StrengthsThe best performing metal this week was gold, down 3.51 percent. As of Wednesday, gold-backed ETFs saw 25 consecutive days of inflows and rose to the highest level ever of 2,624.7 tons. Bloomberg reports that after rising 18 percent last year, gold extended its rally into 2020. Turkey's gold reserves rose $1.1 billion from the previous week to now total $29.7 billion as of February 21...Read More
By Ira EpsteinGold update, key technical supports and what to come from the corona virus:Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 3 that are worth another look.Chinese steel company Hebei Jingye Group will complete the acquisition of British Steel on Monday March 9, the UK steel trade union Community said on March 3.Copper concentrate treatment and refining charges (TC/RCs) rose at the end of February, having stalled in the previous week.Brazil's iron o...Read More
The US Midwest aluminium premium fell in the week ended Tuesday March 3 to its lowest since February 2018, but other global premiums remained well supported by the contango in nearby spreads on the London Metal Exchange.Canadian rail situation resolvedEyes on April-May spreads in RotterdamMJP second-quarter negotiations begin.US Midwest premium at 2-year lowIn the United States, the Midwest alumin...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 3.Click on...Read More
Germanium demand has surged thanks to its use in infrared thermometers for fever screening which have been installed at airports, railway stations, long-distance bus stations and ferry terminals across China as part of measures to control the spread of the novel coronavirus (2019-nCoV).Infrared optics, including heat detectors, account for about 30% of total demand for germanium, according to data...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 3 that are worth another look.Chinese steel company Hebei Jingye Group will complete the acquisition of British Steel on Monday March 9, the UK steel trade union Community said on March 3.Copper concentrate treatment and refining charges (TC/RCs) rose at the end of February, having stalled in the previous week.Brazil's iron o...Read More
Silver has already proven its capacity to surprise to the upside...by Claudio Grass via Claudiograss.chGold has been making headlines in recent days, as its price skyrocketed close to $1,700, a rise that most analysts have attributed to the spread of the coronavirus. The fears over its economic impact have sent global stock markets tumbling and, as is usually and reliably the case, panicked invest...Read More
Open interest, however, still represents 143% of annual global silver production. Harvey explains in today's update...by Harvey Organ of Harvey Organ BlogMARCH 2/GOLD REBOUNDS 27.00 DOLLARS UP TO $1595.30//SILVER UP 18 CENTS TO $16.77//MASSIVE 23,000 GOLD ISSUANCE OF EXCHANGE FOR PHYSICALS IN AN OBVIOUS FRAUD/HUGE GAIN ON THE DOW OF 1200 POINTS DUE TO PROBABLE RATE CUT//CORONAVIRUS STORIES//SWAMP...Read More
The big news this week was the drop in the prices of the metals...by Keith Weiner of Monetary-MetalsThe big news this week was the drop in the prices of the metals (though we believe that it is the dollar which is going up), $57 and $1.81 respectively.Of course, when the price drops the injured goldbugs come out. We have written the authoritative debunking of the gold and silver price suppressio...Read More
Interest rate cuts, introduced to stimulate global economies amid the spread of the novel coronavirus (2019-nCoV), have instead compounded market trepidation and are weighing heavily on London Metal Exchange base metals prices, which broadly closed down on Tuesday March 3. The United States Federal Reserve slashed its interest rate by 50 basis points to 0.5% on Tuesday, and while the uns...Read More
China's rebar prices bounced back on Tuesday March 3 in both the domestic and export markets amid optimism for a strengthening of demand in the local market.Eastern China (Shanghai): 3,400-3,440 yuan ($488-494) per tonne, up 40-50 yuan per tonne Northern China (Beijing): 3,300-3,330 yuan per tonne, up 40 yuan per tonneRebar futures had a bullish start to the day, rising to as high as 3,466 yuan pe...Read More
The London Metal Exchange three-month copper price was little moved during morning trading on Tuesday March 3, with a fresh cancelation of some 17,200 tonnes redundant to price action, while zinc continued its downturn. Copper's outright price on the LME was recently at $5,735 per tonne. Turnover was high in copper over the morning - at just under 7,000 lots - as of 9:15am London time. This m...Read More
Spot-market activity during the first month of Fastmarkets' daily monitoring of cobalt prices has been slow because of the consequences of the outbreak of the 2019-nCoV coronavirus, and followed small gains in prices during trading in January.Price movesMetals prices, for both standard and alloy-grade cobalt, continued to climb, albeit incrementally. Buyers were making frequent inquiries, with the...Read More
Ferrous scrap prices in Mexico edged down for five grades, while five other grades were stable, amid adjustments applied by some buyers in the week ended Friday February 28.At least one buyer in Mexico was heard applying a 200-pesos ($10.18) price cut late last week, because of a comfortable level of inventories, sources told Fastmarkets.Fastmarkets' weekly assessment for steel scrap No1 heavy mel...Read More
Grupo Mexico posted record results for the fourth quarter of 2019 and confirmed its place as the lowest cash cost producer in the industry, at $1.07 per lb of copper during 2019. The announcement came as a labor strike at its subsidiary Asarco stretched to its fifth month at five locations in Arizona and Texas, after hourly workers rejected the company's "last, best and final" offer in October las...Read More
Lackluster demand from end consumers has put further pressure on the lead premium in the United States, with the range for the 99.97% ingot premium falling twice in the past four weeks to a nearly seven-and-a-half-year low.Fastmarkets assessed the lead 99.97% ingot premium, ddp Midwest US at $0.085-0.095 per lb on Tuesday March 3, down by 5.3% from the $0.09-0.10-per-lb range maintained...Read More
Novelis Inc has entered a recycling partnership with automotive manufacturer BMW Group in Germany.The recycling system, which has been in place since early 2019, uses automotive scrap from BMW's Dingolfing production plant, the Atlanta-based aluminium rolling and recycling company said on Monday March 2. "Sustainability is...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Wood Mackenzie, in partnership with WisdomTree, has launched an exchange traded fund (ETF) providing investors with exposure to the growth in the demand for, and the usage of, energy storage technologies, and in particular batteries.T...Read More
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