China ended steel production in all of the country's illegal induction furnaces by the end of June last year, it ha claimed.Most operators in China are primarily small private mills that use low-quality scrap to produce substandard rebar. This is mixed with grade III (HRB400) rebar and sold at a discount to construction contractors.For a long period, the government had neither a record of nor cont...Read More
Renewed concerns about a potential trade war as a direct result of proposed tariffs on steel and aluminum has resulted in both a lower U.S. dollar as well as buyers accumulating gold. Gold futures are currently trading up $15.50 at $1335.40. Last week President Donald Trump proposed the implementation of steel and aluminum tariffs. This proposal has met with global and internal resistance. Nonethe...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
1. New virtual reality (VR) exhibits were the rave at this year’s PDAC. Participants could put on VR glasses and experience 3D versions of open pit or underground mines. Others let their audience feel what it’s like to be in control of heavy mining machinery or part of an emergency situation.#PDAC2018 Booth Highlights: Fun virtual reality experience that will help mitigate #risks in #m...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
The latest news and price moves to start the Asian day on Tuesday March 6.Copper and tin bucked the trend as base metals closed lower on the London Metal Exchange on Monday March 5. Read more in our live futures report.Here are how LME prices looked at Monday's close:The largest zinc delivery in nearly five years into LME-approved warehouses in New Orleans has swung the zinc cash/three-month...Read More
The latest news and price moves to start the Asian day on Tuesday March 6.Copper and tin bucked the trend as base metals closed lower on the London Metal Exchange on Monday March 5. Read more in our live futures report.Here are how LME prices looked at Monday's close:The largest zinc delivery in nearly five years into LME-approved warehouses in New Orleans has swung the zinc cash/three-month...Read More
The three-month copper price rebounded over $7,000 per tonne for the first time this month at the close on Tuesday March 6, with the metal undergoing a short-covering rally. "Given the drop in open interest so far this week, LME copper seems to be experiencing a short-covering rally. But fresh buying needs to emerge to make the LME copper strength sustainable," Boris Mikanikrezai, Metal Bulletin a...Read More
The changing dynamics of bauxite and alumina markets have demanded an evolution in the means of pricing them. The alumina market - and the way it is priced - has transitioned over the past 10 years. Fixed-price, long-term contracts, agreed as a percentage of the aluminium price on the London Metal Exchange, have instead transformed into contracts tied to third-party reference prices or indices, in...Read More
Base metals prices on the London Metal Exchange were higher across the board during morning trading on Tuesday March 6 - with the complex beginning to recover from Monday's weakness. Zinc prices hit a fresh two-month low yesterday after 78,950 tonnes were delivered into LME-approved warehouses in New Orleans. But the three-month zinc price was $26.50 higher per tonne this morning despite 14,175 to...Read More
Ganzhou Tungsten Association (GTA) has raised its tungsten price forecasts for March in line with the price recovery in the spot market after the Chinese New Year break and due to strong expectations for tighter supply in tungsten concentrates in March. The China-based association forecast average prices for black tungsten concentrate 65% and ammonium paratungstate (APT) in March at 113,000 yuan (...Read More
The Chinese vanadium market followed European prices upward last week, in its first full week since returning from the Chinese New Year break. Meanwhile, the US and European markets continued to strengthen on thinning stocks and healthy spot demand. Chinese vanadium prices surge after emerging from Chinese New Year European market continues uptrend in light of supply constraints US ferro-vanadium...Read More
The changing dynamics of bauxite and alumina markets have demanded an evolution in the means of pricing them. The alumina market - and the way it is priced - has transitioned over the past 10 years. Fixed-price, long-term contracts, agreed as a percentage of the aluminium price on the London Metal Exchange, have instead transformed into contracts tied to third-party reference prices or indices, in...Read More
Ganzhou Tungsten Association (GTA) has raised its tungsten price forecasts for March in line with the price recovery in the spot market after the Chinese New Year break and due to strong expectations for tighter supply in tungsten concentrates in March. The China-based association forecast average prices for black tungsten concentrate 65% and ammonium paratungstate (APT) in March at 113,000 yuan (...Read More
The Chinese vanadium market followed European prices upward last week, in its first full week since returning from the Chinese New Year break. Meanwhile, the US and European markets continued to strengthen on thinning stocks and healthy spot demand. Chinese vanadium prices surge after emerging from Chinese New Year European market continues uptrend in light of supply constraints US ferro-vanadium...Read More
Cobalt prices rose closer to $40 per lb on Friday March 2 when suppliers raised their offers again, confident that buyers will soon have to book at higher levels on bullish expectations for electric vehicle batteries and good demand from the super-alloys sector.Metal Bulletin's benchmark low-grade cobalt price climbed to $38.80-39.85 per lb from $38.75-39.70 per lb on Wednesday February 28, while...Read More
Turkish steel producers have continued to book deep-sea scrap for April amid strong demand for their finished steel products, sources said on Tuesday March 6.Imported scrap prices into Turkey have risen further with the recent bookings, sources told Metal Bulletin.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $374.75 per tonne and...Read More
Limited offers and bullish sentiment resulted in import prices for steel billet in Southeast Asia rising further over the past week and those for slab in the wider region including East Asia to narrow upward.BilletMetal Bulletin's assessment of import prices for billet in Southeast Asia was $560-575 per tonne cfr for the week ended Monday March 5, up $20 per tonne from a week earlier.Numerous deal...Read More