(Kitco News) - Gold prices eased marginally after a Commerce Department report Thursday showed that U.S. orders for durable goods fell by 1.7% during April. Comex June gold was last down $1.50 to $1,302.90 an ounce. Consensus expectations compiled by various news organizations called for durables to be around 1% to 1.2% lower. The decline came on the heels of two straight monthly increases....Read More
Centamin Plc (LSE: CEY; TSX: CEE), which operates the Sukari Gold Mine in Egypt, has trimmed its production forecast for 2018. The company says open-pit tonnage is ahead of schedule but grades are below budget. Also, underground output is 10% below its forecast. “As a result of persisting low grades from the transitional zone in the open pit, combined with lower development grade from unde...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
On Thursday, the bottoms held in gold and the metal rallied over $15, going back above $1,300. The bounce was expected based on the pattern that gold had been trading the last couple of weeks. The $1,280 level held, and the rally was on as gold looks to make a run at $1,320. Did the cancelling of the North Korean summit help gold prices? In our opinion, the answer would be no; gold appeared to be...Read More
Tin prices on the London Metal Exchange traded at their lowest figure since January, closing 1.3% lower on Friday May 25, while nickel and lead prices consolidate gains to end the week higher. Falling below $20,000 per tonne for the first time since January, tin's three-month price continues to drift lower, recording a weekly price fall just short of 4%. The metal's cash/three-month spread ha...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Comex copper prices declined on Friday May 25 ahead of the holiday weekend, with a surging dollar sinking the entire base metals complex. Copper for July settlement on the Comex division of the New York Mercantile Exchange dipped 2.30 cents or 0.7% to $3.0730 per lb. The red metal has been unable to set any sustainable price direction this week. "The...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Key data form the pricing session in the week ending Friday May 25. China China domestic ferro-chrome prices were stable week on week with thin deals in the spot market while market participants waited for the release of June tender prices to provide market direction. Some small ferro-chrome plants in...Read More
Key data form the pricing session in the week ending Friday May 25. China China domestic ferro-chrome prices were stable week on week with thin deals in the spot market while market participants waited for the release of June tender prices to provide market direction. Some small ferro-chrome plants in...Read More
Representatives from Chinese manganese alloy smelters held another meeting on Thursday May 24 to discuss manganese ore prices, according to market sources. It was the third such meeting since early March, when smelters agreed not to pay more than $8 per dry metric tonne unit (dmtu), on a cif basis, for low-grade manganese ore, sparking a protracted decline in prices. During the discussions on Thur...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
An overview of China's minor metals markets in the week of May 21-25 and the reasons for any price moves.Read More
Global ferrous scrap prices softened during the week ended Friday May 25, with falling Turkish scrap prices and the country's weaker lira muting trade activity both within the country and internationally.The fall in the value of the lira reduced the number of cargoes booked this week, leading to weaker offer prices. The markets in the United States and India both stagnated as a result of the Turki...Read More
The UK light iron scrap market was stable over the past week, for the seventh week in a row, but downward pressure is expected to come in the near term after a fall in export prices, industry sources told Metal Bulletin on Friday May 25.The market has been steady since mid-April, since which time sterling has fallen in value against the dollar - by about $0.10 to $1.338 on May 25. This has shored...Read More
The UK inter-merchant price for austenitic alloy steel scrap was unchanged over the past week, with nickel costs remaining high, sources told Metal Bulletin on Friday May 25.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?1,000-1,040 ($1,338-1,391) per tonne delivered on Friday."There is more material available at the current higher price," one UK trad...Read More
Comex copper prices declined on Friday May 25 ahead of the holiday weekend, with a surging dollar sinking the entire base metals complex. Copper for July settlement on the Comex division of the New York Mercantile Exchange dipped 2.30 cents or 0.7% to $3.0730 per lb. The red metal has been unable to set any sustainable price direction this week. "The...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker on the morning of Friday May 25, down between 0.2% and 0.6%, with copper down by 0.6% at $6,872 per tonne. Zinc was the single exception, up by a marginal 0.1%.Volume on the LME has been average, with 6,612 lots traded as of 7.34 am London time. This follows a general day of firmness on Thursday, when all the...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Global lithium battery-grade market stabilizes after prices decreased in recent weeks, producers and consumers' price struggle persists due to unmatched price expectations between both sides of the market. Global lithium market unchanged Mismatch of price expectation between two sides of the market persists Lithium producers expect prices and market activity to pick up Downstream consumers wait fo...Read More