Just two hours before the Cambridge House International Mining Investment Conference began in Vancouver on Tuesday, the gold price broke critical support at $1300. After trying repeatedly for three months, the safe-haven currency had been unable to break out above multi-year resistance at $1375. As mentioned last week in this column, surging crude oil on the back of Middle East tensions had been s...Read More
(Kitco News) - Gold prices are once again modestly lower in early U.S. trading Friday. Keener risk appetite in the marketplace recently is keeping demand away from the safe-haven metals.And a strong U.S. dollar continues to limit the upside in gold and silver. June Comex gold futures were last down $1.80 an ounce at $1,287.60. July Comex silver was last down $0.031 at $16.45 an ounce.World stock m...Read More
SHANGHAI, May 18 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs the US Treasury yield rose and with positive US economic data and a weakened euro, the US dollar hovered at five-month highs and closed 0.1% higher at 93.48 overnight.The US 10-year Treasury note yield hit a multiyear high Wednesday, topping 3.1% for the first...Read More
SHANGHAI, May 18 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs the US Treasury yield rose and with positive US economic data and a weakened euro, the US dollar hovered at five-month highs and closed 0.1% higher at 93.48 overnight.The US 10-year Treasury note yield hit a multiyear high Wednesday, topping 3.1% for the first...Read More
SHANGHAI, May 18 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs the US Treasury yield rose and with positive US economic data and a weakened euro, the US dollar hovered at five-month highs and closed 0.1% higher at 93.48 overnight.The US 10-year Treasury note yield hit a multiyear high Wednesday, topping 3.1% for the first...Read More
The latest news and price moves to start the Asian day on Friday May 18.Base metals prices on the London Metal Exchange ended mostly higher at the close of trading on Thursday May 17, with the three-month aluminium contract down 1% after a huge rewarranting of 138,650 tonnes at Port Klang in Malaysia. Read more in our live futures report.Here are how prices looked at the close of trading:The...Read More
The latest news and price moves to start the Asian day on Friday May 18.Base metals prices on the London Metal Exchange ended mostly higher at the close of trading on Thursday May 17, with the three-month aluminium contract down 1% after a huge rewarranting of 138,650 tonnes at Port Klang in Malaysia. Read more in our live futures report.Here are how prices looked at the close of trading:The...Read More
Tight supply in the US market pushed billets to another record high, while European premiums edged lower in a competitive and active market.The US billet market saw the most change, climbing 6% to reach a fresh high. The move up in the US helped push the premium in Brazil to its highest in more than two years.Ali billet upcharge sets recordThe 6063 aluminium spot billet upcharge set a record on Fr...Read More
Base metals on the London Metal Exchange had a mixed end to the week at the close of trading on Friday May 18, with complex consolidation resisted by nickel's steady gains. Climbing 1% during the afternoon, nickel reached a daily high of $14,870 per tonne. The metal's declining inventories are contributing to its price rise, with total LME stocks falling 5,856 tonnes on the week. Nickel'...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Key data from the pricing sessions in the week ending Friday May 18.China Chinese ferro-chrome spot prices rose further, buoyed by rising chrome ore prices.Potential supply cuts to major ferro-chrome production hubs following environmental inspections. South Korea and Japan Korea FeCr market on an...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Physical iron ore prices weakened on Friday May 18, in line with drops in the rebar and futures markets, although earlier increases mean the week-on-week change was minimal.The seaborne coking coal market is in stalemate with a widening gap between bids and offers. Taiwanese scrap import prices widened...Read More
Key data from the pricing sessions in the week ending Friday May 18.China Chinese ferro-chrome spot prices rose further, buoyed by rising chrome ore prices.Potential supply cuts to major ferro-chrome production hubs following environmental inspections. South Korea and Japan Korea FeCr market on an...Read More
Sterlite's refined copper smelter, Tuticorin, will remain closed for another 20 days after the local court adjourned the next hearing on Sterlite's appeal against a decision not to renew consent of the smelter operation, Metal Bulletin understands. The next hearing to challenge the pollution control board's decision will be held on June 6, according to local media reports. Tuticorin is a refined c...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The UK inter-merchant price for austenitic alloy steel scrap has risen by ?20-40 per tonne over the past week, following an increase in nickel values, sources told Metal Bulletin on Friday May 18.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?1,000-1,040 ($1,352-1,406) per tonne delivered on Friday, compared with ?960-1,020 per tonne on May 11."UK m...Read More
Global ferrous scrap prices headed in differing directions during the working week ended Friday May 18, with prices in the bulk sector losing ground while prices for containerized material to Taiwan pushed upward.Turkish scrap import prices slid on lackluster finished steel demand with the start of the Islamic holy month of Ramadan, while prices for exports from the United States fell in two deals...Read More
The UK light iron scrap market was unchanged in the past week, marking a stable level in prices since April 6 in the week to Friday May 18, with a weaker sterling against the dollar since mid-April increasing buying interest for British scrap exports and shoring up support for domestic prices, industry sources told Metal Bulletin.This week a steel mill in Turkey, a key destination for steel scrap...Read More