Turkish steel mills have started booking deep-sea scrap for January shipment at higher prices, sources said on Wednesday November 27.A steel mill in the Marmara region booked a European cargo, comprising 25,000 tonnes of HMS 1&2 (75:25), 5,000 tonnes of shredded and 5,000 tonnes of a mixture of HMS 1, and plate and structural scrap (P&S) at an average price of $262.50 per tonne cfr late on Tuesday...Read More

Physical iron ore prices generally weakened on Wednesday November 27 amid further losses in futures and steel markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.56 per tonne, down $1.74 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.59 per tonne, down $1.74 per tonne.62% Fe low-alumina fines, cfr Qingdao: $87.03 per tonne, down $1.68 per tonne.58% Fe fines hi...Read More

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials....Read More

Seaborne coking coal prices moved up on Wednesday November 27, driven by buying activity from China.Fastmarkets indicesPremium hard coking coal, fob DBCT: $133 per tonne, up $0.30 per tonnePremium hard coking coal, cfr Jingtang: $147.49 per tonne, up $2.10 per tonneHard coking coal, fob DBCT: $120.70 per tonne, unchangedHard coking coal, cfr Jingtang: $130.25 per tonne, unchang...Read More

Further positive signs of a phase one trade deal between the United States and China boosted sentiment across a broad selection of markets on Tuesday November 26, and that included most of the base metals, but so far today metal prices have generally been consolidating.US equity markets climbed to fresh highs on Tuesday after US President Donald Trump said the US and China are close to agreeing a...Read More

Base metals prices on the Shanghai Futures Exchange were mostly down during the morning trading session on Wednesday on November 27, with only copper and zinc registering slight gains.The lackluster performance by the SHFE base metals this morning comes despite more positive news over an initial trade agreement between the United States and China.US President Donald Trump said on Tuesday that the...Read More

The premium for aluminium P1020A in Italy hit a three-year low in the week ended Tuesday November 26, while the premium in the United States continued to decline amid bearishness stemming from the persistent backwardation in London Metal Exchange forward price spreads.US Midwest premium down by 18.4% since JanuaryEuropean traders still watching LME spreadsMJP participants focused on Q1 negotiation...Read More

Key data from the Wednesday November 27 pricing session in Shanghai. Key drivers  The Chinese cobalt sulfate price broke the eight-week downward streak, holding on fresh restocking appetite and producer reluctance to sell at lower levels amid strength in the metal's futures market. The cobalt metal contract price on the Wuxi Stainless Steel Exchange rose by nearly 1% on Wednesday after b...Read More

Miner-trader Glencore suspended operations at its Mutanda copper-cobalt mine in the Democratic Republic of Congo (DRC) early this week - a month earlier than previously expected.The premature suspension is said to be due to a shortage of sulphuric acid, a key component used in copper and cobalt extraction, market sources told Fastmarkets.Glencore had not responded to requests for comment at the ti...Read More

Key data from Fastmarkets' pricing session in Europe on Wednesday November 27. Key drivers The alloy and scrap markets were unchanged in the past week, with suppliers holding their offer prices in expectation of potential price increases on renewed demand for 2020 deliveries. The alloy price range held for a third consecutive week on muted trading since Fastmarkets' International Ferro-a...Read More

The precious metals sector remains in a correction. The miners have shown some positive signs but are not ready to move yet because the metals likely have more correction ahead.Technical support levels can provide us with low risk buy opportunities but combine that with sentiment data and we increase our odds of success.One reason why the sector is stuck in a correction is because the net speculat...Read More

The precious metals sector remains in a correction. The miners have shown some positive signs but are not ready to move yet because the metals likely have more correction ahead.Technical support levels can provide us with low risk buy opportunities but combine that with sentiment data and we increase our odds of success.One reason why the sector is stuck in a correction is because the net speculat...Read More

Market indices in Australia, Toronto and the US all achieved new highs.US third quarter GDP was revised upwards while signs of a slowdown in China were seen as a possible push towards reaching a trade deal.However US futures and Asian markets were mixed today as concerns over trade tensions reignited after US president Donald Trump signed a bill supporting Hong Kong protestors, Bloomberg reported....Read More

Speaking during the Guangzhou International Jewellery and Diamond conference, Zimnisky said the market glut was on track to correct as long as global demand for diamonds did not significantlyRead More

For its outlay, NRW will acquire a business that's forecast to generate revenue of about $850 million in the current financial year and earnings (EBITDA) of about $100 million.To fund the deal NRW is undertaking a $120 million raising via a fully underwritten placement pricing new shares at between $2.65 and $2.85 each - with a bookbuild to decide final pricing.As well as adding BGC Contracting's...Read More

The decision by a three-person panel was the final word in the contested case challenge to the mining permit that started in April 2018.The Menominee Indian Tribe of Wisconsin appealed the court's initial decision, but the EGLE panel voted unanimously in support of the prior ruling, determining that "the proposed mining operation will not pollute, impair, or destroy the air, water, and other natur...Read More

We celebrated Thanksgiving early this year.Yesterday, to be exact, as Wednesday, was the only day we could actually get everyone in the same room at the same time.It was still your typical Thanksgiving, though.Turkey, mashed potatoes, stuffing, and plenty of wine for the adults and apple cider for the kids.We also went around the table and asked the obligatory, "What are you thankful for?"We heard...Read More

Links to Slides and Sources: https://www.itmtrading.com/blog/will-...Lynette Zang has held the position of Chief Market Analyst at ITM Trading since 2002. Ms. Zang has been in the markets on some level since 1964. Her mission is to convert financial noise into understandable language. She has been a banker, a stock broker and studied world currencies since 1987. She believes strongly that we need...Read More

Central banks’ purchases and repatriations of goldhave caught our attention once again. In October, Serbia’s central bank bought 9 tons of gold, following in thefootsteps of many other central banks that have been adding to their goldreserves recently, including Russia, Hungary, and Poland. Nine tons may seem to be a modest purchase, but thetransaction was worth $438 million at $1,503...Read More

Goldreversed yesterday, and so did the rest of the precious metal sector.Mining stocks and – what’s important – silver showed strength relative to goldand rallied even more than gold. Silver’s strength is important because itindicates that we are already in the second half of the short-term upswing inthe precious metals market. If there only was a tool that would provide us...Read More