Three-month base metals prices on the London Metal Exchange were on divergent paths this morning, Thursday September 6, after a mixed performance on Wednesday.Zinc led on the upside with a 0.9% rebound, while nickel remained under pressure with a 0.5% fall. Lead was up by 0.3% while the rest were little changed, with copper prices at $5,883 per tonne. Volume across the complex has been above avera...Read More
Import prices for stainless steel in East Asia dipped over the past week, pressured by soft regional demand and a downtrend in the nickel market, although some sellers in China were still reluctant to lower their offers. Metal Bulletin's assessment of import prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,150-2,195 per tonne cif East Asian ports for the week ended Wednesday...Read More
China's domestic stainless steel prices were unchanged over the past week amid persistently soft demand.Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,400-15,700 yuan ($2,253-2,297) per tonne including VAT for the week ended Wednesday September 5, unchanged from a week earlier.Demand for stainless steel remained weak over the p...Read More
Key data from the Wednesday September 5 pricing session in Shanghai.Key drivers - Export aluminium ingot ADC 12 prices in China edged up in anticipation of the upcoming peak demand season in September and October.- An environmental regulation which came into effect in China on August 23, imposing a 25% tariff on imported scrap metal to be sold domestically, has not directly affected Chinese ADC 12...Read More
Demand for flat steel in Turkey is expected to remain slow throughout September, but prices are not expected to fall because there is strong export demand, market participants told Metal Bulletin on Thursday September 6.Local producers have filled their order books until the end of October, and are planning to increase their prices for November bookings, despite weak local demand.On August 10, Uni...Read More
Multiple factors continue to influence gold pricing which has been under dramatic pressure since the beginning of April when gold traded to its highest value this year at $1,370. Gold futures closed below $1,200 per ounce in trading activity yesterday, but today’s fractional gains have moved pricing back above that key psychological level.Currently, gold futures basis the most active Decembe...Read More
(Kitco News) - Gold and silver prices are modestly up in early-afternoon U.S. trading Wednesday. Short covering in the futures markets and some perceived bargain hunting in the cash markets were featured today. A sell off in the U.S. dollar index today also worked in favor of the precious metals market bulls. December gold futures were last up $2.20 an ounce at $1,201.30. December Comex silver was...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term. Create your own user feedback survey 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 mar...Read More
Exchange operator CME Group reports that metals volume averaged 626,000 contracts per day in August, which was up 1% from 622,000 in August 2017. Among the highlights, copper futures and options average daily volume increased 16% to 149,000 contracts. Average daily volume in gold options rose 29% to 57,000 contracts. On a rolling three-month basis, metals volume averaged 644,000 contract...Read More
The interesting thing about trading is it takes a buyer and a seller to make a market, which then creates price discovery. Two traders could look at a gold chart and have opposite opinions -- one bullish and one bearish. Of course, this is what makes a market. Many out there use many different indicators and tools that have been developed over the years. The problem with these indicators is trader...Read More
Goldcorp Inc. (TSX: G, NYSE: GG) says it has achieved “significant progress” on key permitting and project milestones that are a part of the company’s five-year 20/20/20 plan to increase gold production and gold reserves by 20% and decrease all-in sustaining costs per ounce by 20%. The company has advanced projects “on time and on budget through the permitting and developme...Read More
Editor's Note: The article was updated to reflect a change in prices. (Kitco News) - Gold and silver prices are modestly up and near their daily highs in early U.S. trading Wednesday. A sell off in the U.S. dollar index today is working in favor of the precious metals market bulls. December gold futures were last up $3.40 an ounce at $1,202.60. December Comex silver was last up $0.045 at $14.22 a...Read More
* China-U.S. trade tensions escalate as deadline looms * Nickel hits lowest since January, zinc hits two-week low * GRAPHIC-2018 asset returns: (Updates with closing prices) By Maytaal Angel LONDON, Sept 5 (Reuters) - Copper rose on Wednesday afterfive straight days of losses as a dollar rally paused, but gainswere firmly capped by persistent fears over escalating tradetensions between the United...Read More
The latest news and price moves to start the Asian day on Wednesday September 5.Nickel prices on the London Metal Exchange fell to their lowest point since January at the close of trading on Tuesday September 4, with prices down by 2.5% amid sharp drops in copper, zinc and lead while strength in the United States dollar continued to put pressure on base metals. Read more in our live futures report...Read More
The latest news and price moves to start the Asian day on Wednesday September 5.Nickel prices on the London Metal Exchange fell to their lowest point since January at the close of trading on Tuesday September 4, with prices down by 2.5% amid sharp drops in copper, zinc and lead while strength in the United States dollar continued to put pressure on base metals. Read more in our live futures report...Read More
The latest news and price moves to start the Asian day on Wednesday September 5.Nickel prices on the London Metal Exchange fell to their lowest point since January at the close of trading on Tuesday September 4, with prices down by 2.5% amid sharp drops in copper, zinc and lead while strength in the United States dollar continued to put pressure on base metals. Read more in our live futures report...Read More
Copper prices on the London Metal Exchange climbed 1% by the close of trading on Wednesday September 5, supported by a marginal retreat in the US dollar index amid continued price dips in the three-month lead and nickel prices.Despite more than 100,000 tonnes of material freshly canceled since August 20 and on-warrant material down over 38% in the same period, three-month copper prices struggled t...Read More
Nickel premiums in China dipped on Tuesday September 4 as the closed arbitrage window has thinned buying interest, while European briquette premiums widened on renewed market interest following the end of summer holidays. China premiums dip on thin purchasing activity, closed arbitrage window Europe briquette premiums widen as interest returns to market US premiums stable in sluggish marketClosed...Read More
Comex copper prices sustained a minor recovery in midweek trading on Wednesday September 5 with a softening dollar supporting the base metals complex.Copper prices for December settlement on the Comex division of the New York Mercantile Exchange tumbled by 7.55 cents or 2.8% to $2.5955 per lb. Earlier in the day, the contract had fallen to $2.58 per lb, the lowest price since August 15."After a sh...Read More
Key data from the Wednesday September 5 pricing session in Europe. Key drivers - Persistent tightness in ferro-titanium availability, as well as higher grade scrap - particularly from Russia, has propelled markets higher again in the past week. Consumer buying has yet to emerge in full after the seasonal summer slowdown, potentially paving the way for a break above $6 per kg for alloy, sources...Read More