Base Metal Stocks Articles

COKING COAL DAILY: Ample supply weighs on seaborne market

March 14, 2018 / Sophie Zhao

The seaborne coking coal market continued to be under pressure due to the amply supply of cargoes. Two more cargoes of premium low-vol materials transacted at around $220-221 per tonne cfr China, sources said on Wednesday March 14. Offer price for a premium brand was also heard lowered to around, $215-216 per tonne cfr China, which is around $10-11 per tonne lower than...Read More

Steelmaking Raw Materials Trade Log, March 14, 2018

March 14, 2018 / Staff reporter

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreRio...Read More

China AM: Ferrous futures up amid data showing rise in crude steel output

March 14, 2018 / Sophie Zhao

China's ferrous futures picked up on Wednesday March 14 amid the release of data from the National Bureau of Statistics (NBS) showing an increase in the country's crude steel output in January to February.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,736 yuan ($590.60) per tonne, up 46 yuan per tonne May hot-rolled coil: 3,855 yuan per tonne, up 52 yuan per tonne...Read More

LIVE FUTURES REPORT 14/03: Comex copper price extends recovery on positive Chinese data

March 14, 2018 / Dalton Barker

Comex copper prices hit a multi-week high in Wednesday morning trading in the United States after the publication of positive Chinese data.Copper for May settlement on the Comex division of the New York Mercantile Exchange climbed 4.7 cents or 1.5% to trade recently at $3.1850 per lb Earlier this morning, China's industrial production grew 7.2% year on year in January-February 2018, a full percent...Read More

LIVE FUTURES REPORT 14/03: LME base metals higher; new 13,000-tonne lead cancellation but more zinc NOLA deliveries

March 14, 2018 / Alice Mason

Base metals prices on the London Metal Exchange were higher across the board on Wednesday March 14, following better-than-expected data releases from China.The base metals are building on Monday's rally with nickel hitting above $14,020 per tonne for the first time in March, while copper recovered back above $7,000 per tonne. "The Chinese data released today was a beat and signalled a more robust...Read More

Beijing Jiya to lift suspension on gallium supply

March 14, 2018 / Tanya Ashreena

Beijing Jiya Semiconductor Material Co. Ltd is planning to remove its temporary suspension on spot gallium sales during a board meeting this week, market participants tell Metal Bulletin.Biggest shareholder AXT and board members from the US and Hong Kong will decide at the meeting who to supply to and how much to supply, sources said.But it's anticipated that around 10 tonnes might be released fro...Read More

MINOR METALS MARKET REPORT 14/03: Selenium rallies on tightening stocks; tellurium, gallium, germanium move up

March 14, 2018 / Ewa Manthey

An overview of the minor metals markets and the reasons for any price moves.Read More

CHINA COBALT SNAPSHOT: China cobalt metal price steady; futures prices boost spot quotations

March 14, 2018 / Susan Zou

Key data from the Friday March 14 pricing session in Shanghai.Cobalt Metal MB China domestic min 99.8% RMB/tonne  Key drivers: Metal Bulletin's China cobalt price was 630,000-655,000 yuan per tonne (equivalent to $38.64-40.17 per lb ex-China VAT) on March 14, unchanged from the previous pricing session. Spot quotations for popular domestic brands have jumped by more than 10,000...Read More

MB NON-FERROUS UK SCRAP AND FOUNDRY INGOT PRICE CHANGES

March 14, 2018 / editorial@metalbulletin.com

All MB non-ferrous UK scrap and foundry ingot prices were unchanged on Wednesday March 14.NB: prices...Read More

Tillerson Exit And CPI Data Take Dollar Lower

Mar 13 2018 6:24PM / Kitco Commentary

Although not a fall from grace, the U.S. dollar lost further ground today in response to the departure of the U.S. Secretary of State Rex Tillerson, as well as the CPI data report. Now for the third consecutive day, the U.S. dollar has traded under pressure to close lower on the day, as well as containing a lower low and lower high than the previous session.As of 4:00 PM Eastern standard time, the...Read More

Democrats want next U.S. secretary of state to be tougher on Russia

Mar 13 2018 4:03PM / Reuters

WASHINGTON (Reuters) - Top U.S. Senate Democrats on Tuesday blasted President Donald Trump’s stance on Russia as too soft and indicated that his approach to the country accused of meddling in U.S. elections will come up when they consider his nominee for secretary of state next month.Saying that outgoing Secretary of State Rex Tillerson“was not close to tough enough on Russia,” S...Read More

