China's domestic stainless steel prices widened upward over the past week on nickel gains in recent days.Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,500-15,500 yuan ($2,303-2,461) per tonne including VAT for the week ended Thursday February 1, widening upward by 300 yuan per tonne from 14,500-15,200 yuan per tonne a week ear...Read More
- CFTC fines UBS, HSBC and Deutsche Bank millions of dollars each for gold price manipulation - Deutsche Bank 'engaged in a scheme to manipulate the price of precious metals futures contracts'- UBS 'attempted to manipulate the price of precious metals futures contracts'- HSBC engaged 'in numerous acts of spoofing with respect to certain futures products in gold and other precious metals'- Gol...Read More
The survey by the London Bullion Market Association of analysts' predictions for the gold price this year suggest a wild ride for bullion after a fairly uneventful 2017.The LBMA, a standards setting body for the industry, says the 34 analysts polled are divided on the paths that precious metal prices will take in 2018:"Opinions differ as to the level of US real interest rates, the likely impact...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Raw materialsIron ore prices ended Friday on the rise after experiencing declines early in the week. Metal Bulletin's 62% Fe Iron Ore Index came to $74.39 per tonne cfr Qingdao, amid gains in the futures and steel markets.Trading activity in the seaborne coking coal market remained thin on Friday, with...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Raw materialsIron ore prices ended Friday on the rise after experiencing declines early in the week. Metal Bulletin's 62% Fe Iron Ore Index came to $74.39 per tonne cfr Qingdao, amid gains in the futures and steel markets.Trading activity in the seaborne coking coal market remained thin on Friday, with...Read More
The market in the United Kingdom for grade-5C ferrous scrap has dropped this week, marking another weekly fall since the price was assessed on January 12, with suppliers cutting their offer prices in line with export demand.The move in the light iron scrap market in the UK follows a fall in trade to key destinations such as Turkey and the Indian subcontinent.The rate of steel scrap exports to Turk...Read More
JOHANNESBURG (miningweekly.com) - Aim-listed diamond mining company BlueRock Diamonds says it has received notice that its former CEO Riaan Visser, and certain companies controlled by him, intend to apply to place the company's operating Kimberley-based subsidiary, Kareevlei Mining, in provisional liquidation. The company has taken legal advice and is of the view that, based on currently...Read More
European stainless steel base prices have remained unchanged over the past week, with domestic prices under import pressure from cheaper Asian material, sources told Metal Bulletin on Friday February 2.Metal Bulletin's weekly base price assessment on Friday for 2mm, grade-304 CR stainless steel sheet was ?,?1,060-1,120 ($1,320-1,395) per tonne delivered in Northern Europe.Metal Bulletin's weekly b...Read More
JOHANNESBURG (miningweekly.com) - ASX-listed Lucapa Diamond Company and its partners Empresa Nacional de Diamantes and Rosas & Petalas have completed the first sale for 2018 from the Lulo diamond project in Angola, for this year.The sale of 4 170 ct of Lulo diamonds achieved proceeds of $9.14-million, representing an exceptional average price of $2 192/ct.AdvertisementThe latest sale takes tot...Read More
A sparkling future beckons for the coloured gemstones market, avers financial portal Safehaven. It cites commenter Charles Kennedy, who believes that gemstone prices, which have been increasing steadily in the past decade, could continue to increase on the back of surging demand. “The price of emeralds, for example, has increased by 500% since 2010, according to Gemfields plc.”Advertis...Read More
Some coated flat steel prices in Turkey have decreased over the past week, with demand remaining sluggish in the local market but strong in the export markets, sources told Metal Bulletin on Friday February 2.Demand was weak because buyers expect prices to fall, and the weak demand in the hot-rolled coil (HRC) market has had a knock-on effect in the coated coil market.Domestic pricesIn Northern Tu...Read More
The latest metal markets news and price moves to start the North American day on Friday February 2.Base metals prices on the London Metal Exchange were on divergent paths this morning, with nickel failing to hold on to recent gains and the three-month price retreating nearly $200 per tonne. Here's how base metals on the LME looked at 11:56am London time: Read our live futures report here.&nbs...Read More
Good morning from Metal Bulletin's offices in Shanghai as we bring you the latest news and pricing stories on Friday February 2.Nickel prices on the Shanghai Futures Exchange were the standout performers during Asian morning trading on Friday, benefiting from follow-through strength after a strong performance by the metal on the London Metal Exchange in the previous session as well as supply conce...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsGFG Alliance has been granted full planning permission for a new 400-worker alloy wheel factory next to the Liberty British Aluminium smelter at Fort William, Scotland, the company...Read More
SHANGHAI, Feb 2 (SMM) – SHFE nickel led the gains of base metals today with an over 2% rise while SHFE lead was up close to 1%. Copper increased by 0.72% and zinc was up 0.45%. Tin, however, edged down 0.6%.The ferrous complex saw coking coal jump almost 3% whereas coke was up close to 2%. Hot-rolled coil rose 1.6%, iron ore went up 1% and rebar edged up 0.51%.Copper: The SHFE 1803 copper co...Read More
SHANGHAI, Feb 2 (SMM) – SHFE nickel led the gains of base metals today with an over 2% rise while SHFE lead was up close to 1%. Copper increased by 0.72% and zinc was up 0.45%. Tin, however, edged down 0.6%.The ferrous complex saw coking coal jump almost 3% whereas coke was up close to 2%. Hot-rolled coil rose 1.6%, iron ore went up 1% and rebar edged up 0.51%.Copper: The SHFE 1803 copper co...Read More
SHANGHAI, Feb 2 (SMM) – SHFE nickel led the gains of base metals today with an over 2% rise while SHFE lead was up close to 1%. Copper increased by 0.72% and zinc was up 0.45%. Tin, however, edged down 0.6%.The ferrous complex saw coking coal jump almost 3% whereas coke was up close to 2%. Hot-rolled coil rose 1.6%, iron ore went up 1% and rebar edged up 0.51%.Copper: The SHFE 1803 copper co...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 22 points in pre-opening trade.Index futures were dipped lower following release of economic news at 8:30 AM EST. Consensus for January Non-farm Payrolls was 176,000 versus upwardly revised 160,000 in December. Actual was 200,000. Consensus for January Unemployment Rate was unchanged at 4.1%. Actual was unchanged at 4...Read More
SHANGHAI, Feb 2 (SMM) –Copper: A stronger Chinese yuan, a lower SHFE/LME price ratio, and tighter funds ahead of Chinese New Year led us to expect a rangebound trading for the SHFE copper contract. We see support at 52,500-53,000 yuan/mt today while LME copper may trade at $7,080-7,140/mt. Spot discounts are seen at 100-40 yuan/mt today with reluctant sellers. Aluminium: LME aluminium...Read More
Listen to this podcast airing on our site Saturday by clicking here or subscribe on iTunes here.The long-awaited correction in the stock market finally took place this week with the S&P 500, Dow, and other major averages currently down over 3% from their late-January highs. Is this the top or the end of the bull market?Financial Sense Newshour just had the honor of speaking with...Read More