China's Tsingshan Holding Group has signed a one-year contract to supply nickel matte to Huayou Cobalt Co and CNGR Advanced Material Co, the stainless steel producer announced via its WeChat account on Wednesday March 3.Under the agreement, Tsingshan, which is China's largest producer of stainless steel, will supply 60,000 tonnes of nickel matte to Huayou and 40,000 tonnes to CNGR within a year, s...Read More
Share this article Pure Gold Mining Inc. [TSXV-PGM; LSE-PUR] provided an update on commissioning and ramp-up activities at its high-grade PureGold Mine in Red Lake, northwestern Ontario.Since pouring first gold in December 2020, commissioning at the mine has transitioned to full scale ramp-up of mining and milling operations with approximately 260 persons employed at the mine site.Performance has...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
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 Texas power grid crisis wasn't an anomaly.It was a giant red flag wildly waving back and forth, warning us all of the state of the U.S. power grid.I'm not suggesting that power plants across the country will suddenly freeze and cause national blackouts. As I mentioned last week, Texas failed to winterize its power plants back in 2011 and way back in 1989 when similar deep freezes occurred.No,...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
Tata Steel Europe has announced that its chief commercial officer, chief technical officer and executive director of human resources will depart the company without being replaced.Karl Heider, CCO, and Ernst Hoogenes, CTO, will depart at the end of March while Tor Farquhar, the third...Read More
Prices for steel hollow sections in Europe held steady week on week on Wednesday March 3, while mills are looking to pass on increasing feedstock costs to customers, sources told Fastmarkets. Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?860-880 ($1,035-1,059) per tonne on Wednesday, unchanged on the previous assessment. Fastmarkets' wee...Read More
The steel mesh-quality wire rod price in southern Europe was broadly stable in the week to Wednesday, despite local producers' push for increases on higher scrap prices, sources told Fastmarkets on March 3.Fastmarkets assessed the weekly price for steel wire rod (mesh-quality), domestic, delivered Southern Europe at ?,?650-670 ($783-807) per tonne on Wednesday, unchanged from the preceding week.It...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
The Turkish steel mills have continued to hold back from deep-sea scrap purchasing activity and kept their focus on steel sales, market participants told Fastmarkets on Wednesday March 3.The latest transaction was recorded late on February 26, when a steel mill in the Marmara region paid $456 per tonne cfr for Baltic Sea-origin HMS 1&2 (80:20), which raised the daily scrap index for US-origin mate...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 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
China's domestic rebar prices increased sharply on Wednesday March 3 on market participants' expectations of lower production rates during the National People's Congress and the Chinese Political Consultative Conference - two separate sessions - from March 4.DomesticEastern China (Shanghai): 4,740-4,780 yuan ($733-749) per tonne, up by 130 yuan per tonneSteel mills around Beijing, such as Tangshan...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda...Read More
We are joined on Metal Money by Gareth Soloway, President & CFO of InTheMoneyStocks.com. There is no escape from the Fed's record money printing. Inflation will keep rising. Such an environment is bullish for safe-haven assets like gold and silver. Gareth Soloway's InTheMoneyStocks.com: https://inthemoneystocks.com?EUR< Read More
Chris Vermeulen has been involved in the markets since 1997 and is the founder of Technical Traders Ltd. He is an internationally recognized technical analyst, trader, and is the author of the book: 7 Steps to Win With Logic.Read More
Link to video I mentioned that explains dollar funding markets further: https://youtu.be/XAAdwhxzhE8?EUR
President Biden's "American Rescue Plan" includes new stimulus payments, unemployment spending and funds for COVID-19 vaccinations, but it will add significantly to the US debt. Rick Sanchez examines the growth of the US debt spending from 1977 until the present. Projected to exceed 78 trillion in 2028, what will exploding US debt mean for the future of the US and its economy? "Boom Bust" co-host...Read More
The "honeymoon" phase of the stock market bull run is coming to a close, and as yields head even higher, stock indices could see a correction on the scale of 10-15%, said Gareth Soloway, chief market strategist of InTheMoneyStocks.com.0:00?EUR< - Stock market valuations5:10?EUR< - Stocks vs. yields8:29?EUR< - Tech stocks fundamentals11:28?EUR< - Kraft Heinz13:29?EUR< - What happens to stocks now?1...Read More