Export prices for pig iron from Brazil have gone down on the influence of weak global scrap pricing and fading demand, sources told Fastmarkets during the week ended Friday September 20.Fastmarkets' weekly price assessment for pig iron, export, fob Vitorio/Rio, Brazil, was $285-300 per tonne on Friday, down from $305-310 per tonne last week.Suppliers were heard to cut their prices, but were not re...Read More
Global scrap prices continued to fall in all major markets during the week ended Friday September 20, under pressure from persistent negative sentiment and with market participants seeing no prospect of relief. Turkey import prices fall further; suppliers accept lower prices US export prices down for cargoes sold off both coasts Asian import prices decline on oversupply Indian import prices down i...Read More
Diego Zanuso will begin a transition plan to take over as chief executive officer of Evraz' trading arm, Switzerland-based East Metals AG, while the current East Metals chief executive officer Joe Vazquez is set to retire as of July 2020.Zanuso has spent 12 years with Evraz, most recently serving as the global head of vanadium sales since...Read More
Questions about the fate of stocks held by the defunct Fanya Metal Exchange have been a weight on negotiations in many minor metals markets since the bourse collapsed in 2015, and have contributed to the uncertainty that has stifled trade for much of 2019.Buying appetite in the spot market has weakened, and prices for some minor metals including indium, bismuth and antimony have reached multi...Read More
SD Friday Wrap: Silver's outlook just turned wildly bullish, and for a reason that most people missed...Editor's Note: The charts in this article were set-up around 11:30 a.m. EST on Friday and do not include price action after that time unless specified.*****This has certainly been one wild week even if it's not reflected in metals' price action.Check out silver wanting to finish out the week rig...Read More
Where will the rally take the gold price in the early October break-out? Here's where...by Chris Vermeulen of The Technical TradersJust as we predicted, precious metals are setting up another extended momentum base/bottom that appears to be aligning with our prediction of an early October 2019 new upside price leg.Recent news of the US Fed decreasing the Fed Funds Rate by 25bp as well as strength...Read More
Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | Android | Email | Stitcher | RSSIs manipulation the only reason to back-up the truck? No, it's just one of the many reasons. Here are the rest...Simon Popple of Brookville Capital interviewed by Half Dollar of Silver DoctorsSimon says we need to play the cards we've been dealt, and if that means silver's been driven down in price an...Read More
Why doesn't the Justice Department truly crack down on JPMorgan for the more serious crimes of...by Ted Butler via Silver SeekBy now, it would have been hard not to have read about the Justice Department's landmark criminal indictments against three additional precious metals traders from JPMorgan. Two of the traders charged are current employees and include the head of global metals trading. The...Read More
The three-month lead price on the London Metal Exchange rose by 1.2% at the close of trading on Friday September 20, climbing beyond the $2,100 per tonne support level, while forward spreads in LME nickel tightened over the afternoon. Lead futures closed at $2,120 per tonne, its highest closing price since March, while just under 4,000 lots were exchanged by the close. Reports of a restart at Nyrs...Read More
Restocking by downstream consumers in preparation for China's National Day holiday was the main driver of a drawdown of most base metal stocks at Shanghai Futures Exchange-approved warehouses in the week to Friday September 20. All base metals inventories fell, barring zinc and nickel. Copper stocks tumbled by 7.1% or 10,809 tonnes to 141,379 tonnes in the latest SHFE stock report released on Frid...Read More
Seaborne coking coal prices have fallen to a three-year low while the segment for premium products appear to be diverging into two distinct tiers due to sustained Chinese demand for low-vol materials and fewer takers for mid-vol cargoes.Premium hard coking coal, fob DBCT: $128.19 per tonne, down $12.47 per tonnePremium hard coking coal, cfr Jingtang: $154.98 per tonne, down $6.45 per tonneHard cok...Read More
Questions about the fate of stocks held by the defunct Fanya Metal Exchange have been a weight on negotiations in many minor metals markets since the bourse collapsed in 2015, and have contributed to the uncertainty that has stifled trade for much of 2019.Buying appetite in the spot market has weakened, and prices for some minor metals including indium, bismuth and antimony have reached multi...Read More
The import market for pig iron in the United States fell in the week ended Friday September 20, with buyers still not ready to resume purchases and expecting lower prices because of the weak scrap sector and planned maintenance outages in December.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $320-325 per tonne on September 20, down from $330-340 per tonne the wee...Read More
The three-month lead price on the London Metal Exchange rose by 1.2% at the close of trading on Friday September 20, climbing beyond the $2,100 per tonne support level, while forward spreads in LME nickel tightened over the afternoon. Lead futures closed at $2,120 per tonne, its highest closing price since March, while just under 4,000 lots were exchanged by the close. Reports of a restart at Nyrs...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Uptrends in the spot aluminium premiums in Rotterdam have faltered with backwardations in the London Metal Exchange December/three-month and January/three-month spreads starting to put material pressure on the physical market. Fastmarkets assessed the benchmark aluminium P1020A premium, in-whs dup Rotterdam at $100-110 per tonne on Friday September 20 from $105-115 per tonne the day before wh...Read More
Restocking by downstream consumers in preparation for China's National Day holiday was the main driver of a drawdown of most base metal stocks at Shanghai Futures Exchange-approved warehouses in the week to Friday September 20. All base metals inventories fell, barring zinc and nickel. Copper stocks tumbled by 7.1% or 10,809 tonnes to 141,379 tonnes in the latest SHFE stock report released on Frid...Read More
Some large Chinese metal scrap buyers that have been granted import quotas have been reselling their permits to smaller companies since new import restriction came into place, Fastmarkets learned. China implemented a quota system in July this year to restrict the inflow of metal scrap, including high-quality category 6 copper scrap, in a bid to reduce the pollution arising from the scrap processin...Read More
The three-month nickel price on the London Metal Exchange was higher during morning trading on Friday September 20, buoyed by both stock removals and fresh cancellations while turnover was moderately high. The nickel price was recently trading at around $17,795 per tonne, climbing by more than 3% from Thursday's closing price of $17,280 per tonne. Nickel trading volumes were moderately high over t...Read More
Chinese nickel consumers may be deterred from guaranteeing long-term ore supply by investing in Philippine ore production, delegates said during a panel discussion at the 18th International Stainless and Special Steel Summit in Seville, Spain, on Wednesday September 18.This is despite prevailing opinion that Philippine material is more easily refined and cost effective than Chinese nickel pig iron...Read More