Key data from Metal Bulletin's Wednesday February 28 pricing session in China.Tungsten concentrates 65% WO3 in warehouse China RMB/tonne Key drivers- The tight supply of tungsten concentrates continued and may become more severe throughout March, with many miners halting production during the National Committee of the Chinese People's Political Consultative Conference and the National People's Con...Read More
Brazilian iron ore export volumes dropped by 7.58% year-on-year in February, according to figures released by national foreign trade ministry MDIC on Thursday March 1.Iron ore shipments came to 23.78 million tonnes, compared with 25.73 million tonnes a year before.Over the same period, export revenues declined by 14.28%, to $1.26 billion from $1.47 billion, due to lower iron...Read More
Iron ore prices recovered some losses on Thursday March 1 and returned above $79 per tonne though demand remained sluggish.Metal Bulletin's 62% Fe Iron Ore Index Today: $79.39 per tonne cfr Qingdao Daily change: up by $0.78 per tonne Month-to-date average: $79.39 per tonne Metal Bulletin's 58% Fe Premium Index Today: $62.05 per tonne cfr QingdaoDaily change: up by $0.43...Read More
Trading activity in the seaborne coking coal market remains thin, though some buyers are expecting prices to rise amid a paucity of Australian supply. A cargo of tier-two product was heard offered around $195-200 per tonne fob Australia while top-tier materials were said to be available at $240-250 per tonne cfr China. "It is definitely a sellers' market at this stage with very few seaborne cargoe...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. ...Read More
Trading activity remained lackluster in the physical iron ore market on Thursday March 1 despite a slight increase in prices.Key driversChina's steel and iron ore futures rose slightly from their values a day earlier, while spot rebar and hot-rolled coil prices performed better in comparison, increasing by 10-60 yuan ($1.60-9.50) per tonne.Iron ore prices - at Chinese ports and in the seaborne mar...Read More
Base metals on the London Metal Exchange were lower across the board during morning trading on Thursday March 1.A significant recovery in the dollar over the past few days has continued to curb investors' appetite for the base metals, and the dollar index hit its highest since January 18 overnight. The three-month copper price has plummeted back below $6,900 per tonne and hit a fresh two-and-a-hal...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday March 1*Copper -$69.77 (-443.42 yuan) Aluminium -$430.48 (-2,735.85 yuan) Zinc -$157.99 (-1,004.10 yuan) Nickel -$673.47 (-4,280.17 yuan) * Metal Bulletin calculates the...Read More
The latest metal markets news and price moves to start the North American day on Thursday March 1.Metals on the London Metal Exchange continued to slide on the back of a strengthening dollar, with the dollar index hitting its highest since January 18. The three-month copper contract fell below the $6,900 per tonne mark and a fresh two-and-a-half week low.Here is how the LME base metals complex loo...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
Key data from Wednesday February 28 pricing session in Shanghai.Gallium metal MB Chinese free market 99.99%, in-warehouse (RMB per kg) Key drivers- Demand surpasses supply, especially with the development of a high-speed 5G network in China- Market sentiment is very...Read More
The price of cobalt metal in China has played a quick game of catch-up with international prices following the Chinese New Year break (February 15-21), with a strong rally seen since the start of this week on increased speculative buying.China's cobalt metal price jumped to 620,000-650,000 yuan per tonne (equivalent to $38.03-39.8 per lb, ex-China value-added tax) on Wednesday March 1, up 2.4% fro...Read More
Base metals traded on the London Metal Exchange are for the most part consolidating after recent weakness, the exceptions are aluminium prices that are up by 0.7% at $2,147 per tonne and lead prices that are down by 0.5% at $2,490 per tonne. The rest are little changed, with copper prices recently quoted at $6,943 per tonne.Volume has been average with 8,708 lots traded as of 07.12 am London time....Read More
As competition in the global steel markets remains fierce, Metal Bulletin provides an update on the new, progressing and closed trade cases from around the world in February 2018.The case list below includes only updates. For other continuing cases this year, see the update for January.1.HDG.2.Stainless coil, sheet. 3.OCTG. 4.Welded pipe. 5.Cold-rolled, coated flat-rolled steel. Read More
Robust nickel prices and fewer firm offers pushed prices up in East Asia's stainless steel markets over the past week despite weak demand.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm cold-rolled coil was $2,250-2,330 per tonne cif East Asian ports for the week ended Wednesday February 28, widening upward by $10 per tonne from a week earlier.Metal Bulletin's assessment of p...Read More
* MoF flow data for week-ended Feb 24 - Tentative Japan moves intofor-bonds. * Bargain-hunting by some as JPY strengthened, offshore bond prices fell. * Net Y201.3 bln foreign bonds bought against Y512.6 bln sales previousweek. * January saw Japanese buy a net Y1.3887 trln in foreign bonds. * Volume as of late in foreign bonds off, some await stronger JPY, @105.00. * Japanese also bought net Y45 b...Read More
Yesterday’s testimony by Jerome Powell, the recently appointed chairman of the Federal Reserve, significantly underlined the fact that we are now deeply immersed in a period of quantitative normalization.In response to the economic meltdown and the recession that resulted from bank failures, an outcome of their lending practices, starting in 2008 the Federal Reserve initiated a systematic ap...Read More
(Kitco News) - In its continued attempted to promote innovation in the mining Sector, Goldcorp is giving four companies the opportunity to present their ideas to #disruptmining and win $1 million in potential investment capital.Luis Canepari, vice-president of technology at Goldcorp (NYSE: GG, TSX: G,) said the company went through hundreds of submissions to find the best of the best in innovation...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
SHANGHAI, Feb 28 (SMM) - China’s official manufacturing purchasing managers’ index (PMI) stood at 50.3 in February, down from 51.3 in January, according to data released by the National Bureau of Statistics on Wednesday February 28. The country’s non-manufacturing PMI this month stood at 54.4, down from 55.3 in January. For editorial queries, please contact Daisy Tseng...Read More