The price of ferrous scrap imported into India in containers moved up in the week to Friday July 24, despite market expectations for demand to remain subdued until later in the year, sources told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $285.96 per tonne on Friday, up $4.50 from $281.46 per tonne a week earlier.A deal was heard at $285...Read More
Turkish steel mills stayed out of the deep-sea scrap market on Friday July 24, but still ended the week having booked around 248,000 tonnes of scrap, sources told Fastmarkets.Despite the quiet Friday, news emerged of a US cargo booked on Wednesday July 22, with a steel mill in the Iskenderun region making the booking at $269.50 per tonne cfr for HMS 1&2 (80:20). The cargo composition was not clear...Read More
The market for pig iron exports from the Commonwealth of Independent States (CIS) was firm during the week ended Thursday July 23, on continued demand in China and resumed interest in Turkey.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $319-324 per tonne on July 23, widening from $320-323 per tonne a week before.One sale of 60,000 tonn...Read More
Seaborne iron ore prices fell on Friday July 24, following a downturn in the futures market amid growing concerns over escalating tensions between China and the United States. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $109.39 per tonne, down $0.73 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $111.56 per tonne, down $1.24 per tonne. 58% Fe fines high-grade premium, cfr...Read More
Seaborne coking coal prices were relatively stable across the board on Friday July 24, with Chinese steel mills that still have import quotas preferring higher-quality material, sources told Fastmarkets.Fastmarkets indices Premium hard coking coal, fob DBCT: $108.22 per tonne, down $0.80 per tonne Premium hard coking coal, cfr Jingtang: $119.39 per tonne, up $0.70 per tonne Hard coki...Read More
Three-month base metals prices on the London Metal Exchange softened during morning trading on Friday July 24, with positive manufacturing data out of Europe and a continued drawdown in LME stocks doing little to stop a complex-wide correction, that saw most metals decline by more than 1%. Leading on the downside this morning, LME nickel's outright price was recently at $13,475 per tonne, notching...Read More
The base metals were polarized this morning, Friday July 24, with prices on the London Metal Exchange down across the board, while the opposite was true for those on the Shanghai Futures Exchange.Asian-Pacific equities and major western pre-market equity futures indices were in negative territory this morning. Haven assets like gold, US treasuries and the yen are all pointing to a pick-up in inves...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The cobalt standard grade, in-whs Rotterdam 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...Read More
The cobalt alloy grade, in-whs Rotterdam 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...Read More
The tantalum concentrate price was trading under pressure this week after Chinese buying started to slow down. Fastmarkets assessed the price for tantalite, basis 25% min Ta2O5, cif China at $64-65 per lb on Friday July 24 - Fastmarkets first assessment of this price following an extended consultation - down from last week's $65-67 per lb. Tantalum prices had started to move up in A...Read More
The spot cobalt metal price in China continued to rally in the second half of the week following upturns in the local futures market since Thursday and a slight improvement in consumers' restocking appetite. Fastmarkets' assessment for cobalt 99.8% Co min, exw China rose to 255,000-265,000 yuan ($36,363-37,789) per tonne (equivalent to approx. $14.59-15.16 per lb, less China VAT) on Friday Ju...Read More
The Chinese domestic ferro-silicon market dipped in the most recent trading session due to the continuing sluggish downstream magnesium market and easing supply concerns, with smelters ramping up their operations. Fastmarkets' price assessment for ferro-silicon 75% Si min, in-whs China was 5,800-5,900 yuan ($828-842) per tonne on Wednesday July 22, down by 100 yuan (1.7%) from 5,900-6,000 yua...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves. Read More
Taiwanese buyers bid lower for imported containerized ferrous scrap over the past week, but were largely unsuccessful in halting price gains.Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $243-245 per tonne on Friday July 24, unchanged from a day earlier but up by $5 per tonne from $238-240 per tonne cfr T...Read More
Offers for Japanese steel scrap in key Vietnam import markets surged this week together with price increases in other parts of the world."The sustained price increases in scrap are catching some people by surprise. I am actually getting a little worried about the prices," a Vietnamese buyer told Fastmarkets on Wednesday July 22.There was a transaction at $255 per tonne cfr southern Vietnam on Thur...Read More
Overall, the Toronto Stock Exchange seems to be doing much better than where it was in March 2020. Canadian economic data looks promising after the country implemented numerous emergency stimulus measures.The Canadian Emergency Response Benefit (CERB) from the Canada Revenue Agency (CRA) has done well to keep the economy afloat during restrictive COVID-19 measures to slow infection rates.Canadian...Read More
There are very few sectors with bullish fundamentals underlying them that are trading at reasonable valuations. I am a contrarian at heart, so I am drawn to beaten-down spaces. At the moment, two sectors that are trading at enormous discounts are the energy stocks and retail-focused REITs. However, I understand that these sectors have poor short and potentially medium-term underlying fundamentals....Read More
Is there more volatility ahead for the Toronto Stock Exchange? A second COVID-19 wave could send corporate profits falling further in a global recession. Upcoming U.S. elections will also impact global markets.The S&P/TSX Composite Index is still down 5% for the year. Finally, the index has flattened this month, possibly signalling stronger months ahead for the stock market.Energy and fin...Read More
Work programs at six of Nexus Gold's Canadian and West African assets are either in the planning stage or in progress. In a news release, Nexus Gold Corp. (NXS:TSX.V; NXXGF:OTCQB) provided an update on many of its Canadian and West African projects.In Canada, at McKenzie East in Ontario's Red Lake, the company recently finished 2,000 meters of diamond drilling, assays from which are expected to b...Read More