The Europe-Asia ferrous scrap arbitrage could open once again with falling prices in Turkey prompting suppliers to look for alternative markets.Suppliers have increased the quantities of ferrous scrap available to steel mills in Vietnam and Taiwan, causing offers to drop by $5-10 per tonne.Offers for Europe-origin lower-quality heavy melting scrap (HMS) 1&2 came in at $335 per tonne cfr...Read More
Premium hard coking coal was offered lower on Wednesday February 27 while the rest of the seaborne market for the steelmaking raw material remained steady amid a dearth of activity.A cargo of unbranded materials was offered on trading platform Global Coal at $216 per tonne fob Australia during the day, sources told Fastmarkets. This is $2 per tonne lower than an offer of $218 per tonne fob Austral...Read More
China's domestic rebar prices rebounded slightly on Wednesday February 27 with buyers picking up the pace of their procurement. Domestic Eastern China (Shanghai): 3,750-3,800 yuan ($560-567) per tonne, up 10-20 yuan per tonneNorthern China (Beijing): 3,750-3,790 yuan per tonne, up 20 yuan per tonneAn improvement in weather conditions in eastern China has allowed more construction projects to resta...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday February 27* Copper -$192.16 (-1,288.92 yuan) Aluminium -$342.51 (-2,297.47 yuan) Zinc -$137.31 (-921.02 yuan) Nickel -$251.12 (-1,684.45 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Wednesday February 27:Minor metalsAntimony MB Chinese free market MMTA standard grade II, yuan/tonne: 47,500-48,500 yuan per tonne from 48,500-49,500 yuanBismuth MB free market, $/lb: $3.60-4.00 per lb from $3.70-4.20Cadmium MB free market min 99.99%, cents/lb: 137-146 per lb from 137-145Cobalt MB free...Read More
Key data from the Wednesday February 27 pricing session in Europe.Key drivers - Persistent supply worries involving a major supplier prompted short-covering and is expected to propel prices higher in the weeks to come. Ferro-titanium producers and traders have been getting more buying interest from Europe and the United States. With one producer typically offering at least 350 tonnes per month to...Read More
Following reports of a potential power shortage in one of China's major ferro-alloy production hubs in the second quarter of this year, market participants have downplayed any immediate impact on ferro-alloy prices in the country, saying they intend to adopt a wait-and-see stance in the run up to April.The city of Ulanqab in China's autonomous region of Inner Mongolia is expected to experience a s...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday February 27:Aluminium ingotLM24 pressure diecasting ingot: ?1,380-1,440 per tonne from...Read More
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Back in 2013 I recall having a bearish view on the stock market due to extremely bullish sentiment readings. The market completely ignored that, made a major breakout through 13 year resistance and continued running for years.Lesson learned.Turning to Gold, we find something similar during major breakouts in 2005, 2007 and 2009. In the chart below we plot Gold along with its net speculative positi...Read More
Silver has rallied significantly since hitting a multi-year low in late 2018 to be trading at over US$15.60. This — along with some analysts claiming that the white metal could rise to as high as US$17 an ounce during 2019 — has sparked considerable interest in silver miners. One that surged substantially because of these and other positive developments is First Majestic Silver (TSX:FR...Read More
Stocks that are trading at or around 52-week highs present investors with a special choice.If they are already shareholders, do they lighten up a bit on their position and take some profits, or do they do nothing?If they do not own the stock, then they have to decide if they've missed the boat or if there is big upside still.In this article, I will discuss two stocks that are trading at or around...Read More
Economic news and data points have been anything but clear in the last few months, with the U.S. Fed chair signaling that we should expect rising rates back in 2018 to a more cautious and hawkish tone these days. This has sent the markets on a volatile ride between fear and exuberance.Throughout this, gold stocks have held up nicely. And I still think they are a good place to be in this environmen...Read More
The EV (electric vehicle) boom is coming, but are you invested? Below you will find two of the best Canadian stocks (and two American ones for comparison) to give domestic investors both an indirect and a direct route to EV exposure. Let's take their market fundamentals for a test drive and decide which stocks should be parked in a portfolio and which should be left on the forecourt.Lithium Americ...Read More
Gold mining companies have broadly outperformed stock markets since the beginning of the fourth quarter last year, as the price of gold bullion has now climbed above the $1,300 per ounce threshold.Shares of companies like Goldcorp, Barrick, Yamana, and the perhaps even lesser-known Kirkland Lake Gold have helped to lead the way, with shares in each of those gold producers posting gains at least in...Read More
Back in 2013 I recall having a bearish view on the stock market due to extremely bullish sentiment readings. The market completely ignored that, made a major breakout through 13 year resistance and continued running for years.Lesson learned.Turning to Gold, we find something similar during major breakouts in 2005, 2007 and 2009. In the chart below we plot Gold along with its net speculative positi...Read More