WASHINGTON (Reuters) - The Trump administration this week will unveil a list of advanced technology Chinese imports targeted for U.S. tariffs to punish Beijing over technology transfer policies, a move expected to intensify trade tensions between the world’s two largest economies.U.S. tariffs on $50 billion to $60 billion worth of annual imports is expected to be levied on products benefitin...Read More
Editor's Note: The article was updated to reflect higher gold prices in delayed reaction to the data.(Kitco News) -In delayed reaction, the gold market is pushing to session highs, after sentiment in the manufacturing sector fell in March, according to the last data from the Institute for Supply Management (ISM).Monday, the ISM said its manufacturing index showed a reading of reading 59.3% for Ma...Read More
Central banks were net buyers of gold in February and are likely to remain so, says Standard Chartered. “Appetite to sell was limited, sensitivity to price volatility was muted, and purchases were dominated by a small number of consistent buyers of size who view gold as a key asset,” Standard says. Russia added 22.8 tonnes of gold to its official reserves, following purchases of 18.9 t...Read More
(Kitco News) - Gold opened the new quarter on renewed buying interest. Gold held our $1,322 level going into the long weekend and aggressive buying emerged at the Asian open overnight. The Chinese have shot back and leveled tariffs on 128 U.S. products, which reignited the possibility of a trade war between the world's two largest economies. The U.S. equity market continues to struggle and t...Read More
Gold has been consolidating for months. In fact, the entire first quarter was traded in a big range. Gold never broke out to the upside or broke out to the downside. There have been many false starts in both directions, but each time, gold came to that key moment it reversed and went the other way. There is no end in sight for this wide consolidation pattern, but it will break out one way or the o...Read More
Billet prices in the global markets except India continued to fall during the work week from Monday March 26 to Friday March 30 due to negative sentiment caused by the uncertainty over the United States' Section 232 tariffs.Demand was sluggish in major markets such as Turkey, the Commonwealth of Independent States, the Middle East and North Africa, and Southeast Asia over the past week, and no sig...Read More
Billet prices in the global markets except India continued to fall during the work week from Monday March 26 to Friday March 30 due to negative sentiment caused by the uncertainty over the United States' Section 232 tariffs.Demand was sluggish in major markets such as Turkey, the Commonwealth of Independent States, the Middle East and North Africa, and Southeast Asia over the past week, and no sig...Read More
Base metals traded on the Shanghai Futures Exchange were all higher during Asian morning trading on Monday April 2, but gains were somewhat limited in some of the metals following the release of two sets of Chinese manufacturing data showing mixed results.The most-traded copper contract on the SHFE was at 50,210 yuan ($7,994) per tonne as of 10.56am Shanghai time, up by 30 yuan per tonne from Frid...Read More
The Chinese silicon export market weakened further this past week, with exporters again lowering their quotations to attract business amid continued sluggish demand.The Chinese grade 553 silicon export price slipped to $1,940-1,980 per tonne on Friday March 30, from $1,960-2,000 per tonne a week earlier. The majority of quotations that buyers received from Chinese suppliers were around $1,950 per...Read More
European antimony prices weakened further last week after material continued to flow into warehouses in Rotterdam while demand remained muted. The Chinese market followed suit with domestic prices there also coming under pressure from feeble demand.Metal Bulletin assessed the MMTA standard grade II antimony in-warehouse Rotterdam price at $8,500-8,660 per tonne on Wednesday March 28, down by 0.1%...Read More
China's hot-rolled coil prices gained some strength on Monday April 2 though trading thinned after the paper market lost its steam during the day.DomesticEastern China (Shanghai): 3,860-3,880 yuan ($615-618) per tonne, up 40 yuan per tonneNorthern China (Tianjin): 3,850-3,870 yuan per tonne, up 60 yuan per tonneHRC prices increased after the futures contract for the flat steel product opened high....Read More
China's ferrous futures decreased during morning trading on Monday April 2, losing the gains made during last Friday night's trading session.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,366 ($536) per tonne, down 61 yuan per tonne May hot-rolled coil: 3,707 yuan per tonne, down 37 yuan per tonne Dalian Commodity Exchange May iron ore: 445 yuan per tonne, down...Read More
China's rebar prices experienced big gains on Monday April 2, especially in the domestic segment, following a surge in the billet market over the weekend.Domestic Eastern China (Shanghai): 3,700-3,740 yuan ($589-595) per tonne, up 140-150 yuan per tonneNorthern China (Beijing): 3,780-3,800 yuan per tonne, up 60-70 yuan per tonneBillet prices rose sharply during the weekend due to strong demand, wh...Read More
With competition in the global steel markets remaining fierce, Metal Bulletin provides an update on the new, progressing and closed trade cases from around the world in March 2018.The case list below includes only updates. For other continuing cases...Read More
Anglo American has again halted iron ore output at its Brazilian Minas-Rio operation, with the company's shipments affected after a pulp leakage at its slurry pipeline on Thursday March 29."The supply is paralyzed, as the stock level of 700,000 tonnes of iron ore ended," the miner told Metal Bulletin on April 2."We are now negotiating [the issue] with each client," it added.The company supplies th...Read More
Big gains in the billet market over the weekend gave support to tender prices on the seaborne iron ore market on Monday April 2, though premiums for the most-liquid Pilbara Blend fines continued to weaken.Metal Bulletin 62% Fe Iron Ore Index: $65.80 per tonne cfr Qingdao, up by $0.81 per tonne Metal Bulletin 58% Fe Premium Index: $52.49 per tonne cfr Qingdao, up by $0.49 per tonne Metal Bulletin 6...Read More
China's ferrous futures decreased during morning trading on Monday April 2, losing the gains made during last Friday night's trading session.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,366 ($536) per tonne, down 61 yuan per tonne May hot-rolled coil: 3,707 yuan per tonne, down 37 yuan per tonne Dalian Commodity Exchange May iron ore: 445 yuan per tonne, down...Read More
Big gains in the billet market over the weekend gave support to tender prices on the seaborne iron ore market on Monday April 2, though premiums for the most-liquid Pilbara Blend fines continued to weaken.Metal Bulletin 62% Fe Iron Ore Index: $65.80 per tonne cfr Qingdao, up by $0.81 per tonne Metal Bulletin 58% Fe Premium Index: $52.49 per tonne cfr Qingdao, up by $0.49 per tonne Metal Bulletin 6...Read More
China's rebar prices experienced big gains on Monday April 2, especially in the domestic segment, following a surge in the billet market over the weekend.Domestic Eastern China (Shanghai): 3,700-3,740 yuan ($589-595) per tonne, up 140-150 yuan per tonneNorthern China (Beijing): 3,780-3,800 yuan per tonne, up 60-70 yuan per tonneBillet prices rose sharply during the weekend due to strong demand, wh...Read More
SHANGHAI, Apr 2 (SMM) – Nonferrous metals futures rose across the board though China's Caixin manufacturing purchasing managers' index (PMI) failed to meet expectations. SHFE tin jumped over 2% and aluminium rebounded close to 2%. Nickel gained 1.6%, lead rose close to 1% while zinc inched up.The ferrous complex remained strong with coke up more than 3%. Rebar gained over 2%, ir...Read More