Several Bangladeshi steelmakers have exited the market for imports of steel scrap in recent days, piling further pressure on already-weakening prices, market participants told Fastmarkets on Thursday September 24.No deep-sea bulk imports have been booked into Bangladesh over the past week, while deals for material in containers were closed at lower prices than in the previous week."I think Banglad...Read More
Turkish steel producers have continued their silence in the deep-sea scrap markets in hopes of pushing prices downward, sources told Fastmarkets on Thursday September 24.The country's steelmakers have been staying away from the deep-sea scrap market since September 9, when bookings were made at $301 per tonne cfr for HMS 1&2 (80:20).Although some US and Baltic Sea...Read More
Base metals prices on the London Metal Exchange were down across the board this morning, Thursday September 24, while risk-off gathered pace on concerns that the Covid-19 pandemic is spreading aggressively again. US central bankers also warned on Wednesday that the US economy remained in a "deep hole" of joblessness and weak demand. Base metals prices on the LME are all dropping from high ground,...Read More
Share this article Tesla Motors Ltd. [TSLA-NASDAQ] CEO Elon Musk has outlined improvements the company has made in its battery manufacturing capabilities and said he doesn't want to be constrained by the availability of key battery ingredients such as nickel."I actually spoke with the CEO's of the major mining companies of the world and asked them to please make more nickel," said Musk during a...Read More
(Updates prices, changes comment, dateline; previous LONDON) * U.S. labor market slowing as fiscal stimulus fades * Oil dips as frail demand outlook offsets U.S. stock fall * COVID-19 Global Tracker: By Rodrigo CamposNEW YORK, Sept 24 (Reuters) - An index of stocks across theglobe fell on Thursday and the dollar rose for a fifth sessionrunning on lingering concern about another economic hit from t...Read More
Share this article If you are an investor in resource stocks, then the first and a half months of 2020 have been very kind to you, especially so if your portfolio has been over-weighted to the gold/silver sector.I don't know the exact numbers, but I'm pretty sure that other than the high flying technology sector, the gold/silver sector has been the top performing market segment so far this year...Read More
Lithium market participants and observers have generally reacted positively to US electric vehicle maker Tesla's recent announcements because they support the view that demand for the metal is likely to soar in the medium term, sources have said.But sources surveyed by Fastmarkets have cast doubts on the potential of the new lithium extraction process announced by the company during its Battery Da...Read More
We learned from Ron Thiessen, President and CEO of Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE American: NAK) that they own one of the world's largest, undeveloped, copper and gold resources, called the Pebble Project in Alaska. Pebble is one of the greatest stores of mineral wealth ever discovered, with a current resource estimate of 6.5 billion tonnes, in the measured and indicated categories...Read More
$9.1 billion...This is the combined value of the treatment market for Alzheimer's disease and Parkinson's disease: two diseases that wreaked havoc on my grandmother and great-grandmother.I'm not going to lie: Watching my loved ones suffer from these horrible diseases was not easy.And in fact, one of the reasons I'm often investing in the biotech space is because I want to be a part of any potentia...Read More
The initial public offering (IPO) by Chinese battery materials producer CNGR Advanced Materials Co Ltd has been approved, according to a document filed to the Shenzhen Stock Exchange on Wednesday September 23. CNGR has been given the greenlight to be listed on the second-board market and the company plans to sell up to 56.97 million shares to domestic investors. The battery materials producer expe...Read More
Indian steel mills have held back their offers of hot-rolled coil for export shipments in November because the fob value of the bids they have received has fallen to less than $500 per tonne, Fastmarkets heard on Thursday September 24."Currently, [Indian] mills are neither issuing offers for HRC exports nor responding to bids," one market participant said.Bids for HRC exports received this week by...Read More
In my Wednesday interview with Jim Goddard, I continue to make the case for caution on precious metals stocks as we head into the US presidential debates. I reference recent insider selling and the big move of the gold/silver ratio as indicators of concern. In the second segment, I discuss innovation and improvisation as an investment theme as we work our way through the pandemic.In the final sec...Read More
Reduced availability of hot-rolled coil in Europe from both mills within the region and from overseas suppliers has been supporting domestic prices, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?487.81 ($569.82) per tonne on Thursday September 24, up by just ?,?0.20 per tonne from ?,?487.61 per tonne on Wednesday.Th...Read More
Imported billet prices in Egypt fell this week because of lower offers in the market, while local rebar prices remained unchanged, sources told Fastmarkets on Thursday, September 24.However, no bookings have been heard over the past seven days due to weak end-user demand.Demand has been hit by a slowdown in construction activity stemming from the government's building ban...Read More
Turkish domestic rebar and wire rod prices increased in the week to Thursday September 24 due to a weakening lira, with demand still only limited, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 4,100-4,120 lira ($534-536) per tonne, including 18% VAT, on Thursday September 24, up from 4,000-4,010 lira per tonne last week.S...Read More
Turkish export prices for long steel products have softened over the past week due to falling scrap values and sluggish demand, sources said on Thursday September 24.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $455-460 per tonne on Thursday, compared with the $455-465 per tonne of last week.The country's steelmakers lowered their offers...Read More
Several Bangladeshi steelmakers have exited the market for imports of steel scrap in recent days, piling further pressure on already-weakening prices, market participants told Fastmarkets on Thursday September 24.No deep-sea bulk imports have been booked into Bangladesh over the past week, while deals for material in containers were closed at lower prices than in the previous week."I think Banglad...Read More
Turkish steel producers have continued their silence in the deep-sea scrap markets in hopes of pushing prices downward, sources told Fastmarkets on Thursday September 24.The country's steelmakers have been staying away from the deep-sea scrap market since September 9, when bookings were made at $301 per tonne cfr for HMS 1&2 (80:20).Although some US and Baltic Sea...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.We do not consider the average iron ore fines price for September so far above $125 per tonne cfr Qingdao to be sustainable. The bullishness is not likely to last in the long term as we expect Chinese demand growth to slow down. A key factor boosting Chinese steel demand so far has been the stimulus policies from the authori...Read More
Best-selling author Robert Kiyosaki outlines a scenario of a gold and Bitcoin crash, but says it might be based on an illusion of an economic recovery."When the (COVID) vaccine appears and happy days are here again, the real problem has always been and remains the economy, the central banks, the repo market, central banks and U.S. Treasuries," the author of 'Rich Dad, Poor Dad' tells our Daniela C...Read More