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
Prices for ferrous scrap imported into India moved down this week after a sudden drop in Turkish scrap prices midweek had a knock-on effect, sources told Fastmarkets on Friday September 20.Fastmarkets' weekly price assessment for steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $256.82 per tonne on Friday, down from $262.71 per tonne one week ago.At the start of the week, deals fo...Read More
The inter-merchant spot market for UK light iron scrap held steady over the week ended Friday September 20, with smaller sellers reporting offer prices in the upper half of the present price range, and major suppliers that process scrap reporting prices in the lower half of the range.The market had dropped for two consecutive weeks before September 13, with settlement prices agreed in consumer del...Read More
The Turkish deep-sea scrap markets were again quiet at the end of this week with expectations of lower prices, sources said on Friday September 20.The steel producers in the country have been quiet since Wednesday, when two UK cargoes were sold at $228 per tonne cfr for HMS 1&2 (80:20). Those sales sent the daily indices down by almost $10 per tonne on the day.Following the news of these UK cargoe...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materialsLatest transactions: iron oreIron oreSpot market, 170,000 tonnes of 62% Fe Brazilian Blend fines, sold at $90.80 per tonne cfr China, mid-October arrival.BHP, private tender, 90,000 tonnes of 62.4%...Read More
Physical iron ore prices continued to slide on Friday September 20 amid further losses in the steel markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $92.56 per tonne, down $0.67 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $92.95 per tonne, down $0.67 per tonne.62% Fe low-alumina fines, cfr Qingdao: $90.78 per tonne, down $0.69 per tonne.58% Fe fines high-premium...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening tradeThe Canadian Dollar slipped 0.12 to U.S. 75.25 cents following release of Canada's July Retail Sales report. Consensus was an increase of 0.6% versus a revised slip of 0.1% in June. Actual was an increase of 0.4%Micron added $0.39 to $50.21 after JP Morgan raised its target price to $65 fro...Read More
Seaborne coking coal prices have fallen to a three-year low while the segment for premium products appear to be diverging into two distinct tiers due to sustained Chinese demand for low-vol materials and fewer takers for mid-vol cargoes.Premium hard coking coal, fob DBCT: $128.19 per tonne, down $12.47 per tonnePremium hard coking coal, cfr Jingtang: $154.98 per tonne, down $6.45 per tonneHard cok...Read More
China's hot-rolled coil prices fell again on Friday September 20, with mills rushing to sell amid rising inventory levels ahead of an approaching week-long holiday.DomesticEastern China (Shanghai): 3,600-3,610 yuan ($507-509) per tonne, down 40 yuan per tonneNorthern China (Tangshan): 3,540-3,560 yuan per tonne, down 50-60 yuan per tonneSellers in the spot market started to lower prices in the mor...Read More
China's domestic rebar prices continued maintained their downward trend on Friday September 20 amid high selling interest. Domestic Eastern China (Shanghai): 3,620-3,650 yuan ($511-515) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,560-3,600 yuan per tonne, down 20 yuan per tonneStockists were actively selling rebar to draw down their inventories on expectations of higher production...Read More
The markets remain in limbo this morning, Friday September 20, while they wait for any news from the initial talks that are underway between deputy trade negotiators in the United States.With the US, Europe and China all showing they are prepared to ease monetary policy and with some signs of slightly better economic data, the markets seem a little less nervous and with that prices are managing to...Read More
An overview of the minor metals markets and their latest price moves.Read More
In generations past, "hobbies for retirees" meant things like knitting, hanging out at the VFW, and flipping through TV Guide to see when Matlock would be on again.Sure, some people were a little more active, but the expectation was that once retired, the adventures in life were pretty much over.These days, it's possible to retire earlier, live longer, and stay healthier than ever before, so there...Read More
The following Fastmarkets minor metals prices changed on Friday September 20:Minor metalsAntimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,850-6,150 per tonne from $5,800-6,100Antimony MMTA standard grade II, in-whs Rotterdam, $/tonne: $5,800-6,100 per tonne from $5,800-6,085Bismuth 99.99% Bi min, in-whs Rotterdam, $/lb: $2.55-2.90 per lb from $2.60-2.90Cobalt alloy grade, in-whs...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
Stainless steel prices in Europe were stable this week amid expectations of dramatically increased alloy surcharges for October, sources told Fastmarkets on Friday September 20.October alloy surcharges will be based on nickel prices between August 21 and September 20. During this time, the average price for nickel, 3-months, London Metal Exchange Daily Official, was $17,178 per tonne, up by $2,183...Read More
Austenitic alloy steel scrap prices in Europe and the UK have decreased sharply for the second week running on weak demand and material oversupply, traders told Fastmarkets on Friday September 20.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK was ?820-870 ($1,024-1,067) per tonne on Friday, down by ?100-110 per tonne week on week. Fas...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday September 20:Aluminium scrapFloated frag, delivered consumer Europe, ?,?/tonne: ?,?850-880 per tonne from ?,?900-930Cast, delivered consumer Europe,...Read More
An oversupply of scrap in the spot market continued to force prices down in the week ended Friday September 20, with numerous cargoes from Europe, Hong Kong, Japan and the United States' West Coast (USWC) offered to buyers in Southeast Asia.The premium of $10 per tonne which USWC-origin HMS 1&2 (80:20) typically commands over Japanese H2-grade scrap has disappeared in the face of stiff price compe...Read More
China's electric vehicle (EV) sales have declined year-over-year for the second straight month, on the heels of uncharacteristically slow growth this spring, indicating that contractions in cobalt supply may be partly offset by lower-than-anticipated battery demand.China announced in March that it planned to end a key subsidy for smaller EVs with a driving range below 250 km, and to halve the subs...Read More
Probe Metals (TSXV: PRB; US-OTC: PROBF) has released an updated resource estimate for its Val-d'Or East project in Quebec, 25 km east of Val-d'Or and 1.5 km west of the company's New Beliveau deposit.Resources in all categories total 3.2 million oz., up from 1.4 million oz. in the 2018 estimate.David PalmerCEO, Probe Metals"It is a very pivotal resource," says David Palmer, Probe Metals' president...Read More