Base metals traded on the London Metal Exchange are for the most part consolidating after recent weakness, the exceptions are aluminium prices that are up by 0.7% at $2,147 per tonne and lead prices that are down by 0.5% at $2,490 per tonne. The rest are little changed, with copper prices recently quoted at $6,943 per tonne.Volume has been average with 8,708 lots traded as of 07.12 am London time....Read More
As competition in the global steel markets remains fierce, Metal Bulletin provides an update on the new, progressing and closed trade cases from around the world in February 2018.The case list below includes only updates. For other continuing cases this year, see the update for January.1.HDG.2.Stainless coil, sheet. 3.OCTG. 4.Welded pipe. 5.Cold-rolled, coated flat-rolled steel. Read More
Robust nickel prices and fewer firm offers pushed prices up in East Asia's stainless steel markets over the past week despite weak demand.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm cold-rolled coil was $2,250-2,330 per tonne cif East Asian ports for the week ended Wednesday February 28, widening upward by $10 per tonne from a week earlier.Metal Bulletin's assessment of p...Read More
* MoF flow data for week-ended Feb 24 - Tentative Japan moves intofor-bonds. * Bargain-hunting by some as JPY strengthened, offshore bond prices fell. * Net Y201.3 bln foreign bonds bought against Y512.6 bln sales previousweek. * January saw Japanese buy a net Y1.3887 trln in foreign bonds. * Volume as of late in foreign bonds off, some await stronger JPY, @105.00. * Japanese also bought net Y45 b...Read More
Yesterday’s testimony by Jerome Powell, the recently appointed chairman of the Federal Reserve, significantly underlined the fact that we are now deeply immersed in a period of quantitative normalization.In response to the economic meltdown and the recession that resulted from bank failures, an outcome of their lending practices, starting in 2008 the Federal Reserve initiated a systematic ap...Read More
(Kitco News) - In its continued attempted to promote innovation in the mining Sector, Goldcorp is giving four companies the opportunity to present their ideas to #disruptmining and win $1 million in potential investment capital.Luis Canepari, vice-president of technology at Goldcorp (NYSE: GG, TSX: G,) said the company went through hundreds of submissions to find the best of the best in innovation...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
SHANGHAI, Feb 28 (SMM) - China’s official manufacturing purchasing managers’ index (PMI) stood at 50.3 in February, down from 51.3 in January, according to data released by the National Bureau of Statistics on Wednesday February 28. The country’s non-manufacturing PMI this month stood at 54.4, down from 55.3 in January. For editorial queries, please contact Daisy Tseng...Read More
SHANGHAI, Feb 28 (SMM) - China’s official manufacturing purchasing managers’ index (PMI) stood at 50.3 in February, down from 51.3 in January, according to data released by the National Bureau of Statistics on Wednesday February 28. The country’s non-manufacturing PMI this month stood at 54.4, down from 55.3 in January. For editorial queries, please contact Daisy Tseng...Read More
SHANGHAI, Feb 28 (SMM) - China’s official manufacturing purchasing managers’ index (PMI) stood at 50.3 in February, down from 51.3 in January, according to data released by the National Bureau of Statistics on Wednesday February 28. The country’s non-manufacturing PMI this month stood at 54.4, down from 55.3 in January. For editorial queries, please contact Daisy Tseng...Read More
The latest news and price moves to start the Asian day on Wednesday February 28.Base metals prices on the London Metal Exchange were mostly lower at the close on Tuesday February 27, with the dollar index surging to its highest level since the start of the month. Read more in our live futures report.Here are how LME prices looked at Tuesday's close:Comex copper prices were again trading in negativ...Read More
The latest news and price moves to start the Asian day on Wednesday February 28.Base metals prices on the London Metal Exchange were mostly lower at the close on Tuesday February 27, with the dollar index surging to its highest level since the start of the month. Read more in our live futures report.Here are how LME prices looked at Tuesday's close:Comex copper prices were again trading in negativ...Read More
Metal Bulletin has launched two assessments to track spot and annual refining charges (RC) for blister copper imported to China following a month-long consultation. Blister copper, an intermediate copper product used by smelters for refined copper production, is known as one of the first options for scrap replacement. Import volumes of the increasingly popular blister copper, together with anodes,...Read More
Vale is reevaluating its plans for its Vale New Caledonia nickel project due to its improved results and the positive impact of higher cobalt prices, chief executive officer Fabio Schvartsman said on Wednesday February 28."We are waiting to see where things are going to move forward to in order to make a decision in the VNC situation," he told analysts during a conference call. "It is clear that t...Read More
Comex copper prices softened in the US morning on Wednesday February 28, with a stronger dollar and lower-than-expected Chinese data weighing on the base metals complex. Copper for May settlement on the Comex division of the New York Mercantile Exchange fell 3.10 cents or 1% to $3.1555 per lb. Earlier, the contract touched $3.1525, the lowest since February 13. Earlier this morning, China's manufa...Read More
A second shipment of alumina produced at Alumina Partners of Jamaica (Alpart) has recently been loaded from Jamaica's Port Kaiser, according to Sun Jing, a senior engineer and manager at China's Jiuquan Iron & Steel (Group) Co (Jisco).The global financial crisis of 2008-09 and soaring energy costs had forced the closure of the plant in May 2009, but Jisco reopened it in June last year. An initial...Read More
The Jamalco alumina refinery at Clarendon in Jamaica will end its reliance on oil within the next two or three years when it converts to using natural gas, its managing director has said.A new heat and power facility, developed through a joint agreement with New Fortress Energy, will produce 100 MW of energy, of which 94 MW will be exported to the country's grid, Austin Mooney said."The natural ga...Read More
The environment secretariat in Brazil's northern state of Par?? has ordered Hydro to cut by 50% the production of calcine alumina at its Alunorte refinery, the Norwegian aluminium producer said on Wednesday February 28. The reduction must be completed by March 1, the secretariat determined. A failure to meet the deadline will mean a daily fine of nearly 500,000 Brazilian Reais ($154,664). While it...Read More
Vale is reevaluating its plans for its Vale New Caledonia nickel project due to its improved results and the positive impact of higher cobalt prices, chief executive officer Fabio Schvartsman said on Wednesday February 28."We are waiting to see where things are going to move forward to in order to make a decision in the VNC situation," he told analysts during a conference call. "It is clear that t...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More