Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday February 27*Copper -$74.05 (-468.17 yuan) Aluminium -$442.25 (-2,796.06 yuan) Zinc -$165.51 (-1,046.38 yuan) Nickel -$598.95 (-3,786.72 yuan) * Metal Bulletin calculates the...Read More
Ferroglobe plc reported improved revenues for the fourth quarter and fiscal year 2017, which the company attributed to higher prices for silicon metal. London-based Ferroglobe reported revenue of $468.2 million in the fourth quarter, up 3.7% from $451.6 million in the third quarter. Meanwhile, revenue for the year 2017 was $1.7 billion, up 10.5% from $1.6 billion the previous year. The ferro-alloy...Read More
Cobalt prices made further gains last week, but the rally was kept in check by buyers able to satisfy some of their requirements by purchasing scrap and pulling forward contracted volumes. Metal Bulletin's benchmark price assessment for low-grade cobalt was $38.50-39.30 per lb, in-warehouse, on Friday February 23, up from $38.15-39.30 per lb midweek, and $38-39.30 a week earlier. High-gr...Read More
Base metals traded on the London Metal Exchange are up across the board by an average of 0.4% this morning, Tuesday February 27.Aluminium prices lead the way with a gain of 0.7%, while the rest are up between 0.1% for zinc and 0.4% for tin, with copper prices up by 0.3% at $7,136 per tonne. Volume has been average with 6,677 lots traded as of 07.12 am London time. This follows a day of general str...Read More
Import prices for steel billet in Southeast Asia edged up over the past week while those for slab in the wider region including East Asia experienced sharp gains amid limited offers.Metal Bulletin's assessment of import prices for billet in Southeast Asia was $540-555 per tonne cfr for the week ended Monday February 26, up $5 per tonne from a week earlier.Prices increased after trading activity pi...Read More
Handan, a major steel-producing city in north China's Hebei province, will step up its steelmaking curbs by cutting production by 50-55% until the end of March, according to an official notice from its local government late on Monday February 26. The city, which is among 28 in the country's northern region that are limiting production at 50% of capacity during the winter heating season, which ends...Read More
In the assumption that one of the three recommendations by the DOC (Dept. of Commerce) is adopted and unlike section 201 made permanent, US producer prices (FOB Midwest mill) are unlikely to fall in the short term but the degree of gains could be quite different.In this article we examine "option 3" - a quota regime, which restricts foreign steel to 63% of the 2017 total. In this scenario the pric...Read More
Handan, a major steel-producing city in north China's Hebei province, will step up its steelmaking curbs by cutting production by 50-55% until the end of March, according to an official notice from its local government late on Monday February 26. The city, which is among 28 in the country's northern region that are limiting production at 50% of capacity during the winter heating season, which ends...Read More
In the assumption that one of the three recommendations by the DOC (Dept. of Commerce) is adopted and unlike section 201 made permanent, US producer prices (FOB Midwest mill) are unlikely to fall in the short term but the degree of gains could be quite different.In this article we examine "option 3" - a quota regime, which restricts foreign steel to 63% of the 2017 total. In this scenario the pric...Read More
In the assumption that one of the three recommendations by the DOC (Dept. of Commerce) is adopted and unlike section 201 made permanent, US producer prices (FOB Midwest mill) are unlikely to fall in the short term but the degree of gains could be quite different.In this article we examine "option 3" - a quota regime, which restricts foreign steel to 63% of the 2017 total. In this scenario the pric...Read More
In the assumption that one of the three recommendations by the DOC (Dept. of Commerce) is adopted and unlike section 201 made permanent, US producer prices (FOB Midwest mill) are unlikely to fall in the short term but the degree of gains could be quite different.In this article we examine "option 3" - a quota regime, which restricts foreign steel to 63% of the 2017 total. In this scenario the pric...Read More
In the assumption that one of the three recommendations by the DOC (Dept. of Commerce) is adopted and unlike section 201 made permanent, US producer prices (FOB Midwest mill) are unlikely to fall in the short term but the degree of gains could be quite different.In this article we examine "option 3" - a quota regime, which restricts foreign steel to 63% of the 2017 total. In this scenario the pric...Read More
In the assumption that one of the three recommendations by the DOC (Dept. of Commerce) is adopted and unlike section 201 made permanent, US producer prices (FOB Midwest mill) are unlikely to fall in the short term but the degree of gains could be quite different.In this article we examine "option 3" - a quota regime, which restricts foreign steel to 63% of the 2017 total. In this scenario the pric...Read More
In the assumption that one of the three recommendations by the DOC (Dept. of Commerce) is adopted and unlike section 201 made permanent, US producer prices (FOB Midwest mill) are unlikely to fall in the short term but the degree of gains could be quite different.In this article we examine "option 3" - a quota regime, which restricts foreign steel to 63% of the 2017 total. In this scenario the pric...Read More
(Widens distribution)MELBOURNE, Feb 27 (Reuters) - Miners in northwest Papua New Guinea reported some damage to infrastructure following a powerful magnitude 7.5 earthquake on the weekend, as projects in the resource-rich region assess the impact on their operations.Barrick Gold Corp said a power station that supplies its Porgera gold mine had been damaged, while Ok Tedi Mining Ltd said a landsli...Read More
(Corrects time of quake to early Monday, paragraphs 1, 3; fixes typographical error, paragraph 4)MELBOURNE, Feb 27 (Reuters) - Miners in northwest Papua New Guinea reported some damage to infrastructure following a powerful magnitude 7.5 earthquake that hit on Monday, as projects in the resource-rich region assess the impact on their operations.Barrick Gold Corp said a power station that supplies...Read More
Although trading well off of highs achieved earlier in the trading session, gold is moderately higher as traders await Jerome Powell’s first testimony to the House and Senate committees this week.As of 3:45 PM Eastern standard time, gold futures (April Comex contract) are trading up $4.50 (+0.34%) at $1,334 80. Gold traded to $1,342.90 overseas last night but has softened as a strong risk-on...Read More
(Kitco News) - Gold investors should not be disappointed this year, as the yellow metal is doing exactly what it is supposed to, which is to serve as a portfolio hedge, said BlackRock’s investment strategist.“Gold as a portfolio hedge and as hedge in terms of signs of stress is doing exactly as advertised. It's delivering that diversification benefit, and it has done that, especially t...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
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