China's cold-rolled coil (CRC) export market was active in the past week despite the possibility of export rebate cuts, while hot-dipped galvanized coil (HDG) export activity was limited, market sources told Fastmarkets.Cold-rolled coilFastmarkets' weekly price assessment for steel cold-rolled coil, export, fob China main port was $805-810 per tonne on Tuesday March 16, up by $5-15 per tonne from...Read More

The Federal Reserve has announced that the Fed Funds rate will remain low until at least 2023. Both gold and the equity markets rallied in response to Fed Chair Jerome Powell's dovishness, but can the turnaround in prices last? Gary Wagner, editor of TheGoldForecast.com analyzes the next key price levels.0:00?EUR< - Fed's outlook on economy4:15?EUR< - Inflation7:27?EUR< - Yields10:15?EUR< - Anothe...Read More

Gold rose on Wednesday, hitting their highs of the day following the Federal Reserve's decision.Continue...Read More

ArcelorMittal has launched three new initiatives that will help it meet its net zero commitment, including a $100 million per year investment fund to develop technology that will support and accelerate the transition to net zero carbon steelmaking, the company said on Wednesday March 17. Innovation fund The company aims to deliver on its net zero commitment by 2050 and the $100 million per year "X...Read More

British Steel will invest ?100 million ($139 million) this year in improving its manufacturing operations and supporting clean growth, the company said on Wednesday March 17. The money will help to finance projects including a new billet caster, a scrap pre-heating facility, cranes and a new environmental emission control system. The steelmaker has returned to profit after being bought out o...Read More

Sales of passenger cars in the EU dropped by 19.34% year on year in February 2021, the European Automotive Manufacturers Association (ACEA) said on Wednesday March 17.New car sales in the EU totaled 771,486 vehicles in February 2021, down from 956,430 units sold in the corresponding month of 2020."New passenger car registrations in the European Union dropped by 19.3% while Covid containment...Read More

Dow breaks its streak of seven day record highs.Import and export prices rise.Home building prices rise.Expansive tax hikes coming on income.NFT mania moves to virtual sneakers.I lost $4,000 HODLing my tweet.Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro...Read More

Here are five Fastmarkets stories you might have missed on Wednesday March 17 that are worth another look.The volume of Southeast Asian steel billet available to importers across Asia is on the rise following new capacity upgrades at key suppliers in Indonesia and Vietnam, sources told Fastmarkets.Treatment charges (TCs)...Read More

Domestic prices for steel hot-dipped galvanized coil in Europe moved up again over the week to Wednesday March 17, due to a material shortage combined with strong demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Northern Europe, was ?,?900-930 ($1,073-1,108) per tonne on March 17, up by ?,?10-30 per tonne week on week from ?,...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 17.Please click...Read More

Italian re-rollers have achieved a price rise in the domestic market for their heavy steel plate, due to the higher cost of steel slab feedstock, sources told Fastmarkets on Wednesday March 17.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?665-680 ($793-810) per tonne on March 17, up by ?,?10-15 per tonne from ?,?650-670 per tonne a week earlier....Read More

Here are five Fastmarkets stories you might have missed on Wednesday March 17 that are worth another look.The volume of Southeast Asian steel billet available to importers across Asia is on the rise following new capacity upgrades at key suppliers in Indonesia and Vietnam, sources told Fastmarkets.Treatment charges (TCs)...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 17.Please click...Read More

The price of aluminium on the London Metal Exchange reached a new year-to-date high during trading on Wednesday March 17 at $2,246.50 per tonne, and tin's price had gone up by more than $700 per tonne at the close.The wider markets were awaiting direction from the a meeting later in the day of the Federal Open Market Committee (FOMC) of the US Federal Reserve Bank.Tin's three-month price was $25,7...Read More

One day, it's all going to matter...by J. Johnson via JS MinesetGreat and Wonderful Tuesday Morning Folks, Gold is still in the green with the April contract at $1,732.20, up $3 and close to the high of $1,736 with the low at $1,724.40. Silver is giving the sell signal, with the trade at $26.155, down 13.3 cents and trading right by the low at $26.065 with the high at $26.405. The US D...Read More

Iron ore prices were slightly weaker on Wednesday March 17 amid limited trading activity, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $166.19 per tonne, down $0.13 per tonne62% Fe low-alumina fines, cfr Qingdao: $166.27 per tonne, down $0.13 per tonne58% Fe fines high-grade premium, cfr Qingdao: $151.99 per tonne, down $0.73 per tonne65% Fe Brazil-origin fines,...Read More

RAPAPORT... US polished-diamond imports were flat year on year at $1.43 billion in January, reflecting an easing of the industry's slowdown that dominated 2020. The month was the first since February 2020 that didn't feature a notable year-on-year decline, according to Rapaport archives based on data from the US Commerce Department.US Trade Data for January 2021  Read More

RAPAPORT... US retail sales faltered in February as winter storms impacted consumers' ability to shop, the National Retail Federation (NRF) said.Revenues slipped 3% versus January's total, with major snowstorms hitting the country's northeast, and ice storms in the south cutting power in many locations, according to data the US Census Bureau reported Tuesday. Government stimulus checks, increased...Read More

Domestic prices for steel hot-rolled coil in Europe increased again over the week to Wednesday March 17, due to a shortage of material combined with solid demand, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?791.25 ($943.04) per tonne on Wednesday, down by just ?,?1.25 per tonne from ?,?792.50 per tonne on March 16...Read More

(IDEX Online) - A trader has been arrested on suspicion of diverting duty-free gold worth almost $14m back into India's domestic market.Preet Kumar Agarwal is accused of re-directing 250kg of gold after it had been formally cleared by airport Customs officers for export, thus evading tax. He was arrested last Thursday under the Prevention of Money Laundering Act.India's Enforcement...Read More