By: Stewart Thomson, Graceland Updates1. Please click here now. Double-click to enlarge this long-term gold chart. Fundamental and technical analysis are both strongly supporting gold's rally towards the key $1400 area.2. Having said that, COMEX price action mainly reflects action in the physical market and this is the weak season for gold.3. Investors need patience. New...Read More
China's domestic rebar prices resumed their downward trend on Tuesday March 26 after holding steady for a day, with bearish sentiment brought about by the upcoming decrease of value-added tax in the country weighing on the market. Domestic Eastern China (Shanghai): 3,800-3,850 yuan ($566-573) per tonne, down 30-40 yuan per tonneNorthern China (Beijing): 3,820-3,860 yuan per tonne, down 10-20 yuan...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. ...Read More
Steelmakers in Turkey continued to stay out of the deep-sea scrap market on Tuesday, March 26, due to the volatile Turkish lira, sources told Fastmarkets.Having slumped to TRY100 to $17.41 on Monday - compared with TRY100 to $18.31 on March 18 - the lira regained some ground following an intervention by the Central Bank of the Republic of Turkey (TCMB). The currency had been de...Read More
Physical iron ore prices stayed rangebound for a second day on Tuesday March 26 as market participants waited on news of the full impact of Cyclone Veronica on Australian iron ore operations.MB 62% Fe Iron Ore Index: $85.23 per tonne cfr Qingdao, down $0.58 per tonne. MB 62% Fe Pilbara Blend Fines Index: $84.35 per tonne cfr Qingdao, down $0.58 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $87....Read More
Trading activity in the CIS export billet market enlivened toward the end of March amid renewed demand from North Africa, and Algeria in particular.An Algerian long steel producer booked two lots of Russian billet, each of 20,000 tonnes, scheduled for shipment in April at $492 per tonne cfr.The deals were not included in the calculation of Fastmarkets' CIS export...Read More
China's domestic rebar prices resumed their downward trend on Tuesday March 26 after holding steady for a day, with bearish sentiment brought about by the upcoming decrease of value-added tax in the country weighing on the market. Domestic Eastern China (Shanghai): 3,800-3,850 yuan ($566-573) per tonne, down 30-40 yuan per tonneNorthern China (Beijing): 3,820-3,860 yuan per tonne, down 10-20 yuan...Read More
The high-grade manganese ore index fell on Friday March 22 after sellers re-entered the market offering at a price stable with last month; in alloys, the Chinese ferro-manganese price rose following the recent recovery in the country's silico-manganese market. 44% manganese ore index retreats after previous climbDeals for 37% material concluded at higher levelsSilico-manganese prices rise in China...Read More
A Perfect Storm is hitting the Gold market, with an internal factor (QE), an external factor (SGE), and a systemic factor (Basel). All three forces are positive in releasing Gold from the corrupt clutches of the Anglo-American banker organization. The West has an all-out blitz to ditch the USDollar and to adopt the Gold Standard in its early form, namely trade payment. In the last ten years sinc...Read More
By: IRA EPSTEINGOLD IS AT A KEY JUNCTURE:Read More
By: Stewart Thomson, Graceland Updates1. Please click here now. Double-click to enlarge this long-term gold chart. Fundamental and technical analysis are both strongly supporting gold's rally towards the key $1400 area.2. Having said that, COMEX price action mainly reflects action in the physical market and this is the weak season for gold.3. Investors need patience. New...Read More
James Hyerczyk19 hours ago (Mar 26, 2019 6:00 AM GMT)Gold futures finished higher last week, supported by a steep drop in Treasury yields, a weaker U.S. Dollar and a drop in demand for higher risk assets. A dovish Fed was primarily responsible for the strength in gold. It fueled a rally when it decided to leave interest rates unchanged, pause further rate hikes in 2019 and slash its growth forecas...Read More
Norsk Hydro's Alunorte alumina refinery, located in Brazil's northern state of Par??, is expected to operate at 75-80% of its capacity two months after the receipt of approval from the Brazilian federal court in Bel?(C)m, Norsk Hydro Brazil's executive vice president of bauxite and alumina said.According to John Thuestad, this approval, which will be debated at an April 4 meeting between Hydro and...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 26.Please click...Read More
Investing.com - Gold prices traded lower on Tuesday in Asia after hitting a one-month high the previous day.Gold futures traded on the Comex division of the New York Mercantile Exchange were down $5.05, or 0.4%, at $1,323.95 per ounce by 1:40 AM ET (05:40 GMT).The fall in gold prices came as stock markets and other risky assets recovered from a tumble on Monday.The precious metal received support...Read More
Nickel's three-month price on the London Metal Exchange was higher at the close of trading on Tuesday March 26, at $13,105 per tonne, with dip-buying emerging despite continued strength in the US dollar index. The US dollar index was just under the psychological level of 97. Total LME nickel stocks remain at their lowest level in seven years at 183,582 tonnes, with just 116,292 tonnes on-warr...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday March 26 that are worth another look.The London Metal Exchange has announced a six-month suspension of listing fees for new cobalt brands on the exchange in a note to members on Tuesday March 26 amid emerging liquidity concerns from producers. There are no concerns surrounding the availability of bauxite to meet ongoin...Read More
Nickel's three-month price on the London Metal Exchange was higher at the close of trading on Tuesday March 26, at $13,105 per tonne, with dip-buying emerging despite continued strength in the US dollar index. The US dollar index was just under the psychological level of 97. Total LME nickel stocks remain at their lowest level in seven years at 183,582 tonnes, with just 116,292 tonnes on-warr...Read More
The London Metal Exchange has announced a six-month suspension of listing fees for new cobalt brands on the exchange in a note to members on Tuesday March 26, amid emerging liquidity concerns from producers."[A] number of cobalt producers have indicated a desire to list their brand on the LME," the exchange said in the note, "but have expressed concerns that, in the event that the 'user choice' mo...Read More
The United States' copper market was modestly lower on Tuesday March 26 morning amid a lack of trading action and industry participants seeking fresh market catalysts. The copper price for May settlement on the Comex division of the New York Mercantile Exchange inched down 0.30 cents to $2.8535 per lb. Copper trading has been fairly quiet over the past several weeks, with modest global growth...Read More