By Frank HolmesStrengths? The best performing metal this week was gold, down 1.26 percent. China's demand for gold jewelry rose 10 percent last year to around 700 metric tons due to increasing wealth of residents. China is the largest market for gold in the world.? Gold demand is also on the rise in India, the second largest consumer of gold, with purchases expe...Read More

China's rebar futures increased on Monday February 12 as the country's steel production hub announced more manufacturing restrictions, while spot prices were stable amid sparse trading ahead of the Chinese New Year holiday. Domestic Eastern China (Shanghai): 3,860-3,920 yuan ($613-623) per tonne, unchanged. Northern China (Beijing): 3,950-3,990 yuan per tonne, unchanged. Ferrous futures jumped by...Read More

Current Position of the MarketSPX: Long-term trend - The bull market is continuing with a top expected in the low 3000s.Intermediate trend - An intermediate correction from 2872 is currently underway.Analysis of the short-term trend is done on a daily basis with the help of hourly charts. It is an important adjunct to the analysis of daily and weekly charts which discusses the course of longer mar...Read More

By Avi GilburtFor those that follow me regularly, you will know that I have been tracking a set up for the VanEck Vectors Gold Miners ETF (NYSEARCA:GDX), which I analyze as a proxy for the metals mining market. I believe that the GDX can outperform the general equity market once we confirm a long term break out has begun, and I still think we can see it in occur in 2018. But, after last week's b...Read More

Ferro-chrome prices held in China and chrome ore prices weakened, as spot trading wound down ahead of Chinese New Year, after mills had bought in early. Ferro-chrome prices hold in China as holidays approachChrome ore prices edge lowerAlloy prices jump in Japan, South KoreaAlloy prices jumping Asia as special steel orders growUS alloys prices edge higher Ferro-chrome prices held in China and chrom...Read More

Listen on BlogTalkRadioKerry Lutz of the Financial Survival Network (FSN) interviewed GoldCore's Mark O'Byrne about the outlook for crypto currencies, financial markets and precious metals.- Are bitcoin and crypto prices being manipulated like precious metals?- Is there a coordinated backlash against bitcoin from JPM and powerful interests?- 95% of cryptocurrencies and ICOs will likely go to zer...Read More

The Indian government has imposed a 20% export duty on graphite electrodes, according to the International Rebar Producers & Exporters Association (Irepas).The Indian government has imposed a 20% export duty on graphite electrodes, according to the International Rebar Producers & Exporters Association (Irepas).The decision was taken in order to "improve domestic [electrode] supplies and promote th...Read More

RAPAPORT... De Beers' joint venture with the Namibian government is seekinga buyer for its Elizabeth Bay operation, as the miner diverts resources to its marineprojects. Namdeb closed ElizabethBay between 2009 and 2011, when it revived it and gave it a projected lifespanof four years. While the mine is expected to continue to produce diamonds through 2019, itsoutput does not meet De Beers' needs....Read More

RAPAPORT... Indian diamond manufacturer Asian Star's revenue jumped 40%year on year to $162.7 million (INR 10.47 billion) in the third fiscal quarter,the company reported last week. Profit morethan trebled to $7.5 million (INR 484.9 million) for the three months ending December 31,including subsidiaries. Revenue from the diamond division surged 45% to $145.2million (INR 9.34 billion), while...Read More

(IDEX Online) - Namdeb Holdings, a 50/50 joint venture between the government of Namibia and the De Beers Group, is seeking a buyer for its Elizabeth Bay mine to secure its long-term future.   The mine was commissioned in 1991 and is located on the south-western coast of Namibia near the town L? 1/4 deritz. It employs around 160 people and produced around 200,000 carats in 2017.   Elizab...Read More

The copper price trading on the London Metal Exchange managed to hold on to most of its early morning gains to close $76 per tonne higher on Monday February 12. The three-month copper price is now trading back above $6,800 per tonne and the red metal continues to stabilize after falling to a two-month low after the equity market plummeted and the dollar recovered. The majority of metals closed in...Read More

(IDEX Online) - U.S. consumers are expected to spend an average $143.56 on Valentine's Day with 55 percent of the population celebrating this year, an increase from last year's $136.57, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics.   Total spending is expected to reach $19.6 billion, up from $18.2 billion last year. The...Read More

RAPAPORT... Alex and Anihas filed a countersuit against Sterling Jewelers, claiming the retailer breached a supply agreement between the two companies, according to court filings.In August 2015, the companies entered into anagreement whereby Sterling would purchase Alex and Ani merchandise to sell insome of its Jared stores. But Sterling, a division of Signet Jewelers, struggled tosell all the goo...Read More

The Turkish deep-sea scrap import market went quiet on Monday February 12, digesting the latest bookings done at the end of last week.Turkish steelmakers were active in the bulk ferrous scrap market over the preceding seven days, booking at least eight bulk ferrous scrap cargoes from suppliers in the United States, the UK and...Read More

RAPAPORT... Lucapa Diamond Company garnered $9.1 million at its January rough sale, achieving an average price of $2,192 per carat.  The miner sold 4,170 carats at the tender, its first of the year, it said in a recent statement. The diamonds are from the company's Lulo alluvial mine in Angola. Additionally, Lucapa has recovered its first stones -including a 6.6-carat diamond - from its Motha...Read More

Tungsten prices climbed higher last week in Europe amid tightening spot supply, while the Chinese market has started to wind down ahead of the week-long national holiday for Chinese New Year. China's tungsten market starts to wind down ahead of Lunar New Year Tightness in tungsten concentrate to continue in the first quarter ahead of China's National People's Congress scheduled for March&nbs...Read More

Comex copper prices bounced back on Monday February 12 morning in the US due to a weaker dollar and the market stabilizing after heavy losses last week.Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 4.15 cents or 1.4% to $3.0750 per lb. On Friday, the contract tumbled to its lowest point since December 14, 2017.Base metals were driven lower last week whi...Read More

SHANGHAI, Feb 12 (SMM) – Only SHFE aluminium resisted a drop among nonferrous metals today with a rise of close to 1%. SHFE tin lost 1.5% while zinc was down over 1%.In the ferrous complex, coking coal and rebar edged up when iron ore was down around 1% and coke was down 0.73%. Hot-rolled coil also slipped.Copper: The SHFE 1804 copper contract was trading below all moving averages as the mar...Read More

The latest metal markets news and price moves to start the North American day on Monday February 12.Base metals prices on the London Metal Exchange were mostly higher during morning trading on Monday February 12, with the complex attempting to rebound from last week's choppy trading conditions.Here's how LME base metals prices looked at 11:46am London time:Read...Read More

SHANGHAI, Feb 12 (SMM) – Only SHFE aluminium resisted a drop among nonferrous metals today with a rise of close to 1%. SHFE tin lost 1.5% while zinc was down over 1%.In the ferrous complex, coking coal and rebar edged up when iron ore was down around 1% and coke was down 0.73%. Hot-rolled coil also slipped.Copper: The SHFE 1804 copper contract was trading below all moving averages as the mar...Read More