Commercial production has been declared at Yamana Gold Inc.’s (TSX: YRI; NYSE: AUY) Cerro Moro gold and silver mine in Argentina, the company reports. “The project has been brought to this stage on schedule and on budget, which reflects the significant efforts by operations and technical services management since construction began a few years ago,” says Daniel Racine,...Read More
Bulls are exiting from “stale” positions in gold futures, says INTL FCStone. The market is sliding and has lost the upward momentum from earlier in the year. INTL FCStone analysts say “we are quite surprised to see a big selloff hitting gold,” with prices falling to a six-month low. “The fact that the precious metal has not been moving higher despite falling global eq...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
Gold appears to be in a bottomless pit of selling, and there are no buyers to be found. Even with the equity markets getting pounded on Monday, there were no bids for gold. Either investors feel there is no need for a safety play or the shine has worn off in gold. Since June 15, just when it looked safe to jump into the gold waters, the market collapsed and continues to fall. Apparently, there is...Read More
The latest news and price moves to start the Asian day on Tuesday June 26.Nickel prices fell by more than 3% at the close of trading on the London Metal Exchange on Monday June 25 while other base metals prices also slumped. Read more in our live futures report.Here are how prices looked at the close of trading:The London Metal Exchange will introduce three regional hot-rolled coil contracts...Read More
The latest news and price moves to start the Asian day on Tuesday June 26.Nickel prices fell by more than 3% at the close of trading on the London Metal Exchange on Monday June 25 while other base metals prices also slumped. Read more in our live futures report.Here are how prices looked at the close of trading:The London Metal Exchange will introduce three regional hot-rolled coil contracts...Read More
Base metals on the London Metal Exchange ended mostly lower at the close of trading on Tuesday June 26, weakened by volatile trade relations between the United States and other major economies. "In terms of today's action, we are down once again in the metals space, as the sector typically lands squarely in the middle of any US/Chinese trade spat, real or imagined," INTL FCStone analyst Edward Mei...Read More
There have been more deals for third-quarter cif main Japanese ports (MJP) aluminium supply agreed at a premium of $132 per tonne between several buyers and more than one producers, sources involved in the quarterly negotiations said on Tuesday June 26. The number, which could become the quarterly benchmark if more than 30,000 tonnes of business are confirmed at that level, represents a 2.3% incre...Read More
Comex copper prices traded at the lowest point since March 2018 on Tuesday June 26 with threats of a growing trade war weighing on the metals complex. Copper for July settlement on the Comex division of the New York Mercantile Exchange inched down 0.40 cents or 0.1% to $2.9830 per lb. Earlier, the contract touched $2.9795, the lowest since March 26. "Copper has slipped since mid-June due to growin...Read More
The European charge and high carbon ferro-chrome benchmark has settled at $1.38 per lb for the third quarter of 2018. The settlement represents a reduction of 4 cents compared with the second quarter of the year. Metal Bulletin reported on June 18 that the widely-anticipated price reduction would be smaller than early estimates, due to rising spot ferro-chrome prices in Europe and China. Metal Bul...Read More
Prices for vanadium pentoxide (V2O5) jumped in China and Europe in the week ended Friday June 22, buoyed by tight supply in the spot market, while US ferro-vanadium quotations stabilized though low availability persists there. China's vanadium export prices jump on domestic tightnessEuropean vanadium market moved higher owing to tight spot cargoes US ferro-vanadium market largely was stable,...Read More
Ferro-chrome prices are rising in China amid domestic smelters shutdowns and South African supply concerns. Domestic ferro-chrome production shutdowns push up alloy prices in China South African charge chrome prices jump Ore prices continue to edge higher No impact from China tightness on Japan, South Korea European prices hold at 2018 high Imported ferro-chrome prices kept rising in China on Frid...Read More
Cobalt prices drifted lower again last week in thin trading conditions, with buyers continuing to secure their minimum required volumes, or postponing purchases in a falling market. Low-grade cobalt and high-grade cobalt prices were assessed at $40.35-41.25 per lb, in-warehouse on Friday June 22, down 0.6% and 0.9% respectively over the course of the week. Spot activity has been limited since May...Read More
Antimony prices in both Europe and China have fallen further over the past week, after sentiment was dampened by sluggish demand.Metal Bulletin assessed MMTA standard grade II delivered, duty paid antimony prices at 51,500-52,000 yuan ($7,917-7,993) per tonne on Wednesday June 20, down by 500 yuan from one week ago. "Demand from downstream industries [both] domestically and globally is dull,...Read More
Comex copper prices traded at the lowest point since March 2018 on Tuesday June 26 with threats of a growing trade war weighing on the metals complex. Copper for July settlement on the Comex division of the New York Mercantile Exchange inched down 0.40 cents or 0.1% to $2.9830 per lb. Earlier, the contract touched $2.9795, the lowest since March 26. "Copper has slipped since mid-June due to growin...Read More
Global markets stabilized on the morning of Tuesday June 26 amid easing trade tensions, while three-month base metals prices on the London Metal Exchange consolidated after their weakness on Monday.Copper, nickel and zinc were all up by 0.2%, lead was unchanged, while aluminium and lead were the stragglers - down by 0.1% and 0.3% respectively. On an average basis, the base metals were unchanged th...Read More
Cobalt prices drifted lower again last week in thin trading conditions, with buyers continuing to secure their minimum required volumes, or postponing purchases in a falling market. Low-grade cobalt and high-grade cobalt prices were assessed at $40.35-41.25 per lb, in-warehouse on Friday June 22, down 0.6% and 0.9% respectively over the course of the week. Spot activity has been limited since May...Read More
The hot-rolled (HR) and cold-rolled (CR) steel sheet markets in Russia's central region around Moscow remained weak this week on lower demand than expected during the summer period. The World Cup football tournament, hosted in Russia (June 14-July 15), has had an effect on market activity as well, sources told Metal Bulletin. "Demand was lower than expected even in early June before the World Cup...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia increased this week with new deals and higher offer prices, sources told Metal Bulletin on Tuesday June 26. Market participants are expecting prices to be stable for some time because demand is weak. Import prices have increased globally since May, when buying was scarce in the Middle East because of the Islamic holy month...Read More
China's domestic hot-rolled coil prices have fallen to their lowest in a month on Tuesday June 26 following successive days of decreases.DomesticEastern China (Shanghai): 4,230-4,240 yuan ($647-649) per tonne, down 30 yuan per tonneNorthern China (Tianjin): 4,120-4,140 yuan per tonne, down 30 yuan per tonneHRC futures declined for a fourth day and ended at a month's low, which continued to put pre...Read More