Apple has been experimenting with ways to recover cobalt from its lithium-ion batteries and to use recycled cobalt. The company says it could potentially recover 550 kilograms of cobalt from every 100,000 iPhone 6 devices it recycles. Now there are reports it's looking to secure cobalt directly from miners, marking a further move by original equipment manufacturers (OEMs) to ensure certainty of ra...Read More
Apple has been experimenting with ways to recover cobalt from its lithium-ion batteries and to use recycled cobalt. The company says it could potentially recover 550 kilograms of cobalt from every 100,000 iPhone 6 devices it recycles. Now there are reports it's looking to secure cobalt directly from miners, marking a further move by original equipment manufacturers (OEMs) to ensure certainty of ra...Read More
(Kitco News) - The comparison between gold and bitcoin has been “overdone,” according to one investment expert, who sees gold as extremely different from bitcoin.“Gold is a store of value that will last forever. Bitcoin, on the other hand, is something that is young and speculative. [Bitcoin] is very exciting, but the comparison with gold has been overdone,” Newscape Capita...Read More
Traders and investors witnessed extreme volatility characterized by strong price swings taking gold prices both moderately higher as well as moderately lower in trading today.In a time span of only 70 minutes, gold prices fluctuated between a seven-dollar net gain followed by a six-dollar decline in prices.As of 3:30 PM Eastern standard time, April Comex gold futures are currently trading down $5....Read More
(Repeats item for additional subscribers, no changes in text)By Manolo Serapio Jr and Ruby LianMANILA/SHANGHAI, Feb 21 (Reuters) - China's steel producers are eager to unleash their mills' capacity when this winter's output curbs end next month, hoping for a repeat of last year's record profits based on high margins and less competition as outdated plants were closed. China shut down up to half o...Read More
(Kitco News) - It's a choppy trading afternoon for gold, in the wake of the FOMC minutes released earlier this afternoon. Gold prices initially saw little reaction to the FOMC minutes, but then rallied with the U.S. dollar index sold off. Then the U.S. dollar index rebounded from its lows to trade higher in the day, which prompted selling pressure in gold that drove its prices to daily lows. The U...Read More
(Kitco News) - In a delayed reaction, gold prices have pushed higher Wednesday despite what some are describing as slightly hawkish minutes from the January Federal Reserve monetary policy meeting.According to the minutes, Federal Reserve committee members are slightly more optimistic on U.S. economic growth, which could lead to an increase in interest rates hikes."Several others suggested th...Read More
(Kitco News) - The world’s largest investment firm thinks that holding even a little bit of gold will help to smooth out growing volatility in financial markets.In an interview Tuesday with Bloomberg New, Russ Koesterich, head of asset allocation for BlackRock Inc.’s global allocation team said the fund increased its holding in gold in recent weeks as volatility has picked up. The inve...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
Merger and acquisition activity in lithium, copper and cobalt is expected to feature high on the agenda of management teams across the industry given the buzz around new world critical minerals, according to a report by consultancy group EY. Environmental regulations and the electric vehicle (EV) revolution ignited various players to consider investment into the future supply of commodities used i...Read More
European zinc premiums dropped into a wider range, which reflects a retreat by traders from physical positions, while Asian markets held steady in quiet Lunar New Year holiday trading. European zinc market splits, some stockholders offload tonnes. Backwardation comes in but some offers for units in Rotterdam $10 lower. Asian markets quiet for Lunar New Year holidays US premiums unchanged but freig...Read More
Nickel was again the star performer on the London Metal Exchange at the 5pm close on Wednesday February 21, ending with gains of more than 2%.The three-month price recovered $235 per tonne from its previous closing level after significant declines earlier this week - the metal is looking to push back up to $14,000 per tonne."Rising premiums signal demand remains robust, while the limited nature of...Read More
Merger and acquisition activity in lithium, copper and cobalt is expected to feature high on the agenda of management teams across the industry given the buzz around new world critical minerals, according to a report by consultancy group EY. Environmental regulations and the electric vehicle (EV) revolution ignited various players to consider investment into the future supply of commodities used i...Read More
Unseasonably strong demand in China propelled low grade manganese ore prices higher, while alloy markets flatlined everywhere but the United States. Low grade manganese ore price gained 32 cents per dmtuHigh grade manganese ore prices lag Alloy prices static in China, India and EuropeAlloy prices strengthen in the US while supply tightens Low grade manganese ore prices kept rising on Fr...Read More
Merger and acquisition activity in lithium, copper and cobalt is expected to feature high on the agenda of management teams across the industry given the buzz around new world critical minerals, according to a report by consultancy group EY. Environmental regulations and the electric vehicle (EV) revolution ignited various players to consider investment into the future supply of commodities used i...Read More
Glencore is positive on the outlook for copper, zinc, nickel and cobalt amid optimism over growth in the electric vehicle (EV) market, while its net income jumped more than four-fold to $5.78 billion in 2017 on higher commodity prices."The electric vehicle upheaval continues to unfold, with the scale of market penetration and investment by battery and automotive manufacturers and infrastructure pl...Read More
Turkish steel mills paused their deep-sea scrap purchasing activity on Wednesday February 21 after news broke of the delivery of the Section 232 report in the United States, according to market sources.The mills in the country were expected to book more cargoes for March but they have slowed down their transactions and have booked only one cargo since the US Department of Commerce delivered its re...Read More
Comex copper prices were in negative territory on Wednesday February 21, with a stronger dollar and lack of market action weighing on base metals prices generally.Copper for May settlement on the Comex division of the New York Mercantile Exchange fell 0.9 cents or 0.3% to trade recently at $3.1815 per lb."The USD continues to be the main game in town as its recent rally continues ahead of some key...Read More
The metals prices on the London Metal Exchange are mixed this morning, Wednesday February 21, with nickel and tin prices firmer by 0.4%, while the rest are lower by between 0.1% and 0.5%. Copper prices are off 0.1% at $7,068 per tonne. Volumes remain light with 1,862 lots traded as of 07:05 am London time - we expect this to change tomorrow with China returning from the Lunar New Year holiday...Read More
Domestic prices for cold-rolled coil (CRC) in the EU have been largely unchanged over the past week, but the sentiment in the market remains positive, sources told Metal Bulletin on Wednesday February 21."Prices for hot-rolled coil [HRC] are going to rise and downstream products will follow the increase," a German trader said.Domestic prices for hot-rolled coil (HRC) in the EU are likely to rise,...Read More