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
Christophe Olivier, the head of copper concentrates trading at commodities firm MRI Trading, has left the organization after 11 years, sources close to the company told Fastmarkets on Friday January 25.Olivier, who had been with the firm since 2007, resigned earlier this week to pursue other opportunities, one source said.MRI declined to comment at the time of publication.It is unclear whether the...Read More
Base metal stocks at Shanghai Futures Exchange-approved warehouses were mostly up week on week on Friday January 25, with copper registering the largest gain while lead and nickel stocks fell. Deliverable copper stocks at SHFE-approved warehouses grew 18.7% or 18,849 tonnes to 119,727 tonnes in the week to Friday. The 830 Huangpu warehouse in Guangdong had 7,220 tonnes of copper delivered into its...Read More
Base prices for coated flat steel in the United States have slipped by a further 50 cents per hundredweight ($10 per short ton) in Fastmarkets AMM's latest assessment, driven in part by prices as low as $39 per cwt that were heard in the marketplace this past week. Fastmarkets assessed the domestic base price for hot-dipped galvanized coil at $40 per cwt ($800 per ton) on Thursday January 24, whil...Read More
Beam prices in the United States' domestic and import markets are steady for now but industry sources are eyeing softening market conditions moving forward. Fastmarkets' assessment for domestic W8- x 8-in beams were flat at $41.75 per hundredweight ($835 per short ton) on Thursday January 24. At the same time, imported beams held at $780-820 per ton ($39-41 per cwt) delivered duty paid p...Read More
Domestic prices for rebar in Poland have moved further down over the week due to slow trading, sources told Fastmarkets on January 25.Additionally, Polish steelmakers have settled monthly contracts for scrap at a lower price - a decrease of about 60 zloty ($16) per tonne - which has had an additional negative impact on rebar prices, market participants told Fastmarkets.As a result, Fastmarkets' pr...Read More
Restocking by rebar producers, coupled with increased buying by traders, has pushed Indian domestic secondary steel billet prices upward by at least 1,000 rupees ($14) per tonne over the past week, Fastmarkets heard on Friday January 25.The Indian domestic secondary billet price assessed by Fastmarkets was 31,900-32,100 rupees ($449-452) per tonne ex-mill on Friday, up from 30,900-31,100 rupees pe...Read More
Coated steel prices in Turkey were stable in the week ended Friday January 25, with some producers closing their sales books because they were planning to increase prices.The producers wanted to wait and see whether price increases for hot-rolled coil (HRC) would be accepted by the market, before announcing new prices, sources told Fastmarkets.Fastmarkets' weekly price assessment for Turkish domes...Read More
Most flat steel import prices decreased in South America during the week ended Friday January 25, but hot-rolled coil (HRC) was boosted by higher demand and a slight recovery.Fastmarkets assessed the HRC import price in South America at $525-540 per tonne cfr on January 25, up from $520-530 per tonne a week before. This was the highest price since December 7 last year.With Chinese export prices go...Read More
Some steel coil prices in Turkey increased this week because of the high cost of scrap and other global price increases, but demand continued to be low, sources told Fastmarkets on Friday January 25.Demand has been poor in the country since August 2018, when relations between Turkey and the United States deteriorated. The Turkish lira lost value against the US dollar after US President Donald Trum...Read More
Slab export prices from Brazil remained unchanged week-on-week on Friday January 25, with low volumes booked and mills preparing to launch next months' offers.Fastmarkets' weekly assessment of Brazilian slab export prices was stable week on week at $410-460 per tonne fob on Friday, unchanged from a week earlier.Deals to Europe were last concluded around $410 per tonne fob, while in the United...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedElement 25 targeting clean entry into high-growth marketSPONSOREDelement 25A repaired balance sheet, constrained growth ambitions, commodity price improvements, and huge proceeds from widespread portfolio "optimisation'' have made it all possible.Read More
Likely Shadary win in DR Congo threatens further squeeze on miners' profitsSPONSOREDverisk maplecroftAlderan unlocking Frisco potentialSPONSOREDalderan resourcesRhyolite Ridge PFS beats expectationsSPONSOREDioneerElement 25 targeting clean entry into high-growth marketSPONSOREDelement 25A strong final quarter of the year saw 2018 group production come in at 466,475 tonnes of copper and 223,041...Read More
Pig iron exporters in southern Brazil expect prices to stabilize after another deal to the United States was concluded this past week, Fastmarkets learned on Friday January 25.Fastmarkets' weekly price assessment for pig iron exports from the southeastern Minas Gerais region remained at $310-312 per tonne fob on January 25.A deal for around 35,000 tonnes of pig iron with 0.15% phosphorou...Read More
Chinese e-commerce giant Alibaba Group Holding Ltd will continue to invest aggressively despite an uncertain business environment, a senior company executive said at a Reuters BreakingViews event on Friday.Alibaba's executive vice-chairman Joe Tsai struck an optimistic note about China and said people were over worried about the country's economy, adding that Chinese consumers were still fundament...Read More
European miners will maintain their position at the forefront of integrating technology, particularly in more developed markets, due to a highly skilled workforce and high levels of connectivity among the more developed economies, a regional overview published by Fitch Solutions reports. On a more sombre note, analysts predict high costs, a weak project pipeline and conservative company strate...Read More
Three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.4% this morning, Friday January 25 - this despite Thursday’s generally weak flash manufacturing purchasing managers' index (PMI) data in Asia and Europe, although the United States showed a stronger number. Copper led the way with a 0.9% gain to $5,967 per tonne, followed by a 0.6% gai...Read More
Pig iron buyers in the United States have continued purchasing materials for restocking purposes but at low prices, although further reductions were doubtful because suppliers were not ready to reduce prices further, sources told Fastmarkets on Friday January 25.Fastmarkets' import price assessment for pig iron in the US was $340-350 per tonne cfr on Friday, widening downward from $345-350 per ton...Read More
A rupture in a tailings dam at Vale's Feij??o mine in the city of Brumadinho, in the state of Minas Gerais in south-east Brazil, has flooded the company's administrative facilities and part of the nearby Vila Ferteco community. "There is no confirmation about injured people at the site," Vale said on Friday January 25. "[The company's] top priorities right now are preserving and protecting the liv...Read More
The price of shredded ferrous scrap imported into India went up this week after deals were agreed at higher prices, market participants said on Friday January 25.Fastmarkets' weekly index for containerized imports of shredded scrap into India was $322.34 per tonne cfr Nhava Sheva on January 25, up from $318.73 per tonne cfr Nhava Sheva on January 18.Deals for shredded material were heard done at $...Read More
Turkish deep-sea scrap import prices continued to rise because of tight supply and increasing collection costs due to the heavy winter conditions, sources said on Friday January 25.A number of market participants were talking about a US deal to Turkey. The details of the transaction were not clear at the time of publication, but some sources believed that the cargo was sold at $295-298 per tonne c...Read More