Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
Iranian export billet and slab prices continued their downtrend as producers cut prices again to attract customers.Customer interest in Iranian billet was reduced due to the additional risk involved in trading with the country amid sanctions imposed by the United States last August.Consumer buying activity also was reduced because of the traditional slowdown...Read More
Three-month base metals prices on the London Metal Exchange were mixed this morning, Thursday January 3, with zinc, aluminium and lead up by between 0.4% and 0.7%, copper up by 0.1% at $5,880 per tonne, and nickel and tin lower by 0.8% and 0.2% respectively. Volume across the complex has been high with 11,375 lots traded as at 06.58am London time. Wednesday’s trading saw three-month...Read More
Steel billet import prices into Egypt fell this week, while local rebar prices remained unchanged, sources said on Thursday January 3.Fastmarkets MB's weekly price assessment for steel billet imported into Egypt was $435-440 per tonne cfr on Thursday, falling from $440-445...Read More
Turkish rebar and wire rod export markets have remained silent due to weak demand and the holiday periods, while the prices were falling further, sources said on Thursday January 3.Fastmarkets' weekly price assessment for rebar exports out of Turkey was $445-455 per tonne fob on actual weight basis on January 3, down from $450-460 per tonne on December 27 last week.Domestic mills...Read More
Fastmarkets worked to empower its customers in 2018 - a year when they had to navigate metal markets in which fundamentals were often tightening even as greater political restraints were placed on trade than for many years.Here's a quick review of the key developments, which also indicate our direction for 2019:We consulted in detail with the industry to meet its requirements for greater transpare...Read More
U.S. equity index futures were lower this morning. S&P 500 futures are down 26 points in pre-opening trade. Index futures are responding to weakness in Apple after the company lowered its fiscal first quarter revenue guidance to $84 billion from $91.5 billion. JP Morgan and Moness lowered their target price on the stock. Apple dropped $12.64 to $145.28 in pre-opening trade.Index futures were v...Read More
The stainless steel scrap market in the United States did not enter 2019 with an optimistic view for the new year, sources told Fastmarkets AMM."Without an influx of some unexpected good news, it looks like we will be stuck with current conditions for a while," one dealer source said."This market is sloppy at best as nickel continues to slide, molybdenum is beginning to fall, scrap demand at the c...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreBHP, private tender, 240,000 tonnes of...Read More
Shares of Arconic Inc closed up 9.7 percent after Bloomberg reported that Apollo Global Management LLC is in talks to buy the U.S. aluminum products maker for about $22 a share, citing people familiar with the matter.The deal could be reached by mid-January, and the two companies are negotiating one that would protect Apollo from Arconic's possible liability tied to a deadly apartment fire in Lond...Read More
Physical iron ore prices rose on Thursday January 3 following gains in the futures and swaps markets.MB 62% Fe Iron Ore Index: $72.62 per tonne cfr Qingdao, up $0.55 per tonne. MB 62% Fe Pilbara Blend Fines Index: $72.45 per tonne cfr Qingdao, up $0.55 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $74.12 per tonne cfr Qingdao, up $0.12 per tonne. MB 58% Fe Premium Index: $64.14 per tonne cfr Qi...Read More
Seaborne coking coal prices remain under pressure amid muted trading activity and lower offers, market sources said on Thursday January 3.A cargo of premium mid-vol coking coal in the branded segment on online trading platform Global Coal was offered at $209 per tonne fob Australia, sources said during the day. This compares with an offer of $213 per tonne fob Australia in the same segment made ju...Read More
For many new investors, the numbers of investing are a mystery.They may even appear intimidating and mind numbing. The reality, however, is that they are just the opposite! Numbers are the clues for solving the mystery.Every investment has a story. Every time someone approaches you to invest money in his or her particular investment, whatever it may be, they will tell you that story.“This co...Read More
Everyone knows that the best time to get great deals is after the holiday season.Come January, the stores need to offer some incentive to get shoppers interested in pulling credit cards that were exhausted in November and December.Apparently the stock market is thinking the same thing this year because there are plenty of great deals to be had.And I’ve got my eye on one such deal that is goi...Read More
China's hot-rolled coil prices were largely stable on Thursday January 3 on moderate trading activity, sources told Fastmarkets MB.DomesticEastern China (Shanghai): 3,640-3,650 yuan ($530-532) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,550-3,570 yuan per tonne, widening downward by 10 yuan per tonnePrices were little changed during the day, with traders describing trading activit...Read More
Price variations between the cobalt markets in China and internationally reached all-time highs in 2018 when China reacted to rising volumes of cobalt supply from which the overseas metal markets were somewhat protected.At times, wide differentials created appealing theoretical arbitrage opportunities for Chinese exporters, but it was the sentiment and outlook of overseas buyers that ultimate...Read More
Ningxia Tianyuan, the world's largest manganese flake producer, is still not operating at its full 800,000 tonne per year capacity, sources told Fastmarkets MB. The company was expected to resume full production in December, following seven months of lower output. The company is currently operating at a reduced capacity of 1,600 tonnes per day, sources at the company said. Their full daily...Read More
Three-month base metals prices on the London Metal Exchange were mixed this morning, Thursday January 3, with zinc, aluminium and lead up by between 0.4% and 0.7%, copper up by 0.1% at $5,880 per tonne, and nickel and tin lower by 0.8% and 0.2% respectively.Volume across the complex has been high with 11,375 lots traded as at 06.58am London time.Wednesday's trading saw three-month LME base metals...Read More
Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets MB. Unless otherwise stated, all prices are yuan per tonne on an ex-works basis.The cobalt sulfate, Co 20.5% min, China ex-works, adjustment to the low-grade cobalt low-end price at Co 20.5% basis is on a $ per lb basis. Fastmarkets MB prices Click here for Fastmarket MB's price assessment for cob...Read More
China's domestic stainless steel prices held steady over the past week amid growing pessimism about the market in January.Fastmarkets MB's price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,200-14,800 yuan ($2,068-2,156) per tonne including value-added tax for the week ended Wednesday January 2, unchanged from a week earlier.Transactions were sparse ov...Read More
Import prices for stainless steel in East Asia were little changed over the past week, with trading activity yet to pick up following the year-end holiday season.Fastmarkets MB's import price assessment for 304 stainless 2mm trimmed cold-rolled coil in East Asia was $1,890-1,950 per tonne cif for the week ended Wednesday January 2, down $10 per tonne from a week earlier.Fastmarkets MB's import pri...Read More