Global manganese ore supply increased 6% year on year in 2019 to 22.14 million tonnes of manganese units, amid rising output in Africa and the Americas, according to the latest data from the International Manganese Institute (IMnI).Supply from Africa and the Middle East increased by 12% to 12.3 million tonnes in 2019, driven by Gabon, Ghana and South Africa, while smaller suppliers in Ivory Coast,...Read More
An overview of the minor metals markets and their latest price moves.Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 376,40146,30986,056192,300553,114654,757685,479 Change from Prior Reporting Period 1,608-10,789-55,418-20,145-11,234-73,955-77,441 Traders 22856825857311180 Small Speculators LongShortOpen Interest 60,78230,060715,539 -4,335-849-78,290 non reportable posi...Read More
The US stock markets dramatically surged mostly in a straight line since mid-October. This extraordinary rally started when the Federal Reserve announced it would resume expanding its balance sheet for the first time in years. The deluge of new liquidity from that quantitative-easing bond buying has again acted like rocket fuel for stock markets. After shooting vertically they are in real...Read More
By: Ira EpsteinGold higher lows and higher highs. $1,567.90 key short-term support. 18-dma at $1,568+Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
The inter-merchant spot market for light iron scrap in the UK dropped in the week ended Friday January 31, with British domestic prices dragged down by persistent weakness in the European export market to key buyers in Turkey and the Indian subcontinent, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, w...Read More
The price of austenitic alloy steel scrap in the UK domestic market decreased this week because of lower nickel costs, sources told Fastmarkets on Friday January 31. Fastmarkets' price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?750-780 ($979-1,018) per tonne on Friday, down by ?20-30 per tonne from ?780-800...Read More
The price of ferrous scrap imported into India dropped again in the week ended Friday January 31, while trading activity paused following a mid-week drop in international scrap prices, sources have told Fastmarkets.Fastmarkets' calculation of the steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $291.99 per tonne on Friday, down from $296.51 per tonne on January 24, marking the thi...Read More
A summary of Nornickel's full-year production results 2019. Production for all key metals increased year on year in 2019 due to ongoing ramp ups at the company's majority-owned Bystrinsky project in Chita, Siberia. Nickel output increased by 5% over the period to 229,000 tonnes due to output increases at Nornickel's refining operations on the Kola Peninsula...Read More
Today, Greg Rickford, Minister of Energy, Northern Development and Mines issued the following update on Ontario Energy Board (OEB) modernization:"I am pleased to announce that the government intends to propose Mr. Richard Dicerni as the new Chair of the OEB Board of Directors. This appointment, if approved, will become effective when amendments to the Ontario Energy Board Act, 1998 under the Fixin...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Imagine buying batteries to power your electronic devices that would last your entire lifetime...No more recharging or batteries that won't charge.No more replacing dead batteries.Sounds great, right?Maybe even too good to be true?Researchers at the University of Bristol, U.K. say they've developed a technique to turn radioactive waste from nuclear power plants into nuclear-powered batteries, whic...Read More
Global battery grade lithium markets were steady in the week to Thursday January 30 with Chinese markets still away for the Lunar New Year holiday which has been extended due to the Wuhan coronavirus and European and United States prices yet to be affected by any impact from the health emergency Chinese spot lithium carbonate and hydroxide prices were rolled over on Thursday for the Lunar New Year...Read More
South American flat steel import prices either rose or held firm during the week ended Friday January 31, while the absence of China from the market drove customers to look for materials from other origins.The Chinese government postponed the country's return from the lunar new year holiday to February 3, from January 31 originally, amid the outbreak of a coronavirus in Wuhan. Shanghai has extende...Read More
Domestic prices for hot-rolled coil in Northern Europe have increased day on day due to mills' good order books and a lack of competitive imports, sources told Fastmarkets on Friday January 31.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe was ?,?474.02 ($522.46) per tonne on Friday January 31, up by ?,?6.45 per tonne day on day from ?,?467.57 per tonne on Janua...Read More
Yesterday, I reviewed Wednesday's Fed rate decision and press conference with Jim Goddard on HoweStreet.com. Key topics included the positive outlook for gold, the USMCA opportunity for contrarians, the role the Fed seems to be playing in financing the US deficit, and a big potential policy shift in H1 that could have big implications for Canadian stocks.We started the show by talking about gold...Read More
Indian steel producers were likely to increase their prices for hot-rolled coil by at least 1,000 rupees ($14) per tonne for February sales to take account of rises in the costs of raw materials such as iron ore, Fastmarkets has heard.HRC prices for the current week, however, remained unchanged on Friday January 31 because February prices were likely to be announced early next week.The price of st...Read More
Just as China and the United States started to reach a deal and trade tensions eased, providing some longed-for certainty, the novel coronavirus (2019-nCov) has again increased fear and uncertainty in the steel and feedstock markets.Although there may be no impact of the coronavirus on China's GDP in the long run, we have already passed the point of "no effect" on the market, as raw material price...Read More
Polish domestic rebar prices moved up over the week due to improved demand, market sources told Fastmarkets on Friday, January 31.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, ex-works Poland, rose to 2,150-2,200 zloty ($553-563) per tonne on Friday January 31 from 2,050-2,200 zloty...Read More