(Updates sourcing of Jan 19 story)By Tom Polansek and Rod NickelCHICAGO/CALGARY, Alberta, Jan 20 (Reuters) - Top U.S. grain merchant Archer Daniels Midland Co has proposed a takeover of Bunge Ltd , according to a person familiar with the approach, which could set up a bidding war with Swiss-based rival Glencore Plc .Large grain traders that make money by buying, selling, storing and shipping crop...Read More
(Adds comments from Pope, resident)By Mitra TajPUERTO MALDONADO, Peru, Jan 19 (Reuters) - Two decades ago, Swiss priest Xavier Arbex started sounding alarms.The quiet Amazonian region where he had settled years earlier was in peril. Wildcat miners who once searched for gold alongside rivers using wheelbarrows and buckets had started tearing through pristine rainforest with heavy machinery."I...Read More
After rising five consecutive weeks, gold has paused at the $1340 level, which is the level bullion reached just after Donald Trump was declared the 45th President of the United States on November 8th, 2016. However, this shocking and gold bullish news was immediately “trumped” by India’s Prime Minister Narendra Modi announcing the confiscation of the country’s largest cur...Read More
(Kitco News) - The U.S. dollar remains the key market gold investors need to watch in the near-term as further weakness will continue to support the yellow metal, according to analysts.Although gold is preparing to end the week in negative territory -- ending a five-week winning streak -- analysts see strong technical momentum in the marketplace that will continue to support prices.February gold f...Read More
(Kitco News) - Lack of clarity in Washington and weak U.S. dollar will continue to support gold prices next week, which are set to make more gains, according to precious metals experts and Kitco readers who participated in the weekly gold survey.Gold prices on Friday were regaining their lost ground, boosted by renewed weakness in the U.S. dollar, ahead of a possible government shutdown. Spot gold...Read More
(Kitco News) - Gold is regaining lost ground Friday as the U.S. dollar is once again trading near 3-year lows on increased fears of a U.S. government shutdown, according to forex analysts.“Gold found support on Friday in the form of dollar weakness and market anxiety over a potential U.S. government shutdown,” said Lukman Otunuga, research analyst at FXTM.As Republicans rush to gather...Read More
(Kitco News) - The markets continue to reflect nervousness about the possibility of a government shutdown at midnight tonight. The rhetoric ratcheted higher overnight as Democrats continue to demand a deal on DACA as part of the funding extension. Dollar selling accelerated and gold pushed higher before the Asian close. Volatility will increase throughout the day and traders are likely to go into...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
The latest news and price moves to start the Asian day on Friday January 19.The base metals complex was generally up in end-of-day trading on Thursday January 18, with aluminium leading the way with a 2.2% price increase while lead hit a three-month high. Read more in our live futures report. Here are how prices looked at the end of the day on Thursday.Participants in the European p...Read More
The latest news and price moves to start the Asian day on Friday January 19.The base metals complex was generally up in end-of-day trading on Thursday January 18, with aluminium leading the way with a 2.2% price increase while lead hit a three-month high. Read more in our live futures report. Here are how prices looked at the end of the day on Thursday.Participants in the European p...Read More
The latest news and price moves to start the Asian day on Friday January 19.The base metals complex was generally up in end-of-day trading on Thursday January 18, with aluminium leading the way with a 2.2% price increase while lead hit a three-month high. Read more in our live futures report. Here are how prices looked at the end of the day on Thursday.Participants in the European p...Read More
Aluminium billet premiums in the United States jumped, some premiums in Asia were lower, and the Germany premium in Europe widened upward.The aluminium three-month price on the London Metal Exchange closed at $2,219 per tonne.The spread between the three-month and cash price was in a $1.50 contango per tonne after touching a $6 backwardation earlier in the week.The US 6063 spot billet upcharge has...Read More
Base metals prices on the London Metal Exchange were on divergent paths at the close on Friday January 19, after a week of volatility. Zinc and tin both set fresh 2018-highs during the early morning London session, sustaining their gains throughout the day to close in positive territory."Zinc is forecast to continue its strong rally as global production is on track to trail demand for a third stra...Read More
Nickel briquette premiums cif China were steady week on week in spite of a production outage at the Ambatovy project in Madagascar. Premiums for nickel briquette from LME warehouses cif China remained at $130-140 per tonne in the week ended Friday January 19, sources told Metal Bulletin. Meanwhile, duty-free nickel briquettes from Australia and Madagascar are being offered at premiums of $350-360...Read More
Selenium prices rose over the past week on dwindling supply and buoyant demand from India. "There are usually two reasons for selenium prices to go up or down - a change in demand from either India or China. And both Chinese and Indian markets are hot right now," a market participant said. Metal Bulletin's selenium price rose to $18-19.5 per lb in the midweek assessment on Wednesday January 1...Read More
The UK inter-merchant price range for austenitic alloy steel scrap fell by ?40-60 per tonne this week as both the US dollar and nickel prices weakened, sources said on Friday January 19.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?900-940 ($1,247-1,302) per tonne delivered on Friday, compared with ?960-980 per tonne on January 12.The London Metal...Read More
The scrap prices in the major markets, other than the United States, have softened in line with weak demand from Turkish steel producers during the working week from Monday January 15 to Friday January 19.However, the US market was also expected to follow the trend, with Baltic Sea and European suppliers having already agreed to sell material to Turkey at lower prices at the end of the week.Turkey...Read More
Prices for containerized imports of ferrous scrap into India fell this week, with negative sentiment and a drop in demand weakening the market, sources told Metal Bulletin on Friday January 19.Indian import scrap markets achieved their highest prices for more than three years a fortnight ago, but the market undid those gains after a sharp decline in buying activity in Pakistan.Metal Bulletin's ind...Read More
Comex copper prices were once again trading in negative territory on Friday January 19 despite the dollar trading at the lowest point since January 2015. Copper for March settlement on the Comex division of the New York Mercantile Exchange declined 0.85% or 0.3% to $3.1905 per lb. Since the beginning of the month, the...Read More
Base metals prices on the London Metal Exchange are stronger across the board this morning, Friday January 19, with the complex up by an average of 0.6%. Aluminium prices ($2,262 per tonne) saw the biggest increases with a 0.8% gain and lead is the laggard with a 0.4% gain ($2,616 per tonne), while copper prices, at $7,125 per tonne, are up 0.7%. Volume has been high with 11,182 lots traded as of...Read More