Premium hard coking coal prices moved up on Friday September 7, with traders continuing to drive buying activity.A transaction involving a cargo of premium materials was sold at $192 per tonne fob Australia on Global Coal on Friday, $5 per tonne higher than the last trade involving a cargo in the same bracket on the platform on Tuesday.A transaction involving a cargo of premium mid-vol hard coking...Read More
Following approval to start trading copper futures options on September 21, the Shanghai Futures Exchange has released specified terms for its upcoming copper options contract and has named 18 Chinese companies that will act as market makers on the contract.The exchange received the greenlight to trade the long-awaited futures copper options from the China Securities Regulatory Commission last wee...Read More
The following Metal Bulletin minor metals prices changed on Friday September 9:Minor metals Antimony MB free market regulus, $/tonne: $8,400-8,600 per tonne from $8,350-8,600 Antimony MMTA standard grade II, $/tonne: $8,400-8,600 per tonne from $8,350-8,600 Bismuth MB free market, $/lb: $4.00-4.60 per lb from $4.00-4.30 Bismuth MB China domestic, yuan/tonne: 56,000-57,000 yuan...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker this morning, Friday September 7, which follows another mixed performance by the complex on Thursday.Nickel continued to lead on the downside with a 1.6% drop, while aluminium also bucked the down trend with a 0.3% gain. The rest were down between 0.1% for lead and 0.7% for zinc, with copper prices down by 0....Read More
Brazilian pipe, bar and stainless steels distributor Grupo A??otubo has started up a stainless steel bar processing unit after investing 8.50 million Reais ($2.07 million) in it. "We will be able to offer a more complete portfolio [of products] and increase our share in the market," Mar??al dos Santos Junior, A??otubo's marketing manager, told Metal Bulletin late last week. With the new line, A??o...Read More
The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday September 7:Aluminium scrap Floated Frag: ?,?1,140-1,180 per tonne from ?,?1,180-1,220 Cast:...Read More
ArcelorMittal has reached a provisional labor agreement with Italian trade unions regarding the acquisition of the country's flat steel producer Ilva."There is now a clear path toward closing the transaction and starting the important work of rehabilitating Ilva," Aditya Mittal, president, chief financial officer and chief executive officer of ArcelorMittal Group, said on Thursday September 6. "We...Read More
Gold futures are currently trading up $3.70 and as of 4:00 PM Eastern standard time, are fixed at $1,205. That makes for a modest gain but well below the highs achieved earlier as gold traded to $1,212.70 an ounce. About 76% of the gains today can be attributed to investors bidding up the precious yellow metal. The remaining 24% of today's gains are a result of the fractionally weaker U.S. dollar....Read More
(Kitco News) - Gold prices were just slightly up in early-afternoon U.S. trading Thursday. Better gains seen in early-morning trading were given back as the session progressed. A modestly weaker U.S. dollar index today and slightly downbeat U.S. economic news supported some buying interest in the precious metals markets today. Also, there could have been some mild safe-haven demand at work support...Read More
Standard Chartered expects a bounce in gold prices once this month’s meeting of the U.S. Federal Open Market Committee is history. Trade tensions, the performance of China’s currency and emerging-market currency weakness are continuing to set the tone for gold prices, Standard says. “However, we still expect gold prices to gain upward momentum after the September FOMC meeting,&rd...Read More
(Kitco News) - Holdings of gold by global exchange-traded funds and similar products fell by 40 tonnes during August, the World Gold Council reported Thursday.Holdings now stand at 2,353 tonnes after three straight months of declines. The drop was also coupled with softer gold prices and assets under management fell by 3%. For the year to date, ETF holdings are now down by 18.5 tonnes.Most ETFs tr...Read More
(Kitco News) - Gold remained stronger after the Commerce Department reported Thursday that U.S. factory orders fell by 0.8% to $497.8 billion in July. Comex December gold was last up $9.60 at $1,210.90.Consensus expectations compiled by various news organizations called for orders to be down by around 0.6% or 0.7%.The monthly decline followed a short streak of two straight decreases. June durables...Read More
(Kitco News) - Gold prices edged down slightly but remained near daily highs after momentum in the service sector beat expectations in August, according to the latest data from the Institute of Supply Management (ISM).The Non-Manufacturing Purchasing Managers' Index rose to a reading of 58.5% in August, up from July’s reading of 55.7%. The increase was a surprise to the markets, which expect...Read More
(Kitco News) - Gold and silver prices are higher in early U.S. trading Thursday. A weaker U.S. dollar index today and some slightly downbeat U.S. economic news are supporting some buying interest in the precious metals markets. Also, there could even be some safe-haven demand at work supporting the metals today, amid new and unflattering revelations about U.S. President Trump. December gold future...Read More
* Trade war fears to cap prices of industrial metals * Aluminium supported by higher raw material costs (Updates with closing prices) By Pratima Desai LONDON, Sept 6 (Reuters) - Copper prices rose on Thursdaydue to funds covering short positions and recent dollarweakness, but significant gains are unlikely due to anescalating trade dispute between the United States and China. Benchmark copper on t...Read More
The latest news and price moves to start the Asian day on Thursday September 6.Copper prices on the London Metal Exchange climbed by 1% by the close of trading on Wednesday September 5, supported by a marginal retreat in the United States' dollar index amid continued price dips in the LME's three-month lead and nickel prices. Read more in our live futures report.Here are how prices looked at the c...Read More
The latest news and price moves to start the Asian day on Thursday September 6.Copper prices on the London Metal Exchange climbed by 1% by the close of trading on Wednesday September 5, supported by a marginal retreat in the United States' dollar index amid continued price dips in the LME's three-month lead and nickel prices. Read more in our live futures report.Here are how prices looked at the c...Read More
The latest news and price moves to start the Asian day on Thursday September 6.Copper prices on the London Metal Exchange climbed by 1% by the close of trading on Wednesday September 5, supported by a marginal retreat in the United States' dollar index amid continued price dips in the LME's three-month lead and nickel prices. Read more in our live futures report.Here are how prices looked at the c...Read More
Copper prices on the London Metal Exchange were up by approximately 1% at the close of trading on Thursday September 6, propped up by a raft of fresh buying and a softer dollar index, while a downswing in aluminium prices came amid escalating US-Sino trade tensions. With more than 100,000 tonnes booked for removal since August 20, total on-warrant copper inventory remains at its lowest level since...Read More
The London Metal Exchange's senior vice president of business development, Marko Kusigerski, has left the exchange after more than four years, Metal Bulletin has learned, while Mario Quonils has joined the bourse as chief technology officer. Kusigerski joined the LME in 2014 as a business development project manager for the newly established LMEbullion electronic auction system, working up to assi...Read More