The Section 232 tariffs implemented in the United States in 2018 led to a sharp increase in domestic steel prices, driving the hot-rolled coil index to a nearly 10-year peak in July. But how did the tariffs impact the rest of the global supply chain? Fastmarkets' regional experts gave us answers.ChinaChina has exported less hot-rolled coil since the Section 232 tariffs took effect, but soft domest...Read More
The stock market "secret" no one is talking about.The world's richest investors have been using this simple "trick" to build massive fortunes for decades.They've done everything in their power to hide the truth from individual investors. In the process they've created a totally uneven playing field... where most of the players don't even know the rules of the game.This lack of fairness is one of...Read More
Early investors stand to reap the rewards as a new technology looks to change everything.One research firm - which recommended Google and Amazon before they became household names - has built a worldwide reputation of identifying profitable tech trends well before Wall Street and the talking heads on T.V.And just recently, they've uncovered a technology that's already being labeled "humanity's las...Read More
Refining charges (RCs) for blister copper have decreased for 2019 contracts on a cif China basis because of growing concerns about supplies.The majority of contractual RCs were settled within the range of $155-175 per tonne for next year, Fastmarkets has assessed. That compared with $165-180 per tonne for 2018 contracts.In December, contractual talks between Jiangxi Copper and Chambishi, which pro...Read More
Before I address my so-called predictions for what I believe is in store in 2019 for the economy and stock markets, let's take a quick review of what transpired in 2018.GDP was up along with the economy. But was it really? With infused cash and borrowing, the economy continued its torrid pace. Borrowing from the Fed will most likely have to continue for the economy to continue roaring forwards int...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Wednesday January 2, under pressure from upward momentum in the United States dollar index although a marginal downturn in US equity markets hindered buying sentiment.In afternoon trading, the three-month price of lead fell by more than 3% to reach an intraday low of $1,942 per tonne. It had spent most of...Read More
Prices for mesh-quality wire rod were unchanged across Europe on Wednesday January 2, with market activity subdued by the year-end and the possible expiration of the European Commission's import quota scheme. Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern Europe and Northern Europe stayed at ?,?540-560 ($619-642) per tonne delivered on Wednesday.The...Read More
It's been nine months since the United States announced Section 232 tariffs, and over six months since a 10% tax was applied to imports of aluminium from Canada, Mexico and the European Union. There's been a huge debate over how successful the tariffs - imposed on the grounds of national security and also applied at a 25% rate to steel - have been. Much depends on who you talk to, and what their s...Read More
Years ago, the idea that machines would replace humans on the trading floor seemed far-fetched and the suggestion that algorithms might replace humans entirely ridiculous.But both have happened in some shape or form, making the advent of blockchain - now being vaunted as the next game-changer in technology - a lot more realistic than naysayers might initially think.Dozens of trials and projec...Read More
Since its merger with Xstrata, Glencore - previously a trading and marketing firm - has become a mining firm whose earnings before interest, taxes, depreciation and amortization is dominated by earnings from its industrial activities. The recent appointment of Peter Freyberg as head of the company's industrial mining assets, a newly created position with oversight and responsibility for all Glenco...Read More
Chris says to watch silver because this latest break-out is very important. Is $60 - $65 silver possible in the near future? Here's Chris to explain...by Chris Vermeulen of The Technical TradersWatch Silver, folks. This quiet shiny metal is starting a move that could be very foretelling of global market concerns and risks. Early on December 26, 2018, Silver broke through recent resistance, to the...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Wednesday January 2, under pressure from upward momentum in the United States dollar index although a marginal downturn in US equity markets hindered buying sentiment.In afternoon trading, the three-month price of lead fell by more than 3% to reach an intraday low of $1,942 per tonne. It had spent most of...Read More
Comex copper futures softened in the first trading day of the new year in the United States amid disappointing Chinese manufacturing results and persistent weakness in US stocks.The copper price for March settlement on the Comex division of the New York Mercantile Exchange declined 2.90 cents to $2.6020 per lb.Weaker than expected manufacturing data from China prompted the Asian markets to open tr...Read More
Erus Metals USA LLC has withdrawn from London Metal Exchange warehouse services, the exchange said on Tuesday January 1.Erus Metals USA is a subsidiary of Erus Metals Limited, the USA branch only had one warehouse left, in Panama City, Florida, which will now be delisted from the LME. According to exchange data in November, it held no LME stock.In...Read More
Shares in explorer SolGold (LON, TSX:SOLG) closed 2.3% higher in London and were trading up 8.3% in Toronto early morning after it announced it had discovered a new copper and gold mineralization at its Porvenir project, located in southern Ecuador.A broad zone of northeast-trending porphyry mineralization about 1km-wide and hosting numerous porphyry centres currently defined over 6km-long and...Read More
Blackwater founder Erik Prince aims to raise as much as $500 million to invest in metals needed for making the batteries that power electric vehicles (EVs), the Financial Times reports.Prince, who besides starting the controversial private security company is known for have been an informal campaign adviser to US President Donald Trump, said the fund will bring unexplored deposits into productio...Read More
China's No.1 gold producer Zijin Mining plans to issue 8 billion yuan (about $1.2 billion) worth of shares in Shanghai to finance the acquisition of Canada's Nevsun Resources (TSX, NYSEMKT:NSU), the biggest overseas purchase since the Beijing-backed miner went public in Hong Kong in 2003.Zijin aims to sell up to 3.4 billion A shares to investors in China, in a plan which is subject to shareholder...Read More
China's month-on-month new electric vehicles (NEV) sales rebounded in August after month-on-month declines in June and July. The drop in sales between May and June was the first drop since September 2016, but Fastmarkets MB had expected Chinese NEV sales to dip temporarily after the June subsidy changes came into effect because consumers and NEV manufacturers would have to adjust to the new subsid...Read More
Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More
The steel scrap sector in the United States still depends on exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London.This dependence persists despite the changes in the international markets created by the US' imposition of its Section 232 tariffs on imports of steel products, metals analyst Le...Read More