sold off today, on a corrective pullback after hitting a 1.5-year high on Mond...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesMarantelli, who came onto the Metals X board in September, has more than 40 years' experience in the mining sector, including the past 18 years running openpit and underground mines in Australia, Turkey, Spain, Zambia, Canada and Mexico.His job will be to get the Nifty underground mine to a run-rate of circa-40,000 tonnes per annum of co...Read More
The latest metal markets news and price moves to start the North American day on Tuesday November 13.Base metals on the London Metal Exchange were predominantly higher during morning trading on Tuesday November 13, with upward price action largely impervious to a continued surge in the US dollar index and optimism over US-China trade relations boosting commodity investments.Here's how base metals...Read More
(Kitco News) - Gold prices are expected to quietly move higher through the rest of the year into 2019, butone of the world’s top precious metals consultancy firms said investors shouldn’t expect to see fireworks as there currently isn’t an urgency for diversification.In a recent interview with Kitco News, Philip Newman, director and founding partner of Metals Focus, said that alt...Read More
DR Congo: Is government intervention the real risk to watch?SPONSOREDverisk maplecroftKyzyl ramp-up signals new growth path at buoyant PolymetalSPONSOREDpolymetal internationalNew Energy brings experience to new dawnSPONSOREDnew energy mineralsBezant's Mankayan back in copper-gold spotlightSPONSOREDbezant resourcesThe company said the mining licence was signed by Romania's prime minister Viori...Read More
CIS export slab prices inched up in the week ended Monday November 12 due to demand in Europe and Turkey helping CIS exporters to push to a somewhat higher level than previously expected.Fastmarkets' weekly CIS export slab price assessment was $455-465 per tonne fob Black Sea on November 12, up from $450-460 per tonne fob Black Sea a week earlier.Ukraine's Metinvest returned to the market - after...Read More
p>(Kitco News) - King Dollar will rule over gold prices in the near-term, but the yellow metal will continue to be an important diversifier and safe-haven asset for investors in the long-term according to one fund manager.In a telephone interview with Kitco News Maxwell Gold, director of investment strategy at Aberdeen Standard Investments, said that he sees gold as a strong buy on dips as volatil...Read More
Still...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.Subs...Read More
(Kitco News) - The gold/silver ratio has risen to its highest level in roughly a quarter century, with silver suffering from both weakness in precious metals lately but also dragged down by pessimism about base metals.“The silver price has been very weak in recent days - in both absolute and relative terms....The gold/silver ratio has risen to 86, its highest level in 25 years,” said a...Read More
Strong dollar capping prices The dollar...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue a...Read More
In just a few weeks, humanity may take its first paid ride into the age of driverless cars.Waymo, the secretive subsidiary of Google's parent company, Alphabet Inc., is planning to launch the world's first commercial driverless car service in early December, according to a person familiar with the plans. It will operate under a new brand and compete directly with Uber and Lyft. The early start ma...Read More
China's hot-rolled coil exporters lowered their offer prices on Tuesday November 13 to stimulate sales despite domestic prices being largely stable.DomesticEastern China (Shanghai): 3,800-3,820 yuan ($546-548) per tonne, narrowing downward by 10 yuan per tonneNorthern China (Tianjin): 3,820-3,840 yuan per tonne, unchangedTrading activity was moderate during the day after prices slumped a day earli...Read More
Gold could face further pressure if the metal falls below the $1,190-an-ounce area, says TD Securities. As of 8:12 a.m. EST, spot gold was 50 cents higher at $1,200.75 an ounce but has been below $1,200 for the first time since Oct. 11. “Messy European politics, along with a Fed which is set to remain on its tightening trajectory, have kept the dollar index above 97, which continues to add t...Read More
Aluminium The three-month LME aluminium price is attempting...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus do...Read More