Chrome steel prices in the UK edged higher in the week ended Friday March 29 on an increase in the quarterly European ferro-chrome benchmark price, Fastmarkets has learnt.The price of steel scrap solids with a chromium content of 12-13% was assessed by Fastmarkets on March 29 at ?190-230 ( ?249-302) per tonne delivered, widening upward by ?10 per tonne. This was the first change in the assessmen...Read More

Artificial intelligence may revolutionize trading.Sometimes watching the market can feel like riding a roller coaster.Many investors feel glued to the news, watching the market rise and fall hundreds of points, day after day, week after week.But savvy traders know these market conditions mean huge profit potential for anyone that knows how to trade them.And one "secret" that more and more traders...Read More

When the London Metal Exchange amended its policies related to its physical delivery network a few years ago, it overlooked one key thing. The issue centers on LME's linked load-in/load-out (LILO) rule, which operates by linking the amount of metal a warehouse loads in to the amount it is obligated to load out for warehouses that have queues of over 50 days.The rule changes were part of package of...Read More

An analysis of BTG's FY 2018 performance reveals that FY 2018 outperformed FY 2017 in terms of production and costs.I expect that BTG would perform even better during FY 2019.I have discussed the reasons for such an expectation.A technical price chart indicates that a reasonable target price in the medium term could lie between $3.00 and $3.50.Therefore, BTG is a bargain at the current price l...Read More

West Africa is well endowed with mineral resources, and many world-class deposits have been discovered there in recent years. The region is a key source of gold, iron ore, bauxite, diamonds, phosphate, uranium, and its mainly untapped mineral wealth provides exceptional greenfield development potential.But despite increased interest in the whole spectrum of commodities in West Africa, the region i...Read More

Ahead of Fastmarkets' Battery Materials 2019 conference in Shanghai, Fastmarkets looks at use of lithium in next-generation vehicles and other battery uses, as well as soaring prices, which have spurred interest in lithium and boosted its importance in recent years as a battery material. In June 2016, the spot price in China peaked at $27 per kg, more than three times the global contract price, ac...Read More

Source: Clive Maund for Streetwise Reports 03/28/2019Clive Maund sees some rough waters with gold and discusses how to play it.Note: This article was published on CliveMaund.com on March 27.I have not been happy about the pattern that has been forming in gold since it plunged rather rudely and sharply around the end of February. The concern that was engendered by that plunge and the accompanyi...Read More

Contrary to traditional opinion, there is no stable, long-term correlation between gold and the VIX index or the S&P 500 index.Gold is in a strong, long-term relationship with the value of the dollar and the level of the U.S. real interest rate.Neither the dollar nor the real interest rate has dropped so much that this could explain the current price of gold. Investment Thesis The analysis of...Read More

In contrast to the clear skies outside, a cloud hung over discussions among Indian scrap traders attending the opening session of the annual conference of the Material Recycling Association of India (MRAI) earlier this month in Kochi, southern India.Secretary-general Amar Singh praised the superior air quality in the host city, compared with the metropolises of New Delhi and Mumbai. But delegates...Read More

The London Metal Exchange has announced new warehouse reform proposals - the friendliest to warehousers in seven years - that aim to make LME warehousing attractive again and encourage more metal onto the exchange.In a discussion paper sent to members on Friday March 29, the exchange proposed relaxing queue-based rent capping (QBRC) to 80 days, lower rent and Free On Truck (FOT) fees, as well as m...Read More

More than three years after two treasure hunters claimed to have found a Nazi train laden with gold and gems in the Polish city of Walbrzych, one of the men looking for it has unearthed another kind of treasure: two dozen priceless Renaissance portraits.Piotr Koper, who spent years hunting for the elusive train rumoured to be laden with gold and gems, has found two dozen priceless Renaissance p...Read More

EURUSD The euro for a week remains under pressure on global markets, due to weak economic indicators. As a result, the pair declined from the EURUSD high near 1.1450 to 1.1220 - the lows area since June 2017. An attempt to break the downtrend failed with the help of Draghi. ECB President Mario Draghi warned of a possible extension of the extremely low rates period. Additionally, the EUR decline on...Read More

Prior to the FOMC meeting last week, I forecast that the Fed would be dovish on both interest rates and the balance sheet reduction program.But this would mean that all of the dovish "speak" since their verbal 180 in January that contributed to the rally in stocks is now priced in.I believe that is now the case and there is little more the Fed can say that will push stocks higher.By Davi...Read More

Base metals price on the London Metal Exchange were mostly higher at the close of trading on Friday March 29, with copper and zinc outperforming.Despite continued strength in the US dollar, risk appetite has improved.The three-month copper price closed almost 2% higher while volumes exceeded 20,000 lots. The metal's on-warrant stock count has recovered slightly over March after reaching its l...Read More

The London Metal Exchange has proposed an enhancement of its warehouse stock reporting model in a bid to garner further transparency against a recent tide of inordinate stock moves, it said in its latest warehousing discussion paper released on Friday March 29. In accordance with the LME's warehousing committee, the bourse has unveiled nine warehouse proposals to counter the expansion of ware...Read More

Published 19 Hours AgoUpdated6 Hours AgoReuters Getty ImagesGold gained on Friday en route to its second quarterly rise as the dollar eased on tepid U.S. economic data, while palladium snapped three straight sessions of sharp losses, ending the quarter on a positive note.Spot goldwas up 0.20 percent at $1,292.67 per ounce as of 3:00 p.m. EST. Prices struggled to break past resistance around $1,30...Read More

Zinc stocks held in Shanghai Futures Exchange-approved warehouses dropped by 5.3% week on week as of Friday March 29 on improving consumer demand. Deliverable zinc stocks at SHFE-approved warehouses have fallen by 6,170 tonnes since March 22 to 109,804 tonnes as of this Friday. This week's fall follows a sharp drop of 8,064 tonne on March 22, before which stocks had been climbing continuously sinc...Read More

Chilean state miner Codelco produced slightly less copper in 2018 than the year before, the company reported on Friday, as it continued to contend with declining ore grades and rising costs at its aging mines.Chief Executive Nelson Pizarro said the company produced 1.678 million tonnes of copper at its own mines in 2018, down 3.3 percent from the previous year, and a total of 1.806 million tonnes,...Read More

Stainless steel transaction prices in Europe increased in the week ended Friday March 29 while mills continued to incrementally apply higher alloy surcharges to their sales prices.This week, many mills announced alloy surcharges for a range of stainless steel products for April, at levels increased from those in March. This was the second consecutive such increase.The increases were largely a reac...Read More

Base metals price on the London Metal Exchange were mostly higher at the close of trading on Friday March 29, with copper and zinc outperforming.Despite continued strength in the US dollar, risk appetite has improved.The three-month copper price closed almost 2% higher while volumes exceeded 20,000 lots. The metal's on-warrant stock count has recovered slightly over March after reaching its l...Read More