A tighter supply-demand balance for iron ore at Chinese ports coupled with sharp price decreases in the seaborne market have led to the steelmaking raw material being sold at large premiums at the docks in China.Fastmarkets' implied China port price for 62% Fe iron ore fines, fot Qingdao was $10.18 per tonne higher than its index for 62% Fe iron ore fines, cfr Qingdao on August 5. This is the wide...Read More
Demand for flat steel products in Turkey was weak in August because of the seasonal summer slowdown as well as falling prices, market participants have told Fastmarkets.And local producers have now filled their order books until late October, they said on Thursday September 5.Turkish steel prices increased on May 17 after the import duty into the United States, which was applied at a rate of 50% i...Read More
The domestic price for Brazilian steel rebar dropped for the fourth consecutive month in September, with apparent long steel consumption faltering, smaller producers increasing the discounts granted to customers, and ferrous scrap costs holding steady.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, monthly, delivered Brazil, was 2,125-2,300 Reais ($519-561) per tonne on...Read More
Global ferrous scrap prices plunged worldwide over the week ended Friday September 6, with buyers expecting more price falls in the near term after key Turkish mills bought cargoes at prices lower than the latest previous transactions.Key buyers in Turkey, Vietnam and South Korea were looking for bargains and bought cheap imported cargoes, but other market participants have remained in wait-and-se...Read More
Flat steel prices in the Brazilian domestic market have fallen in early September, with sellers granting discounts on large batches of inventory material, sources have told Fastmarkets.Fastmarkets' price assessment for steel hot-rolled coil, domestic, monthly, exw Brazil, was 2,250-2,470 Reais ($549-603) per tonne on Friday September 6, down from 2,470-2,517 Reais per tonne a month earlier.The pri...Read More
Prices of austenitic alloy steel scrap in the UK domestic market were stable this week at last week's closing level amid relatively stable nickel prices, sources told Fastmarkets on Friday September 6. A surge in the nickel contract on the London Metal Exchange on August 30 of 9.6% day on day resulted in higher scrap prices, which in turn widened upward the range of scrap prices for that week. Nic...Read More
Canadian (British Columbia) development story.Developing a 4 million oz. (4.5 gpt) underground mine.Highly undervalued versus their potential cash flow at higher gold prices.Excellent risk/reward profile. Stock Name Symbol (US) Type Risk Share Price (US) FD Shares FD Mkt Cap (8/29/2019) Barkerville Gold Mines OTCPK:BGMZF Gold Moderate $0.31 603M $187M I've followed this stock for years. I thi...Read More
Since 2009, the world's five big central banks have purchased $12.4 trillion in assets.Central banks are going to continue with more rate cuts and fresh bond-buying to keep the markets afloat.Even if a trade agreement is reached, the currency wars will continue and the necessity of negative real interest rates will not go away.Originally published September 5, 2019 The stock market is rallying...Read More
Following a flip in global steel and ferrous trade flow trends last year caused by economic jitters in Turkey, trade defenses by the United States and production cuts in China, this year it is steel prices that are turning upside down. Hot-rolled coil (HRC) prices are now below rebar prices in a phenomenon rarely seen outside of the Chinese domestic markets. HRC import prices in Vietnam have...Read More
The whole battery supply chain will benefit from lithium benchmark pricing, Fastmarkets head of battery raw materials research William Adams says as he explores what is driving auto manufacturers to support this pricing mechanism. The auto industry is going through a period of unprecedented change due to companies introducing electric vehicles (EV) into their portfolios alongside internal combusti...Read More
A tighter supply-demand balance for iron ore at Chinese ports coupled with sharp price decreases in the seaborne market have led to the steelmaking raw material being sold at large premiums at the docks in China.Fastmarkets' implied China port price for 62% Fe iron ore fines, fot Qingdao was $10.18 per tonne higher than its index for 62% Fe iron ore fines, cfr Qingdao on August 5. This is the wide...Read More
Aluminium prices on the London Metal Exchange remain at historically low levels despite low stock levels, high premiums and sustained elevated raw materials costs. The LME aluminium three-month price has failed to trade over $2,000 per tonne since 2018 and closed at just $1,775 per tonne on Wednesday September 4. Yesterday's close price was 9% lower than the 2019 high of $1,951 per tonne from Marc...Read More
SD Friday Wrap: The fundamentals say silver is going up, and the technicals are quickly reaching the ground floor...What a price swing!Let's see here: From the low on Tuesday ($18.36) to the high on Wednesday ($19.75) we saw a 7.57% move up in price.Wow!Was the cartel really just gonna let that fly?Nope!So from the high on Wednesday ($19.75) to the low on Friday ($18.04) we saw an 8.65% move down...Read More
Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | Android | Email | Stitcher | RSSWhy has silver plunged, is silver going to plunge even more, or will price move higher once again? Here are those answers and more...Mike & Half Dollar hold Silver Doctors Live on Wednesdays at 12:00 p.m. EST, but there is just so much going on right now that we want to start bringing viewers more...Read More
The London Metal Exchange three-month nickel price closed higher on Friday September 6, with fresh buying momentum prompting the metal's forward spreads to tighten, while a steady incline in lead futures led the metal to top afternoon gains. Volumes traded in nickel over the afternoon were moderate at 8,600 lots, while average daily turnover returned to the August average of below 10,000 lots. Mor...Read More
Barring copper and zinc, base metal stocks at Shanghai Futures Exchange-approved warehouses fell in the week to Friday September 6, with the biggest percentage fall in lead stocks, which tumbled by 16.3% or 5,081 tonnes to 25,998 tonnes. The largest outflow in lead inventories was registered at Zongchu Wuxi's warehouse in Jiangsu, which delivered out 2,863 tonnes leaving 8,641 tonnes of material,...Read More
Prices for seaborne premium hard coking coal on an fob Australia basis edged up on Friday September 6 while the other segments remained stable, leaving buyers and sellers on the lookout for factors that could set a more definite tone for the market. Fastmarkets indicesPremium hard coking coal, fob DBCT: $151.43 per tonne, up $2.34 per tonne Premium hard coking coal, cfr Jingtang: $169.01 per tonne...Read More
A unique situation is emerging in the gold market now.Neither the dollar nor the real interest rate has dropped so much that this could explain the current price of gold.For the steady growth of the gold price, one still needs something more.A unique situation is emerging in the gold market now, which means either the complete elimination of the well-established dependencies between the price of g...Read More
Resolute Mining produced just over 175,000 ounces of gold in H1, the majority in Africa.The operating expenses in Africa continue to trend down, while Resolute is taking action to bring the Ravenswood mine expenses down.The acquisition of another low-cost gold mine in Senegal in August will push the annualized production to 450,000 ounces of gold from next year on.If Resolute plays its cards right...Read More
The London Metal Exchange three-month nickel price closed higher on Friday September 6, with fresh buying momentum prompting the metal's forward spreads to tighten, while a steady incline in lead futures led the metal to top afternoon gains. Volumes traded in nickel over the afternoon were moderate at 8,600 lots, while average daily turnover returned to the August average of below 10,000 lots. Mor...Read More