MCX LEAD CALL ONLINELead Call – SELL Lead at CMP 158.30 for Target 157.50 – 157 with SL Above price 159.05. RISK taker trade with 2 lotsAFTER POST CONTENT Read More
(Kitco News) - Gold is getting closer to our $1,280 target, making an overnight low of $1,284. It appears the sellers are running out of steam but should have one more burst to the downside. The $1,280 level should be a solid entry level with the possibility of going down to $1,260. Since the highs of April 11, gold has dropped about 6% and is completing the downside move. Volume is starting to dr...Read More
(Kitco News) - Gold is an attractive investment on the horizon, but there is no reason to jump into the market at this moment, according to one fund manager.In a recent interview with Kitco News, Keith Dicker, chief investment officer and president of IceCap Asset Management, said that he personally likes the precious metals sector, but has yet to add any to his firm’s portfolio. He expects...Read More
LONDON, May 17 (Reuters) - Aluminium prices slipped on Thursday after inventories increased, showing availability of supplies that could fill a gap if U.S. sanctions on Rusal are not lifted.On-warrant aluminium stocks in warehouses certified by the London Metal Exchange - inventories that are not earmarked for delivery - surged by 153,075 tonnes or 18 percent on Wednesday, LME data showed on Thurs...Read More
SHANGHAI, May 17 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar surged to a high of 93.63 last night on the market's higher expectations of interest rate hikes. Weak eurozone data released last night also drove the US dollar. Base metals saw mixed trading as LME lead, tin, and nickel inched down while the re...Read More
SHANGHAI, May 17 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar surged to a high of 93.63 last night on the market's higher expectations of interest rate hikes. Weak eurozone data released last night also drove the US dollar. Base metals saw mixed trading as LME lead, tin, and nickel inched down while the re...Read More
SHANGHAI, May 17 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar surged to a high of 93.63 last night on the market's higher expectations of interest rate hikes. Weak eurozone data released last night also drove the US dollar. Base metals saw mixed trading as LME lead, tin, and nickel inched down while the re...Read More
The latest news and price moves to start the Asian day on Thursday May 17.Base metals prices on the London Metal Exchange remained on split paths at the close of trading on Wednesday May 16, with low volumes traded and broad consolidation in effect across the complex amid a surging dollar. Read more in our live futures report.Here are how prices looked at the close of trading:UC Rusal continues to...Read More
The latest news and price moves to start the Asian day on Thursday May 17.Base metals prices on the London Metal Exchange remained on split paths at the close of trading on Wednesday May 16, with low volumes traded and broad consolidation in effect across the complex amid a surging dollar. Read more in our live futures report.Here are how prices looked at the close of trading:UC Rusal continues to...Read More
Base metals on the London Metal Exchange ended mostly higher at the close of trading on Thursday May 17, with aluminium's three-month price down 1% after a huge re-warranting of 138,650 tonnes at Port Klang this morning. The light metal's cash/three-month spread remains in a backwardation, moving from $23b per tonne earlier in the day to a current reading of $10b per tonne. The re-warranting...Read More
A large rewarranting of aluminium in Malaysia on Thursday May 17 stirred up slightly bullish sentiment in Europe's physical aluminium market. More than 138,000 tonnes were rewarranted in Port Klang in Malaysia on Thursday morning, pushing on-warrant stock in the Malaysian port up a meteoric 141% to 266,625 tonnes. Global on-warrant stocks jumped 18% overnight to 996,875 per tonne. The latest rewar...Read More
The CME Group's growing share of global trade in recent years has been driven by its increasingly global reach since its commercial push in base metals began in 2012, its global head of metals Young-Jin Chang told Metal Bulletin this week.In the first quarter, CME Group posted record trading volumes with average daily metals trading volumes up by 39% year on year and daily option volumes...Read More
Key data from the Wednesday May 16 pricing session in Europe.Key drivers - The ferro-titanium spot market moved down within its trading range, with about 280 tonnes of alloy reported to have been traded. - Most of the tonnage was reported sold at above $5 per kg, delivered duty paid, with less than 50 tonnes sold at $4.25-4.65 per kg. There is a disparity between what most producers have reported....Read More
New smelters and expansions at a suite of Chinese copper smelting companies will create fresh demand for concentrates from the third quarter of this year.Major smelters starting up in the coming months include Chalco's Ningde smelter and Lingbao Jincheng Metallurgical, while Tongling's Ausmelt project is due later this year.Having been beset by a series of delays, Chinese copper smelting expansion...Read More
The sharp rally in cobalt prices over the past two years has accelerated the adoption of cobalt scrap in the production of cobalt metal and salts, including cobalt sulfate, Chinese market participants told Metal Bulletin. The boom in cobalt scrap demand has come at a time when cobalt prices have almost doubled in a year due to a bullish outlook on electric vehicles (EVs) consumption. Cobalt is one...Read More
Turkish deep-sea scrap import prices fell sharply on Thursday May 17 on news of a fresh European cargo being sold on the day.The country's steel producers were trying to get lower prices because of the weak demand in the domestic finished steel markets, sources said.A steel mill in the Iskenderun region booked the European cargo, comprising 25,000 tonnes of HMS 1&2 (75:25) and 10,000 tonnes of bon...Read More
Chinese aluminium ingot ADC 12 export prices to main Japanese ports (MJP) hit a record high on Wednesday May 16, pushed up by a tight raw material market in China after the temporary one-month shutdown of the China Certification & Inspection Group's (CCIC) North American office, which stopped all scrap imports to China immediately.Metal Bulletin's price assessment for Chinese aluminium alloy ADC 1...Read More
German steelmakers have settled their monthly scrap contracts for May at unchanged prices due to a balance in supply and demand, sources told Metal Bulletin.Metal Bulletin's monthly price assessment for domestic grade-E3 scrap in Germany for May was ?,?280-300 ($331-354) per tonne delivered, unchanged from last month."Demand for scrap [in Germany] is good, but also there is no...Read More
The CME Group's growing share of global trade in recent years has been driven by its increasingly global reach since its commercial push in base metals began in 2012, its global head of metals Young-Jin Chang told Metal Bulletin this week.In the first quarter, CME Group posted record trading volumes with average daily metals trading volumes up by 39% year on year and daily option volumes...Read More
The sharp rally in cobalt prices over the past two years has accelerated the adoption of cobalt scrap in the production of cobalt metal and salts, including cobalt sulfate, Chinese market participants told Metal Bulletin. The boom in cobalt scrap demand has come at a time when cobalt prices have almost doubled in a year due to a bullish outlook on electric vehicles (EVs) consumption. Cobalt is one...Read More