Indian domestic hot-rolled coil prices have corrected by about 1,500 rupees ($20) per tonne after incentives were offered by steel mills to distributors in the face of poor demand for HRC.Fastmarkets' price assessment for steel HRC, domestic ex-warehouse India was 67,000-69,000 rupees ($899-926)per tonne on July 2, down from last week's 68,500-70,500 rupees per tonne. "Price support has been offer...Read More

Hot-dipped galvanized and pre-painted galvanized coil prices decreased in Turkey during the week to Friday July 2, with demand weakening ahead of national holidays, sources told Fastmarkets.Market participants expect reduced market activity in the second half of July because of the national holidays taking place on July 15, which is Democracy Day in Turkey, and July 19-24 for the Ei al-Adha holida...Read More

Domestic prices for hot-rolled coil in Northern Europe slipped further on Friday July 2 following a slowdown in trading, sources told Fastmarkets.Buyers opted to limit purchases while assessing the market trend. Long lead times from domestic producers, sufficient stocks among buyers for the next couple of months, and exhausted credit lines as a result of high prices for finished steel, have all co...Read More

Hot-rolled and cold-rolled coil prices decreased in Turkey during the week ending Friday July 2 before the long holiday starts in the country on July 15, sources told Fastmarkets.July 15 is Democracy Day in Turkey and July 19-24 will be the Ei al-Adha holiday, so market participants expect reduced activity in the second half of July.Low priced sales from Russia to several destinations during the w...Read More

SKS Business Services: How to outsource finance function servicesSPONSOREDsks business servicesSaturn set to ring in further gold potentialSPONSOREDsaturn metalsAuteco brings A-game to Pickle CrowSPONSOREDauteco mineralsKingwest heralds new dawn for MenziesSPONSOREDkingwest resourcesThe central component of Castillo's campaign was funding improvements in health, education and other basic services...Read More

Indian authorities have extended anti-dumping duties for both hot-rolled and cold-rolled flat steel products from certain countries until December 15 of this year, according to two notifications published by the Indian ministry of finance on Tuesday June 29. The duties for hot-rolled steel apply to hot-rolled flat products of alloy or non-alloy steel originating in or exported from China, Jap...Read More

SKS Business Services: How to outsource finance function servicesSPONSOREDsks business servicesSaturn set to ring in further gold potentialSPONSOREDsaturn metalsAuteco brings A-game to Pickle CrowSPONSOREDauteco mineralsKingwest heralds new dawn for MenziesSPONSOREDkingwest resourcesCovering an area of around 266km, the new licence is home to the historic Josva copper mine, which featured reported...Read More

Look beyond market approach to project valuations: van ZylLeadershipSKS Business Services: How to outsource finance function servicesSPONSOREDsks business servicesSaturn set to ring in further gold potentialSPONSOREDsaturn metalsAuteco brings A-game to Pickle CrowSPONSOREDauteco mineralsTesoro's stock rose from below 2c in February 2020, after it was backdoor listed via a tech shell, and peaked at...Read More

Sothern completed a US$12.5 million payment to the nation relating to the transfer of the project. Southern was awarded Michiquillay after offering $400 million and 3% in royalties to the government.Read More

Domestic steel rebar prices in Poland were broadly flat in the week to Friday July 2, with local mills being largely sold out for July rolling and mulling new rises for August, sources have told Fastmarkets.Major domestic rebar producers in Poland were reported to have no July volumes remaining.Demand in the local market continued to be strong, despite rebar prices being at historic highs, driven...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade.Index futures moved higher following release of economic news at 8:30 AM EDT. Consensus for June Non-farm Payrolls was an increase to 700,000 from 559,000 in May. Actual was 850,000. Consensus for June Unemployment Rate was a drop to 5.6% from 5.8% in May. Actual was an increase to 5.9%....Read More

The export market for pig iron from the Commonwealth of Independent States was muted during the week to Thursday July 1 because both buyers and suppliers preferred to wait for the result of Russia's export duties on supply to become clearer. Fastmarkets assessed the price of high-manganese pig iron, export, fob main port Black Sea, CIS at $610-630 per tonne on Thursday, narrowing downward fro...Read More

European Metal Recycling (EMR) is to transform its dock operations in Scotland with a multi-million-pound development that will make it more competitive and reduce carbon emissions, the company announced on Monday June 28.The 11.5-acre site at Berth 10 of the West Quay at Glasgow's King George V dock will be EMR's most innovative deep-sea dock in the UK, allowing the company to transfer material i...Read More

Turkish deep-sea scrap import prices fell at the end of the week after a fresh cargo from the Baltic Sea came to light, market participants told Fastmarkets on Friday July 2.A steel mill in the Izmir region booked the Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $495 per tonne and 5,000 tonnes of bonus at $510 per tonne cfr, late on Thursday July 1.This was fourth the deep-sea...Read More

Prices for shredded steel scrap imported into India and Pakistan rose in the week to Friday July 2, with trading activity focusing on the Pakistan market over India. In the Pakistan imported scrap market, sellers achieved higher shredded prices this week following solid rebar sales. Fastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $539.51 per...Read More

Gold's recent selloff looked familiar in that it resembled the types of gold selloffs that occurred when the Fed talked about tightening its loose policy for years in the mid-2010s.It sure talked a good game. But, when it came time to really test how much tightening the debt-saturated economy could handle, by late 2018, the Powell Fed folded like a cheap suit.In fact, the Fed not only felt compell...Read More

The United Kingdom market for inter-merchant light iron scrap was steady for the second consecutive week to Friday July 2, with relatively low availability and firm demand from steelmakers supporting prices.UK scrap generation, which has been recovering heavy losses from 2020 when heavy industry was affected by Covid-related restrictions, is set to drop again this summer due to cuts in car manufac...Read More

1: The stock market is deliriously overvalued by history's standards…2: Investors fully acknowledge 1…3: Investors continue to pile into the stock market despite 1.Conclude the gentlemen and ladies of Bespoke Investments:"Investors simultaneously think the market is overvalued but likely to keep climbing."Natixis Investment Managers adds that wealthier Americans - those with a minimum...Read More

China's Wuxi Stainless Steel Exchange will launch trading of its new battery-grade lithium carbonate contract on Monday July 5. The contract will be the first of its kind to be launched by a Chinese exchange for the battery raw material, the exchange has announced.The front-month Wuxi contract for physically delivered lithium carbonate will be October 2021, putting the guiding opening price at 88...Read More

Iron ore prices dropped on Friday July 2 on depressed market sentiment and a possible crude steel output cut in several areas which could weaken demand for iron ore, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $217.98 per tonne, down $1.34 per tonne62% Fe low-alumina fines, cfr Qingdao: $219.57 per tonne, down $2.18 per tonne58% Fe fines high-grade premium, cfr Qingdao: $...Read More