Joe Biden’s performancein Thursday night’s presidential debate was solid. The former vice presidentwas combative against Donald Trump and frequently had the billionaire USPresident on the defensive. Post-debate analysis centered around the questionof whether Trump, who is behind in the polls, did enough to convince votersthat taking a chance on Biden would not be in their best interest...Read More

Peter Krauth compares silver and bitcoin and explains why he believes investors should own both.At the risk of offending bitcoin or silver investors, I think this is a question worth asking.I have been researching and following these assets for some time. In my view, it's not an either-or dilemma. You should simply own both.I believe silver and bitcoin remain massively undervalued, and that the ma...Read More

The European Commission has set safeguard quota volumes for steel products imported from the United Kingdom starting from January 1, 2021. The EC announced the quotas on Friday October 30. These will apply to several steel products, including hot-rolled, cold-rolled and hot-dipped galvanizing coil originating from the UK. Any volumes sold exceeding the quotas will be subject to 25% duty. "Pur...Read More

A summary of Glencore's 2020 third-quarter production report for the coal sector, released on Friday October 30, where the company maintained its 2020 full-year production guidance except coal, which was adjusted for the extended strike at the Cerrejon mine.In brief The company's year-to-date (YTD) coal production of 83.5 million tonnes was 20.5 million tonnes or 20% lower than the comparable prio...Read More

The fifth plenary session of the 19th Central Committee of the Communist Party of China has concluded with the release of the 14th Five-Year Plan, which will chart China's development path in 2021-2025. More details of the country's Five-Year Plan are expected to be released from Friday October 30 onward. The session listed 12 key steps with which China would achieve a set of long-term goals by 20...Read More

Steel slab export prices from Brazil were unchanged in the week ended Friday October 30, but demand remained strong amid a steady performance by the flat steel markets.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, was $490-505 per tonne on Friday, unchanged from the previous week.Mills have mostly shifted to January-shipment offers, and they have been seeing de...Read More

Import prices for flat steel in South America showed few changes in the week ended Friday October 30, with buyers getting slightly higher offers from China amid strong demand for material in most of the region's markets.Most coil import prices have narrowed upward by $5-15 per tonne, or moved up a little, because past offers at lower values were no longer heard in the market during the week. But w...Read More

Turkish export rebar and wire rod prices continued to rise in the last week of October amid lively trading activity and limited availability, sources told Fastmarkets on Friday October 30.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $450-455 per tonne on Friday, up by $5 per tonne.Mills achieved sales at $445-450 per tonne fob ...Read More

Turkish domestic rebar prices continued to rise in the last week of October amid a continuing loss in the value of the country's lira against the US dollar, as well as an uptrend seen in recent import scrap bookings.The Turkish currency was trading at 8.31 lira to $1 on Friday. This compared with 7.89 lira to $1 on the corresponding day of last week.Meanwhile, the daily index for steel scrap, HMS...Read More

Ray Mennin has joined United States-based commodities trading company and agent Toroza as vice president, Fastmarkets learned.Mennin previously worked as an assistant portfolio manager...Read More

A potential ban on iron ore pellet exports by India would exacerbate an expected increase in competition for seaborne cargoes in Asia in the fourth quarter of this year, market participants told Fastmarkets this week.Sources said there has been talk in the market lately about a possible ban on shipments of iron ore products from India to China due to ongoing political tensions between the two nati...Read More

For years, the investment banks have talked about gold and silver as if you had to be a lunatic nut-wing to buy either of them. But now, a rapidly...Dave Kranzler with Chris Marcus of Arcadia EconomicsFor years, the investment banks have talked about gold and silver as if you had to be a lunatic nut-wing to buy either of them.But now, a rapidly growing group of investment banks, including GoldmanS...Read More

The three-month prices of all base metals on the London Metal Exchange had fallen by the close of trading on Friday October 30, with aluminium being the only exception.Leading the pack, the three-month nickel price lost 2.6% to close at $15,150 per tonne after seeing turnover of a little more than 10,475 lots.The LME three-month copper price lost 0.5% to close at $6,707.50...Read More

The London Metal Exchange will finalize the last stage in the relaxation of its queue-based rent capping (QBRC) rule on Sunday November 1, when the rule moves to 80 days full rent.The threshold has been extended under a phased implementation over the past nine months. It began on February 1, 2020, when the rule moved to 50 days full rent, from the original rule of 30 days full rent and 20 days hal...Read More

Seaborne premium hard coking coal prices edged up on Friday October 30 after a transaction of premium hard coking coal was done at a price slightly higher than yesterday, sources said, adding that the fob market had gained some support.Fastmarkets indicesPremium hard coking coal, fob DBCT: $107.94 per tonne, up $0.20 per tonne Premium hard coking coal, cfr Jingtang: $135.80 per tonne, up $0.54 per...Read More

Global steel scrap prices have risen or remained firm over the week to Friday October 10, following a strong purchasing trend across all markets.Turkey continues to book large volumes of cargoes.US prices up on both coastsTaiwanese buyers look for domestic supplyVietnam looks toward US-origin cargoesIndia prices firm on tight supply.TurkeyTurkish steel mills have booked as many as 10 bulk cargoes...Read More

Flat steel prices in the Turkish market remained mostly stable during the week to Friday October 30, while demand was moderate because of the Republic Day holiday on October 28-29, sources told Fastmarkets.Demand was moderate this week because there were only three-and-a-half working days due to the Republic Day holiday in the afternoon on October 28 and all day on October 29, while buyers were wa...Read More

The benchmark A380.1 secondary aluminium alloy price climbed again in the week to Thursday October 29 to reach its highest point in nearly 22 months, while aluminium scrap prices in the United States also edged up amid sluggish inbound volumes and sustained demand.Fastmarkets' price assessment for aluminium alloy A380.1, delivered Midwest rose for the twelfth week in a row on October 29, gaining 2...Read More

Strong domestic demand for galvanized steel boosted the third-quarter results of Nexa Resources, the Brazilian base metals producer said.There is enough domestic demand for zinc to keep Nexa's smelters running at full capacity, Nexa Resources chief executive officer Tito Martins said during an earnings call on Friday October 30."If I had more metal today, I would be selling more," Martins told Fas...Read More

The three-month prices of all base metals on the London Metal Exchange had fallen by the close of trading on Friday October 30, with aluminium being the only exception.Leading the pack, the three-month nickel price lost 2.6% to close at $15,150 per tonne after seeing turnover of a little more than 10,475 lots.The LME three-month copper price lost 0.5% to close at $6,707.50...Read More