Last week gold popped from the $1,240 level as it looked like the bottoms had been put in. The rally from the lows continued through Monday, trading as high as $1,267. After peaking at 8 a.m. EDT Monday, gold managed to drift lower most of the day, losing most of its gains. This morning gold is down $11 and appears headed back to the $1,240 level and possibly lower. Unfortunately, the metals marke...Read More
Kirkland Lake Gold Ltd. (TSX, NYSE: KL; ASX: KLA) lists second-quarter gold output of 164,685 ounces, up from 160,305 ounces in the second quarter of 2017 and 147,644 ounces in the first quarter of this year. The company says the tally exceeded target levels due to record quarterly production from Macassa of 60,571 ounces and record monthly production in June at Fosterville of 31,710 ounces. The c...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
(Updates prices, headline; adds comment, second byline, NEWYORK to dateline) By Renita D. Young and Eric Onstad NEW YORK/LONDON, July 10 (Reuters) - Gold prices fell onTuesday, weighed down by a stronger U.S. dollar, and may re-testa seven-month low after a failed attempt to break higher in theprevious session. Spot gold was down 0.2 percent at $1,255.09 an ounceby 1:33 p.m. EDT (1733 GMT), after...Read More
The latest news and price moves to start the Asian day on Tuesday July 10.Base metals prices on the London Metal Exchange made a notable recovery from recent lulls at the close of trading on Monday July 9, with only zinc and lead finishing lower. Read more in our live futures report.Here are how prices looked at the close of trading:The Federation of Copper Workers in Chile has rejected copper pro...Read More
The latest news and price moves to start the Asian day on Tuesday July 10.Base metals prices on the London Metal Exchange made a notable recovery from recent lulls at the close of trading on Monday July 9, with only zinc and lead finishing lower. Read more in our live futures report.Here are how prices looked at the close of trading:The Federation of Copper Workers in Chile has rejected copper pro...Read More
Base metals prices on the London Metal Exchange were mostly down during morning trading on Tuesday July 10, led by a significant drop in zinc prices, while ongoing uncertainty around Sino-US trade relations hampers the complex.Falling more than 3% over the morning, zinc prices are trading at their lowest point since June 2017 as the metal continues to struggle against a tight fundamental backdrop....Read More
Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Tuesday July 10 with most of the complex oscillating either side of unchanged, while zinc was the early session's weakest performer with a drop of 1.7%.The most-traded August zinc contract fell to 21,820 yuan ($3,295) per tonne as at 10.23am Shanghai time, a drop of 385 yuan per tonne or 1.7% from Monday...Read More
Michael Lillja will leave his position as head of marketing at Finnish speciality alloys company Afarak on September 1.He will start a new position within the steel and alloys sector on September 3."It has...Read More
Global ferro-vanadium and vanadium pentoxide (V2O5) prices experienced considerable gains over the past week, taking their cue from strength in the Chinese domestic market. Chinese ferro-vanadium, V2O5 export prices rise in response to strength in domestic market European ferro-vanadium prices strengthen in line with Chinese market European V2O5 prices surge on supply concerns US FeV market conti...Read More
Global ferro-vanadium and vanadium pentoxide (V2O5) prices experienced considerable gains over the past week, taking their cue from strength in the Chinese domestic market. Chinese ferro-vanadium, V2O5 export prices rise in response to strength in domestic market European ferro-vanadium prices strengthen in line with Chinese market European V2O5 prices surge on supply concerns US FeV market conti...Read More
Antimony prices were stable in Europe over the past week, while prices in China moved down slightly amid continued sluggish demand. Prices for antimony with bismuth content below 100ppm or trioxide-grade in-warehouse Rotterdam stood at $7,900-8,150 per tonne on Friday, unchanged from the mid-week assessment when prices had remained stable."I've been trying to get offers below the Metal Bulletin lo...Read More
Turkish steel producers have resumed their deep-sea purchases of scrap for delivery in August following a downturn in prices, sources said on Tuesday July 10.Four deep-sea cargoes were heard traded on Tuesday, three of which were sold out of the United States, Metal Bulletin was told.A steel mill in the Izmir region booked a US cargo, comprising 32,000 tonnes of HMS 1&2 (80:20) at $348 per tonne,...Read More
Comex copper prices slipped in morning trading on Tuesday July 10, with the threat of further tit-for-tat tariffs between the United States and China exacerbating concerns about demand for metals.Copper for September settlement on the Comex division of the New York Mercantile Exchange fell 1.3 cents or 0.5% to trade recently at $2.8370 per lb. Continued uncertainty surrounding trade relations...Read More
Brazilian domestic prices for hot-rolled coil (HRC) and hot-dipped galvanized coil (HDG) have increased only marginally in July, with local producers struggling to apply previously announced price increases.Flat steel companies in the country have been trying to raise prices since early June, but strong competition is getting in the way of the adjustment."The market got messy [and] each client is...Read More
Import prices for some flat steel products in the United Arab Emirates and Saudi Arabia decreased this week because of lower offer and deal prices, sources told Metal Bulletin on Tuesday July 10.There is a liquidity shortage among some contractors, who are not receiving payments on time, sources said, while the seasonal slowdown continues.UAEMetal Bulletin's weekly price assessment for UAE imports...Read More
China's domestic hot-rolled coil prices continued to rise on Tuesday July 10 on supply concerns in the country's steelmaking hub of Tangshan in the northern region.DomesticEastern China (Shanghai): 4,230-4,250 yuan ($639-642) per tonne, up 30 yuan per tonneNorthern China (Tianjin): 4,110-4,120 yuan per tonne, narrowing upward 10 yuan per tonneHRC prices rose following the circulation of a document...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebarOman, export, rebar, offered at $615-620 per tonne cfr, theoretical weight,...Read More
India's JSW Steel increased its crude steel production by 5% in April-June this year, producing 4.11 million tonnes, up from3.91 million tonnes in the same period in 2017.The company also produced 2.87 million tonnes of flat rolled products in the second quarter - which is the company's fiscal first quarter for 2018-2019 - a 4% year-on-year increase compared with the same quarter in 2017...Read More
The global pig iron market was quiet in June with purchasing activity being low in the United States, where buyers booked large volumes in May."When the largest consumer postpones bookings, it brings uncertainty to the market," one trader told Metal Bulletin. "Everyone waits until the trend-setter shows where the market will turn."United StatesBuyers in the US consume more than 50% of the pig iron...Read More