Key data from Fastmarkets' pricing session in Europe on Wednesday November 18.Key drivers The ferro-titanium spot price in Europe increased, marking 13 weeks of persistent increases in line with scrap tightness and renewed demand from consumers in the steel sector.Suppliers reported deals done, or heard, for more than 500 tonnes of standard-grade ferro-titanium for prompt shipment, with a couple o...Read More
Rising demand for steel scrap in the Japanese domestic market was inflating export prices for the material, market participants told Fastmarkets on Wednesday November 18.Export deals for Japanese H2 scrap to South Korea were concluded at ?30,500 ($292) per tonne fob late last week, including one transaction for 40,000 tonnes of material.Vietnamese buyers purchased H2 at $328 per tonne cfr late la...Read More
The metals were looking robust this morning, Wednesday November 18, and for the most part are managing to drive higher despite concerns about the rapid spread of Covid-19 and some mixed economic data of late.Asian Pacific equities were mixed this morning, as were major western equity indices on Tuesday......but major western equity indices are weaker this morning, suggesting some concern about the...Read More
Argentina is in a strong position to exploit its potential in the expanding lithium industry, due to the amount of lithium available, the easy access to those resources, and the support of local authorities.The opinion came from Gilberto Antoniazzi, chief financial officer of Livent Corp, during a panel discussion for the Lithium in South America conference held online on Wednesday November 18.But...Read More
Have you ever heard of California's first millionaire?I'd say there's a good chance you've never even heard his name before today, yet what we can learn from Samuel Brannan can give individual investors like us an advantage during Biden's administration.Samuel Brannan settled in California in the mid-19th century. Not only did he establish the first newspaper in San Francisco, but he helped launch...Read More
Japan's Panasonic has teamed up with Norwegian aluminium producer Norsk Hydro and Norway's state-owned oil major Equinor to look into developing a sustainable battery business in Norway.The three organizations have signed a Memorandum of Understanding (MoU) to carry out a feasibility study, the companies said in a joint statement on Wednesday November 18. According to the agreement, the companies...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 18 that are worth another look.China will remove its prohibition on the "processing trade" for 136 steel products from December 1, 2020, the country's Ministry of Commerce (MOC) said last week.Alba chief...Read More
Domestic prices for hot-rolled coil in Europe increased again in the week to Wednesday November 18, due to tight supplies, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?537.92 ($638.24) per tonne on Wednesday, up by ?,?8.34 per tonne from ?,?529.58 per tonne on Tuesday.The index was also up by ?,?13.42 per tonne week on...Read More
China will remove its prohibition on the "processing trade" for 136 steel products from December 1, 2020, the country's Ministry of Commerce (MOC) said last week. This means steel mills and other factories in the downstream supply chain need not pay import duties on imported steel substrate materials that will later be processed into downstream products meant for re-export.The 136 steel products i...Read More
Prices for hollow steel sections in Europe remained unchanged over the past week, despite the continuing feedstock shortage, sources told Fastmarkets on Wednesday November 18.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?640-660 ($759-783) per tonne on Wednesday, flat week on week.The price of the feedstock material, hot-rolled coil, has mov...Read More
The price range for steel H-beams in Europe narrowed upward over the past week, with producers' ambitions for further increases supported by a rise in feedstock costs, sources told Fastmarkets on Wednesday November 18.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?550-570 ($653-676) per tonne on Wednesday, up from ?,?540-570 per tonne one week bef...Read More
Producers of steel mesh-quality wire rod in the north of Europe achieved higher prices in the week to Wednesday November 18, with their offer prices backed by long lead times and an uptrend in the international scrap trade, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, increased to ?,?490-500 ($581-593) pe...Read More
Turkish steel mills have remained out of the market for a third consecutive day this week although offer prices have now moved higher than in previous deals, sources told Fastmarkets on Wednesday November 18.Turkish steel mills extended their silence in the deep sea scrap market for a third day, but offer prices were reported to have jumped in anticipation of the next purchases....Read More
Jordan Roy-Byrne, Founder of The Daily Gold joins me to first focus on the continued downtrend in precious metals stocks. As close as this correction could be to being over this week is reminding us that the stocks have yet to bottom. We also compare the weakness in the US dollar and bond market to the metals and overall mentality of investors.Jordan Roy-Byrne, CMT is a Chartered Market Technician...Read More
The 100-day and 50-day moving averages for gold have just crossed following months of a consistent differential, and this pattern is indicative of a "sharp drop" down in the gold price, said Gary Wagner, editor of the GoldForecast.com.0:00 - Death Cross5:13 - Gold vs VIX7:04 - Gold vs U.S. dollar8:45 - Gold vs inflation13:03 - TradesGary Wagner has been a technical market analyst for 25 years. A f...Read More
As Washington borrows and spends to keep the pandemic lockdown from turning into a Greater Depression, federal government debt is approaching the same percentage of GDP as during WW II. Continue...Read More
Gregory Mannarino started his career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. After realizing that working on Wall Street was not like the movies, he moved on to get a medical degree and practiced medicine as a Physician Assistant. He also served in the United States Naval Reserve Medical Service Corps, having attained the rank of Lieute...Read More
China does not have to boom, all they need do is decline less than that of the west. This Great Reset is the self-destruction of Western society. We have already witnessed the most drastic decline in GDP Continue...Read More
Just as Gov Andrew Cuomo was patronizingly explaining to reporters during Wednesday's press briefing that NYC had not yet reached the 3% positivity-rate threshold to close schoolsContinue...Read More
Rising demand for steel scrap in the Japanese domestic market was inflating export prices for the material, market participants told Fastmarkets on Wednesday November 18.Export deals for Japanese H2 scrap to South Korea were concluded at ?30,500 ($292) per tonne fob late last week, including one transaction for 40,000 tonnes of material.Vietnamese buyers purchased H2 at $328 per tonne cfr late la...Read More