Hong Kong's Financial Secretary Paul Chan Mo-po is set to unveil a HK120 billion relief deal which includes 'helicopter money' - giving every Hong Kong permanent resident over the age of 18 a cash handout of Continue...Read More
Jordan Roy-Byrne looks at the monthly charts for gold, GDX and silver. Gold is setting up to have a very strong monthly close this month, however, silver and gold stocks still need to move higher to truly breakout for the end of the month. All are in bullish formations but there is some catch up still needed. Jordan also discusses the Fed's future actions and how that will help to drive gold stock...Read More
A slowdown in gold sales in India and China and extremely high levels of speculative longs in the gold market are contributing to a pullbackContinue...Read More
"David (Morales) said the Americans were desperate and had even suggested more extreme measures could be applied against the guest to put an end to the situation."Continue...Read More
The prices for hollow steel sections in Europe were unchanged this week with mills struggling to pass on higher feedstock costs to their customers, sources told Fastmarkets on Wednesday February 26.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?620-650 ($673-706) per tonne on Wednesday, unchanged week on week.Despite the rising cost of...Read More
China's steel industry has faced difficulties in production and sales since the first working day after the Lunar New Year holiday due to the novel coronavirus (2019-nCoV) outbreak, which has led to some 78,000 infections and close to 2,700 deaths in the country so far.Here are eight key effects of the outbreak has had on the Chinese steel industry, according to the China Iron & Steel Association...Read More
Eastern China's Shagang has decreased the prices for its long steel products booked over the March 1-10 period, according to a company announcement late on Tuesday February 25.HRB400 rebar (16-25mm): 3,650 yuan ($520) per tonne, down 230 yuan...Read More
Global crude steel production totaled 154.44 million tonnes in January, a year-on-year rise of 2.1%, according to the World Steel Association (Worldsteel).The increase was made possible by a 7.2% rise in Chinese steel production, which hit 84.27 million tonnes in January 2020.In contrast, two other Asian steelmaking powerhouses - India and South Korea - recorded year-on-year decreases.Indian outpu...Read More
China's steel industry has faced difficulties in production and sales since the first working day after the Lunar New Year holiday due to the novel coronavirus (2019-nCoV) outbreak, which has led to some 78,000 infections and close to 2,700 deaths in the country so far.Here are eight key effects of the outbreak has had on the Chinese steel industry, according to the China Iron & Steel Association...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 26 that are worth another look.China's steel industry has faced difficulties in production and sales since the first working day after the Lunar New Year holiday due to the novel coronavirus (2019-nCoV) outbreak, which has led to some 78,000 infections and close to 2,700 deaths in the country so far.Metal and ferro-alloy...Read More
Chinese nickel premiums increased in the week to Tuesday February 25, along with one in the United States, but European premiums remained flat, near a perceived bottom, sources told Fastmarkets.China's nickel premiums rise on falling arbitrage loss between Shanghai and London exchanges The floor lifts slightly for US nickel briquette premiums European nickel premiums stay low, reflecting...Read More
Global tin premiums were steady in the week to Tuesday February 25, despite poor demand and with rising stock volatility turning the focus on delivery incentives amid a large inflow into LME warehouses in Los Angeles. European market questions LA inflows US sentiment improves Asia demand in question Fresh inflows puzzle European tin market; premiums steadyIn Europe, Fastmarkets assessed the tin 99...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday February 26.Please click...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 26 that are worth another look.China's steel industry has faced difficulties in production and sales since the first working day after the Lunar New Year holiday due to the novel coronavirus (2019-nCoV) outbreak, which has led to some 78,000 infections and close to 2,700 deaths in the country so far.Metal and ferro-alloy...Read More
China's steel industry has faced difficulties in production and sales since the first working day after the Lunar New Year holiday due to the novel coronavirus (2019-nCoV) outbreak, which has led to some 78,000 infections and close to 2,700 deaths in the country so far.Here are eight key effects of the outbreak has had on the Chinese steel industry, according to the China Iron & Steel Association...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday February 26.Please click...Read More
Lead was the worst performer on the London Metal Exchange at the close on Wednesday February 26, wiping out all gains it made on Tuesday. The three-month lead price closed at $1,817 per tonne, down from $1,858 per tonne the previous day when it had risen by 2%. Forward spreads in LME lead remain in a backwardation but significantly narrower than the previous day. The benchmark cash/three-month spr...Read More
Seaborne coking coal prices remained firm on Wednesday February 26, but some Chinese participants expressed doubts over the longevity of the strength given increasing concerns about the health of the global economy and with prices having been on an upwards trend for several weeks.Fastmarkets indicesPremium hard coking coal, fob DBCT: $159.30 per tonne, up $0.10 per tonnePremium hard coking coal, c...Read More
Domestic prices for hot-dipped galvanized coil (HDG) have narrowed upward in Northern Europe over the past week, supported by strong demand and an absence of imported alternative material, sources told Fastmarkets on Wednesday February 26.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was ?,?580-600 ($630-652) per tonne ex-works on February 26, compared with ?,?...Read More
The availability of Iranian steel billet was limited in the export markets because of strong domestic demand, Fastmarkets learned on Wednesday February 26.Weakening of the local currency against the US dollar was the reason for the increased domestic demand, with imports being more problematical."Continued devaluation [of the Iranian rial] means that local traders will keep buying to hedge against...Read More