Ten things we learned from the 21st International Lead & Zinc Conference last week in Baoji, Shaanxi province, in China.A major zinc producer has considered increasing the 2019 refined zinc premium for Chinese customers by up to $20 per tonne, citing an expected tightness in Southeast Asian zinc supply for the first half of next year. Talks are still at an early stage while customers are yet to re...Read More
(Kitco News) -Investors appear to be the clear winners in the ongoing fee war among gold-backed exchange traded funds.This past month has been a milestone for two low-cost gold-back ETFs. Last month, after celebrating its one-year anniversary, GraniteShares said its ETF (NYSE: BAR) has seen its assets under management surpass $350 million.The ETF offers the lowest cost investment product in the go...Read More
(Kitco News) - Gold and silver prices are moderately lower in early-afternoon U.S. trading Tuesday. A modest rebound in the U.S. dollar index today, as well as a rally in the U.S. stock market, put some downside pressure on the precious metals markets. Trading was choppy and two-sided as the world marketplace awaits the outcome of the U.S. mid-term elections. December gold futures were last down...Read More
London Metal Exchange base metal prices were little changed in morning trading on Tuesday November 6, with the market pausing for direction after taking heavy losses on Monday. Three-month copper price is down $13 against yesterday's 5pm closing price at $6,118 per tonne, while aluminium futures are up by just $4 at $1,979 per tonne and zinc is down by $4 to $2,558 per tonne. Industrial metal mark...Read More
Expect more ebb and flow in risk sentiment The run up in prices at the end of last week was triggered by hopes that a US-China trade deal may be arranged before too long. We have seen this before as hopes are briefly raised. But, once again, the improvement in sentiment was short-lived. However, it is a reminder of how metal prices are being held down by risk-off sentiment in large part due to ong...Read More
(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