US imports of steel products might have surged in December 2019, according to an advance indicator of offshore arrivals.But attempts to draw firm conclusions from import license figures - which have differed from final Census volumes in recent months - might be premature, government data, comments from an International Trade Administration (ITA) spokesperson and calculations by Fastmarke...Read More
Fastmarkets takes a look at what to watch out for in the hot-rolled coil market in the United States in 2020 after another year of volatility and surprises in 2019.After a generally profitable 2018 for the US steel industry, 2019 proved more challenging, with major domestic steel producers posting significant year-on-year losses amid atypical buying and holding patterns."I think 2019 is a hangover...Read More
Tan Viet Quang Co Ltd began construction of a stainless steel plant in central Vietnam's Quang Tri province in late December. The company will invest 1.6 trillion Dong ($69 million) in the project, which will be able...Read More
Gold miners' stocks blasted higher this past week, breaking out of their correction downtrend. Rapidly-improving psychology fueled such strong upside momentum that sector benchmarks are challenging months-old upleg highs. Most traders assume this is righteous, that gold stocks' next upleg is starting to accelerate. But key indicators argue the contrarian side, that this breakout surge is...Read More
Clive MaundAs we approach the end of the year, and of the decade, it is important to have something positive to look forward to. Exactly a hundred years ago, towards the end of 1919, Hitler was able to look forward to becoming the leader of the Third Reich, while our aspirations are somewhat more modest and include having a powerful bullmarket in copper to capitalize upon.There are a number of c...Read More
By: Avi GilburtOriginally published on Sat Dec 28 for members of ElliottWaveTrader.net: When I peruse the comments on our Elliottwavetrader site alone, I am seeing a myriad of "beliefs" as to what the metals are doing and will be doing. Most of such beliefs seem to be driven by feelings, and quite a number of them have been fighting this metals rally. Yet, some are even driven by various...Read More
Chances of a war with Iran has resulted in gold and silver rising today. Crude oil has also risen on supply disruptions from Iraq. Only profit taking (before the weekend) can result in a crash or correction in gold and silver. However gold and silver do not correct then chances of $1575 and $1888 will be very high today. A weaker US dollar is also aiding the rise in gold and silver. Big economic...Read More
US imports of steel products might have surged in December 2019, according to an advance indicator of offshore arrivals.But attempts to draw firm conclusions from import license figures - which have differed from final Census volumes in recent months - might be premature, government data, comments from an International Trade Administration (ITA) spokesperson and calculations by Fastmarke...Read More
An overview of the minor metals markets andthe reasons for any price moves.Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Friday January 3, settling at its lowest level since December 10 last year amid a steady uptick in inventories, while tin futures also suffered over the afternoon to close at a monthly low.Nickel's underlying price on the LME closed at $13,755 per tonne on Friday afternoon, showing a 3.3% downturn agains...Read More
The monthly European alloy steel surcharges have moved downward for January, driven by lower costs for nickel, Fastmarkets heard on Friday January 3.Fastmarkets' calculation of the stainless steel cold-rolled sheet, 2mm, grade 304, alloy surcharge, domestic, Europe, was ?,?1,418-1,437 ($1,587-1,608) per tonne for January, down by ?,?161-171 per tonne...Read More
An already-volatile nickel market will continue to face uncertainty in 2020 while demand wanes and stocks rise amid slowed growth expectations from both the stainless steel and electric battery sectors, market participants predicted.It is widely acknowledged that nickel demand will be driven by the stainless steel and electric vehicle (EV) battery markets, but many analysts expect stainless steel...Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Friday January 3, settling at its lowest level since December 10 last year amid a steady uptick in inventories, while tin futures also suffered over the afternoon to close at a monthly low.Nickel's underlying price on the LME closed at $13,755 per tonne on Friday afternoon, showing a 3.3% downturn agains...Read More
Seaborne coking coal prices were resilient on Friday January 3, with the cfr China premium hard coking coal index passing $150 per tonne and a premium mid-vol cargo changing hands at just under $140 per tonne fob Australia.Fastmarkets indicesPremium hard coking coal, fob DBCT: $140.06 per tonne, down $0.63 per tonnePremium hard coking coal, cfr Jingtang: $151.85 per tonne, up $3.08 per t...Read More
The three-month nickel price on the London Metal Exchange was lower across morning trading on Friday January 3, with price action falling against a fresh inflow of just over 3,000 tonnes, while tin futures similarly lost ground. Nickel's outright price on the LME was recently seen at $13,840 per tonne, down from an intra-morning high of $14,280 per tonne. Turnover was moderately high in nickel, wi...Read More
Indian steel mills have increased their domestic prices for hot-rolled coil for sales in January 2020 by 1,500 rupees ($21) per tonne on the back of rising international prices for the commodity.The price of steel HRC, domestic, ex-works India, was assessed by Fastmarkets on January 3 at 35,000-35,500 rupees ($491-498) per tonne. This was up from the previous assessment of 33,500-34,000 rupees per...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday January 3. China Seaborne prices of both grades of manganese ore in China strengthened further after some sellers successfully increased their offer prices. Many Chinese buyers accepted higher offer prices out of fear of missing out on relatively limited availability of cargoes available...Read More
Shanghai copper premiums have dropped to their lowest level in almost three years on slack spot demand for imported cathodes ahead of Lunar New Year. Fastmarkets' copper grade A cathode premium cif Shanghai stood at $35-48 per tonne on Friday January 3, down slightly from $38-50 per tonne a day ago. The benchmark premium, which is often viewed as an indicator of appetite for imported refined...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
The three-month nickel price on the London Metal Exchange was lower across morning trading on Friday January 3, with price action falling against a fresh inflow of just over 3,000 tonnes, while tin futures similarly lost ground. Nickel's outright price on the LME was recently seen at $13,840 per tonne, down from an intra-morning high of $14,280 per tonne. Turnover was moderately high in nickel, wi...Read More