China's domestic stainless steel prices stabilized over the past week with more and more participants leaving the market ahead of the Chinese New Year. Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,500-15,500 yuan ($2,295-2,453) per tonne including VAT for the week ended Thursday February 8, the same as a week earlier. "More a...Read More
The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday February 9:Aluminium ingot Duty paid delivered works...Read More
Prices for flat steel products in Brazil increased in early February, following the adjustments announced by local producers during January.Metal Bulletin's monthly price assessment for Brazilian hot-rolled coil (HRC) rose to 2,500-2,600 Reais ($763-793) ex-works on Friday February 9, from 2,300-2,400 Reais per tonne ex-works on January 5.In the same...Read More
Rebar prices in Brazil were steady at the beginning of February, amid uncertainty over the approval of the merger between ArcelorMittal Brasil and local long steel producer Votorantim Siderurgia.Metal Bulletin's monthly price assessment for Brazilian rebar was 2,200-2,400 Reais ($677-738) per tonne delivered on Friday February 9, stable on a monthly basis.The transaction, which will turn Votoranti...Read More
Latin American steel group Ternium and Japan's Nippon Steel & Sumitomo Metal Corp (NSSMC) have reached an agreement over the control of Brazilian steel and iron ore producer Usiminas.The two firms, which are Usiminas' main shareholders, have agreed to establish new rules to govern their relationship as members of the Usiminas control group and to "amicably resolve and terminate the pending legal d...Read More
Prices for flat steel products in Brazil increased in early February, following the adjustments announced by local producers during January.Metal Bulletin's monthly price assessment for Brazilian hot-rolled coil (HRC) rose to 2,500-2,600 Reais ($763-793) ex-works on Friday February 9, from 2,300-2,400 Reais per tonne ex-works on January 5.In the same...Read More
Rebar prices in Brazil were steady at the beginning of February, amid uncertainty over the approval of the merger between ArcelorMittal Brasil and local long steel producer Votorantim Siderurgia.Metal Bulletin's monthly price assessment for Brazilian rebar was 2,200-2,400 Reais ($677-738) per tonne delivered on Friday February 9, stable on a monthly basis.The transaction, which will turn Votoranti...Read More
Prices for flat steel products in Brazil increased in early February, following the adjustments announced by local producers during January.Metal Bulletin's monthly price assessment for Brazilian hot-rolled coil (HRC) rose to 2,500-2,600 Reais ($763-793) ex-works on Friday February 9, from 2,300-2,400 Reais per tonne ex-works on January 5.In the same...Read More
Rebar prices in Brazil were steady at the beginning of February, amid uncertainty over the approval of the merger between ArcelorMittal Brasil and local long steel producer Votorantim Siderurgia.Metal Bulletin's monthly price assessment for Brazilian rebar was 2,200-2,400 Reais ($677-738) per tonne delivered on Friday February 9, stable on a monthly basis.The transaction, which will turn Votoranti...Read More
There are two critical numbers that gold investors and traders need to watch carefully for signs of support: fifty and fifty. The first critical number represents gold’s 50-day moving average. The second critical number represents a 50% retracement of the most recent rally. Interestingly enough, these two numbers intersect at roughly the same price point in gold.Market technicians utilize th...Read More
(Kitco News) - Current market conditions and gold prices suggest the metal is about to breakout, says one former Bear Stearns analyst.“[I]t looks to me like it could now get really exciting for gold bulls,” Jesse Felder, publisher of the Felder Report investment newsletter, said in a report released Thursday.“On the weekly chart there is now a clear head and shoulders bottom patt...Read More
(Kitco News) - Gold prices were ending the U.S. day session with moderate gains Thursday. Another big sell off in the U.S. stock market prompted safe-haven demand in both gold and silver markets. Bargain hunters also stepped into both markets after they had dropped to multi-week lows early on today. April Comex gold futures were last up $4.80 an ounce at $1,319.40. March Comex silver was last up $...Read More
(Corrects weight of other diamond to 118, not 163, carats in second paragraph and specifies throughout this is private sale, not auction.)LONDON, Feb 8 (Reuters) - A flawless diamond, the size of a large strawberry, is expected to fetch a world record price when it comes to market at Sotheby's in London this month.Weighing just over 102 carats, the round, brilliant white stone is smaller than a 1...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our market professional survey.Readers can al...Read More
(Kitco News) - Renewed growth in emerging markets (EM) will help drive gold prices higher, according to commodity analysts from Goldman Sachs, who have significantly increased their forecast for the yellow metal.In a report Thursday, the global investment bank said that in three months, it see gold prices pushing to $1,350 an ounce, in six month rallying to $1,375, and by next year it sees gold pr...Read More
The latest news and price moves to start the Asian day on Thursday February 8.Base metals prices on the London Metal Exchange plunged at the 5pm close on Wednesday February 7, with a strong recovery in the dollar leading copper prices to plummet 2.4%. Read more in our live futures report.Here are how LME prices looked at Wednesday's close:Tom Albanese, the former chief executive officer of bo...Read More
The latest news and price moves to start the Asian day on Thursday February 8.Base metals prices on the London Metal Exchange plunged at the 5pm close on Wednesday February 7, with a strong recovery in the dollar leading copper prices to plummet 2.4%. Read more in our live futures report.Here are how LME prices looked at Wednesday's close:Tom Albanese, the former chief executive officer of bo...Read More
Base metals prices on the London Metal Exchange mostly recovered from early morning lows at the close on Thursday February 8, but copper prices remained downbeat.Copper closed $35 lower after crashing over 2.4% on Wednesday, prices remain below $6,900 per tonne following further deliveries into LME-listed warehouses. "Copper was weaker earlier on news that LME stocks rose by another 21,000 tonnes...Read More
Comex copper prices bounced back on Thursday February 8 after crashing to a multi-week low the day before, with investors still upbeat on global growth prospects for 2018. Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 1.00 cents or 0.3% to $3.0975 per lb. Yesterday, the metal touched $3.1060, the weakest since January 23. "Downside prices risks are like...Read More
Base metals prices on the London Metal Exchange were mostly in negative territory once again during morning trading on Thursday February 8, with nickel dropping back below $13,000 per tonne. The three-month nickel price has now plummeted 7.2% since it hit $14,000 per tonne last Thursday. The recovery in the dollar has put pressure on prices; most recently it was trading 0.32% higher at 90.55 - the...Read More