Europe's anti-dumping duty on imports of wire rod originating from China will expire after October 16, 2020, unless a review is initiated, the European Commission (EC) said on Monday February 3.The EC had maintained a 24% anti-dumping duty that was applied to all imports of Chinese wire rod, except material from Valin Group, on which the rate was 7.9%, following the previous expiry review in Octob...Read More

As international exchanges continue to encourage trade in their ferrous contracts, Fastmarkets asks market experts for their views on progress in steel price risk management over the past year and the outlook for 2020.Speaking with Fastmarkets a year ago, Phillip Price, steel derivatives expert, and since then founder of Pool, said that he had seen a sea change in the steel sector's attitude towar...Read More

Eastern China's rebar prices continued to weaken on Tuesday February 4 due to destocking pressure, though those in the northern region held steady on an inactive market.Eastern China (Shanghai): 3,360-3,400 yuan ($480-486) per tonne, down 40-50 yuan per tonneNorthern China (Beijing): 3,540-3,560 yuan per tonne, unchangedMost participants in Shanghai and Beijing were still away from the market due...Read More

Flat steel suppliers to Russia's Central Federal District around Moscow increased offers for material, citing reduced availability, while in the secondary market there were no reports of improved demand, Fastmarkets learned on Monday February 3.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia was 41,000-42,500 roubles ($643-659) per tonne on Februa...Read More

Turkish deep-sea scrap import prices fell sharply on Tuesday February 4, on news of fresh cargoes from the Baltic Sea and the United States.A steel mill in the Iskenderun region booked a Baltic Sea cargo, sources said, comprising 25,000 tonnes of HMS 1&2 (80:20) at $251 per tonne and 5,000 tonnes of bonus at $261 per tonne cfr. The cargo is scheduled to be shipped in March.Meanwhile, another...Read More

Seaborne coking coal prices were down on Tuesday February 4, with spot trading activity resuming after over a week. Fastmarkets indices Premium hard coking coal, fob DBCT: $147.89 per tonne, down $2.90 per tonne Premium hard coking coal, cfr Jingtang: $160.13 per tonne, down $2.60 per tonne Hard coking coal, fob DBCT: $127.01 per tonne, unchanged Hard coking coal, cfr Jingtang: $140.82 p...Read More

Seaborne iron ore prices rose on Tuesday February 4 alongside an uptick in buying activity in the seaborne spot market. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $83.76 per tonne, up $3.38 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $82.60 per tonne, up $3.18 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $85.10 per tonne, up $3.49 per tonne. 58% Fe fines high-premium, cfr...Read More

China's hot-rolled coil market was largely inactive on Tuesday February 4, with what few offers from mills generating little interest because they were considered as too high.DomesticEastern China (Shanghai): 3,600 yuan ($513) per tonne, down 30-50 yuan per tonneNorthern China (Tangshan): 3,300 yuan per tonne, unchangedA Shanghai-based trader said sellers in the city lowered their offers by 30-50...Read More

A rebound is underway across a broad set of markets, with China's CSI 300 index up by 2.5% this morning, after China's central bank pumped money into the financial system and appears to be working to stabilize markets and calm fears.Most Asian equity indices are rebounding.Gold prices are retreating as they pull back from Friday's highs.US 10-year government bond yields are firmer too. Base metals...Read More

Hebei Steel, China's second-largest steel mill, has set its price for silico-manganese for February delivery at 7,200 yuan ($1,027) per tonne, market participants told Fastmarkets on Tuesday February 4.This was up by 600 yuan per tonne from the mill's January tender price, they added.The price from Hebei Steel, which is for cargoes delivered to warehouse, includes value-added tax and should be pai...Read More

Glencore's ferro-chrome production dropped by 9% in 2019 due to maintenance taken during periods of high costs and low prices, the trader-miner announced on Tuesday February 4.Glencore, which operates a chrome joint venture with South Africa's Merafe Resources, produced 1.44 million tonnes of ferro-chrome in 2019, down from 1.58 million tonnes in 2018."Attributable ferrochrome production of 1,438,...Read More

The TSX hides some surprisingly rich yields that are just right for income investors buying in February. Steel and banking are two unlikely areas that abound in rich dividends, showcasing some of the most rewarding stocks on the TSX. Today, we’ll take a brief overview of a pair of stocks that pay +6% yields for a diversified mix of passive-income assets drawn from the cream of Canadian busin...Read More

Bob Moriarty ArchivesFeb 5, 2020Hint: That’s what massive tops look like. Don’t tell anyone else, I want to keep it a secret between you and me.###Bob MoriartyPresident: 321goldArchives321gold LtdRead More

The precious metals producer said yesterday it had received the US$11.Read More

Principal analyst Farid Ahmed said this week original equipment (OE) manufacturers in the US and China, which accounted for about 40% of the world's automotive manufacturing capacity, experienced production contractions during 2019, with pressure expected to persist in these key markets.Global OE demand shrank last year, with China down 8% and the US down 14%. Global OE demand is forecast to rever...Read More

Is it the end of oil?It's about time, isn't it?Watching WTI prices fall below $50 per barrel for the first time in over a year, even the best of us can get that bearish twinge of concern.But this isn't 2014.You probably remember that painful crash just as much as I do. Prices collapsed nearly 75%, from over $100 per barrel all the way down to around $26 per barrel.All it took was a global pandemic...Read More

Craig Hemke, TF MetalsAt the recently completed World Economic Forum in Davos, many interesting stories and headlines emerged. Here's one you may have missed.In our 2020 forecast, we wrote that you should expect higher gold and silver prices this year due to a continuation of the trends from 2019. And we expect great things for "all forms of precious metal" as the global investment community slo...Read More

Keith Weiner, PhD, Monetary MetalsWe apologize for not posting articles during January. We have been busy, and going forward will publish a separate Market Report every Monday morning plus macroeconomics essays later in the week, as time permits.This is our annual analysis of the gold and silver markets. We look at the market players, dynamics, fallacies, drivers, and finally give our prediction...Read More

Jordan Roy-Byrne CMT, MFTALast week we noted that the risks in precious metals were primarily technical. Sentiment and technicals urge caution over the short-term. The net speculative position in Gold has remained high for months while the 21-day daily sentiment index (DSI) hit 81%. Since the sector peak five months ago, Silver and the gold stocks have corrected in price while Gold has made a...Read More

The cost is CA$8 million, payable by issuing common corporate shares. Ely Gold Royalties Inc. (ELY:TSX.V; ELYGF:OTCQB) announced in a news release it agreed to purchase from Eric Sprott a 0.50% net smelter returns (NSR) royalty, the Target Royalty, on the gold-producing Jerritt Canyon mine in Elko, Nevada.Ely Gold already holds a per ton royalty interest on the Jerritt Canyon processing facilitie...Read More