Europe could produce enough battery cells to meet the needs of its captive electric vehicle (EV) industry and could even be in a position to export batteries by 2025, according to the vice-president of the European Commission.Maros Sefcovic, told delegates at the European Conference on Batteries - held online on Tuesday November 24 - that the European Battery Alliance (EBA) aimed to create a globa...Read More
A climate-friendly president is heading to Washington, and it's hard not to be bullish on clean energy.In fact, Biden's original plan for a clean energy revolution sought to reach net-zero emissions no later than 2050.Ambitious? Yes.Realistic? Well, that's a debate we'll save for later.We're talking about an incoming commander in chief who has openly called climate change an existential threat to...Read More
Europe could produce enough battery cells to meet the needs of its captive electric vehicle (EV) industry and could even be in a position to export batteries by 2025, according to the vice-president of the European Commission.Maros Sefcovic, told delegates at the European Conference on Batteries - held online on Tuesday November 24 - that the European Battery Alliance (EBA) aimed to create a globa...Read More
Italian re-rollers had to increase their official offer prices for heavy steel plate over the week to Wednesday November 25 due to a sharp rise in imported slab costs, sources have told Fastmarkets.Official offers for domestic heavy plate in Italy were heard at ?,?540-550 ($641-653) per tonne ex-works, about ?,?40-50 per tonne higher than the offers heard in the market."Italy now is [expecting to...Read More
Domestic prices for hot-rolled coil in Europe moved up again in the week to Wednesday November 25, due to a materials shortage, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?550.45 ($653.19) per tonne on Wednesday, up by ?,?5.40 per tonne day on day from ?,?545.05 per tonne on Tuesday.The index was up by ?,?12.53 pe...Read More
Spot market inventory levels for most major steel products in China fell at an even more rapid pace in mid-November than the first 10 days of the months, while that at member mills of the China Iron & Steel Association (Cisa) declined further, according to data released by the body on Wednesday November 25.November 11-20 outputCrude steel: 2.11 million tonnes per day, down 1.53%Finished steel: 2.0...Read More
Iskenderun Demir Celik (Isdemir), a subsidiary of Turkey's biggest steel producing group Erdemir Group, has started planned maintenance at its blast furnace no 2. The maintenance will last 44 days starting from Tuesday November 24 and is not expected to have a major effect on the company's output, Isdemir said. Isdemir produces steel billet, slab, wire rod and hot-rolled coil at its facility in Is...Read More
Prices for hollow steel sections in Europe moved up this week following a continued rise in feedstock costs and a lack of imports, sources told Fastmarkets on Wednesday November 25.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?660-680 ($783-807) per tonne on Wednesday, up from ?,?640-660 per tonne one week previous.The availability of hot rol...Read More
The price for steel H-beams in Europe moved up this week when producers' ambitions for price increases were supported by a recent rise in feedstock costs, sources told Fastmarkets on Wednesday November 25.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?550-580 ($653-688) per tonne on Wednesday, up from ?,?550-570 per tonne one week before.A more re...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 25 that are worth another look.Russian steelmaker Metalloinvest, which is the largest global supplier of hot-briquetted iron (HBI), may increase its shipments of the material by 10% by early 2023.Global copper scrap metal suppliers are now hesitant to...Read More
Turkish steel mills resumed their deep-sea scrap purchases despite higher prices, due to growing demand for finished steel and increased competition for scrap, sources told Fastmarkets on Wednesday November 25.A steel mill in the Iskenderun region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 5,000 tonnes of bonus at an average price of $341 pe...Read More
The recent surge in container freight costs and availability of cargo space continue to disrupt trade flows in minerals and metals, with trading companies finding themselves unable to dodge the soaring shipping rates.A combination of fewer vessels on the water, an imbalance in trade flows to and from China, and competition between cargoes has kickstarted a rapid increase in shipping costs for...Read More
The price rise in the CIS steel billet export market has temporarily stopped because sentiment in Asia has subsided, although mills have kept their offer prices high, sources told Fastmarkets on Wednesday November 25.Offers of steel billet from Russian and Ukrainian mills were heard within the range of $470-500 per tonne fob on Wednesday this week, little changed from Tuesday.Most mills were offer...Read More
How did we travel so far from the original vision of the internet as the one place humans could communicate and organize free of state and corporate control?Glenn Greenwald is a journalist, constitutional lawyer, and author of four New York Times best-selling books on politics and law. His most recent book, "No Place to Hide," is about the U.S. surveillance state and his experiences reporting on t...Read More
In this video I discuss the interplay between interest rates and Gold. Gold moves based on movements in real interest rates, which is driven by either rate cuts or rising inflation and inflation expectations.With respect to interest rates and Gold, keep an eye on the yield curve. When the curve is steepening because long-term yields are rising faster, that is bullish for Gold. However, Gold can se...Read More
In this interview Rick Rule, president and CEO of Sprott U.S. Holdings, shares why some of the junior miners that have sold off recently could be considered now "on sale." Rick comments on Buffett's recent 13F filing as well as Endeavour Mining's proposed acquisition of Teranga Gold. He also discusses ESG and soft commodities. Rick concludes the interview by reminding listeners that he will review...Read More
Andy Schectman, CEO of Miles-Franklin joined us. We've seen a rather rapid decrease in precious metals prices during the past week. But Andy isn't concerned in the least. It's just an effort by the bullion banks to squeeze out weak holders. But it's destined to fail, because the people who actually take delivery from the Comex will not be cowed. They are family offices, hedge funds and sovereign w...Read More
Danielle DiMartino Booth is CEO & Chief Strategist for Quill Intelligence LLC, a research and analytics firm. She spent nine years as an advisor to Richard W. Fisher at the Federal Reserve Bank of Dallas. Danielle left the Fed in 2015 to found Money Strong, LLC, an economic consulting firm and launched a weekly economic newsletter She is the author of Fed Up: An Insider's Take on Why the Federal...Read More
Markets hit all time record high of 30k.Record TSLA stock price rockets Elon Musk to second richest in the world.Trump takes credit for record markets he said would tank on Biden win.Janet Yellen for Secretary of Debt.The opposite of the Roaring Twenties are here.Bitcoin flirts with 20k.FDA blocks harmless drugs.Peter Schiff is an internationally recognized economist specializing in the foreign eq...Read More
Chris Vermeulen has been involved in the markets since 1997 and is the founder of Technical Traders Ltd. He is an internationally recognized technical analyst, trader, and is the author of the book: 7 Steps to Win With Logic.Read More