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
While decreasing raw material costs have driven special bar quality (SBQ) prices down by $1.50 per hundredweight ($30 per short ton) across all grades, most sources offered an optimistic forecast for the year ahead.Fastmarkets AMM's assessment for 1-inch round 1000 series (carbon) hot-rolled bar was $43.50 per cwt ($870 per ton) fob mill on Friday January 11, down 3.3% from $45 per cwt previously...Read More
China's hot-rolled coil prices picked up on Monday January 14 following increases in the futures market, while exporters kept their offers high amid a strengthening of the yuan.DomesticEastern China (Shanghai): 3,630-3,650 yuan ($537-540) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tianjin): 3,630-3,650 yuan per tonne, up 10-20 yuan per tonnePrices rose nationwide during the da...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedRio's wholly owned Kennecott Exploration Company (KEX) will join Valor at its Berenguela copper-silver-manganese project in south-east Peru.Read More
China's rebar prices moved higher on Monday January 14 in both the domestic and the export market amid rising futures and optimism among producers. Domestic Eastern China (Shanghai): 3,720-3,760 yuan ($550-556) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,650-3,690 yuan per tonne, up 10 yuan per tonneRebar futures rose sharply at the open of today's trading session, pushing...Read More
Import prices for rebar in Singapore fell over the past week on soft end-user demand despite the return of key market participants. The appreciation of the Chinese yuan to 6.79 yuan to a US dollar last Friday January 11 - from 6.88 yuan per dollar at the start of the year - did not lend any support to the market.Fastmarkets MB's import price assessment for rebar in Southeast Asia - which mainly lo...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
Import prices for re-rolling-grade hot-rolled coil into Vietnam were higher on the back of more bullish sentiment caused by a stronger Chinese yuan.Fastmarkets MB's weekly import price assessment for HRC in Southeast Asia - which mainly looks at Chinese 2-3mm SAE1006 HRC and equivalent grades sold into Vietnam - was $478-480 per tonne cfr for the week ending Monday January 14, narrowing upwards fr...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker this morning, Monday January 14, following the release of weak Chinese trade data.Three-month tin was the only LME base metal in positive territory with a 0.4% gain, while aluminium was little changed and the rest were down between 0.7% for nickel and 1% for zinc – with copper off by 0.8% at $5,911 per t...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 22 points in pre-opening trade. Index futures are responding to a lower than expected trade surplus reported by China.Brrrrrr, it's cold outside. Biggest snow storm during the past two years has hit the U.S. Mid-west and Eastern U.S. Natural gas jumped $0.27 to$3.37 per MBtu.Goldcorp added $1.01 to $10.70 U.S. and New...Read More
Domestic scrap prices in Turkey remained largely stable on the back of moderate demand over the past week, sources said on Monday January 14.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) ferrous scrap was TRY1,450-1,590 ($266-292) per tonne delivered on January 14, widening from TRY1,480-1,550 per tonne last week.Long and flat steel producer...Read More
Anglo American sold a Minas Rio cargo based on the Fastmarkets MB 66% Fe iron ore concentrate index, market sources said on Monday January 14, following restart of operations at the mine last month.The spot market trade involved a 170,000-tonne cargo of 67.7% Fe blast furnace pellet feed material sold at the February average of the Fastmarkets MB 66% Fe iron ore concentrate cfr China index, adjust...Read More
Physical iron ore prices continued to be supported on Monday January 14 by Chinese steelmakers' restocking needs head of the Lunar New Year holiday, and lower grades still enjoyed more favor.MB 62% Fe Iron Ore Index: $73.80 per tonne cfr Qingdao, up $0.35 per tonne. MB 62% Fe Pilbara Blend Fines Index: $73.94 per tonne cfr Qingdao, up $0.35 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.50 p...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 transactions: iron oreIron oreVale, Global Ore, 170,000 tonnes of 62% Fe Brazilian Blend fines, traded at $75.50 per tonne cfr China, laycan February 3-12.Anglo American, tender, 170,000 tonnes of 67.7% Fe Minas Rio Blast...Read More
The seaborne coking coal spot market tumbled on Monday January 14 with supply pressures weighing on transaction prices for cargoes sold to China.A February-laycan cargo of a top Australian brand was traded around $198-199 per tonne cfr China while a shipment of premium mid-vol materials, also scheduled for loading in February, changed hands at $185 per tonne cfr China."The market is still spiralin...Read More
The seaborne iron ore concentrate and pellets markets both weakened in the week to January 11 amid lackluster demand from China.ConcentrateThe weekly Fastmarkets MB 66% Fe Iron Ore Concentrate Index stood at $92.64 per tonne cfr China last Friday, down by $0.12 per tonne from a week earlier.The daily MB 65% Fe Iron Ore Index averaged $88.24 per tonne cfr China last week, compared with an average o...Read More
The time to start buying Chinese stocks is now.Don’t let the trade war fears scare you. China has some of the largest and most innovative companies in the world, yet their stock prices in no way currently reflect it.Your Editor Zach Scheidt and I saw firsthand some of their technology last week at the Consumer Electronics Show (CES) in Las Vegas. It was nothing short of incredible.Drone deli...Read More
China's ferrous futures, apart from the iron ore contract, had a strong start to the trading week, ending the morning session on Monday January 14 higher than their opening prices.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,559 yuan ($526) per tonne, up 25 yuan per tonne May hot rolled coil: 3,453 yuan per tonne, up 25 yuan per tonne Dalian Commodity Exchange Ma...Read More
Here are five Fastmarkets MB stories you might have missed on Monday January 14 that are worth another look.Participants in the Japanese market are deciding whether to change the benchmark price for long-term ferro-chrome contracts to China's monthly steel mill ferro-chrome tenders price from the quarterly European benchmark price, market participants told Fastmarkets. RISI and FOEX, two lead...Read More
Norway-based ferro-silicon alloy producer Elkem and UK-based Ferroglobe have reduced their silicon production by 30,000 tonnes per year and 27,000 tpy, respectively, with both quietly introducing the cuts around the year-end holiday period.Elkem began cutting its silicon output effective from Monday January 7 by temporarily reducing production by one furnace at Elkem Salten. The company joins...Read More