Here are five Fastmarkets stories you might have missed on Thursday July 9 that are worth another look.In light of the recent turmoil in the oil market, the Fastmarkets research team has closely examined the correlations between the price of oil and the prices for ferrous scrap and finished steel products, to discover nuanced relationships and their changes over time.South Africa's government has...Read More
RambusTonight I would like to finish up with the long term secular bull market we discussed in the Weekend Report for the US stock markets. Long term secular bull markets just don't begin and end for no good reason. There has to be a catalyst that drives the markets higher over a long period of time.When the previous secular bull market began at the 1974 bear market low no one could have imagine...Read More
Dave Kranzler, Mining Stock JournalThe monetary "gods" at the Federal Reserve have created the perfect monetary policy recipe to fuel gold, silver and mining stocks to new all-time highs and beyond. While the bubbleheads in the financial media have been garishly cheerleading the general stock market as it heads to an extreme overvaluation that will not end well, the mining stocks have outperform...Read More
Ira EpsteinGold in a vertical price rise, resistance at the upper Bollinger band:Read More
The BMW Group has signed a five-year cobalt supply deal with Moroccan mining company Managem Group covering around one-fifth of its needs for its latest electric drive trains, the company said. The German automotive company will source its remaining cobalt needs for the electric drive trains from Australia, it added.The ?,?100-million ($113-million) contract is for 2020-25 and follows a memorandum...Read More
The London Metal Exchange has released off-warrant stock data to the market in a bid to increase transparency of global metal availability. In an announcement on July 9, the exchange said it hopes by providing visibility to metal which may potentially be put on LME warrant in the future, the market will be able to trade on the basis of a more complete supply picture. The LME's new data, which is o...Read More
Offer prices on CIS-origin steel billet to foreign customers have surged upward toward the end of this week, supported by a recovery of demand in China, Fastmarkets heard on Thursday July 9.Chinese domestic rebar prices rose early in the week on restocking activity and a rise in futures, which resulted in a resumption of import activity in the billet sector.Chinese domestic billet has been traded...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 9 that are worth another look.In light of the recent turmoil in the oil market, the Fastmarkets research team has closely examined the correlations between the price of oil and the prices for ferrous scrap and finished steel products, to discover nuanced relationships and their changes over time.South Africa's government has...Read More
The London Metal Exchange is looking for ways to boost its options market, which has been struggling for some years to replicate the growth seen in the same sector among its peers.The exchange has launched a consultation, scheduled to end on July 29, on developing electronic options via a new trading platform while retaining its current inter-office options trading structure.Items up for discussio...Read More
The mining industry does a huge amount of good for local communities, to say nothing of its essential contribution to society through the materials it produces. Unfortunately, it all too often manages to give itself a bad name, worsening negative perceptions of the sector through accidents, spills and a failure to act as a steward of the environments in which it operates. In the past month alone,...Read More
The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise. And that's how Neil Herrington, senior vice president for the Americas, US Chamber of Commerce, views reports that the US administration is c...Read More
The global nickel market continues to suffer a disconnect between on-exchange activity and market fundamentals, with the appetite for physical material distinctly lackluster, while speculative sights are set firmly on the electric vehicle (EV) battery revolution. Shanghai Futures Exchange nickel prices continue to be volatile despite stagnating stainless steel and EV demand for nickel because of t...Read More
Inflows into silver are likely to continue in the second half. As a result, the silver price is anticipated to surpass the US $21.00 mark in late-2020...From The Silver Institute:Posted on 07 09, 2020Investors Flocked to Silver-backed Exchange Traded Products and Silver Bullion Coins(Washington, D.C. - July 9, 2020) Silver's role as a valued investment was broadly on display during the first half...Read More
The London Metal Exchange has released off-warrant stock data to the market in a bid to increase transparency of global metal availability. In an announcement on July 9, the exchange said it hopes by providing visibility to metal which may potentially be put on LME warrant in the future, the market will be able to trade on the basis of a more complete supply picture. The LME's new data, which is o...Read More
The price that most traders are looking at is the $21 level. Once silver pushes above this level, then we could see a fast BREAKOUT to $27.50... by Steve St Angelo of SRSrocco ReportToday [Wednesday, July 8th] both silver and gold broke above important technical levels. The gold price hasn't been this high since September 2011 when it peaked at $1,923 during that month. Silver finally pushe...Read More
The three-month copper price on the London Metal Exchange was higher at the close of trading on Thursday July 9, continuing to test levels last seen in January despite a volatile forward curve, while nickel lost ground into the afternoon despite high turnover across the base-metals complex.Copper's outright price on the LME closed at $6,300 per tonne on Thursday afternoon, improving from an intrad...Read More
Too bad we don't walk around with honest, CLEAN MONEY in our pockets anymore. WE REALLY SHOULD if we're actually serious about coronavirus...(by Half Dollar) One thing that irks me to no end is the weak (and wrong) argument from the globalists that "plastic", as in charging purchases with a credit card or debit card, is safer than cash.Under the logic of these freedom destroying, humanity enslavin...Read More
Movements in prices for seaborne iron ore were rangebound on Thursday July 9, with concerns coming to light over the limited port inventories of some low- and mid-grade iron ore fines brands, according to market participants.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $106.32 per tonne, down by $0.18 per tonne.62% Fe low-alumina fines, cfr Qingdao: $108.30 per tonne, up by $0.02 per ton...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Capped by oversupplyA lack of a meaningful supply adjustment to the Covid-19 demand hit is keeping the aluminium physical market oversupplied and weighing on prices, limiting the success of more buoyant macro and technical forces on prices. Our premium forecasts are under review in light of threats from the U...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Poised for a technical breakoutFears over a second wave of Covid-19 continue to grow, forcing prices of aluminium and the other base metals to take a pause. Our base-case scenario is that countries will respond more efficiently to contain the virus spread, so economic activity and metal demand should continue to r...Read More