The Prospectors & Developers Association of Canada (PDAC) is best known for its annual convention, bringing together prospectors, developers, geoscientists, consultants, and mining executives, among others. Considered the mammoth of all mining conferences, this annual event attracts more than 24,000 attendees from more than 130 countries. The four-day annual convention held yearly in Toronto,...Read More
(Adds background, Ohio senators' statement)WASHINGTON, Feb 12 (Reuters) - U.S. President Donald Trump will meet with a bipartisan group of lawmakers on Tuesday to discuss trade matters, as he ponders whether to takes steps to limit steel and aluminum imports seen as damaging to U.S. businesses.A month ago the Commerce Department handed Trump the results of its investigation into steel and aluminu...Read More
Gold stages an impressive recovery today and, as of 3:30 PM Eastern standard time, is trading up $10.20 (April futures) at $1325.90. This upside spike is truly a combination of both a weaker U.S. dollar along with buyers bidding up the precious yellow metal.According to the Kitco Gold Index, spot gold is currently fixed at $1323.30, which is a net gain of $7.60 on the day. On closer inspection, it...Read More
(Kitco News) - Gold and silver prices were ending the U.S. day session with solid gains Monday. The precious metals were supported by a weaker U.S. dollar index and a rebound in crude oil prices. Some short covering in the futures market and bargain hunting in the cash market were featured in both metals, following last week’s selling pressure. Impressively, the metals were able to post good...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
(Kitco News) - Analysts are optimistic when it comes to Chinese gold demand for the Lunar New Year, stating that they expect to see strong growth despite higher gold prices. China is already seeing an improvement in gold demand ahead of the Lunar celebrations, which will usher in the year of the Dog on Feb. 16. The occasion has historically been a key gold-buying opportunity for consumers in a c...Read More
Steel billet prices in the global markets went down slightly or remained stable, except in Southeast Asia, during the working week from Monday February 2 to Friday February 9.In Southeast Asia, prices strengthened amid tight supply, while export prices out of Turkey, India and the CIS region remained largely stable over the past week.Meanwhile, billet prices in the import markets of Latin America,...Read More
Steel billet prices in the global markets went down slightly or remained stable, except in Southeast Asia, during the working week from Monday February 2 to Friday February 9.In Southeast Asia, prices strengthened amid tight supply, while export prices out of Turkey, India and the CIS region remained largely stable over the past week.Meanwhile, billet prices in the import markets of Latin America,...Read More
The copper price trading on the London Metal Exchange managed to hold on to most of its early morning gains to close $76 per tonne higher on Monday February 12. The three-month copper price is now trading back above $6,800 per tonne and the red metal continues to stabilize after falling to a two-month low after the equity market plummeted and the dollar recovered. The majority of metals closed in...Read More
Comex copper prices bounced back on Monday February 12 morning in the US due to a weaker dollar and the market stabilizing after heavy losses last week.Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 4.15 cents or 1.4% to $3.0750 per lb. On Friday, the contract tumbled to its lowest point since December 14, 2017.Base metals were driven lower last week whi...Read More
The early-February sell-off in London Metal Exchange base metals seems to have run its course for now, but it may have not been as extreme as it could have been, ironically because of the growing influence of computerized trading systems.At the end of December last year, copper traded as high as $7,291.50 per tonne, and was pretty much maintained at solid levels comfortably above $7,000 for the fi...Read More
Tungsten prices climbed higher last week in Europe amid tightening spot supply, while the Chinese market has started to wind down ahead of the week-long national holiday for Chinese New Year. China's tungsten market starts to wind down ahead of Lunar New Year Tightness in tungsten concentrate to continue in the first quarter ahead of China's National People's Congress scheduled for March&nbs...Read More
Chinese ferro-silicon prices have been flat over the past week before the Lunar New Year holiday, the European market dropped further amid slow demand and US prices were supported by supply tightness. Chinese activity pauses ahead of holiday Slow activity in Europe prompts lower offer prices Supply tightness underpins US market China holds steady before holidayChinese domestic fer...Read More
Glencore's Pasar copper smelter has returned to operation after fixing a technical failure that led to a production halt last month, the company told Metal Bulletin."The problem has been resolved and the smelter is back online," Glencore spokesman Charles Watenphul said in an emailed statement. The spokesman declined to provide details on the repairs undertaken or comment on whether the 330,000 to...Read More
Manganese ore prices jumped by as much as 35 cents per lb on Friday February 9, as consumers stockpiled ahead of Chinese New Year in anticipation of further price increases. Ore prices jump as much as 35 cents as consumers stockpileAlloy prices drift in ChinaIndian alloy prices pull back as China winds downEuropean alloy prices hold in thin tradingAlloy markets stand firm in USA Manganese ore pric...Read More
Chinese silicon export prices jumped up by 1.3% on Friday February 9 due to currency uncertainty and tightening spot availability, while US silicon prices rose again on higher logistics costs and supply concerns ahead of the final determinations on the anti-dumping and countervailing duty probes. Chinese silicon metal export price breached $2,000 per tonne in the latest pricing assessment amid a b...Read More
The Turkish deep-sea scrap import market went quiet on Monday February 12, digesting the latest bookings done at the end of last week.Turkish steelmakers were active in the bulk ferrous scrap market over the preceding seven days, booking at least eight bulk ferrous scrap cargoes from suppliers in the United States, the UK and...Read More
Turkish domestic auto bundle scrap prices have shown mixed dynamics over the past week, with some mills reducing their prices in line with falling imported scrap values, while other mills raised their prices to buy more material, sources said on Monday February 12.A number of steel mills in Turkey reduced their buy prices for scrap material by TRY10-15 ($3-4) per tonne in the past seven days, whil...Read More
Comex copper prices bounced back on Monday February 12 morning in the US due to a weaker dollar and the market stabilizing after heavy losses last week.Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 4.15 cents or 1.4% to $3.0750 per lb. On Friday, the contract tumbled to its lowest point since December 14, 2017.Base metals were driven lower last week whi...Read More
Base metals prices on the London Metal Exchange seem to have found buying interest this morning, Monday February 12, with all of the base metals, except lead (-0.3%), showing gains averaging 1%. The three-month copper price leads the way with a 1.8% rally to $6,870 per tonne - this after a low last Friday of $6,733 per tonne.Volume has been high with 12,015 lots traded as of 07:09 am London time -...Read More