Brazilian pig iron exporters were trying to avoid any rapid falls in price that might occur due to the slump in the ferrous scrap market, sources told Fastmarkets on Friday September 6.Fastmarkets' weekly price assessment for pig iron, export, fob Vitorio/Rio, Brazil, was $310-315 per tonne on Friday, narrowing downward from $310-320 per tonne last week.Scrap is the relative substitute for pig iro...Read More
Prices for ferrous scrap imported into India fell further this week following a downturn in global market conditions, sources told Fastmarkets on Friday September 6.Fastmarkets' weekly price assessment for steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $278 per tonne on Friday, down by $13.20 per tonne from $291.20 per tonne a week ago.This week, offers for shredded scrap into I...Read More
This week's drop in the inter-merchant spot market for UK light iron scrap ended a 10-week run of stability, with weakening export prices to key destinations in Turkey and the Indian sub-continent weighing on British domestic steel scrap prices.The move is seen as a precursor to contract settlements for delivery of steel scrap to British steelmakers from domestic suppliers - sources expect them to...Read More
Seaborne iron ore prices continued to correct below the $90-per-tonne-cfr mark on Friday September 6 amid futures losses and thin physical trading.62% Fe fines, cfr Qingdao: $89.05 per tonne, down $1.13 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $89.44 per tonne, down $1.13 per tonne.62% Fe low-alumina fines, cfr Qingdao: $86.80 per tonne, down $1.07 per tonne.58% Fe fines h...Read More
Prices for seaborne premium hard coking coal on an fob Australia basis edged up on Friday September 6 while the other segments remained stable, leaving buyers and sellers on the lookout for factors that could set a more definite tone for the market. Fastmarkets indicesPremium hard coking coal, fob DBCT: $151.43 per tonne, up $2.34 per tonne Premium hard coking coal, cfr Jingtang: $169.01 per tonne...Read More
China's hot-rolled coil sellers lowered their prices on Friday September 6 following declining trading activity over the course of this week.DomesticEastern China (Shanghai): 3,650-3,670 yuan ($511-514) per tonne, down 30-40 yuan per tonneNorthern China (Tangshan): 3,600-3,610 yuan per tonne, down 30-40 yuan per tonneMills cut their ex-works prices in the morning, which put pressure on the spot ma...Read More
China's domestic rebar prices retreated on Friday September 6 due to weaker demand caused by a typhoon on the country's eastern coast. Domestic Eastern China (Shanghai): 3,620-3,650 yuan ($504-508) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,630-3,660 yuan per tonne, widening downward by 10 per tonneEastern and Southern China experienced heavy rain during the day as a result of Ty...Read More
An overview of the minor metals markets and their latest price moves.Read More
The following Fastmarkets minor metals prices changed on Friday September 6:Bismuth 99.99% Bi min, in-whs China, yuan/tonne: 39,000-40,000 yuan per tonne from 40,000-41,000 yuanChromium alumino-thermic 99% min, in-whs Rotterdam, $/tonne: $6,750-7,000 per tonne from $6,800-7,200Cobalt alloy grade, in-whs Rotterdam, $/lb: $17.05-18.35 per lb from...Read More
Increased sales of low-grade product and favorable currency moves have allowed South African manganese miner Tshipi to declare an additional dividend, owner Jupiter Mines announced on Friday September 6.The new dividend is worth 600 million rand ($40.46 million), taking Tshipi's total dividend for the first half of its 2020 financial year to 1.75 billion rand."The dividend is higher than previousl...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves. Read More
What difference a few days makes, with base metals and broader, non-haven, markets looking considerably more upbeat recently, with copper prices on Thursday September 5 reaching levels last seen in early August - that after just two-days of gains. That said, the metals are consolidating this morning.This risk-on move has seen gold, the Japanese yen and outright benchmark United States 10-year trea...Read More
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Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 365,38564,83855,608147,717485,458568,710605,904 Change from Prior Reporting Period 2,776-9331,311-1,1492,7862,9383,164 Traders 22563835559312178 Small Speculators LongShortOpen Interest 65,64828,454634,358 -4,763-4,989-1,825 non reportable...Read More
Gary SavageGold pushing into a resistance area, will it be an intermediate top?Gary SavageRead More
By: Ira EpsteinWill gold churn around $1,530? Gold could not breakout higher past the upper Bollinger band and the breakdown has done nothing to the chart, does not start a new trend, yet:Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 365,38564,83855,608147,717485,458568,710605,904 Change from Prior Reporting Period 2,776-9331,311-1,1492,7862,9383,164 Traders 22563835559312178 Small Speculators LongShortOpen Interest 65,64828,454634,358 -4,763-4,989-1,825 non reportable...Read More