Investing.com - Gold prices turned lower on Monday, pulling away from five-week highs after reports that the U.S. and China had started negotiations over escalating trade tensions eased fears over a possible all-out trade war.Gold futures for April delivery on the Comex division of the New York Mercantile Exchange were down $4.5 or 0.33% to $1,345.4 a troy ounce by 04:19 AM ET (08:19 GMT).Gold pri...Read More
Risk reversals rise, indicating increased demand for XAU/USD (gold) calls. The broad-based USD weakness post-Fed lifted the yellow metal to a five-week high of $1,350 last week. The surge in prices has boosted demand for the XAU/USD calls (buy gold), the risk reversals indicate. For instance, the one-month 25 delta risk reversals (XAU1MRR) are being paid at 0.6 XAU calls vs. 0.5 XAU puts on Marc...Read More
Comex copper prices on Monday March 26 remain at a December 2017 low with a potential trade war between the United States and China, along with increased warehouse stocks, weighing on the complex. Copper for May settlement on the Comex division of the New York Mercantile Exchange declined a further 1.80 cents or 0.6% to $2.9750 per lb. The red metal was pressured by a 37,575 tonne delivery into Lo...Read More
China's long-awaited crude oil futures started trading on the Shanghai International Energy Exchange (INE) on Monday March 26, with the most active front-month September contract closing 3.3% higher at the end of the trading day. The September crude futures contract, or SC1809, finished at 429.90 yuan ($68) per barrel, up 13.90 yuan per barrel from the INE-set starting price of 416 yuan per barrel...Read More
The latest metal markets news and price moves to start the North American day on Monday March 26.Copper prices on the London Metal Exchange dived this morning following another large delivery into LME-listed warehouses.Here is how the LME base metals complex looked at 12.17pm London time:For a snapshot of exchange news, check out our live futures...Read More
The latest news and price moves to start the Asian day on Tuesday March 27.Base metals prices on the London Metal Exchange closed mostly in positive territory on Monday March 26, barring copper and aluminium. Read more in our live futures report.Here are how LME prices looked at Monday's close:London-based metals merchant Concord Resources is eyeing opportunities, including those for physical...Read More
Global crude steel production rose by 3.5% year-on-year in February 2018 thanks partly to a sizable increase in China, according to statistics published by the World Steel Association (Worldsteel) on Monday March 26.World crude steel output was 131.79 million tonnes in February, compared with 127.34 million tonnes in the corresponding month of 2017.China, the world's largest steelmaking country, i...Read More
Gold futures rallied Friday to their highest finish in five weeks, notching a weekly gain of almost 3%, as the threat of a looming trade war between the U.S. and China intensified. "Gold's gains feel unexpected, but considering the growing volatility in the equity markets and uncertainty surrounding the Chinese-U.S. tariffs, the implications from a larger trade war are sending safety into precious...Read More
The main shareholders in Brazilian flat steel and iron ore producer Usiminas, Ternium and Nippon Steel & Sumitomo Metal Corp (NSSMC), have nominated six members to the company's executive board for the period from May 2018 to May 2020.Alberto Ono has been nominated for the position of finance and investor relations vice president, Miguel Homes for commercial vice president, and Kohei Kimura for te...Read More
The threat of a trade war between two of the largest world economies - the United States and China - has dragged down Asian steel prices over the past week.Flat and long steel prices showed big falls on Friday March 23 when end-users' demand for hot-rolled coil, wire rod, ferrous scrap and steel billets practically vanished while buyers waited for further declines.Fears of a trade war between the...Read More
The biggest steel producer in the United Arab Emirates, Emirates Steel, increased its rebar price to 2,412 dirhams ($657) per tonne ex-works for April production on Monday March 26.This is up from the previous 2,340 dirhams per tonne ex-works, a price that had been unchanged since January 16.Compatriot producer Conares Steel is now offering rebar...Read More
Lupaka Reports 9.86 g/t Au-Eq. over 130 m from Underground Sampling Program at the Invicta Gold Projectfuck me, that sounds great (link), but it is bullshit. They aren't lying directly to you, they've just resurrected one of those old favorite slights of hand (ECU Silver were famous for doing this) by trying to impress you by misrepresenting the size of their penes mineralization by using the...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebarUAE, domestic (Emirates Steel), rebar, offered at 2,412 dirhams ($657) per...Read More
The decision by the government of the United States to impose 25% import duty on steel imports using its Section 232 powers will decrease the volume of exports to the US from Al Ghurair Iron & Steel, despite strong demand, the company's senior executive has said.Abu Bucker Husain, chief executive officer of the flat steel re-rolling and coating company, was speaking on Monday March 26.United Arab...Read More
Chinese charge chrome and spot ferro-chrome slipped slightly on Friday March 23 in anticipation of lower Chinese ferro-chrome tender prices for April, while tightening supply pushed up US prices. Chinese charge chrome and spot ferro-chrome prices fall US high-carbon ferro-chrome quotations rise South Korea and Japan anticipate softening markets Stability reigns on European ferro...Read More
Consumer resistance to recent high prices pushed low-grade manganese ore prices lower on Friday March 23, while manganese alloy prices in Europe and the United States were unchanged in quiet market conditions. Consumer backlash drives low-grade ore prices lowerHigh-grade ore prices keep edging upChinese alloy futures and physical prices weaken furtherAlloy prices weaken in IndiaAlloy prices hold...Read More
Chinese tungsten concentrate prices fell for a second consecutive week in the latest pricing session amid sluggish demand while offers for ammonium paratungstate (APT) and ferro-tungsten fob China softened due to lower buying activity over the past week. APT market slows down Tungsten concentrate prices continue to fall amid weak demand Ferro-tungsten prices weaken in Europe, China Me...Read More
Chinese suppliers lowered their vanadium export prices to attract orders following the sharp price rise but thin deals earlier in the month, while European and US vanadium markets maintained their upward trend amid tight supplies there. Chinese suppliers lowered offers to attract orders. Low availability in Europe and United States supports regional prices. The Chinese vanadium export market...Read More
A summary of China's ferro-alloys imports in February 2018.Chrome ore Month total: 1.19 milion tonnes On month: -4.25% On year: -7.93%* Ferro-chrome Month total: 176,928...Read More
Worldwide output of direct-reduced iron (DRI) increased by 7.70% year-on-year in February 2018, driven by higher production in Iran, according to the World Steel Assn (Worldsteel).DRI output was 6.09 million tonnes in February 2018, compared with 5.66 million tonnes in February 2017, Worldsteel said on Monday March 26.But DRI production fell by 5.87% month on month, compared with 6.47...Read More