China's domestic spot battery-grade lithium carbonate prices fell further in thin buying this week but lithium hydroxide prices held steady.Asian seaborne battery-grade lithium carbonate prices also edged down, reflecting the continued fall in Chinese prices.A further fall in battery-grade lithium carbonate prices in China weighs on seaborne cif China, Japan and Korea market pricesDownstream consu...Read More
The latest metal news and price moves to start the North American day on Friday June 15.Base metals prices on the London Metal Exchange were mostly lower again during morning trading despite nickel recouping some of its losses.Here's how three-month LME base metals prices...Read More
Big mining blastedMining and metals investors were offloading the sector's big names on Friday over fears of the impact of a trade war between the US and China, which is responsible for nearly half the world's industrial metal demand and two-thirds of the world's seaborne trade in steelmaking raw materials.Copper fell nearly 3% to $3.13 a pound or $6,900 a tonne, pushing the bellwether metal back...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Friday June 15.Base metals prices on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Friday June 15, pressured by a strengthening US dollar.Check Metal Bulletin's live futures report here. LME snapshot at 03:23 London time Latest 3M LME Prices Price ($/t...Read More
Gold is trading under major pressure today, with August futures currently down $25.90, and is fixed at $1282.30. This sharp decline coincides with a major selloff of many commodities. Sharp declines in oil, grains, and other commodities defined trading activity in the futures markets today. Read More
(Kitco News) - Last Friday we told our loyal and wonderful readers to buckle up and expect quite the ride this week - and boy was that the case. The G7, the Federal Open Market Committee, ECB, Singapore, the World Cup....(in no particular order) all delivering significant punches and fireworks. From singer Robbie Williams flashing his middle finger on the global stage during the World C...Read More
(Kitco News) - Gold prices are seeing sharp selling pressure ahead of the weekend, weighted down by surging momentum in the U.S. dollar as monetary policy between the U.S. and Europe continue to diverge.Gold futures are preparing to end the week with heavy losses with August gold last traded at critical support at $1,280.40 an ounce, down 1.71% from last week. The lost comes a day after gold price...Read More
Turkish scrap import prices recovered in the week ended Friday June 15 on steady demand from the country's steel mills. This was due to bullish sentiment in the markets arising from the United States' decision to impose its Section 232 import tariffs on material from the EU, Canada and Mexico.East Coast fob prices in the US were up due to the Turkish demand. Taiwan import prices rose similarly, wi...Read More
(Kitco News) - Wall Street and Main Street both look for gold prices to rise in the next week, based on the Kitco News weekly survey.The metal was range-bound for much of this week before tumbling with other commodities on Friday amid U.S. dollar strength as U.S.-China trade-war worries intensified again. Other significant news events this week were a North Korea-U.S. summit, 25-basis-point intere...Read More
Turkish scrap import prices edged up slightly on Friday June 15, when two deep-sea cargoes came to light that had been booked earlier.No new deals were heard on June 15 with Turkey celebrating the Eid Al-Fitr holiday to mark the end of the Islamic holy month of Ramadan, but two deep-sea cargoes had been heard late on Thursday after...Read More
(Kitco News) - Gold prices are sharply down and have sunk to a nearly six-month low in late-morning action Friday. A slumping raw commodity sector in the face of a potential worldwide trade war among major global economies has hit raw commodity prices hard today. The Trump administration has today slapped new import tariffs on Chinese goods coming into the U.S. The gold market on this day has deci...Read More
In Wednesday’s highly anticipated FOMC meeting speech, the Federal Reserve took a slightly more hawkish policy tone in signaling two more rate hikes by year-end. However, the gold complex chose to focus on the Fed’s rather tepid view of inflation as Fed Chair Jerome Powell pledged to keep rates low enough to bolster the economy for “some time” and signaled it would tolerate...Read More
Prices for containerized shredded scrap imports into India remained flat this week with market activity experiencing a lull, market sources told Metal Bulletin on Friday June 15.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was flat at $379.96 per tonne cfr Nhava Sheva on June 15, almost unchanged from $379.94 per tonne on June 8.Offers for shredded material...Read More
(Kitco News) - The gold market is seeing renewed selling pressure Friday morning even as equity markets open sharply down. The Dow Jones Industrial Average opened the session down more than 100 points or 0.5% on the day, last trading at 25,013 points. At the same time, the S&P 500 Index opened the day down 11 points or 0.4%, last trading at 2,771 points. According to George Gero, managing...Read More
After the ECB left rates unchanged on Thursday, gold took off to the upside, trading as high as $1,313 before giving back half of its gains. This morning gold is under a little pressure, which is probably a buying opportunity considering it has been trending higher since the blow-off bottom on May 14. Commodities got hammered on Thursday, especially the grains, which are getting pounded again this...Read More
Domestic prices for ferrous scrap in Italy have moved down by ?,?5-10 per tonne so far in June, sources told Metal Bulletin.Metal Bulletin's monthly price assessment for domestic grade E3 scrap in Italy was ?,?280-300 ($328-351) per tonne delivered on Friday June 15, compared with ?,?285-305 per tonne delivered a month earlier.The decrease was mainly driven by negative sentiment on finished steel....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 United States import pig iron market has improved this week on rising scrap prices and the continued uptrend in the finished steel products markets - hot-rolled coil, in particular.No new bookings have been heard since late May, however, because steel mills have not started to restock yet.Metal Bulletin's weekly price assessment for US pig iron imports increased to $410-415 per tonne cfr on Fr...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump on Friday said he wished people would “sit up at attention” for him like North Koreans do for their leader Kim Jong Un, a quip that sparked instant outrage on social media and cable news.It was the latest example of a Trump remark about strongmen leaders - delivered in a deadpan style - to fall flat and fuel perceptions among his criti...Read More
BEIJING (Reuters) - China will impose an additional 25 percent tariff on 659 U.S. goods worth $50 billion, the official Xinhua news agency reported on Saturday, citing the Tariff Commission of the State Council.Tariffs on $34 billion of U.S. goods including agricultural products, autos and aquatic goods will take effect from July 6, Xinhua reported, citing the commission.Tariffs on other U.S. good...Read More