(Kitco News) - Gold moved to our short-term target of $1,322 overnight but a slightly stronger tone to the dollar brought fresh selling into the metals complex. Gold appears overextended in the short term and is trying to consolidate but requires a break above the $1,322 level to generate further momentum. There is support at the $1,311 spot level but a break through here would bring a test of the...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
Base metals prices on the London Metal Exchange were mostly lower at the close on Wednesday January 3, with lead the only metal to finish the day in positive territory. "Lead put in a steady performance while the rest of the metals faltered, underpinned by a positive fundamental picture and tighter LME conditions," Sucden Financial said. "With FOMC minutes from the December meeting due for release...Read More
In a holiday-dominated period, global copper premiums were unchanged in the three major regions over the past week. US premiums were flat once again with the end of mating season and holiday season squashing interest. Outside of Italian premiums, European spot markets were similar to that in the United States. Shanghai premiums were unchanged with Chinese investors on an extended holi...Read More
Zinc and lead concentrate treatment charges (TCs) were little changed throughout December despite Glencore's decision to restart production at its Lady Loretta mine in Australia in 2018.Glencore will add 100,000 tonnes of zinc - or roughly 200,000-220,000 tonnes of zinc concentrates - to the market in 2018 via the restart at Lady Loretta and will subsequently ramp up another 60,000 tonnes per year...Read More
The latest ferro-tungsten and ammonium paratungstate (APT) transactions, bids, offers and assessments in Europe, Vietnam and China. Blue tungsten oxide (BTO) and yellow tungsten oxide (YTO) deals are taken into consideration.The latest ferro-tungsten and ammonium paratungstate (APT) transactions, bids, offers and assessments in Europe, Vietnam and China. Blue tungsten oxide (BTO) and yellow tungst...Read More
The latest ferro-vanadium and vanadium pentoxide (V2O5) transactions, bids, offers and assessments in Europe.The latest ferro-vanadium and vanadium pentoxide (V2O5) transactions, bids, offers and assessments in Europe.To view the latest price quotations, follow the links below:Europe- Ferro-vanadium delivered duty-paid in Europe- Vanadium pentoxide in-warehouse RotterdamChina- Ferro-vanadium, 78%...Read More
The latest ferro-tungsten and ammonium paratungstate (APT) transactions, bids, offers and assessments in Europe, Vietnam and China. Blue tungsten oxide (BTO) and yellow tungsten oxide (YTO) deals are taken into consideration.The latest ferro-tungsten and ammonium paratungstate (APT) transactions, bids, offers and assessments in Europe, Vietnam and China. Blue tungsten oxide (BTO) and yellow tungst...Read More
The latest ferro-vanadium and vanadium pentoxide (V2O5) transactions, bids, offers and assessments in Europe.The latest ferro-vanadium and vanadium pentoxide (V2O5) transactions, bids, offers and assessments in Europe.To view the latest price quotations, follow the links below:Europe- Ferro-vanadium delivered duty-paid in Europe- Vanadium pentoxide in-warehouse RotterdamChina- Ferro-vanadium, 78%...Read More
Zinc and lead concentrate treatment charges (TCs) were little changed throughout December despite Glencore's decision to restart production at its Lady Loretta mine in Australia in 2018.Glencore will add 100,000 tonnes of zinc - or roughly 200,000-220,000 tonnes of zinc concentrates - to the market in 2018 via the restart at Lady Loretta and will subsequently ramp up another 60,000 tonnes per year...Read More
This is a reminder that Metal Bulletin Group's cobalt specification review remains open until later this month and that feedback is still being sought. In November 2017, Metal Bulletin proposed to amend its international cobalt price specifications to reflect changes in the market and invited feedback on the following consultation.There are two stages to the consultation period.The first stage is...Read More
The rampant bullishness of 2017 toward metals involved in the electric vehicle (EV) industry will make way for cautious optimism, with copper likely to benefit the most due to its role in the electric charging network, Lord Copper predicts. I've just looked back at my article written this time last year with my ideas as to what the coming 12 months may have had to bring. Reluctant as I am to indul...Read More
The Turkish deep-sea scrap market remained quiet on Wednesday January 3, with supply still tight, according to market sources.Turkish mills were expected to book more cargoes for February but the suppliers were largely out of the market."Scrap collection is slow due to heavy winter conditions and holiday...Read More
The Comex copper price fell for a third successive day on Wednesday January 2, pressured lower by technical selling and a stronger dollar.Copper for March settlement on the Comex division of the New York Mercantile Exchange fell 2.2 cents or 0.7% to $3.2560 per lb. The contract had rallied throughout most of December, peaking at around a four-year high."Downside risks are likely to be...Read More
Base metals traded on the London Metal Exchange are for the most part weaker on Wednesday January 3, led by a 1% fall in nickel prices to $12,530 per tonne. The rest are off between 0.4% for copperand 0.8% for aluminium, while tin is bucking the trend with a 0.5% rise. Volume has been light, with 5,367 lots traded as of 06:35 am London time. This comes after a mixed performance on Tuesday that saw...Read More
Buying activity in Iran's hot-rolled coil (HRC) and cold-rolled coil (CRC) import market has been sluggish in the week ending Wednesday January 3.Sources told Metal Bulletin this was largely due to national holidays affecting suppliers in the CIS region, which is the leading supplier of steel to Iran.However, had CIS mills been active in the market, trading activity with Iran would hardl...Read More
China's hot-rolled coil prices dipped on Wednesday January 3 following weakness in the paper market.DomesticEastern China (Shanghai): 4,280-4,300 yuan ($659-662) per tonne, down 10 yuan per tonne Northern China (Tianjin): 4,140-4,170 yuan per tonne, down 10 yuan per tonneDeclining futures dampened buying interest in the spot market, resulting in prices sliding during the day, according to market p...Read More
China's ferrous futures dipped during morning trading on Wednesday January 3 with sentiment remaining bearish due to increasing steel inventory levels and weak demand.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,848 yuan ($592) per tonne, down 11 yuan per tonne May hot-rolled coil: 3,895 yuan per tonne, down 18 yuan per tonneDalian Commodity Exchange May iron ore...Read More
Argentinian steelmaker ArcelorMittal Acindar has named Marcelo Marino Pena Luz its new chief executive officer, the company announced on Tuesday January 2.He replaces Jos?(C) Ignacio Giraudo in the position.Pena Luz was previously vice president of operations at ArcelorMittal's Long Steel division in...Read More
Due to a technical error, the following prices were not published by Metal Bulletin Group on Monday January 1:CIS Export Semi-finished and Flat steelCIS Export Semi-finished and Long steelCIS Billet IndexRussia Domestic Long and Flat steelTurkey Domestic Ferrous Scrap AssessmentsAll prices were rolled over from the previous week, due to seasonal holidays.Metal Bulletin Group's Price Book has been...Read More