Junior Gold Equity ETF (GDXJ) moved below $51.27 extending an intermediate downtrend. Pre-opening Comments for Thursday November 19thU.S. equity index futures were lower this morning. S&P 500 futures were down 9 points in pre-opening trade.Index futures moves slightly lower following release of the November Philly Fed Index and Weekly Jobless Claims report at 8:30 AM EST. Consensus for the Phi...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 17 that are worth another look.Flat steel import prices in the United Arab Emirates (UAE) have increased over the past week because of a shortage of hot-rolled coil and globally strong demand, sources said on November 17.Alvance, the...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 17. Please click...Read More
Aluminium's three-month price on the London Metal Exchange was among the best performers at the end of trading on Tuesday November 17, with prices stabilizing after a bullish trading session on Monday. The three-month price for the light metal rose by 1.36% from Monday's closing price, to reach $1,977.50 per tonne on Tuesday. A price above $1,970 per tonne for aluminium has not been...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 17. Please click...Read More
An overview of the chrome ore and alloy markets and their latest price moves. China UG2 buyers attempted to push down prices amid additional volumes of off-spec material being available on the market. Some buyers made lower bids, citing rising port inventory and their bearish outlook for the alloy sector, while some decided to buy...Read More
Fastmarkets proposes to amend the specifications of its manganese ore 44% Mn index.For its manganese ore 44% Mn, cif Tianjin, $/dmtu index, Fastmarkets proposes to change the silica content to a base of 10% and a max 15%, from a base of 11% and max of 12%, in its specifications in response to product changes in the market.The current specifications are:MB-MNO-0001 Manganese ore 44% Mn, cif Tianjin...Read More
Turkish steel mills did not book any additional cargoes on the second day of the week following a recent rise in prices, sources told Fastmarkets on Tuesday November 17.The mills steered clear of deep sea scrap cargo purchases again on Tuesday, with some backing away from the market on concerns that prices had become too high after the recent jump."Some people are cautious because prices have...Read More
Alvance, the aluminium division of GFG Alliance, is proposing to invest in a new recycling and casting facility that will almost double output at its Fort William, Scotland, plant and continue its growth as a low-carbon production hub. The proposed ?94 million ($124.1 million) investment replaces a previously-approved alloy wheels factory due to a significant decline in the UK automotive sector....Read More
Markets were generally buoyant this morning, Tuesday November 17, following news that a second coronavirus vaccine is showing good results, which is underpinning many equity indices at or near record highs, although the base metals on the London Metal Exchange were consolidating. Asian Pacific equities were mainly higher, following gains on major western equity indices on Monday......but major wes...Read More
South Korean imports of lithium carbonate compounds more than doubled in September 2020, with increased demand from restocking by cathode and battery manufacturers ahead of an expected surge in prices, sources have told Fastmarkets.According to data released by the South Korean customs office, imports of lithium carbonate salts into the country totaled just over 4,039 tonnes in September, up by mo...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 17 that are worth another look.Flat steel import prices in the United Arab Emirates (UAE) have increased over the past week because of a shortage of hot-rolled coil and globally strong demand, sources said on November 17.Alvance, the...Read More
Hot-rolled coil prices in the United States held steady while more service centers tried and failed to enter the spot market for January 2021 shipments, with some buyers now unable to supply customers with enough tonnage to fulfill downstream needs. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $36.31 per hundredweight ($726.20 per short ton) on Tuesday November 17,...Read More
Flat steel import prices in the United Arab Emirates (UAE) have increased over the past week because of a shortage of hot-rolled coil and globally strong demand, sources said on Tuesday November 17.Local demand for flat steel was strong in India and China, the main exporters of flat steel to the UAE and Saudi Arabia, so offers were limited.UAEOffer prices for HRC from Indian suppliers were heard a...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 17 that are worth another look.Flat steel import prices in the United Arab Emirates (UAE) have increased over the past week because of a shortage of hot-rolled coil and globally strong demand, sources said on November 17.Alvance, the...Read More
Italian plantmaker Danieli will supply a new wire rod line and slab caster automation and control system to Turkish long steel and flat steel producer Habas, Danieli said on Monday November 16.The new wire rod mill will be installed in the Aliaga steelmaking plant with capacity to produce steel grades including low- and medium-carbon steel, welding wire, high-carbon and PC wire, and reinforcement...Read More
Steel billet and rebar prices in the United Arab Emirates increased this week, despite only moderate demand, sources said on Tuesday November 17.Domestic rebarThe country's biggest steel producer Emirates Steel was offering rebar at 1,984 dirhams ($540) per tonne ex-works for orders to be produced in December, up from the previous price of 1,936 dirhams ($527) per tonne ex-works for orders to be p...Read More
Turkish steel mills did not book any additional cargoes on the second day of the week following a recent rise in prices, sources told Fastmarkets on Tuesday November 17.The mills steered clear of deep sea scrap cargo purchases again on Tuesday, with some backing away from the market on concerns that prices had become too high after the recent jump."Some people are cautious because prices have...Read More
Iron ore prices increased further in both the futures and seaborne markets on Tuesday November 17, supported by hot-rolled coil and rebar futures prices that hit new annual highs, although physical prices at ports remained stable. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $125.44 per tonne, up $1.37 per tonne 62% Fe low-alumina fines, cfr Qingdao: $125.99 per tonne, up $1.64 per tonn...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 17 that are worth another look.Flat steel import prices in the United Arab Emirates (UAE) have increased over the past week because of a shortage of hot-rolled coil and globally strong demand, sources said on November 17.Alvance, the...Read More