Gold stocks and physical gold can present disadvantages. A study of the real (inflation-adjusted) return on gold from 1802 to 2012 shows that it rose only 0.7 per cent a year.Limit your investment in gold. There are disadvantages to both bullion and stocks.Gold trades at about US$1,800 an ounce. This is less than the yellow metal's peak of over US$2,000 an ounce. That's because the price of gold i...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 23.Please click...Read More

Base metals prices on the London Metal Exchange continued to trade higher across the board during the day on Wednesday June 23. Prices across the complex followed their recent upward momentum during Wednesday's trading as a result of pacified market sentiment following the testimony given by Federal Reserve chairman Jerome Powell to Congress on Tuesday. "In his testimony, Powell's tone was relativ...Read More

Bob Moriarty ArchivesJun 23, 2021Beeple sold an NFT for $69 millionBrooklyn artist is selling audio clip of a FART for $89 to cash in on NFT cryptocurrency crazeNew Zealand houseplant sells for $19,200 in online bidding warItalian Artist Sells Invisible Sculpture For Real Money ($18,000)Iconic “Doge” meme breaks record, selling for $4 millionWhy Is Dogecoin Going Up? Dogecoin Reaches C...Read More

Here are five Fastmarkets stories you might have missed on Wednesday June 23 that are worth another look.Swedish special steel producer Ovako is to collaborate with carmaker Volvo Group, Hitachi ABB Power Grids, H2 Green Steel and Nel Hydrogen to invest in hydrogen production at Hofors in Sweden, it has been announced.Read More

China said this week it would sell 20,000 tonnes of copper, 50,000t of aluminium and 30,000t of zinc on July 5-6.It marks the country's first sale of reserves since 2010 and is part of a strategy to keep a lid on prices.Jefferies noted the magnitude of the initial sale was "relatively small" and said while this could dent prices near-term, long-term fundamentals remained positive and tipped prices...Read More

A three-week price rally for the ferro-chrome market in China sped up in the week to Tuesday June 22 on bullish market sentiment after leading producers in China initiated higher prices amid production uncertainty."Production has been greatly impacted amid the uncertainty brought by Inner Mongolia's energy controls and electricity supply shortage. This, together with sharply increased production c...Read More

The company's fifth sales cycle from June 7-22 delivered US$470 million in revenue.   The figures are provisional and subject to adjustment based on final completed sales.Read More

A summary of China's ores and alloys exports for May 2021.In brief China's silico-manganese export market was active due to a combination of strong demand and tight supply in the global silico-manganese market. APT exports in May dropped amid a slow overseas market. Overseas buyers were cautious in buying the material once the price reached $270 per...Read More

A summary of China's ores and alloys imports for May 2021.In brief May imports of ferro-chrome declined because buyers were less concerned about domestic supply after Inner Mongolia loosened its energy controls on high consuming companies in the second quarter. Manganese ore imports rose month on month with increased arrivals from...Read More

An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies and...Read More

Turkish steel producers have extended their absence in the deep-sea scrap market due to weak rebar sales, market participants told Fastmarkets on Wednesday June 23.Steelmakers have now been absent from the market since June 15, when two cargoes were sold into Turkey from the United States.A mill in the Marmara region bought both cargoes, comprising HMS 1&2 (80:20) at $500 and $501 per tonne, plus...Read More

Buyers in South Korea have been willing to pay higher prices for Japanese scrap recently, outbidding Chinese buyers, sources told Fastmarkets on Wednesday June 23.The South Korean market has been highly interested in higher-quality scrap from Japan in recent months amid high special steel demand and rising scrap intake at some basic oxygen furnaces (BOFs) due to carbon neutrality policie...Read More

Rebounds were under way in the base metals in London and Shanghai this morning, Wednesday June 23, but we will have to wait to see how the metalsreact to today's manufacturing purchasing managers index (PMI) data.To reassure the markets, United States Federal Reserve chairman Jerome Powell said: "We will not raise interest rates pre-emptively because we think employment is too high [or] because we...Read More

Australia-listed IGO Ltd is one step closer to forming a joint venture with Chinese lithium producer Tianqi Lithium after key regulatory requirements for the internal restructuring of the Australasian arm of the latter to proceed have been satisfied, IGO said on Tuesday June 22. In December 2020, both companies signed an initial investment agreement which saw Tianqi's wholly-owned subsidiary Tianq...Read More

Few things in this world fill me with more dread than I-95. Even though that highway stretches 1,908 miles along the Eastern Seaboard, there's just one 103-mile strip between Philadelphia and Baltimore that is my own personal hell at least once per year. On paper, that drive shouldn't take more than two hours. A quick glance at a map, and you'll find that short stretch of highway incredibly invi...Read More

Here are five Fastmarkets stories you might have missed on Wednesday June 23 that are worth another look.Swedish special steel producer Ovako is to collaborate with carmaker Volvo Group, Hitachi ABB Power Grids, H2 Green Steel and Nel Hydrogen to invest in hydrogen production at Hofors in Sweden, it has been announced.Read More

Domestic transaction prices for hot-rolled coil in Northern Europe went up on Wednesday June 23, driven by the continuing shortage of material, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,185.04 ($1,411.73) per tonne on Wednesday, up by ?,?30.04 from ?,?1,155.00 per tonne on June 22.The index was up by ?,?50.04...Read More

Hot-rolled coil prices in China's domestic market cruised higher on Wednesday June 23, with coking coal supply concerns actin as support and helping to stem the decline in steel futures prices.DomesticEastern China (Shanghai): 5,280-5,380 yuan ($814-830) per tonne, up by 10-70 yuan per tonne. The most-traded HRC contract on the Shanghai Futures Exchange climbed more than 1% to an intraday high of...Read More

US imports of standard steel welded wire mesh from Mexico are being or are likely to be sold at less than fair value, the Commerce Department said in a final determination on Wednesday June 23.The weighted-average dumping margin has been set at 110.42% for Deacero SAPI de CV and 23.04% for Aceromex SA de CV and all other exporters. Commerce had estimated those margins at 23.67-152.68% in its preli...Read More