(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
Tahoe Resources (TSX: THO; NYSE: TAHO) announces that operations at its La Arena mine in Peru have resumed following an agreement to end a protest. The company says it does not expect an eight-day suspension of mining operations to have a “material impact” on production but nevertheless says it the now expects output at the mine to be near the low end of annual guidance of 160,000 to 1...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
The metals continue to consolidate, giving more indications that the bottoms could be in. The consolidation phase is always the most challenging for traders. It is the time of most uncertainty. This phase may create false starts and stops because of the confusion. Consolidation is also known as the birth of markets and all markets go through this phase about 65% of the time. As we have written the...Read More
Lackluster demand for steel billet kept global prices largely stable or down in what was slow trading during the week from Monday September 3 to Friday September 7, with many importers snubbing higher offers.Turkey was the exception, with its export and import prices strengthening in line with rising scrap values, although its demand for imported billet remained weak.AsiaThe majority of Southeast...Read More
Lackluster demand for steel billet kept global prices largely stable or down in what was slow trading during the week from Monday September 3 to Friday September 7, with many importers snubbing higher offers.Turkey was the exception, with its export and import prices strengthening in line with rising scrap values, although its demand for imported billet remained weak.AsiaThe majority of Southeast...Read More
Aluminium prices on the London Metal Exchange were higher at the close of trading on Monday September 10, supported by continued uncertainty about supply flows while US sanctions against Russian producer Rusal keep investors cautious.With total on-warrant aluminium stocks dwindling to their lowest level since July 2007 at 765,025 tonnes, the three-month aluminium price has largely ignored underlyi...Read More
Benchmark alumina prices continued to rise late last week, after still-tight Pacific supplies offset any optimism coming out of progress talks at Hydro's Alunorte refinery and while workers at Alcoa voted to continue their strike. Metal Bulletin's daily fob Australia alumina index ended the week at $634.03 per tonne, rising from $627.81 per tonne on Wednesday September 5. Hydro's Alunorte alu...Read More
Base metals prices on the London Metal Exchange drifted mostly lower during morning trading on Monday September 10, capped by a downtrend in Asian equity markets amid continued risk aversion due to escalating US-Sino trade tensions. Falling 1.2% over the morning, three-month copper prices struggled to push back over the $6,000 per tonne mark despite a continued trend of stock drawdowns and fresh c...Read More
The Chinese ferro-silicon market has dropped in the week to Friday September 7 ahead of the imminent arrival of new cargoes of alloy and expected winter steel production cut, while the price spread has widened in Europe amid illiquid trading conditions. China market pressured on expected renewed supply Consumption in focus as steel cuts loom Europe awaits new deals as price range wide...Read More
Imported UG2 ore prices rose on Friday September 7 while charge chrome quotations remained stable and China's domestic spot alloy price slipped in Metal Bulletin's latest pricing sessions. Restocking halts ore and alloy import price falls in ChinaDemand slows in Chinese domestic spot marketSouth Korea and Japan markets stableHigh-carbon imports into Europe, US unmoved The UG2 chrome ore market ap...Read More
Imported UG2 ore prices rose on Friday September 7 while charge chrome quotations remained stable and China's domestic spot alloy price slipped in Metal Bulletin's latest pricing sessions. Restocking halts ore and alloy import price falls in ChinaDemand slows in Chinese domestic spot marketSouth Korea and Japan markets stableHigh-carbon imports into Europe, US unmoved The UG2 chrome ore market ap...Read More
Benchmark alumina prices continued to rise late last week, after still-tight Pacific supplies offset any optimism coming out of progress talks at Hydro's Alunorte refinery and while workers at Alcoa voted to continue their strike. Metal Bulletin's daily fob Australia alumina index ended the week at $634.03 per tonne, rising from $627.81 per tonne on Wednesday September 5. Hydro's Alunorte alu...Read More
Benchmark low-grade cobalt prices rose for the first time since April last week when consumers working with reduced stock levels came back to the spot market. Metal Bulletin assessed the low-grade cobalt price at $33.35-33.95 per lb, in-warehouse, on Friday September 7, up 0.7% from the midweek assessment."The real floor has been established. It all got a bit tense around $33-33.50," a producer sa...Read More
Antimony prices continued upward in Europe last week, with availability of material still a concern amid China's intensifying smuggling crackdown; prices in China followed international markets up despite continued weak demand. Metal Bulletin's price quotation for antimony with bismuth content below 100 ppm in-warehouse Rotterdam climbed to $8,400-8,600 per tonne on Friday September 7, up fro...Read More
The Turkish steel producers were inactive in the deep-sea scrap market at the start of this week because they were digesting the latest transactions, sources said on Monday September 10.The mills in the country have booked at least nine deep-sea cargoes over the past week, totaling more than 240,000 tonnes.But they need to make sure that rebar export sales will continue if they are to book more de...Read More
Turkish domestic scrap prices have continued to climb over the past week, due to firm demand for the material, sources said on Monday September 10.Metal Bulletin's weekly price assessment for auto bundle (DKP grade) ferrous scrap was TRY1,750-2,020 ($273-315) per tonne delivered, up from last week's TRY1,700-1,838 per tonne.The increase in the assessment came after steel mills and a major scrapyar...Read More
Benchmark low-grade cobalt prices rose for the first time since April last week when consumers working with reduced stock levels came back to the spot market. Metal Bulletin assessed the low-grade cobalt price at $33.35-33.95 per lb, in-warehouse, on Friday September 7, up 0.7% from the midweek assessment."The real floor has been established. It all got a bit tense around $33-33.50," a producer sa...Read More
Cobalt trade log including business, bids and offers reported to Metal Bulletin.Unless otherwise stated, all prices are per lb on an in-warehouse basis. Delivered prices are netted back.Metal Bulletin prices Click here for Metal Bulletin's price assessment for low-grade cobalt, in-warehouse, $ per lb Click here for Metal Bulletin's price assessment for high-grade cobalt, in-warehouse, $ per lb In...Read More