Metal News Global SCRAP REGISTER en-us 2017-01-17T03:24:27+01:00 US Silver Scrap prices slightly down; Silver Futures up 1.5% for the week>uploads/news/2017/1/19161571331484588775 United States silver scrap prices slightly down on Friday, while silver futures prices at New York Mercantile Exchange settled down manly on strong dollar. US Scrap Gold prices gain 2.25 percent; Gold Futures advance 1.9% for the week>uploads/news/2017/1/14277958101484584242 United States scrap gold prices gained on Friday, while gold futures prices at New York Mercantile Exchange settled down, easing back after a four-session streak of gains lifted prices for the yellow metal to their highest level in seven weeks. Credit Suisse remains positive on Gold Equities this year>uploads/news/2017/1/21465607631484586031 Factors cited by analysts include the fact gold near $1,200 an ounce is still below Credit Suisse’s 2017 average price forecast of $1,338, with January returns averaging plus 5% over the last five years, and improved fundamentals for producers, with net debt down 23% year-on-year. Chinese Bitcoin concerns may boost Gold>uploads/news/2017/1/20182126751484585377 China’s increased scrutiny of bitcoin trading in the country may bode well for gold, said Phil Flynn, senior market analyst with Price Futures Group. Flynn looks for more gold gains next week, pointing out that the market has put in a rounded bottom lately on a daily price chart. India Nickel Scrap prices drop; Nickel Futures gain 1.17 percent>uploads/news/2017/1/7844431291484571160 India's major nickel scrap prices dropped on the Scrap Register Price Index as on Friday, while nickel futures prices at India's Multi Commodity Exchange gained 1.17 percent as major producer Indonesia eased a ban on ore exports, potentially offsetting lower supply from Philippines. India Brass, Copper Scrap prices advance in line with Copper Futures>uploads/news/2017/1/17260018291484567532 Major brass and copper scrap prices in India advanced on Friday, while copper futures prices at India's Multi Commodity Exchange settled up boosted by imports news from China. Palladium advances so far this year despite ETF outflows>uploads/news/2017/1/4762141471484539466 Since the start of the year, total palladium ETF holdings have declined 103,000 ounces. At a good 1.6 million ounces, they are currently at their lowest level in nearly seven years and have fallen by nearly half from their record high in August 2014, Commerzbank noted. Central Bank likely to continue to buy Gold in 2017 but at a slower pace>uploads/news/2017/1/17901412671484302410 Quoting the latest data from the World Gold Council, Simona Gambarini, commodities economist at Capital Economics, noted that official gold purchases slowed significantly last year, totaling 53 tons as of November, down from 839 tons in 2015. S&P 2017 Sovereign credit rating outlook friendly for Gold>uploads/news/2017/1/14973760781484282395 Analysts cited news that S&P downgraded almost three times as many countries’ sovereign credit ratings as it upgraded in 2016. The S&P also stated that it expects this trend to accelerate this year. This is gold-bullish. Gold is a barometer of confidence in government and the state of government finances and the financial markets in general. India Nickel Scrap prices up; Nickel Futures decline sharply by 4.5 percent>uploads/news/2017/1/19039729421484223104 India's major nickel scrap prices advanced on the Scrap Register Price Index as on Wednesday, while nickel futures prices at India's Multi Commodity Exchange declined sharply by 4.5 percent.