European ferro-vanadium and vanadium pentoxide prices surged to fresh 10-year and 13-year highs respectively amid thin supply availability and increased activity levels in the week ended Friday September 7, while the Chinese export market firmed despite limited buying interest. Chinese export prices bolstered by strength in domestic market European FeV prices surge to fresh 10 year-high amid retu...Read More
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Good morning from Metal Bulletin's offices in Asia, as we bring you the latest news and pricing stories on Tuesday September 11. Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Tuesday, after the reality of escalating trade tensions between China and United States began to stifle the positive sentiment brought by strong Chinese data released early thi...Read More
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Three-month base metals prices on the London Metal Exchange were mostly stronger during morning trading on Tuesday September 11. Zinc and tin led the advance with rises of 0.6%, followed by gains of 0.4% and 0.2% in aluminium and copper respectively. Nickel was largely flat, while lead dropped by 0.4% to $2,010 per tonne. Still, the overall configuration of the LME base metals complex was positive...Read More
Technical action by S&P 500 stocks to 10:00: Mixed. Intermediate breakouts: $GIS $MO $A $APH. Breakdowns: $RE $MLMEditor's Note: After 10:00, breakouts included MRK and AMGN. Breakdown included CERN and TMK.Dow Jones Transportation Average moved above $11,475.74 to an all-time high extending an intermediate uptrend. Also related: $IYTIndia ETF $PIN moved above $25.37 completing a double top pa...Read More
The Turkish steel producers have broken their silence in the deep-sea scrap markets with the news of fresh cargo sold on Tuesday September 11.Market participants were expecting mills to resist scrap purchasing so as to put downward pressure on prices, because demand for finished steel products was soft in the export markets.The fresh deep-sea deal indicated a $3 per tonne fall in prices compared w...Read More
Physical iron ore prices were rangebound on Tuesday September 11 amid rumors, and subsequent denials, that China would be easing the production restrictions currently imposed on steelmakers. Metal Bulletin 62% Fe Iron Ore Index: $67.67 per tonne cfr Qingdao, down by $0.14 per tonne. Metal Bulletin 62% Fe Pilbara Blend Fines Index: $66.70 per tonne cfr Qingdao, down by $0.14 per tonne. Metal Bullet...Read More
Seaborne coking coal prices continued to move up on Tuesday September 11, with India having an appetite for spot cargoes, market sources said. A premium mid-vol cargo was heard to have changed hands at around 196.50 per tonne cfr China this week, market participants said on Tuesday, following a trade at $196.50 fob Australia the previous day."The recent spike in seaborne prices has been becau...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. ...Read More
China's ferrous futures were mixed during morning trading on Tuesday September 11, with the rebar and coke contracts ending lower while those for hot-rolled coil and coking coal edged up.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,160 yuan ($606) per tonne, down 16 yuan per tonneJanuary hot-rolled coil: 4,051 yuan per tonne, up 4 yuan per tonneDalian Commodi...Read More
Despite the recovery in international cobalt prices, Chinese market participants are not confident of an immediate subsequent pick-up in Chinese cobalt sulfate prices due to persistent tight credit lines making it difficult for cobalt companies to access cash. Weak demand had been a key driver of plummeting Chinese cobalt prices in the past few months. Although many market participants indicated c...Read More
Three-month base metals prices on the London Metal Exchange were mostly stronger during morning trading on Tuesday September 11.Zinc and tin led the advance with rises of 0.6%, followed by gains of 0.4% and 0.2% in aluminium and copper respectively. Nickel was largely flat, while lead dropped by 0.4% to $2,010 per tonne. Still, the overall configuration of the LME base metals complex was positive,...Read More
Stainless steel prices in the United States continued to fall this month on the back of declining surcharges, according to market participants.American Metal Market's assessment of Type 304 and Type 304L stainless steel cold-rolled sheet fell by 2.5 cents to $1.38 per pound and $1.40 per lb respectively on Monday September 10, and Type 316L stainless cold-rolled sheet slipped by 1 cent t...Read More
China will raise its export rebates for 85 steel products from September 15 onward, according to a notice from the country's Ministry of Finance's (MOF) last week.The steel products affected by the rebate change are mostly those that carry high prices and exported in small volumes. Rebates for regularly traded products, such as hot-rolled coil, will not change. The new rebates for the 85 steel pro...Read More
In lighter than usual holiday trading, gold futures are trading just above $1,200. As of 4:30 PM Eastern standard time, gold futures are up $0.30 and currently fixed at $1,200.70. Spot gold is currently fixed at $1,195.10, after accounting for a net decline of $1.10 today.Even dollar weakness couldn’t overcome the selling pressure in the physical market. According to the KGX (Kitco Gold Inde...Read More
* Brexit deal “realistic in six to eight weeks” -EU negotiator* Sterling and euro rise sharply* Dollar supported by trade fears and interest rate expectations* Gold must rise above $1,220 to regain momentum -analyst (Updates prices, headline; adds comment, second byline, NEW YORK to dateline)By Renita D. Young and Peter HobsonNEW YORK/LONDON, Sept 10 (Reuters) - Gold prices inched high...Read More
(Kitco News) - Gold and silver prices are just slightly firmer in early-afternoon U.S. trading Monday. A weaker U.S. dollar index today limited selling interest, but upbeat trader and investor attitudes to start the trading week thwarted buying of the safe-haven metals. However, there are some potential storm clouds on the horizon. December gold futures were last up $1.10 an ounce at $1,201.60. De...Read More
(Kitco News) - Money managers resumed building bearish positioning in gold and silver futures during the most recent reporting week for data compiled by the Commodity Futures Trading Commission.This comes after these accounts had trimmed their bearish posture in the prior week’s report.During the week-long period to Sept. 4 covered by the most recent data, Comex December gold fell by $15 to...Read More
(Kitco News) - Gold prices have erased mild overnight losses and are trading with slight gains and back above $1,200.00 in early U.S. dealings Monday. Some short covering in the futures market and perceived bargain hunting in the cash market are featured. From a technical perspective, the bulls believe they have stabilized prices with the recent sideways action on the daily chart, to suggest a mar...Read More