The seaborne coking coal market was largely stable on Thursday May 10 after participants withdrew to the sidelines. Market sources said that a miner had offered a cargo of premium hard coking coal via a tender that was to have concluded at 6pm Singapore time, which is beyond the 5.30pm cut-off time for data collection for Metal Bulletin's daily coking coal indices.Metal Bulletin has proposed that...Read More
Chinese ferrous futures remained subdued during morning trading on Thursday May 10, ending the session little changed from their opening prices after the physical steel and iron ore markets weakened a day earlier.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,587 yuan ($564) per tonne, unchanged October hot-rolled coil: 3,682 yuan per tonne, down 5 yuan per ton...Read More
A 109-day queue for aluminium out of the ISTIM warehouse in Port Klang developed last month following a series of large cancelations on the London Metal Exchange, according to LME data released on Thursday May 10. On-warrant aluminium stocks in Port Klang fell 66% during April leaving just 110,496 of available stock at the ISTIM warehouse. The cancelations followed the announcement of US sanctions...Read More
Silver futures would complement the gold futures that already trade on Hong Kong Exchanges & Clearing (HKEX), chief executive officer Charles Li said in an interview with Metal Bulletin ahead of LME Asia Week.As well, the London Metal Exchange is considering options for LME precious metals as well as hot-rolled coil contracts, Li added.The LME and the World Gold Council teamed up to launch the LME...Read More
Key data from the Wednesday May 9 pricing session in London.Key data from the Wednesday May 9 pricing session in London.Key drivers: - Lack of demand from downstream industries in China due to potential trade war between the United States and China - Surplus of material...Read More
Large-scale tellurium supply commitments to United States-based solar panel manufacturer First Solar could bolster prices for the metal, with some market participants expecting these undertakings to leave the market short a significant amount of spot supply. Canada-based 5N Plus last week announced a three-year contract to supply First Solar with tellurium through to 2021. Although the Canadian fi...Read More
Key data from the Wednesday May 9 pricing session in Shanghai.Cobalt metal - Falling cobalt metal futures prices in China dampened sentiment in the domestic spot market, resulting in lower spot quotations.- The May cobalt contract price on the Wuxi Stainless Steel Exchange in China closed at 573,500 yuan ($90,028) per tonne on Wednesday, down from 623,500 yuan per tonne a week earlier.- Sentiment...Read More
Base metals prices on the London Metal Exchange were more negative than positive on the morning of Thursday May 10, with all of the metals, except for tin (+0.2%) and lead (0.0%), down by an average 0.6%. Aluminium prices led the decline with a 1.1% drop to $2,330 per tonne, while copper prices were down by 0.1% at $6,811 per tonne.Volume on the LME has been below average, with 4,769 lots traded a...Read More
East Asia's stainless steel market strengthened slightly over the past week, with elevated nickel prices keeping mills under pressure to raise their offers.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,230-2,310 per tonne cif East Asian ports for the week ended Wednesday May 9, up $10-60 per tonne from a week earlier. Metal Bulletin's assessm...Read More
Chinese aluminum ingot ADC 12 export prices to main Japanese ports (MJP) hit a six-week high on Wednesday May 9 following the one-month ban on US scrap imports to China, while consumers have looked for alternatives amid rising Chinese prices. Metal Bulletin's price assessment for Chinese aluminium alloy ADC 12 delivered to MJPs jumped to $2,000-2,100 per tonne on Wednesday from $1,970-1990 pe...Read More
Key data from the Wednesday May 9 pricing session in Shanghai.Please click on the above tables to view more in-depth pricing data about these assessments in Metal Bulletin's price book.Key drivers - Export prices rose to a six-week high on concerns that supply of scrap raw materials used in the production of ADC 12 aluminium ingot could tighten after the Chinese government slapped a one-month ban...Read More
The price of imported steel billet and local rebar prices have been mostly unchanged in Egypt this week, sources told Metal Bulletin on Thursday May 10.The country's rebar biggest producer, Ezz Steel, is still offering material at E ?12,528 ($705) per tonne ex-works, including 14% VAT, while Beshay Steel, also a major domestic producer, is offering rebar at E ?12,525 per tonne ex-works including 1...Read More
The catchphrase “follow the money,” popularized by the 1976 film All the Presidents Men, suggested that if you’re looking for a motive behind an event, you simply need to follow the money. In the case of recent price declines in gold, the more appropriate catchphrase would be to “follow the dollar,” or more appropriately, follow the dollar index.The dollar index is th...Read More
Lead Intraday – SELL Lead at CMP 154.85 for Target 153.85 – 153.10 with SL Above price 156AFTER POST CONTENT Read More
Aluminium Tips Online – Aluminium BUY Call 81c given at price 160.20 (160.60+159.80) Triggered SL at price 159.10. Total 1.10 Points per lot SL hitTIPS ID 81c : Aluminium Today - BUY Aluminium at CMP 160.60 Add more if price 159.80 with SL Below 159.10 for Target 161.90 - 162.60AFTER POST CONTENT Read More
Free Copper Call – Copper BUY Call 80c Advised at price 454.85 (455.70+454) Advised to Carry. CMP 458.20. Low risk taker book 3.35 x 2 lot = 6.70 PointsTIPS ID 80c : Copper Carry Call - BUY Copper at CMP 455.7 Add more at price 454 with SL 452.70 for Target 459 - 461AFTER POST CONTENT Read More
Today LME Stock Report : 09/05/2018 Aluminium down by -21100MT,Copper down by -9600MT,Lead down by -450MT,Nickel down by -198MT &Zinc down by -950MT.AFTER POST CONTENT Read More
Aluminium Today – BUY Aluminium at CMP 160.60 Add more if price 159.80 with SL Below 159.10 for Target 161.90 – 162.60AFTER POST CONTENT Read More
Nickel Calls Today – SELL Nickel at CMP 934.80 for Target 926 – 921 with SL Above price 941.60AFTER POST CONTENT Read More
(Kitco News) - Gold and silver prices were near steady levels in early-afternoon U.S. trading Wednesday. Gold market bulls are fighting to hold the yellow metal above critical chart support at $1,300.00, and they have been successful so far, which has stabilized the market for the time being. June Comex gold futures were last down $0.50 an ounce at $1,313.20. July Comex silver was last up $0.073 a...Read More