China's domestic rebar prices moved down further on Monday January 15 on weak demand and losses in the billet market over the weekend. Domestic Eastern China (Shanghai): 3,720-3,760 yuan ($576-582) per tonne, down 60-70 yuan per tonne Northern China (Beijing): 3,750-3,780 yuan per tonne, down 90-100 yuan per tonne Weak demand in both east and north China continued to weigh on rebar prices. Meanwhi...Read More
Spot cobalt prices continued to rise last week as demand strengthened following the Christmas and New Year break, overpowering the temptation for profit-taking after a rallying end to 2017. Low-grade cobalt prices posted the more significant increase over the course of week, buoyed by concerns that delays to a restart at the Ambatovy joint venture in Madagascar could further intensify tightness fo...Read More
The Chinese indium market jumped by 10.2% on Wednesday January 10, according to Metal Bulletin's weekly assessment, after exchanges prices soared. Chinese domestic indium prices were assessed at 1,650-1,800 yuan ($254-277) per kg on Wednesday, up from 1,550-1,580 yuan per kg previously. The price jump was attributed to increased purchases from investors on the Wuxi Stainless Steel Exchange fo...Read More
Germanium prices rose further in Europe at the end of last week, reflecting crimped supply of raw materials and continued environmental inspections of plants in China, which have resulted in lower output and a shortage of material.Metal Bulletin assessed the germanium price at $1,250-1,400 per kg on an in-warehouse Rotterdam basis on Friday January 12, up from $1,200-1,350 per kg on Wednesday last...Read More
European antimony prices edged higher for both grades last week amid tightening prompt availability while prices in China were unchanged. Metal Bulletin assessed MMTA standard grade II antimony in-warehouse Rotterdam prices at $8,050-8,350 per tonne on Friday January 12, up from Wednesday's assessment of $8,000-8,350 per tonne, when prices had been unchanged. Trioxide grade antimony pric...Read More
Silicon metal prices in the United States inched up again in January, pressured by lingering supply concerns, while strong sentiment across the rest of the globe kept European and Chinese prices steady.American Metal Market assessed the spot price for US delivered 553 silicon at $1.40-1.42 per lb on Wednesday January 10, up by 2.5% from a month earlier when prices were in a range of $1.35-1.40 per...Read More
Strong demand, tight supply and higher London Metal Exchange aluminium prices have abruptly pushed European secondary aluminium alloy prices to a nine-month high, where they could stay for the coming weeks.Metal Bulletin assessed the price of DIN226-grade material, duty-paid, delivered in Europe, at ?,?1,800-1,850 ($2,158-2,218) per tonne on Friday January 12. This is up from ?,?1,770-1,820 per to...Read More
Europe could face a deluge of steel imports previously destined for the United States if Donald Trump's 232 investigation leads to strict import duties on steel products, German steel association WV Stahl has warned. EU tariffs on imports of cold rolled coil (CRC) from Russia and China led to prices for the material jumping in European domestic markets in 2017, while Russian producers lost ma...Read More
(Kitco News) - There is little standing in gold’s way next week that will stop prices from pushing higher in what will be a shortened trading week, according to some analysts.The gold market is seeing its fifth weekly consecutive gain as prices hold near their highest level in four months. February gold futures last traded at $1,331.70 an ounce, up 0.7% since last Friday. Since its December...Read More
With gold being up over 13% while the GDX was up just a paltry 7% in 2017, I strongly believe a major mean-reversion catch-up rally is in the process of unfolding in the miners. Historically, the GDX would have leveraged the 13% gain in gold last year by 2x to 3x for solid annual gains of at least 25% to 35%. But since investors were more focused on what seemed to be forever rising equity markets...Read More
(Kitco News) - Traders and analysts who take part in the weekly Kitco News gold survey look for the recent weakness in the U.S. dollar to continue underpinning gold in the next week. Wall Street Bullish Bearish Neutral VS Main Street Bullish Bearish Neutral Those who disagree suggest the greenback’s slide may be due for a pause, which in turn could take away...Read More
The equity markets have been as crazy as I have seen since the Internet bubble of the 1990s with one major difference -- they never go down. The dot.com craze was wild in both directions; stocks always ended up higher but had major swings of 3% to 5%. Today's market has not seen a down move of 3% in two years, which is the longest such period in history. For the last month, the gold market has bee...Read More
(Kitco News) - Gold prices are moderately higher in early U.S. trading Friday, but off the overnight gains that notched a four-month high. U.S. consumer price inflation that was a bit higher than expected helped to pull the gold market off its overnight highs. However, gold and silver prices are being supported by a slumping U.S. dollar index and a surging Euro currency. February Comex gold was la...Read More
(Kitco News) - Gold broke above the $1,322 level as the dollar came under further pressure overnight. With growth in Europe accelerating, the markets are expecting the ECB to begin a more aggressive tightening cycle. Physical demand in Asia has also picked up ahead of the Chinese Lunar New Year. The recent move in gold has been almost entirely correlated to dollar weakness, which continues to rema...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
The latest news and price moves to start the Asian day on Friday January 12.Base metals prices on the London Metal Exchange were mostly lower at the close on Thursday January 11, with nickel prices falling 2%. Read more in our live futures report.Here are how prices looked at the end of the day on Thursday.Metal Bulletin has learned that operations at Glencore's Pasar copper smelter in I...Read More
The latest news and price moves to start the Asian day on Friday January 12.Base metals prices on the London Metal Exchange were mostly lower at the close on Thursday January 11, with nickel prices falling 2%. Read more in our live futures report.Here are how prices looked at the end of the day on Thursday.Metal Bulletin has learned that operations at Glencore's Pasar copper smelter in I...Read More
The latest news and price moves to start the Asian day on Friday January 12.Base metals prices on the London Metal Exchange were mostly lower at the close on Thursday January 11, with nickel prices falling 2%. Read more in our live futures report.Here are how prices looked at the end of the day on Thursday.Metal Bulletin has learned that operations at Glencore's Pasar copper smelter in I...Read More
Aluminium foundry alloy tags inched up slightly in Europe this week but stayed flat in the United States. Market participants presented varying pictures of demand around the globe - it was said to be good in general but stronger for heavier vehicles, particularly in the US.12-Jan-2018 ...Read More
Base metals prices on the London Metal Exchange closed the week on divergent paths today, Friday January 12, with aluminium leading the upside.The three-month aluminium price closed above $2,200 per tonne for the first time since the first trading day of the year. 16,000 tonnes of aluminium was freshly cancelled at LME-listed warehouses this morning, which supported prices. "Strong Chinese trade f...Read More