Here are five Fastmarkets stories you might have missed on Tuesday September 7 that are worth another look....Read More
Steel billet buyers in China have continued to make import purchases in recent days amid expectations that further domestic production cuts will be imposed at the start of next year, sources told Fastmarkets on Tuesday September 7.Major Chinese market participants received word on Monday that steel production cuts in the nation would be extended beyond December into early 2022. This led to a plung...Read More
LONDON, 23 August 2021 - Analysis and comment from BullionVault features in today's gold-price report from MarketWatch, the widely syndicated US financial news site.While the falling Dollar helped gold rally today, the metal has also hit "multi-week highs priced in Euros and Yen, and it's now 8% higher from August's flash crash in terms of the British Pound" says MarketWatch, quoting BullionVault....Read More
Will this September be one to remember in the markets? It is often characterized by rising volatility heading into the fall. September also often ushers in a period of seasonal strength for precious metals markets.U.S. stocks opened the month heading back up to record levels. Meanwhile, gold and silver traded with little fanfare. Prices bounced around quietly ahead of Friday’s big jobs repor...Read More
US home prices are surging, increasingly raising worries about inflation. Could gold follow houses? If so, why?Home price growth in the US has accelerated even further, reaching a new record. The S&P/Case-Shiller U.S. National Home Price Index rose from 255.3 in May to 260.9 in June, boosting the annual percentage gain from 16.8% to 18.1%, as the chart below shows. That’s the largest jum...Read More
Mexican light vehicle production decreased by 21.44% year on year in August, according to figures released by national statistics agency Inegi on Monday September 6. Vehicle output reached 237,040 units last month, compared with 301,739 in August 2020.The country's automotive output has been limited, with...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 7 that are worth another look....Read More
The European Union is considering imposing tariff-rate quotas on steel and aluminium exports to the United States in a bid to reach an agreement with the US on its plans to exempt the EU from its Section 232 measures, sources told Fastmarkets on Tuesday September 7.The US and EU are widely expected to reach an agreement by November 1 on an exemption from Section 232 for European steel an...Read More
China's exports of finished steel products fell by more than 10% month on month in August, preliminary Chinese customs data showed on Tuesday September 7. August exports: 5.05 million tonnes, down by 10.9% from July 2021, up by 37.4% from August 2020...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 7 that are worth another look....Read More
The European Union is considering imposing tariff-rate quotas on steel and aluminium exports to the United States in a bid to reach an agreement with the US on its plans to exempt the EU from its Section 232 measures, sources told Fastmarkets on Tuesday September 7.The US and EU are widely expected to reach an agreement by November 1 on an exemption from Section 232 for European steel an...Read More
Fastmarkets' price index for domestic steel hot-rolled coil in Northern Europe went down day on day on Tuesday September 7 with the outlook among buyers turning negative, Fastmarkets has heard.Buyers have been holding back from trading because they wanted to take time to monitor the price trend. They expected that volumes of coil products available in the spot market would increase due to poor dem...Read More
Zinc was the main exception to an otherwise falling London Metal Exchange complex on September 7, which was a day of very quiet trading conditions - just over 10,000 lots of copper were traded by 5pm. The three-month price of zinc was at $3,044 per tonne on Tuesday at the close, a 1.2% increase from Monday's price at the same time of $3,007.50 per tonne.It set an intraday high of $3,059 per tonne...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 7 that are worth another look....Read More
Zinc was the main exception to an otherwise falling London Metal Exchange complex on September 7, which was a day of very quiet trading conditions - just over 10,000 lots of copper were traded by 5pm. The three-month price of zinc was at $3,044 per tonne on Tuesday at the close, a 1.2% increase from Monday's price at the same time of $3,007.50 per tonne.It set an intraday high of $3,059 per tonne...Read More
Market participants told Fastmarkets on Tuesday September 7 that bauxite production in Guinea has been unaffected so far, despite a coup in the West African country.The coup began on Sunday September 5 when soldiers detained President Alpha Cond?(C), and then announced on state television that the government had been dissolved. Despite the political uncertainties, the operations of mining projects...Read More
Seaborne iron ore prices rebounded on Tuesday September 7, although buying activity remained sluggish for mainstream iron ore fines, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $137.97 per tonne, up by $5.59 per tonne62% Fe low-alumina fines, cfr Qingdao: $138.10 per tonne, up by $5.08 per tonne58% Fe fines high-grade premium, cfr Qingdao: $110.69 per tonne, up by $5.99 per...Read More
Excess supplies of rebar in Russia's Central Federal District around Moscow led to a decline in prices in the week to Monday September 6, after domestic producers that usually trade elsewhere redirected supplies to the country's key steel-consuming region.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 58,000-62,000 roubles ($795-850) per t...Read More
Nornickel on Monday September 6 issued the world's only financial investment backed by carbon neutral nickel.It will trade as part of Nornickel's Global Palladium Fund (GPF) portfolio on the Vienna stock exchange, Wiener B??rse.Nornickel began to supply carbon-neutral nickel in late June, 2021.Russia's Nornickel, the world's second largest nickel miner after Brazil's Vale SA, said the new inv...Read More
Australian mining company Nickel Mines has acquired 100% of the interest in the Siduarsi nickel-cobalt project in the Papua province of Indonesia, it said in a press release published on Thursday September 2.The Siduarsi site covers 16,470 hectares, with the highest individual grades of 2.07% nickel and 0.36% cobalt recorded across a 1-meter vertical channel sample.The project's potential was prom...Read More