(Adds details throughout and updates prices to close)* TSX closes down 31.79 points, or 0.19 percent, at 16,317.65* Materials group falls 0.7 percent* Seven of the TSX's 10 main groups end lower TORONTO, Jan 8 (Reuters) - Canada's main stock index retreated on Monday as shares of some materials and financial services companies weighed, offset by gains for marijuana producers.* The Toronto Stock...Read More
(In paragraph six corrects to say higher salt levels of river caused water problems in Flint)By Timothy GardnerWASHINGTON, Jan 8 (Reuters) - U.S. rivers and streams have become saltier and more alkaline over the last 50 years, posing risks to drinking water by damaging pipelines and other infrastructure, according to a study released on Monday.As municipal workers dump salt on roads to combat ice...Read More
(Kitco News) - Gold and silver prices were ending the U.S. day session modestly weaker Monday. Some profit-taking and chart consolidation were featured in both metals, after recent good gains. A higherU.S. dollar index on this day also worked against the precious metals market bulls. February Comex gold was last down $2.30 an ounce at $1,320.10. March Comex silver was last down $0.135 at $17.15 an...Read More
(Kitco News) - Hedge funds continued to pile into silver and gold in the first few days of the new trading year, according to the latest trade data from the Commodity Futures Trading Commission.Analysts noted that the precious metals market looks attractive to fund managers as the U.S. dollar continued its sharp decline into 2018. Ole Hansen, head of commodity strategy at Saxo Bank, said that the...Read More
Gold has had a monster rally of almost $90 over the last 19 trading days. What looked like a breakdown turned into a great buying opportunity or a short squeeze. On Thursday, gold looked like it had the final blow-off to the upside on heavy volume, making a high at $1,327.30 in the February futures. Since Thursday, gold has traded slightly lower than the high but has stayed inside a $20 range. Typ...Read More
The global billet markets generally remained silent during the working week from Tuesday January 2 to Friday January 5 amid the New Year holidays.ChinaBillet prices were 3,630 yuan ($559) per tonne at 3pm on January 5, down by 40 yuan per tonne from last Friday.A local trader revealed that Tangshan has around 300,000 tonnes of billet stock, which is putting pressure on billet prices."Billet prices...Read More
The global billet markets generally remained silent during the working week from Tuesday January 2 to Friday January 5 amid the New Year holidays.ChinaBillet prices were 3,630 yuan ($559) per tonne at 3pm on January 5, down by 40 yuan per tonne from last Friday.A local trader revealed that Tangshan has around 300,000 tonnes of billet stock, which is putting pressure on billet prices."Billet prices...Read More
World manganese ore supply was still up by 13.3% year on year in November 2017, even as it fell 17.8% compared with the prior month, according to the latest data from the International Manganese Institute (IMnI).Global manganese ore supply fell to 1.62 million tonnes in November last year, down from a record-high of 2 million tonnes hit in October.Supply for the first eleven months of 2017 rose by...Read More
Codelco's Ventanas smelter in Chile achieved record-high copper cathode production in 2017 despite stricter environmental regulations and a more complex global scenario for smelters, the company said on Monday January 8.Ventanas' cathode production reached record levels for the fourth consecutive year. Output totaled 410,024 tonnes in 2017, up by 2,700 tonnes...Read More
Aluminium was the only metal that ended lower at the end of trading on the London Metal Exchange on Monday January 8.The three-month aluminium price ended around 1.2% lower than its pre-weekend closing level at $2,175 per tonne.Around 14,000 lots changed hands by the 5pm close, outpacing copper by about 2,000 lots.Stocks fell a net 3,600 tonnes to 1,095,875 tonnes. Although on-warrant aluminium st...Read More
Comex copper prices recovered from a one-week low amid consolidation on Monday January 8, while a stronger dollar is likely to cap the upside. Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 1.25 cents or 0.4% to $3.2420 per lb. Last week, the contract hit the lowest point since December 22. "Prices could look to resume their upward...Read More
Xiamen Tungsten, China's major tungsten exporter, has not been granted an export license for 2018-2019, according to China's Ministry of Commerce. The ministry refused to grant the company an export license due to two administrative penalties imposed in 2017: one for exceeding emissions and another for having incorrect customs clearance for a batch of cobalt related products, it said on December 2...Read More
China's ferro-chrome market weakened over the past week amid a lull in activity after domestic mills wrapped up their latest round of purchasing negotiations, while ore prices were supported by tight supply and firm demand from smelters. Domestic Chinese ferro-chrome prices slide as purchasing wave ends South African and Turkish ore markets gain on tight supply European high carbon ferro-chrome pr...Read More
Seaborne manganese ore prices held steady over the past week, while alloy prices weakened in China in anticipation of smelter restarts. Manganese ore prices gain a few cents week on week Chinese alloy prices weaken as market awaits Ningxia restarts Silico-manganese prices rise in India on rupee and steel sector strength European alloy prices rise on tighter prompt availability US silico-manganese...Read More
European antimony prices have started the year on a positive note with prices edging up slightly for both grades amid a tightening market.Metal Bulletin assessed MMTA standard grade II antimony in-warehouse Rotterdam prices at $8,000-8,350 per tonne on Friday January 5, stable from Wednesday's assessment when prices had increased from $7,950-8,300 per tonne.Trioxide grade antimony prices in-wareho...Read More
China's silicon prices rose in Metal Bulletin's assessment last week despite limited trading activities in the spot market following the New Year holiday. China's grade 553 silicon metal, basis 98.5%, export price leapt to $1,880-1,950 per tonne on Friday January 5, up 4.4% from the previous assessment. Spot availability has been tightened since November when refineries in southern China clos...Read More
Turkish steel mills returned to the deep-sea scrap markets willing to pay higher prices on Monday January 8.Metal Bulletin's daily index for Northern European HMS 1&2 (80:20) closed the day at $368.20 per tonne cfr, up by $6.58 per tonne.The daily index for US-origin scrap closed at $378.85 per tonne cfr. Up by $9.34 per tonne, putting the premium for US material...Read More
Turkish domestic scrap prices increased in line with rising imported scrap values on Monday January 8.The majority of Turkish steel producers raised their auto bundle (DKP grade) scrap purchasing prices over the past week.Alloy long steel mill Asil ??elik raised its buy price to TRY1,370 ($366) per tonne delivered, while long and flat steel producer ??olakoglu increased its price to TRY1,340...Read More
NFEx Markets' chief operating officer and its most senior director, Mark Bradley, has resigned from the board alongside non-executive director Jim Coupland, filings on the UK's Companies House show on Monday January 8.The over-the-counter base metals trading platform is due to start trading in the coming months.Bradley and Coupland will remain advisers to NFEx alongside former London Metal Exchang...Read More
Comex copper prices recovered from a one-week low amid consolidation on Monday January 8, while a stronger dollar is likely to cap the upside. Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 1.25 cents or 0.4% to $3.2420 per lb. Last week, the contract hit the lowest point since December 22. "Prices could look to resume their upward...Read More