The following Metal Bulletin UK non-ferrous scrap and foundry ingot prices changed on Wednesday September 5:Aluminium scrap Group 1 pure 99% & litho: ?1,430-1,470 per tonne from ?1,425-1,465 Commercial cast: ?1,020-1,045 per tonne from...Read More
(Kitco News) - With the price bottom nearly in place, gold bulls appear to be ready for action again, according to Bloomberg Intelligence.Key factors in gold’s recovery will be the U.S. stock market and the greenback, Bloomberg Intelligence senior commodity strategist Mike McGlone said in the Bloomberg Commodity Index Outlook for September.“The dip in the metals bull market appears nea...Read More
An equal combination of both selling pressure and dollar strength have once again taken gold prices lower, resulting in gold futures breaking below $1,200 per ounce. Most active December Comex futures are currently trading off $9.30 on the day and fixed at $1,197.40.As of 2:00 PM Eastern standard time, spot gold is currently trading down by $9.10 and fixed at $1,191.80. According to the KGX (Kitco...Read More
(Kitco News) - Interest in physical gold was not able to keep pace with July sales; however, there was growing demand for physical silver, according to the latest sales numbers from the U.S. Mint.Sales of American Eagle Gold coins fell to a four-month low in August, the Mint said. In total, 21,500 ounces of gold in various denomination was sold, a decline of 38% from July, which was the strong per...Read More
(Kitco News) - Gold and silver prices are lower in early-afternoon U.S. trading Tuesday, but up from daily lows that saw silver hit a 2.5-year low. A stronger U.S. dollar on the foreign exchange market today trumped ongoing world trade tensions and shaky secondary currency markets. December gold futures were last down $7.40 an ounce at $1,199.30. December Comex silver was last down $0.387 at $14.1...Read More
Photo courtsey of Chris Fithall : Australia's Super Pit (Kitco News) - Australia’s gold production hit its highest level in two decades, according to mining consultants Surbiton Associates.According to the firm’s data, gold production for the June quarter totaled 81 tonnes, an increase of 9% or 6.5 tonnes from the March quarter and up 8% from the same period in 2017.For the finan...Read More
The torture of a consolidating market is playing out as scripted in the metals. Gold and silver held the lows, rallied to the top of the range and once again are failing today. With gold now hovering around the $1,200 level, it could go either way from here. The level to watch on the downside has moved up to $1,190 and a close below that could cause issues. We expect gold and silver to hold the re...Read More
(Kitco News) - The amount of gold and silver transferred between accounts of London Bullion Market Association members fell during July, the organization reported Monday.The LBMA releases clearing statistics each month showing the net volume of gold and silver transferred between accounts of members, essentially providing a snapshot of the amount of trading activity.Average daily transfers during...Read More
(Kitco News) - The dollar continues to attract capital flows as stress continues to increase in some emerging markets. Global consequences to trade with the impending $200 billion in Chinese tariffs due to take effect this Thursday have pushed capital into the perceived safe haven of dollar-denominated assets. Gold dropped on dollar strength and both silver and the PGMs have been hit, not only by...Read More
Sept 4 (Reuters) - Securities analysts revised their ratings and price targets on severalCanadian companies, including Chemtrade Logistics, Corus Entertainment and Minto Apartment REIT,on Tuesday. HIGHLIGHTS * Chemtrade Logistics Income Fund : Desjardins raises to buy from hold * Corus Entertainment Inc : TD Securities raises to buy from hold * Minto Apartment REIT : Raymond James starts with outp...Read More
A summary of base metals premiums from across the globe for the week to Tuesday September 4.Please click...Read More
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 US dollar continued to put pressure on base metals.Three-month copper prices fell by 2.6% over the afternoon, continuing to edge away from the $6,000 per tonne support level, to...Read More
With alumina prices at extremely high levels and supply tightness showing no signs of easing, market participants are starting to question when downstream aluminium prices and premiums will begin to react. Limited spot availability following a force majeure at Hydro's Alunorte refinery and strikes by Alcoa workers at its Pinjarra refinery has been continuously pushing the alumina price h...Read More
The European ferro-vanadium market has shown renewed signs of life over the past week, with prices beginning to rebound amid a return of consumer interest in the spot market, while Chinese export prices remained flat on a lack of interest among overseas buyers. Chinese export markets continue flat on buyer inactivity EU FeV market sees bump on return of consumer demand US FeV spot market continues...Read More
Lithium producers' share prices have been under pressure all year and some investors are no doubt wondering whether that marks the end of the lithium boom?Metal Bulletin Research's forecast is for the lithium market to shift into a supply surplus this year and as such we have expected prices to fall, so it is understandable that producers' share prices are also suffering. But, with this just the d...Read More
The European ferro-vanadium market has shown renewed signs of life over the past week, with prices beginning to rebound amid a return of consumer interest in the spot market, while Chinese export prices remained flat on a lack of interest among overseas buyers. Chinese export markets continue flat on buyer inactivity EU FeV market sees bump on return of consumer demand US FeV spot market continues...Read More
With alumina prices at extremely high levels and supply tightness showing no signs of easing, market participants are starting to question when downstream aluminium prices and premiums will begin to react. Limited spot availability following a force majeure at Hydro's Alunorte refinery and strikes by Alcoa workers at its Pinjarra refinery has been continuously pushing the alumina price h...Read More
Manganese ore prices gave up recent gains on Friday August 31 amid buyer resistance to recent offer prices, while alloy prices were steady or higher week on week. Ore prices drop as much as 10 cents in ChinaChinese physical manganese alloys markets tick up, futures weakenSilico-manganese prices rise in IndiaEuropean manganese alloys prices flatline Manganese ore prices dripped on Friday on poorer...Read More
First Cobalt has acquired the Iron Creek property in Idaho, US and eliminated its outstanding royalty, the company said.The move streamlines future permitting and development activities and accelerates the mine planning process, with the North American pure play cobalt company having begun a consultation process and collecting baseline data for future permitting requirements, it noted. The Iron Cr...Read More
Metal Bulletin is inviting market feedback on its proposals to increase the minimum tonnages for some of its benchmark minor metals price assessments. Certain market participants have expressed concerns that pricing data points relating to small lots are neither representative of typical market practice nor mainstream, repeatable spot prices. As such, they have suggested an increase in the minimum...Read More