According to one hedge-fund manager, known for his "doom and gloom" economic outlooks, the federal government may soon make stashing gold away illegal for individuals. Continue...Read More
Mohamed El-Erian, chief economic adviser at Allianz and a Bloomberg Opinion columnist, talks about China trying to control Hong Kong, and the impact of the coronavirus pandemic on global markets.Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a global investment firm and one of the...Read More
Another election approaches and yet again there is no acknowledgement of the real problems our country faces or any interest in discussing what to do about them. America and the Western World in Continue...Read More
The booms and busts of silver have truly been exceptional, putting the testicular fortitude of even strongest silver bugs to the test.Continue...Read More
MacroVoices Erik Townsend and Patrick Ceresna welcome Daniel Lacalle to the show to discuss the secular transition from deflation to inflation, hard assets generally, precious metals, the stock market outlook, and much more.Daniel Lacalle, PhD, economist and fund manager, is the author of the bestselling books Freedom or Equality (2020) and Escape from the Central Bank Trap (2017). He is a prof...Read More
NLMK, Russia's largest steelmaker, has started hot testing the new beneficiation section at its Stoilendkiy mining and beneficiation plant, the company said on May 22.The new additional beneficiation section will enable Stoilensky to increase its concentrate output from 17.5 million tonnes per year to 20 million tpy, while its ore processing capacity will move up to 42 million tonnes by 2021 from...Read More
China's domestic rebar prices were unchanged on Friday May 22 due to mixed news emerging from a meeting of policymakers in Beijing.Domestic Eastern China (Shanghai): 3,560-3,590 yuan ($500-503) per tonne, unchangedNorthern China (Beijing) - weekly assessment: 3,550-3,600 yuan per tonne, up by 130-140 yuan per tonne Chinese Premier Li Keqiang said in the morning that there would not be a gross...Read More
Prices in Southeast Asia's steel billet market remained on an upward trajectory over the past week because of improved demand from regional buyers and sustained interest from Chinese importers, sources said. Fastmarkets' daily price assessment for steel billet, import, cfr Southeast Asia, which mainly looks at 120-150mm 5sp grade billet sold into the Philippines, was $390-397 per tonne on Friday M...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the session ended Friday May 22.China Domestic ferro-chrome spot prices rose on bullish sentiment after Tsingshan raised its June tender price by 500 yuan ($70) per tonne. The UG2 chrome ore price was underpinned by continuing disruptions in South Africa, with deals reported at higher prices. Market sentiment strengthened...Read More
The price of stainless steel in Europe was stable in the week to Friday May 22, but mills are expected to announce significantly higher alloy surcharges for June next week after Outokumpu published higher figures on its website this week.Outokumpu, which traditionally is the first to announce new surcharges each month, said its June alloy surcharge for grade-304 flat products will be ?,?1,363 ($1,...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The Covid-19 pandemic and the associated impacts on steel production, mining and manufacturing activity, end-use consumption, and trade and transportation continue to dominate ferro-alloy markets. US steel mills are operating at around 50% of capacity, with similarly low operating rates evident in Europe as well. Chinese ste...Read More
Brazilian iron ore exports are not being affected by the increase in Covid-19 cases in the country, despite recent data showing a slowdown, Usiminas' mining arm director Carlos Rezzonico said in a conference call on Friday May 22.Minera????o Usiminas (Musa), a 70:30 joint venture between Usiminas and Japanese group Sumitomo Corp, has been operating normally during the pandemic, the executive told...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the session ending Friday May 22.China The domestic market experienced a small recovery on tight supply following the wave of production cuts among ferro-silicon producers in April. Export...Read More
The market for pig iron exports from southern Brazil went up again in the week to Friday May 22 amid new sales to China.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $290-295 per tonne on Friday, up by $10 per tonne from $280-285 per tonne a week earlier.Read More
Key data from the pricing sessions in Asia, Europe and the United States for the session ended Friday May 22.China Domestic ferro-chrome spot prices rose on bullish sentiment after Tsingshan raised its June tender price by 500 yuan ($70) per tonne. The UG2 chrome ore price was underpinned by continuing disruptions in South Africa, with deals reported at higher prices. Market sentiment strengthened...Read More
Miners and processors considering production cuts cannot ignore safety or care and maintenance, including of associated asset infrastructure, the former chief executive officer of Anglo American said.Cynthia Carroll told Fastmarkets during a webinar interview that taking the decision to curtail output in deteriorating demand and pricing environments such as those being seen during the Covid-19 pan...Read More
LME base metals fell at the final hurdle this week, with prices slumping on Friday May 22 after having been on course for their best performing week of the year.Markets reacted negatively to early announcements made during the National People's Congress, China's agenda setting political meeting which started on Friday May 22 after earlier delays."There was a lot about social and technical policy,...Read More
Seaborne iron ore prices dipped slightly on Friday May 22 with the opening of China's twin sessions, in which, for the first time since 1994, no gross domestic product growth target was set by the Chinese government. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $97.65 per tonne, down $0.61 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $100.28 per tonne, down $1.35 per tonne. 58% Fe...Read More
China's domestic rebar prices were unchanged on Friday May 22 due to mixed news emerging from a meeting of policymakers in Beijing.Domestic Eastern China (Shanghai): 3,560-3,590 yuan ($500-503) per tonne, unchangedNorthern China (Beijing) - weekly assessment: 3,550-3,600 yuan per tonne, up by 130-140 yuan per tonne Chinese Premier Li Keqiang said in the morning that there would not be a gross...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The Covid-19 pandemic and the associated impacts on steel production, mining and manufacturing activity, end-use consumption, and trade and transportation continue to dominate ferro-alloy markets. US steel mills are operating at around 50% of capacity, with similarly low operating rates evident in Europe as well. Chinese ste...Read More