Base Metal Stock Articles

Cyclone-led port closure pushes up seaborne iron ore prices

January 11, 2018 / July Zhang

Seaborne iron ore prices picked up on Thursday January 11 following news of a cyclone in Western Australia that led to the closure of Port of Port Hedland.Key driversTropical Cyclone Joyce formed off the west coast of Western Australia earlier in the day and is expected to intensify in the evening as it moves toward the coast in a south to south-westerly direction, the Pilbara Ports Authority said...Read More

Seaborne coking coal market stable but pessimism grows

January 11, 2018 / Deepali Sharma

Prices for Australia-origin premium hard coking coal were stable on Thursday January 11, though buyers are expecting a gradual decline in the weeks ahead. Several offers for cargoes of premium products were heard made to the ex-China market amid lackluster interest for imports among Chinese buyers. "Some miners have indicated availability for February cargoes but are awaiting firm bids before...Read More

China AM: Coking coal futures buck downtrend

January 11, 2018 / July Zhang

China's ferrous futures largely trended downward during morning trading on Thursday January 11 with the exception of the coking coal contract, which ended the session higher.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,844 ($58) per tonne, down 17 yuan per tonne May hot-rolled coil: 3,880 yuan per tonne, down 14 yuan per tonne Dalian Commodity Exchange May iron o...Read More

GALLIUM SNAPSHOT: Prices start firming up on lower inventories

January 11, 2018 / Tanya Ashreena

Key data from Metal Bulletin's Wednesday January 10 pricing session in Europe.Gallium Metal MB free market $/kg Key drivers: - Major producers have run out of inventory - Producers in China are not increasing output, despite a significant reduction over recent months- Supply from earlier...Read More

METALS MORNING VIEW 11/01: Metals looking stronger again

January 11, 2018 / William Adams

Base metals prices on the London Metal Exchange are generally higher this morning, Thursday January 11, with aluminium leading the way with a 0.8% gain to $2,203 per tonne, while tin is the one bucking the trend with a 0.3% decline. Nickel prices are unchanged, while the rest are up by between 0.2% and 0.4%, with copper prices up by 0.3% at $7,169 per tonne.Volume has been average, with 6,933 lots...Read More

BULLION LATEST 11/01: Gold prices rise on dollar weakness; other precious metals higher

January 11, 2018 / Echo Ma

The spot gold price rose during Asian morning trading on Thursday January 11 after the dollar continued to drift lower following news that Chinese officials have recommended the country slow or halt its purchases of US bonds.The spot gold price was quoted at $1,319.05-1,319.35 per oz as of 11.39am Shanghai time, up by $2.05 from the previous session's close. Trade has ranged from $1,317.05-1,320.7...Read More

US silicon metal prices rise 2.5% in January on supply concerns

January 11, 2018 / Danielle Assalve

Silicon metal prices in the United States inched up again in January, pressured by continuing supply concerns. Metal Bulletin sister publication American Metal Market assessed the spot price for US delivered 553 silicon at $1.40-1.42 per lb on Wednesday January 10, up by 2.5% from a month earlier when prices were in a range of $1.35-1.40 per...Read More

East Asian stainless steel market starts softening on falling demand

January 11, 2018 / Fiona Lam

East Asia's stainless steel market has started to show signs of weakness, with prices for cold-rolled coil retreating over the past week amid thin trading and soft demand.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm cold-rolled coil was $2,130-2,150 per tonne cif East Asian ports for the week ended Wednesday January 10, down $20-50 per tonne from $2,150-2,200 per tonne cif...Read More

China ADC 12 prices rebound on higher producer offers

January 11, 2018 / Echo Ma

Domestic and export aluminium ingot ADC 12 prices in China rose this past week after Japanese buyers returned to the market following the New Year holidays and producers raised their offers due to higher raw material costs.Metal Bulletin assessed the aluminium ingot ADC 12 main Japanese ports spot price at $1,990-2,020 per tonne on Wednesday January 10, up by 2.3% from $1,950-1,970 per tonne last...Read More

India's JSW Steel achieves record quarterly crude steel output in Oct-Dec 2017

January 11, 2018 / Paul Lim

India's JSW Steel recorded its highest-ever quarterly crude steel output in October-December 2017, producing 4.11 million tonnes - up 7% compared with the same quarter in 2016.The October-December period is the third quarter of JSW Steel's 2017-2018 financial year, which runs to March 31, 2018. Flat steel production dropped 1% year on year to 2.82 million tonnes, while long steel production increa...Read More

