A summary of aluminium and alumina producer Hydro's second-quarter 2020 results.In brief Underlying earnings before interest and taxes (Ebit) for the second quarter was 949 million Norwegian krone (US $104.29 million), compared with 875 million krone for the same quarter in 2019.Revenue was down to 30.9 billion krone from 39.1 billion krone in the second quarter of 20...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 22 that are worth another look.Russia's largest steelmaker, Novolipetsk Steel (NLMK), has suspended rolling operations at its subsidiary in the Ural region due to a flood, the company said earlier this week.Rio Tinto has formally complained...Read More
First Cobalt is entering the second phase of financing discussions for the recommission and expansion of its currently idled cobalt refinery in Canada, with proposals under review with its financial advisor, Canadian Imperial Bank of Commerce (CIBC).The Canada-headquartered company is contemplating an initial recommissioning of the cobalt refinery in partnership with miner and marketer Glencore be...Read More
Turkish steel producers have continued their deep-sea scrap purchases for August shipments but at slightly higher prices, sources said on Wednesday July 22.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 13,000 tonnes of HMS 1&2 (95:5) at $273 per tonne cfr. The cargo was scheduled to be shipped before August 19.A steel mill in the Marmara region booked US cargo, compri...Read More
First Cobalt is entering the second phase of financing discussions for the recommission and expansion of its currently idled cobalt refinery in Canada, with proposals under review with its financial advisor, Canadian Imperial Bank of Commerce (CIBC).The Canada-headquartered company is contemplating an initial recommissioning of the cobalt refinery in partnership with miner and marketer Glencore be...Read More
Spot payables for cobalt hydroxide continued to rally in the first half of the week that began on Monday July 20, with consumers raising their bids in an effort to secure spot August cargoes, which remained in tight supply.The assessment of the cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low end), rose to 70-71.5% on July 22. Th...Read More
Italian steel re-rollers have been targeting a price increase for heavy plate due to the rising cost of steel slab, sources told Fastmarkets on Wednesday July 22.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?430-440 ($493-505) per tonne on July 22, up by ?,?10 per tonne week on week from ?,?420-430 per tonne.The assessment was based on achievabl...Read More
Sentiment in the European hot-rolled coil market has been positive despite the seasonal slowdown in activity in the second half of the summer, sources told Fastmarkets on Wednesday July 22.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?407.68 ($467.82) per tonne on Wednesday, up by just ?,?0.01 per tonne from ?,?407.67 per tonne on July 21.Wedne...Read More
Iranian steelmakers produced 7.14 million tonnes of semi-finished products in the first three months of the current Iranian year - March 20 to June 20 - up by 3% annually, the latest Iranian Steel Producers Association (ISPA) report said on July 19.Higher steel slab output reached 3.02 million tonnes in the first quarter, up by 12% year on year, which drove a lot of the reported growth, while stee...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 22 that are worth another look.Russia's largest steelmaker, Novolipetsk Steel (NLMK), has suspended rolling operations at its subsidiary in the Ural region due to a flood, the company said earlier this week.Rio Tinto has formally complained...Read More
Decreasing ferrous scrap prices and overall weak demand have eroded wire rod spot prices in the United States, Fastmarkets has learned.Fastmarkets' monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US fell to $29-29.50per hundredweight ($580-590 per short ton) on Tuesday July 21, down by 4.1% from $30-31 per cwt last month, when sources indicated the domestic wir...Read More
Hollow steel sections prices in Northern and Southern Europe were unchanged on Wednesday July 22 with much of the market already away for the summer, sources told Fastmarkets. Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?540-560 ($620-642) per tonne on Wednesday, unchanged week on week. The weekly steel sections (medium), domestic,...Read More
Turkish steel producers have continued their deep-sea scrap purchases for August shipments but at slightly higher prices, sources said on Wednesday July 22.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 13,000 tonnes of HMS 1&2 (95:5) at $273 per tonne cfr. The cargo was scheduled to be shipped before August 19.A steel mill in the Marmara region booked US cargo, compri...Read More
Bob says now is the time to buy gold before it is too expensive and talks about the erosion of our constitutional rights.Part 1 (parts 2 & 3 below)Bob Moriarty continues the interview with Jay. Jay recommends getting and reading "Common Sense 2.0" and Bob talks about the military industrial complex.Part 2Bob Moriarty and Jay continue to talk about the topics of the book "Common Sense 2.0" and prob...Read More
Legendary precious metals trader Andrew Maguire joins us to answer your questions regarding COMEX pricing, JP Morgan and the current shortage of physical silver at the wholesale level.Sprott Money News ? Sprott Money News Ask The Expert - July 2020- Andrew MaguireAndrew Maguire is an Independent London Metals Trader and Analyst, internationally renowned for his unique ability to read the precious...Read More
"Trump promised us a deal. Instead, we got a cold war."Gregory Mannarino started his career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. After realizing that working on Wall Street was not like the movies, he moved on to get a medical degree and practiced medicine as a Physician Assistant. He also served in the United States Naval Reserve Me...Read More
"When inflation becomes the problem, what can the Fed do? Promise to buy stocks and print more money? What can the Fed do? Print money to buy down interest rates when the economy is in full revolt? When money managers are shorting bonds and driving yields to the moon. No, the only thing they can do is stop printing money and promise to fight inflation. That's when you are going to get 6,000 on the...Read More
CIS export steel billet prices continued to strengthen early this week after a fresh sale and on limited availability of August-rolling volumes, Fastmarkets heard on Wednesday July 22.Rare offers from CIS mills were heard within the range of $380-385 per tonne fob Black/Azov Sea ports. This was up from $375-385 per tonne fob late last week.Some Russian producers, however, quoted significantly high...Read More
TOPICS IN THIS INTERVIEW:-Michael's introduction-Deep analysis of the gold bull market stair stepping higher.-Acceleration of the gold and silver move.-Bull market in gold, "likely its last."-Tech stocks heavily distorting indexes.-Banking stocks never recovered.?>>?J. Michael Oliver entered the financial services industry in 1975 on the Futures side, joining E.F. Hutton's International Commodity...Read More
Video Timestamps:19:30 Stock Market Concerns27:00 David Rosenberg's Investment Strategy32:40 Bank Of Canada Policy Meeting 202040:20 Investment strategy for the new normal48:50 Debt Ratios49:10 Gold Investment Idea52:10 StagflationDavid Rosenberg is the chief economist & strategist of Rosenberg Research & Associates, an economic consulting firm he established in January 2020. He received both a Ba...Read More