Norway-based silicon and ferro-silicon producer Elkem has opened a new production workshop in Shanghai, China to manufacture specialized silicones for hybrid and electric vehicles (EVs), the company said on Wednesday November 2. Silicones are high-performance polymers made up of silicon, oxygen and other elements that can include carbon and hydrogen. They are used in the assembly, electrical integ...Read More
Swiss miner-trader Glencore and Chinese battery materials producer GEM have extended their agreement for cobalt hydroxide supply by another five years. The extended deal means Glencore will supply GEM with about 150,000 tonnes of cobalt, contained in hydroxide, between 2020 and 2029. The two companies first signed a contract in October last year, under which Glencore would supply GEM and its subsi...Read More
Turkish steel producers continued their deep-sea scrap bookings at escalating prices despite weakening demand in the finished steel markets, sources said on Thursday December 3. A steel mill in northern Turkey booked a Baltic Sea cargo - comprising 15,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap, 15,000 tonnes of shredded and 3,000 tonnes of bonus - at average price of $365 per to...Read More
Small and medium-sized steel mills in Bangladesh have been forced to re-enter the market for scrap at high prices, market participants said on Thursday December 3.The price paid for scrap imported to the South Asian country continued to mount over the last week with supply tightened on both rising international scrap demand and soaring ocean freight costs, Fastmarkets heard."Bangladeshi buyers hav...Read More
The recent surge in copper prices might not lead to swathes of scrap being suddenly released into the market, as happened after a similar situation nearly a decade ago, sources told Fastmarkets this week. With the copper price recently reaching a multi-year high, all eyes are on whether scrap collectors will release a massive amount of secondary material into the rising market. In 2...Read More
Anglo Pacific is poised to transform into a battery materials company next year and will make a number of transactions to achieve this, its chief executive officer said.Julien Treger said that the company - which has a portfolio of royalties and metal streams in mainly coal, iron ore and uranium - plans to focus its attention on lithium and cobalt, key raw materials used in the production of batte...Read More
Coal-fired power is waltzing with the grim reaper.Nuclear power will never get beyond the regulatory purgatory that keeps it from expanding any further in the U.S.And even the internal combustion engine is gearing up for extinction.Certainly these claims may upset some folks, but honestly, I'm not here to make you like me. I'm just here to make you money.And that's why I'm writing this article to...Read More
South Korean battery maker LG Chem, one of the leading suppliers of batteries for electric vehicles (EVs), announced on Tuesday December 1 the launch of wholly owned subsidiary LG Energy Solution, intended to develop the group's battery-related business.LG Chem closed its original battery business division and formally set up LG Energy Solution to better develop the battery side of the the group's...Read More
Norway-based silicon and ferro-silicon producer Elkem has opened a new production workshop in Shanghai, China to manufacture specialized silicones for hybrid and electric vehicles (EVs), the company said on Wednesday November 2. Silicones are high-performance polymers made up of silicon, oxygen and other elements that can include carbon and hydrogen. They are used in the assembly, electrical integ...Read More
Swiss miner-trader Glencore and Chinese battery materials producer GEM have extended their agreement for cobalt hydroxide supply by another five years. The extended deal means Glencore will supply GEM with about 150,000 tonnes of cobalt, contained in hydroxide, between 2020 and 2029. The two companies first signed a contract in October last year, under which Glencore would supply GEM and its subsi...Read More
The domestic price for hot-rolled coil in Northern Europe moved up again day-on-day on Thursday December 3 due to a materials shortage in the market, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?570.00 ($688.49) per tonne on Thursday, up by ?,?4.23 per tonne from ?,?565.77 per tonne on December 2.The index was up by ?,?...Read More
China's hot-rolled coil prices retreated from the previous day's 26-month high on Thursday December 3, which motivated some mills to accept lower export prices. Domestic Eastern China (Shanghai): 4,270-4,280 yuan ($651-652) per tonne, down 10-20 yuan per tonne Several Shanghai-based traders said trading activity weakened on Thursday, with some buyers reluctant to restock because of losses on the f...Read More
Steel billet and rebar prices increased in Egypt over the week to Thursday December 3 although demand was weak, sources told Fastmarkets.Demand for rebar and billet has been slow in the country since the imposition of a construction ban on May 25, however, the rules of the ban were eased on September 29.Buying was reportedly still weak because...Read More
Turkish domestic long steel prices have continued to strengthen on rising imported scrap costs, but overall demand was limited, sources said on Thursday December 3.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 4,900-5,030 lira ($625-641) per tonne on Thursday, up from the 4,800-4,850 lira per tonne of last week.The mills in the Izmir region were...Read More
Turkish rebar and wire rod export prices have continued to increase despite softening demand over the past week, sources said on Thursday December 3.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $530-535 per tonne on Thursday, up from last week's $500-515 per tonne on an actual weight basis.Turkish steel producers raised their offers to $...Read More
Turkish steel producers continued their deep-sea scrap bookings at escalating prices despite weakening demand in the finished steel markets, sources said on Thursday December 3. A steel mill in northern Turkey booked a Baltic Sea cargo - comprising 15,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap, 15,000 tonnes of shredded and 3,000 tonnes of bonus - at average price of $365 per to...Read More
Government measures of inflation are not properly adjusted to include assets like real estate, said economic writer Mish Shedlock.Shedlock notes that what really drives gold prices is the decline of confidence in the central banks.0:00 - Main drivers of gold8:10 - Monetary policy and gold12:44 - Definition of inflation15:47 - Housing bubbleMike "Mish" Shedlock is a registered investment advisor an...Read More
MacroVoices Erik Townsend and Patrick Ceresna welcome Jeff Snider to the show to revisit his dollar-bullish Eurodollar thesis, and consider where the market could be headed from here, and whether or not this week's move invalidates his prior views.Jeff Snider is head of global investment research for Alhambra Investment Partners, a registered investment advisory based in Palmetto Bay, Florida. As...Read More
The data is 100% in agreement: All studies show a clinical benefit for use of Ivermectin. It works as a pre-exposure prophylaxis, post exposure prophylaxis, and when given to both early and late hospitalized patients. As importantly, one study shows a profound improvement in the symptoms for the "long haul" Covid sufferers, for which no other treatments seem to have worked. If you think you've bee...Read More
Jim Rickards speaking at the Virtual Gold Conference on November 25, 2020 shares what happened in the last great depression and how even in the darkest of times money can still be made. In his new book The New Great Depression, James pulls back the curtain to reveal the true risks to our financial system and what savvy investors can do to survive - even prosper - during a time of unrivalled turbul...Read More