Trade unions representing workers for Chile's state-run miner Codelco have called on their members to mobilize in support of protests against the government.Union No1 for Codelco's Chuquicamata has joined Sindicato No1 for BHP's Escondida in backing protestors, whose opposition to inequality in the country has escalated into alleged looting and arson, and to violent confrontations with the militar...Read More

Gold price became over-extended from a key trend line this summer.Its lateral trading range was necessary to allow it to consolidate the rally.Central bank demand will keep gold price stable until the next breakout.For many investors, gold's extended trading range since late August has been agonizingly long. Gold bulls have patiently waited for the next rally phase of the metal's price to commence...Read More

Vinayak Bhave has joined TradeCloud as head of India to solidify the company's presence in India and Middle East, the company said on Friday November 1.Launched in October 2017, TradeCloud is a digital metals trading platform where producers, consumers and traders can meet to exchange information, negotiate contracts and conclude business. Vinayak will be based in Mumbai, India.Prior to joining...Read More

Experts like Surendra Mehta of the India Bullion and Jewellers Association (IBJA) had but a few days ago painted a picture of doom and gloom, forecasting gold buying would fall by 50% compared to Diwali 2018.Ajay Kedia, director of Kedia Advisory, said gold buying fell 25% this year, LiveMint reported.According to the Confederation of All India Traders (CAIT), about 6,000 kg of gold was estimated...Read More

Government subsidies are a necessary part of early electric vehicle adoption but EVs will have mainstream usage without the need for incentives in the long term, panelists said at the LME Metal Seminar this week. EV adoption has come at a slower pace than previously expected, coinciding with cuts in government subsidies in China. In March this year, Beijing announced a 50-60% reduction in subsidie...Read More

Chinese steel exporters are bracing for a tough year end and an equally challenging 2020, even as the trade war between China and the United States mellows after a truce reached in early October.A source at a major steelmaker in eastern China expects the export market for Chinese steel to worsen in the months to come, even if the US holds off on increasing its tariffs on Chinese imports. "The truc...Read More

A case can be made that silver's current price "stability" - believed by many to be well below where it "should" be - is the result of at least three interlocking factors.There are certainly other considerations, but the following seem especially relevant today...Our chosen metaphor is the three-legged stool. Take one leg away, and the stool topples. In the case of silver, the outcome is likely to...Read More

Aluminium closed at its highest in six weeks on the London Metal Exchange on Friday November 1 while copper also continued its recovery. The three-month aluminium closed at $1,786 per tonne this afternoon after peaking earlier at $1,790 per tonne. More than 18,000 lots changed hands by the close, the highest one-total since July. Still, market participants must factor in costlier financing conditi...Read More

The alumina price on a fob Australia basis rose to $285 per tonne in the week ending Friday November 1, its highest since early October, thanks to continued import demand from China. Fastmarkets calculated the benchmark daily alumina index, fob Australia at $285.18 per tonne on Friday, down only slightly from $285.42 per tonne on the previous day. Before Thursday, it had not traded above $285 per...Read More

Seaborne coking coal prices plunged on Friday November 1 on trades involving premium mid-volatility cargoes procured by end-users in China and India.Fastmarkets indicesPremium hard coking coal, fob DBCT: $132.38 per tonne, down by $11.07 per tonnePremium hard coking coal, cfr Jingtang: $145.08 per tonne, down by $16.45 per tonneHard coking coal, fob DBCT: $128.84 per tonne, unchangedHard coking co...Read More

Where is all this silver coming and going, who is this silver "whale", and what does JP Morgan have to do with all of this?by Dunagun Kaiser with Ted Butler via Reluctant PreppersLegendary silver analyst Ted Butler of Butler Research returns to Reluctant Preppers to answer your questions about recent revelations on massive physical shipments of silver at the COMEX, where all the silver is coming f...Read More

Copper has attempted to rebound since early September following a marked sell-off in the summer months where macro and fundamental forces have been prevalent.On the macro front, copper has benefited from a slight easing in US-China trade tensions and more monetary policy easing across the globe - including China, where copper consumption is the most exposed - that has shored up investor sentiment....Read More

There have been persistent rumors about a silver shortage, but David is unconvinced. That doesn't mean there's not one looming...by Kerry Lutz with David Morgan via FSN GoldandSilverThe fundamental case for precious metals has never stronger. Earlier in the year the technical case became overwhelming and we saw major price increases in gold and silver. Now the market is taking a breather, but we c...Read More

Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday November 1.China Seaborne manganese ore prices of both grades continued to slide after some miners slashed their offers further to offload remaining November-delivery cargoes.Higher grade ore prices fell to their lowest since August 2016 after a surge in liquidity.Trading in seaborne cargoes picked...Read More

Booking activity in the United States import pig iron market has come to a standstill until the price trend in ferrous scrap for November becomes clear, sources told Fastmarkets on Friday November 1.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $310-312 per tonne on November 1, narrowing upward from $305-312 per tonne a week earlier.No new bookings of pig iron wer...Read More

Aluminium closed at its highest in six weeks on the London Metal Exchange on Friday November 1 while copper also continued its recovery. The three-month aluminium closed at $1,786 per tonne this afternoon after peaking earlier at $1,790 per tonne. More than 18,000 lots changed hands by the close, the highest one-total since July. Still, market participants must factor in costlier financing conditi...Read More

The alumina price on a fob Australia basis rose to $285 per tonne in the week ending Friday November 1, its highest since early October, thanks to continued import demand from China. Fastmarkets calculated the benchmark daily alumina index, fob Australia at $285.18 per tonne on Friday, down only slightly from $285.42 per tonne on the previous day. Before Thursday, it had not traded above $285 per...Read More

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The London Metal Exchange's new warehouse reform should provide more detail of off-warrant stock levels and create a fairer market environment, chief executive office Matthew Chamberlain said. But if the reporting of these so-called shadow stocks does not provide this fairness and clarity after a few months, the LME may look to take further steps to incentivize voluntary reporting, he added."If yo...Read More

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