Seaborne coking coal spot prices were largely stable on Monday July 2 despite some offers being made above prevailing levels, which kept end-users away from the market. "The offers are not representative of the current market. Prices were propped up after last week's trade [of $211 per tonne cfr China]," a Chinese trader told Metal Bulletin. An end-user source said that the current market was arti...Read More
China's domestic and export prices for hot-rolled coil weakened on Monday July 2 with trading activity remaining thin, sources told Metal Bulletin.DomesticEastern China (Shanghai): 4,240-4,270 yuan ($640-645) per tonne, widened downward by 20 yuan per tonneNorthern China (Tianjin): 4,130-4,180 yuan per tonne, widened downward by 40 yuan per tonneWhile traders in Shanghai were asking for 4,260-4,27...Read More
The global downtrend in antimony prices continued last week amid weakening demand.In Europe, prices for antimony with bismuth content below 100ppm or trioxide-grade in-warehouse Rotterdam moved down to $7,900-8,150 per tonne on Friday June 29 from the mid-week assessment of $8,000-8,250 per tonne.The MMTA standard grade II antimony in-warehouse Rotterdam price was stable at $7,900-8,150 per tonne...Read More
A continuous rise in the dollar against the Chinese yuan has put downward pressure on Chinese silicon export quotations this past week, while prices in Europe retreated amid a seasonal lull.Metal Bulletin assessed Chinese grade 553 silicon export prices at $1,710-1,760 per tonne on Friday June 29, down 2% from $1,740-1,800 per tonne one week ago. Consensus among market participants is that quotati...Read More
Metal Bulletin is proposing to launch a price assessment for ferrous scrap on a cfr Vietnam basis, to be published as a $ per tonne range every week.Following an initial consultation with the market, it has become clear that Vietnam is fast becoming a key price indicator for the ferrous scrap market in Asia, and will likely become a crucial benchmark in the region. Its importance has grown to matc...Read More
Today's modest price increase has had little effect on the weekly tally. As of 3:30 PM Eastern standard time, gold futures (August 2018 Comex contract) are trading $1.80 higher on the day, and currently fixed at $1252.80. Considering gold opened on Monday at approximately $1,272 per ounce, this week's activity resulted in a decline of $20. Today's modest advance is not based in any part on buyers...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump said he expects a second tax overhaul to be unveiled in October or a bit earlier, and he is considering cutting the corporate tax rate to 20 percent from 21 percent.In an excerpt of a Fox Business Network interview to be broadcast on Sunday, Trump said: “We’re doing a phase two. We’ll be doing it probably in October, maybe a litt...Read More
(Kitco News) - While the gold market has been pretty uneventful since the start of summer, you wouldn’t know it in Canada’s Yukon Territory.Our editor Neils Christensen just returned from a week packed with mine tours and interviews from Canada’s great white North. Highlights include his interview with Ranj Pillai, the Minister of Energy & Mines for the Yukon government, who...Read More
(Kitco News) - Analysts are struggling to pinpoint gold’s future direction after prices hit a 12-month low earlier this week, yet many agree that the yellow metal is oversold and is due for a rebound.Gold prices continue to trade under heavy pressure on Friday, closing down what was a very tough week, where gold saw all of its year-to-date gains erased while ignoring escalating trade tension...Read More
Brad Thrall, president of Alexco Resource shows the entrance to the silver company's Flame & Moth underground project. The company expects production to start by the start of 2019 (Kitco News) - The silver market is struggling to gain traction as prices are at the bottom of their range near a six-month low, but there is growing optimism in Canada’s largest historic silver district. In a...Read More
(Kitco News) - Sentiment in the precious metals market is clearly bearish in the near-term as Wall Street and Main Street both look for gold to slide further in the next week, based on the Kitco News weekly survey.In fact, this is the first week that Wall Street and Main Street both have been bearish at the same time since March 9.Fifteen market professionals took part in the survey. There were ei...Read More
(Kitco News) - TD Securities says gold may suffer more in the near term, but the Canadian bank looks for the precious metal to eventually recover as the U.S. dollar loses momentum and investors look for a hedge amid geopolitical and trade issues. In fact, the late-Thursday report from TDS strategists Bart Melek, Ryan McKay and Daniel Ghali forecast that gold will average $1,375 an ounce in the fin...Read More
I have just returned from the annual Yukon Mining Alliance (YMA) Investment & Media Tour with a deeper understanding of the geologic history in the westernmost of Canada's three federal territories. Each year the YMA invites a select group of both industry professionals and resource investors on a 6-day whirlwind tour of numerous mine site camps throughout the region. The schedule and logistic...Read More
There have been some ugly periods in history for gold and silver, but this is one of the ugliest. Neither goldnor silver can catch a bid as they both continue to take the elevator down, making new lows almost every day. Sellers meet every rally attempt, whether it's the commercials or the banks; there is a 1,000-pound gorilla sitting on top of the market. The situation is starting to appear hopele...Read More
(Kitco News) - Gold and silver prices are slightly higher in early U.S. trading Friday. Gold prices did poke to a nearly 12-month low overnight, before rebounding a bit. The precious metals are getting a bit of a lift as the U.S. dollar index is trading solidly lower today on a corrective pullback after hitting a 12-month high on Thursday. August gold futures were last up $1.70 an ounce at $1,252....Read More
The latest news and price moves to start the Asian day on Friday June 29.Base metals prices on the London Metal Exchange closed mostly in negative territory on Thursday June 28, with only zinc defying the trend. Read more in our live futures report.Here are how prices looked at the close of trading:Worldwide Warehouse Solutions (WWS) is closing down its European operations by the end of...Read More
The latest news and price moves to start the Asian day on Friday June 29.Base metals prices on the London Metal Exchange closed mostly in negative territory on Thursday June 28, with only zinc defying the trend. Read more in our live futures report.Here are how prices looked at the close of trading:Worldwide Warehouse Solutions (WWS) is closing down its European operations by the end of...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Base metals on the London Metal Exchange were mostly higher at the close of trading on Friday June 29, ending the week on a slightly brighter note despite broad pressure from trade tensions and dollar strength. Continuing to struggle, zinc prices made a brief recovery during the day, moving back above $2,900 per tonne before drifting back toward $2,850 per tonne.The metal's three-month price made...Read More
Zinc concentrate treatment charges (TC) rose to their highest level so far this year at the end of June on a cif Asia Pacific basis, while the head of the Chinese zinc association has called for a 10% cut in national production to support zinc prices and TCs. Metal Bulletin assessed zinc concentrate TCs cif Asia Pacific at $20-$40 per tonne on Friday June 29. That compares with $20-$35 per to...Read More