Flat steel import prices in the United Arab Emirates and Saudi Arabia continued to edge up this week, despite demand still being weak, sources told Fastmarkets on Tuesday August 25.No deals were heard during the week because of liquidity problems in the UAE, as well as buyers preferring to wait for prices to fall.UAEOffer prices for hot-rolled coil from Japan were heard in the UAE at $540-550 per...Read More
Prices for steel rebar and billet in the United Arab Emirates decreased slightly this week because of weak demand, market sources said on Tuesday August 25.Domestic rebarRebar producers in the UAE have been offering the product at 1,800-1,830 dirhams ($490-498) per tonne ex-works for orders with September-production since August 17, with deals heard over the week at 1,750 dirhams per tonne e...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.August 2020 has seen the prices of most steel products move up in tandem around the world, in contrast to recent months when steel prices have moved in different directions depending on the market.This dynamic has been seen in most coated steel markets as well, with the prices for hot-dipped galvanized coil (HDG), pre-painted...Read More
CME Group's Midwest No1 busheling ferrous scrap futures traded a total of 186 lots (3,720 gross tons) on Monday August 24, according to the exchange's daily report.The front month September contract remained the most active with 62 lots sold; 209 lots traded on that contract on Friday August 21. After opening at $289 per ton, up by $3 from the Friday close, the price slid by $6 day on day to settl...Read More
Turkish steel producers resumed deep-sea scrap purchasing on Tuesday August 25 after more than two weeks out of the market, sources told Fastmarkets.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 38,000 tonnes of HMS 1&2 (80:20) at $283 per tonne, 1,500 tonnes of bonus scrap at $293 per tonne and 1,500 tonnes of busheling at $298 per tonne cfr.The same mill booked a...Read More
Brazilian miner Vale has inaugurated an iron ore grinding hub at a terminal owned by the China-based Ningbo-Zhoushan Port Group (NZP), with three production lines and capacity for as much as 3 million tonnes per year, the company said on Tuesday August 25.The first product to be designed at the grinding hub will be GF88, high-grade fines made from iron ore produced in Caraj??s (IOCJ), the top-tier...Read More
Prices for iron ore fines went down on Tuesday August 25, with market sources saying that the restrictions on sintering in the Tangshan area of northern China have affected demand expectations.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $122.99 per tonne, down by $2.24 per tonne.62% Fe low-alumina fines, cfr Qingdao: $121.20 per tonne, down by $3.58 per tonne.58% Fe fines high-grade pre...Read More
Seaborne coking coal prices across the board remained flat on Tuesday August 25, while India was actively purchasing seaborne premium mid-volatility hard coking coal and Chinese market participants were looking forward to October, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $104.41 per tonne, up $0.32 per tonne Premium hard coking coal, cfr Jingtang: $114.64 per tonne, up $...Read More
Export offers for Chinese hot-rolled coil have risen by $5 per tonne on Tuesday August 25 compared with a week earlier on a stable domestic market, though thin trading has raised doubts among sources about whether the increases would stick.DomesticEastern China (Shanghai): 4,040-4,060 yuan ($584-587) yuan per tonne, unchangedDomestic prices were stable during the day but trading activity further w...Read More
China's domestic rebar prices stopped rising on Tuesday August 25 amid lower trading activity due to weaker futures.Domestic Eastern China (Shanghai): 3,640-3,670 yuan ($526-530) per tonne, unchangedBuyers cut their procurement rates amid losses in the futures market, which kept sellers from raising prices further.Several traders reported that their sales volumes had dropped by 40-50% from Monday'...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 transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt standard grade, in-whs...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed...Read More
Warren Buffett and Berkshire Hathaway (NYSE:BRK-A)(NYSE:BRK-B) has notably done very little trading during the market volatility this year. The company sold off its airline positions in the stock market to avoid tragic and possibly long-term losses. Further, the investing guru’s buying activity has been muted compared to other years.Known for being a value investor, Warren Buffett is us...Read More
Warren Buffett is widely known as one of the best investment managers of all time. So it’s no surprise when his company, Berkshire Hathaway, buys a TSX stock, investors notice.Over the years, investors have known Buffett to be a fundamental long-term investor. He has a strong belief in the long-term potential of the economy. Therefore, if you pick the best companies and hold them for the lon...Read More
Regardless of the stock market’s stellar recovery, the economy remains weak. Countries around the world have lowered their gross domestic product (GDP) forecasts. Meanwhile, jobless claims remain high. To make matters worse, the ill-impact of the coronavirus on the economy is still unknown, while infections continue to rise. All these indicate that we could be heading toward a recession.So,...Read More
Paulson purchased the notes in two separate financings in March 2016 and March 2020 and they will convert into 199.7 million shares.Read More
BHP, Anglo American and Glencore will be among the beneficiaries of a met-coal recovery, though it is a material which tends to be overlooked in the big diversified miners or ignored by investors whoRead More
The contractor posted FY20 NPAT of A$64.9 million, up 41% year-on-year, and EBITDA of $238.Read More
I recently sat down with Jason Stutman, one of the most successful tech analysts in the world, to talk about connectivity, privacy, and where he's investing next. As Jason and I discussed in the interview, outside of data mining, robotics and automation is one of the more profitable investment opportunities happening in the world of tech right now. Bill Gates calls robotics "the holy grail...Read More
Just when you thought the chaos this year was over, Marco and Laura showed up to the party.As the two storms started making their way toward the Gulf Coast, they became more difficult to ignore.The good news is that Marco decided to dip out early after the storm was downgraded to a tropical depression two days ago.The bad news is that Laura took a different approach and is now expected to be a Cat...Read More