European alloy steel surcharges for May deliveries of grade-304 cold-rolled (CR) stainless steel sheet have risen for the fourth consecutive month on an increase in nickel costs.The May alloy surcharge for 2mm grade-304 CR stainless steel sheet - based on data published by Outokumpu, Acerinox and Aperam - is ?,?1,385-1,434 ($1,683-1,742) per tonne. This is up month-on-month from April's surcharge...Read More
(Kitco News) - Gold prices are slightly higher in early U.S. trading Friday, on a modest corrective bounce from selling pressure that drove prices to a five-week low overnight. A solid rally in the U.S. dollar index this week is still squelching buying interest in the precious metals. June Comex gold futures were last up $1.10 an ounce at $1,319.30. May Comex silver was last down $0.026 at $16.465...Read More
Base metals prices on the London Metal Exchange were broadly down this morning, Friday April 27, with only aluminium in positive territory - up by 0.8% at $2,289 per tonne. The rest were all lower by an average of 0.3%. Volume is up from this time on Thursday, but at 4,449 lots as of 06.16 am London time is still below average. Thursday’s trading started on a weak footing, but most of the met...Read More
Mcx Lead – SELL 2 lot lead at CMP 155.85 for Target 154.50 – 154.0 with SL Above price 156.80AFTER POST CONTENT Read More
SHANGHAI, Apr 27 (SMM) – Cargos with invoices for May traded more actively than those with April invoices while downstream buyers stockpiled on Friday April 27 before the Labour Day holiday, SMM learned.In Shanghai, #0 zinc mostly traded at 24,020-24,140 yuan/mt. The 0# common brands with invoices for May were offered at a premium of 150-170 yuan/mt over the SHFE 1805 contract with 0# Shuang...Read More
SHANGHAI, Apr 27 (SMM) –Copper: LME copper rebounded from a low and traded rangebound overnight. Technically, it continued to stand above all moving averages with sufficient support but its trading level dipped. The SHFE 1806 contract came off a high with support at the 10-day moving average and resistance at the five- and 60-day moving averages. We expect LME copper to trade at $6,900-...Read More
Shares in education firm Malvern International PLC (LON:MLVN) leapt up 14.9% to 3.8p in late-afternoon trading after it said it expected to become profitable in 2018 after losses narrowed on higher revenue.In its result for 2017, the group saw pretax losses narrow to ?706,712 from ?1.3mln the year prior on revenues of ?4.08mln, up from ?4.04mln the year before.Profit performance was helped by...Read More
Data on China’s gold imports from Hong Kong suggest that Chinese demand for the precious metal has been “subdued,” says Commerzbank. Analysts cite a report from the Census and Statistics Department of the Hong Kong government showing that China imported 59.4 tonnes of gold on a net basis from Hong Kong in March. “Though this was 79% up on the previous month, which was disto...Read More
The Turkish ministry of economy has started an investigation into the impact of steel imports on the country's domestic steelmaking industry, it said on Friday, April 27. Market participants believe the investigation is a precautionary measure against the Section 232 tariffs being introduced by the US, because Turkey may become an open market for dumped products once the US measures start to...Read More
HOUSTON (Reuters) - Weak refining margins hurt Exxon Mobil Corp (XOM.N) and Chevron Corp’s (CVX.N) first-quarter profit, cutting into overall gains from rising oil prices.It was the second consecutive quarter that refining weakness, especially outside the United States, clipped improved profit.Strength in the Chevron division that pumps oil and gas helped overcome the refining weakness and b...Read More
MCX ZINC CALLS TODAYMcx Zinc Calls Today – Zinc BUY Call 700, given at price 208.65 Achieved 3rd Target 210.70. Total profit of 2.05 x 2 lot = 4.10 Points Profit700 : Zinc Intraday - BUY Zinc at CMP 208.65 with Small SL 207.95 for Target 209.50 - 210 - 210.70. Trade with 2 lots todayAFTER POST CONTENT Read More
Although the recent pattern in gold has become ugly, there should be a dead-cat bounce in the metal in the next couple of days. Gold has been in a consolidation pattern for months and once again the metal is coming down to the bottom end, which suggests a bounce. Even if gold headed lower, which is expected, a healthy bounce to $1,330-$1,340 is in the cards. Gold has become very oversold the last...Read More
The Turkish ministry of economy has started an investigation into the impact of steel imports on the country's domestic steelmaking industry, it said on Friday, April 27. Market participants believe the investigation is a precautionary measure against the Section 232 tariffs being introduced by the US, because Turkey may become an open market for dumped products once the US measures start to...Read More
TORONTO (Reuters) - The TMX Group (X.TO), which operates the Toronto Stock Exchange and other exchanges, said on Friday it was shutting down all markets for the rest of the day after experiencing issues with trading on all its exchange platforms.“TMX has decided to shut down all markets for the remainder of the day. Trading will not resume today, including market on close,” TMX Group s...Read More
The American Society of Civil Engineers student chapter at Colorado School of Mines sent 46 students to the Rocky Mountain Regional Student Conference in Rapid City, South Dakota, to compete in concrete canoe, steel bridge and mystery design April 6-7. Despite challenging weather conditions, Mines students made a strong showing in both the team and individual events.The Mines concrete canoe team...Read More
SHANGHAI, Apr 27 (SMM) –Copper: LME copper rebounded from a low and traded rangebound overnight. Technically, it continued to stand above all moving averages with sufficient support but its trading level dipped. The SHFE 1806 contract came off a high with support at the 10-day moving average and resistance at the five- and 60-day moving averages. We expect LME copper to trade at $6,900-...Read More
Copper Carry Call – BUY Copper at 452.8 – 452.20 (CMP 452.70) for Target 456 – 458 with SL below price 449.80AFTER POST CONTENT Read More
(Reuters) - The Taiwanese government has ordered all of the island’s companies that sell to Chinese telecom equipment maker ZTE Corp to suspend shipments until they obtain approval, the Nikkei business daily reported on Friday.The news comes the week after the United States banned American companies from selling components to ZTE for seven years, after the Chinese firm failed to comply wit...Read More
Gold prices have remained under pressure in recent days despite a growing laundry list of concerns, from falling equities and rising treasury yields to continued geopolitical worries. To the frustration of many, gold has been unable to break out of its nearly 4-month consolidation between $1300 to $1365 but the miners have been quietly outperforming during the past two months. While the safe have...Read More
Matt Zappulla, a doctoral student in mechanical engineering at Colorado School of Mines, has been named the winner of the 2018 Willy Korf Award for Young Excellence. The award, given out annually by the Willy Korf Foundation since 2000, recognizes those who contribute to the technological development of the iron and steel industry. Korf built a global steel empire before losing his life in a plan...Read More