UK secondary aluminium prices continued to rise on Wednesday August 26, with a regional supply squeeze pushing LM24 ingot prices above the levels seen before the Covid-19 pandemic began.The UK secondary aluminium market has suffered considerably as a result of Covid-19 and its associated industrial lockdown.All related UK industry effectively ground to a halt in March when carmakers, the main cons...Read More
The Turkish steel producers have continued their deep-sea scrap purchases for late September and October shipments, with prices becoming firmer, sources said on Wednesday August 26.After booking three deep-sea cargoes earlier this week, three more transactions were heard on Wednesday.A steel mill in the Izmir region booked a European cargo, comprising 10,000 tonnes of HMS 1&2 (75:25), 15,000 tonne...Read More
Key data from Fastmarkets' pricing session in London on Wednesday August 26.Key drivers: Alloy-grade cobalt traded at a premium to standard-grade with material in tight hands. Prices for both grades were well underpinned despite thinner liquidity compared with the beginning of August. Substantial spot volumes changed...Read More
Following recent concerns on the use of water for its lithium extraction operations, the Chilean lithium producer Sociedad Quimica y Minera (SQM) is working on a new environmental compliance plan with major stakeholders in the lithium-rich Salar de Atacama desert, including indigenous communities.SQM's representatives told Fastmarkets the steps the company is taking to improve the sustainability o...Read More
Cobalt intermediates shipments to China leapt by 84.7% month on month in July and local futures prices responded by plummeting on Tuesday August 25 after the data was released. China imported 28,087 tonnes of cobalt intermediates, which are mostly comprised of cobalt hydroxide - a key feedstock for cobalt refineries - in July, up from 15,206 tonnes in June, and also 9.2% higher year on year, accor...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 26 that are worth another look.Brazilian flat steel producer Usiminas has restarted its No1 blast furnace (BF) in Ipatinga city, in the country's southeastern Minas Gerais state, it said on August 26.Following recent concerns on the...Read More
Domestic prices for hot-rolled coil moved up across the EU over the week to Wednesday August 26 supported by some improvement in demand, a lack of competitive imports, reduced output and high raw materials costs, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?447.87 ($529.34) per tonne on Wednesday, up by ?,?5.04 pe...Read More
China's hot-rolled coil prices fell on Wednesday August 26 amid thin trading, with market sentiment dampened by the impact of Typhoon Bavi.DomesticEastern China (Shanghai): 4,020-4,030 yuan ($582-583) yuan per tonne, down 20-30 yuan per tonneSeveral Shanghai-based traders said trading there was thin on Wednesday, forcing some sellers to offer at just 4,000 yuan per tonne in the afternoon...Read More
The price of hollow steel sections in Northern Europe has inched upward following a jump in feedstock costs, with the market slowly returning to work after the summer holiday period, sources told Fastmarkets on Wednesday August 26.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?540-565 ($638-668) per tonne on Wednesday, up from ?,?540-560 per...Read More
Steel mesh-quality wire rod prices went up over the past week on good demand, while bullish suppliers seem intent on further price increase in September citing higher feedstock costs and demand growth, Fastmarkets heard on August 26.Southern EuropeFastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe increased to ?,?440-450 ($519-531) per...Read More
The price of steel H-beams in Europe inched up on Wednesday August 26 with producers pushing ahead with previously announced increases, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?535-565 ($632-668) per tonne on Wednesday, up from ?,?530-560 per tonne one week before.Market participants have slowly started to return to wor...Read More
The Turkish steel producers have continued their deep-sea scrap purchases for late September and October shipments, with prices becoming firmer, sources said on Wednesday August 26.After booking three deep-sea cargoes earlier this week, three more transactions were heard on Wednesday.A steel mill in the Izmir region booked a European cargo, comprising 10,000 tonnes of HMS 1&2 (75:25), 15,000 tonne...Read More
Iranian export prices for steel billet and slab increased in the week ended Wednesday August 26 on higher offers and sales prices heard in the market.Fastmarkets' weekly price assessment for steel billet, export, fob ports Iran, was $395-400 per tonne on August 26, compared with $390-395 per tonne a week earlier.One Iranian mill was heard selling a cargo of billets with modified chemistry at $401-...Read More
This year, the global economy has contracted at a pace previously unseen. However, the crisis this year was only the trigger for what would otherwise have been an inevitable collapse in our economy.Doug Casey, founder of Casey Research, and Rick Rule, president of Sprott U.S., discussed with Kitco News the underlying fundamental problems with not just our economy, but society at large, that have b...Read More
According to our guests today we are in the biggest bubble in the history of the United States. What data is driving this prediction? Listen as they give their individual short-term and long-term views on what's happening in the biggest cycle of our lifetime. Harry Dent, the best-selling author of "Zero Hour: Turn the Greatest Political and Financial Upheaval in Modern History to Your Advantage,"...Read More
"Inflation, I do think, is going to surprise people to the upside."Peter Boockvar is the Chief Investment Officer of Bleakley Financial Group and Editor of The Boock Report newsletter https://boockreport.com/.Read More
"As long as there is anxiety and disruption potential, that is what makes gold the perfect hedge whether you see deflation or inflation further out on the horizon."Danielle DiMartino Booth is CEO & Chief Strategist for Quill Intelligence LLC, a research and analytics firm. She spent nine years as an advisor to Richard W. Fisher at the Federal Reserve Bank of Dallas. Danielle left the Fed in 2015...Read More
Time Stamp References:0:40 - Understanding "Hard Money"6:20 - Gold in real terms.8:50 - Gold to Silver historic ratio.11:00 - Why gold is foremost real money.12:45 - Hunt Brothers and silver.16:05 - Silver production and recycling.16:55 - Silver as an inflation hedge.17:50 - Biggest PM bull market in history.21:55 - Wealth Taxes and Negative Interest Rates24:00 - Diversifying political risk.Tom we...Read More
A large gap between buyers' and sellers' valuations of steel billet in the import markets of Southeast Asia was preventing further buying activity, market participants told Fastmarkets on Wednesday June 26.Fresh deals for billet to China had raised market sentiment in Southeast Asia last week, but the reality of low demand at mills in the region, together with the recent rise in offer prices, has...Read More
John Rubino, of the popular financial website DollarCollapse.com, gives his views on the topic for the program and what that could mean for key markets.John Rubino is the founder and manager of the popular financial website DollarCollapse.com. Mr. Rubino is the co-author, with GoldMoney's James Turk, of The Money Bubble and The Collapse of the Dollar and How to Profit from It. He spent the 1980's...Read More