Jupiter Mines has generated unexpectedly strong cashflow as a result of robust manganese ore prices and is proposing that its South African mine Tshipi Borwa distributes 1.5 billion South African rand ($111 million) to shareholders this September.Metal Bulletin's 37% manganese ore index, fob Port Elizabeth, rose 11 cents week on week to $5.63 per dry metric tonne unit (dmtu) on Friday June 15. The...Read More
(Kitco News) -Gold and silver prices are modestly lower in early-afternoon U.S. trading Tuesday. Gold fell to a six-month low and silver hit a four-week low today. The precious metals have fallen victim to a general sell off in the raw commodity sector amid fears of a major world trade war developing. Adding to downside pressure on the metals today is a surging U.S. dollar index that hit an 11-mon...Read More
Key data from Metal Bulletin's Wednesday June 13 pricing session in China.Key drivers- Demand from downstream participants has waned.- Chinese steel mills have not been active in procuring cargoes, leaving molybdenum concentrate producers with no choice but to reduce offers to secure business.-...Read More
Gold Resource Corp. (NYSE American: GORO) announces that construction has begun at its Isabella Pearl open-pit heap leach gold project in Nevada. Clearing and grubbing operations began this week, and processing equipment is being readied for transport to the project site. “We target first gold production from Isabella Pearl in less than 12 months from today,” says Jason Reid, chief e...Read More
Gold has “descended into the abyss” despite intensifying trade tensions rattling financial markets and leaving investors on edge, with an appreciating U.S. dollar the main factor pushing the precious metal lower, says Lukman Otunuga, research analyst at FXTM. “With the dollar likely to find ample support amongst the bullish sentiment towards the U.S. economy and heightened e...Read More
Sentiment...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published....Read More
Turkish ferrous scrap import prices were relatively stable on Tuesday June 19, with only slight movement seen after news of three deep-sea cargo bookings emerged following a pause in the market the previous day.A steel mill in the Iskenderun region booked a cargo from the United States on Monday comprised of 15,000 tonnes of HMS 1&2 (80:20) at $355 per tonne cfr, 15,000 tonnes of plate a...Read More
New US tariffs and threats of...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as...Read More
Is Gold in trouble? The short answer is yes. Gold has been tumbling for the last couple of days as the markets starts to sell off. With the equities getting clobbered overnight the last three sessions, gold has not been the safety asset that many believe it is. The lack of volatility in equities is helping to keep the pressure on the metals. We are not from the school that gold is a safe-haven pla...Read More
A ferrous scrap cargo sold from the US East Coast to Turkey at higher prices on Monday June 18, indicating continued strength in the US scrap export market.One East Coast exporter sold 15,000 tonnes of an 80:20 mix of No 1 and No 2 heavy melting scrap at $355 per tonne cfr,...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
Aluminium Aluminium prices are under pressure after breaking...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus d...Read More
(Kitco News) - Gold prices remain under pressure and below critical support, following the release of mixed U.S. housing construction data. The Commerce Department's latest report showed that U.S. housing starts rose 5% into a seasonally adjusted annual rate of 1.35 million units in May, compared to April's revised figure of 1.286 million starts. Consensus forecasts compiled by most news organizat...Read More
Iron ore prices fell in both the physical and paper markets on Tuesday June 19 amid threats of a new round of tariffs by the United States on Chinese imports.Metal Bulletin 62% Fe Iron Ore Index: $66.45 per tonne cfr Qingdao, down by $2.04 per tonneMetal Bulletin 58% Fe Premium Index: $53.62 per tonne cfr Qingdao, down by $0.57 per tonneMetal Bulletin 65% Fe Iron Ore Index: $86.80 per tonne cfr Qi...Read More
Copper hit by broad-based sell-off across...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue...Read More
NEW YORK (Reuters) - U.S. President Donald Trump’s threat to escalate a trade conflict with China is likely a negotiating tactic and not a “suicide pact,” the chief executive of Goldman Sachs & Co said on Tuesday, criticizing the White House strategy as a risky tit-for-tat.“I don’t know if this is going to be the pattern of North Korea - a lot of bluster. And I do...Read More
There was little movement in the seaborne coking coal market on Tuesday June 19 with both buyers and sellers remaining on the sidelines.China's coke sector - which has been under strict production restrictions since early this year due to the Chinese government making an aggressive push toward cutting emissions - remains a major determining factor for price movements in the coking coal market."End...Read More
WASHINGTON/BEIJING (Reuters) - China has underestimated President Donald Trump’s resolve to press ahead with tariffs unless Beijing changes its “predatory” trade practices, a top U.S. trade advisor said on Tuesday, in comments that undercut the chances of a negotiated settlement to a looming trade war between the world’s economic superpowers.The threat of a growing trade co...Read More
Weaker macro backdrop, but lead’s...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as...Read More
Another ‘higher-low’ coming Although nickel prices have...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus d...Read More