(Kitco News) - Bitcoin is likely to mean-revert towards January 2017 levels of around $900, paving the way for precious metals like silver to prosper, according to research from Bloomberg Intelligence (BI). In a recent webinar, Mike McGlone, senior analyst at BI said that he remains bullish on blockchain technology, but the digital currency market appears to be overvalued. He added that the specul...Read More
(Kitco News) - Gold prices are modestly up in early afternoon U.S. trading Wednesday, but well off session highs as the U.S. stock market posts a dramatic rebound from the lows seen earlier in the session. June Comex gold futures were last up $3.00 an ounce at $1,340.50. May Comex silver was last down $0.117 at $16.28 an ounce.Fears of a global trade war have ratcheted up a notch after China today...Read More
MCX COPPER LIVE TIPSCopper Live – SELL 2 lot Copper at CMP 438.40 for Target small at price 436.80 – 435.50 with SL Above price 440AFTER POST CONTENT Read More
Tips for Zinc – Zinc Hold Call 402 Advised to sell at price 214.25 Achieved 1st Target 213. CMP 212.05. Moving near to 2nd TGT. Profit of 2.20 Points per lotZINC HOLD Call - SELL Mcx Zinc April at CMP 214.25 with SL Above 216.10 for Target 213 - 211.50AFTER POST CONTENT Read More
Nickel Call – SELL Nickel at CMP 875.40 for Target 868 – 862 with SL Above price 882AFTER POST CONTENT Read More
MCX ZINC COMMODITY CALLSZinc Commodity – Zinc Carry Sell Hold call 402 given at price 214.25 Achieved 1st Target 213 Today. Total profit made 1.25 Points per lotTIPS ID 402 : ZINC HOLD Call - SELL Mcx Zinc April at CMP 214.25 with SL Above 216.10 for Target 213 - 211.50AFTER POST CONTENT Read More
(Kitco News) - Although gold is off its session highs, the market continues to hold on to modest gains following a drop in sentiment within the service sector, according to the latest data from the Institute for Supply Management.Wednesday, the ISM said its non-manufacturing index showed a reading of 58.8% for March, down from February's reading of 59.5%. Consensus forecasts were calling for a rea...Read More
Gold has recouped Tuesday’s losses as a trade war between the U.S. and China escalates, says INTL FCStone. After a brief respite in tensions, the U.S. listed items on which it will impose duties, and China responded by doing the same 11 hours later on 106 products, including some agricultural commodities. Copper, oil and the dollar index are all lower, although the decline in the greenback i...Read More
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
World markets are in a funk this morning as the talk of trade wars and tariffs accelerate. China has retaliated with dollar-for-dollar tariffs, creating instability in the global equity markets. After rallying almost 400 points on Tuesday, the Dow is down 600 points this morning. With all the volatility in the equity markets, the metals remain in the same consolidation pattern they have been in fo...Read More
Copper price premiums in Shanghai rose to a 17-month high with market participants hoping for declining import costs following a cut in value-added tax (VAT), market sources told Metal Bulletin on Wednesday April 4.On Wednesday, the premium for copper cathodes on a cif basis rose by $3 to $78 per tonne, the highest level since October 31, 2016, according to Metal Bulletin assessments.The adjustmen...Read More
Base metals prices on the London Metal Exchange dropped throughout the day on Wednesday April 4, with sentiment remaining low after US-China trade tensions escalated. The majority of the complex ended the LME kerb session lower, with only aluminium posting a slight increase of 0.6%. LME copper prices have been volatile, trading within a $200 per tonne window but cutting losses to...Read More
China will cut value-added tax (VAT) on all imported goods by 1 percentage point, 5.9%, effective from May 1, the Finance Ministry and State Administration of Taxation said in a filing late on Wednesday April 4. China currently applies two VAT rates for different products; 17% for almost all products and 11% for some products, including agriculture. The rates will be...Read More
The latest ferro-tungsten and ammonium paratungstate (APT) transactions, bids, offers and assessments in Europe, Vietnam and China, with blue tungsten oxide (BTO) and yellow tungsten oxide (YTO) deals taken into consideration.To view the latest price quotations, follow the links below:China- APT, fob China- Ferro-tungsten, fob ChinaEurope- APT, cif Rotterdam- Ferro-tungsten, in-warehouse Rotterdam...Read More
In a comprehensive interview with Andrea Hotter in the April 2018 issue of Metal Market Magazine, Norilsk Nickel chairman Gareth Penny gave his predictions for electric and hybrid vehicle growth and how the company will move to maximize the value of its products. As the electrification of the global economy continues to increase demand for the metals that Norilsk produces, particularly nickel and...Read More
The Chinese charge chrome index, spot ferro-chrome prices and the UG2 index all slipped on Friday March 30, following lower-than-expected April tender prices from major Chinese stainless steel mills, while ferro-chrome prices in the European and US markets were stable. Major stainless steel mills' April ferro-chrome tender prices lower Chinese charge chrome, spot ferro-chrome prices and UG2...Read More
Metal Bulletin is hosting a free web seminar on Thursday April 5 at 9am London time to discuss the key drivers of the battery raw materials markets, including substitution risk, electric vehicle policy, and supply of lithium, nickel and cobalt. Date Thursday April 5 Time 9am London time Join members of our global battery raw materials team as they discuss: - EV subsidies and government policy in C...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Turkish steel producers started their May bookings with mostly steady prices on Wednesday April 4.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 19,000 tonnes of HMS 1&2 (80:20) at $356 per tonne, 9,000 tonnes of HMS 1&2 (90:10) and 5,000 tonnes of shredded at $361 per tonne, and 5,000...Read More
Aluminium ingot ADC 12 export prices fell after China dealt a serious blow to the raw material market with a blanket 25% tariff on US aluminium scrap.The move by China has meant that more domestic producers are looking to tolling deals to avoid paying the 25% import tax. Under the tolling deals, Chinese secondary alloy producers can import raw materials such as aluminium scrap from overseas and pr...Read More