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
Holdings of gold by exchange-traded funds have fallen in recent days after rising during April, points out Commerzbank. The ETFs trade like a stock but track the price of the commodity, with metal put into storage to back the shares. “The gold ETFs tracked by Bloomberg have recorded outflows of 10.5 tonnes so far this week,” Commerzbank says. “Holdings were topped up by 60 tonnes...Read More
Thursday saw a rally in the metals; however, both gold and silver made their highs early in the morning and spent the rest of the day selling off. Gold remains weak as it battles at the $1,310 level. Silver is still stronger than gold and the trade is long silver, short gold. Today is jobs Friday and promises to move the metals in a big way, with the direction to be determined. Based on past jobs...Read More
SHANGHAI, May 4 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index traded rangebound around 92.4 overnight, buoyed by the upbeat economic data. The market was also looking more cues from US-China trade talks.Most LME metals fell, but copper rebounded and hit a weekly high as inventories declined. LME zinc tumbled 1.3% to...Read More
SHANGHAI, May 4 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index traded rangebound around 92.4 overnight, buoyed by the upbeat economic data. The market was also looking more cues from US-China trade talks.Most LME metals fell, but copper rebounded and hit a weekly high as inventories declined. LME zinc tumbled 1.3% to...Read More
SHANGHAI, May 4 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index traded rangebound around 92.4 overnight, buoyed by the upbeat economic data. The market was also looking more cues from US-China trade talks.Most LME metals fell, but copper rebounded and hit a weekly high as inventories declined. LME zinc tumbled 1.3% to...Read More
The latest news and price moves to start the Asian day on Friday May 4.Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Thursday May 3, with zinc diving to its lowest point since August 2017. Read more in our live futures report.Here are how prices looked at Thursday's close:Teck Resources has signed annual zinc concentrate supply deals with Europea...Read More
The latest news and price moves to start the Asian day on Friday May 4.Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Thursday May 3, with zinc diving to its lowest point since August 2017. Read more in our live futures report.Here are how prices looked at Thursday's close:Teck Resources has signed annual zinc concentrate supply deals with Europea...Read More
An overview of the battery raw materials markets and their price moves from the past week. Read More
Base metals on the London Metal Exchange ended the week on a high at the close of trading on Friday May 4, with aluminium's three-month price rocketing 3.5% over the day. The light metal found support during the afternoon, rebounding to a high of $2,367.50 per tonne. Aluminium's cash/three-month spread moved from a backwardation of $1 per tonne earlier in the day, to $20.50b per tonne by clos...Read More
Last week's delivery of more than 60,000 tonnes of zinc into Antwerp's LME-listed warehouses, the largest single inflow since May 2013, has sent the zinc price spiralling lower to fresh 2018 troughs.Zinc's three-month price dropped 1.2% to a low of $2,970 per tonne during morning trading on Friday May 4, and finished the day 2.7% higher at $3,055 per tonne.Yet in response to the spike in inventori...Read More
An overview of the battery raw materials markets and their price moves from the past week. Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsKorea Zinc, the world's largest custom zinc smelter by volume, has agreed to annual zinc concentrate supply contracts based on the treatment charges (TCs) set between Teck Resources and European smelters, Metal Bulletin understands.South Africa and New Zealand's non-exemption from the...Read More
An overview of the battery raw materials markets and their price moves from the past week. Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsKorea Zinc, the world's largest custom zinc smelter by volume, has agreed to annual zinc concentrate supply contracts based on the treatment charges (TCs) set between Teck Resources and European smelters, Metal Bulletin understands.South Africa and New Zealand's non-exemption from the...Read More
Ferrous scrap prices in the major global markets remained firm during the working week from Monday April 30 to Friday May 4, with single exception of the United States.Although Turkish steel producers halted their deep-sea scrap purchases at the end of last week, suppliers have kept their offers strong this week.But the decreases in Turkish import prices seen in previous weeks have only now been r...Read More
The light iron scrap market in the United Kingdom was steady for a fourth week in the week to Friday May 4, with a steady fall in sterling against the dollar in the past fortnight enough to shore up support for prices, industry sources told Metal Bulletin.Market sentiment suggests a potential increase in export demand for British steel scrap because of moves in the dollar-pound exchange rate, whic...Read More
Prices for containerized shredded scrap imports into India went up this week on better levels of demand, market sources told Metal Bulletin on Friday May 4.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was $390.73 per tonne cfr Nhava Sheva on May 4, up by $5.58 week-on-week from $385.15 per tonne cfr Nhava Sheva last week.This week's price rise for containeri...Read More
In 2017, trading volume on the Shanghai Futures Exchange shrank by almost one fifth to 1.36 billion lots, mainly led by a drop in rebar and bitumen trading, official data shows, yet trading turnover rose by 5.8% to 89.9 trillion yuan ($14.1 trillion). The SHFE's trading turnover accounted for a 47.9% share of China's futures markets, followed by Dalian Commodity Exchange, which accounted for...Read More
Comex copper prices dipped Friday May 4 morning in the US with a rebounding dollar sinking the latest rally.Copper for July settlement on the Comex division of the New York Mercantile Exchange fell 0.55 cents or 0.2% to $3.0750 per lb. Yesterday, Unites States non-ferrous scrap exports to China were brought to a halt on news that the Chinese government has implemented a 30-day suspension on i...Read More