Some flat steel import prices in the United Arab Emirates and Saudi Arabia increased this week on higher offers, but demand was still weak because of the continuing New Year holidays in global markets, sources told Fastmarkets on Tuesday January 7.UAEOffer prices for hot-rolled coil (HRC) from China were heard in the UAE at $500-510 per tonne cfr this week, while Indian HRC was offered at $520-525...Read More
Demand for flat steel products in Turkey was strong in December 2019 because of restocking purchase activity as well as globally increasing prices, market participants told Fastmarkets on Tuesday January 7.Local producers have now filled their order books until late March, sources added.Demand was strong in Turkey in November because of the rising prices, and continued to be strong in December.And...Read More
This year could look similar to 2019 on the merger and acquisitions front in the United States steel industry, with long products likely to be busier than flat products, according to analysts."People will get to doing deals [in 2020] much like [last] year - very selectively and where the strategic fit is right and they can bring some synergies to the table. I think that's what is really going to d...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday January 7 that are worth another look.Alexander Shevelev, chief executive officer of Russian steelmaker Severstal, says that the company has changed its culture quite quickly and substantially to focus on being a solutions provider.Brazilian vehicle output shrank by 3.9% year on year during December 2019, because higher domestic...Read More
Domestic and import prices for steel rebar and billet in the United Arab Emirates remained stable over the past week on limited demand, market sources said on Tuesday January 7.But market participants in the UAE said that prices could rise if raw materials costs continue to increase.Local rebar producers announced new prices on December 19.Billet importsImported billet...Read More
Chinese imports of ferro-niobium hit a 10-month high in November 2019, registering an increase of 75.4% month on month and 99.1% year on year, according to official but unconfirmed data seen by Fastmarkets.The 5,954 tonnes delivered to Chinese shores in November was the second highest amount imported by the country so far in 2019, following the 70,103 tonnes recorded in January. This compares with...Read More
The Turkish deep-sea scrap import markets were relatively quiet on the second day of the working week, with the mills still in negotiations for February cargoes, sources said on Tuesday January 7.The steel producers in the country had been silent in the deep-sea markets over the past two weeks because of the year-end holiday periods. They resumed their purchases at the end of last week with four c...Read More
The high-grade seaborne iron ore index rose to $107.30 per tonne cfr on Tuesday January 7, with market participants attributing the increase to healthy demand from steelmakers in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $95.11 per tonne, down $0.50 per tonne62% Fe Pilbara Blend fines, cfr Qingdao: $94.20 per tonne, down $0.50 per tonne62% Fe low-alumina fines, cfr Qingdao:...Read More
By: Ira EpsteinGold's move to 7-year highs, what to look for next: resistances and supports:Read More
Focus will now shift to US December private ADP job numbers tomorrow and Friday's US December nonfarm payrolls. Both these numbers should come it at or over 160,000 for gold and silver to see selling pressure. Use sharp dips to invest for Easter in both gold and silver. Trade pact with China and Brexit has already been factored by the markets. Trump has started 2020 with a fragile Middle east an...Read More
Japan is expected to divert more of its ferrous scrap export supply to Vietnam and Bangladesh in 2020 due to weaker demand from neighbor South Korea, market sources in Japan told Fastmarkets."South Korean demand for ferrous scrap is expected to fall further in 2020 compared with 2019, and Japanese scrapyards will have to target new markets to send their materials," a Japanese trader told Fastmarke...Read More
Alex Jones was recently ordered to pay over $100,000 in legal fees to Neil Heslin, a parent of one of the children killed in the Sandy Hook school shooting. Continue...Read More
China's domestic rebar prices were stable on Tuesday January 7 despite a pick-up in the futures market, with downstream demand remaining soft.Eastern China (Shanghai): 3,680-3,710 yuan ($528-532) per tonne, unchangedNorthern China (Beijing): 3,540-3,570 yuan per tonne, unchangedEnd users are gradually reducing their procurement rates with ahead of the Chinese New Year in late January.Stockists are...Read More
Fund manager Adrian Day reviews recent developments with precious metals producers in his portfolio. Newmont Goldcorp Corp. (NEM:NYSE, $42.83) is in our portfolio because Newmont acquired Goldcorp. Over the past eight months, it has been active with major sales, including 50% of Kalgoorlie in Australia Barrick also sold the other 50% just a little before and Red Lake (which came with Goldcorp), b...Read More
This year could look similar to 2019 on the merger and acquisitions front in the United States steel industry, with long products likely to be busier than flat products, according to analysts."People will get to doing deals [in 2020] much like [last] year - very selectively and where the strategic fit is right and they can bring some synergies to the table. I think that's what is really going to d...Read More
The year included achievements related to exploration and finances. Great Bear Resources Ltd. (GBR:TSX.V; GTBDF:OTCQX) CEO Chris Taylor recapped the 2019 year in his annual letter to shareholders. "It was a very good year for our company," he wrote. He listed four of Great Bear's key accomplishments. In terms of exploration at its Dixie project, it discovered six new gold zones along 4 kilometers...Read More
This year could look similar to 2019 on the merger and acquisitions front in the United States steel industry, with long products likely to be busier than flat products, according to analysts."People will get to doing deals [in 2020] much like [last] year - very selectively and where the strategic fit is right and they can bring some synergies to the table. I think that's what is really going to d...Read More
Alexander Shevelev, chief executive officer of Russian steelmaker Severstal, says that the company has changed its culture quite quickly and substantially to focus on being a solutions provider. p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; line-height: 18.0px; font: 18.0px 'FagoNoRegularLF-Roman'} p.p2 {margin: 0.0px 0.0px 0.0px 0.0px; line-height: 10.5px; font: 9.0px 'Antwerp Light'; min-height: 11.0px...Read More
It was a choppy session on Wall Street todayThe Dow turned in a triple-digit loss today, as rough outings from Merck (MRK) and Chevron (CVX) overshadowed upbeat U.S. services data. The blue-chip index pared a wider triple-digit deficit, though, amid fewer headlines regarding U.S.-Iran tensions. The S&P 500 and Nasdaq joined the Dow in the red, with the latter giving up last-minute gains despite a...Read More
LONDON, 27 December 2019 - Comment and analysis from BullionVault today leads a detailed report on gold's 2020 outlook from ThisIsMoney, the personal finance site from the UK's Daily Mail newspaper group.Noting that gold priced in British Pounds hit new all-time highs in 2019, "Many of this year's professional and wealthy investors buying gold are choosing to own bullion in a vault, rather than ju...Read More