U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.The Bank of England maintained its overnight lending rate at 0.75%. Index futures were virtually unchanged following release of the Weekly Jobless Claims report at 8:30 AM EDT. Consensus was unchanged from the previous week at 216,000. Actual was 214,000.Encana (ECA U.S.$10.24) is expected...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction: iron oreIron oreBHP, Global Ore, 90,000 tonnes of 62% Fe Newman fines, sold at the December average of a 62%...Read More
Ukrainian steelmaker Metinvest increased its output of sellable semi-finished products by 18% year on year, to 2.3 million tonnes over the first nine months of 2018, supported by favorable market conditions.In particular, Metinvest's sellable pig iron output increased by 21% year on year in January-September 2018, to 1.2 million tonnes against 989,000 tonnes.Fastmarkets' assessment for the CIS exp...Read More
Seaborne iron ore prices and premiums fell on Thursday November 1 following retreats in the futures market.MB 62% Fe Iron Ore Index: $75.25 per tonne cfr Qingdao, down $0.46 per tonne.MB 62% Fe Pilbara Blend Fines Index: $74.28 per tonne cfr Qingdao, down $0.46 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.16 per tonne cfr Qingdao, down $1.97 per tonne.MB 58% Fe Premium Index: $67.02 per ton...Read More
Seaborne coking coal spot prices were mostly unchanged on Thursday November 1 amid an inactive market.In China, spot prices for domestic coking coal from Shanxi to Tangshan increased by around 60-70 yuan ($8.60-10) per tonne, a coke plant source in Tangshan said."We saw that coming. We are now paying around 1,520 yuan per tonne for hard coking coal with 1.3% sulfur and around 1,840 yuan per tonne...Read More
China's ferrous futures were mixed during morning trading on Thursday November 1, with the hot-rolled coil contract trending downward during the session while the coking coal one went the opposite direction. The rebar, iron ore and coke contracts did not end too far from their opening prices.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,140 yuan ($594) per ton...Read More
Global gold demand was steady in Q3 2018 at 964 tonnes (t), up just 6t year-on-year according to the World Gold Council’s latest Gold Demand Trends report. Robust central bank buying and a 13% rise in consumer demand offset large outflows in gold-backed exchange-traded funds (ETFs). Lower gold prices saw retail investors take refuge in bars and coins, while jewellery purchases increased in I...Read More
Xcoal Energy & Resources has exported the first cargo of Baralaba low-vol pulverized coal injection (PCI) shipment from the Baralaba North mine in Queensland, Australia, it said on Wednesday October 31. The mine is on track to produce 250,000 tonnes of coal this quarter, with the first shipment sold to an end user in China, chief executive officer Ernie Thrasher said in a statement. The mine is ra...Read More
Last week, while on the campaign trail stumping for Republicans prior to the midterm elections on Nov 6, Trump touted a new tax cut plan for the middle class to the tune of 10 percent.According to the top Republican lawmaker on tax policy in the U.S. House of Representatives, Kevin Brady of Texas, the plan will be revealed in the coming weeks: "President Trump believes American families deserve to...Read More
There’s no question Donald Trump is the richest President in the history of the United States.At a staggering estimated net worth of over $5.5 billion dollars, he’s richer than every previous U.S. president... combined!And while it’s public knowledge he made his fortune in real estate...Few people know exactlyhow he did it.Especially the mainstream media... (They’re clueles...Read More
Today we return to bedrock economics... and consider "the seen versus the unseen."The latest government report claims third-quarter GDP expanded at a 3.5% rate, annualized.Combined with the second quarter's 4.2%, the results are the strongest consecutive quarters in four years.In all, Commerce Department data reveal the U.S. economy has expanded at nearly 3% since April last.The Wall Street Journa...Read More
This week is "make or break" for the stock market, says strategist Charlie McElligott.If Monday provided an indication, "break" is more likely.Like a proud but aging heavyweight, stocks answered the opening bell with the best blood they could summon... and a chip on their shoulder.The Dow Jones was soon up and away, 352 points higher.But in later rounds stocks began to wobble... and stagger.By the...Read More
Benchmark international prices for cobalt stabilized last month, but salts and metal prices fell in China amid weak demand and falling local futures prices, triggering a physical sell-off.Price moves: Benchmark low-grade cobalt traded in the remarkably stable range of $33.50-34.45 per lb in October, where the assessment also ended the month. Tightness continued in the low-grade market, which takes...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed ferrous trade cases from around the world in October 2018.The case list below includes only updates. For other continuing cases this year, see the updates for January, February, March, April, May, June, July, August and September.1. EU: seamless steel pipes and tubes from Ru...Read More
Good morning from Fastmarkets MB's offices in Asia, bringing the latest news and pricing stories on Thursday November 1. Base metals prices on the Shanghai Futures Exchange were mostly down during Asian morning trading, with the complex coming under pressure from weaker China data. China's weak manufacturing growth for October, with manufacturing PMI at 50.2 and non-manufacturing PMI...Read More
Import prices for stainless steel in East Asia declined further over the past week after exporters continued to lower their offers amid pressure from stagnant demand and a slumping nickel market.Fastmarkets MB's import price assessment for 304 stainless 2mm trimmed cold-rolled coil was $2,040-2,110 per tonne cif East Asia for the week ended Wednesday October 31, down by $20-30 per tonne from a wee...Read More
China's domestic stainless steel prices trended downward for a third week due to soft demand and losses in the nickel market.Fastmarkets MB's price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,400-15,700 yuan ($2,208-2,251) per tonne including VAT for the week ended Wednesday October 31, down 100 yuan per tonne from a week earlier.An inactive downstrea...Read More
Key data from the Wednesday October 31 pricing session in Asia. Key drivers: - Japanese buyers maintained bid prices, accepting current market levels. - Offers from new supply regions, such as Russia and the...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedGalan Lithium scores coup in Argentina's 'Pilbara of lithium'SPONSOREDgalan lithiumWhite Rock sets cracking Alaska pace in first field seasonSPONSOREDwhite rock mineralsIn a recent presentation to investors, Ramelius chief executive Mark Zeptner described the company as significantly undervalued. Central to his argument...Read More
Specialist mining investors have found a "buyer's market" for projects as the mining sector struggles to compete for funding with new industries, multiple industry executives said at a conference this week.Smaller mines and developers who previously found capital through retail investors in public markets are increasingly turning to specialist investors such as private equity or companies that see...Read More