(Updates with closing prices)By Peter HobsonLONDON, May 17 (Reuters) - Copper prices fell for a fifthconsecutive week as the trade confrontation between the UnitedStates and China intensified.Investors fear the dispute will damage economic growth andweaken the outlook for metals demand, with industrial metalsprices down sharply from last summer when it began.Benchmark copper on the London Metal Ex...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Rumors that around 1,000 tonnes of bismuth held in Fanya warehouses may be auctioned dampened buying interest in China, causing the domestic Chinese bismuth price to plunge by 4% week on week on Friday May 17. Fastmarkets assessed the Chinese domestic bismuth price at 41,000-44,000 yuan ($5,959-6,395) per tonne on Friday, down from 43,000-45,500 yuan per tonne a week earlier. The latest price...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 226,361101,82578,759159,444296,627464,564477,211 Change from Prior Reporting Period 40,560-8,5655,69917,36658,19063,62555,324 Traders 18565775157267175 Small Speculators LongShortOpen Interest 53,43140,784517,995 4,33112,63267,956 non reportable positions...Read More
Bitcoin is on the move again, a venomous snake in the grass. You might expect to find a reasonable explanation for cryptocurrency's sudden, spectacular rise from the dead. Instead, you get only dim-witted speculation that institutional players are starting to warm to it again. Fidelity, for one, reportedly will be buying and selling bitcoin for institutional customers starting in a few weeks. Wh...Read More
By: Ira EpsteinGold can't get over the 18-week moving average. Concerning..Read More
There is some serious manipulation in gold. Some bank or a cartel of banks have been selling gold futures on every rise from $1330 and also gold huge amounts around $1300. One of the possible reason is to protect options investment. May and November options expiry of every year attract huge investment every year. If this is the case, then gold prices should rise after ten days. Right now the m...Read More
The global ferrous scrap markets continued to move downward during the week ended Friday May 17, except in Turkey, but a recovery was expected for most markets following the cut to the US import tariff on Turkey-origin steel. Prices begin recovery after US reduces Turkey tariff US export prices down on earlier Turkish sales Taiwan prices down on lower bids; Vietnam prices stable Indian market cont...Read More
European and UK austenitic and chrome steel alloy scrap prices decreased over the past week because of declining demand and lower ferrous scrap costs, sources told Fastmarkets on Friday May 17.Fastmarkets' assessment of the price for 18/8 stainless steel scrap solids in the UK domestic market was ?800-900 ($1,025-1,154) per tonne delivered on Friday, down by ?50 per tonne week on week.The corres...Read More
The UK's light iron market has dropped over the week ending May 17, losing another ?5 ($6.41) per tonne following a ?10 loss due to weaker European export markets into Turkey since late April, sources told Fastmarkets.The move follows a ?15-per-tonne drop in monthly delivery settlements for May that were settled between British suppliers and steelmakers this week.Fastmarkets' weekly price asses...Read More
The Friday Market Minute Global stocks drift lower, setting up Wall Street for a weaker opening bell, as Beijing ramps up rhetoric in the U.S.-China trade war.State-run media use print, television and social media to excoriate U.S. moves on trade, as well as its blacklisting of Huawei, suggesting the two sides are moving further away from a potential deal.Bank of Japan Governor vows to keep...Read More
The firmer tone of recent days has subsided this morning, Friday May 17, with some talk out of China that they are in no hurry to resume trade talks no doubt weighing on sentiment. That said, US economic data out on Thursday was generally robust with strong data on housing starts, the Philadelphia Fed manufacturing index and initial jobless claims, which somewhat countered the poor data from Wedne...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
PETERBOROUGH - Ontario's government is working for the people by holding consultations to hear from businesses firsthand on industrial electricity pricing and programs.Paul Calandra, Parliamentary Assistant to the Minister of Energy, Northern Development and Mines, met with business leaders in Peterborough today. This session is one of several in-person consultations to be held with key industry s...Read More
Ontario's government is working for the people of Northern Ontario by supporting economic development in Sault Ste. Marie with an investment in streetscapes, buildings and public spaces, creating 20 new indirect jobs.Today, Ross Romano, Parliamentary Assistant to the Minister of Energy, Northern Development and Mines, announced an investment of $600,000 to help the City of Sault?EUR?Ste. Marie rev...Read More
Chinese domestic lithium prices were stable week on week on Thursday May 16 due to slow demand and sufficient stocks at hand, Fastmarkets learned. China's battery-grade lithium carbonate and hydroxide prices were unchanged. Technical and industrial grade lithium carbonate prices consolidated increases a week ago. Rest-of-world prices were flat on slow demand and ample stocks. China's spo...Read More
Trade log for battery-grade lithium carbonate in China including trades, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per tonne on an ex-works China basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets price assessment for lithium carbonate min 99.5% Li2CO3 battery grade, spot price range, ex-works China, yuan per tonne. Fa...Read More
The import prices of flat steel in South America have largely fallen over the past week, reflecting the recent drop in Chinese prices and the higher market share taken by some exporters from the Commonwealth of Independent States (CIS) region.Fastmarkets assessed the hot-rolled coil (HRC) import price in the region at $535-550 cfr on May 17, down from $540-560 per tonne a week earlier.Russian and...Read More
Imagine ordering a helicopter ride with the ease of paging an Uber. It sounds like something out of The Jetsons. But this German startup has plans to roll out the first flying taxis within just six years.Munich-based Lilium showed off its five-seater all-electric flying taxi prototype this week to what it hopes will be a highly interested future market.The full-scale prototype is powered by 36 all...Read More
Offer prices for hot-rolled coil (HRC) in India have dropped by at least $10 per tonne after South Korea-origin HRC was offered to Indian importers this week at $545-550 per tonne cfr Mumbai, Fastmarkets heard on Friday May 17.Indian importers had last booked Japanese or South Korean HRC about two weeks ago, at $555-560 per tonne cfr Mumbai for shipment in June.Importers said, however, that the...Read More