LONDON, July 2 (Reuters) - Copper prices hit three-month lows on Monday as the market priced in weaker demand in top consumer China, which is embroiled in the trade spat with the United States even as its manufacturing sector slows.Benchmark copper traded down 0.5 percent at $6,590 a tonne in official rings from an earlier $6,550 a tonne, its lowest since March 26. Prices of the metal used widely...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-terma charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tre...Read More
World manganese ore supply rose 2% year on year in May and was stable compared with April, according to the latest data from the International Manganese Institute (IMnI).May supply totaled 1.66 million tonnes dry metric tonnes. World demand in May rose 2.6% year on year and 12.9% compared with April to 1.62 million tonnes.Supply...Read More
Prices declined in most regions last week on weak market sentiment after a slump in the Chinese billet market early last week and mills from the CIS region reduced offers to get new bookings. China Billet prices in China's northern Tangshan region dropped by 70 yuan per tonne last week, quoted at 3,600 yuan ($543) per tonne on Friday June 29. Most of the decrease occurred over the weekend and on M...Read More
World manganese ore supply rose 2% year on year in May and was stable compared with April, according to the latest data from the International Manganese Institute (IMnI).May supply totaled 1.66 million tonnes dry metric tonnes. World demand in May rose 2.6% year on year and 12.9% compared with April to 1.62 million tonnes.Supply...Read More
Prices declined in most regions last week on weak market sentiment after a slump in the Chinese billet market early last week and mills from the CIS region reduced offers to get new bookings. China Billet prices in China's northern Tangshan region dropped by 70 yuan per tonne last week, quoted at 3,600 yuan ($543) per tonne on Friday June 29. Most of the decrease occurred over the weekend and on M...Read More
Nickel prices on the London Metal Exchange fell over 2% by the close of trading on Monday July 2, topping broad losses across the complex while escalating trade tensions and dwindling equity markets weigh on commodities.Reaching a high of $14,940 per tonne over the day, nickel's three-month price fell sharply during afternoon trading, drifting back to the $14,500 per tonne region. "If Chinese...Read More
Blister copper refining charges (RC) terms in China increased in June due to higher availability of overseas materials, which offset part of the capacity lost in the production halt while inspections took place over the month.The monthly blister copper 98-99% spot cif China RC rose to $215-235 per tonne, with a sale of several thousand tonnes reported at the higher end of the range and offers comi...Read More
Comex copper prices softened for the fourth consecutive day on July 2 morning in the US, with a stronger dollar keeping base metals pressured.Copper for September settlement on the Comex division of the New York Mercantile Exchange dipped 2.10 cents or 0.7% to $2.9450 per lb. The red metal is being pressured by threats of a global trade war due to increasing tariffs. New reports of president....Read More
BP plc is to buy Chargemaster, the UK's largest charging company for electric vehicles (EVs), in the latest move by oil and gas companies to tap into the electromobility revolution.Along with peers such as Royal Dutch-Shell and Total, oil conglomerate BP has been making relatively small but significant investments into the infrastructure required for charging EVs, and not just as a contributor to...Read More
Key takeaways from Industrial Minerals tenth Lithium Supply & Markets Conference, which took place in Las Vegas on June 26-28.Battery makers and new energy vehicle (NEV) manufacturers seek lower lithium prices, multi-year commitmentsThe world's largest consumers of lithium compounds, such as battery makers and NEV manufacturers, want lower and stable lithium prices. After the shortening of contrac...Read More
Blister copper refining charges (RC) terms in China increased in June due to higher availability of overseas materials, which offset part of the capacity lost in the production halt while inspections took place over the month.The monthly blister copper 98-99% spot cif China RC rose to $215-235 per tonne, with a sale of several thousand tonnes reported at the higher end of the range and offers comi...Read More
Key data from the pricing session in the week ended Friday June 29. China Chinese stainless steel mills released higher tender prices for July. Prolonged ferro-chrome smelter shutdowns have continued to tighten the market and boost prices. Imported UG2 chrome ore prices dropped due...Read More
Prices for both low-grade and high-grade cobalt tipped below $40 per lb in the week ended Friday June 29, with sellers facing continued weak demand and competition for business.Low-grade and high-grade cobalt prices were assessed on Friday at $39.70-41.00 per lb, in-warehouse, down from $40.35-41.25 per lb at the start of the week."[The market is] dead in terms of people actually booking [material...Read More
The global downtrend in antimony prices continued last week amid weakening demand.In Europe, prices for antimony with bismuth content below 100ppm or trioxide-grade in-warehouse Rotterdam moved down to $7,900-8,150 per tonne on Friday June 29 from the mid-week assessment of $8,000-8,250 per tonne.The MMTA standard grade II antimony in-warehouse Rotterdam price was stable at $7,900-8,150 per tonne...Read More
Blister copper refining charges (RC) terms in China increased in June due to higher availability of overseas materials, which offset part of the capacity lost in the production halt while inspections took place over the month.The monthly blister copper 98-99% spot cif China RC rose to $215-235 per tonne, with a sale of several thousand tonnes reported at the higher end of the range and offers comi...Read More
Turkish steel producers extended their silence in the deep-sea scrap markets on Monday July 2, but are expected to resume buying soon for August deliveries.However, the producers are waiting to see the level of demand for finished steel products before buying more scrap, according to market participants."Turkish mills ended their July bookings and will probably wait for a while to see the...Read More
Turkish domestic scrap prices have remained largely stable over the past week, with demand for material being moderate, sources said on Monday July 2.Only one steel mill changed its buy price for auto bundle scrap over the past week, while the rest kept their prices unchanged.Long steel producer ID??, in the Izmir region, increased its buy price for auto bundle scrap by TRY10 per tonne to TRY1,520...Read More
Comex copper prices softened for the fourth consecutive day on July 2 morning in the US, with a stronger dollar keeping base metals pressured.Copper for September settlement on the Comex division of the New York Mercantile Exchange dipped 2.10 cents or 0.7% to $2.9450 per lb. The red metal is being pressured by threats of a global trade war due to increasing tariffs. New reports of president....Read More
Prices for both low-grade and high-grade cobalt tipped below $40 per lb in the week ended Friday June 29, with sellers facing continued weak demand and competition for business.Low-grade and high-grade cobalt prices were assessed on Friday at $39.70-41.00 per lb, in-warehouse, down from $40.35-41.25 per lb at the start of the week."[The market is] dead in terms of people actually booking [material...Read More