Cobalt trade log including business, bids and offers reported to Fastmarkets. Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets' price assessment for standard-grade cobalt, in-warehouse, $ per lb Click here fo...Read More
Key data from the Friday May 17 pricing session in London. Key drivers - Cobalt prices show slight weakness over the course of the week while consumers and traders refrain from buying. Sellers lower their offers while consumers have their immediate requirements covered, so most market participants expect a moderate decline in prices over the summer. -...Read More
The market for flat steel products in Russia's Central Federal District around Moscow was stable at the start of this week, with price movement depending on trends in the export market, sources told Fastmarkets on Monday May 20.Fastmarkets' weekly price assessment for Russia-origin 4mm hot-rolled (HR) sheet was unchanged on May 20 at 43,000-44,500 roubles ($664-687) per tonne cpt Moscow, including...Read More
The market for exports of hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States (CIS) was frozen on Monday May 20 because suppliers preferred wait for more clarity to emerge in Turkey, the key outlet."[The CIS] mills are mostly sold out for June production, and they have time to wait until some clarity appears in Turkey," one trader told Fastmarkets.The Unite...Read More
European distributors of flat steel products reported a 4.5% year-on-year drop in shipment volumes in the first quarter of 2019, Eurometal said on Monday May 20."Shipments continued their negative trend of late last year and this was accompanied by rising stocks," the regional federation for steel, tube and metals distribution and trade said.European steelmakers such as Germany's ThyssenKrupp have...Read More
European distributors of flat steel products reported a 4.5% year-on-year drop in shipment volumes in the first quarter of 2019, Eurometal said on Monday May 20."Shipments continued their negative trend of late last year and this was accompanied by rising stocks," the regional federation for steel, tube and metals distribution and trade said.European steelmakers such as Germany's ThyssenKrupp have...Read More
It was a beautiful gesture, and one that will not be forgotten anytime soon.Billionaire investor Robert Smith, while delivering his commencement address at Morehouse College, announced that he would cover the college loan debts of all the graduating students.Can you imagine that?Can you imagine the huge collective sigh of relief that came over the crowd after Smith made that announcement?I'm happy...Read More
Let's call it like it is: The majority of the resistance against alternative energy comes from the political right.But let's not be too quick to pass judgment. Fact is, it's totally understandable why conservatives would be hesitant regarding alternative energy.The left would have you believe the conservative thinking is, "If it's new, it's bad." But that's not necessarily the case. From what I ga...Read More
CIS export rebar and wire rod markets were quiet in the week ended Monday May 20 with most buyers and sellers taking a wait-and-see approach seeking more clarity from Turkey, which finally achieved a reduction to the US import duty to 25% last week. Recent offers of rebar from Ukraine were heard within the range of $460-475 per tonne fob Black Sea, depending on destination. No bookings were report...Read More
The United Arab Emirates' biggest steel producer, Emirates Steel, has been giving discounts on its rebar price of as much as 126 dirhams ($34) per tonne ex-works on June orders, Fastmarkets learnt on Monday May 20.The conpany was accepting orders at 1,881 dirhams ($512) per tonne ex-works, but its list price was 2,007 dirhams per tonne ex-works, unchanged since early February. Fastmarkets'...Read More
Turkish domestic scrap prices have gone down amid stronger supply and softer demand over the past week, sources said on Monday May 20.Three steel mills reduced their buy prices for local shipbreaking scrap to $292 per tonne, while a fourth cut its price to $290 per tonne delivered.As a result, Fastmarkets' weekly price assessment for Turkish domestic melting scrap from shipbreaking fell to $290-29...Read More
The Turkish deep-sea scrap market became quiet again at the beginning of the week with suppliers withdrawing their offers, after news was heard of the removal of an additional US import tariff on steel imports from Turkey, sources said on Monday May 20.The United States lowered its tariff on steel imports from Turkey to 25%, from the previous 50%, with effect from May 17.This essentially removed t...Read More
Seaborne iron ore pellet and concentrate prices picked up moderately in the week to Friday May 17 as the iron ore market generally strengthened.PelletsThe weekly Fastmarkets MB 65% Fe Blast Furnace Pellet Index was at $129.93 per tonne cfr China last Friday May 17, up by $1.35 per tonne from a week earlier.Deals for Indian 64% Fe Rashmi pellet were heard at $121.50-123 per tonne cfr, although...Read More
Prices for slab exported from the Commonwealth of Independent States have continued to decline in the second half of May while producers have had to make concessions in new bookings with customers in Europe and Asia amid unfavorable conditions in their finished flat-steel outlets.Fastmarkets' weekly CIS export slab price assessment narrowed down to $450-455 per tonne fob Black Sea on Monday May 20...Read More
The mood in the CIS export billet market turned positive at the start of the week that began on Monday May 20, with most producers having almost filled their June order books in recent weeks.Import scrap prices in Turkey rebounded at the end of last week, supported by a reduction in the duty imposed on imports of Turkish steel into the United States to 25% from 50%.Although CIS...Read More
China's rebar export prices decreased on Monday May 20 on the depreciation of the yuan, while domestic prices moved down on softer demand.Domestic Eastern China (Shanghai): 4,000-4,040 yuan ($578-584) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 3,940-4,000 yuan per tonne, down 20 yuan per tonneRebar futures fluctuated wildly over the day, which pushed down buying i...Read More
Ferro-vanadium prices continued to fall globally last week amid weakening demand, with vanadium pentoxide (V2O5) prices in Europe and China following the move downward. Chinese ferro-vanadium export price drops more than 18% amid weakening domestic market. European ferro-vanadium, V2O5 prices fall again on weak demand; hit lowest level since October 2017. US market edges down under pres...Read More
Gold and silver dropping back again late last week had investors in the Precious Metals sector feeling despondent, especially as their fears were magnified by at least one analyst calling for gold to drop to the low $900's or even lower, which is normal when prices sink, but our charts are instead suggesting that gold and silver are close to completing giant bottoming patterns that started to fo...Read More
May 17th, 2019(S14-E696)Featured GuestsGerald Celente& Louis NavellierPlease Listen HereInterview RecapTrends Research Institute's Gerald Celente returns with a new daily video podcast Trends Vision 2020.US equities indexes recorded new records last month on the heels of fresh monetary stimulus.Policymakers will likely revamp US shares ahead of a forecasted market swoon sometime near the 2020...Read More
By: Doug CaseyThe Chinese came from nothing; only 40 years ago, they had nothing but a billion impoverished peasants. No money. No technology. No power. Today, they're on par with the United States. But, if this trend continues - which it will - their economy will be triple the size of the US economy in 20 years.Not just a trade war, but a shooting war with the Chinese seems inevitable. Because...Read More