Here are five Fastmarkets stories you might have missed on Wednesday March 3 that are worth another look.A crackdown on industrial activity in Tangshan, China's steelmaking hub, is sending jitters throughout the sector. Fastmarkets examines what it means for the steel industry.Glencore has appointed BMO...Read More
The strength of the economic recovery in China in 2020 defied the expectations of most market observers. According to estimates by Fastmarkets, apparent consumption in the country rose by 9% in 2020 compared with a 12% fall in the rest of the world.Crucially, this increase in supply was a response to a boom in steel demand in the East Asian nation. In the first quarter of 2020, demand (or real con...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 3.Please click...Read More
Domestic prices for hot-dipped galvanized coil in Europe increased again over the week to Wednesday March 3, due to a material shortage combined with healthy demand, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Northern Europe, was ?,?870-900 ($1,048-1,084) per tonne on March 3, up by ?,?20-30 per tonne week on week from ?,?...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 3 that are worth another look.A crackdown on industrial activity in Tangshan, China's steelmaking hub, is sending jitters throughout the sector. Fastmarkets examines what it means for the steel industry.Glencore has appointed BMO...Read More
A crackdown on industrial activity in Tangshan, China's steelmaking hub, is sending jitters throughout the sector. Fastmarkets examines what it means for the steel industry. Local authorities in the city issued a notice on the evening of Tuesday March 2 to say that it was embarking on a strict crackdown over March on industries that lag behind in terms of measures to lower emissions, with some act...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 3.Please click...Read More
Nickel's futures price on the London Metal Exchange plummeted by over 6% at the 5pm close on Wednesday March 3 following the news that Norilsk Nickel expects to stabilize flooding issues at two of its mines next week. The Russian company, the world's largest palladium and high-grade nickel producer, suspended operations at Oktyabrsky and Taimyrsky mines due to flooding from natural groundwater las...Read More
Seaborne premium hard coking coal prices in fob markets declined on Wednesday March 3 after buyers lowered their bid prices due to negative short-term sentiment. Fastmarkets indices Premium hard coking coal, fob DBCT: $124.68 per tonne, down $3.08 per tonne Premium hard coking coal, cfr Jingtang: $217.81 per tonne, up $0.50 per tonne Hard coking coal, fob DBCT: $117.66 per tonne, down $2.01 per to...Read More
Certain silver news stories circulating are misleading and are not actually evidence of a silver short squeeze but rather part of...Miguel Perez-Santalla interviewed on GoldCore TVWe're talking about the silver squeeze today with Miguel Perez-Santalla, the Head of Trading and Sales at Heraeus Metals, one of the worlds largest silver refining operations. Miguel's recent article expresses concern ab...Read More
The strength of the economic recovery in China in 2020 defied the expectations of most market observers. According to estimates by Fastmarkets, apparent consumption in the country rose by 9% in 2020 compared with a 12% fall in the rest of the world.Crucially, this increase in supply was a response to a boom in steel demand in the East Asian nation. In the first quarter of 2020, demand (or real con...Read More
The desperation is becoming more obvious by the day...by J. Johnson via JS MinesetGreat and Wonderful Tuesday Morning Folks, Late last night, I observed the hammer coming back to nail the precious metals lower. To me, the desperation is becoming more obvious by the day, as Gold reversed with the April contract at $1,725.50, up $2.50 after being dipped to $1,704.60 with the high to beat a...Read More
Goldman is raiding the SLV Inventories as they scramble for 1,000 oz. silver bars FOR DELIVERY ON THE COMEX!!by Bix Weir of Road to RootaGoldman Sachs has shown itself to be one of the criminal silver price manipulation conspirators! Jeff Currie of Goldman has now made "false and misleading statements" as an Authorized Participant in iShares SLV. Now Goldman is raiding the SLV Inventories as they...Read More
European producers of heavy steel plate increased their offer prices in the week to Wednesday March 3 following a rise in the cost of steel slab, sources have told Fastmarkets.Italian re-rollers have been offering plate at ?,?670-720 ($771-857) per tonne ex-works for April delivery products. These new prices, however, have not been heard in any confirmed transactions.As a result, Fastmarkets' week...Read More
Domestic prices in Europe for steel cold-rolled coil increased further over the week to Wednesday March 3 due to a material shortage, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe, was ?,?860-870 ($1,036-1,048) per tonne on March 3, up by ?,?10-20 per tonne week on week from ?,?840-860 per tonne.The assessment was based on achievabl...Read More
Nickel's futures price on the London Metal Exchange plummeted by over 6% at the 5pm close on Wednesday March 3 following the news that Norilsk Nickel expects to stabilize flooding issues at two of its mines next week. The Russian company, the world's largest palladium and high-grade nickel producer, suspended operations at Oktyabrsky and Taimyrsky mines due to flooding from natural groundwater las...Read More
Nornickel said it would review restarting two nickel and copper mines in the Polar Division on March 9, which were partially suspended on February 24 due to flooding, Fastmarkets understands.The amount of production lost at the Oktyabrsky and Taimyrsky mines, which reportedly account for more than one third of Nornickel's Russian ore, is unknown, but nickel prices on the London Metal Exchange dipp...Read More
Further deals for the supply of aluminium ingot to main Japanese ports (MJP) for the second quarter concluded on Wednesday March 3 at a premium of $148 per tonne cif MJP, market sources told Fastmarkets. The deals were agreed at a premium of $148 per tonne on top of the London Metal Exchange cash price, just below the level agreed in deals on Tuesday at $149 per tonne. Multiple market participants...Read More
RAPAPORT... India's gold-jewelry exports to the US have fallen over the past decade and a half following an erosion of the Asian country's preferential trade status, according to a report by industry leaders.Competitors in the Far East, Europe and the Middle East have captured market share from India since 2007, the Gem & Jewellery Export Promotion Council (GJEPC) said Tuesday. The shift...Read More
RAPAPORT... Sales of jewelry and other luxury items in Hong Kong slid again in January amid a fourth wave of the coronavirus and a later Lunar New Year.Revenue from jewelry, watches, clocks and other valuable gifts fell 32% year on year to HKD 3.37 billion ($434.3 million) during the month, the municipality's Census and Statistics Department reported Wednesday. Sales across all retail categories s...Read More