Fed's FX swap line may not cap dollar LIBOR/OIS spread - Citi

Mar 13 2018 3:30PM / Reuters

NEW YORK (Reuters) - The U.S. Federal Reserve’s currency swap line with overseas central banks may not stem a further widening of the spread on dollar three-month London interbank offered rate and overnight indexed swap rate, a Citi Research analyst said on Tuesday.The premium of three-month LIBOR over three-month OIS, which is seen as a gauge of stress in the money markets, grew to 48.45 ba...Read More

Gold Lifted On Some Safe-Haven Demand, Weaker U.S. Dollar

Mar 13 2018 12:49PM / Kitco News

(Kitco News) - Gold prices were ending the U.S. day session with moderate gains early Tuesday afternoon. The precious metals saw some safe-haven demand due to increasing concerns about turmoil in the Trump administration. A lower U.S. dollar index on this day also worked in favor of the metals bulls. April Comex gold futures were last up $5.70 an ounce at $1,326.50. May Comex silver was last up $0...Read More

Trump Fires Chief Diplomat Tillerson After Clashes, Taps Pompeo

Mar 13 2018 8:58AM / Reuters

WASHINGTON (Reuters) - U.S. President Donald Trump fired Secretary of State Rex Tillerson on Tuesday after a series of public rifts over issues including North Korea and Russia, replacing his chief diplomat with loyalist CIA Director Mike Pompeo.The biggest shakeup of Trump’s Cabinet since he took office more than a year ago, which the president announced on Twitter, comes as the administrat...Read More

Commerzbank: Gold Has Tendency To Slip Prior To Fed Meetings

Mar 13 2018 8:46AM / Kitco News

Commerzbank says gold prices may well weaken ahead of a meeting of the Federal Open Market Committee next week. After all, this has been a pattern for the yellow metal, which then tends to rise afterward. A U.S. rate hike is expected at next week’s FOMC meeting, the first to be chaired by Jerome Powell. “It was not unusual for gold to experience phases of weakness ahead of a Fed meetin...Read More

Bitcoin Daily Chart Alert - Bearish Chart Pattern Developing - Mar 13

Mar 13 2018 7:56AM / Kitco News

Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More

Gold Can't Hold Rally

Mar 13 2018 7:52AM / Kitco Commentary

For the last few days, gold has tried to catch a bid to go higher, but each time it has failed. Since last Wednesday's high, gold has attempted to rally each day only to close lower. There seems to be a lot of waiting on gold, keeping the metal from breaking out to the upside. Every news event that seemed positive for the metals has resulted in a failed rally. Prices seem to be hovering at the bot...Read More

ASIAN MORNING BRIEF 13/03: Base metals prices slump on LME; Int'l Copper Conference participants discuss state of market; Asian aluminium market mixed on Australia's exemption from US tariffs

March 13, 2018 / Dalton Barker

The latest news and price moves to start the Asian day on Tuesday March 13.Base metals prices on the London Metal Exchange were lower across the board at the close on Monday March 12, with overhead selling pressure weakening prices. Read more in our live futures report.Here are how LME prices looked at Monday's close:Copper industry participants from throughout the value chain gathered at Met...Read More

ASIAN MORNING BRIEF 13/03: Base metals prices slump on LME; Int'l Copper Conference participants discuss state of market; Asian aluminium market mixed on Australia's exemption from US tariffs

March 13, 2018 / Dalton Barker

The latest news and price moves to start the Asian day on Tuesday March 13.Base metals prices on the London Metal Exchange were lower across the board at the close on Monday March 12, with overhead selling pressure weakening prices. Read more in our live futures report.Here are how LME prices looked at Monday's close:Copper industry participants from throughout the value chain gathered at Met...Read More

LIVE FUTURES REPORT 13/03: LME lead recovers 2% after Antwerp cancellation; base metals regain losses

March 13, 2018 / Alice Mason

Lead was the strongest performer on the London Metal Exchange on Tuesday March 13 - closing 2.2% higher.8,000 tonnes of lead was freshly cancelled in Antwerp this morning giving fresh support to prices while stocks tighten once again. LME warrants are also tightly held with one entity holding 30-39% of warrant positions."Lead is carrying out some much needed base-building after breaking below $2,4...Read More

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