Standard Chartered looks for gold weakness into next week’s meeting of the U.S. Federal Open Market Committee but also forecasts that any cycle lows in the price that will present a buying opportunity. Analysts note that gold regained $1,300 an ounce recently but has not been able to generate further upside momentum. “Investors appear to lack conviction in gold ahead of the June FOMC a...Read More
(Kitco News) - Gold and silver prices are trading near unchanged levels in early U.S. trading Friday. Selling interest in the safe-haven metals will be limited today, heading into the weekend and pending major geopolitical developments. August Comex gold futures were last up $0.30 an ounce at $1,303.50. July Comex silver was last up $0.015 at $16.83 an ounce. There is some uncertainty and even som...Read More
SHANGHAI, Jun 8 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index extended its decline overnight and closed at 93.44.LME aluminium dropped close to 2% while lead, nickel and tin rose some 1%. LME copper inched up and hit a fresh high in four and a half years as the worries lingered over supply from the Chile Escondida l...Read More
SHANGHAI, Jun 8 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index extended its decline overnight and closed at 93.44.LME aluminium dropped close to 2% while lead, nickel and tin rose some 1%. LME copper inched up and hit a fresh high in four and a half years as the worries lingered over supply from the Chile Escondida l...Read More
SHANGHAI, Jun 8 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index extended its decline overnight and closed at 93.44.LME aluminium dropped close to 2% while lead, nickel and tin rose some 1%. LME copper inched up and hit a fresh high in four and a half years as the worries lingered over supply from the Chile Escondida l...Read More
The latest news and price moves to start the Asian day on Friday June 8.Copper prices on the London Metal Exchange continued to drive higher at the close of trading on Thursday June 7, climbing by 1.5% to finish the day above $7,300 per tonne for the first time since January 2014. Read more in our live futures report. Here are how prices looked at the close of trading:The European Commission&...Read More
The latest news and price moves to start the Asian day on Friday June 8.Copper prices on the London Metal Exchange continued to drive higher at the close of trading on Thursday June 7, climbing by 1.5% to finish the day above $7,300 per tonne for the first time since January 2014. Read more in our live futures report. Here are how prices looked at the close of trading:The European Commission&...Read More
Base metals on the London Metal Exchange ended lower at the close of trading on Friday June 8, despite broad gains in copper, nickel and lead prices week on week. Bucking the trend, zinc was the only metal to trade in positive territory at the close of the afternoon kerb session, climbing 0.6% to close above $3,200 per tonne for the first time since April 24. Copper's three-month price was th...Read More
Comex copper prices inched higher in the US on Friday June 8, while concerns surrounding the highly anticipated Escondida negotiations drove the red metal's rally this week.Copper for July settlement on the Comex division of the New York Mercantile Exchange gained 1.8 cents or 0.55% to $3.293 per lb."LME copper has railed strongly, by 5%, so far this week, up 6%...Read More
China's crackdown on imports of lead waste products has sent ripples through the smelting industry there, with some companies pondering capacity cuts amid one of the tightest concentrate markets in years. Chinese customs publicly named Glencore at the end of May as attempting to import 16,000 tonnes of lead waste products labeled as concentrates originating in Germany, detaining two employees...Read More
An overview of the battery raw materials markets and their price moves from the past week. ...Read More
Key data from the pricing session in the week ending Friday June 8. China Prices rose in China's domestic ferro-chrome market due to environmental inspections cutting output in the country's major production hub of Inner Mongolia. The recovery in the domestic ferro-chrome market was reflected in...Read More
Recent spikes in the price of copper may not go very far, with supply trends showing a mixed picture, market analysts said on Friday June 8.While market watchers attribute price rises to concerns about the stability of supply, because of the wage negotiations at Escondida in Chile and a shutdown of Sterlite's smelter in southern India, the rising terms of copper concentrates treatment charges (TCs...Read More
Key data from the pricing session in the week ending Friday June 8. China Prices rose in China's domestic ferro-chrome market due to environmental inspections cutting output in the country's major production hub of Inner Mongolia. The recovery in the domestic ferro-chrome market was reflected in...Read More
China's crackdown on imports of lead waste products has sent ripples through the smelting industry there, with some companies pondering capacity cuts amid one of the tightest concentrate markets in years. Chinese customs publicly named Glencore at the end of May as attempting to import 16,000 tonnes of lead waste products labeled as concentrates originating in Germany, detaining two employees...Read More
Europe import prices and UK domestic prices for austenitic alloy steel scrap increased this week with nickel prices continuing to rise, reversing the losses seen last week, sources told Metal Bulletin on Friday June 8.Metal Bulletin's weekly price assessment for 18/8 stainless steel solids imported into mainland Europe was ?,?1,190-1,220 ($1,405-1,441) per tonne cif main European ports on Friday,...Read More
Turkish scrap import prices became firmer in the week ended Friday June 8 with demand for steel from the country's mills increasing because the United States imposed on other countries and regions the import tariffs threatened under its Section 232 trade legislation, thus leveling the international markets.This trend was in contrast to scrap prices elsewhere, however, with weak demand in India and...Read More
The UK light iron scrap market was stable over the past week for the ninth week in a row amid mixed reports of monthly delivery settlements to consumers in June, industry sources told Metal Bulletin on Friday June 8.The inter-merchant light iron scrap market will probably move in line with monthly delivery settlements that should be finalized next week, sources said. Some sources reported tha...Read More
Comex copper prices inched higher in the US on Friday June 8, while concerns surrounding the highly anticipated Escondida negotiations drove the red metal's rally this week.Copper for July settlement on the Comex division of the New York Mercantile Exchange gained 1.8 cents or 0.55% to $3.293 per lb."LME copper has railed strongly, by 5%, so far this week, up 6%...Read More
Three-month base metals prices on the London Metal Exchange consolidated on the morning of Friday June 8 amid concerns that the latest trade figures from China could stoke further trade tensions. This as world leaders gather in Canada for the 44th G7 Summit, where likely topics for discussion include global economic issues such as trade relations and tariffs.The three-month aluminium price on the...Read More