The South American flat steel import market remained uneventful during the past week, as participants in Brazil, the largest country in the region, kept away from spot deals, and prices from China, the most active seller, were still significantly higher than those locally.Fastmarkets' assessment for hot-rolled coil prices in South America was at $565-575 per tonne cfr on March 29, the same le...Read More
Fastmarkets proposes to use its 65% Fe Brazilian Fines Index, cfr Qingdao (MBIOI-65-BZ) as the base price for its Direct Reduced (DR)-grade Iron Ore Pellet Premium Middle East reference. Currently, Fastmarkets' 62% Fe Fines Index, cfr Qingdao (MBIOI-62) is used as the base price. The proposed move follows a shift in the market to 65% Fe fines as the base price for some pellet contracts....Read More
Turkish steel mills continued to remain out of the deep-sea scrap market at the end of the week due to the uncertain political situation in the country, sources said on Friday March 29.The Turkish lira was still very volatile against the US dollar because of the political instability and Turkish steel producers preferred to wait for the results of Sunday's mayoral elections before m...Read More
Turkish miners are seeing their profit margins fluctuate daily, as the Turkish lira swings wildly against the dollar. After a long period of stability since the country's financial crisis a year ago, volatility has returned to the Turkish lira over the last week, as it gains or loses up to 5% by the day. On March 22 the lira fell from 5.47 to the dollar, to a low of 5.83 to the dollar. The currenc...Read More
The price of shredded ferrous scrap into India inched down this week following deals done at lower levels, sources said on Friday March 29.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India was $334.38 per tonne cfr on March 29, down from $335.75 per tonne cfr on March 22. This week deals were heard for shredded done at $333, $335 and $337 per tonne cfr. The lowes...Read More
Prices for light iron steel scrap in the United Kingdom were rolled over for a second week on Friday March 29 amid steady trading, with relatively tight availability in some areas and regular business going overseas, sources told Fastmarkets.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?90-110 ($118-144) per tonne on March 29. This price range...Read More
Seaborne coking coal prices ended the week lower in line with market participants' expectations.A cargo of premium low-vol hard coking coal was traded at around $202 per tonne cfr China, while an offer for a shipment of premium mid-vol materials was made at $205 per tonne fob Australia, sources told Fastmarkets on Friday March 29.A cargo of second-tier hard coking coal was heard offered at around...Read More
The London Metal Exchange has announced new warehouse reform proposals - the friendliest to warehousers in seven years - that aim to make LME warehousing attractive again and encourage more metal onto the exchange.In a discussion paper sent to members on Friday March 29, the exchange proposed relaxing queue-based rent capping (QBRC) to 80 days, lower rent and Free On Truck (FOT) fees, as well as m...Read More
Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Friday March 29, bolstered by positive sentiment emerging out of recent US-China trade talks and gains in copper futures amid strong volumes.Price action in the red metal returned to levels above $6,400 per tonne over the morning, with more than 4,700 lots changing hands by 9:20am London time. ...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 Friday March 29:Antimony MB free market regulus, $/tonne: $7,200-7,500 per tonne from $7,300-7,600Antimony MMTA standard grade II, $/tonne: $7,050-7,450 per tonne from $7,250-7,550Chromium MB free market alumino-thermic, $/tonne: $8,500-9,000 per tonne...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves. Read More
Positive headlines regarding continuing US-China trade talks have fueled a recovery in global risk sentiment so far on Friday March 29, subsequently providing support to three-month base metals prices on the London Metal Exchange.Nickel and zinc led the complex higher, both up by 0.8%, while copper followed close behind with a gain of 0.7%. Lead, tin and aluminium saw more moderate increases this...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday Marcy 29:Aluminium ingotDuty paid delivered works...Read More
Ferrous scrap prices in Asia have started to decline on weakening markets for billet and long steel products downstream, sources told Fastmarkets MB this week.The decreases came despite buyers in Vietnam, Taiwan and South Korea placing bookings cargoes to replenish their inventories. Steelmakers in Vietnam and South Korea in particular booked large volumes.Scrap prices are expected to slide furthe...Read More
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There are a lot of articles out there touting the worth of Cameco (TSX:CCO)(NYSE:CCJ) and Encana (TSX:ECA)(NYSE:ECA). Both stocks are undervalued, and both have promising futures ahead of them.But there’s a nasty word called recession being used a lot lately, too. So, honestly, if you’re looking to make any new investments, you may be willing to only put a bit into one of these com...Read More
Earlier this week I'd discussed the response to yield curve inversions in the United States and Canada. This sparked a sell-off late last week and has generated some anxiety in the investing world. The spot price of gold and silver experienced an uptick after the bearish signal, but momentum has since tapered off.Economic anxiety and a commitment to low rates from central banks equals a bullish en...Read More