The Turkish steel producers resumed their deep-sea scrap purchases after the post-Ramadan holiday break with prices going up, while demand in Asia was also firm during the working week ended Friday May 29.Turkish steel mills booked six deep-sea cargoes at higher pricesUS exporters are working to fill sales from both West and East CoastsImport scrap prices in Vietnam rise, outlook unclearTight supp...Read More
The price of shredded ferrous scrap imported into India in containers moved up on Friday May 29, on growing interest from mills returning to the market for the first time since the Covid-19 lockdown, sources told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $275.21 per tonne on Friday, up from $266.67 per tonne a week earlier. Many market...Read More
The inter-merchant spot price for light iron scrap in the UK has moved higher by ?5 ($6) per tonne in the week to Friday May 29, the first price movement in May. Reduced arisings from scrap generation amid a slump in manufacturing and construction is outweighing slow demand from steelmakers.The price move may extend into monthly steel scrap delivery prices to consumers in the UK steel sector, wit...Read More
Broader markets were generally weaker this morning, Friday May 29, while they wait for what United States President Donald Trump's response will be to China's plans to impose national security laws in Hong Kong. The base metals were mixed, however. On the Shanghai Futures Exchange only the lead contract was showing price falls, while most of the base metals traded on the London Metal Exchange were...Read More
Fastmarkets is proposing to amend the specifications of cobalt hydroxide prices in order to reference a threshold for maximum iron content.Following an initial discussion with market participants, Fastmarkets is proposing to tighten the chemical specifications of the cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low end) and the c...Read More
Concerns over the availability of nickel for the battery sector increase from 2022, when electric vehicle (EV) growth picks up again after a period of weak consumer confidence caused by Covid-19, according to a poll conducted during a Fastmarkets webinar.About 44% of respondents to a poll at the end of the webinar said nickel was the battery raw material with which they were most concerned about s...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.US demand shrinksDemand projections call for a continued retreat in US electric-resistance welded (ERW) line pipe and oil country tubular goods (OCTG) consumption as drill rigs and the number of wells drilled per rig are cut. Project demand in the large-diameter line pipe market is also shrinking with deferred or canceled pro...Read More
Domestic prices for hot-rolled coil in Northern Europe went down day on day on Friday May 29 due to poor demand.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?400.71 ($442.31) per tonne on Friday, down by ?,?6.17 per tonne day on day from ?,?406.88 per tonne ex-works on Thursday.Friday's index was calculated based on deals and "workable" prices heard at ?,?39...Read More
The export price for hot-rolled coil from India has fallen by $10-25 per tonne with mills booking large tonnages to China and South-East Asian countries.The price of steel HRC (commodity), export, fob main port India, was assessed by Fastmarkets at $395-415 per tonne on Friday May 29, down from last week's assessment at $420-425 per tonne.Market participants have attributed the fall in price to...Read More
The United States will continue its anti-dumping and countervailing duty investigations into imports of pre-stressed concrete steel wire strand from 14 countries and the island of Taiwan, according to an announcement by the US International Trade Commission (ITC)."The United States International Trade Commission... determined that there is a reasonable indication that a US industry is materia...Read More
Both domestic and imported steel beam prices in the United States were unchanged in May on persistent lower demand. Fastmarkets' monthly price assessment for steel beams 8 x 8-inch, fob mill US held at $35.25 per hundredweight ($705 per short ton) on Thursday May 28; the price fell to that level on April 30 after remaining at $36.50 per cwt since January 30.Fastmarkets' monthly price assessment fo...Read More
ArcelorMittal plans to restart production at its mill in Bosnia, while Italy's AFV Beltrame puts one plant on pause and Acciai Terni Speciali cuts output in the week ended Friday May 29.ArcelorMittal restarted operations in the hot zone at its Zenica plant in Bosnia this week, and plans to re-open the rolling mills in June.The company also said that its Omarska mine near Prijedor, which supplies t...Read More
The Turkish steel producers resumed their deep-sea scrap purchases after the post-Ramadan holiday break with prices going up, while demand in Asia was also firm during the working week ended Friday May 29.Turkish steel mills booked six deep-sea cargoes at higher pricesUS exporters are working to fill sales from both West and East CoastsImport scrap prices in Vietnam rise, outlook unclearTight supp...Read More
The market for pig iron in the United States improved during the week ended Friday May 29, with suppliers bullish amid continued demand and higher prices in China.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $310-312 per tonne on Friday, up from $305-310 per tonne a week before. "Our next deals will be at a higher level [than the previous purchase a...Read More
Jim Rogers is a well-respected and much sought after market commentator and public speaker with a deep commitment to free markets. Lynette and Jim discuss what is happening with the global economy and what Jim is doing personally to protect his wealth.*There are some issues with the audio in this interview but you can still hear the majority of it. Lynette Zang has held the position of Chief Marke...Read More
Gerald Celente of the Trends Journal gives an explosive interview on a range of topics, including the massive government failures in handling the COVID-19 outbreak, some alarming statistics about the virus that the legacy media are ignoring, and offers some incredibly valuable advice on what people should be doing to prepare for what he calls the greatest depression. Gerald Celente is a pioneer tr...Read More
Today's interview is with Charles Hugh Smith. Charles talks COVID-19 in Hawaii and how the island is handling it. The discussion then branches off into centralization, the central banks and how the people have the ability to change everything when faced with disastrous situations. Charles explains how the event has revealed the agenda of certain individuals, how the economic system does not functi...Read More
Sprott Money News ? Sprott Money News Weekly Wrap-up - 5.29.20Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest independently owned securities firms. In 2001, Eric established Sprott Asset Management Inc. Over the years, Eric has personally been the recipie...Read More
Today Bob Hoye joins us on RTD to share his thoughts on the economy. During this interview Bob lays out an interesting explanation using prior historical events that illustrate why the current economic bubbles have already burst. The policy response to the coronavirus reassures the holders of metals that higher prices are on the way. Bob Hoye is a trained geologist, successful resource investor an...Read More