Metal News Global SCRAP REGISTER en-us 2017-08-22T16:41:02+01:00 Discounts on Gold increase with the cheap imports>uploads/news/2017/8/1091597801503399105 On the back of cheap Gold imports from South Korea, the discount on Gold have increased by about 20 per troy ounce from $13 and with this the banks and the nominated agencies have reduced the imports. Global refined Lead demand exceeds supply by 86kt during H1>uploads/news/2017/8/18587709491503395506 Global refined lead metal demand exceeded supply by 86 kilo tons during the first half of this year, according to the latest figures released by the International Lead and Zinc Study Group (ILZSG). Over the same period total reported stock levels decreased by 18 kilo tons. Banks to pay 3% integrated GST on Gold imports: CBEC>uploads/news/2017/8/11455758391503394757 Import of Gold attracts a 10% basic customs duty. On top of that a 12.5% countervailing duty (CVD) was levied prior to GST. Uncertainly ahead of Jackson Hole positive for Gold>uploads/news/2017/8/6647027401503367042 Pricing continues to remain constructive for a further test of USD $1,300, while any corrective moves through USD $1,280 - $1,285 has the potential to extend toward USD $1,265. One of the main drivers this week is the Jackson Hole conference. US Scrap Gold prices gain; Gold Futures fail to stay above $1,300 an ounce>uploads/news/2017/8/20607211901503321448 United States scrap gold prices gained on the Scrap Register Price Index as on Friday, while gold futures prices at New York Mercantile Exchange touched their highest intraday level of the year, temporarily topping $1,300 an ounce before pulling back to settle lower for the session and the week. India Brass, Copper Scrap prices remain steady; Copper Futures down>uploads/news/2017/8/15190408221503319954 India’s major brass and copper scrap prices remained steady on the Scrap Register Price Index as on Friday, while copper futures prices at India's Multi Commodity Exchange settled down mainly due to a wave of speculative buying underpinned by expectations of strong demand in China. Global Tin market records a deficit of 7.6 kt during Jan to June>uploads/news/2017/8/9275322521503307059 Global tin market has recorded a deficit of 7.6 kilo tons during January to June this year and there were no DLA deliveries during the period, according to the World Bureau of Metal Statistics. Spain terror attacks fuel Gold demand; ETF Holdings rise again>uploads/news/2017/8/1547784531503295462 Gold remains on firmer footing, with exchange-traded-fund holdings continuing to rise and the metal helped by geopolitical events, said Commerzbank in a reserch note. DGCX to launch region’s first Sharia compliant Spot Gold Contract>uploads/news/2017/8/676447491503293242 This development is reflective of the growing potential of the Saudi Arabian and wider GCC regions Sharia compliant gold markets. According to the World Gold Council, Saudi Arabia’s gold demand stood between 60 and 85 tons. This is the highest in the Middle East and ranked sixth in the world; representing almost 30% of demand across the region. Gold’s gains not completely undone>uploads/news/2017/8/12384092301503034187 Although gold has lost some ground, falling from a recent two-month high as geopolitical tensions between the U.S. and Korea have eased, one analyst still sees some underlying strength in the marketplace.