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
More technical evidence that the U.S. Home Building Industry has bottomed: Nice breakout by ITB above $33.67 extending a double bottom pattern. StockTwits Released Yesterday @EquityClockTechnical action by S&P 500 stocks to 10:15: Bullish. Intermediate breakouts: $LEN $SBUX $WYNN $MDLZ $ALGN $MA $CHTR. Breakdowns: $CLX $HSYAfter 10:00 AM EST, breakouts included MA, CHTR, DXC, FAST, TGT, E...Read More
Alloy steel scrap prices in Europe increased in the week ended Friday February 1 because of higher costs for nickel and molybdenum.The largest gains were seen in the price of European 18/8 scrap solids imports, which moved up by ?,?20-40 per tonne to ?,?940-980 ($1,079-1,125) per tonne cif on Friday.The UK domestic price for 18/8 solids increased more modestly, with traders complaining that mills...Read More
The price of shredded ferrous-scrap imported into India went up again this week following deals being booked at higher prices, market participants said on Friday February 1.Fastmarkets' weekly index for containerized imports of shredded scrap into India was $328.41 per tonne cfr Nhava Sheva on February 1, up from $322.34 per tonne cfr Nhava Sheva on January 25.Deals heard for shredded material had...Read More
Turkish deep-sea scrap import prices were unchanged on Friday February 1, with no new bookings on the day after a large volume of material was booked earlier in the week, sources told Fastmarkets.With 17 cargo bookings confirmed this week, Turkish mills have recently bought more than 240,000 tonnes of HMS 1&2, as well as several thousand tonnes of shredded, bonus and other grades.Bookings were hea...Read More
Base metals prices on the London Metal Exchange consolidated lower during morning trading on Friday February 1, hampered by weaker-than-expected Chinese PMI data and while the Chinese New Year holiday next week kept Asian markets idle. Copper's three-month price fell the furthest out of the base metals complex this morning, retreating toward $6,100 per tonne after reaching an intra-morning high of...Read More
Yesterday we cracked open MMT - Modern Monetary Theory.Today we poke it, prod it, shake it, heckle it, harass it, roughhouse it, waterboard it... and see if it holds together.Did you miss yesterday's reckoning?Before pressing on we suggest you first catch up here.But to proceed…As explained yesterday, MMT is drawing a crowd nowadays.Its drummers claim it is a powerful tool to invigorate the...Read More
There was little activity in the seaborne coking coal market on Friday February 1 amid uncertainties following the emergence of new import restrictions at ports in northeastern China. A March-loading cargo of premium mid-vol hard coking coal was traded at a premium that is slightly above 0.5% against a basket of indices, Fastmarkets heard.In China, the trading lull has set in again with the Chines...Read More
It's on!After agreeing to temporarily end the partial government shutdown last Friday, the president and House Speaker Nancy Pelosi spoke by telephone on Monday to resolve issues regarding the State of the Union address.In his formal response after a 12-minute phone conversation initiated by the speaker, the president wrote:“Thank you for your letter inviting me to deliver the State of the U...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Friday February 1 *Copper -$140.86 (-951.45 yuan) Aluminium -$367.71 (-2,483.82 yuan) Zinc -$60.30 (-407.32 yuan) Nickel -$345.27 (-2,332.26 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
"Dow just broke 25,000. Tremendous news!"Thus the president delivered a blast for the stock market yesterday... for the first time since October.Yesterday's 435-point surge was substantially due to Jerome Powell's pledge to be "patient."Further, that he is prepared to take his hands off the balance sheet:The committee is revising its earlier guidance regarding the conditions under which it could a...Read More
China's hot-rolled coil prices remained flat on Friday February 1, with the market quietening down on the approaching Chinese New Year holiday next week.DomesticEastern China (Shanghai): 3,780-3,800 yuan ($564-567) per tonne, unchangedNorthern China (Tianjin): 3,720-3,740 yuan per tonne, unchangedFew traders remained active in the market during the day, with most of them starting their break well...Read More
An overview of the minor metals markets and the reasons for any price moves. Read More
The following Fastmarkets minor metals prices changed on Friday February 1:Minor metals Bismuth MB free market, $/lb: $3.70-4.20 per lb from $3.70-4.10Cadmium MB free market min 99.95%, cents/lb: 127-132 cents per lb from 125-130 centsCadmium MB free market min 99.99%, cents/lb:...Read More
The latest selenium transactions, bids, offers and assessments in Europe reported to Fastmarkets.Unless otherwise stated, all prices are per lb and on an in-warehouse Rotterdam basis. Delivered prices are netted back.To view the latest price assessment, click here.To see all Fastmarkets' pricing methodology and specification...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves.Read More
A summary of Glencore's production results for the year ended December 31, 2018, as well as its production guidance for 2019.In briefThe year-on-year rises in copper and cobalt production were mainly attributed to the restart of Glencore's Katanga processing operations in late 2017. The company's copper sales in 2018 were 22,000 tonnes lower than production...Read More
Further weakness in China's Caixin manufacturing purchasing managers' index (PMI), that fell to 48.3 in January from 49.7 in the prior month, was enough to dent confidence in the base metals market this morning, Friday February 1, with prices for the most part weaker as a result. Three-month base metals prices on the London Metal Exchange were down by an average of 0.3% this morning, with aluminiu...Read More
China's crude stainless steel output rose 3.6% to a new high in 2018, according to data released by the China Stainless Steel Council.The country produced 26.71 million tonnes of crude stainless steel last year, up 940,000 tonnes from 25.77 million tonnes a year earlier, according to the statistics released late on Thursday January 31. Of the total, 48% or 12.82 million tonnes consisted of 300-ser...Read More
Colorado School of Mines students hacked their way to a top-10 finish in one of the most important cybersecurity competitions in the nation.Twenty Mines students participated in the 2018 NSA Codebreaker Challenge, which ran from the end of September through Jan. 6. Combined, their scores were enough to tie for 10th place out of a field of 377 U.S. universities, Mines' highest finish ever.Ryan Hunt...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday February 1:Aluminium scrapCast: ?,?960-1,010 per tonne from ?,?970-1,010Aluminium ingotDuty paid delivered...Read More