The European Steel Association, Eurofer, has welcomed the European Commission's pledge of "appropriate and swift measures" after the United States finally announced Section 232 trade tariffs.US president Donald Trump announced the imposition of import duties of 25% on steel and 10% aluminium on March 1. "We welcome the [EC] announcement [that] appropriate and swift measures will be taken...Read More
TOKYO, March 2 (Reuters) - Toyota Motor Corp saidon Friday U.S. tariffs on imported steel and aluminum wouldsubstantially raise costs and therefore prices of cars andtrucks sold in America. "The (U.S.) Administration's decision to impose substantialsteel and aluminum tariffs will adversely impact automakers, theautomotive supplier community and consumers," the automaker toldReuters. Toyo...Read More
WASHINGTON, March 1 (Reuters) - The U.S. Commerce Departmentsaid on Thursday it made a final antidumping and countervailingduty determination to impose duties on imports of silicon metalfrom Australia, Brazil, Norway and Kazakhstan. The department said it imposed antidumping duties of 41.73percent to 51.28 percent for imports from Australia, 68.97percent to 134.92 percent for imports from Brazil,...Read More
(Updates with comment from chief Canadian negotiator) By David Ljunggren and Dave Graham MEXICO CITY, March 1 (Reuters) - Negotiators trying torework the NAFTA trade deal on Thursday were hit by the prospectof conflict over U.S. steel tariffs that could complicatecarmaking in North America, one of the most sensitive issues atthe talks. U.S. President Donald Trump said he would impose the tariffsbe...Read More
Gold futures started off the day trading under enormous pressure overseas, which continued during the morning trading session in New York. These depressed prices were in tandem with falling stock prices here in the United States.In trading today, gold futures (April 2018 Comex contract) sank to $1,303.60 before staging an impressive recovery. As of 3:40 PM Eastern standard time, gold is currently...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...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
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
The latest news and price moves to start the Asian day on Thursday March 1.Base metals prices on the London Metal Exchange fell across the board at the close on Wednesday February 28, with the complex under pressure from the resurgent dollar, which hit its highest level since January 19. Read more in our live futures report.Here are how LME prices looked at Wednesday's close:Metal Bulletin has lea...Read More
The latest news and price moves to start the Asian day on Thursday March 1.Base metals prices on the London Metal Exchange fell across the board at the close on Wednesday February 28, with the complex under pressure from the resurgent dollar, which hit its highest level since January 19. Read more in our live futures report.Here are how LME prices looked at Wednesday's close:Metal Bulletin has lea...Read More
Noranda is seeking to ship its bauxite directly from Jamaica instead of transferring it from Panamax into Capesize vessels in Trinidad, a move that will shave several dollars off the cost of transportation, a senior Noranda Bauxite and Alumina executive said at Metal Bulletin's Bauxite & Alumina conference in Jamaica. According to Chris Young, vice president of sales and marketing, it costs around...Read More
The London Metal Exchange will introduce a financial over-the-counter (OTC) booking fee, which will be payable from June 1, the exchange said on Thursday March 1. Following a consultation period with the market, the exchange announced on Thursday that it will set a OTC booking fee of $1 per equivalent LME lot which will be paid by financial institutions for each OTC trade executed in place of an L...Read More
Nickel stocks in the Shanghai-bonded zone surged in February due to the enlarged negative arbitrage between London Metal Exchange prices and the Chinese domestic market, while higher zinc stocks were attributed to sufficient domestic supply and soft demand in the China market. In February 2018, Shanghai-bonded nickel stocks increased by 69.8% month on month, after the sustained negative arbitrage...Read More
Chilean lithium producer SQM's share prices have gone down by 13% in less than a week to stand at $50.71 at the close of the market on Wednesday February 28, compared with $58.32 on February 23.Investors' fears of oversupply in the lithium market were triggered on February 26 with the release by investment bank Morgan Stanley of research suggesting that the price of lithium could fall by 45% by 20...Read More
Ferro-alloys trader Naja Nedergaard has joined the ferro-alloys department of ThyssenKrupp Raw Materials, the company told Metal Bulletin on Thursday March 1.Nedergaard formerly worked in the ferro-niobium department of China...Read More
Noranda is seeking to ship its bauxite directly from Jamaica instead of transferring it from Panamax into Capesize vessels in Trinidad, a move that will shave several dollars off the cost of transportation, a senior Noranda Bauxite and Alumina executive said at Metal Bulletin's Bauxite & Alumina conference in Jamaica. According to Chris Young, vice president of sales and marketing, it costs around...Read More
Oyu Tolgoi, one of the world's largest copper-gold-silver mines, has lifted its one-and-a-half-month long force majeure on concentrates delivery with effect from March 1, operator Turquoise Hill said on Wednesday February 28. The Vancouver-based company, majority-owned by Rio Tinto, is confident that any force majeure-related sales impact will be "made up over the next few quarters," according to...Read More
Codelco's commercial vice president, Rodrigo Toro, and the general manager of its Salvador division, Juan Carlos Avenda??o, are leaving the company, the Chilean copper miner said late on Wednesday February 28.Toro will leave Codelco on April 1 and will be replaced by Roberto Ecclefield, who is currently in charge of sales for the company's...Read More
Turkish steel producers have continued to book deep-sea scrap for April while the prices were still rising, sources said on Thursday March 1.A steel mill in the Iskenderun region booked a Canadian cargo, comprising 30,000 tonnes of HMS 1&2 (90:10), 10,000 tonnes of shredded and 10,000 tonnes of plate and structural scrap (P&S) at an average price of $372...Read More
Oyu Tolgoi, one of the world's largest copper-gold-silver mines, has lifted its one-and-a-half-month long force majeure on concentrates delivery with effect from March 1, operator Turquoise Hill said on Wednesday February 28. The Vancouver-based company, majority-owned by Rio Tinto, is confident that any force majeure-related sales impact will be "made up over the next few quarters," according to...Read More