Trade disputes and geopolitical uncertainties had already made the prospects for global economic growth uncertain. A coronavirus has now added to the challenges facing financial markets.The epicenter of the virus is Wuhan, an important commercial hub in China that is home to 11.9 million people, including the country's largest student population. It is also a manufacturing hub, with around 500 fac...Read More
Fastmarkets published its Shanghai copper cathode premium assessments later than scheduled on Wednesday January 29 due to a technical error.The affected assessments are as follows:MB-CU-0403 - Copper grade A cathode premium, cif Shanghai, $/tonneMB-CU-0380 - Copper grade A cathode ER premium, cif Shanghai, $/tonneMB-CU-0384 - Copper grade A cathode SX-EW premium, cif Shanghai, $/tonneMB-CU-0405 -...Read More
Steel billet prices in the Turkish market have continued to slide in line with falling imported scrap values, sources said on Thursday January 30.Offers of billet from the Commonwealth of Independent States (CIS) slipped by another $5 per tonne to $405-410 per tonne cfr, with bids from Turkish producers down to $400 per tonne cfr.Fastmarkets' weekly price...Read More
Prices for steel billet imported into Egypt dropped again in the week ending Thursday January 30 amid weak demand, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?9,650-10,000 ($610-632) per tonne ex-works including 14% VAT, unchanged since last week.Deals were heard at these prices.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar),...Read More
Iranian export steel billet and slab markets were slow in the week to Thursday January 30, with Chinese market participants still away for Lunar New Year and US sanctions undermining buying appetite. The steel billet index export, fob Black Sea, CIS slipped by $4 per tonne over the week, to $392 per tonne on January 30 amid weakening scrap prices. Fastmarkets' daily index for s...Read More
Turkish long steel export prices remained steady over the past week, with no immediate expectations of an upturn due to falling imported scrap costs, sources said on Thursday January 30.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) export, fob main port Turkey, was unchanged week on week at $425-430 per tonne on Thursday.Steel mills in the country were offering the materia...Read More
The Wuhan coronavirus will likely influence fundamentals in China's steel market and Chinese export trends in the near future, sources told Fastmarkets this week.Industry sources have sketched out a number of scenarios that may happen, especially if the situation becomes drawn out and restrictions on travel and transportation persist into the foreseeable future."If logistical restrictions continue...Read More
Japanese scrap prices continued to tumble this week, pushed down by disappointing demand in both the domestic and export markets, sources told Fastmarkets on Thursday January 30. "Steel mill production and demand in Japan is not so good, so scrap prices are decreasing, but scrap generation is also poor," one scrapyard source said "So even though the local mills' buying prices are falling, I don't...Read More
Heavy rainfall in the Brazilian southeastern state of Minas Gerais has caused interruptions for some railway operators transporting iron ore for exports, but the impact has been minimal, companies told Fastmarkets on Wednesday January 29.January 2020 has had the highest rainfall rate in 110 years, the Minas Gerais' state governor office said on Wednesday. Vale, the world's largest iron ore pr...Read More
Seaborne coking coal prices were unchanged on Thursday January 30, despite Australian miner Anglo American confirming a 'geotechnical issue at Moranbah North [mine in Queensland, Australia] during development works, which resulted in a roof fall incident.'Fastmarkets' indicesPremium hard coking coal, fob DBCT: $152.29 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $162.73 per tonne, u...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Oil demand growth has been weak in 2019, with the OPEC+ group surprisingly extending their cuts by a further 500 kbd through to end of Q1 in 2020. In spite of that, fears of sustained weak demand growth have restricted Brent to mid US...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Join us for an exclusive Forum, co-chaired by SVP and Global Head of Metals and Mining, Linda Cardillo Doku and SVP and Vice Chairman of Metals and Mining, Julian Kettle – this event brings together Wood Mackenzie’s top su...Read More
Seaborne iron ore prices were down on Thursday January 30 while market participants further lowered estimates of physical transaction prices amid talk of steel production cuts in China and resulting concerns over the impact on mills' raw material procurement. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $84.94 per tonne, down $1.90 per tonne62% Fe low-alumina fines, cfr Qingdao: $86.55 p...Read More
John Meyer, Sergey Raevskiy and Simon Beardsmore of SP Angel clinched the top spot on the base metals leaderboard for the Apex fourth-quarter 2019 predictions, with an accuracy rating of 99.29%, while Rhona O'Connell of INTL FC Stone came top for precious metals with a rating of 99.26%.For steel raw materials, ABN Amro's Casper Burgering topped the leaderboard with a 97.44% accuracy score.Click on...Read More
A mixture of fears over supply disruptions amid the Wuhan coronavirus outbreak and low stocks in Rotterdam are giving European traders enough leverage to increase their offers substantially, which has already an effect on prices.Fastmarkets' manganese 99.7% electrolytic manganese flake, in-whs Rotterdam price assessment rose to $1,725-1,800 per tonne on January 29, up by 3.7% from $1,680- 1,720 pe...Read More
subscribe: https://www.youtube.com/toddshapiroshowTodd Shapiro of the Todd Shapiro Show on SiriusXM Canada Talks CH 167 sits down with Frank Holmes CEO of US Global Investors (http://www.usfunds.com/) to talk the markets!Todd Shapiro on Twitter @ iamToddyTicklesListen weekdays from 5pm-7pm est on SiriusXM Canada Talks Ch.167!www.TheToddShapiroShow.com1-855-958-8255DOWNLOAD THE PODCAST!https://itun...Read More
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The gold sector is finally showing signs of life after a multi-year slide that put most of the gold miners off the radar of Canadian investors.Gold resurgenceThe price of gold currently trades at US$1,590 per ounce compared to its 12-month low around US$1,270. Gold briefly topped US$1,600 earlier this month and could potentially break through that level again and take a run at new six-year highs i...Read More
The last decade has been extremely tough for the world’s largest publicly listed uranium miner Cameco (TSX:CCO)(NYSE:CCJ). The radioactive fuel uranium has been caught in a prolonged slump since the 2011 Fukushima disaster sparked considerable unease around the world regarding the dangers posed by nuclear power. During 2019, the spot price for uranium lost 10% to be trading at US$24.93 per p...Read More