Key data from the pricing sessions in China, Europe and the United States for the week ending Friday September 27. Europe The high carbon ferro-chrome price dropped at the top end of the current range after reports of deals done below that range, although most sources reported quiet business conditions.The market is expected to be relatively quiet ahead of the fourth-quarter European charge and h...Read More
Adam HamiltonArchivesSep 27, 2019 The gold miners' stocks have largely ground sideways in the last couple months, consolidating their big mid-summer gains. That drift is slowly bleeding away greedy sentiment, but this sector remains really overbought. Gold stocks' dominant driver gold is even more overbought, and still facing a massive gold-futures-selling overhang. This makes October, gold stocks...Read More
The federal court in Bel?(C)m, Brazil, has lifted its final embargo on Alunorte's new bauxite residue disposal (DRS2) under a criminal lawsuit, Norwegian aluminium producer Norsk Hydro announced on Thursday September 26.The decision by the federal court to lift the DRS2 embargo under the criminal lawsuit comes after a similar decision on September 20 to lift the DRS2 embargo under a civil lawsuit....Read More
Vale was awarded $1.2 billion plus costs and interest by a London tribunal in April, related to its 2010 ill-fated foray into the storied Simandou iron ore project in Guinea.The London Court of International Arbitration's tribunal had ruled BSGR had defrauded Vale in relation to its investment into 51% of BSGR's Guinea assets.Rio Tinto had discovered Simandou more than 20 years ago and describes i...Read More
An overview of the minor metals markets and their latest price moves.Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 370,39357,94961,489163,585508,730595,467628,168 Change from Prior Reporting Period 28,882-963-3,89357727,32325,56622,467 Traders 22068775253299174 Small Speculators LongShortOpen Interest 63,47730,776658,944 2,3885,48727,954 non reportable...Read More
The gold miners' stocks have largely ground sideways in the last couple months, consolidating their big mid-summer gains. That drift is slowly bleeding away greedy sentiment, but this sector remains really overbought. Gold stocks' dominant driver gold is even more overbought, and still facing a massive gold-futures-selling overhang. This makes October, gold stocks' weakest month seasonally...Read More
By: Ira EpsteinGold daily chart: sideways market. Should gold get under $1,492, this market could get very ugly, very fast. If it doesn't do that then what?Read More
By: Gary SavageThe Odds Are Very High That the Daily Cycle Has ToppedRead More
We've been monitoring Apple shares closely because they look very likely to rise at least 10% above their current $220 price before bulls are spent. AAPL is a powerful engine for the bull market, and a big rally in the stock would all but ensure that the broad averages get dragged higher or at least remain buoyant. The chart shows another reason why it may be premature to bet against the aging...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
The inter-merchant spot market for UK light iron scrap fell again during the week ended Friday September 27 after briefly stabilizing the week before, with shredders cutting their offer prices and smaller suppliers matching that move.The market is expecting further price losses in the near term due to weaker steel sector demand, as well as lower prices in European export markets to Turkey and the...Read More
Global scrap prices continued to fall in all of the major markets during the working week from Monday September 23 to Friday September 27, because of the limited demand for finished steel and widespread negative sentiment. Turkey booked more cargoes for November, prices down Cheaper Turkish cargoes drove down US prices on both coasts Price fall continuds in Southeast Asia amid bearish sentiment Tr...Read More
European austenitic alloy steel scrap prices dropped again this week, pressured lower by poor demand, sources told Fastmarkets on Friday September 27. Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK was ?780-820 ($963-1,012) per tonne on Friday, down by ?40-50 per tonne from a week earlier.This is the third consecutive week that decrea...Read More
The Ontario government is supporting the film and television industry in the North Bay area by creating jobs and developing local talent.Today, Vic Fedeli, MPP for Nipissing, announced an investment of more than $7 million to support seven film and television productions. Investments include: $3 million to Sienna Films Inc. to produce the television series The Trickster. $1.3 million to Peacock A...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
A benchmark price is needed in the lithium industry, Pertti Lamberg, the CEO at Finnish lithium company Keliber, said at Fastmarkets' Battery Materials Europe 2019 conference in Amsterdam, the Netherlands. Keliber has been actively supporting a price mechanism that can be used as a benchmark by the industry, Lamberg said during a lithium panel on Friday September 27. "A price mechanism is needed a...Read More
Turkish prices for hot-rolled coil continued to fall last week on low demand, sources told Fastmarkets on Friday September 27. Demand is unlikely to improve in the coming weeks because of weak steel and raw material prices, Fastmarkets was told. HRC exports Fastmarkets' weekly price assessment for steel HRC, export, fob main port Turkey, was $425-435 per tonne on September 27, down from $435-...Read More
China's domestic hot-rolled coil prices continued to weaken on Friday September 27 but exporters of the product maintained their offers, though weakening demand is expected to put pressure on them to make concessions.DomesticEastern China (Shanghai): 3,600-3,610 yuan ($505-506) per tonne, narrowing downward by 20 yuan per tonneNorthern China (Tangshan): 3,520 yuan per tonne, down 30 yuan per tonne...Read More