Lawyers acting for Hernic Ferrochrome have named Samancor Chrome as the preferred bidder for the distressed South African chrome producer, in a deal worth an initial 500 million South African rand ($42.4 million). The company went into business rescue in September 2017 and indicative bids were submitted in December. The purchase price for the asset is an aggregate amount of 500 million rand for th...Read More
The latest metal markets news and price moves to start the North American day on Thursday March 22.Base metals prices on the London Metal Exchange mostly edged higher during morning trading on Thursday March 22, with the dollar experiencing a bout of weakness.The dollar came under pressure on the US Federal Open Market Committee's (FOMC) slightly dovish tone - the committee did not suggest it was...Read More
The physical iron ore market did not see too much activity on Thursday March 22 despite more blast furnaces in north China being allowed to return to production.Key driversSteelmakers in north China's steelmaking hub of Tangshan can now operate according to their off-peak production plans now that the winter heating season is over, subject to them meeting their prescribed emissions standards, acco...Read More
Iron ore prices were relatively stable at $67 per tonne cfr China on Thursday March 22 due to inactive physical trading.Metal Bulletin's 62% Fe Iron Ore Index Today: $67.18 per tonne cfr QingdaoDaily change: down by $0.07 per tonne Month-to-date average: $72.01 per tonneMetal Bulletin's 58% Fe Premium Index Today: $55.48 per tonne cfr QingdaoDaily change: down...Read More
Ample availability of seaborne cargoes of premium hard coking coal has left market participants pessimistic about prices.A cargo of premium low-vol product was heard to have been traded at around $215 per tonne cfr China, sources told Metal Bulletin on Thursday March 22. This compares with a transaction price of around $220 per tonne cfr China for similar materials in the middle of the month. "Car...Read More
China's ferrous futures remained subdued during morning trading on Thursday March 22, with the easing of production restrictions in the country's northern region expected to weigh on physical prices in the coming weeks. Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,622 yuan ($572) per tonne, down 12 yuan per tonne May hot-rolled coil: 3,742 yuan per tonne, down 1...Read More
One China will suspend operations at its Guangxi province gallium plant in April, sources told Metal Bulletin this week. A subsidiary of the Aluminium Corporation of China (Chalco), One China will halt production for about 30 days. "The stoppage [in Guangxi] is for normal facility maintenance [and] will last around one month and remove three to four tonnes of gallium from the physical market," one...Read More
Key data from the Wednesday March 21 pricing session in Shanghai. Indium China domestic market, min 99.99% in warehouse, RMB/kgKey drivers - Indium prices jumped to 2,500 yuan ($395) per kg on the Wuxi Stainless Steel Exchange on March 20 amid increased investment interest for the metal. The higher prices on the bourse boosted sentiment in the physical...Read More
Stainless steel prices in East Asia remained in a downward trend over the past week amid soft demand and a softening of the nickel market. Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed CRC was $2,170-2,250 per tonne cif East Asian ports for the week ended Wednesday March 21, narrowing downward by $10 per tonne from $2,170-2,260 per tonne cif a week earlier. Metal Bu...Read More
Tokyo Steel increased the purchasing price for overland arrivals of H2 grade scrap at its Utsunomiya plant this week.The price for scrap at the Utsunomiya plant increased to ?37,500 ($353) per tonne from Thursday March 22, up by ?500 from previouslyPrices at Tokyo Steel's four other plants in Tahara, Okayama,...Read More
(Kitco News) - Streaming company Wheaton Precious Metals Corp. (TSX, NYSE: WPM) late Wednesday reported that its adjusted profit in the fourth quarter was comparable to the same period a year ago.Adjusted net earnings were listed $82.3 million, or 19 cents per share, compared to $81.9 million, also 19 cents, in the fourth quarter of 2016. Fourth-quarter cash flow was $165 million, compared to $175...Read More
The much-anticipated FOMC meeting concluded today, resulting in an announcement that they will raise the Fed funds rate by 25 basis points (1/4%). This was in complete alignment with existing market sentiment. They also announced that they would stay the course and are projecting a total of two more rate hikes this year, for a total of three rate hikes in 2018.Although the 25-basis point rate hike...Read More
(Kitco News) - The gold market pushed to a two-week high, posting its best gains since last month’s equity market meltdown as the Federal Reserve disappointed U.S. dollar bulls after projecting only three rate hikes this year, according to some analysts.The gold market is trading just down from session highs, benefiting from the fact that the Federal Reserve is in no hurry to raise interest...Read More
Mcx Zinc Target Call – Zinc BUY Call 1d8 given at price 208.50 Achieved 1st 209.90 & 2nd Target 210.50. CMP 210.90. Profit of 2 Point x 2 lot = 4 PointsTIPS ID 1d8 : Free Zinc Tips Today - BUY 2 lot Mcx Zinc March at CMP 208.50 for Target 209.90 - 210.50 with SL below price 207.40AFTER POST CONTENT Read More
(Kitco News) - Gold and silver prices are solidly higher in afternoon U.S. trading Wednesday, on short covering and bargain hunting following recent selling pressure. Prices extended already-good gains after the FOMC statement was issued. Gold prices have come down a bit from their highs, however. April Comex gold futures were last up $15.00 an ounce at $1,327.10. May Comex silver was last up $0.3...Read More
Free Zinc Calls – Zinc Commodity BUY Call 1d8 Given at price 208.50 Achieved 1st Target 209.90 CMP 210.10. Total profit of 1.6 x 2 lot = 3.20 PointsTIPS ID 1d8 : Free Zinc Tips Today - BUY 2 lot Mcx Zinc March at CMP 208.50 for Target 209.90 - 210.50 with SL below price 207.40AFTER POST CONTENT Read More
(Kitco News) - Gold prices are holding on to daily gains as the Federal Reserve maintains its forecast that it will raise interest rates only three times this year, while signaling more rate hikes in 2019 and 2020As widely expected, the U.S. central bank raised interest rates by 25 basis points, pushing the federal funds rate to a range between 1.50% and 1.75%. However, most investors were focus...Read More
Aluminium Tips Live – Aluminium SELL Call 1d2, Given at Price 134.80 Achieved Target level 134. CMP 133.80. Total profit of 0.80 x 2 lot = 1.60 PointsTIPS ID 1d2 : Today Aluminium Intraday - SELL 2 lot Aluminium at CMP 134.80 for Small Target 134.0 with Small SL Above 135.70AFTER POST CONTENT Read More
(Kitco News) - The Goldman Sachs Commodity Index (GSCI) is a basket of several major raw commodity futures prices, including grains, energies, international foods, metals and livestock, rolled into one composite index. The index is a good gauge of the general trend of the raw commodity sector. See on the weekly GSCI chart that prices are still in an uptrend that began in early 2016. In fact, recen...Read More
FREE ZINC TIPS TODAYFree Zinc Tips Today – BUY 2 lot Mcx Zinc March at CMP 208.50 for Target 209.90 – 210.50 with SL below price 207.40AFTER POST CONTENT Read More