* SPDR gold holdings fall to lowest since Feb. 2016 * Dollar index rises to six-week high(Adds quote, updates prices)By Sumita LayekBENGALURU, Oct 4 (Reuters) - Gold prices moved in a narrowrange on Thursday after upbeat U.S. economic data and hawkishcomments from Federal Reserve policymakers raised prospects ofthe central bank sticking to its tighter monetary policy,boosting the dollar.About half...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average rose to a record intraday high on Wednesday before pulling back. The blue-chip index has closed higher for four consecutive sessions. The U.S. private sector added 230,000 jobs in September, according to Automatic Data Processing Inc., beating estimates.General Motors Co. (GM) was up 3% aft...Read More
Long queues, expensive financing rates and strong demand continued to push premiums for cut nickel cathodes higher in Europe, while US nickel premiums continued to flat-line in the absence of spot-market demand. European 4x4 premiums continue rise on demand strength US premiums flat-line as spot demand takes second place to long-term negotiations.Cut nickel cathode premiumsThe premium for 4x4 nick...Read More
The prices of base metals on the London Metal Exchange were mixed at the close of trading on Wednesday October 3, with aluminium's three-month price up more than 4% amid a full closure of Norsk Hydro's alumina operations in Brazil, while lead struggled against trade woes. Reaching an intraday high of $2,220.50 per tonne over the afternoon, the three-month aluminium price continues to trade at its...Read More
Tin premiums across Europe and the United States were flat in the week to Tuesday October 2, with supply flows from Indonesia and other producing countries remaining steady amid a slowdown in business while the market awaits the start of LME Week 2018. Rotterdam 99.9% premium holds multi-year low amid oversupply US premiums flat on sparse trades European premiums hold firm with participants...Read More
Largo Resources Ltd continued to reach new production heights at its Maracas Menchen Mine during the third quarter, with the company achieving record vanadium pentoxide production and record vanadium recovery rates.The Toronto-based vanadium producer saw total production reach 2,563 tonnes of vanadium pentoxide (V2O5) at the Brazilian mine during the third quarter, setting a new quarterly producti...Read More
Supply disruption, strong demand, multi-year prices highs and subsequent supply responses have meant for another year of price swings and volatility across many of the minors metals, ores and ferro-alloys markets. And now, with LME Week and contract negotiating season coming around again, players must contend with Trump administration tariffs on imports of a number of China produced goods, includi...Read More
Largo Resources Ltd continued to reach new production heights at its Maracas Menchen Mine during the third quarter, with the company achieving record vanadium pentoxide production and record vanadium recovery rates.The Toronto-based vanadium producer saw total production reach 2,563 tonnes of vanadium pentoxide (V2O5) at the Brazilian mine during the third quarter, setting a new quarterly producti...Read More
Hydro is preparing for a full curtailment of operations at its alumina refinery in Brazil, the company announced today.Alunorte has been running at 50% production since March, following embargoes from Brazilian authorities. "Due to the embargo, Alunorte has been forced to operate only deposit area 1 (DRS1), which was originally planned to be phased out, and the less efficient drum filters. DR...Read More
Zinc concentrate treatment charges (TCs) have climbed to their highest level in two and a half years, with spot parcels trading at terms well above $100 per tonne in September.Fastmarkets MB assessed spot zinc concentrate TCs on a cif Asia Pacific basis at $115-135 per tonne at end of September, up from $80-95 per tonne a month earlier and the highest since May 2016. Terms for spot zinc concentrat...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Supply disruption, strong demand, multi-year prices highs and subsequent supply responses have meant for another year of price swings and volatility across many of the minors metals, ores and ferro-alloys markets. And now, with LME Week and contract negotiating season coming around again, players must contend with Trump administration tariffs on imports of a number of China produced goods, includi...Read More
The Wednesday Market Minute Global stocks edge higher, with markets in Europe and the U.S primed for modest opening bell gains, although renewed political headline risks keeps investors cautious.Reports that Italy will seek a lower budget deficit target have boosted the euro, while infighting among Conservative lawmakers in Britain over Brexit pushes pound to three-week lows.U.S. dollar and Trea...Read More
Turkish steel producers have resumed their deep-sea scrap bookings with a spot cargo deal, sources said on Wednesday October 3.A steel mill in the Iskenderun region booked a US cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $327 per tonne, 7,000 tonnes of shredded at $332 per tonne and 3,000 tonnes of bonus at $337 per tonne cfr on late Tuesday October 2.The cargo was scheduled to be shippe...Read More
Key data from the Wednesday October 3 pricing session in Europe. Key drivers The European ferro-titanium price range widened, with another small drop at the lower end of the range from the previous week, but enough buying interest to register trades at the upper end of the range.Industry sources say a major consumer in Europe has issued a tender for several hundred tonnes of ferro-titanium for de...Read More
Three-month base metals prices on the London Metal Exchange were for the most part firmer during morning trading on Wednesday October 3. The exceptions were tin where prices were down by 0.5% and nickel where prices were little changed. The rest were up between 0.2% for copper at $6,267 per tonne and 0.6% for zinc at $2,674 per tonne.With Chinese markets still closed for the Golden Week holiday, v...Read More
Supply disruption, strong demand, multi-year prices highs and subsequent supply responses have meant for another year of price swings and volatility across many of the minors metals, ores and ferro-alloys markets. And now, with LME Week and contract negotiating season coming around again, players must contend with Trump administration tariffs on imports of a number of China produced goods, includi...Read More
Demand for flat steel in Turkey was expected to remain slow throughout October, but prices were not expected to fall because they did so in September, and export demand was now strong, market participants told Fastmarkets on Wednesday October 3.Local producers have filled their order books until November, they said.The price falls in September were in part a result of the Turkish lira losing a sig...Read More
Domestic prices for heavy steel plate in both North and South Europe have declined over the week due to poor trading and lower slab costs, sources told Fastmarkets on Wednesday October 3.Fastmarkets MB's weekly price assessment for domestic grade-S235JR heavy steel plate in Southern Europe moved down to ?,?580-590 ($670-681) per tonne ex-works on October 3, from ?,?585-595 per tonne ex-works a wee...Read More
Domestic prices for hot-rolled coil in Europe inched down this week despite some higher offers for the material from Turkey, sources told Fastmarkets MB on Wednesday October 3."Turkish mills have been less aggressive with their offers to Europe,," a Southern European source said. "it seems that the reason behind it is the currency exchange-rate change."The Turkish lira has gained 7.56% a...Read More