SHANGHAI, Jun 4 (SMM) –Copper: The SHFE 1807 contract rose above the daily moving average after it fell to a low of 51,490 yuan/mt last Friday night. Technically, LME copper now struggles among several moving averages. We see some upward momentum for it as its KDJ indicator expands upwards. The SHFE 1807 contract now stands firmly above the 51,500 yuan/mt level. We expect LME copper to...Read More
SHANGHAI, Jun 4 (SMM) –Copper: The SHFE 1807 contract rose above the daily moving average after it fell to a low of 51,490 yuan/mt last Friday night. Technically, LME copper now struggles among several moving averages. We see some upward momentum for it as its KDJ indicator expands upwards. The SHFE 1807 contract now stands firmly above the 51,500 yuan/mt level. We expect LME copper to...Read More
Volumes traded on the CME's European aluminium futures premiums contract recorded positive figures for May, attributed to participants looking to position following the US sanctions on Rusal. The duty-paid premium contract rebounded tenfold against continued strength in duty-unpaid volumes, while the duty-unpaid futures were steadily high. In May, 1,785 lots of the Rotterdam duty-paid aluminium pr...Read More
The Comex copper price edged higher on Monday June 4 on a weaker dollar and positive fundamentals for the US economy. Copper for July settlement on the Comex division of the New York Mercantile Exchange rose 2.7 cents or 0.9% to $3.1255 per lb. "This morning, global risk-taking appetite is positive because investors continue to digest the...Read More
The three-month copper and aluminium prices rose slightly on the London Metal Exchange in morning trading on Monday June 4. The copper price ticked $48 higher to $6,944 per tonne, with the market awaiting further developments in wage negotiations at the Escondida copper mine in Chile, which produces 5% of the world's copper supply. "Because relations between the mine's operator and the union have...Read More
The rising trend in the Chinese antimony market continued last week - tightness in concentrate supply and concerns about further production cuts while environmental inspections continue propelled prices there higher. Metal Bulletin assessed the MMTA Standard Grade II delivered duty paid antimony metal price at 52,000-52,500 yuan ($8,111-8,189) per tonne on Wednesday May 30, up 1,000 yuan from...Read More
The Chinese silicon export price dropped on weakening demand from Japanese automakers with some domestic production to resume by mid-June, while European prices followed the Chinese market down.The Chinese grade-553 silicon export price widened downward 0.8% to $1,810-1,900 per tonne on Friday June 1 from $1,840-1,900 per tonne on May 25.Although Japanese traders, the largest buyers of Chinese sil...Read More
Cobalt prices continued to fall during the second half of last week, and prices for both grades converged, amid continuing profit-taking and slower demand from consumers. Metal Bulletin assessed prices for low and high-grade cobalt metal at $42-43 per lb, in-warehouse, on Friday June 1, down 0.8% and 0.9% respectively compared with the midweek assessment. Consumers have taken a step...Read More
June 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...Read More
Almost all cobalt production in Jiangxi province, China, has been suspended due to an ongoing environmental inspection in the region, according to market sources. China's central government has sent inspection teams to 10 provinces, including Jiangxi, to carry out one-month inspections in the region starting on Friday June 1, the Ministry of Ecology and Environment said on its website on Friday. T...Read More
Metal Bulletin is proposing a change to the publication day of its China stainless steel assessments and specifications of that for East Asia to better reflect trading fundamentals and align weekly price movements.From July 11, 2018, the China domestic grade 304 stainless steel cold-rolled coil (2mm) yuan per tonne in-warehouse price and the China domestic grade 430 2mm stainless steel cold-rolled...Read More
US scrap exporters are enjoying short-term relief from the restart of China's North American customs inspections division, but longer-term fears are emerging about stricter guidelines complicating future shipments and trade with that nation.The inspection operations of the Chinese Certification and Inspection Group (CCIC) North America will officially resume on Friday June 8."Due to the need for s...Read More
The North American division of the China National Certification and Inspection Group (CCIC) will resume inspections of scrap shipments following the end of a one-month suspension, CCIC said on Friday June 1. The CCIC's North American division will start accepting inspection applications on Friday June 8 and it takes at least five working days to arrange the date of the inspection, the group said i...Read More
There have been many adjectives used to describe the current president of the United States, both by his supporters as well as his critics. However, words like "tight-lipped, wordless, and quiet," are rarely if ever used to describe Trump. Case in point, an early morning tweet at 7:21 AM EST, one hour and nine minutes before the release of the Labor Department's monthly employment numbers. Simply...Read More
(Kitco News) - While gold could struggle around the $1,300 an ounce level for the next two weeks, the market’s best days this year are stll ahead, said one market analyst.In an interview with Kitco News, George Milling-Stanley, head of gold investments at State Street Global Advisors, said that investors have to wait until after the Federal Reserve’s monetary policy decision on Ju...Read More
Today LME Stock : 01/06/2018Daily LME stock is as follows: Aluminium up by 500MT, Copper up by 6425MT, Lead down by -75MT, Nickel down by -2958MT & Zinc down by -100MT. Read More
(Kitco News) - In a quiet week for economic data, the gold market will be laser-focused on the rapidly approaching Federal Reserve monetary policy meeting.Among some commodity analysts, sentiment in the gold market has turned decisively bearish as prices readjust to a more certain rate hike outlook on June 13 following strong U.S. employment figures and further upside in the U.S. dollar.The May U....Read More
Copper Calls – SELL Copper at CMP 456.50 Add more at price 458 with SL 459.20 for Target 453.50 – 452.20 Read More
ROME (Reuters) - Giuseppe Conte was sworn in on Friday as Italy's prime minister, heading western Europe's first anti-establishment government bent on overhauling European Union rules on budgets and immigration.Conte, a little-known 53-year-old law professor, is backed by the 5-Star Movement which grew out of a grassroots protest network, and the right-wing League who have issued a budget-busting...Read More
(Kitco News) - Wall Street turned bearish on the short-term direction of gold prices while Main Street remained slightly bullish, based on the Kitco News weekly survey.Comex August gold traded on both sides of $1,300 an ounce this week, ultimately softening on Friday in the wake of a stronger-than-forecast U.S. employment report. Nonfarm payrolls climbed 223,000 in May, the Labor Department said.F...Read More