The principal flat steel suppliers to Russia's Central Federal District around Moscow have increased their prices on seasonally good demand, sources told Fastmarkets on Monday July 22.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 44,500-45,000 roubles ($706-714) per tonne on July 22, including 20% VAT. This was up from 43,000-44,500 roubles per...Read More
German steelmaker ThyssenKrupp approved investment funds to build a new chromium coating line for packaging steel at its Rasselstein site in Andernach, western Germany, it said late in the week ending on July 19.The new coating line will be a replacement for the current line, following a change in European Union (EU) regulations. ThyssenKrupp declined to provide the value of the investment but sai...Read More
Prices paid for flat steel imports into the United Arab Emirates and Saudi Arabia were stable this week, with demand remaining weak amid the seasonal summer lull.Buying may improve if prices fall by about $25 per tonne, but such a fall is unlikely any time soon, one market participant said.UAE Offers for hot-rolled coil imports from China to the UAE came in at $500-510 per tonne cfr, but no major...Read More
The dogs are panting on the porch and the people are trying to beat the heat. We had a 113-degree heat index in Maryland on Sunday. Earnings numbers aren't helping.Though tech stocks are on a roll, the broader market is below average. Goldman Sachs has reported: "So far, 28% of firms have beaten sales forecasts, well below average, although 49% have beaten on earnings."Morgan Stanley is forecastin...Read More
Prices for imported rebar in the United Arab Emirates increased this week in response to domestic price hikes, but billet import values declined in line with the global market, sources said on Tuesday July 23.The higher price for rebar imports was driven by local producers in the UAE increasing their prices last week.But weakening billet prices globally, sent billet import pric...Read More
Osisko Metals is a Canadian exploration and development company, creating value in the base metal space, with a focus on zinc mineral assets. The Corporation controls Canada's two premier historical zinc mining camps: The Pine Point Mining Camp and the Bathurst Mining Camp. The Pine Point Mining Camp is located on the south shore of Great Slave Lake in the Northwest Territories, and currently host...Read More
In the process of standardizing the names of its prices, Fastmarkets has found that the delivery destination was displayed incorrectly in the name of its Russian domestic steel prices. In Fastmarkets' price names for steel cold-rolled sheet, hot-rolled sheet, plate and rebar in the Russian domestic market, the delivery destination had been listed as Russia. The correct destination, as properly dis...Read More
Rebar prices in Russia's major steel-consuming region, the Central Federal District, edged down over the past week, with supplies to the market continuing to increase since Tula Steel's entry into the rebar market earlier this year.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, cpt Moscow, Russia, including 20% VAT, was 41,000-41,500 rubles ($650-658) per tonne cp...Read More
Turkish steel mills remained silent over the course of the day on July 23, while news of an older cargo was revealed, sources told Fastmarkets on Tuesday July 23.The market is waiting to hear of any fresh cargo purchases this week, after a cargo that was reportedly sold on July 19 came to light late on Monday July 22.A steel mill in the Iskenderun region bought a United States-origin cargo compris...Read More
In the latest edition of Insights, we check the relative performance of Canadian versus US stocks since December 1st of last year when Donald Trump issued Xi Jinping a tariff ultimatum during their Buenos Aires dinner. Our broadcast of the week looks at a possible signal for small-cap oil patch stocks while our insider of the week is one of Canada's most successful entrepreneurs who is buying an...Read More
Seaborne iron ore prices were rangebound on Tuesday July 23, while the ongoing environmental restrictions have limited iron ore demand.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $117.82 per tonne, down $0.51 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $117.74 per tonne, down $0.51 per tonne. Fastmarkets' index for iron ore 62% Fe low alumina...Read More
Bad weather is weighing on domestic rebar demand in China, but prices were unchanged on Tuesday July 23 with the strength in the futures market being sustained.Domestic Eastern China (Shanghai): 3,970-4,000 yuan ($577-581) per tonne, unchangedNorthern China (Beijing): 3,900-3,930 yuan per tonne, unchangedVarious parts of northern and southeastern China were inundated with heavy rain in the last co...Read More
Rising freight rates offset the benefit of a 3.5% increase in chrome ore prices in terms of producer sales in the week to Friday July 19, market sources told Fastmarkets. Chrome ore prices jumped on Friday amid rising nickel prices and stronger sentiment around the stainless steel market. Fastmarkets' chrome ore South Africa UG2 concentrates index basis 42%, cif China, rose by $5 per tonne, o...Read More
Jordan Roy-ByrneIt was a huge week for the gold stocks. GDX gained nearly 7% while GDXJ surged over 10%. Gold hit $1450/oz after Thursday before selling off Friday. Silver met the same fate on Friday but managed to close the week up over 6% and at a new 52-week high. Let's take a look at the current technicals.Gold closed the week just below $1427/oz. If it remains above $1420-$1425, then it i...Read More
Expected interest rate cuts by all the central banks is supporting gold at the moment. European central bank is expected to cut interest rates in September. Trade war theme is still there. In short, all the factors are bullish for gold. Investment demand is on the rise with passing of each week. Economic growth news will be the key. Measures (other than interest rate or different forms of quan...Read More
Both the Chinese domestic and export ferro-silicon prices jumped up by around 5% week on week on Wednesday July 17 on improved demand and tight supply, while US market participants view the stabilizing European price as a hint that the US price is close to reaching a bottom. An uptick in ferro-silicon demand pushed the Chinese domestic market up by 4.8% while the export price increased by 5.1%.US...Read More
China's stainless steel prices are set to come under pressure from rising supply, but with the Shanghai Futures Exchange set to launch its futures for this segment, the spot market could be in store for more liquidity as well as fluctuation.Rising capacity China's stainless steel mills are making more investments in infrastructure amid an outlook for steady growth of consumption in the country in...Read More
Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWee...Read More
Join Mike Maloney for a follow up from last week's video on the extreme event occurring in silver. You'll see the level of accumulation has only struck these levels before twice since 1969...what does it all mean?Michael Maloney is a precious metals investment expert and historian. He is the founder and owner of GoldSilver.com, a global leader in gold and silver sales/storage and one of the world'...Read More
* GRAPHIC-2019 asset returns:* LME nickel stocks touch lowest since January 2013 (Adds closing prices)By Zandi ShabalalaLONDON, July 23 (Reuters) - Nickel slipped on Tuesday andanalysts said prices that were still near one-year highs for themetal used to make stainless steel were not supported by mostfundamentals.Benchmark nickel on the London Metal Exchange (LME)ended 0.9% lower at $14,170 per to...Read More