All but one of Fastmarkets' aluminium scrap price assessments fell on Thursday April 9 while the Covid-19 pandemic-driven market slowdown continued to affect the US scrap business."[This] certainly is an unusual time. I've never seen anything like this in my lifetime," one US scrap consumer source said. "Hopefully the May 4 start-up for many automakers will happen."Fastmarkets assessed the mixed l...Read More

A total of 222,020 tonnes of copper scrap has been approved for import into China in a fifth round of metal scrap import quotas, according to an April 10 release from the China Solid Waste & Chemicals Management Bureau.The latest quota is significantly larger than the 3,520 tonnes approved in the fourth round and brings the total amount of copper scrap approved by the bureau since July 2019 up to...Read More

An overview of the battery raw materials markets and their price moves from the past week.Read More

Share this articleYELLOWKNIFE - Northern miners say the federal government's wage subsidy program to get the country through the COVID-19 pandemic leaves them out in the cold.Tom Hoefer of the Northwest Territories and Nunavut Chamber of Mines says the program doesn't work for the mining industry.He says miners have been flying local workers home to their remote communities and using chartered pla...Read More

Here are five Fastmarkets stories you might have missed on Monday April 13 that are worth another look.Argentinian crude steel production fell by 26.7% year on year in March due to the closure of most plants during a mandatory quarantine enforced by the federal government to contain the spread of the Covid-19 virus, national steel chamber Acero Argentino said.A total of 222,020 tonnes of copper sc...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Despite these unprecedented times, US sheet prices moved in line with our expectations over the past month. While we maintain our view on the direction of pricing during 2020 and the length of the pricing downturn, as the Covid-19 crisis deepens we have increased the magnitude of the price declines through the second quarter...Read More

China's hot-rolled coil prices continued to rise on Monday April 13, with sentiment lifted by strengthening futures, although some buyers decided to hold back amid mills' rising output.DomesticEastern China (Shanghai): 3,320-3,350 yuan ($472-476) per tonne, up 50-70 yuan per tonneNorthern China (Tangshan): 3,230 yuan per tonne, up 30 yuan per tonneA Shanghai-based trader said that spot prices in t...Read More

Today is Monday, April 13, 2020, and this is your daily gold market update. Let's look at the latest price of gold, value of the dollar, gold/silver ratio, Commitment of Traders data, and exchange-traded fund (ETF) prices to get a sense of how the yellow metal is faring today.Gold PriceThe price of one troy ounce of gold in U.S. dollars today is $1,732.95. It's up 1.05% from yesterday and up 34.30...Read More

Today is Monday, April 13, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of Matrix Service Company (NASDAQ: MTRX), Texas Pacific Land Trust (NYSE: TPL), and National Oilwell Varco (NYSE: NOV).Matrix Service Company (NASDAQ: MTRX)Matrix Service Company (NASDAQ: MTRX) is a $251.3 million company today with a one-year return of -48.11%. Let's look at its pr...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Despite these unprecedented times, US sheet prices moved in line with our expectations over the past month. While we maintain our view on the direction of pricing during 2020 and the length of the pricing downturn, as the Covid-19 crisis deepens we have increased the magnitude of the price declines through the second quarter...Read More

The price of gold is flying high as the coronavirus pandemic threatens to plunge the world into an economic depression. The World Economic Forum wrote this morning:A third of the world population is under some sort of "lockdown." Over 200 countries are affected, and the number of new cases and deaths in many places are still growing exponentially. All the while, a second crisis, in the form of an...Read More

The Egyptian Ministry of Trade and Industry has postponed a duty reduction on billet and rebar for a period of six months until October 12, 2020, Egyptian sources informed Fastmarkets on Sunday April 12.The duty was supposed to be reduced on April 12.The Egyptian Ministry of Trade and Industry announced a definitive safeguard duty of 16% of the cif price and a minimum of $74 per tonne for steel bi...Read More

China's domestic rebar prices kept moving upward on Monday April 13 on strengthening demand from the construction sector. Eastern China (Shanghai): 3,460-3,490 yuan ($491-496) per tonne, up 30 yuan per tonneNorthern China (Beijing): 3,400-3,430 yuan per tonne, up 30 yuan per tonne from 3,370-3,400 yuan per tonne last FridayDemand in both key spot markets was strong during the day, with gains being...Read More

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK Canadian Insider Index surged an impressive 111.89 points or 15.2% to close at 843.25. With last week's gain, the Index has rebounded 38.5% off its March lows.MACD shot up 11 points to close at 32.68. RSI rose 14.38 points to 50.71.Support is at 750 and (20-day moving a...Read More

The seaborne iron ore market moved up on Monday April 13, with a persistent tightness in the supply of low-alumina and high-grade products from Brazil bolstering prices. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $85.60 per tonne, up $0.83 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $87.26 per tonne, up $1.06 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $74.62 per to...Read More

China's ferrous scrap market plummeted over the past three weeks due to destocking pressure on sellers coupled with low procurement rates among mills, which sent prices to their lowest in close to two years.Fastmarkets' price assessment for steel scrap heavy scrap domestic, delivered mill China was 2,200-2,360 yuan ($313-335) per tonne including value-added tax last Friday April 10, down by 210-23...Read More

Prices in the major global steel billet markets increased in the week to Friday April 10 because of scrap prices rising due to reduced availability; some deals were heard at higher prices during the week.In Turkey, scrap import prices increased strongly amid reduced availability of material in the deep-sea markets, caused by the closing of scrapyards especially in the United Kingdom and United Sta...Read More

The Egyptian Ministry of Trade and Industry has postponed a duty reduction on billet and rebar for a period of six months until October 12, 2020, Egyptian sources informed Fastmarkets on Sunday April 12.The duty was supposed to be reduced on April 12.The Egyptian Ministry of Trade and Industry announced a definitive safeguard duty of 16% of the cif price and a minimum of $74 per tonne for steel bi...Read More

Import prices for steel slab in Southeast Asia and East Asia dipped over the past week, with buyers uninterested in procuring any material due to falling demand in the downstream hot-rolled coil market. Fastmarkets' price assessment for steel slab imports, cfr Southeast Asia and East Asia was $330-345 per tonne on Monday April 13, narrowing downward by $5 per tonne from $330-350 per tonne a week e...Read More

"Fear is our greatest enemy, and hope is our greatest weapon against the disease." Robert Merivel, played by Robert Downey Jr. in Restoration (1995), a film set against the backdrop of 17th century England, during the time of the Great Plague of London, 1665-1666 "The rules are simple. At least that is how my brother sees it. One, avoid the infected at all costs. Their breath is highly contagio...Read More