Cobalt prices came under pressure across the supply chain in June, facing weak seasonal demand while still finding a balance in light of upstream supply increases and changing Chinese consumption habits. Price moves In June, buyers returned to the hand-to-mouth style procurement seen in the first quarter, in anticipation of weaker prices materializing over the summer. As a result, prices came unde...Read More
The Tuesday Market Minute U.S. equity futures are set for modest opening bell as global stocks continue to grind higher following the weekend trade truce between Washington and Beijing.Risk sentiment remains cautious, however, as a brewing trade dispute over aircraft subsides threatens a fresh tariff spat between the U.S. and Europe and global factory output sinks to its lowest level s...Read More
Turkish steel mills continued their deep-sea purchases of scrap cargoes for August shipments, with prices rising further, sources said on Tuesday July 2.A steel mill in the Iskenderun region booked a Baltic Sea cargo late on July 1, comprising 29,000 tonnes of HMS 1&2 (80:20) at $297.50 per tonne and 6,000 tonnes of bonus at $307.50 per tonne cfr.The same mill booked a...Read More
A deal struck between the European Union and South America's Mercosur trading group will boost trade between the two blocs in non-ferrous metals and related products, Fastmarkets heard on Tuesday July 2.The agreement must now be ratified by both sides, but it is intended to phase out all EU duties charged on industrial goods, including metals and metal items, over a period of 10 years.In return, t...Read More
Optimism that the resumption of US-China trade talks meant a trade deal was once again on the agenda led to a relief rally in base metals prices in early trading on Monday July 1, but disappointing manufacturing purchasing managers' index (PMI) data across most regions has led to the gains being reversed.Manufacturing PMI data for Japan, China, Australia, Taiwan, South Korea, Mexico, the EU and JP...Read More
Cobalt prices came under pressure across the supply chain in June, facing weak seasonal demand while still finding a balance in light of upstream supply increases and changing Chinese consumption habits. Price moves In June, buyers returned to the hand-to-mouth style procurement seen in the first quarter, in anticipation of weaker prices materializing over the summer. As a result, prices came unde...Read More
Cobalt hydroxide payables came under continued pressure in June, hitting new lows for 2019, even as the underlying benchmark price for cobalt metal surrendered the gains made over April and May. The metal and intermediates markets have continued to move independently of one another amid a surplus and greater competition for sales of the latter, and weaker demand from the Chinese battery sector. "P...Read More
It's been years since Obama said he would put coal companies out of business. Since then, Wall Street has ignored coal-producing stocks, making it the most undervalued sector in the market.It's true - coal production did go down during the Obama presidency. But since Trump was put in office, that has turned around.Don't get me wrong; the U.S. isn't burning more coal - it's exporting it, both to Ch...Read More
The price paid for flat steel products imported in the United Arab Emirates (UAE) and Saudi Arabia increased over the past week, while demand for materials was limited, sources said on Tuesday July 2.The increase in price for steelmaking raw materials is one of the reasons for higher prices in the steel rebar market this week.Fastmarkets' daily index for Northern Europe-origin HMS 1&2 (80:20) was...Read More
Thank you for joining us in a weekly technical look at the mid-cap-oriented INK Canadian Insider (CIN) Index. The INK Canadian Insider Index tried to push higher and generate its 4th weekly gain in a row but could not move above 1125 resistance. In the end, the Index pulled back a modest 8.11 points to close at 1117.04.MACD fell 5 points to 0.7. RSI retraced 10.76 points to 57.13. A sustained mov...Read More
Alithya Group (ALYA) has an amibitious game plan to grow through acquisition and consolidating a fragmented IT industry. Find out more by watching our video summary of the June 28th INK morning report (distributed to Canadian Insider Club members). INK Research and Canadian Insider are both subscriber-supported. We do not accept payments from issuers or promoters for stock coverage.Your browse...Read More
Chinese cold rolled coil and hot-dipped galvanized coil (HDG) export prices rose during the week to Tuesday July 2 on bullish market sentiment following output cuts in China's steelmaking hub of Tangshan, while demand remained weak in multiple import markets.The price of Chinese CRC and HDG had tracked gains in the upstream Chinese hot-rolled coil market over the pricing week.Fastmarkets MB's dail...Read More
China's hot-rolled coil prices plunged on Tuesday July 2 after Tangshan's local government eased up on steelmaking restrictions in the region announced just a week earlier.DomesticEastern China (Shanghai): 3,920-3,930 yuan ($569-572) per tonne, down 80-90 yuan per tonneNorthern China (Tianjin): 3,880-3,890 yuan per tonne, down 40-50 yuan per tonneA futures trader in Shanghai said that many market...Read More
Prices for imported and domestic rebar in the United Arab Emirates have increased over the past seven days, but demand was still weak, sources said on Tuesday July 2.The reason for the higher prices for rebar was increases in the prices for raw materials.Fastmarkets' daily index for Northern Europe-origin HMS 1&2 (80:20) scrap was calculated at $292.09 per tonne cfr on July 1, compared with $273.8...Read More
China's domestic rebar prices retreated on Tuesday July 2 after Tangshan eased its steelmaking restrictions for July.Domestic Eastern China (Shanghai): 4,000-4,030 yuan ($584-588) per tonne, down 30-40 yuan per tonneNorthern China (Beijing): 3,950-3,980 yuan per tonne, narrowed downward by 10 yuan per tonneChina's steel production hub in the northern region released a notice on Tuesday detailing l...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebar, wire rodRebar East China, domestic, grade III 16-25mm...Read More
Turkish steel mills continued their deep-sea purchases of scrap cargoes for August shipments, with prices rising further, sources said on Tuesday July 2.A steel mill in the Iskenderun region booked a Baltic Sea cargo late on July 1, comprising 29,000 tonnes of HMS 1&2 (80:20) at $297.50 per tonne and 6,000 tonnes of bonus at $307.50 per tonne cfr.The same mill booked a...Read More
Seaborne iron ore prices continued to rise on Tuesday July 2, amid persistently tight supply and news about an easing of the restrictions on steel production in China.MB 62% Fe Iron Ore Index: $125.77 per tonne cfr China, up by $2.12 per tonneMB 62% Fe Iron Ore Index-Low Alumina: $126.24 per tonne cfr China, up by $0.48 per tonneMB 58% Fe Premium Index: $115.04 per tonne, up by $1.37 per tonneMB 6...Read More
It has been over half a year since the seaborne iron ore market got itself a new tool to manage price risks associated with exposure to the high-grade segment.And going by the performance of the Singapore Exchange's (SGX) 65% Fe iron ore futures contract so far this year, it is serving its purpose.On average, more than a million tonnes worth of the contract have been traded every month since its D...Read More
August Gold pulled a Pearl Harbor on bears and skeptics Tuesday, reversing early morning weakness with a surprisingly sharp rally. I'd expected another two weeks of corrective action myself after bullion's impressive run-up in June. However, the chart shows the futures to be bound most immediately for at least 1446.90. If so, that would be a new recovery high and an encouraging sign that even b...Read More