U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade. NVIDIA gained $1.65 to $249.49 after the company announced launch of a new processor for gaming. Toll Brothers added $3.26 to $37.99 after reporting higher than consensus fiscal third quarter sales and earnings. Kohl's dropped $1.85 to $77.00 despite reporting higher than consensus second...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Tuesday August 21.Base metals prices on the Shanghai Futures Exchange were broadly up during morning trading on Tuesday, with a retreat in the dollar continuing to provide support to the complex. Check Metal Bulletin's live futures report here. Sellers of UG2 chrome ore have lowered their offe...Read More
Manganese ore prices are rebounding on the back of rising silico-manganese futures prices in China....Read More
India's first legal car-shredding operations will begin to generate shredded steel scrap next year but this additional material will not prevent a rise in the volume of the country's scrap imports after 2019, according to Metal Bulletin Research (MBR).Cero Recycling is a joint venture between Mahindra Intertrade and export regulator MSTC. It intends to generate 1 million tonnes per year of sh...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
Physical iron ore was trading at lower prices on Tuesday August 21 with more restrictions affecting mills in China....Read More
BHP expects quality differentiation to remain an important element in the iron ore price formation, even as it sees prices coming under pressure in the short-term amid supply growth and ample inventories at Chinese ports, the miner said on Tuesday August 21....Read More
China's steel futures fell in the morning trading of Tuesday August 21, despite talk of earlier-than-usual winter steel production cuts....Read More
Oliver Nugent, a former executive of the London Metal Exchange, will leave his role as commodities strategist at ING Group to join the commodities research division of Citibank, sources close to the matter told Metal Bulletin....Read More
MMG Dugald River, a subsidiary of MMG Ltd, has entered into an agreement to sell around 40,000 dry metric tonnes of zinc concentrate per annum to China Minmetals Corp (CMC) subsidiary Minmetals North-Europe from 2019 to 2020.The sales agreement is expected to provide Chinese end-users and smelters with "efficient access" to zinc concentrate, Australian-Chinese miner MMG said on Monday August 20."C...Read More
The base metals were up across the board by an average of 0.8% basis three-month prices on the London Metal Exchange on the morning of Tuesday August 21. This extends the rebounds that got underway on Thursday August 16 - the question is whether this is another dead-cat bounce or the start of a more meaningful recovery after a long drawn out downtrend that for most metals has dominated since...Read More
Finnish stainless steelmaker Outokumpu has lowered its alloy surcharge for September deliveries of grade-304 cold-rolled (CR) stainless steel sheets by ?,?61 ($70) per tonne....Read More
China's steel futures fell in the morning trading of Tuesday August 21, despite talk of earlier-than-usual winter steel production cuts....Read More
Physical iron ore was trading at lower prices on Tuesday August 21 with more restrictions affecting mills in China....Read More
China's steel futures fell in the morning trading of Tuesday August 21, despite talk of earlier-than-usual winter steel production cuts....Read More
On Friday of last week, we spoke about the fact that over the last two trading days (Thursday and, Friday) we had seen the first real signs of gold pricing finding support and reaching a potential bottom.One of the most revealing days was Thursday, when gold traded to the lowest price point this year before recovering. After trading to an intraday low of $1167 per ounce, gold futures (basis the mo...Read More
(Kitco News) - Gold prices are posting good gains in early-afternoon U.S. trading Monday, with silver just modestly up. Some positive economic news coming out of China, a major metals importer, helped to lift the metals markets today. Also, some short covering in the gold and silver futures markets was featured following the recent selling pressure. The gold and silver market bears appear to be ex...Read More
NEW YORK (Reuters) - As Wall Street prepares on Wednesday to celebrate the current U.S. bull stock market becoming the longest in history, some investors are keeping corks in their champagne bottles.Not all stock experts will honor the milestone because they use different definitions of bull and bear markets.While one group is widely recognized for determining U.S. economic cycles - the National B...Read More
(Kitco News) - Gold’s “capitulation” presents a buying opportunity for the metal and mining stocks, says Adrian Day, chairman and chief executive officer of Adrian Day Asset Management.Spot gold has fallen from above $1,350 in early April to below $1,200 an ounce. Last week, gold hit its weakest level since early 2017.“The U.S. economy, stock market, and particularly [the U...Read More
Money has flowed out of gold-backed exchange-traded products this month, and there may be more of this from losing positions before gold prices can finally stabilize, says Suki Cooper, precious-metals analyst with Standard Chartered. ETPs trade like a stock but track the price of the commodity, with metal put into storage to back the shares. The amount of gold coming out of ETPs has reached 38 ton...Read More