WASHINGTON (Reuters) - U.S. job growth increased less than expected in April and the unemployment rate dropped to near a 17-1/2-year low of 3.9 percent as some out-of-work Americans left the labor force.The Labor Department’s closely watched employment report on Friday also showed wages barely rose last month, which may ease concerns that inflation pressures are rapidly building up, likely k...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 12 points in pre-opening trade.U.S. equity index futures were virtually unchanged following release of the April Employment Report. Consensus for Non-farm Payrolls was 185,000 versus an upwardly revised 135,000 in March. Actual was 164,000. Consensus for the Unemployment Rate was 4.0% versus 4.1% in March. Actual was...Read More
(Kitco News) - Wall Street and Main Street both look for gold to continue its recovery next week, based on the Kitco News weekly gold survey.Comex June gold this week fell as far as $1,302.30 an ounce, its weakest level of the year. Since, however, prices have ticked higher again. One widely anticipated event that occurred this week was a Federal Open Market Committee meeting in which interest rat...Read More
CEO Jeff Olsen said the Salt Lake City-headquartered company, which claims to be the world's leading supplier of drilling services, equipment and tooling for mining and drilling companies, saw increased rig and tooling sales. It also boasted of productivity improvements in its drilling services unit. Revenues were up US$24 million to $188 million, EBITDA was $13 million equating to a $17 mill...Read More
Listen to this podcast on our site by clicking here or subscribe on iTunes here.Chris Steele at ITR Economics recently gave an update on their commodity and economic outlook with FS Insider. They expect a slowdown around the 2019 timeframe and commodities to generally start peaking out in the months ahead. Chris also explained their view on steel tariffs and why they're ultimately a...Read More
Free Zinc Tips – Zinc BUY Call 7b3 given at price 202.10 Achieved 1st Target 203.70 (Made 203.80 high) Total profit of 1.6 Points per lot7b3 :Zinc Carry Call - BUY Zinc at CMP 202.10 for Target Tomorrow 203.70 - 204.20 with SL below price 201.20AFTER POST CONTENT Read More
SHANGHAI, May 4 (SMM) – Nonferrous metals futures saw mixed trading on Friday May 4 with SHFE zinc leading the loss with a dip of nearly 2%. Nickel fell almost 1%, while copper, aluminium, lead, and tin inched up.The ferrous complex saw iron ore dropping over 1%. Rebar lost nearly 1%, and hot-rolled coil slid almost 0.7%. Coke and coking coal went up slightly.Copper: The SHFE 1807 contract c...Read More
SHANGHAI, May 4 (SMM) –Copper: Technically, LME copper struggles at the 40-day moving average with support at the five-day moving average. With weak support, the SHFE 1807 contract failed to stand above the moving averages. We expect copper prices to stabilise today with LME copper trading at $6,830-6,890/mt and the SHFE 1807 contract at 51,000-51,500 yuan/mt. Spot discounts are se...Read More
BRUSSELS (Reuters) - EU ambassadors have backed watered-down proposals to tackle unfair competition from foreign airlines following opposition from some member states to the threat of revoking flying rights across the bloc, six people familiar with the matter said.European Union members are considering a legislative proposal that would allow EU governments or airlines to submit complaints to the E...Read More
SHANGHAI, May 4 (SMM) – The 2018 annual benchmark zinc concentrate treatment charges (TCs) dropped 14.5% from that of 2017 to a 12-year low as supply dwindled.The settlement at $147/dmt was delayed for two months and was reportedly reached between Teck Resources and Korea Zinc. This compared with TCs at $172/dmt last year.Zinc concentrate supply has been declining over the past few year...Read More
(Kitco News) - Gold prices have quickly lost modest gains that occurred in the aftermath of the U.S. jobs report. The U.S. dollar index has pushed to solidly higher levels on the day. It appears that traders read the U.S. jobs report as initially downbeat, as the non-farm payrolls rise of 164,000 in April did not meet expectations for a gain of 195,000. However, the overall U.S. unemployment rate...Read More
Zinc Carry Call – BUY Zinc at CMP 202.10 for Target Tomorrow 203.70 – 204.20 with SL below price 201.20AFTER POST CONTENT Read More
HiSeis was established in 2009 to commercialise the work of Curtin professors Anton Kepic and Milovn Urosevic that enabled the application of seismic technology to minerals exploration.While seismic had traditionally been used in oil and gas exploration, the technique was limited in mining due to properties of the hard rock geology usually associated with minerals.The research team was able to ove...Read More
WASHINGTON (Reuters) - U.S. trade officials had candid trade discussions with their Chinese counterparts, the White House said in statement on Friday following a two-day bilateral meeting in Beijing, adding that President Donald Trump will decide the next steps.“The delegation held frank discussions with Chinese officials on rebalancing the United States-China bilateral economic relationship...Read More
SHANGHAI, May 4 (SMM) – SMM assessed imported clean copper concentrate treatment charges (TCs) at $71-78/mt on Friday May 4, with the average up $0.5/mt from a week ago.Smelters slowed down stockpiling this week as most have procured sufficient cargoes for the second quarter, SMM learned. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on...Read More
As a possible near-term scenario mentioned in this column last week, the gold price has indeed been sold down to the $1300 level this week while the surging U.S. dollar has reached the 92 region on the Cash Settle Index. Although the GDX has done a yoeman job of keeping one step ahead of both gold and U.S. equities since early February, there are clear signals the $1300 - $1365 three-month range i...Read More
SHANGHAI, May 4 (SMM) –Copper: Technically, LME copper struggles at the 40-day moving average with support at the five-day moving average. With weak support, the SHFE 1807 contract failed to stand above the moving averages. We expect copper prices to stabilise today with LME copper trading at $6,830-6,890/mt and the SHFE 1807 contract at 51,000-51,500 yuan/mt. Spot discounts are se...Read More
Today Aluminium Tips – Aluminium BUY Call 7b0 given at price 156.10 Achieved 2nd Target hit at price 157.50. Made 157.70. Total profit of 1.4 Points per lot7b0 : Intraday Aluminium - Buy Aluminium at CMP 156.10 for Target 157 - 157.50 with SL Below price 155AFTER POST CONTENT Read More
WASHINGTON (Reuters) - U.S. President Donald Trump on Friday said the U.S. was not taking a harder stance against China because of his respect for Chinese President Xi Jinping.“I have great respect for President Xi. That’s why we’re being so nice,” Trump told reporters at the White House. His comments came just hours after China announced that large disagreements still loom...Read More
SHANGHAI, May 4 (SMM) – Spot copper was mostly offered at a discount of 30 yuan/mt to a premium of 10 yuan/mt over the SHFE 1805 contract on Friday May 4 in the Shanghai market. This compared with a discount of 60 yuan/mt to a premium of 10 yuan/mt on Thursday.Sellers increased their offer prices as the SHFE 1805 contract gained over 200 yuan/mt from the previous day and rose to a high of 51...Read More