Last year felt like apivot point in U.S. history. The pandemic and election left the nationideologically divided.There seem to be onlythree resolutions going forward.America will face anincreasingly authoritarian federal government ruling over a largely apatheticpopulace, the nation will splinter, or leadership will emerge which is somehowcapable of bridging the ideological divide between the Amer...Read More
Gold is suffering a hang-over afterit’s early January highs, while the EUR/USD pair is buckling - so when golddeclines, where will its bottom be?After injecting itself with JanetYellen’s stimulus sentiment, gold came down from its highs on Friday (Jan. 22).And like the GDX ETF, it’s important toput gold’s recent run into context. For starters, gold is stilltrading below its...Read More
Here are five Fastmarkets stories you might have missed on Thursday January 28 that are worth another look.Rio Tinto has created a new executive team and organizational structure to strengthen its environmental, social and corporate governance (ESG) credentials and rebuild trust, "particularly in Australia", following the destruction...Read More
Italian stainless steel producer Acciai Speciali Terni (AST) is attempting to unilaterally and retroactively apply price increases to already-concluded supply contracts agreed with distribution companies, market sources told Fastmarkets on Thursday January 28. A distributor in Denmark that buys from AST, among other stainless steel producers, said AST had made it aware of its intention to apply a...Read More
European steelmakers have pushed up their domestic prices for hot-rolled coil, but buyers were holding back from making new deals, sources told Fastmarkets on Thursday January 28.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?711.00 ($862.20) per tonne on Thursday, up by ?,?2.25 per tonne from ?,?708.75 per tonne on January 27.This was a rebound...Read More
The price of tin on the London Metal Exchange rose to a new 2021 high on Thursday January 28, while the rest of the base-metals complex showed mixed results at the 5pm close.Zinc, notably, was holding its ground after a 2.7% decline on Wednesday, but the prices of nickel and aluminium drifted lower.Tin's continued rise on Thursday led it to a new year-to-date high of $23,075 per tonne during the d...Read More
Here are five Fastmarkets stories you might have missed on Thursday January 28 that are worth another look.Rio Tinto has created a new executive team and organizational structure to strengthen its environmental, social and corporate governance (ESG) credentials and rebuild trust, "particularly in Australia", following the destruction...Read More
The European titanium scrap market, which was steady in the week to Wednesday January 27, looks set to resume its price rally that started in September 2020 in the near term, market sources told Fastmarkets. Fastmarkets' titanium scrap turnings, unprocessed type 90/6/4, 0.5% Sn max, cif Europe price stood at $1.60-1.75 per lb in the latest assessment on Wednesday, while titanium scrap tu...Read More
The price of tin on the London Metal Exchange rose to a new 2021 high on Thursday January 28, while the rest of the base-metals complex showed mixed results at the 5pm close.Zinc, notably, was holding its ground after a 2.7% decline on Wednesday, but the prices of nickel and aluminium drifted lower.Tin's continued rise on Thursday led it to a new year-to-date high of $23,075 per tonne during the d...Read More
Iron ore prices fell on Thursday January 28, with weak mill margins and expected crude steel production cuts weighing on market sentiment, sources told Fastmarkets Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $157.42 per tonne, down $9.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $158 per tonne, down $8.65 per tonne58% Fe fines high-grade premium, cfr Qingdao: $143.81 pe...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part weaker this morning, Thursday January 28, after market sentiment across the board has turned more cautious. Asian-Pacific equities and major western pre-market equity index futures were weaker this morningUS Dollar Index firmed on Wednesday while equities sold-offBase metals There were more fallers...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.It was only a couple of months ago that contract buyers of coated steels - represented in large part by market participants from the automotive sector - were grudgingly resigned to paying as much as ?,?100 ($120) per tonne more for their contracted shipments in 2021 compared with in 2020. Increases in contract prices of...Read More
Mixed sentiment as trading has slowed from previous weeks. Polished inventory increasing after strong Dec.-Jan. rough buying. High expectations for China retail recovery during Chinese New Year. US Jan. consumer confidence +3%, boosted by stimulus package, says Conference Board. Concerns due to rising Covid-19 infections, 6.7% unemployment, and slow vaccine rollout. US jewelry trade -2.2% in 4Q to...Read More
RAPAPORT... Swiss watch exports continued to recover in December as robust Chinese demand helped offset declines in other countries.Global shipments fell 2.5% year on year to CHF 1.72 billion ($1.93 billion) for the month, the mildest drop since the beginning of 2020, the Federation of the Swiss Watch Industry reported Thursday.Exports to China soared 45% to CHF 306.6 million ($344.6 million). How...Read More
RAPAPORT... De Beers has reduced its 2021 production plan for a second time, citing operational issues at mines, even as diamond demand looks strong at the start of the year.The company expects to recover 32 million to 34 million carats this year, compared with a previous outlook of 33 million to 35 million carats, parent company Anglo American said Thursday."Ongoing operational challenges" a...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.Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key themes – OPEC+ production, Covid-19 developments, and the energy transition.Following...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 New York Harbor Product Storage report is the first of its kind and relies on the same highly calibrated infrared camera, aerial diagnostic and proprietary technologies we use to measure and deliver our industry standard Cush...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.Rising stocks of concentrate, high treatment charges and difficulties in selling less desirable qualities of concentrate was expected to result in mine production losses over the next few years. But coronavirus has changed this dynami...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.Different markets, different cycles. Mining companies suffered for their sins in the downturn a little earlier than the oil and gas sector. Now they are emerging into a new upturn, also ahead of the game. What challenges do...Read More
Key data from the pricing session in London on Wednesday January 27.Key drivers The European ferro-tungsten market recovered in the first half of the week following the sharp downward moves of the past few weeks, with sellers starting to refuse lower bids. The market had been on a downtrend for the past two weeks with prices dropping by almost 8% amid profit taking and expectations of mo...Read More