The iron ore market will be watching the rollout of China's policies and Chinese buyers' procurement strategies in the winter months to see what lies ahead for the steelmaking raw material, which has faced substantial price volatility this year. The winter heating season in China has become a crucial period for iron ore buyers and suppliers, with environmental protection a key aspect of China's 13...Read More

Gold futures turned lower on Wednesday, after the sharp rally in the past month to the highest levels since 2013, discouraged some potential buyers who are now waiting for a dip or some consolidation in prices in order to invest, analysts said. "Gold is simply consolidating its recent gains...and also trading inversely to the U.S. equity market," said Brien Lundin, editor of Gold Newsletter. When...Read More

The three-month price of nickel traded on the London Metal Exchange continued to outshine the rest of the base metals complex on Thursday August 29, up by 2.3% at the close to $16,445 per tonne, compared with yesterday's close at $16,085 per tonne.The LME cash/three-month nickel spread continued to trade in its widest backwardation for 12 years, at $99 per tonne at the close of trading, a marginal...Read More

Seaborne coking coal prices were largely steady on Thursday August 29 after the most-recent transactions sent fob Australia and cfr China prices for premium products in opposite directions.Fastmarkets indicesPremium hard coking coal, fob DBCT: $149 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $167.54 per tonne, unchanged Hard coking coal, fob DBCT: $134.01 per to...Read More

The three-month copper price on the London Metal Exchange increased slightly during morning trading on Thursday August 29, bolstered by a fresh cancellation of 24,425 tonnes, while the nickel-tin price differential continues to widen. The fresh cancellations in copper now total just over 59,000 tonnes, the bulk of which have occurred out of LME-registered warehouses in Asia. Yet the red metal...Read More

Gold and silver are on the move, and silver could jump from $18 to $21 without even blinking. Here's why...Sean from SGTreport interviews Bob Kudla on SGTreportBob Kudla, the founder of Trade Genius, joins me to discuss the impending fall of big tech Orwellian censorship, the rise of Bitcoin, gold and silver, and the total implosion of the Democratic Party. Read More

The divergence between a rising price and falling Volume is not a good sign in the near-term, despite the...by TraderStef via CrushTheStreet (connect with TraderStef via Twitter or at TraderStef's website)The price action in silver was lukewarm during the first half of the year, but the chart looks promising as gold led the way since June and lifted silver above the average All-In Sustaining Costs...Read More

It doesn't really matter if we back fiat money with gold. The REAL ISSUE has always been...by Steve St Angelo of SRSrocco ReportWhile the surging gold price has received most of the spotlight in the market, silver will outperform the king monetary metal over the longer term. Key fundamental factors make silver the more attractive asset and investment to own versus gold when we look closely at th...Read More

Turkish domestic rebar prices have seen a slight recovery because of the weakness of the country's lira, although demand for material was still poor, sources said on Thursday August 29.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey, was TRY3,000-3,030 ($515-521) per tonne on Thursday, up from last week's TRY2,970-3,030 per tonne ex-works, including 18%...Read More

The Turkish steel producers have remained quiet in the deep-sea scrap markets, expecting lower prices, after recently booking a number of cargoes for early-September deliveries, sources said on Thursday August 29.Most recent bookings involved US and UK cargoes sold at $270 per tonne cfr for HMS 1&2 (80:20), dragging the daily indices down by almost $12 per tonne on August 27.But the mills have low...Read More

Here are five Fastmarkets MB stories you might have missed on Thursday August 29 that are worth another look.The three-month nickel contract continued to outshine the rest of the London Metal Exchange base metals complex, rising by 2.3% at the close of trading on Thursday August 29.The iron ore market will be watching the rollout of China's policies and Chinese buyers' procurem...Read More

Gold futures rallied on Friday after China announced a round of retaliatory tariffs against U.S. products, prompting the precious metal to move up for the week and post a fourth consecutive weekly climb. China said it was preparing to raise tariffs in two batches on $75 billion in U.S. imports on Sept. 1 and Dec. 15, which would coincide with the dates that Washington is slated to increase import...Read More

Prices for all brass scrap grades continued to slide over the week to Wednesday August 28, with slow domestic demand and China's restrictions on scrap imports from the United States taking a toll on the market.Fastmarkets' assessment for the copper scrap No1 comp solids, discount, buying price, delivered to brass ingot makers, fell by 4 cents to $1.88-1.92 per lb on August 28, extending a dow...Read More

Mark Lowe left Nizi International, where he was head of base metals, in June after one year with the Luxembourg trading house, Fastmarkets has learned. The former MRI chief executive officer was hired in mid-2018 to help Nizi diversify...Read More

The three-month copper price on the London Metal Exchange increased slightly during morning trading on Thursday August 29, bolstered by a fresh cancellation of 24,425 tonnes, while the nickel-tin price differential continues to widen. The fresh cancellations in copper now total just over 59,000 tonnes, the bulk of which have occurred out of LME-registered warehouses in Asia. Yet the red metal...Read More

Markets remain nervous on Thursday August 29, especially since the next wave of US tariff increases on Chinese goods are set to come into effect on September 1 and the US yield curve is showing the deepest inversion since 2007, with the 30-year yield falling to a historic low on Wednesday. Apart from nickel and to a lesser extent lead, most base metals prices remain in low ground, seemingly becaus...Read More

Domestic stainless steel prices in China continued to fall over the past week amid soft demand.Fastmarkets' price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 14,900-15,300 yuan ($2,079-2,135) per tonne including value-added tax for the week ended Wednesday August 28, down 100 yuan per tonne from a week earlier. Stai...Read More

Market caution over developments surrounding the trade spat between the United States and China left metals prices on the Shanghai Futures Exchange mixed, with nickel being the best-performing contract during morning trading on Thursday August 29 amid supply uncertainties and strong speculative sentiment."Supply-side uncertainties continue to support nickel prices, with markets awaiting clarity ov...Read More

Turkish prices for hot-dipped galvanized coil (HDG) and color-coated coil decreased over the week ended Thursday August 29, with the market still slow because of falling prices, sources told Fastmarkets.The country's main export market, Europe, was still in its holiday season, so the export sector remained slow.Domestic pricesDemand in the country's local market was poor over the pricing week beca...Read More

Turkish prices for hot-rolled coil and cold-rolled coil (HRC, CRC) decreased over the week ended Thursday August 29, with demand remaining soft, sources have told Fastmarkets.Buyers wanted to wait to see when prices will reach a bottom before placing orders, while end-user demand was still subdued by the summer holiday season.HRC exportsTurkey's export market price for HRC decreased this week on l...Read More