(Kitco News) - Gold is due for a comeback even if the global equities space rallies following a recent correction, according to Wells Fargo, which projects to see the precious metal rise another 7% from current levels.“We suspect that gold could very well continue to rally as we exit 2018 and enter 2019, even if stocks do too. Our rolling 12-month gold target is $1,300—roughly 7% highe...Read More
Copper stocks in bonded warehouses in Shanghai fell slightly in October as a number of major importers looked to use up their annual quotas, and zinc and nickel inventories also decreased due to increased import activity after the arbitrage window opened, while aluminum stocks were flat.Copper stocks in October fall amid buying activity by major importers Shanghai-bonded copper stocks decline...Read More
LME prices down to their lowest...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon a...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday November 06*Copper -$160.98 (-1,115.94 yuan) Aluminium -$432.89 (-3,000.94 yuan) Zinc -$29.84 (-206.83 yuan) Nickel $460.77 (3,194.22 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Aluminium LME aluminium prices continue to consolidate ahead...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus d...Read More
(Kitco News) - The gold market could struggle through the rest of the year as there is a lack of fundamental reasons to push prices higher, according to one Australian Bank.It is difficult to be overly bullish on gold as there is no new catalyst that could dramatically drive prices higher, Macquarie precious metals analyst Matthew Turner told Kitco News on the sidelines of the London Bullion Marke...Read More
Brazilian flat and long steelmaker Companhia Sider??rgica Nacional (CSN) has been negotiating with slab producers to build up its inventories in advance of a stoppage at one of its own blast furnaces, market participants have told Fastmarkets.Maintenance work on the blast furnace has been expected for a few years and is now planned for June 2019, a source close to CSN said. The stoppage has been d...Read More
In this week’s analysis, we identify...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue...Read More
Image courtesy of Rob Crandall/Shutterstock.com (Kitco News) - American voters are heading to the polls today to cast their ballot in the much-anticipated midterm elections.Political pundits expect to see a split Congress with the Democratic Party taking control of the House and the Republican Party maintaining control of the Senate. While equity market and U.S. dollar investors appear to be...Read More
36,275 tonnes of cancelled warrants...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as so...Read More
Last week, we published our quarterly consensus price...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the...Read More
In this week’s analysis, we review...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue a...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia were mostly stable over the past week, with demand remaining limited, sources told Fastmarkets on Tuesday November 6.UAE Hot-rolled coil from Russia was on offer to the UAE at $560-565 per tonne cfr, with one buyer bidding $550 per tonne cfr. Chinese HRC was on offer at $580 per tonne cfr.But buyers were not willing to book mate...Read More
Our focus this week is on...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it&#...Read More
(Kitco News) - Gold holdings in global exchange-traded funds and similar products rose in October by 16.5 tonnes for the first monthly inflow in four months, the World Gold Council reported Tuesday.Holdings now stand at 2,345.6 tonnes. Still, they are down 25.8 tonnes for the year to date.“Global stock markets experienced their worst October since the 2008 financial crisis, with the MSCI All...Read More
ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.SubscribeRead More
Nov 6 (Reuters) - Canada's main stock index rose on Tuesday, driven by gains in shares of healthcare and material companies.* Better results announced by drugmaker Bausch Health lifted healthcare stocks, while materials companies rose on the back of higher metal and gold prices.* At 9:36 a.m. ET (1436 GMT), the Toronto Stock Exchange's S&P/TSX Composite index was up 60.65 points, or 0.4 percen...Read More
The price of rebar imported into the United Arab Emirates fell in the week to Tuesday November 6, on continuing limited demand.The billet import market was also slow because mills in the UAE have enough billet in stock to last for more than two months, sources told Fastmarkets.Domestic rebarLocal producers were still offering rebar at 2,016 dirhams ($549) per tonne ex-works this week.And Fastmarke...Read More
Click here to download the Selected Demand IndicatorsACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the lat...Read More
Fastmarkets proposes to change the publication time of the CIS export steel billet index, fob Black Sea ports, from 2pm to 4pm London time each day.The proposed change will allow the capture of a larger number of transactions during the day and therefore will help to increase the liquidity of the index.The deadline for data submissions to the CIS Billet Index will be changed from 1.30pm to 3p...Read More