Here are five Fastmarkets stories you might have missed on Tuesday June 2 that are worth another look.The Canadian International Trade Tribunal (CITT) has initiated an inquiry as to whether imports of heavy steel plate from four nations and the island of Taiwan cause injury to domestic producers.Konkola Copper Mines (KCM) has signed a provisional power supply agreement with Zambian state-owned uti...Read More

A summary of base metals premiums from across the globe for the week to Tuesday June 2.Read More

Ferrous scrap prices in Mexico were stable or down in the steelmaking regions of Bajio and Monterrey during the week to Tuesday June 2 due to currency moves and the weak performance of the steel sector.At least two steel plants in the Baj?-o region announced a cut of 100 pesos ($4.50) per tonne in scrap values, which was reflected in lower prices for most grades assessed by Fastmarkets.Fastmarkets...Read More

Atlantic Nickel's Santa Rita mine in Brazil is on track to ramp up to 105,000 tonnes by the end of 2020 and has seen strong market demand for sulfide concentrate throughout the Covid-19 pandemic, its owner said. According to Appian Capital Advisory LLP, the mine has produced over 30,000 tonnes of nickel concentrate to date and has successfully completed its second and third shipments ahead of the...Read More

Ricky Wen, ElliottWaveTrader Monday's session was an inside day within a potential inside week/high-level consolidation context. Basically, the regular trading hours (RTH) session was confined to a 3059-3027 range on the Emini S&P 500 (ES), which is about 1%. In addition, as you may be aware by now, the average range per day has been narrowing for the past few weeks due to this methodical grind...Read More

According to its recently published March and April statements of account --https://www.bis.org/banking/balsheet/statofacc200331.pdfhttps://www.bis.org/banking/balsheet/statofacc200430.pdf-- the Bank for International Settlements, which acts as an agent for most central banks, appears to have made little change in its use of gold swaps. The BIS is estimated to have increased its position in gold...Read More

Richard (Rick) Mills, Ahead of the herdPrecious metals are loving the uncertainty the coronavirus has created. Despite limited successes some countries have had with reopening, the virus is nowhere near contained. As of this writing, close to 6 million worldwide are infected and 365,328 have died. The important columns in the table below from the heavily visited Worldometer's coronavirus page,...Read More

By: Ira EpsteinGold is back and forth short-term, does not have a trend at the moment. Caught in the volatility bands..Read More

Gold and silver will remain firm on developments in USA. Copper is on the verge of a big technical breakout. Crude oil is bullish. OPEC has decided to continue with production cuts. If India had faced a similar mass arson then global leaders would have condemned India with "secularism is at risk" slogan. The arsonists would have been divided between religion, caste and creed. USA's NATO allies a...Read More

Here are five Fastmarkets stories you might have missed on Tuesday June 2 that are worth another look.The Canadian International Trade Tribunal (CITT) has initiated an inquiry as to whether imports of heavy steel plate from four nations and the island of Taiwan cause injury to domestic producers.Konkola Copper Mines (KCM) has signed a provisional power supply agreement with Zambian state-owned uti...Read More

Seaborne and portside manganese ore prices for low- and high-grade material in China declined in May, despite previous expectations that prices would rise, driven by tightening supplies from South Africa and falling port inventories. Strict Covid-19 restrictions in South Africa were expected to have a significant impact on deliveries, resulting in fewer deliveries to Chinese ports and putting upwa...Read More

The London Metal Exchange three-month lead price was the standout performer at the close on Tuesday June 2 on continued optimism over easing pandemic concerns, while continued unrest in the United States did little to cap upward price action across the complex.LME lead's outright price closed at $1,719.50 per tonne on Tuesday afternoon in a 2.5% rally that pushed the price to its highest settlemen...Read More

Chinese buyers say they are no longer looking to import aluminium, with the fading arbitrage potential ending what was an unusual and profitable trade. The arbitrage for bringing aluminium into China reopened for the first time since 2016 on May 6, with a marginal profit of $4.22 per tonne, according to Fastmarkets' calculations. It widened to $61.82 per tonne on May 20 before slipping to a loss f...Read More

Seaborne premium hard coking coal cfr China price rose on Tuesday June 2 after a transaction was signed at $120 per tonne, while prices for other segments remained relatively flat. Fastmarkets indices Premium hard coking coal, fob DBCT: $108.97 per tonne, down $0.05 per tonne Premium hard coking coal, cfr Jingtang: $116.88 per tonne, up $0.95 per tonne Hard coking coal, fob DBCT: $89.57 per tonne,...Read More

In the charts matter right now, silver just filled its gap...IN ONE SINGLE DAY!(by Half Dollar) Here's a little somethin' for all of the chart huggers out there.Silver gapped-up at Sunday evening's open:I was looking for more of a gap-up.Here's why.That said, whenever an underlying gaps-up, or gaps-down, what is common is what is called "filling the gap".In other words, to continue on with the tre...Read More

It seems things have been falling into place. It would be surprising if things further falling into place don't include sharply higher silver prices...by Ted Butler of Butler Research via Silver SeekOne wants to be careful about seeing things as previously predicted, but not so careful so as to not recognize when things seem to be playing out exactly as expected. Recent news stories and events see...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Ferrous scrap consumption rates of Chinese integrated mills appear to have declined this year on a per-tonne basis. This year has seen the ratio of pig iron to steel output tighten, leaving increasingly less room for scrap consumption. Over the first four months of 2020, the pig iron-to-steel ratio has been above the pr...Read More

The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices are on the increase in June. As far as this market is concerned, it appears as though the Covid-19 pandemic has had little impact so far, with prices on the most common grades of stainless steel just 2-4% lower than they were at the turn of the year in most markets.Even in Asia, a region often talked ab...Read More

Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.The most important driver of the zinc market in 2020 will be the performance of the world’s zinc smelting industry, according to Wood Mackenzie.The easing of trade tensions between the US and China, the struggling manufacturing...Read More

Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Read More