(Kitco News) - While gold could do reasonably well in 2018, one famed analyst is recommending that investors shouldn’t be focused on just one precious metal.On the sidelines of the Vancouver Resource Investment Conference, Brent Cook, creator of Exploration Insights, told Kitco News’ Daniela Cambone that along with gold and silver he sees opportunities in copper, zinc and lithium.&ldq...Read More
(Kitco News) - Gold and silver prices were ending the U.S. day session slightly lower Monday. Some chart consolidation and mild profit taking from the shorter-term futures traders were featured amid a lack of major, markets-moving news to start the trading week. February Comex gold was last down $0.70 an ounce at $1,332.50. March Comex silver was last down $0.026 at $17.01 an ounce.While the U.S....Read More
Global billet prices fell in the week to Friday January 19 as a result of weak demand and a lack of market activity.In Asia, Chinese mills lowered their offers to try to increase export sales amid weak seasonal domestic demand, but buyers continued to avoid China-origin cargoes. Sentiment was mixed in the Middle East, CIS and North African regions amid poor demand and a quiet market.ChinaDomestic...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metals BHP revealed a strong set of results this week, with copper and zinc output up. US aluminium company Alcoa attributed a loss for the fourth quarter of 2017 to the closure of some operations and higher costs.The primary aluminium market was in a deficit of 1.57 million tonnes for...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metals BHP revealed a strong set of results this week, with copper and zinc output up. US aluminium company Alcoa attributed a loss for the fourth quarter of 2017 to the closure of some operations and higher costs.The primary aluminium market was in a deficit of 1.57 million tonnes for...Read More
Global billet prices fell in the week to Friday January 19 as a result of weak demand and a lack of market activity.In Asia, Chinese mills lowered their offers to try to increase export sales amid weak seasonal domestic demand, but buyers continued to avoid China-origin cargoes. Sentiment was mixed in the Middle East, CIS and North African regions amid poor demand and a quiet market.ChinaDomestic...Read More
Base metals prices on the London Metal Exchange mostly closed in positive territory on Monday January 22 on continued support from the weaker dollar.Lead prices closed back above $2,600 per tonne and close to seven-year high levels. The global refined lead market recorded a deficit of 169,000 tonnes year-to-date through November 2017, according to the International Lead & Zinc Study Group. "The st...Read More
Comex copper prices moved higher in the US morning on Monday January 22, gaining support from further losses on the dollar index. Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 1.55 cents or 0.5% to $3.2030 per lb. Emerging demand outside of China and supply-side uncertainty...Read More
Aurubis AG has acquired Codelco's share in Deutsche Giessdraht, the copper wire rod plant in Emmerich, Germany, that both producers jointly owned, Aurubis said on Monday January 22. The transaction is subject to approval by Germany's federal anti-trust office. The financial terms of the transaction were not disclosed. Before the acquisition, Aurubis had a 60% stake in Deutsche Giessdraht and Chile...Read More
Chinese ferro-silicon prices have dropped for a third week in a row amid a resumption in production in key producing Ningxia province, while the European market reported deals within the current record high and prices in the United States were also unchanged amid tight availability. Chinese consumers bid lower for ferro-silicon but most capacity still idled Europe assessment holds at high,...Read More
Manganese ore buyers secured cheaper offers for low-grade ore last week when they returned to the market for March material. Low-grade manganese ore prices falter even as activity picks upHigh-grade ore quotations stand firmOre buyers favor seaborne cargoes over port stocksAlloy prices stable in India and EuropeUS alloy prices strengthen on spot activity uptick amid harsh weather conditions Low-g...Read More
South32's alumina production declined by 4.5% year on year to 1.26 million tonnes in the December quarter of 2017, according to the company's quarterly report released last week.This brought the miner's total alumina output for its fiscal half-year ended December 31 to 2.54 million tonnes, down 3% from 2.61 million tonnes a year earlier.The miner's share of production at its Worsley Alumina asset...Read More
Germanium dioxide prices soared by 4.3% on Friday January 19 on the news that Teck Resources had declared a partial force majeure on metal sales from its zinc and lead smelting and refining complex, Trail Operations. Traders say germanium dioxide may soon start trading at a premium to germanium metal. Metal Bulletin assessed germanium prices at $1,350-1,450 per kg on an in-warehouse Rotterdam...Read More
European antimony prices continued to edge higher last week due to tightening spot availability while the Chinese market began to wind down ahead of the upcoming Lunar New Year holiday.Metal Bulletin assessed MMTA standard grade II antimony in-warehouse Rotterdam prices at $8,100-8,400 per tonne on Friday January 19, unchanged from Wednesday's assessment, when prices had moved from $8,050-8,350 pe...Read More
Turkish steel mills continued their deep-sea scrap bookings for February and March on Monday January 22 with prices remaining largely stable.A steel mill in the Iskenderun region booked a US cargo, comprising 12,000-15,000 tonnes of plate and structural scrap (P&S) at $373 per tonne and 6,000 tonnes of shredded at $368 per tonne, while the rest of the 38,000-tonne cargo was HMS 1&2 (80:20) at $363...Read More
Total volumes in all of the London Metal Exchange's futures and options contracts rose by 0.5% last year, which is hardly a dramatic result one way or the other, although it did at least halt a run of annual declines.Declines in aluminium and copper turnover were to an extent offset by increases in zinc, nickel and lead. As well, the exchange's new gold and silver contracts chipped in with some us...Read More
Turkish domestic scrap prices continued to increase amid strong demand over the past week, sources said on Monday January 22.Metal Bulletin's weekly price assessment for domestic auto bundle scrap (DKP grade) was $1,300-1,440 ($342-379) per tonne delivered, up from last week's $1,260-1,400 per tonne.The upward movement came after several steel mills raised their buy prices for the materi...Read More
Comex copper prices moved higher in the US morning on Monday January 22, gaining support from further losses on the dollar index. Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 1.55 cents or 0.5% to $3.2030 per lb. Emerging demand outside of China and supply-side uncertainty...Read More
Base metals prices on the London Metal Exchange are for the most part stronger this morning, Monday January 22, with the complex up by an average of 0.2%. Three-month copper prices ($7,096 per tonne) are up the most with a 0.7% gain, while nickel, zinc and lead prices are up by around 0.3% and aluminium and tin prices are little changed.Volume has been average with 6,376 lots traded as of 6.59am L...Read More
Russian producers have announced increasing prices for hot- and cold-rolled steel sheet from February production for domestic buyers, citing high prices and demand in the export market."It was predictable that mills would increase prices, because we are seeing rising export prices and a strong market for [steel] slab," a trader told Metal Bulletin.Metal Bulletin's price assessment for Russian 4mm...Read More