Listen to this podcast airing on our site by clicking here or subscribe on iTunes here.We've seen markets get spooked recently as 10-year Treasury yields have continued to climb. On our recent Lifetime Income program, Jim Puplava delves into bond risk and what it means for your portfolio.Bond Market Risk AheadWe're in the middle of a Federal Reserve rate raising cycle right now, and...Read More
SHANGHAI, Feb 8 (SMM) – China imported 443,000 mt of unwrought copper and copper-fabricated products in January, up 16.1% from the same month last year, according to customs data.However, this was down from 450,000 mt in December 2017, marking a decline for two consecutive months. This is due to limited construction activities in the winter season as well as a high output rate at home.Separa...Read More
SHANGHAI, Feb 8 (SMM) – Russian nickel was trading at a discount of 200 yuan/mt to the Wuxi Stainless Steel Exchange 1803 contract on Thursday February 8, SMM learned. This compared with a discount of 300 yuan/mt hear a day earlier.Jinchuan nickel was trading at a premium of 100-200 yuan/mt, up from 100 yuan/mt on Wednesday.Transactions were mostly reported at 99,000-100,100 yuan/mt today, d...Read More
SHANGHAI, Feb 8 (SMM) –Copper: Lower oil prices and a stronger US dollar are bearish on base metals but we see limited downward room for copper due to expectations of tighter concentrate supply in the future. We expect LME copper to trade at $6,880-6,950/mt today and SHFE copper at 51,800-52,240 yuan/mt. As the SHFE physical delivery is around the corner, it would be difficult for spot coppe...Read More
SHANGHAI, Feb 8 (SMM) –Copper: Lower oil prices and a stronger US dollar are bearish on base metals but we see limited downward room for copper due to expectations of tighter concentrate supply in the future. We expect LME copper to trade at $6,880-6,950/mt today and SHFE copper at 51,800-52,240 yuan/mt. As the SHFE physical delivery is around the corner, it would be difficult for spot coppe...Read More
SHANGHAI, Feb 8 (SMM) –Copper: Lower oil prices and a stronger US dollar are bearish on base metals but we see limited downward room for copper due to expectations of tighter concentrate supply in the future. We expect LME copper to trade at $6,880-6,950/mt today and SHFE copper at 51,800-52,240 yuan/mt. As the SHFE physical delivery is around the corner, it would be difficult for spot coppe...Read More
Metal Bulletin correspondents round up the main topics and trends from the final day of the 2018 Investing in African Mining Indaba. Resource nationalism Miners are expecting a showdown in the Democratic Republic of Congo, where a new mining code is slated to be signed into law. But instead of fighting individual battles, companies are for the first time pulling together in a force that unites bot...Read More
Base metals traded on the London Metal Exchange are little changed this morning, Thursday February 8, with copper (+0.5%) and zinc (+0.5%) the only metals in positive territory, while the rest are under slight downward pressure. Volume remains healthy, however, with 18,941 lots traded as of 07.16 am London time.The base metals complex seems to be undermined by a more pronounced appreciation in the...Read More
Base metals prices on the London Metal Exchange mostly recovered from early morning lows at the close on Thursday February 8, but copper prices remained downbeat.Copper closed $35 lower after crashing over 2.4% on Wednesday, prices remain below $6,900 per tonne following further deliveries into LME-listed warehouses. "Copper was weaker earlier on news that LME stocks rose by another 21,000 tonnes...Read More
Comex copper prices bounced back on Thursday February 8 after crashing to a multi-week low the day before, with investors still upbeat on global growth prospects for 2018. Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 1.00 cents or 0.3% to $3.0975 per lb. Yesterday, the metal touched $3.1060, the weakest since January 23. "Downside prices risks are like...Read More
Base metals prices on the London Metal Exchange were mostly in negative territory once again during morning trading on Thursday February 8, with nickel dropping back below $13,000 per tonne. The three-month nickel price has now plummeted 7.2% since it hit $14,000 per tonne last Thursday. The recovery in the dollar has put pressure on prices; most recently it was trading 0.32% higher at 90.55 - the...Read More
With gold prices up nearly 9% year to date, investors are asking, "Should I invest in gold in 2018?"The answer is an emphatic yes.According to Money Morning Resource Specialist Peter Krauth, we are entering the next phase of a gold bull market that could generate immense profits for the savvy investor.Let's take a look at the catalysts behind Peter's prediction – and how you can profit from...Read More
The Turkish steel mills returned to the deep-sea scrap market for a number of cargoes with prices going up on Thursday February 8.Steel producers in the country booked at least four deep-sea cargoes, totaling 137,000 tonnes, late on February 7.A steel mill in the Iskenderun region booked a US cargo, comprising 23,000 tonnes of HMS 1&2 (80:20) at $349.50 per tonne, 20,000 tonnes of shredded at $354...Read More
Metal Bulletin correspondents round up the main topics and trends from the final day of the 2018 Investing in African Mining Indaba. Resource nationalism Miners are expecting a showdown in the Democratic Republic of Congo, where a new mining code is slated to be signed into law. But instead of fighting individual battles, companies are for the first time pulling together in a force that unites bot...Read More
Brazil's bauxite export volumes fell by 48.7% year-on-year in January, once again affected by lower shipments from Minera????o Rio do Norte (MRN).Exports totaled 433,797 tonnes, down from 845,347 tonnes a year earlier, Brazilian foreign trade ministry MDIC said on Thursday February 8.The city of Oriximin??, in the west of Par?? state where...Read More
Earnings at Brazilian copper products producer Paranapanema returned to a positive figure in the fourth quarter of 2017 amid the company's continuing process of operational recovery.The company reported earnings before interest, taxes, depreciation and amortization (Ebitda) of 20.1 million Reais ($6.18 million) in the last quarter of 2017.This compared with a loss of 15.1 million Reais a year earl...Read More
Comex copper prices bounced back on Thursday February 8 after crashing to a multi-week low the day before, with investors still upbeat on global growth prospects for 2018. Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 1.00 cents or 0.3% to $3.0975 per lb. Yesterday, the metal touched $3.1060, the weakest since January 23. "Downside prices risks are like...Read More
Good morning from Metal Bulletin's London office; we bring you the latest news and pricing stories on Thursday February 8.Base metals on the London Metal Exchange were largely lower pushed down this morning by fresh deliveries and a stronger dollar. The copper price was dented by another large delivery into LME-listed warehouses today. 25,950 tonnes were delivered in across Busan, Port Klang...Read More
Base metals prices on the London Metal Exchange were mostly in negative territory once again during morning trading on Thursday February 8, with nickel dropping back below $13,000 per tonne. The three-month nickel price has now plummeted 7.2% since it hit $14,000 per tonne last Thursday. The recovery in the dollar has put pressure on prices; most recently it was trading 0.32% higher at 90.55 - the...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday February 8*Copper -$49.63 (-315.08 yuan) Aluminium -$461.19 (-2,928.05 yuan) Zinc -$96.09 (-610.05 yuan) Nickel -$296.59 (-1,883.05 yuan) *The physical arbitrage numbers...Read More