Nations have gone to war over it.Men have died in pursuit of it.Brothers have stabbed each other in the back for it.Gold has been the most coveted metal on the planet since the dawn of time. Yet despite all of our wicked desire for the yellow metal, there's one fundamental question we still can't answer about gold: Where did it come from?For decades, astronomers believed gold was formed in the cru...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 Index shot up 46.62 points or 4.6% to close the week at 1071.14 points.Momentum indicators remain volatile. MACD rocketed back up to 5.15 and triggered a new buy signal. RSI rebounded 15.5 points to 58.69.Support is now at 1047.58 (lower Bollinger band) and 1051.34 (50-day...Read More
The spodumene price cif China halted its multi-month downtrend at the end of September after customer inquiries for spodumene sourced from Western Australia increased, and sources told Fastmarkets they expect further rises.Spodumene mined from hard rock in Western Australia is a feedstock material used in the production of lithium chemicals that go into batteries for electric vehicles (EVs). Most...Read More
Most Turkish flat steel prices decreased toward the end of September 2020 and market sources expected further price reductions to come amid price falls for raw materials, Fastmarkets heard on Monday October 5.Turkish flat steel producers were fully booked through September, with trading sources reporting that the market was moderate for most of the month because of strong demand in Asia at the beg...Read More
Domestic prices for hot rolled coil in Europe were fairly stable day on day on Monday October 5, although buyers have been holding back from deals because of the long lead times on domestic coil, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot rolled coil index, domestic, exw Northern Europe, at ?,?493.33 ($577.94) per tonne on Monday October 5, up by ?,?2.30 per tonne fro...Read More
Domestic prices for steel hot-rolled coil across Europe inched up over the week to Friday October 2, although the price momentum has slowed down due to muted trading activity. Sentiment in the market, meanwhile, was largely upbeat over the assessment period. Fastmarkets calculated the daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?491.03 ($575.24) per tonne on Friday O...Read More
Here are five Fastmarkets stories you might have missed on Monday October 5 that are worth another look.Tata Steel Europe has strongly denied reports that it will sell its UK-based asset to Chinese steel giant Jingye.After United States sanctions cut off supplies of microchips...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow were largely stable in the week to Monday October 5 on seasonally good demand from the construction sector, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was at 40,000 roubles ($510.93) per tonne on October 5, including 20% VAT, narrowing fr...Read More
Rebar buyers in Singapore continued to exhibit limited appetite for imported materials in the week to Monday October 5, with market sources saying prices had slipped due to the recent decline in global scrap prices.Offers for Turkish rebar were at $470-475 per tonne cfr Singapore on a theoretical weight basis, according to a major Singaporean buyer, which is down by $10-15 per tonne week on week....Read More
Buyers in the two biggest consumer markets have either been selling their holdings or borrowing against them. Continue...Read More
Turkish steel producers stepped away from the deep-sea scrap market on the first working day of the week, while simultaneously negotiating lower prices, sources said on Monday October 5.Steel mills in Turkey had booked three deep-sea cargoes at the end of last week, putting the HMS 1&2 (80:20) price at $284 per tonne cfr for European material and at $289 per tonne cfr for Balti...Read More
Tata Steel Europe has strongly denied reports that it will sell its UK-based asset to Chinese steel giant Jingye. This weekend numerous reports appeared in the British press indicating that Chinese steel company Hebei Jingye Group had expressed interest in acquiring Tata Steel's flat steelmaking asset, Port Talbot. Tata Steel called this information "speculative" in a comment to Fastmarkets on Mon...Read More
In a world buffeted by political and social "noise," sector expert Michael Ballanger outlines his strategy for maximizing the worth of his portfolio. Before I wade into my Q4 strategy analysis, I have to tell you that prior to last Tuesday's "debate," I was leaning toward a "neutral" investment strategy largely based upon the 2016 outcome where heavily favored Hillary Clinton was upset by the Tr...Read More
New Found Gold reported it intercepted 41.2 g/t gold over 4.75 meters and 25.4 g/t gold over 5.15 meters at its new Lotto Zone discovery at its Queensway Project in Newfoundland. Stock photoIn a news release, New Found Gold Corp. (NFG:TSX.V) announced assay results from the first hole drilled targeting its newly discovered high-grade gold Lotto Zone. The results are the first to be reported from...Read More
Hybrit, the fossil-free steel initiative joint venture by Swedish steelmaker SSAB, iron-ore producer LKAB and power company Vattenfall, has received 22 million Swedish Krona ($2.4m) from the Swedish Energy Agency for a comprehensive feasibility study, it said on Monday October 5. The pilot plant for the hydrogen direct reduction of iron ore started operation in Lule??, Sweden, on 31 August. P...Read More
Here are five Fastmarkets stories you might have missed on Monday October 5 that are worth another look.Tata Steel Europe has strongly denied reports that it will sell its UK-based asset to Chinese steel giant Jingye.After United States sanctions cut off supplies of microchips...Read More
Prices in the Black Sea export steel slab market softened in the week to Monday October 5 on the weakening of flat steel prices in the region as well as falling scrap costs in Turkey, which is one of the major sales outlets for CIS slab.The weekly price assessment for steel slab, export, fob Black Sea, CIS, was $445-460 per tonne on October 5, down week on week from $460-472 per tonne.Most recent...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Having found it easier to increase prices than their counterparts in Europe and the United States during the past few months, Asian stainless steelmakers now face a number of concerns.In the short term, Asian prices have moved down in recent weeks while those in Europe and the US are on the up. This is mostly a reflection of...Read More
Technical analyst Clive Maund charts recent movements in the gold market and what they may indicate going forward.In the last Gold Market update we had thought that it might break out upside from the Triangle that was forming, mainly because of its positive Accumulation line coupled with favorable seasonal factors, but instead, after moving sideways for a while, it broke down, as we can see on its...Read More
Gold is trading really close to its 2011all-time high. This is obviously a critical level for the future of goldprices.Historically gold in US dollars often clearssignificant all-time highs only some time after significant currencies like theEuro and British pound.This is mainly due to US dollar behaviourduring times of significant risk aversion, like we’ve had this year and 2008,for example...Read More