Turkish steelmakers continued to stay back from the deep-sea scrap markets because of falling prices and increasing supply, market sources said on Thursday March 11.Two Turkish steelmakers booked US cargoes last Saturday and late on Monday at $453-456 per tonne cfr on an HMS 1&2 (80:20) basis, sending the daily scrap indices down by $5.79 per tonne on March 9.But booking activity did not continue,...Read More
Momentum has faded in the Japanese steel scrap export market following six straight weeks of increases, with buyers stepping away from closing sales, sources told Fastmarkets this week.Japan scrap export prices fell over the last week in the markets for H2 heavy scrap and Shindachi busheling, while tags for shredded and heavy scrap or plate and structural (P&S) material remained more stable.Fastma...Read More
Share this article OTTAWA - Global demand for critical minerals is increasing to support the transition to a low emissions global economy. Canada can leverage its mining and processing expertise and world leading environmental, social and governance credentials, and become the global supplier of choice for clean and advanced technologies.Canada's Minister of Natural Resources, Seamus O'Regan Jr.,...Read More
Share this article NexGen Energy Ltd. [NXE-TSX, NYSE American] closed its previously announced bought deal financing. Pursuant to the Offering, the company issued 33.4 million common shares of the company at a price of $4.50 per common share for gross proceeds of approximately $150-million. NexGen has granted the Underwriters a 30-day option to purchase up to an additional 5,010,000 common shares...Read More
Key data from the Wednesday March 10 pricing session in London and Shanghai.Key drivers Cobalt hydroxide payables edged slightly lower in the first half of this week with consumers either on the sidelines, wary of recent turns in the downstream...Read More
Oprah Winfrey interviewed the duke and duchess of Sussex.And people went nuts.Why?I'm not really sure.I don't really follow "royal family" news. Although, quite frankly, I'm surprised so many people in this country do.After all, historically speaking, we don't tend to be particularly bullish on monarchs. Even if they really don't have any bite to their bark, just the optics of this stuff don't rea...Read More
The whispering has begun, dear reader.Hushed murmurs that oil is once again making a run to $100 per barrel. I daresay it's been a while since those rumors have circulated around the campfire.Of course, things were much different when crude prices were last trading in triple-digit territory.The last time WTI prices were that high was in June 2014, and the veteran members of our investment communit...Read More
Here are five Fastmarkets stories you might have missed on Thursday March 11 that are worth another look.Europe's proposed Carbon Border Adjustment Mechanism (CBAM) has been approved by a firm majority in the European Parliament and is expected to help to preserve the region's steel supply chain, industry...Read More
Latin American apparent steel consumption rose 15.87% year on year during December, while full-year 2020 figures fell 9.57% from 2019, the region's steel association, Alacero, said on Thursday March 11.Rolled steel consumption reached 6.03 million tonnes in December, up from 5.2 million tonnes a year before, according to the data published by Alacero. During 2020 as a whole, consumption totaled 58...Read More
Domestic prices for hot-dipped galvanized coil in Europe increased again over the week to Wednesday March 10, due to a material shortage combined with good demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Northern Europe was ?,?890-900 ($1,061-1,073) per tonne on March 10, compared with ?,?870-900 per tonne a week earlier.The...Read More
Here are five Fastmarkets stories you might have missed on Thursday March 11 that are worth another look.Europe's proposed Carbon Border Adjustment Mechanism (CBAM) has been approved by a firm majority in the European Parliament and is expected to help to preserve the region's steel supply chain, industry...Read More
Europe's proposed Carbon Border Adjustment Mechanism (CBAM) has been approved by a firm majority in the European Parliament and is expected to help to preserve the region's steel supply chain, industry association Eurofer has said.On Wednesday March 10, the European Parliament voted on the CBAM resolution, prior to a legislative proposal expected to be published by the European Commission (EC) in...Read More
Demand for steel billet and rebar in Egypt has been very weak over the past seven days, with prices unchanged, and with market participants now asking for the country's construction ban to be removed, sources told Fastmarkets on Thursday March 11.Construction permits have been limited in Egypt since May 2020, with a small number of permits issued in September.But the current permits were not enoug...Read More
Small and medium-size recycling companies would lose their ability to hedge if the London Metal Exchange changes its margin methodology, an executive at metal recycling company European Metal Recycling (EMR) said. According to Murat Bayram, EMR managing director for non-ferrous Europe, the proposed change from a Discounted Contingent Variation Margin (DCVM), which realizes forward profits on the s...Read More
Turkish steelmakers continued to stay back from the deep-sea scrap markets because of falling prices and increasing supply, market sources said on Thursday March 11.Two Turkish steelmakers booked US cargoes last Saturday and late on Monday at $453-456 per tonne cfr on an HMS 1&2 (80:20) basis, sending the daily scrap indices down by $5.79 per tonne on March 9.But booking activity did not continue,...Read More
Momentum has faded in the Japanese steel scrap export market following six straight weeks of increases, with buyers stepping away from closing sales, sources told Fastmarkets this week.Japan scrap export prices fell over the last week in the markets for H2 heavy scrap and Shindachi busheling, while tags for shredded and heavy scrap or plate and structural (P&S) material remained more stable.Fastma...Read More
News that GameStop is looking to digitize its stores has driven the stock up to January levels, but Gareth Soloway, chief market strategist said that on a technical basis, the stock looks overbought.0:00?EUR< - GameStop stock rises back5:37?EUR< - S&P 500 action7:10?EUR< - Tesla stock8:33?EUR< - GDX mining index11:05?EUR< - Live charting gameRead More
At Gold's 2011 peak, the stock market's valuation was historically average or cheap compared to the previous 20 years. Now it is near a major peak, again. Typically, Gold outperforms stocks after valuation peaks in stocks, which is where the market is headed. The trigger will be a breakout in inflation. The 2011 peak in Gold also occurred after 12 years of annual gains in big runs in nominal and r...Read More
Professional Trader Nick Santiago has been predicting $1700/oz gold. In this interview, Nick shares how he is currently trading gold and gold equities. Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He successfully managed money for a large, affluent private client group. Nick is an expert in Technical Analysis. He is a highly re...Read More
0:00?EUR< - Intro0:32?EUR< - A Twenty Point Model4:43?EUR< - Possible Fed Actions8:45?EUR< - Bond Market Risks13:30?EUR< - Yield Control Now!15:19?EUR< - Bubbles Everywhere16:46?EUR< - Gamestop & System Fragility18:17?EUR< - Portfolio Weighting Gold22:25?EUR< - His Market Position24:48?EUR< - Governments & Crypto29:22?EUR< - Volatility & Inflation30:30?EUR< - Wrap UpTom welcomes Michael Pento of P...Read More