Dave Kranzler, Mining Stock JournalThe price of gold has held firm at the $1460 (front-month contract basis, not the Kitco "spot" price) level despite the constant price attacks that have been occurring overnight and into the Comex floor trading hours since early November.On an intra-day basis gold has managed to hold continuous aggressive attempts to push the price below $1460 for the last 6 tr...Read More
A summary of base metals premiums from across the globe for the week to Tuesday December 3.Please click...Read More
Stage is set for big rally in gold and silver unless various US November jobs numbers beat street expectation by a big margin. U.S. President Donald Trump announced tariffs on metal imports from Brazil and Argentina. USA has threatened to impose new tariffs on trade with the European Union after the World Trade Organization (WTO) ruled that the EU had not complied with an order to halt illegal s...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday December 3 that are worth another look.ArcelorMittal has increased its offer prices in Europe for all flat steel products by ?,?40 ($44) per tonne, effective immediately, market sources told Fastmarkets on December 3.A second major aluminium producer has offered the light metal for delivery in the first quarter of 2020 to main J...Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Tuesday November 3, with this morning's fresh cancelation of 1,326 tonnes doing little to negate selling pressure, while the metal's benchmark cash/three-month spread reached its widest level since July. Nickel's outright price on the LME closed at $13,375 per tonne this afternoon, softening by more than...Read More
Three-month lead traded lower during the morning session on the London Metal Exchange on Tuesday December 3, with low liquidity conditions capping a move above nearby resistance levels, while tin's outright price recorded the only move higher. Lead's underlying price on the LME was recently seen at $1,894 per tonne, dipping below the $1,900-per-tonne support level, with just 870 lots exchanged ove...Read More
While the metal markets have hardly been bullish, United States President Donald Trump undermined confidence across broad markets when he re-imposed tariffs on steel and aluminium imports from Argentina and Brazil and threatened France with tariffs too.This has raised concerns that a US-China trade deal may be delayed, especially following Trump's signing legislation supporting protesters in Hong...Read More
Will the price rise in 2020? Tune-in to find out! Roundtable with James Anderson, Chris Marcus, Louis Cammarosono, & Philip Kennedy via Kennedy FinancialLouis Cammarosano, James Henry Andersen and Chris Marcus discuss the state of the #silver and #gold market! Will the #price rise?! Find out! Read More
Gold & silver are on the move on Tuesday morning. The stock market, yield on the 10-Year Note and the dollar are dropping, and for good reason...Update 1 (10:20 a.m. EST): Gold & silver have completely erased their losses from one week ago:Let's see if we can go out on the highs of the day.If so, that would be bullish.Additionally, notice on the chart above that the dollar is looking like it want...Read More
Rebar prices in Russia's major steel-consuming region, the Central Federal District around Moscow, have gone down further due to seasonally weak demand from end-users, sources told Fastmarkets on Monday December 2.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, including 20% VAT, was 31,000-32,000 roubles ($482-498) per tonne on Monday December...Read More
Suppliers of hot-rolled and cold-rolled steel sheet to Russia's Central Federal District around Moscow have reduced their prices for December, but intend to put them back up for January, sources told Fastmarkets on Monday December 2.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 39,000-39,500 roubles ($606-614) per tonne on December 2, including...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday December 3 that are worth another look.ArcelorMittal has increased its offer prices in Europe for all flat steel products by ?,?40 ($44) per tonne, effective immediately, market sources told Fastmarkets on December 3.A second major aluminium producer has offered the light metal for delivery in the first quarter of 2020 to main J...Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Tuesday November 3, with this morning's fresh cancelation of 1,326 tonnes doing little to negate selling pressure, while the metal's benchmark cash/three-month spread reached its widest level since July. Nickel's outright price on the LME closed at $13,375 per tonne this afternoon, softening by more than...Read More
Lead concentrate spot treatment charges (TCs) continued to rise in November, with buy-side liquidity slim amid a still-shut arbitrage window for Chinese imports. Refining charges (RCs) also remain high, around $1.20-1.30 per oz for material with high silver content. Lead concentrates with low silver content are trading with RCs at $1.50 or above. Fastmarkets assessed the lead spot concentrate...Read More
Three-month lead traded lower during the morning session on the London Metal Exchange on Tuesday December 3, with low liquidity conditions capping a move above nearby resistance levels, while tin's outright price recorded the only move higher. Lead's underlying price on the LME was recently seen at $1,894 per tonne, dipping below the $1,900-per-tonne support level, with just 870 lots exchanged ove...Read More
Sustained import losses for copper and zinc in November have caused Shanghai-bonded stocks to rise for the two base metals by around 3%, while a reversal of import conditions for nickel encouraged some trading houses to draw down bonded nickel stocks last month. Shanghai-bonded copper stocks moved up in November on low interest for imported material following a wider arbitrage loss this month, mar...Read More
Norsk Hydro plans to reduce output by 20% at its majority-owned Slovalco primary aluminium smelter in Slovakia, citing a weakening market, the company announced on Monday December 2."The board of directors at Hydro's majority-owned Slovalco primary aluminium plant in Slovakia has decided to recommend to the shareholders of the company to curtail maximum 20% of the plant's primary aluminium product...Read More
An expected uptrend in the United States' December ferrous scrap settlement has offset ongoing weak demand and made mill list prices for beams relevant once again, according to market sources. Fastmarkets' monthly price assessment for steel beams 8 x 8-inch, fob mill US gained $1 to reach $33.75 per hundredweight ($675 per short ton) on Monday December 2, moving in line with mill list pr...Read More
ArcelorMittal has increased its offer prices in Europe for all flat steel products by ?,?40 ($44) per tonne, effective immediately, market sources told Fastmarkets on Tuesday December 3.ArcelorMittal's new offer for first-quarter rolling hot-rolled coil was ?,?450 ($497) per tonne ex-works in Germany.Fastmarkets' latest weekly price assessment for steel HRC, domestic, exw Northern Europe, was ?,?4...Read More
The Arab Iron & Steel Union (AISU) held its annual summit in Tunis, Tunisia, on November 27-28. Here are four things that Fastmarkets learnt at the event:Mena region steel consumptionSteel consumption in the Middle East-North Africa (Mena) region is expected to rise to 41 million tonnes in 2020, compared with 40 million tonnes in 2019, AISU secretary-general Kamel Djoudi said.The key driver of hig...Read More