Seaborne iron ore prices recovered some losses on Wednesday March 21 tracking a small rebound in the paper market.Key drivers China's benchmark May iron ore futures contract bounced back in the afternoon to end the day in positive territory, following gains on Tuesday night and a retreat on Wednesday morning.But steel prices - in the both physical and futures markets - continued to soften during t...Read More
Seaborne coking coal prices retreated on Wednesday March 21, with market participants anticipating further weakness amid ample offers of premium products.Two cargoes of premium products changed hands below previously transacted levels during the day. The cargoes "unbranded products" were traded at $204 per tonne fob Australia and $207 per tonne fob Australia on Global Coal, sources told Metal Bull...Read More
China's ferrous futures, particularly the steel contract, continued to fall during morning trading on Wednesday March 21, with physical prices coming under pressure in recent days. Futures closing prices - morning sessionShanghai Futures Exchange May rebar: 3,626 yuan ($573) per tonne, down 50 yuan per tonne May hot-rolled coil: 3,738 yuan per tonne, down 101 yuan per tonne Dalian Commodity Exchan...Read More
Key data from the Wednesday March 21 pricing session in London.Cadmium min 99.95% MB free market Cts per lb cif global main port New price Previous price Change to midpoint of range Midpoint % change 150-160 145-160 2.5 1.6% Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Metal Bulletin UK non-ferrous scrap and foundry ingot prices changed on Wednesday March 21:Aluminium scrap Group 1 pure 99% & litho: ?1,400-1,450 per tonne from ?1,410-1,460 Commercial...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
While the programming behind algorithmic trading is still in relative infancy, these computerized systems are more likely to increase volatility in metals trading than reduce it, Lord Copper muses. A few weeks ago, fellow Metal Bulletin columnist Martin Hayes wrote about the dramatic fall in the prices of financial assets since the turn of the year. Stock markets across the world have given b...Read More
COPPER TARGET TIPS TODAYCopper Target Tips – Copper Intraday Sell call 1be given at price 447.30 Achieved 1st Target 442 & 2nd Target 440. (Made low 439.90 at 07:52pm) Total profit of 7.30 Points per lotTIPS ID 1be : Tips for Copper - SELL Copper at CMP 447.30 for Target 442 - 440 with SL Above price level 450.10AFTER POST CONTENT Read More
Zinc Intraday Calls – Zinc Commodity SELL Call 1bc given at price 212.20 Achieved 1st Target 210.60 & 2nd Target 210. CMP 210. Total Profit of 2.2 Points x 2 lot = 4.40 PointsTIPS ID 1bc : Tips for Zinc - SELL Zinc at CMP 212.20 for Target 210.60 - 210.0 with SL Above price level 213.30. RISK Taker trade 2 lotsAFTER POST CONTENT Read More
Gold is trading under pressure today, currently trading off by $7.80 and fixed at $1,310. As of 4:51 PM Eastern standard time, gold prices have given up all of yesterday’s gains and closed at below yesterday’s open.However, yesterday’s gains, as well as today’s selloff, have been a direct result of dollar strength and dollar weakness.Monday's moderate gains resulted in a $2...Read More
BUENOS AIRES (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Tuesday that U.S. tariff actions are “not about protectionism” but about defending American interests against unfair trade practices.Mnuchin told a news conference at the end of a trade-dominated meeting of G20 finance ministers and central bank governors here that President Donald Trump was not afraid of a trade w...Read More
(Kitco News) - Gold and silver prices were moderately lower in early afternoon U.S. trading Tuesday, pressured by a stronger U.S. dollar index on this day and some chart-based selling. Gold hit a three-week low, while silver prices notched a three-month low. April Comex gold futures were last down $7.10 an ounce at $1,310.70. May Comex silver was last down $0.165 at $16.16 an ounce.The marketplace...Read More
TIPS FOR COPPER TODAYTips for Copper – SELL Copper at CMP 447.30 for Target 442 – 440 with SL Above price level 450.10AFTER POST CONTENT Read More
Tips for Zinc – SELL Zinc at CMP 212.20 for Target 210.60 – 210.0 with SL Above price level 213.30. RISK Taker trade 2 lotsAFTER POST CONTENT Read More
Gold is on the defensive as traders await the outcome of a two-day meeting of the Federal Open Market Committee that is expected to result in a 25-basis-point U.S. interest-rate hike, says George Gero, managing director with RBC Wealth Management. As of 10:01 a.m. EDT, Comex April gold was down $9.10 to $1,308.70 an ounce. “Gold sellers return as Fed meeting [begins] and rate hike is apparen...Read More
(Kitco News) - Holdings of gold by global exchange-traded funds have risen to a multi-year high, even if the price of the metal has gone the other way lately.Comex April gold was trading at $1,310 an ounce as of 8:30 a.m. EDT. The metal closed at $1,325 last Wednesday, before three straight days of large ETF inflows.Analysts suggested the price dip has encouraged buying of gold ETFs, as has nervou...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
On Monday, the equity markets were under heavy pressure early, as was the dollar. And where were the metals? They were only slightly higher. Metals continue to be asleep with no energy. With Monday's fear in equities and a weak dollar, gold could only muster a small rally. With equities down almost 500 points and the euro currency up big and gold on support, the rally was disappointing. With equit...Read More
Base metals prices on the London Metal Exchange closed lower across the board on Tuesday March 20, with copper falling to a new 2018-low. The three-month copper price closed 1.4% lower and hit a low of $6,730 per tonne earlier in the day - the lowest since December 14, 2017. "This comes amid broad-based downward pressure across the industrial metals, chiefly owing to a weaker global risk appetite...Read More