China's hot-rolled coil prices weakened on Tuesday October 13, allowing some exporters to cover their short positions and take profits.DomesticEastern China (Shanghai): 3,920-3,940 yuan ($583-586) yuan per tonne, narrowing downward by 10 yuan per tonneSeveral Shanghai-based traders said trading activity had weakened there on Tuesday, which dampened prices slightly.One trader said it...Read More
On September 30, President Trump signed an executive order that would guarantee increased U.S. production of the 35 critical metals used for the military as well as critical industries such as fracking and electric cars.These minerals include rare earth minerals, most of which are currently imported from China. There are also other metals used in batteries such as cobalt and lithium.For 31 of thes...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 13 that are worth another look.The numbers of cases of Covid-19 infection have begun to grow once more across Europe, and Fastmarkets has heard the fears of various market participants about the consequences that any new restrictions or lockdowns could have for...Read More
We are altering the format of our Insights newsletter a bit to make it more useful for our members by focusing on the key emerging themes and findings that we have covered over the past week. INK Research produces about 10 or more written reports and blog posts a week, plus INK Chat entries. In addition, we publish 3 videos a day on INK Ultra Money during the week. We cover a lot of ground, and,...Read More
The domestic United Arab Emirates rebar price broke the steady streak held since mid-September this week after the low end of the range fell on weak demand, sources said on Tuesday October 13.Domestic rebar The country's biggest steel producer, Emirates Steel, continued to offer rebar at 1,936 dirhams ($527) per tonne ex-works for orders to be produced in October, stable since September 15. Fellow...Read More
Liberty Steel UK has started producing "green" rebar at its Rotherham mill, targeting domestic infrastructure projects, it said on Thursday October 8.The site has an electric arc furnace (EAF) and rolling mill that last week started to make what the company says is "sustainably produced" reinforcing bar that will be used to support concrete structures in major construction and infrastructure proje...Read More
The Turkish steel mills have purchased further deep-sea scrap material at firmer prices, market sources said on Tuesday October 13.A steel mill in the Izmir region booked a US cargo consisting of HMS 1&2 (80:20) at $285 per tonne and bonus at $295 per tonne cfr.The supplier did not wish to disclose the composition of the cargo when contacted.This compared with the previous US cargo sold on October...Read More
Seaborne iron ore prices buckled on Tuesday October 13, amid soaring port inventories in China and weakened demand for finished steel, according to trade sources.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $121.15 per tonne, down $3.08 per tonne62% Fe low-alumina fines, cfr Qingdao: $121.30 per tonne, down $3.14 per tonne58% Fe fines high-grade premium, cfr Qingdao: $112...Read More
The domestic United Arab Emirates rebar price broke the steady streak held since mid-September this week after the low end of the range fell on weak demand, sources said on Tuesday October 13.Domestic rebar The country's biggest steel producer, Emirates Steel, continued to offer rebar at 1,936 dirhams ($527) per tonne ex-works for orders to be produced in October, stable since September 15. Fellow...Read More
Traders in China have returned from the country's Golden Week holiday hungry for steel imports although there are significant gaps between bids and offers for major products, market participants have told Fastmarkets.Climbing Chinese steel prices, bullish sentiment over market conditions in the months ahead and production cuts in China's steelmaking hub of Tangshan are the main reasons given for C...Read More
Independent financial analyst Matt Badiali discusses precious metals royalty companies as investments. Back in the last bull market, the big trend was the "prospect generator" business model. In this market, that switched to royalty companies, led by some former prospect generators.The prospect generator model should allow companies to use less cash to generate projects, then bring in partners. I...Read More
Gregory Beischer, CEO of Millrock Resources, and geologist Gabriel Graf speak with Maurice Jackson of Proven and Probable about the company's exploration program at 64North in Alaska. Maurice Jackson: Joining us for a conversation is the CEO of Millrock Resources Inc. (MRO:TSX.V; MLRKF:OTCQB), Gregory Beischer, along with Gabriel Graf, who works as a consultant for Millrock Resources. Glad to be...Read More
Dundee Precious Metals reported preliminary Q3/20 production results at its two gold mines in Bulgaria and its complex copper concentrate smelter operation in Namibia. In a news release, Dundee Precious Metals Inc. (DPM:TSX), announced preliminary production results from both of its mines in Bulgaria and the Tsumeb smelter for the three and nine months ended September 30, 2020.The company advised...Read More
With the presidential election less than a month away, sector expert Michael Ballanger offers a forecast for the gold and silver markets. With a mere twenty-six days to the election of the "leader of the free world," of the richest, most powerful country in human history, financial markets are noticeably apprehensive as to outcome and understandably concerned with the reaction of the two deeply d...Read More
Liberty Steel UK has started producing "green" rebar at its Rotherham mill, targeting domestic infrastructure projects, it said on Thursday October 8.The site has an electric arc furnace (EAF) and rolling mill that last week started to make what the company says is "sustainably produced" reinforcing bar that will be used to support concrete structures in major construction and infrastructure proje...Read More
The numbers of cases of Covid-19 infection have begun to grow once more across Europe, and Fastmarkets has heard the fears of various market participants about the consequences that any new restrictions or lockdowns could have for the steel sector.Earlier this year, when the Covid-19 pandemic first took hold across Europe, many countries brought in strict nationwide lockdowns, which had the effect...Read More
Brazilian iron ore producer Vale will enter into a 50:50 joint venture with China-based Ningbo Zhoushan Port Co to double capacity at the Shulanghu port in the eastern Chinese city of Zhoushan, 290 kilometers south of Shanghai, it said on Friday October 9. Capital expenditure for the project, called West III, is estimated at 4.3 billion yuan ($633 million) to install a stockyard and loading berths...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 13 that are worth another look.The numbers of cases of Covid-19 infection have begun to grow once more across Europe, and Fastmarkets has heard the fears of various market participants about the consequences that any new restrictions or lockdowns could have for...Read More
Aluminium premiums in the United States and Europe fell in the week to Tuesday October 13, with a narrowing cash/three-month contango on the London Metal Exchange and a backwardation on the December/three-month spread incentivizing market participants to sell off metal.Narrow LME spreads bring Rotterdam premium down 10% week on week.US Midwest premium also drops on narrowing contango.Main Japanese...Read More
A shortage of chrome ore in India has caused domestic alloy prices to ratchet upward but has reduced export volumes, market participants told Fastmarkets on Tuesday October 13.But an expected resumption of ore production should induce Indian ferro-chrome producers to return to their traditional export markets, they added.India traditionally produces around 1.3-1.4 million tonnes per year of high-c...Read More