UK ferrous scrap prices for monthly deliveries to consumers in February have settled with decreases of around ?20-25 per tonne compared with January's settlements, trade sources told Metal Bulletin this week.One main factor in settling February contracts was the steady drop in the scrap import price into Turkey, a key export market for British steel scrap, sources said.Turkish buyers shied away f...Read More
Iron ore prices jumped past $77 per tonne cfr China on Tuesday February 13 following gains in the paper market. Metal Bulletin's 62% Fe Iron Ore Index Today: $77.36 per tonne cfr Qingdao Daily change: up by $1.12 per tonne Month-to-date average: $75.94 per tonne Metal Bulletin's...Read More
Physical iron ore trading continued to slow down on Tuesday February 13, ahead of the Chinese New Year holiday, despite gains in the paper markets.Key driversChina's ferrous futures prices advanced across the board, with the benchmark iron ore contract outperforming other products, rising by 1.3% from the preceding day's settlement.Very limited iron ore trading activity was reported in the seaborn...Read More
There was little movement in the seaborne coking coal spot market on Tuesday February 13 with most buyers in China already away for the Chinese New Year holiday."Coking coal prices will not be able to drop after the Chinese New Year because they are supported by the optimistic sentiment in the downstream sector. Coke prices have also bottomed out," a coke plant source in Tangshan said. "There are...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. Latest transaction: iron oreIron oreRio Tinto,...Read More
Ferrous scrap export volumes from Japan fell by 9% year on year to 767,157 tonnes in December, according to the country's Ministry of Finance.Its yearly export volumes totaled 8.22 million tonnes in 2017, a decline of 6% from the prior year.On a regional basis, Japan's ferrous scrap exports to South Korea increased by 28% year on year in December.The country exported 398,228 tonnes of ferrous scra...Read More
Domestic coking coal prices in China rose in the beginning of February amid tighter supply of premium products and higher demand for thermal coal in the country. Metal Bulletin's assessment of domestic prices for hard coking coal in Shanxi delivered to Tangshan was 1,570-1,950 yuan ($248-309) per tonne for the week to Friday February 9, up 75-100 yuan per tonne compared with a month earlier. Offer...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday February 13* Copper -$72.96 (-463.21 yuan) Aluminium -$453.29 (-2877.91 yuan) Zinc -$126.22 (-801.37 yuan) Nickel -$389.03 (-2527.07 yuan) *The physical arbitrage numbers...Read More
Aluminium prices on the London Metal Exchange have retreated from early morning highs after a significant delivery into LME-listed warehouses in Asia caused on-warrant stock to surge by 18%. The three-month price was trading at a high of $2,151 per tonne - a $27 per tonne increase compared to Monday's close price - before warehouse stock data was released at 9am UK time. Some 166,225 tonnes were d...Read More
Base metals on the London Metal Exchange are recovering again this morning, Tuesday February 13, with prices up by an average of 0.7%. Copper ($6,924 per tonne) and nickel lead the way with gains of 0.9%, while lead is the laggard with a 0.3% increase.Volume has been average with 8,757 lots traded as of 07.07 am London time, although half of that has been in copper. This follows gains on Monday fo...Read More
The Indian government is to impose a 20% export duty on graphite electrodes from April 1, according to the International Rebar Producers & Exporters Association (Irepas).The Indian government has included a provision to change customs tariffs for certain products including electrodes in its 2018 finance bill, which is currently being debated and is expected to be put to a vote for approval by the...Read More
The Indian government is to impose a 20% export duty on graphite electrodes from April 1, according to the International Rebar Producers & Exporters Association (Irepas).The Indian government has included a provision to change customs tariffs for certain products including electrodes in its 2018 finance bill, which is currently being debated and is expected to be put to a vote for approval by the...Read More
The Indian government is to impose a 20% export duty on graphite electrodes from April 1, according to the International Rebar Producers & Exporters Association (Irepas).The Indian government has included a provision to change customs tariffs for certain products including electrodes in its 2018 finance bill, which is currently being debated and is expected to be put to a vote for approval by the...Read More
MELBOURNE, Feb 13 (Reuters) - S&P on Wednesday raised its long-term issuer credit rating on global miner Rio Tinto to 'A' from 'A-' on the back of the miner's strong financial results and said the rating outlook is stable."The upgrade reflects Rio Tinto's journey of strengthening its balance sheet and living by its financial policy for the past two years," S&P said. (Reporting b...Read More
The Prospectors & Developers Association of Canada (PDAC) is best known for its annual convention, bringing together prospectors, developers, geoscientists, consultants, and mining executives, among others. Considered the mammoth of all mining conferences, this annual event attracts more than 24,000 attendees from more than 130 countries. The four-day annual convention held yearly in Toronto,...Read More
(Adds background, Ohio senators' statement)WASHINGTON, Feb 12 (Reuters) - U.S. President Donald Trump will meet with a bipartisan group of lawmakers on Tuesday to discuss trade matters, as he ponders whether to takes steps to limit steel and aluminum imports seen as damaging to U.S. businesses.A month ago the Commerce Department handed Trump the results of its investigation into steel and aluminu...Read More
Gold stages an impressive recovery today and, as of 3:30 PM Eastern standard time, is trading up $10.20 (April futures) at $1325.90. This upside spike is truly a combination of both a weaker U.S. dollar along with buyers bidding up the precious yellow metal.According to the Kitco Gold Index, spot gold is currently fixed at $1323.30, which is a net gain of $7.60 on the day. On closer inspection, it...Read More
(Kitco News) - Gold and silver prices were ending the U.S. day session with solid gains Monday. The precious metals were supported by a weaker U.S. dollar index and a rebound in crude oil prices. Some short covering in the futures market and bargain hunting in the cash market were featured in both metals, following last week’s selling pressure. Impressively, the metals were able to post good...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
(Kitco News) - Analysts are optimistic when it comes to Chinese gold demand for the Lunar New Year, stating that they expect to see strong growth despite higher gold prices. China is already seeing an improvement in gold demand ahead of the Lunar celebrations, which will usher in the year of the Dog on Feb. 16. The occasion has historically been a key gold-buying opportunity for consumers in a c...Read More