Mackenzie Scott is now the richest woman in the world.With a net worth of $62.4 billion, the former wife of Jeff Bezos is so rich her wealth exceeds the GDP of Slovenia.This is what my cousin calls "fu*k you" money.I'm not quite so crass, but let's face it - if you had $62.4 billion, there's nothing you wouldn't be able to do.I was thinking about this last night.Thinking about what I'd do with all...Read More
After a consultation period, Fastmarkets has amended the frequency of its cobalt hydroxide index, min 30% Co, cif China to weekly. The cobalt hydroxide index, min 30% Co, cif China was published on the last working day of the month until the end of July, and has been published fortnightly since August 7. Fastmarkets has seen a sustained increase in spot activity for fixed-price, prompt cobalt hydr...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 3 that are worth another look.A month ago, Eric, a steel importer based in eastern China, was pricing hot-rolled coil imports 20-30 yuan ($3-4) per tonne below the market average to secure orders. Now, he...Read More
Domestic prices for hot-rolled coil continued to rise day on day in Northern Europe on Thursday September 3, gradually approaching the levels seen before Covid-19 lockdown measures were imposed, market sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?459.50 ($545.21) per tonne on Thursday, up by ?,?3.15 per tonne day...Read More
Most Turkish flat steel prices increased in August 2020 and market sources expect further price increases to come amid global price rises, Fastmarkets heard on Thursday September 3.Turkish flat steel producers are fully booked until late-October, with trading sources reporting that the market was moderate for most of August because of the seasonal summer slowdown in Turkey and its neighboring coun...Read More
Imported billet prices increased slightly in Egypt because of the higher offer prices heard from the Commonwealth of Independent States (CIS) although no deals were done, sources told Fastmarkets on Thursday September 3.Export billet prices from the CIS region have been increasing, supported by rising prices in the scrap segment and the revival of customer interest, particularly in North Africa.Fa...Read More
Domestic long steel prices in Turkey have increased over the past week in line with rising imported scrap values, sources said on Thursday September 3.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 3,950-3,960 lira ($535-536) per tonne on Thursday, up from the 3,860-3,870 lira per tonne of last week.The long steel...Read More
Prices in Turkey for steel rebar and wire rod have increased over the past week thanks to rising imported scrap costs and improving demand, sources said on Thursday September 3.A steel mill in the Marmara region was heard selling 52,000 tonnes of rebar to Hong Kong at $443 per tonne fob on an actual weight basis, while it also sold some 58,000 tonnes of rebar to West and North Africa at $450 per t...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 3 that are worth another look.A month ago, Eric, a steel importer based in eastern China, was pricing hot-rolled coil imports 20-30 yuan ($3-4) per tonne below the market average to secure orders. Now, he...Read More
Turkish steel mills have continued their deep-sea scrap purchases for September-October shipments at higher prices, sources told Fastmarkets on Thursday September 3.A steel mill in Northern Turkey booked a Baltic Sea cargo comprising 10,000 tonnes of HMS 1&2 (80:20) at $300 per tonne, 13,000 tonnes of shredded at $305 per tonne and 4,000 tonnes of bonus at $310 per tonne cfr late on Wednesday.Anot...Read More
Seaborne iron ore prices were up on Thursday September 3 amid market anticipation of a healthy demand outlook for steel, trade sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $129.92 per tonne, up $2.61 per tonne.62% Fe low-alumina fines, cfr Qingdao: $130.17 per tonne, up $2.27 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $115.23 per tonne, up $4.01 per...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view. A look at stainless steel price movements through August reveals the ongoing battle being faced by stainless steelmakers in Europe and the United States while they try to pass on rising costs to consumers. In these regions, prices on most grades of stainless steel are little changed from July, rising by around 2% at most -...Read More
An investment thesis for Vox Royalty is presented in a Red Cloud Securities report. In a Sept. 2 research note, analyst Derek Macpherson reported that Red Cloud Securities initiated coverage on Vox Royalty Corp. (VOX:TSX.V) with a Buy rating and a CA$4.75 per share target price. The company is currently trading at around CA$3.06 per share."Vox is set to outperform other new entrants to the royalt...Read More
Omineca Mining and Metals stakes additional claims and options a project just west of its Wingdam property. In a news release, Omineca Mining and Metals Ltd. (OMM:TSX.V; OMMSF:OTCMKTS) announced it made two moves to expand its presence in British Columbia's Cariboo Mining District.One, the Saskatchewan-headquartered company staked an additional 12,133 hectares of contiguous mineral claims that ar...Read More
Assays are from UrbanGold Minerals' Pallador property in the Troilus-Frotet area. UrbanGold Minerals Inc. (UGM:TSX.V) announced in a news release more surface exploration results from its Pallador property in Quebec's Troilus-Frotet area.The company's summer 2020 exploration and mapping work is being done on several blocks, including the main one next to Kenorland Minerals' recent Regnault gold d...Read More
With a 1 million ounce Inferred gold resource already in hand, Margaux Resources' exploration is focusing on proving up a much larger resource. Cassiar Gold ProjectMargaux Resources Ltd. (MRL:TSX.V) has a new CEO, a new chief technical advisor and an ambitious strategy: to conduct the exploration necessary to expand its current 1 million ounce Inferred gold resource to prove up a multi-million ou...Read More
Most Turkish flat steel prices increased in August 2020 and market sources expect further price increases to come amid global price rises, Fastmarkets heard on Thursday September 3.Turkish flat steel producers are fully booked until late-October, with trading sources reporting that the market was moderate for most of August because of the seasonal summer slowdown in Turkey and its neighboring coun...Read More
RESEARCH HIGHLIGHTS:Platinum may be setting up in a technical pattern that is similar to the end of 2001/early 2002.Platinum could rally more than 300%, somewhere near $3,450 or higher.This might push Gold above $7,500 an ounce and may push silver somewhere north of $125 per ounce.Rally hinges on platinum breaking out above $1,050.50.Platinum may be setting up in a technical pattern that is simila...Read More
Turkey exported 511,188 tonnes of flat steel products in July 2020, according to the Turkish Statistical Institute (TUIK), up by 10.36% year-on-year from 463,220 tonnes exported in July 2019.The main reason for the increase was the rise in tonnages of cold-rolled coil and coated coil exports in July.Turkey made several export deals for hot-dipped galvanized coil in May and June, which were deliver...Read More
Peter Krauth looks at the factors behind the movements in the gold and silver markets. Gold's retreated from a record high above $2,000, and silver's off its own seven-year highs near $30.Is that cause for concern? I doubt it.These have been dramatic surges to new levels, brought on by a combination of low interest rates, historic money-printing raising the specter of inflation, a softer U.S. doll...Read More