1. Gold and silver still going up. They're strong gold have another good yesterday and is up today. Nick's been waiting to get into gold. Silver has a lot of room to run. Futures are trading at 18.05. Next big resistance point is 23 and then 25. Once it gets going, it's going to get interesting. The longer you have a base, the higher it can go. 2. Wild overnight session based upon Peter Navarro's...Read More
Chinese gold companies continue to pursue and acquire mining companies aggressively. Continue...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 23 that are worth another look.A recent resurgence of Covid-19 infections in Beijing led to some jitters in China's steel sector in the initial stages of the outbreak, but market participants do not expect this second wave to leave much of an impact on the industry.The aluminium duty-paid market in Europe is set to come under...Read More
Steel rebar and billet import prices in the United Arab Emirates have remained fairly stable over the past week, while domestic rebar prices have risen slightly, sources said on Tuesday June 23.Domestic rebarThe country's biggest producer, Emirates Steel, increased its rebar offers to 1,773 dirhams ($483) per tonne ex-works from June 16, up from 1,690 dirhams per tonne ex-works a week before.Follo...Read More
Sales of passenger cars in the EU will fall by 25% year on year in the full 2020 because of the Covid-19 pandemic, the European Automotive Manufacturers Association (ACEA) said on Tuesday June 23.The major economic crisis facing the auto industry will see car sales in the European Union tumble by more than 3 million units, with only 9.6 million units expected to be sold this year, compar...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 23 that are worth another look.A recent resurgence of Covid-19 infections in Beijing led to some jitters in China's steel sector in the initial stages of the outbreak, but market participants do not expect this second wave to leave much of an impact on the industry.The aluminium duty-paid market in Europe is set to come under...Read More
Sales of passenger cars in the EU will fall by 25% year on year in the full 2020 because of the Covid-19 pandemic, the European Automotive Manufacturers Association (ACEA) said on Tuesday June 23.The major economic crisis facing the auto industry will see car sales in the European Union tumble by more than 3 million units, with only 9.6 million units expected to be sold this year, compar...Read More
A recent resurgence of Covid-19 infections in Beijing led to some jitters in China's steel sector in the initial stages of the outbreak, but market participants do not expect this second wave to leave much of an impact on the industry.The Chinese capital has registered more than 230 new Covid-19 cases since June 11 after a spate of infections traced to the Xinfadi wholesale food center in the sout...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 23 that are worth another look.A recent resurgence of Covid-19 infections in Beijing led to some jitters in China's steel sector in the initial stages of the outbreak, but market participants do not expect this second wave to leave much of an impact on the industry.The aluminium duty-paid market in Europe is set to come under...Read More
A summary of base metals premiums from across the globe for the week to Tuesday June 23.Read More
Hong Kong's Noble Group notched a $206 million loss in the first quarter of 2020, with the company citing the breaking of supply chains due to the Covid-19 outbreak as the key reason for the slump, the trading group announced on Tuesday June 23."Q1 was dominated by the impact of the Covid-19 pandemic, which has had far-reaching implications for every business and sector, including ours," Noble cha...Read More
Sales of passenger cars in the EU will fall by 25% year on year in the full 2020 because of the Covid-19 pandemic, the European Automotive Manufacturers Association (ACEA) said on Tuesday June 23.The major economic crisis facing the auto industry will see car sales in the European Union tumble by more than 3 million units, with only 9.6 million units expected to be sold this year, compar...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 23 that are worth another look.A recent resurgence of Covid-19 infections in Beijing led to some jitters in China's steel sector in the initial stages of the outbreak, but market participants do not expect this second wave to leave much of an impact on the industry.The aluminium duty-paid market in Europe is set to come under...Read More
The aluminium duty-paid market in Europe is set to come under increasing pressure due to fears of excess stock arriving from Canada and a weak Japanese market. On Monday, Bloomberg reported that the United States is considering re-imposing tariffs on aluminium imports from Canada, according to people familiar with the matter. An announcement could be made by the end of the week. Sources told...Read More
A recent resurgence of Covid-19 infections in Beijing led to some jitters in China's steel sector in the initial stages of the outbreak, but market participants do not expect this second wave to leave much of an impact on the industry.The Chinese capital has registered more than 230 new Covid-19 cases since June 11 after a spate of infections traced to the Xinfadi wholesale food center in the sout...Read More
The London Metal Exchange three-month zinc price declined during morning trading on Tuesday June 23 on poor United States home sales figures and US-China trade concerns, while continued stock drawdowns in copper pushed the metal's price higher. LME zinc's outright price was recently at $2,051 per tonne, falling from a morning high of $2,088 per tonne, while turnover was at more than 4,000 lots as...Read More
Markets underwent a knee-jerk downward reaction earlier this morning, Tuesday June 23, when it looked like the phase one trade deal between the United States and China was over, but markets snapped back once US President Donald Trump announced the deal was "fully intact". The fact that a White House official said it was "over" only to retract that later suggests there have at least been discussion...Read More
The LME three-month copper price maintained slim gains made during the day, closing up 0.4% on Tuesday June 23, with high turnover buoyed by US financial stimulus optimism, while stock outflows added further price support. The London Metal Exchange three-month copper price held above the $5,900 per tonne psychological level to close at $5,905 per tonne this afternoon, up from $5,880.50 per tonne o...Read More
Turkish steel mills extended their silence in the deep-sea scrap markets, but are now pushing forlower prices, sources said on Tuesday June 23.Turkey's steelmakers have mostly stayed away from the deep-sea market since booking two US cargoes at the beginning of the last week.On Monday June 15, a steel mill in the Izmir region booked a US cargo at $265 per tonne cfr for HMS...Read More
The aluminium duty-paid market in Europe is set to come under increasing pressure due to fears of excess stock arriving from Canada and a weak Japanese market. On Monday, Bloomberg reported that the United States is considering re-imposing tariffs on aluminium imports from Canada, according to people familiar with the matter. An announcement could be made by the end of the week. Sources told...Read More