NICKEL COMMODITY LEVEL TODAYNickel Commodity Level – Nickel SELL Carry Call 8b3 given at price 989.50 Achieved 1st Target 981 Today. Made 980.70 low. Total profit of 8.5 x 2 lot = 17 PointsCALL ID 8b3 : Nickel Carry Call - SELL Nickel at CMP 989.50 for Target Tomorrow 981 - 971 with SL Above price 1004AFTER POST CONTENT Read More
Tips for Nickel – SELL Nickel at CMP 987.50 for Target 980 – 975 with SL Above price 994.50AFTER POST CONTENT Read More
Treasury yields, with technical-chart selling accelerating the move. “We see only limited additional downside potential for gold,” Commerzbank says. Speculators in the futures market have already trimmed their net-bullish positioning since summer, so this form of selling pressure should abate, the bank says. “Meanwhile, the low price level should stimulate physical buying interes...Read More
(Kitco News) - Tuesday was an ugly day in the metals, especially for gold. Silver had its troubles but is holding up much better from a technical perspective. Gold sold off hard, breaking down into a blow-off formation, while silver just hovered around support.For gold bulls, Tuesday's trade should turn out to be bullish with the blow-off pattern selling on heavy volume. Gold is very close to our...Read More
(Kitco News) - As we discussed over the past week, gold's lethargic pattern was suggesting risks to the downside. The inability to break above the $1,322 area, coupled with a resurgent dollar, caused bulls to exit the trade. On Friday, gold had the chance to remain in an uptrend, flirting with the $1,322 area, while the euro was attempting to regain the 1.22 euro/dollar level. Both levels failed a...Read More
SHANGHAI, May 16 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar rebounded to a four-month high of 93.46, and closed at 93.25 last night as the US Treasury yield climbed up and its retail sales data met the expectation. Most LME base metals dipped as the US dollar strengthened. Lead dropped nearly 1.2%. LME copper fell over...Read More
SHANGHAI, May 16 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar rebounded to a four-month high of 93.46, and closed at 93.25 last night as the US Treasury yield climbed up and its retail sales data met the expectation. Most LME base metals dipped as the US dollar strengthened. Lead dropped nearly 1.2%. LME copper fell over...Read More
SHANGHAI, May 16 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar rebounded to a four-month high of 93.46, and closed at 93.25 last night as the US Treasury yield climbed up and its retail sales data met the expectation. Most LME base metals dipped as the US dollar strengthened. Lead dropped nearly 1.2%. LME copper fell over...Read More
The latest news and price moves to start the Asian day on Wednesday May 16.Base metals prices on the London Metal Exchange were mixed again at the close of trading on Tuesday May 15, with aluminium and zinc rising while copper, lead and tin declined. Read more our live futures report.Here are how prices looked at the close of trading:Meanwhile, the new and tighter global regulatory environment has...Read More
Base metals on the London Metal Exchange recorded mixed figures 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. Climbing 0.3% during the afternoon, nickel's three-month price continues to find support above $14,000 per tonne, reaching a high of $14,635 per tonne today. Nickel's core support from t...Read More
Comex copper prices experienced minor buying during midweek trading on Wednesday May 16 morning in the US, with little to push the market in either direction.Copper for July settlement on the Comex division of the New York Mercantile Exchange inched up 0.50 cents or 0.2% to $3.0610 per lb. "In the short term, we envisage LME copper prices to continue consolidating within the converging...Read More
Lower-than-expected mined zinc output and smelter maintenance in China will support the zinc price to stay above $3,000 per tonne this year, according to the leading zinc smelter at LME Week Asia."At the beginning of this year, the industry thought there would be a 120,000 tonnes of growth in mined zinc output, but now it's unlikely. The suspended small mines were not coming back and the grades at...Read More
A shift to a monthly European ferro-chrome benchmark or an index based on a number of regional markets are some ways the negotiated contract figure could be improved to bring more stability and keep it relevant in a sometimes volatile market, ferro-chrome participants told Metal Bulletin.The role of the quarterly European ferro-chrome benchmark is set to continue in the short term, according to so...Read More
Tharisa has acquired a 90% stake in Salene Chrome Zimbabwe Ltd for an undisclosed sum, the South African chrome producer announced on Wednesday May 16.The company acquired the holding from the Leto Settlement Trust, which has family links to Tharisa chief executive officer Phoevos Pouroulis and is the beneficial shareholder of Tharisa's major shareholder, Medway Developments Ltd. Leto will keep a...Read More
Lower-than-expected mined zinc output and smelter maintenance in China will support the zinc price to stay above $3,000 per tonne this year, according to the leading zinc smelter at LME Week Asia."At the beginning of this year, the industry thought there would be a 120,000 tonnes of growth in mined zinc output, but now it's unlikely. The suspended small mines were not coming back and the grades at...Read More
Spot market copper concentrate treatment and refining charges (TC/RCs) rose to 3.5-month highs in mid-May, with the market becoming progressively bearish due to the continued outage at Sterlite Copper's Tuticorin smelter in India. Metal Bulletin's copper concentrates TC/RC index rose by $2.4/0.24 cents over the past two weeks to $70.5/7.05 cents, its highest since the end of January. Terms fo...Read More
The Turkish steel mills have gone quiet in the deep-sea scrap markets once again, sources said on Wednesday May 16.After the news of a UK cargo sold on May 15 at $345 per tonne for HMS 1&2 (80:20) and $366 per tonne for shredded, no more deep-sea transactions have been heard in the market.Baltic Sea scrap suppliers were heard offering HMS 1&2 (80:20) at $360 per tonne cfr, but were ready to sell a...Read More
Comex copper prices experienced minor buying during midweek trading on Wednesday May 16 morning in the US, with little to push the market in either direction.Copper for July settlement on the Comex division of the New York Mercantile Exchange inched up 0.50 cents or 0.2% to $3.0610 per lb. "In the short term, we envisage LME copper prices to continue consolidating within the converging...Read More
Most of the base metals prices on the London Metal Exchange were little changed on the morning of Wednesday May 16, the exceptions were zinc (+0.6%) and tin (-0.5%). Copper was up by 0.1% at $6,818 per tonne.Volume on the LME has been below average, with 3,245 lots traded as at 06.27 am London time. This follows a day of two halves on Tuesday where prices came under pressure as the morning progres...Read More
Tata Steel, "continues to be bullish on steel prices and spreads with the improving demand situation in India," chief executive officer and managing director, TV Narendran, said on Wednesday May 16.Finished steel demand in India is forecast to reach 92 million tonnes in 2018, up from 87 million tonnes in 2017. Indian steel demand will rise to 98 million tonnes in 2019, according to Tata Steel's Ma...Read More