(Kitco News) - Sentiment remains extremely volatile in the gold market as hedge funds liquidated most of their newly acquired bullish positions and added to their bearish bets, according to the latest trade data from the Commodity Futures Trading Commission.“Recently established gold longs got squeezed once again with quarter-end dollar demand and what turned out to be a temporary easing of...Read More
Mcx Nickel Carry – Nickel SELL Carry Call 49e given at price 862 Achieved 1st Target 854. CMP 854. Total Profit of 8 x 2 lot = 16 Points49e : Nickel Carry Call - SELL Nickel 2 lot at CMP 862 for Target on monday at price 854 - 850 with SL Above price 871AFTER POST CONTENT Read More
Prices in the global billet market continued to trend downward in the week ended Friday April 6, spurred by a continuing decline in Chinese export billet prices as well as a recent sharp drop in import scrap prices in Turkey.Metal Bulletin's daily index for Northern European HMS 1&2 (80:20) closed on Friday at $348.78 per tonne cfr, down by $18.27 per tonne week-on week, while the daily index for...Read More
Prices in the global billet market continued to trend downward in the week ended Friday April 6, spurred by a continuing decline in Chinese export billet prices as well as a recent sharp drop in import scrap prices in Turkey.Metal Bulletin's daily index for Northern European HMS 1&2 (80:20) closed on Friday at $348.78 per tonne cfr, down by $18.27 per tonne week-on week, while the daily index for...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Monday April 9, with only lead and zinc bucking the trend.Aluminium's three-month price climbed the most, increasing 4.2% to close at $2,139 per tonne, the highest since March 6. The price has soared since the Friday April 6 announcement that the US had sanctioned and frozen the assets of Oleg Deripaska a...Read More
Volume traded on the London Metal Exchange has rocketed since the United States Treasury sanctioned and froze the assets of Oleg Deripaska and UC Rusal. The US sanctioned and frozen the assets that are subject to US jurisdiction on Friday April 6, prompting bullish sentiment and expectations of tightness in the US aluminium market. Some 29,823 lots of aluminium had traded on the LME as of 3pm Lond...Read More
The Asian aluminium market is considering the impact on aluminium premiums after the US sanctioned and froze the assets of Oleg Deripaska and UC Rusal, with responses mixed among Asian industry participants so far.The US' announcement last Friday has prompted bullish sentiment and expectations of tightness in the US aluminium market, but reactions from Asia on the impact on its domestic aluminium...Read More
European ferro-silicon prices moved down last week under pressure from low demand while prices in the United States continued on a downward trend.Metal Bulletin assessed the price of Europe-origin ferro-silicon, lumpy, basis 75% Si, at ?,?1,550-1,650 ($1,903-2,026) per tonne on Friday April 6, down by 4.5% from the previous assessment.Spot market activity slowed last week, with some market partici...Read More
Chinese tungsten concentrate prices came under pressure last week because of weak buying interest, with exporters of ammonium paratungstate (APT) and ferro-tungsten adjusting their offers downward.More miners are expected to restart operations, which depressed tungsten concentrate prices in ChinaBuying interest in APT decreasedChinese holiday slows down the tungsten market in both China and Europe...Read More
Cobalt prices consolidated their recent gains last week, underpinned by strong underlying demand, but they rose at a slower pace than was seen in March.Metal Bulletin assessed low-grade cobalt prices at $43.25-44.25 per lb, in-warehouse, on Friday April 6. This was up from the midweek assessment of $42.85-44.25 per lb, and the assessment on March 30 at $42.50-44.25 per lb.High-grade cobalt metal p...Read More
Reviews by Hydro and a third-party environmental consultancy have found no indications of contamination from the company's Alunorte alumina refinery in Brazil, Hydro said on Monday April 9.Following severe rainfall in Brazil's northern state of Par?? in February, concerns over possible water contamination led the local authorities to order Hydro to operate Alunorte at 50% of its capacity. Hyd...Read More
Low grade manganese ore prices clawed back some recent losses on Friday April 6, boosted by producer offers at pre-Easter levels. Low grade prices rebound after sharp decline High grade prices keep sliding Chinese domestic alloy prices hold during QingmingMetal Bulletin's 37% manganese ore index, cif Tianjin rose 17 cents to $8.06 per dry metric tonne unit (dmtu). Metal Bulletin's 37%...Read More
PCC BakkiSilicon will start producing silicon at its smelter in H??sav?-k on the north coast of Iceland on Wednesday April 11, an industry source told Metal Bulletin. The company, a subsidiary of German holding company PCC SE, has already tested production from the plant's two furnaces, each with an annual production capacity of 16,000 tonnes of silicon metal. "The ramp-up of production will start...Read More
Antimony prices remained under pressure last week in both Europe and China, amid sluggish demand and increasing availability.Metal Bulletin assessed the MMTA standard grade II antimony in-warehouse Rotterdam price at $8,450-8,550 per tonne on Friday April 6, unchanged from Wednesday's assessment, when prices moved down from $8,500-8,660 per tonne.The trioxide grade antimony price, in-warehouse Rot...Read More
The Turkish steel mills went quiet again in the deep-sea scrap markets at the beginning of this week, but they are still expected to book more scrap for May, sources said on Monday April 9.After booking a number of deep-sea cargoes in the past week, the mills stepped back from the market on April 6.But market participants expected more cargoes to change hands over the rest of the week, Metal Bulle...Read More
Turkish domestic ship scrap prices have fallen slightly with the Turkish lira weakening against the US dollar, while auto bundle scrap prices remained flat, sources said on Monday April 9.Metal Bulletin's weekly price assessment for melting scrap from shipbreaking in the Turkish domestic market fell to $341-350 per tonne delivered, down from last week's $343-353 per tonne.The downward movement in...Read More
The challenge facing the world's major copper miners is how to tread the fine line between keeping capital expenditure in check while bringing new capacity online to take advantage of future higher prices. With memories of the 2008-09 global financial crisis fresh in the minds of company executives and management boards, the focus over the past several years has been on cutting costs, selling non-...Read More
Comex copper prices were in consolidation mode in start-on-the-week trading while markets await further clarity on the possibility of a trade war breaking out between the United States and China.Copper for May settlement on the Comex division of the New York Mercantile Exchange inched down 0.25 cents or 0.1% to trade recently at $3.0560 per lb. Talks are intensifying between the world's two e...Read More
Base metals prices on the London Metal Exchange are for the most part stronger this morning, Monday April 9. Zinc is the exception with a 0.6% decline, while the rest are up between 2.8% for aluminium ($2,113 per tonne) and 0.2% for tin. Copper prices are up by 1.1% at $6,831 per tonne.Volume has been extremely high at 24,925 lots - the bulk of that has been seen in aluminium (11,180 lots) where t...Read More
Indian steelmaker Jindal Steel and Power (JSPL) achieved its highest-ever quarterly production of crude steel in January-March 2018 after a new blast furnace began operating, the firm said on Monday April 9.Steel production at JSPL's Indian production sites came to 1.26 million tonnes over the three-month period, which was an annual rise of 350,000 tonnes compared with 910,000 tonnes in January-Ma...Read More