An overview of China's minor metals markets in the week of January 2-5 and the reasons for any price moves.Read More
China's domestic stainless steel prices rebounded slightly over the past week on gains in the nickel market.Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,200-15,500 yuan ($2,339-2,385) per tonne including VAT for the week ended Thursday January 4, narrowing upward from 15,000-15,500 yuan per tonne a week earlier. Market partic...Read More
The following Metal Bulletin non-ferrous European free market scrap prices changed on Friday January 5:Aluminium scrap Cast: ?,?1,185-1,265 per tonne from...Read More
Labor negotiations at several of the world's leading copper mines will increase supply risk in 2018 and could provide support to prices, market analysts said.More than 30 labor contracts are due to be renegotiated next year - the largest number since 2010.This means that nearly 40% of global copper production - or more than 7 million tonnes - could be subject to disruption due to industrial a...Read More
SHANGHAI, Jan 5 (SMM)? 1/4 ? Nonferrous metals for the most part moved higher today except a slight drop in copper. Zinc rallied in the afternoon with 1% rise at closure while lead and aluminium were up some 0.6%. Both nickel and tin edged up.Ferrous metals were softer with a mixed result. Coking coal and coke were up slightly, while hot-rolled coil dropped 0.67%. Rebar and iron ore also slipped.C...Read More
SHANGHAI, Jan 5 (SMM)? 1/4 ? Nonferrous metals for the most part moved higher today except a slight drop in copper. Zinc rallied in the afternoon with 1% rise at closure while lead and aluminium were up some 0.6%. Both nickel and tin edged up.Ferrous metals were softer with a mixed result. Coking coal and coke were up slightly, while hot-rolled coil dropped 0.67%. Rebar and iron ore also slipped.C...Read More
SHANGHAI, Jan 5 (SMM)? 1/4 ? Nonferrous metals for the most part moved higher today except a slight drop in copper. Zinc rallied in the afternoon with 1% rise at closure while lead and aluminium were up some 0.6%. Both nickel and tin edged up.Ferrous metals were softer with a mixed result. Coking coal and coke were up slightly, while hot-rolled coil dropped 0.67%. Rebar and iron ore also slipped.C...Read More
By Costas PitasLONDON, Jan 5 (Reuters) - British new car sales recorded their biggest drop since 2009 last year, falling by more than 5 percent due to uncertainty over potential new diesel charges and weakening consumer confidence since Brexit, an industry body said on Friday. Registrations ended 2017 at around 2.54 million vehicles, according to provisional data, and are set to fall up to 7 perc...Read More
The number to focus on today is the number 10. Gold traders are witnessing a run on the precious yellow metal, now in its 10th day for consecutive price gains. The last time traders witnessed ten consecutive trading days resulting in higher prices was back in 2011. In fact, that rally resulted in a total of 13 consecutive higher trading days, one of the longest consecutive daily price advances in...Read More
(Kitco News) - A Welsh gold mine, which is behind three generations of British royal wedding rings, is planning to reopen after 20 years of inactivity — just in time for the spring royal wedding between Prince Harry and Meghan Markle.The gold from the Clogau St David’s mine, located in Bontddu, Snowdonia, was used in royal weddings for the last 90 years.Wedding rings for the Queen, Pri...Read More
(Kitco News) - Gold prices are ending the U.S. day session modestly up and were poised to close at a more-than-three-month-high close Thursday. Silver prices were ending near steady and hit a six-week high today. Some early profit-taking pressure was viewed as a bargain buying opportunity by the precious metals bulls. February Comex gold was last up $2.20 an ounce at $1,320.70. March Comex silver...Read More
(Kitco News) - Mining companies need to embrace “disruptive” technology to make the sector more compelling to younger investors and attract new capital, according to one mining executive.Luis Canepari, vice-president of technology at Goldcorp (NYSE: GG, TSX: G, said in a recent interview with Kitco News, that there are a lot of companies doing amazing things with technology that c...Read More
(Kitco News) - Gold prices have erased early losses to trade modestly up on the day, in late-morning action Thursday. Given the bullish technical posture of the gold market, at present, traders stepped in to buy the dip in prices, while reckoning there is more on the upside for the yellow metal in the near term. The outside markets are also in a bullish daily posture for the precious metals today,...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) - Metals dropped sharply yesterday after the release of the FOMC meeting minutes for December. The perception that the Fed presented a hawkish perspective generated profit taking in the metals and reversed the recent dollar weakness. I read the minutes a little differently. It appears there is growing concern within the Fed of what the impact of aggressive rate increases will do to th...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
Wednesday the FOMC delivered minutes from the last Federal Reserve meeting. The minutes were about the same as usual -- a lot of words that said nothing or confirmed how clueless the Fed is. When the minutes were delivered at 2 p.m. EST, markets had a very muted reaction, but gold found itself under pressure. For 20 minutes, the sellers were back, and gold fell about $10. However, by the end of th...Read More
The latest news and price moves to start the Asian day on Thursday January 4.Base metal prices on the London Metal Exchange were mostly lower at the close on Wednesday January 3, with lead and tin the only metals to finish the day in positive territory. Read more in our live futures report.Here are how prices looked at the end of the day on Wednesday.Glencore said it will add 100,000 tonnes o...Read More
Heavy Chinese investment in Indonesian nickel smelting and stainless steel production means that an increasing quantity of nickel ore mined in the country will be consumed internally from 2018 onwards.In spite of higher production in the coming year, Indonesian nickel pig iron (NPI) exports to China will fall in 2018 as around 180,000 tonnes of nickel metal will be consumed domestically on an ...Read More
The latest news and price moves to start the Asian day on Thursday January 4.Base metal prices on the London Metal Exchange were mostly lower at the close on Wednesday January 3, with lead and tin the only metals to finish the day in positive territory. Read more in our live futures report.Here are how prices looked at the end of the day on Wednesday.Glencore said it will add 100,000 tonnes o...Read More