The London Metal Exchange has approved Minara cobalt briquettes produced at Glencore's Murrin Murrin nickel-cobalt operations in Australia for delivery against the exchange's physically settled cobalt contract.Murrin Murrin produces about 3,000 tonnes per year of cobalt briquettes. The LME suspended brand-listing fees for new cobalt brands in March last...Read More
Here are five Fastmarkets stories you might have missed on Thursday March 19 that are worth another look.Automobile manufacturers General Motors (GM) and Mercedes-Benz have enforced "collective holidays" at their Brazilian operations starting from March 30, in response to the novel coronavirus outbreak (2019-nCoV), the companies said on Wednesday March 18.Japan's demand for aluminium is the highes...Read More
Domestic prices in Europe for hot-rolled coil have fallen by ?,?7.31 per tonne day on day following a slump in demand, sources told Fastmarkets on Thursday March 19.Demand for flat steel drastically decreased after a number of automotive manufacturers temporarily closed some or all of their operations due to the 2019-nCoV coronavirus pandemic.Fastmarkets' daily steel hot-rolled coil index, domesti...Read More
ArcelorMittal will temporarily idle blast furnace (BF) A in Asturias and some other equipment "in around 15 days" in Spain, the company's spokesman told Fastmarkets on Thursday March 19.ArcelorMittal Asturias operates two BFs with a total capacity of 4.7 million tonnes per year, according to Fastmarkets' Capex quarterly service.The steelmaker will also stop operations at one of its two sinter plan...Read More
Here is what's new today on INK Ultra Money. Canadian Insider Ultra Club members have access to both premium and free content all the time. If you are not a Canadian Insider Club Ultra member, get full access to Real Vision and INK Research premium videos and see what stocks insiders are buying now by joining us. Use coupon code SPRING20 for a $100 discount off a new 2020 membership (renewals wil...Read More
Automotive manufacturers in Europe have announced temporary production shutdowns at sites across the continent because of the problems being created by the measures taken by governments to restrict the spread of the 2019-nCoV coronavirus pandemic.On Wednesday March 18, BMW, Toyota and Jaguar-Land Rover listed their sites that were intended for closure, while previous shutdowns included Groupe PSA,...Read More
Steel billet import prices in Egypt fell in the week to Thursday March 19, but there was no resulting pick-up in demand, sources told Fastmarkets.The spread of the novel coronavirus (2019-nCoV) in Egypt has caused trade to decrease significantly, and many offices have been closed, sources told Fastmarkets.As of March 19 there were 210 confirmed infections in Egypt, with si...Read More
Turkish rebar and wire rod export markets remained sluggish over the past week due to the global spread of the novel coronavirus (2019-nCoV) outbreak, sources told Fastmarkets on Thursday March 19.Apart from one or two position sales by traders to Asia and the United States, there have been no significant rebar sales in the past two weeks, sources said.Steel producers were offering rebar...Read More
The Turkish deep-sea scrap import market was quiet on Thursday March 19, despite a sharp decrease in prices the day before, sources have told Fastmarkets.On March 18, a steel mill in the Marmara region booked a Canadian cargo, comprising 18,000 tonnes of HMS 1&2 (90:10), 20,000 tonnes of shredded and 12,000 tonnes of plate and structural (P&S) scrap, at an average price of $255 per tonne cfr.Marke...Read More
Prices for bulk ferrous scrap cargoes imported into Bangladesh have fallen over the past week amid a deterioration in international scrap prices and heightened disruption created by the 2019-nCoV coronavirus pandemic, market sources told Fastmarkets on Thursday March 19.Bangladesh has provided a rare bright spot for bulk scrap sellers over recent weeks, with a strong local steel market and high co...Read More
Seaborne iron ore prices dropped on Thursday March 19, though uncertainty about supply persisted and the futures prices on the Dalian Commodity Exchange regained some losses made earlier in the morning. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $91.36 per tonne, down $0.35 per tonne 62% Fe low-alumina fines, cfr Qingdao: $92.37 per tonne, down $0.83 per tone58% Fe fines high-grade pr...Read More
Steel billet import prices in Egypt fell in the week to Thursday March 19, but there was no resulting pick-up in demand, sources told Fastmarkets.The spread of the novel coronavirus (2019-nCoV) in Egypt has caused trade to decrease significantly, and many offices have been closed, sources told Fastmarkets.As of March 19 there were 210 confirmed infections in Egypt, with si...Read More
(March 18, 2020)Before we look at tonight's charts I would like to take a minute and explain to our new members how we manage the different portfolios. We have 3 different portfolios, the Kamikaze, Leveraged and the PM Stocks Trade portfolios with each having $100,000. That $100,000 in each portfolio is then broken down into $5000 increments for each trade giving us a total of 20 trades for each...Read More
By: Gary Savage As I have said before, this will form a final 4-year cycle low, a bounce, then retest of the lows again but then..https://blog.smartmoneytrackerpremium.com/Read More
By: Ira EpsteinGold $200 an ounce from the highs. Liquidity needs. Technically speaking, PAY ATTENTION: ranges are starting to narrow, innately -- but volatility is being taken out:Read More
The U.S. dollar has been one of the few big winners lately, but this is hardly a good thing. If the greenback continues to strengthen, it will hurt U.S. multinationals whose overseas revenues are reckoned in currencies that would be falling. In addition, all who owe will need to repay their loans in dollars more dear than at the time they were borrowed. And it will sink prices for a broad vari...Read More
I had mentioned long before that there will be a big disconnect between future price of gold and silver and physical price of gold and silver. Yesterday physical price of silver was much higher than silver future. One three reasons why I have been telling to only invest in physical gold and physical silver for your retirement. Physical silver price was much higher than future price. One can trad...Read More
Prices in the Commonwealth of Independent (CIS) export billet market slumped on Thursday March 19 following the sharp drop in import steel scrap prices in Turkey a day earlier.Russia's Abinsk Electric Steel Works offered billet at $360-365 per tonne fob Black Sea, against $390-392 pertonne heard earlier in the week, while other CIS-based mills adopted a 'wait-and-see' mode."We are not offering at...Read More
Prices in Southeast Asia's steel billet market were unchanged despite a slump in emerging market currencies following investors' preference for haven assets in uncertain economic conditions, Fastmarkets heard.Fastmarkets' daily price assessment for steel billet, import, cfr Southeast Asia - which mainly looks at 120-150mm 5sp grade billet sold into Manila - was $400-410 per tonne on March 19, unch...Read More