Cobalt prices continued to drift lower over past week with buyers holding back from the spot market and stock levels sufficient to offset the initial impact of various supply-side cutbacks resulting from efforts to curb the Covid-19 pandemic. Fastmarkets' price assessment for cobalt alloy grade, in-whs Rotterdam stood at $16-16.50 per lb on Thursday April 9, unchanged from the previous day an...Read More

By Daniel R. Amerman, CFACan the U.S. economy actually be turned on and off like a light switch? What are the implications for investors if it can't?The shutdown of much of the American economy in response to the COVID-19 pandemic has already created what is by far the single largest increase in unemployment in U.S. history in such a short period of time. We are experiencing two quite distinct b...Read More

By Rob Kirby The plandemic was [conveniently or coincidentally, take your pick?] "dropped" because we are on an exponential, vertical growth curve for money which had to be created - due to the magic of compounding - before we ever had a "virus". I would like to now remind EVERYONE of a piece I penned back in August of 2018 where I did write in a piece titled, Big Money and the Big Lie: "T...Read More

By RambusBack at the 2008 crash low in the HUI there was a reversal pattern, that is pretty rare, which helped confirm that very important low. If you ever wondered what the 2007 - 2008 top looked like and the decline that followed to the 2008 crash low this daily chart for the HUI paints the Chartology I posted at the tent, in real time, as the impulse move to the downside took place.The 2007 -...Read More

The $2.2 trillion coronavirus relief package that President Donald Trump signed into law on March 27 is just the beginning. The Treasury Department is now seeking some $250 billion more to replenish small business loans, and there's hope that the president and House Democrats can agree on a "Phase Four" spending deal, one that may target infrastructure. Trump has asked for $2 trillion. And...Read More

By David HaggithBy its close yesterday, the market provided exactly the example of the head slamming I said bulls were going to get in the article I was writing all day yesterday because the "Stock Market Bulls are Delusional in Face of Great Depression."Monday's stampede proved how utterly disconnected from reality the market's bulls remain, and that means they're going to get their heads pound...Read More

By: Ira EpsteinGold daily chart shows the massive move from $1450-1740's within a 5 week period, wow!Read More

Aluminium billet premiums across the globe declined on Thursday April 9, with the Covid-19 pandemic continuing to dampen downstream aluminium demand and prices across the supply chain.Fresh record lows in Germany, ItalyBrazil premium at 44-month lowAuto shutdowns pressure US marketNo spot business in Thailand Huge drops in EuropeLiquidity was minimal throughout Europe this week as the coronavirus...Read More

Fastmarkets' price assessment for the aluminium extrusion billet premium, cif Brazil was published later than scheduled on Thursday April 9 due to a technical error.Fastmarkets' price book and database have since been updated for the aluminium 6063 & 6060 extrusion billet premium,...Read More

Here are five Fastmarkets stories you might have missed on Thursday April 9 that are worth another look.South American flat steel import prices were mostly stable week on week as market liquidity dipped in the continent amid lockdowns and weakened demand due to the Covid-19 pandemic.The aerospace industry has been hit hard by the Covid-19 pandemic, with companies in the sector forced to take drast...Read More

Chinese traders are ramping up bids for physical copper in a bid to secure units before an expected cut to valued-added tax (VAT) in April. The Shanghai copper market is betting on China's current 13% VAT being reduced as part of a raft of economic policy measures set to be considered when China's National People's Congress, the state legislature, returns later this month. This would echo a simila...Read More

The London Metal Exchange three-month copper price held above the $5,000 psychological mark on Thursday April 9, closing at $5,002.50 per tonne in a day with a turnover of just above 11,600 lots.The copper price reached an intraday high of $5,070 per tonne following a fresh cancellation of 300 tonnes, despite the low material turnover ahead of the long Easter weekend (Friday April 10-Monday April...Read More

China's hot-rolled coil prices rose on Thursday April 9 despite moderate trading activity, with sentiment improving on gains in the futures market.DomesticEastern China (Shanghai): 3,270-3,280 yuan ($463-464) per tonne, up 50 yuan per tonneNorthern China (Tangshan): 3,200 yuan per tonne, narrowing upward by 10 yuan per tonneA Shanghai-based trader said trading activity on Thursday was just moderat...Read More

China's domestic rebar prices increased on Thursday April 9 amid reports of a drop in inventory levels at mills and the spot market. Eastern China (Shanghai): 3,400-3,430 yuan ($481-486) per tonne, up by 30 yuan per tonneNorthern China (Beijing): 3,350-3,380 yuan per tonne, up 10-20 yuan per tonneSteel stocks continued to drop over the past week due to good demand. Data showing this decline releas...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: OversoldAluminium has been the hardest hit base metal over the past week, after relentless selling pressure took it to fresh multiyear lows while its LME peers generally consolidate or try to rebound. Aluminium is seeing far less in the way of supply restraint or disruptions than the other metals. But this market...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.This week Fastmarkets' analysts and price reporters shared their views and recent findings in a webinar revealing some distinct fundamental tensions for steel, refining alloys and, of course, steelmaking raw materials such as iron ore.While the outlook for chrome and manganese ores and alloys is balanced, as far as market pa...Read More

Prices for bulk cargoes of deep-sea ferrous scrap imported into Bangladesh increased by $10 per tonne over the week to Thursday April 9, with suppliers in the United States raising their offers in response to lower material availability.Bangladesh import prices were also raised by continued demand for steel scrap in the country, despite the nation's recently-imposed lockdown, with at least one ste...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade.U.S. equity index futures moved higher following release of economic news at 8:30 AM EDT. The Federal Reserve announced a $2.3 trillion lending program to support the business community. Consensus for Weekly Initial Jobless Claims was a drop of 5.0 million versus a drop of 6.648 million la...Read More

Wednesday’s trading session saw gold markets quiet down after peeking through the $1700 level on Tuesday. By giving back gains the way the market has, the yellow metal ended up forming the shooting star during the Tuesday session which analysts see as a negative sign. The outlook for the market remains positive as investors continue to be attracted to the safety of gold. Furthermore, the cen...Read More

The gold rally continues to pick up steam, driving the share prices of top gold stocks to new multi-year highs.Gold surgeAt the time of writing, gold trades at US$1,730 per ounce. A year ago, investors paid close to US$1,300. The rally started near the end of May and initially ran through the summer of 2019.Fears surrounding the trade war between China and the United States fuelled most of the gai...Read More