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
Automaker Ford Motor Co has no current plans to take stakes in mining assets or secure direct offtake agreements with mining firms in order to produce batteries for electric vehicles, although it hasn't ruled it out entirely. Ted Miller, senior manager for energy storage strategy and research at the Michigan, US-based company, said Ford had "considered all options" and ultimately opted for a more...Read More
Turkish deep-sea scrap import prices went up on Monday February 4 after a new cargo booking was heard, sources told Fastmarkets.A cargo came to light on Monday which was reported to have sold on Friday, but after the submission deadline for that day's indices.A steel mill in the Izmir region booked a European cargo comprising...Read More
Domestic scrap prices in Turkey have increased over the past seven days, in line with higher costs for imported scrap, sources said on Monday February 4.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) scrap was TRY1,595-1,690 ($306-324) per tonne delivered on February 4, rising from TRY1,500-1,660 per tonne last week.https://www.metalbulletin.com/My-price-book.html?Price=...Read More
* Coordinated move comes after election ultimatum * Opposition head declared himself interim president * Major EU nations join Trump's stance against Maduro * Russia accuses EU of foreign meddling, Italy divided (Adds Estonia, edits)By Gabriela Baczynska and Jose El?-as Rodr?-guezBRUSSELS/MADRID, Feb 4 (Reuters) - Major European nationsjoined the United States in recognising opposition leader Juan...Read More
Editor’s Note: This story was previously published in November, 2018. It has since been updated and republished.After the most recent midterm elections it was clear that Americans preferred legalization over the continued prohibition of pot, which should bolster the case for the top marijuana penny stocks.When residents in California voted for full recreational weed, it boded well not just f...Read More
The South African government should consider recapitalizing the country's state-owned power utility, Eskom, as part of a plan to turn it around, the company's chief executive officer has said.Phakamani Hadebe told Fastmarkets during an on-stage interview at the 25th Mining Indaba in Cape Town, South Africa, that discussions were continuing with Eskom's main shareholder on how best to help the comp...Read More
The Monday Market Minute Global stocks drift lower in thin volumes as lunar new year celebrations keep many markets in Asia closed for the week and investors continue to focus on the surprising underlying strength of the U.S. economy.Oil prices hit the highest levels of 2019 amid the twin pressures of slowing global supply and last week's sanctions on the sale of Venezuelan crude to the United S...Read More
The price for copper in the United States market fell in morning trading on Monday February 4 on a lack of fresh news about the US-China trade war, Fastmarkets heard.The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped by 0.60 cents on Monday to $2.7670 per lb.Market participants kept their focus on any new developments in the US-China trade battle...Read More
Three-month base metals prices on the London Metal Exchange were mixed this morning, Monday February 4, with copper down by 0.4% at $6,116 per tonne and zinc leading on the upside with a 0.6% gain. Aluminium, nickel and lead were all up by 0.2% and tin was little changed.With the Lunar New Year holidays (February 4-10) underway in China and across most of Asia, volume across the LME base metals co...Read More
Automaker Ford Motor Co, China's Huayou Cobalt and South Korean battery supplier LG Chem have joined forces in a blockchain project to monitor cobalt supplies from the Democratic Republic of Congo (DRC), an executive at Ford said. Using technology by IBM and overseen by responsible-sourcing group RCS Global, Ford and its partners are working to ensure that the cobalt used in lithium-ion batteries...Read More
Key data from the February 1 pricing session in London. Key drivers- Cobalt prices continue to soften, with material from certain metal brands understood to be in adequate supply over the coming months, because they were not committed to long-term supply deals. Benchmark standard-cobalt prices were down by 21.5% in January; alloy-grade prices were down by 23%.- The pace of price declines slowed wh...Read More
(Updates prices) * Gold stuck in range of $1,300 to $1,325/oz - analyst * SPDR gold holdings slip 0.8 percent on FridayBy K. Sathya NarayananFeb 4 (Reuters) - Gold prices slipped to their lowest innearly a week on Monday as the dollar and global equities firmedon the back of upbeat economic data from the United States.Spot gold was down 0.5 percent at $1,311.25 per ounceat 1320 GMT, having hit $1,...Read More
Automaker Ford Motor Co has no current plans to take stakes in mining assets or secure direct offtake agreements with mining firms in order to produce batteries for electric vehicles, although it hasn't ruled it out entirely. Ted Miller, senior manager for energy storage strategy and research at the Michigan, US-based company, said Ford had "considered all options" and ultimately opted for a more...Read More
While US and Canadian cannabis stocks continue to crush it, a lesser-known cannabis market that could ultimately end up being the largest in the world, isn't getting much attention.According to Prohibition Partners, Europe's cannabis market is estimated to be worth as much as $140 billion by 2028, likely becoming the world's largest legal market over the next five years.Here are some highlights fr...Read More
Prices of flat steel products in Brazil fell in the early days of February, with market participants receiving discounts because of the threat of imported material, Fastmarkets heard on Monday February 4.Buyers claimed that they could get significant discounts by purchasing large volumes of certain materials, such as batches of more than 10,000 tonnes.Fastmarkets' monthly assessment of the price o...Read More
Prices in the export market for flat steel from the Commonwealth of Independent States (CIS) have increased because of low material availability, sources told Fastmarkets on Monday February 4.Fastmarkets' weekly price assessment for CIS-origin exports of HRC was $460-480 per tonne fob Black Sea on February 4, up by $15 per tonne week on week.Mills were heard to have very limited tonnages to offer...Read More
Turkey's imported flat steel volumes fell by 17.66% year on year in 2018, according to data released by the Turkish Statistical Institute (TUIK) last week.Turkey imported 6,908,686 tonnes of flat steel in January-December 2018, down from 8,390,305 tonnes in 2017.The decrease was largely due to weak demand for steel in Turkey's local market through 2018, especially in the second half of 2018, sourc...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK Canadian Insider Index began with some heaviness, slipping to the low 1070s where it held above its middle Bollinger band. From there, the INK CIN bounded straight up and through 1100 resistance and came to rest at 1120.75 for a gain of 23.3 points or 1.9%, The Index ha...Read More
Mexico's steel industry association Canacero has demanded the renewal of a safeguarding duty of 15% imposed on imports of steel products, after it expired on January 31, it told Fastmarkets on Monday February 4.The duty was first set in October 2015, and has been renewed several times. In June 2018, the tariff was imposed on imports of products classified under 186 tariff codes, including...Read More
Import prices for rebar in Singapore were unchanged in the past week due to a seasonal lull ahead of the Lunar New Year holidays.Fastmarkets MB's import price assessment for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical weight basis - was $460 per tonne cfr for the week to Monday February 1, unchanged from a week earlier.There was limited interest fro...Read More