Spain-based stainless steel producer Acerinox is hopeful that positive effects will be seen in the European market arising from the safeguarding measures announced by the European Commission on July 18.The producer noted in its 2018 half-year financial results, released on July 27, that stainless steel import volumes into Europe have been high and that this has exerted downward pressure on prices....Read More
Tool steels and high-speed steels producer B??hler Edelstahl, a subsidiary of Voestalpine's special steel division, intends to open a stainless steel mill with capacity for 205,000 tonnes per year in Kapfenberg, Austria, by mid-2021, equipment provider SMS Group said late last week.B??hler Edelstahl produces round and flat bars and wire products for applications in the aerospace and automotive ind...Read More
Metal Bulletin has today discontinued its weekly assessment for 2mm grade 304 cold-rolled stainless sheet export fob Northern European ports.After a consultation period, Metal Bulletin has suspended its EU export price assessment for grade 304 stainless steel cold-rolled sheets. European exports of commodity-grade stainless steel products such as 2mm grade 304 cold rolled stainless sheet have fall...Read More
Metal Bulletin has today launched a weekly assessment price for EU domestic grade 304 stainless steel cold rolled sheet (2mm) transaction ?,? per tonne delivered North Europe. After a consultation period, Metal Bulletin has launched a weekly assessment for Northern EU domestic stainless steel grade 304 cold-rolled sheet transaction price, which will comprise Metal Bulletin's weekly base price asse...Read More
The copper and brass scrap markets remained mostly steady in the United States, with market participants searching for clarity in the wake of a steep drop in Comex copper prices over the past week.The September-delivery Comex contract closed at $2.7475 per lb on Wednesday August 1, down 2.5% from $2.8175 per lb on July 25. The contract reached $2.8315 per lb on July 31 before falling to $2.7375 pe...Read More
Key data from the Wednesday August 1 pricing session in Shanghai.Key drivers - Export market has been pressured by an escalating trade war between China and the United States after the latter pledged to raise the proposed tariff on $200 billion worth of Chinese goods to 25% from an initial 10%.- Chinese producers refused...Read More
Demand for flat steel in Turkey will remain moderate throughout August, but prices are not expected to fall because there is strong export demand, market participants told Metal Bulletin on Thursday August 2.Local producers have filled their order books until the end of September, and are planning to increase their prices for October bookings, despite weak local demand.Stock levels are not high in...Read More
Domestic long steel prices in EU markets are expected to remain around current high levels over the August holiday period, although mills could push through further price rises in September, market sources told Metal Bulletin this week."Customers are starting to go on holiday. We haven't heard new inquiries but we expect the [rebar] price to be maintained, and then perhaps to rise in September," a...Read More
In a statement released following the conclusion of this month’s FOMC meeting, the Fed announced that Fed funds would remain unchanged. “In view of realized and expected labor market conditions and inflation, the committee decided to maintain the target range for the federal funds rate at 1-3/4 to 2 percent.”However, they also signaled the need for further interest rate hikes. &l...Read More
(Kitco News) - Kinross Gold Corp. (TSX: K, NYSE: KGC) Wednesday reported a decline in its second-quarter adjusted profit as revenue fell along with the number of gold-equivalent ounces that were mined.Adjusted net earnings fell to $37.8 million, or 3 cents per share, compared with $54.9 million, or 4 cents, in the second quarter of 2017. Net earnings, including special items, were $2.4 million, or...Read More
Copper Trading – Buy Copper at CMP 418.20 for Target 420.50 – 421.50 with SL below price 415.90 Read More
Lindsay Dunsmuir, Pete SchroederWASHINGTON (Reuters) - If President Donald Trump’s comments that the Federal Reserve risked killing U.S. economic growth with higher interest rates was even discussed at a policy meeting that ended on Wednesday, there was no sign of it as the central bank indicated it would stick with its forecast of two more rate increases this year.The 273-word policy statem...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our market professional survey.Readers can al...Read More
(Kitco News) - Gold and silver prices are weaker in early-afternoon U.S. trading Wednesday. The metals and other markets showed little reaction to the just-released FOCM statement that showed no change in U.S. monetary policy. December gold futures were last down $4.30 an ounce at $1,229.40. September Comex silver was last down $0.089 at $15.47 an ounce.The FOMC meeting of the Federal Reserve that...Read More
(Kitco News) - The gold market is holding near session lows but is not seeing fresh selling pressure as the Federal Reserve leaves interest rates unchanged while keeping an optimistic tone on the U.S. economy and future interest rate hikes.In a highly anticipated move, the Federal Reserve left its Fed Funds rate in a range between 1.75% and 2%. On the economy, the central bank said that activity &...Read More
Today Lead Call – Buy Lead at CMP 146.10 Add more if price 145.50 for Target 147 – 147.90 with SL below price 144.80 Read More
TODAY LME INVENTORY STOCK REPORT : 01/08/2018Daily LME stock is as follows : Aluminium down by -1150MT, Copper down by -2475MT, Lead down by -100MT, Nickel down by -1782MT & Zinc down by -2000MT. Read More
Nickel Call – Buy Nickel at CMP 951.80 with SL below price 944 for Target 960 – 965 Read More
Today Copper – Copper BUY Call cc6 given at price 424.75 (425.50+424) hit SL at price 422.60. Total 2.15 Points per lot sl hitTIPS ID cc6 : Tips for Copper - Buy Copper Aug at CMP 425.50 Add more if price 424 with SL 422.60 for Target 429 - 430.50 Read More
Tips for Copper – Buy Copper Aug at CMP 425.50 Add more if price 424 with SL 422.60 for Target 429 – 430.50 Read More