American politics is so broken that we couldn't even manage the simplest common-sense containment strategy of mandating universal mask-wearing in any indoor space.Continue...Read More
The annual rate of inflation for 2019 was 2.3%. So this means that a depositor with a Wells Fargo savings account is LOSING 1.5% per year.Continue...Read More
The Trump Administration's stance on Syria and Bashar al Assad goes against President Obama's and Sec. of State Clinton's policy since 2011. Ben takes a look at how this new policy is contrary to media narrative about Syria over the past decade.Read More
The economic impact of the COVID-19 pandemic, with blowout deficits and massive money printing, will create the perfect storm for precious metals and will launch a massive bull market for mining equities, according to one junior exploration executives.In an interview with Kitco News during the Mines and Money online connect virtual mining conference, Ivan Bebek, executive chairman of Auryn Resourc...Read More
Since 2010, investors from India, China, United States, Germany, and Canada purchased a tad bit more than two billion ounces of silver bar and coin. Continue...Read More
Striking workers have put all industrial action at Tata Steel IJmuiden on hold until Friday June 26 to negotiate with management, Dutch trade union FNV Metaal said this week. All industrial action at Tata Steel IJmuiden has been temporarily stopped until Friday 1 pm local time after the company invited unions to the negotiation table, FNV said on Wednesday. "Due to the pressure of the strikes, the...Read More
German steelmaker Salzgitter has taken a "concrete" step toward its low-carbon production goal by agreeing to a feasibility study with its industrial partners, the company announced on Wednesday June 24.The company agreed with the Federal State of Lower Saxony, the City of Wilhelmshaven and its industrial partners, logistics company Rhenus and energy company Uniper, to conduct a feasibility study...Read More
The billet import price decreased in Egypt because of lower offers and bids in the week to Thursday June 25, sources told Fastmarkets. CIS-origin billet was offered this week at $395-400 per tonne cfr, and buyers believed $375-380 per tonne cfr may be a "workable" price for the material. No deals were heard in the assessment period because of weak rebar consumption. As a result, Fastmarkets' weekl...Read More
Striking workers have put all industrial action at Tata Steel IJmuiden on hold until Friday June 26 to negotiate with management, Dutch trade union FNV Metaal said this week. All industrial action at Tata Steel IJmuiden has been temporarily stopped until Friday 1 pm local time after the company invited unions to the negotiation table, FNV said on Wednesday. "Due to the pressure of the strikes, the...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 25 that are worth another look.Striking workers have put all industrial action at Tata Steel IJmuiden on hold until Friday June 26 to negotiate with management, Dutch trade union FNV Metaal said this week.Demand for copper in Europe is weak and economies are struggling to restart after coronavirus-related lockdowns, forcing c...Read More
The three-month price of lead on the London Metal Exchange continued its upward trajectory at the close of trading on Thursday June 25, closing more than 1% higher and topping gains across the base-metals complex.But a steady uptick in copper futures over the afternoon was not enough to breach nearby resistance.Lead's outright price on the LME closed at $1,786 per tonne on Thursday afternoon, near...Read More
Turkish steel producers returned to the deep-sea scrap market on Thursday June 25, attracted by lower prices, sources told Fastmarkets.A steel mill in the Osmaniye region booked a 27,500-tonne US cargo, comprising HMS 1&2 (80:20) at $261 per tonne, shredded at $266 per tonne and bonus scrap at $271 per tonne cfr. The cargo's composition was not clear at the time of publication.The previo...Read More
Key information from the pricing session for Fastmarkets' alumina index, fob Australia on Thursday June 25. Key drivers: The most recent deal concluded on a fob Gladstone, Australia, basis at $261 per tonne for 30,000 tonnes with loading in the second half of July. A power outage at Hydro's Paragomias bauxite mine means production output at the Alunorte alumina refinery has been reduced to...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 25 that are worth another look.Striking workers have put all industrial action at Tata Steel IJmuiden on hold until Friday June 26 to negotiate with management, Dutch trade union FNV Metaal said this week.Demand for copper in Europe is weak and economies are struggling to restart after coronavirus-related lockdowns, forcing c...Read More
Demand for copper in Europe is weak and economies are struggling to restart after coronavirus-related lockdowns, forcing copper producers to ship cathode to China instead. Chinese trading houses and copper product manufacturers told Fastmarkets that they were fielding a significant rise in offers of cathode produced in Spain and Germany, an unusual shift in traditional trade flows confirmed by Eur...Read More
The three-month price of lead on the London Metal Exchange continued its upward trajectory at the close of trading on Thursday June 25, closing more than 1% higher and topping gains across the base-metals complex.But a steady uptick in copper futures over the afternoon was not enough to breach nearby resistance.Lead's outright price on the LME closed at $1,786 per tonne on Thursday afternoon, near...Read More
The three-month lead price on the London Metal Exchange was the standout performer during morning trading on Thursday June 25, supported by a continued trend of stock withdrawals, while a steady incline in LME tin stocks softened the metal's wide backwardation. Lead's outright price on the LME was recently at $1,778.50 per tonne, climbing by just under 1% from Wednesday's closing price of $1,762 p...Read More
Broader markets were generally weaker this morning, Thursday June 25, with those equity markets that were open in the Asian-Pacific region mainly weaker by between 1% and 2%.Pre-market major western equity index futures were down this morning, following Wednesday's weakness. Gold prices hold up in high ground around $1,760 per oz.International Monetary Fund (IMF) cuts world growth forecast again,...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The recent announcement about Vale's resumption of operations in Brazil, along with new concerns about a slump in demand because of heavy rainfall in China, has resulted in the end of the iron ore price rally. There has also been pressure from tight steel spreads, with the operating margins for Chinese steel mills shrinking...Read More
An explosion at Russia's Wolfram Co JSC UZTM plant has temporarily halted tungsten production there, a source at the company told Fastmarkets. Production was suspended for three days following the accident that took place on the night of Tuesday June 23 and was expected to resume on Thursday June 25 with no major impact on production, the source said. The accident happened when the plant was melti...Read More