Prices for iron ore fines were relatively steady on Wednesday January 24 amid mixed signals from China's steel and futures markets, but premiums for lumps continued to rise.Key drivers China's steel futures continued to outperform those for iron ore, with the benchmark rebar and hot rolled coil contracts ending around 1% higher than the previous day's settlement price, while that for iron ore clos...Read More
Trading activity in the seaborne coking coal market picked up slightly on Wednesday January 24 although there was still little enthusiasm among buyers. A distressed cargo of second-tier materials changed hands at $190 per tonne cfr China, according to various market participants. "It managed to fetch a $5 per tonne premium since it's already on the water. Otherwise, Chinese buyers would have still...Read More
China's ferrous futures had a mixed morning on Wednesday January 24, with steelmaking raw materials contracts experiencing little change while those for steel ended the session higher after the release of mills' production data a day earlier.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,935 ($614) per tonne, down 22 yuan per tonne May hot-rolled coil: 3,926 yuan p...Read More
Comex copper prices bounced back on Wednesday January 24 from a one-month low hit earlier this week, which reflected the dollar hitting its lowest since December 2014.Copper for March settlement on the Comex division of the New York Mercantile Exchange jumped by 9 cents or 2.9% to $3.2010 per lb. Yesterday, the contract touched a one-month low."The main story of the day has to be the weakness we a...Read More
Tin stocks at London Metal Exchange warehouses have fallen further since the start of 2018, with a 34% reduction in on-warrant stocks pushing tin prices to a three-month high.Total tin stock levels are at 1,780 tonnes as of Wednesday January 24 - their lowest since the 1980s - after a series of cancelations and deliveries out since January 10. This is in comparison with the start of 2017, when Jan...Read More
Copper prices on the London Metal Exchange have recovered 1.3% during morning trading on Wednesday January 24 despite another large delivery into LME warehouses. The three-month copper price plummeted to a 2018 low of $6,885 per tonne yesterday after inventories increased a net 36,300 tonnes to 248,075 tonnes. A further 28,600 tonnes were delivered in today across Asian locations, taking the total...Read More
Manganese flake prices surged above $2,000 per tonne amid ongoing environmental inspections in China with further production disruptions adding fresh impetus to this year's rally."The price rally seems to be heading up. I had bids at $1,950 for prompt in Rotterdam this week. I am not selling at this level anymore though. I'm holding out for above $2,000 now," a manganese trader told Metal Bulletin...Read More
Silicon metal prices in the United States will find limited support from US President Donald Trump's decision to impose hefty duties on imported solar panels, industry sources said. While the measure could encourage local production and consequently have an impact on the demand for silicon, the key driver for the metal's price will be the final determinations on the trade investigations of US sili...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Metal Bulletin minor metals prices changed on Wednesday January 24:Minor metals Antimony MB free market regulus, $/tonne: $8,200-8,500 per tonne from $8,100-8,400 Antimony MMTA standard grade II, $/tonne: $8,200-8,500 per tonne from $8,100-8,400 Cadmium MB free market min 99.99%, cents/lb: 99-110 cents per lb from 99-108 Cobalt MB...Read More
Chinese cobalt metal prices moved up slightly in the midweek session, closely following the trend in international cobalt prices.Metal Bulletin assessed the domestic Chinese cobalt price at 575,000-600,000 yuan per tonne (equivalent to about $34.83-36.34 per lb China VAT-free) on Wednesday January 24, up 0.4% from Friday. The Chinese cobalt market has managed to narrow the price gap with inte...Read More
The following Metal Bulletin UK non-ferrous scrap and foundry ingot prices changed on Wednesday January 24:Aluminium scrap Baled old rolled: ?950-980 per tonne from ?950-970 Group...Read More
Lithium fans, take note. The metal's crown as the leading raw material in batteries for electric vehicles (EVs) is facing increasing competition from other products such as cobalt and nickel. Lithium has hogged the top spot in EV batteries for some time, largely due to its early adoption in technology developed by Tesla. For more than a decade, the US-based company has been using lithium-ion batte...Read More
Lithium fans, take note. The metal's crown as the leading raw material in batteries for electric vehicles (EVs) is facing increasing competition from other products such as cobalt and nickel. Lithium has hogged the top spot in EV batteries for some time, largely due to its early adoption in technology developed by Tesla. For more than a decade, the US-based company has been using lithium-ion batte...Read More
Lithium fans, take note. The metal's crown as the leading raw material in batteries for electric vehicles (EVs) is facing increasing competition from other products such as cobalt and nickel. Lithium has hogged the top spot in EV batteries for some time, largely due to its early adoption in technology developed by Tesla. For more than a decade, the US-based company has been using lithium-ion batte...Read More
Lithium fans, take note. The metal's crown as the leading raw material in batteries for electric vehicles (EVs) is facing increasing competition from other products such as cobalt and nickel. Lithium has hogged the top spot in EV batteries for some time, largely due to its early adoption in technology developed by Tesla. For more than a decade, the US-based company has been using lithium-ion batte...Read More
(Kitco News) - Gold stocks and not gold prices will have a breakout year in 2018, largely because people are not “afraid of anything right now,” said CEO of Sprott U.S. Holdings Rick Rule.“Gold will do well this year, but it is not on a verge of a breakout, gold stocks are. Gold outperformed gold stocks last year and this year [the underdog] is going to surprise, particularly bec...Read More
By Nicole MordantVANCOUVER, Jan 23 (Reuters) - Small, opportunistic deals will dominate the global gold mining sector again this year, analysts said on Tuesday, after Leagold Mining Corp unveiled a $264 million bid for fellow Canadian gold miner Brio Gold Inc . Six years after the last mining boom ended with billions of dollars in writedowns following over-priced mega-acquisitions, miners remain...Read More
By Jonathan StempelNEW YORK, Jan 23 (Reuters) - The top U.S. securities regulator on Tuesday rejected arguments by Rio Tinto Plc and two former top executives that its civil lawsuit claiming they concealed the plunging value of coal assets owned by the big Anglo-Australian mining company should be dismissed.In letters filed with the U.S. District Court in Manhattan, the Securities and Exchange Co...Read More
In September of 2017 gold prices topped out at $1363 per ounce. This marked the conclusion of a dynamic rally, which began in July 2017 when gold was trading just above $1200. This $163 rally contained the largest single price move of any rally last year.What would follow would be a sustained and multi-month correction in which gold prices toppled first to $1262 in October of last year and then, a...Read More