German steelmaker Salzgitter is to supply heavy steel plate for the Saint-Brieuc wind-power project off the French coast, the company said on Thursday November 12.Two subsidiaries of Salzgitter - Ilsenburger Grobblech and Salzgitter Mannesmann Grobblech - will deliver 50,000 tonnes of thermomechanically rolled plates for the offshore wind farm being built by Spanish group Navantia.The plate will b...Read More
Flat steel re-roller and coated coil producer Al Ghurair Iron & Steel, based in Abu Dhabi in the United Arab Emirates, was now offering hot-dipped galvanized coil at $850 per tonne for orders to be produced in February, Fastmarkets heard on Thursday November 12.The price for the material, which is of 1mm thickness with 275g per square meter zinc coating, was $50 per tonne higher than the company's...Read More
Steel rebar prices remained stable in Egypt over the week to Thursday November 12 amid very weak demand, sources told Fastmarkets.Demand for rebar and billet has been slow in the country since the imposition of a construction ban on May 25, however, the rules of the ban were eased on September 29.Still, buying was weak...Read More
Turkish domestic and import prices for steel billet have gone up over the past week on increasing scrap costs, sources said on Thursday November 12.The suppliers in the Commonwealth of Independent States (CIS) raised their billet offers to Turkish customers by around $5 per tonne to $435-440 per tonne cfr, while bids from...Read More
Turkish domestic long steel prices have gone down over the past week in line with the strengthening of the country's lira, sources said on Thursday November 12.The value of the Turkish currency rebounded sharply at the beginning of the week on news of the resignation of Turkey's economy minister and the replacement of the central bank's governor.Berat Albayrak, who is a son-in-low of national pres...Read More
Seaborne iron ore prices were down slightly on Thursday November 12 amid diminishing demand for steel reinforcing bar (rebar), sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $123.74 per tonne, down $0.82 per tonne62% Fe low-alumina fines, cfr Qingdao: $123.74 per tonne, down $1.26 per tonne58% Fe fines high-grade premium, cfr Qingdao: $114.41 per tonne, down $1 pe...Read More
China cfr seaborne coking coal prices increased across the board on Thursday November 12, while fob prices remained flat because of the ban on coal from Australia and a lack of alternatives in the spot market. Fastmarkets indicesPremium hard coking coal, fob DBCT: $104.40 per tonne, unchanged Premium hard coking coal, cfr Jingtang: $153.07 per tonne, up $4.12 per tonneHard coking coal, f...Read More
China's hot-rolled coil producers allocated limited volumes for export on Thursday November 12 despite falling prices in the domestic market.DomesticEastern China (Shanghai): 4,050-4,070 yuan ($612-615) per tonne, down 10 yuan per tonneSeveral sources in Shanghai said trading was moderate in the spot market on Thursday after sellers lowered their offers.One of them believes prices will weaken furt...Read More
China's domestic prices were unchanged on Thursday November 12 amid softer demand and lower market inventories. DomesticEastern China (Shanghai): 4,060-4,090 yuan ($613-617) per tonne, unchangedSome in the market cut their procurement rates on the expectation that spot prices would mirror down-trending futures.But sellers did not lower their offers since they had managed to sell a lot of cargoes i...Read More
The cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets...Read More
The cobalt alloy grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets...Read More
Fastmarkets reporters present the key themes and discussion points from the International Ferro-alloys Virtual Conference held on November 9-10.Strong recovery expected in 2021, but steel, ferro-alloys market unlikely return to pre-Covid levels Despite a quicker-than-expected recovery across certain regions following the economic fallout of the Covid-19 pandemic and expectations of a stronger reco...Read More
Cobalt hydroxide payables narrowed upward during the first half of this week with lower numbers fading while buyers continued to stock up. Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China tightened to 79.5-81% of the price for cobalt standard grade on Wednesday November 11, from 79-81% on November 6. "Buyers are finally squaring up to the idea, especially for long-term contra...Read More
China's stainless steel sellers cut both domestic and export prices over the past week in an attempt to generate more sales.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 14,200-14,900 yuan ($2,144-2,250) per tonne, down by 100 yuan per tonne from a week earlier.Trading houses were actively selling stainless steel due to their pessimistic outlook for prices in of December....Read More
Fast-rising costs for container freight on a number of major shipping routes are causing disruption in trade flows for minerals and metals alike, sources told Fastmarkets on Thursday November 12.The combination of fewer vessels on the water, an imbalance in trade flows to and from China and competition between cargoes has kickstarted a rapid increase in shipping costs, making it harder for sellers...Read More
China's secondary copper production will rise to 4 million tonnes in 2025, a metal recycling body said earlier this week.Secondary output of non-ferrous metals, which are widely used in consumer electronics, will reach 20 million tonnes that year, the China Nonferrous Metals Industry Association Recycling Metal Branch (CMRA) estimated. Of these, secondary output of aluminium, lead and zinc are pro...Read More
Warren Buffett’s conglomerate took a nasty fall in the first quarter of 2020, losing a collective US$54.5 billion during the period. Berkshire Hathaway had no recourse but to unload shares of losing investments, particularly all airline companies.Thanks to Apple’s and Amazon.com’s stellar performances, Buffett’s portfolio gained $34.5 billion i...Read More
Predicting a market crash is hard, even for people like Warren Buffett. He has seen so much of the market and capitalized from so many market crashes that many people just assume that Buffett can predict when the market is going to hit rock bottom.Sadly, that’s not how it works. The market is continuously evolving. Accurately predicting the market crash at its lowest point and the starting p...Read More
Generally, when we think of dividend stocks, we tend to lean toward the traditional dividend growers. Utility stocks, telecoms, and even bank stocks tend to come to mind at first glance. But what if I told you there was a sector where dividends were growing by high double to even triple digits over the last year? That sector, if you can believe it, is gold.Gold companies as income stocksAfter seve...Read More
Gangfeng previously held a 22.5% stake in the project company - Sonora Lithium - in addition to a 29.99% equity stake in Bacanora Lithium, the project operator.Read More