They've gotten away with decades of depressing the price and nothing will save them should the CFTC disallow them from continuing to dominate...by Ted Butler via Silver SeekThe newly-installed chairman of the CFTC, Dr. Heath Tarbert, in office for only two weeks, submitted an op-ed to Fox Business News the other day, in which he laid out his goals for the agency. Dr. Tarbert comes to the agency wi...Read More
Physical tin market participants disagree over the next move in the price, with some telling Fastmarkets that it could rebound after a slide of more than 12% over the past two months although weak demand and erratic stock moves continue to dent momentum. On the London Metal Exchange, the three-month tin price has fallen by 12.7% since June 5 from above $19,000 per tonne. The price is also down by...Read More
Observers of the copper market are looking at a trend that started in 2001 to determine where the market could find support after five days of successive selling took the price to two-year lows by Monday August 5.At $5,665 per tonne, the London Metal Exchange's benchmark three-month copper futures contract was down by 5.9% since Tuesday last week, having sold off again on Monday amid a worsening d...Read More
China's demand for imported billet could shrink in the coming months due to a surge in supply that could cause domestic spot prices to fall and make them more attractive to buyers.While large tonnages were delivered to the country over the past couple of months, market participants do not expect imports to continue at the same pace over the rest of the year. In June, China imported 110,000 tonnes...Read More
Financial market uncertainty and accommodative monetary policy will likely support gold investment demand.Price momentum and positioning may fuel rallies and create pullbacks, as investors continuously reassess their expectations based on new information.Weaker economic growth may soften gold consumer demand near term, but structural economic reforms in India and China will likely support long-ter...Read More
Physical tin market participants disagree over the next move in the price, with some telling Fastmarkets that it could rebound after a slide of more than 12% over the past two months although weak demand and erratic stock moves continue to dent momentum. On the London Metal Exchange, the three-month tin price has fallen by 12.7% since June 5 from above $19,000 per tonne. The price is also down by...Read More
China's domestic rebar prices held steady on Tuesday August 6, but export prices for the long steel product fell as a result of a weaker yuan. Domestic Eastern China (Shanghai): 3,770-3,800 yuan ($538-542) per tonne, unchangedNorthern China (Beijing): 3,730-3,760 yuan per tonne, unchangedTraders kept prices flat during the day to see how the futures market develops.Sellers would not have been able...Read More
Observers of the copper market are looking at a trend that started in 2001 to determine where the market could find support after five days of successive selling took the price to two-year lows by Monday August 5.At $5,665 per tonne, the London Metal Exchange's benchmark three-month copper futures contract was down by 5.9% since Tuesday last week, having sold off again on Monday amid a worsening d...Read More
Prices for flat steel imports into the United Arab Emirates and Saudi Arabia were stable in the week ended Tuesday August 6, with demand weak because of the upcoming Eid al Adha religious holiday next week.The market was expected to improve in the second half of August, when the eid, and the Hajj pilgrimage and holiday seasons, will almost be over.Some deals were placed last week, so buyers did no...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Growing US crude production – particularly in the midcontinent and Rockies regions – is upending traditional Gulf Coast pipeline routes.The result? An unprecedented great American oil pipeline build-out. The shale revoluti...Read More
The Turkish steel mills continued to stay away from the deep-sea scrap markets due to the persistent weak demand for finished long steel products, sources said on Tuesday August 6.Since the mills in the country booked a number of deep-sea cargoes in the week ended July 26, they have made no further purchases.Turkish steel producers want to sell some rebar before making any further deep-sea...Read More
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The Midwest aluminium premium in the United States moved to its lowest level in nearly 17 months on Tuesday August 6, with buyers remaining detached from the spot market. Fastmarkets' assessment of the aluminium P1020A premium, ddp Midwest US, edged down to 17.5-18 cents per lb on August 6, down from 17.75-18.25 cents per lb previously, where the premium had held since mid-July.The premium has bee...Read More
The benchmark secondary aluminium alloy A380.1 price in the United States fell to a new low on Monday August 5, with the market pressured by a handful of producers continuing to aggressively compete for sales amid slowing die-caster orders.Fastmarkets' price assessment for aluminium alloy A380.1, delivered Midwest, declined to 65-68 cents per lb on August 5, down from 66-70 cents per lb in the pre...Read More
Prices for some aluminium scrap grades have continued to move lower, particularly the mill grades, due to a decrease in primary metal on the London Metal Exchange, sources said on Monday August 5."I would say prices have dropped a penny or two below [for mill grades]. I do think that smelter prices are dropping again also," one aluminium scrap seller said. "I don't know that we have seen a bottom...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.The U.S has increased tariffs on $200bn of Chinese goods to 25%, from 10%, impacting a number of metals. Commentary below comes from the Wood Mackenzie metals team:Copper By Wood Mackenzie Senior Consultant, Yanting Zhou"Previous...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.On Friday 15th February 2019, Vale announced there was a fire affecting a conveyor belt system at its distribution centre in Malaysia. Vale anticipate this will result in a 10 to 15 day halt in operations and note that a planned 10 da...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.What does tight oil have in common with Facebook, Apple, Amazon, Netflix and Alphabet's Google stocks (known as FAANG stocks)? Answer: tight oil is arguably the upstream equivalent of these tech sector leaders. It's the hot investment...Read More
A recovery in the exchange rate between the Chinese offshore yuan and the US dollar helped to steady base metal futures in London on Tuesday August 6, after heavy losses in preceding days, although the price of copper, the complex leader, remained on a downtrend.At $5,683 per tonne on Tuesday, the price of copper, 3 months, London Metal Exchange Daily Official, was down by $2 per tonne from the cl...Read More