The key global scrap markets surged upward in the week to Friday November 6, as a result of strong purchasing activity, with Turkey continuing to buy a large volume of cargoes for a third week.Turkey books more material on positive long-steel export salesUS reports bookings from East and West CoastsGood demand boosts Taiwan scrap pricesVietnam moves up despite quiet marketIndian prices jump on tig...Read More
The price of shredded steel scrap imported into India and Pakistan moved up on Friday November 6 as a result of tight material supply, sources have told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $330.32 per tonne on Friday, up from $321.21 per tonne one week earlier.A deal for shredded material was heard at $325-326 per tonne cfr, and a...Read More
Prices for inter-merchant light iron scrap in the UK market were stable over the week to Friday November 6, extending a steady trend for the fourth consecutive week on firm domestic fundamentals and cemented by active export trading, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?95-105 ($124-137) per...Read More
The price of gold sharply rallied yesterday, increasing more than 3.5% higher to over $1,950 an ounce - a six-week high for the yellow metal.Meanwhile, sister silver traded some 5% higher yesterday, selling now for over $25.50 an ounce.But yesterday's action in the precious metals market might be a bit short-lived.Precious metals rallied yesterday as the U.S. dollar fell and the pound sterling ros...Read More
Nov 05, 2020 Guest(s): Kai Hoffmann - CEO, Soar Financial The short to medium-term outlook for gold depends on whether or not Joe Biden can maintain his lead into the White House, or if Donald Trump can beat current odds and win, said Kai Hoffman, founder and managing director of SOAR Financial Partners. "If Trump wins we might see a small selloff [in gold] again, just because of risk off, and...Read More
An overview of the new energy raw materials markets and their latest price moves.Susan Zou and Sally Zhang in Shanghai, Carrie Shi in Beijing, and...Read More
Bullish momentum has extended in China's battery-grade lithium carbonate market at the start of November with most producers pushing offer prices higher on reduced availability of material, sources told Fastmarkets on Thursday November 5.Bullish sentiment continued to spread in China's battery-grade lithium carbonate market with higher offers reported.China's lithium hydroxide prices declined due...Read More
Domestic prices for hot-rolled coil in Northern Europe moved up slightly day on day on Friday November 6, due to long lead times at European mills and a lack of import offers, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?512.53 ($604.08) per tonne on Friday, up by ?,?1.19 per tonne from ?,?511.34 per tonne on Thursday.T...Read More
Flat steel prices in the Turkish market increased sharply during the week to Friday November 6, with all prices going up by $30-60 per tonne on strong demand because of low stock levels, sources told Fastmarkets.Demand was good this week because stockists, steel service centers and end-users all had low stocks that needed to be replenished.Domestic pricesFastmarkets' weekly price assessment for st...Read More
China's hot-rolled coil exporters raised their prices on Friday November 6 amid domestic gains, while the weakening US dollar added fuel to the fire, sources said.DomesticEastern China (Shanghai): 4,040-4,060 yuan ($610-613) per tonne, up 30 yuan per tonneNorthern China (Tangshan) - weekly assessment: 3,820-3,860 yuan per tonne, up 60 yuan per tonneDomestic HRC prices continued their incline on Fr...Read More
Steel demand is expected to remain supported through the end of 2020 in Brazil, with consumption from some sectors - and construction in particular - forecast to grow from 2019 levels, ArcelorMittal's chief financial officer Aditya Mittal said on Thursday November 5."We see demand coming back in various sectors. And in some sectors, like construction in Brazil, we see full-year demand actually hig...Read More
Fastmarkets' Ferrous Analytics report helps subscribers...Read More
Indian local secondary billet prices rose by 1,800 rupees ($24) per tonne week on week on account of strong demand from finished product makers and a sharp rise in prices of direct-reduced iron (DRI).Fastmarkets assessed the price of steel billet domestic, ex-works India at 33,300-33,500 rupees per tonne on Friday November 6, compared with 31,500-31,700 rupees per tonne ex-works last week."Demand...Read More
Activity in the export market for pig iron from the Commonwealth of Independent States (CIS) was low during the week to Thursday November 5 on tight availability, with suppliers reported to be almost sold out for 2020 and demand coming only from China.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $355-360 per tonne on November 5, unchan...Read More
The key global scrap markets surged upward in the week to Friday November 6, as a result of strong purchasing activity, with Turkey continuing to buy a large volume of cargoes for a third week.Turkey books more material on positive long-steel export salesUS reports bookings from East and West CoastsGood demand boosts Taiwan scrap pricesVietnam moves up despite quiet marketIndian prices jump on tig...Read More
The price of shredded steel scrap imported into India and Pakistan moved up on Friday November 6 as a result of tight material supply, sources have told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $330.32 per tonne on Friday, up from $321.21 per tonne one week earlier.A deal for shredded material was heard at $325-326 per tonne cfr, and a...Read More
Rebar prices in eastern China increased on Friday November 6, supported by strong demand and futures gains, to end the week 140 yuan per tonne higher than the previous Friday.DomesticEastern China (Shanghai): 3,890-3,920 yuan ($587-592) per tonne, up by 20 yuan per tonneNorthern China (Beijing) weekly assessment: 3,760-3,790 yuan per tonne, up by 110-120 yuan per tonneContractors in eastern and so...Read More
The investment case for Nomad Royalty Company is made in a Velocity Trade Capital report. In a July 7 report, analyst Michael Siperco reported that Velocity Trade Capital initiated coverage on a new royalty entrant, Nomad Royalty Company Ltd. (NSR:TSX; NSRXF:OTCQX), with an Outperform rating and a CA$2.25 target price. In comparison, Nomad is trading at about CA$1.41 per share. "Nomad offers a pu...Read More
The currency markets have just announcedwhat is coming for silver. This was explained in my previousarticle.The USD/ZAR ratio has now broken down. Thissets silver up to finish the year with a very strong rally: Although silver has been strong since thepeak of the USD/ZAR ratio in April, this breakdown means that we are likely tosee an acceleration in price increases.This breakdown also means that...Read More
Automakers in Brazil expect that ongoing negotiations for annual price contracts with steel producers will be "tough on both sides," according to Luiz Carlos Moraes, president of national auto association Anfavea.Cost increases are one of the main challenges the sector faces in its gradual recovery from Covid-19-related lows, the association said on Friday November 6.Steel prices for automakers ar...Read More