(Kitco News) - Gold holdings in global exchange-traded funds and similar products rose in October by 16.5 tonnes for the first monthly inflow in four months, the World Gold Council reported Tuesday.Holdings now stand at 2,345.6 tonnes. Still, they are down 25.8 tonnes for the year to date.“Global stock markets experienced their worst October since the 2008 financial crisis, with the MSCI All...Read More
Base metals prices on the London Metal Exchange were predominantly lower at the close of trading on Monday November 5, topped by a continued downturn in lead's three-month price while aluminium was the only metal to trade in positive territory.Despite reaching an intraday high of $2,002.50 per tonne, the three-month lead price closed nearer to its October low of $1,915 per tonne, with last week's...Read More
Comex copper reversed lower to start the new week on Monday morning in the US, with a broad-based sell-off and political uncertainty keeping market participants on the sidelines.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 4.10 cents to $2.7720 per lb. On Friday, the contract touched a high of $2.8090 per lb, the highest level since Octobe...Read More
Easing supply tightness in the alumina market continues to put significant pressure on the fob Australia alumina index and traders expect prices to fall even further before the end of the year. The benchmark fob Australia daily alumina index has fallen back below $450 per tonne for the first time since June 2018. It was most recently assessed on Friday November 5 at $442.50 per tonne. Traders...Read More
Australian lithium spodumene producer Altura Mining shipped about 10,000 tonnes of lithium spodumene from Port Hedland in Western Australia to China in October 2018, the company has said.Altura announced on October 31 that it had despatched two cargoes each of around 5,000 tonnes of lithium spodumene to China, on October 9 and October 20. The material came from the company's Pilgangoora lithium mi...Read More
Australian lithium spodumene miner Neometals reported that it had achieved slightly higher production volumes in the July-September quarter in a results statement published on Wednesday October 31.Neometals increased its output by about 1.68%, producing 111,023 tonnes of lithium spodumene in the quarter, compared with 109,183 tonnes produced in April-June.Output of higher-grade lithium spodumene (...Read More
Easing supply tightness in the alumina market continues to put significant pressure on the fob Australia alumina index and traders expect prices to fall even further before the end of the year. The benchmark fob Australia daily alumina index has fallen back below $450 per tonne for the first time since June 2018. It was most recently assessed on Friday November 5 at $442.50 per tonne. Traders...Read More
Fastmarkets launched its China cobalt sulfate price in May 2018, with historical data dated back to March, tracking the price of this key electric vehicle battery material. Read More
Turkish steel mills were quiet in the scrap import market at the beginning of the week, with prices remaining firm, sources said on Monday November 5.After booking a number of cargoes in the past week, Turkish steel producers paused their deep-sea purchasing activity on Monday.The most recent bookings put the price for HMS 1&2 (80:20) at $341 per tonne cfr for material from the United States.In th...Read More
Turkish domestic auto bundle scrap prices have gone down in line with falling domestic rebar prices, while ship scrap prices have risen thanks to strong imported scrap values, sources said on Monday November 5.Fastmarkets' weekly price assessment for auto bundle (DKP grade) ferrous scrap was TRY1,750-1,940 ($322-357) per tonne delivered, widening downward from last week's TRY1,830-1,940 per tonne....Read More
The freefall in aluminium scrap prices could soon reach its bottom and stabilize, European secondary aluminium market participants told Fastmarkets this week.The combined impact of the trade war between the United States and China and fundamental changes in how the Chinese consume scrap has led to a flood of aluminium scrap entering the global market, pushing the price of some grades to...Read More
Comex copper reversed lower to start the new week on Monday morning in the US, with a broad-based sell-off and political uncertainty keeping market participants on the sidelines.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 4.10 cents to $2.7720 per lb. On Friday, the contract touched a high of $2.8090 per lb, the highest level since Octobe...Read More
Fastmarkets launched its China cobalt sulfate price in May 2018, with historical data dated back to March, tracking the price of this key electric vehicle battery material. Read More
China's hot-rolled coil market was largely steady on Monday November 5, but expectations have emerged for some upward momentum in the export segment as soon as prices bottom out.DomesticEastern China (Shanghai): 4,030-4,040 yuan ($584-586) per tonne, narrowing downward by 10 yuan per tonneNorthern China (Tianjin): 4,030-4,040 yuan per tonne, unchangedPrices in both major trading regions in China w...Read More
Ferrous futures in China registered mild movements during morning trading on Monday November 5, with the impact of winter steelmaking restrictions and the potential for easing tensions between the country and the United States being factors to watch out for over the rest of the month.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,034 yuan ($585) per tonne, down...Read More
The latest news and price moves to start the Asian day on Tuesday November 6.Base metal prices on the London Metal Exchange were predominantly lower at the close of trading on Monday November 5, topped by a continued downturn in lead's three-month price while aluminium was the only metal to trade in positive territory. Read more in our live futures report.Here are how prices looked at the close of...Read More
Suppliers of long steel products in the European Union have been raising their offer prices for November deals in anticipation of strong demand and high manufacturing costs, Fastmarkets was told on Monday November 5.But the recent political uncertainty that has enveloped all the world's major markets was keeping customers quiet for now, and content to keep their buying activities confined to the s...Read More
China's domestic rebar prices dropped on Monday November 5, with market participants taking a pessimistic view on demand and supply. Domestic Eastern China (Shanghai): 4,630-4,660 yuan ($672-676) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 4,450-4,480 yuan per tonne, down 10-20 yuan per tonneSpot rebar prices fell on Monday amid early-hours losses in the futures market...Read More
Turkish steel mills were quiet in the scrap import market at the beginning of the week, with prices remaining firm, sources said on Monday November 5.After booking a number of cargoes in the past week, Turkish steel producers paused their deep-sea purchasing activity on Monday.The most recent bookings put the price for HMS 1&2 (80:20) at $341 per tonne cfr for material from the United States.In th...Read More
Turkish domestic auto bundle scrap prices have gone down in line with falling domestic rebar prices, while ship scrap prices have risen thanks to strong imported scrap values, sources said on Monday November 5.Fastmarkets' weekly price assessment for auto bundle (DKP grade) ferrous scrap was TRY1,750-1,940 ($322-357) per tonne delivered, widening downward from last week's TRY1,830-1,940 per tonne....Read More