For a number of years problems at Ilva, the largest steelworks in Europe, have been casting shadow over the performance of the whole Italian steel industry. Will an acquisition of Ilva by a consortium led by ArcelorMittal, now in its final stage, be a game changer for the market?Following multiple reports of environmental and health problems caused by the Taranto plant, in 2013 Ilva was placed und...Read More
(Kitco News) - London’s $6.8 trillion-a-year gold market is ready for change, according to a Reuters report, which states that the city’s clearing house — the London Precious Metals Clearing Limited (LPMCL) — is making it easier for others to join.The LPMCL operates the London’s electronic clearing system, which is responsible for clearing and settling all bullion tra...Read More
One of the more famous catchphrases from the 1960s sitcom 'Get Smart' was "Missed it by that much." Holding up a thumb and forefinger to demonstrate an extremely small space, Maxwell Smart (Agent 86) would use this phrase to describe his failure. Missed It by THAT MuchThat same catchphrase could be used for the estimates economists gave this week for the Labor Department's Jobs report. The median...Read More
Editor's Note: Gold and silver have been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitc...Read More
Editor's Note: Gold and silver have been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy. (Kit...Read More
Editor's Note: Gold and silver have been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy. (K...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
Earlier this week, I attended the annual Prospectors & Developers Association of Canada (PDAC) conference in Toronto. It is the premier destination for mining companies to mingle with suppliers, customers, potential investors, consultants, and analysts. Not only is this a must-attend event for professional mining investors such as myself, PDAC can also be a very good gauge of sentiment in the...Read More
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
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.Market...Read More
The latest news and price moves to start the Asian day on Friday March 9.The London Metal Exchange's three-month aluminium contract recovered above $2,100 per tonne at the 5pm close on Thursday March 8, with all eyes on the United States' tariff announcement. Read more in our live futures report.Here are how LME prices looked at Thursday's close:The US announcement of a 10% tariff on alu...Read More
The latest news and price moves to start the Asian day on Friday March 9.The London Metal Exchange's three-month aluminium contract recovered above $2,100 per tonne at the 5pm close on Thursday March 8, with all eyes on the United States' tariff announcement. Read more in our live futures report.Here are how LME prices looked at Thursday's close:The US announcement of a 10% tariff on alu...Read More
The latest news and price moves to start the Asian day on Friday March 9.The London Metal Exchange's three-month aluminium contract recovered above $2,100 per tonne at the 5pm close on Thursday March 8, with all eyes on the United States' tariff announcement. Read more in our live futures report.Here are how LME prices looked at Thursday's close:The US announcement of a 10% tariff on alu...Read More
Nickel was the best performer on the London Metal Exchange at the close on Friday March 9, gaining more than 4%, with most of the complex ending the week on a high.The three-month nickel price recovered by $570 per tonne after a large 27,244-tonne cancellation at LME-listed warehouses this morning."Nickel is still enjoying overall bullishness that has been in place since it recovered from its June...Read More
Comex copper prices rebounded in morning trading on Friday March 8 in the United States after the publication of a jobs report that exceeded expectations.Copper for May settlement on the Comex division of the New York Mercantile Exchange recovered 3.4 cents or 1.1% to trade recently at $3.1130 per lb. Yesterday, the contract slid to the lowest point since February 12.This morning, the US non-farm...Read More
Unionized workers at Antofagasta's Los Pelambres mine in Chile have voted to strike, rejecting the latest offer for a collective labor agreement from the miner."Around 99% of the voting workers voted in favor of a legal strike," Federacion Minera de Chile treasurer Dino Saltori said in a statement on the organization's website.Antofagasta had offered improvements for miner benefits and a "salary r...Read More
Key data from Metal Bulletin's Wednesday March 7 pricing session in China.Molybdenum concentrate Metal Bulletin Chinese free market, 45% Mo, in-warehouse China, RMB per mtu Key drivers- Supply is tight on earlier plant turnarounds conducted by major miners.- Recent surge in Chinese exports for January 2018 further underpins supply tightness.-...Read More
Key data from Metal Bulletin's Wednesday March 7 pricing session in China.Molybdenum concentrate Metal Bulletin Chinese free market, 45% Mo, in-warehouse China, RMB per mtu Key drivers- Supply is tight on earlier plant turnarounds conducted by major miners.- Recent surge in Chinese exports for January 2018 further underpins supply tightness.-...Read More
Domestic stainless steel prices in China have fallen further over the past week following losses in the nickel market. Metal Bulletin's assessment of prices for benchmark 304 stainless CRC in the major market of Wuxi was 14,600-15,300 yuan ($2,304-2,415) per tonne including VAT for the week ended Thursday March 8, against 14,700-15,300 yuan per tonne from a week earlier. Nickel prices on the Londo...Read More
Prices for ferrous scrap in the major global markets kept rising over the past seven days despite questions over how the new US import tariffs on steel could affect the scrap markets.Good scrap demand has led to higher prices in the import markets of Turkey, India and Taiwan, while US export prices have stayed stable.Turkey importsTurkish steel mills continued to book scrap at higher prices this w...Read More