The London Metal Exchange cash/three-month nickel spread was trading in a $79 per tonne backwardation at the close on Tuesday August 27, its narrowest since July 2007 when it traded in a backwardation of $199 per tonne. Historically trading in a healthy contango, nickel's forward curve has recently become prone to pockets of tightness, attributed mostly to technical trading activity. It most recen...Read More
China's hot-rolled coil prices tumbled again on Tuesday August 27 in both the spot and futures markets, with the possibility of easing production cuts in the north leaving participants with a bearish outlook for prices amid trade tensions with the United States.DomesticEastern China (Shanghai): 3,600-3,630 yuan ($504-508) per tonne, down 50-70 yuan per tonneNorthern China (Tangshan): 3,600 yuan pe...Read More
The seaborne coking coal market was quiet on Tuesday August 27, leaving market participants keenly anticipating the next transaction to gauge the price direction.Fastmarkets indicesPremium hard coking coal, fob DBCT: $154.28 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $166.33 per tonne, up $0.08 per tonne Hard coking coal, fob DBCT: $138.76 per tonne, unchangedHard coking coal, cfr...Read More
When will the cat be let out of the bag leading to an extensive precious metals rally? Here's Chris with the details...by Chris Vermeulen of The Technical TradersWe thought we would share some really important data and charts with all of you precious metals bugs/traders (like us). You probably remember our October 5th, 2018 call in Gold that has set off an incredible series of events for all of...Read More
As has been the trend for months, U.S. - China relations continue to devolve, and precious metals are loving it...by Matt From Silver Fortune via Silver FortuneAs has been the trend for months, U.S. - China relations continue to devolve, and precious metals are loving it.Read More
Silver is breaking-out right now on Tuesday, August 27th, and we're up 7% from just one week ago. Here are the details...Silver is breaking-out, punching-through $18 per ounce!Check out the surge on silver's daily chart:Yesterday I said I think we move to $18.50 rather quickly, and it looks like we are doing that.Check out the sweet action on silver's 15-minute chart:We're up some 7% since just la...Read More
From $14.38 to over $17 in less than 4 months, let's see if the silver bear market is finally over...by Jason Burack via Wall St For Main StJason talks about silver and how it has rallied since May 17, 2019 from $14.38 (US Dollars) to over $17 over a 17% gain in less than 4 months.The gold to silver ratio is also slightly above 87.Commit to tipping us monthly for our hard work creating high level,...Read More
"...a 15% decline in silver production..."by Steve St Angelo of SRSrocco ReportAs the silver price rally continues, mine supply from three of the top producing countries fell significantly this year. Peru, Chile, and Mexico all reported declines in silver mine supply in the first half of the year, with Peru suffering the largest dropoff. With these three countries accounting for 45% of total g...Read More
The export market for Commonwealth of Independent States (CIS)-origin hot-rolled coil and cold-rolled coil weakened during the week ended Monday August 27 amid anticipated further price declines and high trader stocks.Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS was $450-460 per tonne on Monday, falling by $20 per tonne week-on-week. "We see that mills are stru...Read More
The London Metal Exchange cash/three-month nickel spread was trading in a $79 per tonne backwardation at the close on Tuesday August 27, its narrowest since July 2007 when it traded in a backwardation of $199 per tonne. Historically trading in a healthy contango, nickel's forward curve has recently become prone to pockets of tightness, attributed mostly to technical trading activity. It most recen...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday August 27 that are worth another look.The whole battery supply chain will benefit from lithium benchmark pricing, according to Fastmarkets head of battery raw materials research William Adams. The auto industry is going through a period of unprecedented change due to companies introducing electric vehicles into their portfolios...Read More
Hilmar Rode will step down as chief executive officer of Nyrstar on September 30 to pursue other opportunities, the miner-smelter announced on Tuesday August 27, noting that the decision was a "mutual agreement."Rode, who was appointed Nyrstar CEO in December 2016, will also cease to be a director of Nyrstar from September 30, the company noted."Daniel Vanin is the chief...Read More
Ball Corporation has launched a pilot for infinitely recyclable aluminium cups in the United States, marking a further sign of customer-driven demand for sustainable products.From September and throughout 2020, Ball will roll out a number of pilots with major indoor and outdoor venues and concessionaires across the US. The cup is currently available in a 20-oz size and Ball aims to introduce addit...Read More
The publication of Fastmarkets' Shanghai copper bonded stocks assessment was delayed due to an administrative error. Fastmarkets assessed copper stocks in the Shanghai bonded zone as normal on Monday August 26. However, the calculation was not published until Tuesday August 27 due to an administrative error. The Fastmarkets price book and database have now been updated and the data has been b...Read More
Tin's three-month price on the London Metal Exchange continued its downtrend during morning trading on Tuesday August 27, with prices near the 2015-low and down 2% on the morning, while a fresh cancelation of just over 17,000 tonnes prompted a slightly higher copper price. At around $15,625 per tonne, three-month tin futures have fallen by around 12% in August, shedding some $1,900 per tonne of it...Read More
Proposed site plan for the Wheeler River uranium project in Saskatchewan. (Image: Denison Mines)SASKATCHEWAN - Denison Mines of Toronto says the test results of in situ recovery of uranium from the Wheeler River project are positive. Denison is the 90% owner and operator of the project located in the eastern part of the Athabasca Basin, and JCU (Canada) Exploration Co. holds the remaining 10%.The...Read More
Prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have decreased during the week ended Tuesday August 27 on lower offers, with demand yet to recover as buyers hold back until prices reach a bottom. The market is expected to improve after prices stop falling, according to sources. UAE Offers for imports of hot-rolled coil (HRC) from China to the UAE were heard a...Read More
Prices for steel rebar and billet in the United Arab Emirates have gone down over the past week, with demand remaining poor, sources said on Tuesday August 27.Market participants believed that demand would improve after the price stopped falling, because buyers did not want to book when the prices were still on the way down.Domestic rebarEmirates Steel is the UAE's largest producer, and was offeri...Read More
Turkey produced 19.919 million tonnes of crude steel in January-July 2019, down from 22.184 million tonnes in the corresponding period of last year, the Turkish Steel Producers Association (T???oeD) said last week.The 10.2% drop in output was largely attributed to subdued end-user demand and weakening export markets for Turkish steel. The European Commission (EC) imposed definitive safeguard...Read More
China's hot-rolled coil prices tumbled again on Tuesday August 27 in both the spot and futures markets, with the possibility of easing production cuts in the north leaving participants with a bearish outlook for prices amid trade tensions with the United States.DomesticEastern China (Shanghai): 3,600-3,630 yuan ($504-508) per tonne, down 50-70 yuan per tonneNorthern China (Tangshan): 3,600 yuan pe...Read More