Sentiment in the seaborne iron ore and Asian steel markets have deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Market participants are anticipating a delayed restart of construction and manufacturing activity after the country's Lunar New Year holiday, which has been extended until at least Sunday Februa...Read More

A major Japanese steelmaker is looking to raise its offers for March-shipment hot-rolled coil to its buyers in Asia by $30 per tonne.It plans to offer March-shipment cargoes at $560-570 per tonne cfr to Vietnam and other countries in Southeast Asia."Asian steel mills are likely to increase their offers after the Lunar New Year holiday due to their bullish outlook for the market in February and Mar...Read More

Here are five Fastmarkets MB stories you might have missed on Wednesday January 29 that are worth another look.Sentiment in the seaborne iron ore and Asian steel markets has deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Primary aluminium stocks at the main Japanese port of Nagoya declined by 8% month on...Read More

The price of steel mesh-quality wire rod in the European domestic markets was unchanged this week, with participants anxious about how far ferrous scrap prices would fall, sources told Fastmarkets on Wednesday January 29.Ferrous scrap prices in Turkey climbed sharply between late November and mid-December but then remained steady until mid-January. The Turkish price is a benchmark for the regional...Read More

Prices were stable and trading activity was quiet this week in the European domestic rebar markets, with participants waiting to see how prices would develop in February, sources told Fastmarkets on Wednesday January 29.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?490-500 ($540-551) per tonne on Wednesday, unchanged week on wee...Read More

The United States' ferrous scrap export market has weakened on both the East and West Coast, with new sales occurring at lower prices to Turkey and South Korea.An East Coast exporter sold 30,000 tonnes of a 90:10 mix of No1 and No2 heavy melting scrap (HMS) at $275 per tonne on Wednesday January 29. Equalized to an 80:20 HMS basis, this cargo would be priced at $272 per tonne cfr.This sale was dow...Read More

Turkish deep-sea scrap import prices declined sharply once again, following the fresh United States' cargo deal heard on Wednesday January 29.A steel mill in the Marmara region booked a cargo of 30,000 tonnes of HMS 1&2 (90:10) at $275 per tonne cfr, Fastmarkets was told. This would put the HMS 1&2 (80:20) price at $272 per tonne cfr, several market sources said. The US cargo was compared with the...Read More

The seaborne iron ore market was muted on Wednesday January 29, although market participants lowered their estimates for physical transaction prices in response to the sharp downward movement in the Singapore Exchange's derivatives for the steelmaking raw material a day earlier. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $86.84 per tonne, down $6.87 per tonne62% Fe low-alumina fines, c...Read More

Sentiment in the seaborne iron ore and Asian steel markets have deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Market participants are anticipating a delayed restart of construction and manufacturing activity after the country's Lunar New Year holiday, which has been extended until at least Sunday Februa...Read More

Steel plate prices in Southeast Asia are likely to continue on an upward trajectory due to higher shipping costs and reduced price competition among steelmakers, a source at a leading Japanese mill told Fastmarkets. "Demand from the shipbuilding industry remains far from ideal, but steel producers cannot lower prices any further due to squeezed profit margins," the source said. Stricter emission c...Read More

Gary ChristensonIntense sunshine beamed down upon the canyons of Wall Street, illuminating potholes, dark alleys, secrets and mass delusions. Most people paid no attention because phones, the impeachment circus, Facebook posts, stock prices, and money worries distracted them.It was a normal day.I took a random walk down Wall Street, checked my phone for useless news and accidentally stepped into...Read More

COLORADO SPRINGS, Colo., Jan. 29, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Gold Resource Corporation (NYSE American: GORO) (the "Company") today announced multiple ore grade intercepts from its maiden drill program at the "Scarlet" target located 400 meters north west of its operating Isabella Pearl mine in Mineral County, Nevada. Near surface ore grade gold intercepts included 24.38 m...Read More

Craig Hemke Much of the talk surrounding gold thus far in 2020 has focused upon geo-political and pandemic risks. While all of this is relevant to price in the short-term, the discussions being held by the Fed's FOMC this week will have a much more durable impact.At this point, I wouldn't expect any change to the Fed Funds rate on Wednesday when the meeting concludes. The Fed just assured us las...Read More

Clint Siegner, Money MetalsPhysical palladium and rhodium markets are buzzing. Reported prices for both metals leapt higher in recent days.The story behind palladium's move is that a physical shortage has developed in London. Traders sold metal they didn't physically possess. Now they are being asked to deliver the bars and they are scrambling to secure the metal needed, bidding prices higher....Read More

By: Ira EpsteinGold 18-dma support at $1,564.80. Resistance around $1,587/8. Gold swings hard to call market..Read More

To me the fall in gold price is just a correction and nothing else. Traders will prefer not to get caught off guard in FOMC tonight. Margin calls on stocks and crude oil also resulted in traders closing long positions in gold. Technical sellers came into play once gold started falling. Silver got knocked down as it failed to trade over $18.00. The combination of gold price fall along with sell o...Read More

To Watch Update #5, CLICK HEREThe sudden lack of new information coming out of China has Chris spooked. He walks us through the math here, showing how if the coronavirus follows its current geometric growth, over 100 million people could be infected by the end of February. Don't take today's lack of 'news' as meaning the threat from this virus is dying down. This is very likely just the calm befor...Read More

Something bad was always going to happen. Whether this is it or not, we don't yet know. This virus is contagious before the symptoms show up. With people traveling all over the world, there's no way to contain it. It's already having an impact. China is already on lockdown and there's been rioting Hong Kong over plans to place victims in public housing. Closing down of international trade could re...Read More

Given the continued spread of the Wuhan coronavirus, we urgently reached out to John Barry, author of the award-winning New York Times best-seller The Great Influenza: The Epic Story of the Deadliest Plague in History.Two years ago, we interviewed John about the expected implications should a pandemic of similar scale break out in today world. Little did we realize at the time how quickly his insi...Read More

Shocker: Facebook illegally collected and stored biometric data for millions of users for years without their consent.Continue...Read More