Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesThe company said the expansion, to start in early 2019, would add an average 60,000 tonnes per annum to its production over the first 15 years of operation.First output is expected in the second half of 2021.Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesCopper production will rise from an extra 40,000tpa in the first year...Read More
(Kitco News) - The digital currency market is attracting new attention of the wrong kind as market analysts warn that they see further declines in the near-term as the new downtrend picks up momentum.Bitcoin, the leader in the cryptocurrency sector, has fallen further below the $6,000 level as it trades near its lowest level in 13 months. According to Kitco.com aggregated charts, bitcoin last trad...Read More
(Kitco News) - Gold and silver prices are modestly higher in early-afternoon U.S. trading Thursday. Some worries about the health of the U.S. stock market, following the recent sell-offs and increased volatility, are supporting the safe-haven metals. The precious metals bulls are impressed their markets are able to post modest gains today in the face of a stronger U.S. dollar index. December gold...Read More
(Reuters) - The U.S. Federal Reserve should hold off on raising interest rates to allow more workers to get jobs, adding that the central bank can always raise rates to head off inflation if it starts to rise too fast, Minneapolis Fed President Neel Kashkari said on Thursday.Speaking at the Minnesota Ag and Food Summit, Kashkari said he sees no signs of overheating yet, or of inflation taking off....Read More
Exchange-traded fund investors have returned to the gold market, says Standard Chartered. Most precious-metals ETFs trade like a stock but track the price of the commodity, with metal put into storage to back the shares. Both central banks and ETF investors tend to be “resilient holders” of gold, Standard says. ETF buying of 23 tonnes in October and 13 so far in November, as a Wednesda...Read More
Three-month base metals prices on the London Metal Exchange were up acrossthe board by an average of 0.7% on the morning of Thursday November 15. Zinc and nickel prices were up by the most with gains of 1.2% and 1.1% respectively, while copper wasup by 0.8% at $6,149 per tonne. The others were up by between 0.2% for aluminium and 0.8% for lead.Volume has been below average with 4,583 lots tra...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
WASHINGTON (Reuters) - U.S. Trade Representative Robert Lighthizer has told some industry executives that another round of tariffs on Chinese imports has been put on hold as the two nations pursue talks, the Financial Times reported on Thursday, citing an unnamed person familiar with the situation.U.S. President Donald Trump has already imposed tariffs on $250 billion of Chinese imports into the U...Read More
The number of new passenger car registrations in the EU dropped by 7.34% year-on-year in October 2018, the European Automotive Manufacturers Assn (ACEA) said on Thursday November 15.New car sales in Europe totaled 1,083,635 units in October, compared with 1,169,462 vehicles sold in the corresponding month of 2017.The decrease in October was "at a more moderate pace than in September," ACEA said. D...Read More
Swiss multinational investment bank, UBS Group, has applied for Category II membership on the London Metal Exchange, according to a note released by the exchange on Thursday November 15. The LME currently has 32 Category II members and the Swiss bank's London subsidiary, UBS Ltd, is already a member. Last month, Chinese broker Nanhua Futures similarly took steps...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 4 points in pre-opening trade. U.S. equity index futures moved lower following release of economic news at 8:30 AM EST. Consensus for Weekly Jobless Claims was 215,000 versus 214,000 last week. Actual was 216,000. Consensus for October Retail Sales was a gain of 0.4% versus an increase of 0.1% in September. Actual was...Read More
Zinc futures on the London Metal Exchange rallied 3% at the close on Thursday November 15, ending a weeklong downtrend and supported by a decade-low downdraft in total LME inventories.Across the entire base metals asset class, volumes traded on the exchange were moderately high, with the trading of zinc's 15,062 lots the most since Thursday August 16 and second on the day to copper's 16,465 lots."...Read More
Swiss multinational investment bank, UBS Group, has applied for Category II membership on the London Metal Exchange, according to a note released by the exchange on Thursday November 15. The LME currently has 32 Category II members and the Swiss bank's London subsidiary, UBS Ltd, is already a member. Last month, Chinese broker Nanhua Futures similarly took steps...Read More
[updating with detail and comment throughout]Jiangxi Copper and Antofagasta agreed terms on 2019 copper concentrates treatment and refining charges (TC/RCs) at $80.80 per tonne/8.08 cents per lb on Thursday November 15, sources from both companies told Fastmarkets.The deal is in line with market expectations and is 1.8% lower than the benchmark of $82.25/8.225 cents agreed in 2018 between Freeport...Read More
Liquidity in the Pacific alumina market picked up on Thursday November 15 with prices on a fob Australia basis hitting a fresh eight-month low. Fastmarkets MB's benchmark daily fob Australia index stands at $410.98 per tonne on Thursday, down from $423.33 per tonne the day before. The index is now at levels not seen since March 2018 before Hydro declared force majeure at the Alunorte refinery...Read More
The latest news and price moves to start the Asian day on Friday November 16.Zinc futures on the London Metal Exchange rallied by 3% at the close on Thursday November 15, ending a weeklong downward trend and supported by a decade-low in total LME inventories. Read more in our live futures report.Here are how prices looked at the close of trading:Jiangxi Copper and Antofagasta have agreed...Read More
The latest metal markets news and price moves to start the North American day on Thursday November 15.Base metals prices on the London Metal Exchange rallied against a high dollar index during morning trading, recovering losses made at Wednesday's close and topped by strong gains in zinc and nickel futures.Climbing by 3%, the three-month zinc price reached an intraday high of $2,595 per tonne over...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Thursday November 15.Base metals prices on the Shanghai Futures Exchange were up across the board during Asian morning trading on Thursday, reversing the previous day's losses on a weaker dollar and easing trade tensions.Check Fastmarkets MB's live futures report here. Nickel premiums in China...Read More
The tax law is a series of stimulus packages for business owners and investors. Nowhere is this truer than for real estate investors. I'm not talking about people who fix and flip real estate. They are not investors. I'm talking about those who buy, improve, and hold on to real estate for long-term investment.As an incentive for investors to buy, improve, and hold real estate, the government gives...Read More
Last month I warned you that we were entering this winter facing a very real chance of a spike in natural gas prices.Here we are just a couple of weeks later and that natural gas price spike has already taken a pretty major first leg up.Since the start of November, the commodity has already skyrocketed 25 percent higher than when I wrote to you.That is a big move in such a short period of time, ev...Read More