Silicon metal prices in the United States inched up again in January, pressured by continuing supply concerns. Metal Bulletin sister publication 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
East Asia's stainless steel market has started to show signs of weakness, with prices for cold-rolled coil retreating over the past week amid thin trading and soft demand.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm cold-rolled coil was $2,130-2,150 per tonne cif East Asian ports for the week ended Wednesday January 10, down $20-50 per tonne from $2,150-2,200 per tonne cif...Read More
Domestic and export aluminium ingot ADC 12 prices in China rose this past week after Japanese buyers returned to the market following the New Year holidays and producers raised their offers due to higher raw material costs.Metal Bulletin assessed the aluminium ingot ADC 12 main Japanese ports spot price at $1,990-2,020 per tonne on Wednesday January 10, up by 2.3% from $1,950-1,970 per tonne last...Read More
India's JSW Steel recorded its highest-ever quarterly crude steel output in October-December 2017, producing 4.11 million tonnes - up 7% compared with the same quarter in 2016.The October-December period is the third quarter of JSW Steel's 2017-2018 financial year, which runs to March 31, 2018. Flat steel production dropped 1% year on year to 2.82 million tonnes, while long steel production increa...Read More
Mechel, one of the leading Russian mining and metals companies, has appointed Nelli Galeeva as its new chief financial officer (CFO), the company reported on Wednesday January 10.Prior to this appointment, Galeeva had been leading Mechel's accounting and tax department for four years and oversaw work on the...Read More
Vancouver, British Columbia, Canada - Thursday, January 11, 2018 - Canada Zinc Metals Corp. (TSX Venture Exchange: CZX) is pleased to announce that Teck Resources Limited (“Teck” TSX: TECK.B) and Korea Zinc Co. Ltd. (“Korea Zinc”) (collectively, the “Optionees”) have delivered to the Company an exercise notice regarding the Optionees’ First Option on the P...Read More
(Kitco News) - Gold and silver investments should not be missed out on amid the recent crypto craze, said ABC Bullion’s global general manager, pointing out that risks associated with digital currencies are often overlooked.Crypto’s “huge returns of late” might not be able to protect traders against much bigger problems that exist within the cryptocurrencies space, Nicholas...Read More
Recent price action in gold suggests that the precious yellow metal might be forming a base at just above $1300 per ounce. The most recent rally, which began in mid-December, took pricing from $1238 to $1327 before finding resistance. Since Friday of last week, gold has been trading in a narrow and defined range with intraday lows coming in above $1305 and intraday highs falling below $1324.When f...Read More
(Adds Nestle, SS&C, Bayer, Galeries Lafayette, Intesa SanPaolo, Henri Selmer Paris; Updates Twenty-First Century Fox Inc)Jan 10 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:** Huawei Technologies Co Ltd's planned deal with U.S. carrier AT&T Inc to sell its smartphones in the United States has collapsed at the 11th hour because...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
LONDON, Ontario (Reuters) - Canada is increasingly convinced that U.S. President Donald Trump will soon announce that the United States intends to pull out of the North American Free Trade Agreement, two government sources said on Wednesday.The sources said they expected Trump would make his move at about the same time that negotiators from the United States, Canada and Mexico meet in late January...Read More
Editor's Note:View Kitco News' full 2018 outlook coverage(Kitco News) - Known as a fan favorite, the Expert Series brings together well-known investors and Kitco regulars to find out where they will be putting their money in 2018.Adding a twist this year's feature, we have asked popular mining sector analysts for their thoughts on the mining sector and what companies they like in the new year. Thi...Read More
(Kitco News) - Gold prices ended the U.S. session higher and hit a nearly four-month high Wednesday. Safe-haven demand for the yellow metal was featured amid a rise in world government bond yields that troubled the marketplace. A lower U.S. dollar index on this day also provided support to the precious metals. February Comex gold was last up $5.60 an ounce at $1,319.40. March Comex silver was last...Read More
(Kitco News) - The world’s most famous investor doubled down on his negative view of bitcoin and cryptocurrencies Wednesday.In an interview with CNBC, Warren Buffett, from Omaha, Neb., said that he will have nothing to do with cryptocurrencies. In a harsh rebuke of the asset class, Buffett said, “I can say almost with certainty that they will come to a bad ending.”He explained th...Read More
The latest news and price moves to start the Asian day on Wednesday January 10.Base metals prices on the London Metal Exchange were mostly lower at the close on Tuesday January 9, with only nickel trading in positive territory. Read more in our live futures report.Here are how prices looked at the end of the day on Tuesday.Comex copper prices weakened during morning trading in the United Stat...Read More
The latest news and price moves to start the Asian day on Wednesday January 10.Base metals prices on the London Metal Exchange were mostly lower at the close on Tuesday January 9, with only nickel trading in positive territory. Read more in our live futures report.Here are how prices looked at the end of the day on Tuesday.Comex copper prices weakened during morning trading in the United Stat...Read More
The latest news and price moves to start the Asian day on Wednesday January 10.Base metals prices on the London Metal Exchange were mostly lower at the close on Tuesday January 9, with only nickel trading in positive territory. Read more in our live futures report.Here are how prices looked at the end of the day on Tuesday.Comex copper prices weakened during morning trading in the United Stat...Read More
Nickel continued to rally on the London Metal Exchange during afternoon trading on Wednesday January 10, closing in positive territory alongside the rest of the metals.The three-month nickel price closed up 1.8% on Tuesday's close, having hit an intraday high of $13,200 per tonne earlier, thanks to a tighter market and robust demand from the stainless steel sector."We have a constructive view over...Read More
A wave of labor negotiations at several of the world's leading copper mines is taking place this year and could have a significant impact to the global copper supply and prices.Among such talks are BHP-operated Escondida mine, Antofagasta's Los Pelambres and several of Codelco's mines, all in...Read More
The London Metal Exchange closed 2017 in positive fashion as average daily volume (ADV) climbed 19.3% after two previous months of decline. Lead was the strongest performer, with ADV climbing over 50% from December 2016 with 55,717 lots. Last month, lead was the only base metal to record a significant year-on-year increase. Copper's ADV was up 24.3% from the previous year to 150,723 lots, after it...Read More