Prices for imported steel billet in Egypt decreased in the week ended Thursday March 12 but demand remained soft, sources have told Fastmarkets.Some Egyptian rebar producers increased their prices on February 26.Egyptian rebar producers were still offering rebar at E ?9,600-10,100 ($610-641) per tonne ex-works including 14% VAT,...Read More

Steel billet prices in Turkey have gone down over the past week on falling steel prices and weak demand, sources said on Thursday March 12.The suppliers in the Commonwealth of Independent States (CIS) region have lowered their offers for billet to $400-405 per tonne cfr, from the $405-410 per tonne of last week.But customers in Turkey were only bidding $390 per tonne cfr for CIS billet, according...Read More

Here are five Fastmarkets stories you might have missed on Thursday March 12 that are worth another look.Two more steel producers in Italy have stopped operations following the recent nationwide extension of the country's coronavirus-related quarantine area, and more stoppages were expected, sources told Fastmarkets on March 12.Ball Corporation is to acquire Tubex Industria E Comercio de Embalagen...Read More

Stainless steel prices in China have plunged over the past week on growing inventory levels, although market participants were optimistic that domestic demand showed signs of improvement."It's likely that Chinese prices are close to bottoming out because most companies have already resumed operations," a trader in northern China said.The lack of significant declines in raw material costs could als...Read More

Daniel R. Amerman, CFAThe traditional reason for investing in gold is to protect from inflation, but history shows that gold has far more valuable uses than if it were just a mere inflation hedge. In this chapter, using six stages of analysis, we will explore a powerful and highly consistent historical relationship between gold and stocks that offers investors the ability to use gold in ways tha...Read More

Stefan GleasonAs the coronavirus spreads fear, sickness, and death, a specter haunts investors - the specter of deflation.Despite central bankers' attempts to push inflation rates higher, equity and commodity markets are collapsing. Inflation expectations as reflected in tanking U.S. Treasury yields, meanwhile, appear headed toward zero - and perhaps even below."I think that we have a real dange...Read More

By: Ira EpsteinGold 18 week moving average near $1,542, trying to hold the lows here but now need to see what the market does..Read More

A USA Today headline this morning indicated that the Dow was diving as virus concerns counter hope for fiscal steps.U.S. stocks teetered on the edge of a bear market Wednesday as worries persisted over economies reeling from the coronavirus outbreak.""Concerns have grown that a prolonged outbreak may bring on a recession.""Goldman Sachs forecast that the longest ever bull market "will soon end...Read More

Here are five Fastmarkets stories you might have missed on Thursday March 12 that are worth another look.Two more steel producers in Italy have stopped operations following the recent nationwide extension of the country's coronavirus-related quarantine area, and more stoppages were expected, sources told Fastmarkets on March 12.Ball Corporation is to acquire Tubex Industria E Comercio de Embalagen...Read More

The trend in the European market for hot-rolled coil remained blurry due to the lockdown in Italy intended to restrict the spread of coronavirus, sources told Fastmarkets on Thursday March 12.The consequences of the outbreak of 2019-nCoV coronavirus that led to the lockdown have also resulted in stoppages at some long steel producers in the country.But Fastmarkets' daily steel hot-rolled coil inde...Read More

The London Metal Exchange three-month price for nickel fell by more than 5% on Thursday March 12, a trading day that saw a 16,000-tonne rewarranting, with the price reaching a high of $12,495 per tonne then crashing to a low of $11,735 per tonne, before closing at $11,830 per tonne.Almost 13,700 nickel lots were traded over the day, which was marked by the rare rewarranting of more than 16,000 ton...Read More

A substantial increase to air-freight costs from China into Europe and the US is weighing on negotiations for indium, germanium and gallium, which are usually shipped as air freight on commercial aircrafts, sources said."Since the coronavirus outbreak started, the cost of shipping by air has almost doubled for all air shipments," a Chinese germanium producer said.Air freight rates generally range...Read More

Here are five Fastmarkets stories you might have missed on Thursday March 12 that are worth another look.Two more steel producers in Italy have stopped operations following the recent nationwide extension of the country's coronavirus-related quarantine area, and more stoppages were expected, sources told Fastmarkets on March 12.Ball Corporation is to acquire Tubex Industria E Comercio de Embalagen...Read More

The continued spread of the novel coronavirus (2019-nCoV) worldwide has weighed on China's tungsten market in the week to Wednesday March 11, sources told Fastmarkets. Ammonium paratungstate (APT) exporters experienced a slow market, while unrecovered downstream manufacturing, such as the automobile industry, in China also dragged the domestic tungsten market price down.China APT export price move...Read More

The London Metal Exchange three-month price for nickel fell by more than 5% on Thursday March 12, a trading day that saw a 16,000-tonne rewarranting, with the price reaching a high of $12,495 per tonne then crashing to a low of $11,735 per tonne, before closing at $11,830 per tonne.Almost 13,700 nickel lots were traded over the day, which was marked by the rare rewarranting of more than 16,000 ton...Read More

The London Metal Exchange has outlined further contingency plans for metal warranting against the coronavirus (2019-nCoV) outbreak, ensuring that its Special Committee has a broad range of powers to maintain an orderly market.The LME has put precautionary measures in place to contain the spread of the virus at its open outcry trading ring, issuing a split-team policy, the potential to transition t...Read More

Seaborne coking coal prices were stable on Thursday March 12, though concerns about demand and weather-related worries continue to cloud outlook, Fastmarkets heard. Fastmarkets indicesPremium hard coking coal, fob DBCT: $159.56 per tonne, up $1.34 per tonnePremium hard coking coal, cfr Jingtang: $164.86 per tonne, down $0.81 per tonneHard coking coal, fob DBCT: $144.01 per tonne, unchangedHard cok...Read More

The benchmark alumina price remained above $300 per tonne on Thursday March 12 but liquidity on a fob Australia basis remained low. Fastmarkets calculated the daily alumina index, fob Australia at $303.17 per tonne on Thursday, little changed from $304.63 per tonne the previous day. The index has been above $300 per tonne since February 27. Key drivers:  Liquidity remains low but partici...Read More

Turkish deep-sea scrap import prices have gone down in the latest deal for a Baltic Sea cargo, with steel producers still trying to cover their urgent needs with short-sea deals instead, sources said on Thursday March 12.A steel mill in the country was heard booking a Baltic Sea cargo from Poland at the beginning of the week at $273-273.50 per tonne cfr for HMS 1&2 (80:20). The cargo breakdown was...Read More

Strong competition from exporters has propped up brass scrap prices in the United States, despite the Comex copper price falling around $2.50 per lb, Fastmarkets understands.Export competition "is pulling the brass scrap prices up," a copper scrap seller said.A copper trader agreed, adding that "the copper spreads are the same, but brass scrap is going opposite to copper scrap."Indeed, most copper...Read More