PEOPLE MOVES: Mechel appoints Nelli Galeeva as CFO

January 11, 2018 / Vlada Novokreshchenova

Mechel, one of the leading Russian mining and metals companies, has appointed Nelli Galeeva as its new chief financial officer (CFO), the company reported on Wednesday January 10.Prior to this appointment, Galeeva had been leading Mechel's accounting and tax department for four years and oversaw work on the...Read More

Canada Zinc Metals Announces Completion of Initial Earn-in On the Pie Option Properties

Jan 11, 2018 / PEEYUSH VARSHNEY

Vancouver, British Columbia, Canada - Thursday, January 11, 2018 - Canada Zinc Metals Corp. (TSX Venture Exchange: CZX) is pleased to announce that Teck Resources Limited (“Teck” TSX: TECK.B) and Korea Zinc Co. Ltd. (“Korea Zinc”) (collectively, the “Optionees”) have delivered to the Company an exercise notice regarding the Optionees’ First Option on the P...Read More

'Unfair' To Compare Gold To Bitcoin As Crypto Space Lacks 'Depth' - ABC Bullion

Jan 10 2018 7:04PM / Kitco News

(Kitco News) - Gold and silver investments should not be missed out on amid the recent crypto craze, said ABC Bullion’s global general manager, pointing out that risks associated with digital currencies are often overlooked.Crypto’s “huge returns of late” might not be able to protect traders against much bigger problems that exist within the cryptocurrencies space, Nicholas...Read More

Is Gold Forming A Base At $1300?

Jan 10 2018 6:03PM / Kitco Commentary

Recent price action in gold suggests that the precious yellow metal might be forming a base at just above $1300 per ounce. The most recent rally, which began in mid-December, took pricing from $1238 to $1327 before finding resistance. Since Friday of last week, gold has been trading in a narrow and defined range with intraday lows coming in above $1305 and intraday highs falling below $1324.When f...Read More

Deals of the day-Mergers and acquisitions

Jan 10 2018 4:00PM / Reuters

(Adds Nestle, SS&C, Bayer, Galeries Lafayette, Intesa SanPaolo, Henri Selmer Paris; Updates Twenty-First Century Fox Inc)Jan 10 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:** Huawei Technologies Co Ltd's planned deal with U.S. carrier AT&T Inc to sell its smartphones in the United States has collapsed at the 11th hour because...Read More

Where is Gold Headed Next Week? VOTE NOW!

Jan 10 2018 3:29PM / Kitco News

(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our market professional survey.Readers can al...Read More

Canada Increasingly Sure Trump To Pull Plug On NAFTA - Sources

Jan 10 2018 3:02PM / Reuters

LONDON, Ontario (Reuters) - Canada is increasingly convinced that U.S. President Donald Trump will soon announce that the United States intends to pull out of the North American Free Trade Agreement, two government sources said on Wednesday.The sources said they expected Trump would make his move at about the same time that negotiators from the United States, Canada and Mexico meet in late January...Read More

This Will Drive Gold Prices And Miners In 2018 - Jordan Roy-Byrnes

Jan 10 2018 2:16PM / Kitco News

Editor's Note:View Kitco News' full 2018 outlook coverage(Kitco News) - Known as a fan favorite, the Expert Series brings together well-known investors and Kitco regulars to find out where they will be putting their money in 2018.Adding a twist this year's feature, we have asked popular mining sector analysts for their thoughts on the mining sector and what companies they like in the new year. Thi...Read More

Gold Gains On Safe-Haven Demand, Weaker USDX

Jan 10 2018 1:34PM / Kitco News

(Kitco News) - Gold prices ended the U.S. session higher and hit a nearly four-month high Wednesday. Safe-haven demand for the yellow metal was featured amid a rise in world government bond yields that troubled the marketplace. A lower U.S. dollar index on this day also provided support to the precious metals. February Comex gold was last up $5.60 an ounce at $1,319.40. March Comex silver was last...Read More

Warren Buffett: Bitcoin Craze Will End Badly

Jan 10 2018 11:57AM / Kitco News

(Kitco News) - The world’s most famous investor doubled down on his negative view of bitcoin and cryptocurrencies Wednesday.In an interview with CNBC, Warren Buffett, from Omaha, Neb., said that he will have nothing to do with cryptocurrencies. In a harsh rebuke of the asset class, Buffett said, “I can say almost with certainty that they will come to a bad ending.”He explained th...Read More

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