Flat steel sales from Brazilian distributors increased by 5.3% year on year in January, with the country's steel consumption rising amid price increases, according to national flat steel distributors' association Inda. Shipments amounted to 279,400 tonnes last month, against 265,300 tonnes a year before, Inda said on Tuesday February 18."The market is improving slowly," Inda president Carlos Loure...Read More

Here are five Fastmarkets stories you might have missed on Monday February 24 that are worth another look.Chinese rebar remained the most competitively priced of imports of the long steel product in Singapore over the past week, edging out Turkish products.The discount for copper scrap imported into China has fallen in February on a lower commodity price and a negative arbitrage, with the impact o...Read More

CIS export prices for steel slab remained firm in bookings made in the seven days to Friday February 21 despite a weakening of the finished flat steel sector in the region and in some customers' markets.A cargo of Russia-origin slab was reported sold to Belgium at $425 per tonne fob Black Sea last week, in line with asking prices.Fastmarkets' weekly price assessment for steel slab, export, fob Bla...Read More

By: Gary SavageGeneral market updates on today's big down-move. This video update includes: $ES, $AAPL, $COMPRead More

- Dave KranzlerAnd it's not just gold. The Fed is already hinting that more money printing is coming. Powell suggested at his semi-annual Congressional testimony that QE would be used in the next recession. A couple other Fed officials this week confirmed that the FOMC is preparing to crank up the printing press even more than it has been running since mid-September.But why does the Fed fe...Read More

David HaggithWho says there is no recession anywhere in sight? It depends on where you are looking. In short, manufacturing remains in recession; corporate profits remain in recession; freight remains deep in recession; Carmageddon remains in recession; and the Retail Apocalypse remains a recession for brick-and-mortar stores, while employment the last holdout is now also turning d...Read More

StrengthsThe best performing metal this week was palladium, up 11.52 percent as precious metals had a stellar week. Gold hit a seven-year high this week, holding above $1,600 an ounce to the highest since February 2013 largely on coronavirus fears. The metal also rose on speculation that the Federal Reserve will ease monetary policy before year-end. Gold remained strong even as the U.S. dollar a...Read More

Clive MaundIf you are wondering why gold is starting to accelerate away to the upside, you need look no farther than the following amazing chart forwarded to me by reader Larry Fike, which Larry has kindly given me permission to reproduce in this update...Click on chart to popup a larger, clearer version.Chart courtesy of Larry FikeThe chart speaks for itself and requires little additional comme...Read More

Now that we are hearing stories about the viral threat of superspreaders, of deepening economic paralysis around the world, and how it could take 18 months to produce a vaccine, investors' show of bravado in recent weeks seems to have melted away. Shares got hit across-the-board on Thursday and Friday, and if investors know what's good for them they'll pound the bejeezus out of them this week. A...Read More

Gold April reached a high of $1684.10 early morning (at New Zealand open). Silver march reached at high of $1879.50. Copper march fell to a low of $256.50. Crude oil fell to a low of $51.66. Early morning high (just after New Zealand open) can be fake or just stop loss hitting price moves. No doubt the trend for gold and silver is bullish. BUT still they have to break and trade over early mornin...Read More

Domestic prices for hot-rolled coil in both Northern and Southern Europe rose at the end of the week to Friday February 21, supported by a lack of competitive imports and a degree of recovery in demand.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?483.99 ($524.88) per tonne on Friday, up by ?,?4.65 per tonne week on week from ?,?479.34 per tonne on February...Read More

Steel billet prices in the global markets were up in all regions except Asia last week, supported by increasing raw material costs, particularly scrap.Low-priced Japanese billet transactions and competitive offers for Chinese billet resulted in a $10-per-tonne decline in the Southeast Asian market.Southeast Asia, ChinaSeveral cargoes of Japanese billet were booked in the Philippines last week with...Read More

Here are five Fastmarkets stories you might have missed on Monday February 24 that are worth another look.Chinese rebar remained the most competitively priced of imports of the long steel product in Singapore over the past week, edging out Turkish products.The discount for copper scrap imported into China has fallen in February on a lower commodity price and a negative arbitrage, with the impact o...Read More

Trade disputes and geopolitical uncertainties had already made the prospects for global economic growth uncertain. A coronavirus has now added to the challenges facing financial markets.The epicenter of the virus is Wuhan, an important commercial hub in China that is home to 11.9 million people, including the country's largest student population. It is also a manufacturing hub, with around 500 fac...Read More

The three-month zinc price on the London Metal Exchange fell by more than 2% at the close of trading on Monday February 24, with downward moves taking it to its its lowest close since July 2016, while broad risk-off sentiment across the base-metals complex saw copper lose 1.2% of its outright price.Zinc's underlying price on the LME closed at $2,046 per tonne on Monday afternoon, falling from an i...Read More

Seaborne iron ore prices were largely steady on Monday February 24 following an upward trend last week, with market participants contemplating the direction of prices for this week.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.88 per tonne, down $0.37 per tonne.62% Fe low-alumina fines, cfr Qingdao: $92.82 per tonne, down $0.34 per tonne.58% Fe fines high-premium, cfr Qingdao: $79.72...Read More

Seaborne coking coal prices were flat on Monday February 24, with market participants waiting for new drivers to emerge in China.Fastmarkets indicesPremium hard coking coal, fob DBCT: $159.20 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $167.13 per tonne, unchangedHard coking coal, fob DBCT: $141.63 per tonne, unchangedHard coking coal, cfr Jingtang: $149.44 per tonne, unchangedA co...Read More

Domestic prices for hot-rolled coil in Northern Europe were stable day on day on Monday February 24, but producers remained bullish, sources told Fastmakets.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?484.02 ($524.91) per tonne on Monday, almost unchanged from ?,?483.99 per tonne on February 21.The index was calculated based on deals and "workable" pr...Read More

The three-month zinc price on the London Metal Exchange fell by more than 2% at the close of trading on Monday February 24, with downward moves taking it to its its lowest close since July 2016, while broad risk-off sentiment across the base-metals complex saw copper lose 1.2% of its outright price.Zinc's underlying price on the LME closed at $2,046 per tonne on Monday afternoon, falling from an i...Read More

The discount for copper scrap imported into China has fallen in February on a lower commodity price and a negative arbitrage, with the impact of virus-led delivery delays on the overseas scrap price being minimal in the Chinese market.Fastmarkets assessed the monthly discount of No 2 94-96% copper scrap, birch or cliff, at 31-34 cents per lb cif China on February 24, down from 33-37 cents per lb i...Read More