Australia's Danakali's (ASX, LON:DNK) said Monday it was about to close debt financing agreements worth $200 million with two African financial institutions, which will allow it fund construction and growth of its flagship Colluli potash project in Eritrea.The deals with African Export-Import Bank (Afreximbank) and Africa Finance Corporation (AFC) could be finalized "any day" and are expected to...Read More
Australia's Danakali's (ASX, LON:DNK) said Monday it was about to close debt financing agreements worth $200 million with two African financial institutions, which will allow it fund construction and growth of its flagship Colluli potash project in Eritrea.The deals with African Export-Import Bank (Afreximbank) and Africa Finance Corporation (AFC) could be finalized "any day" and are expected to...Read More
May 24th, 2019(S14-E697)Featured GuestsProfessor Laurence Kotlikoff &Professor Alexander KosovichevPlease Listen Here Interview RecapStanford University professor, Alexander Kosovichev makes his show debut with an overview of his unique solar research.Using NASA space craft readings of our nearest star, the Sun, our guest adjusted the acoustic waves.The debate continues over the true nature o...Read More
By: David Haggith...when the stock market's decade-long bottom trend becomes its new top trend and then it can't even make it back up to that line as a top trend.We're sloughing away now, and it can be a long slide to the bottom or endless side-winding of big ups and downs that go nowhere, just as the market has now gone nowhere for fifteen months.Yes, if you bought in January, 2018, (when I...Read More
By: SRSrocco As the markets sold off on Thursday, gold, and silver were few of the only assets that remained in the green for the entire day. Thus, the notion that the precious metals will crash with the markets continues to be proven wrong. And what an ugly day it was as the Dow Jones fell 450 points at its low, while the Dollar, oil, and shale stocks were clobbered. Of course, there was...Read More
Missing InflationDebt RubiconVelocity FallingThe Complex Debt and Currency Dance"Too High and Getting Wider"They Shall Not Grow OldModern technology was supposed to make travel less necessary. We can meet by phone, video, and now in virtual reality. But we're still traveling more than ever. I certainly am.The reason is simple: Technology can't yet replace face-to-face conversation, and especiall...Read More
Global steel billet markets continued to improve during the week ended Friday May 24 following the United States' removal of additional import duties against Turkey.Mills in Turkey fully returned to the scrap markets and paid higher prices after the United States removed the additional duties, which means that Turkey is once more on a level playing field with other prospective exporters to the US,...Read More
China Communications Construction Co (CCCC) plans to build a steel rolling mill by 2023 in Marab??, a city in the Brazilian northern state of Par??, through its local subsidiary Concremat, the company said on Thursday May 23.Iron ore producer Vale will be involved as well, ensuring collateral for the project funding, the miner stated. The unit will need around 1.5 billion Reais ($371 million) in c...Read More
CIS billet producers further increased their export offers on Thursday May 23, still buoyed by last week's halving of import taxes on Turkish steel by US president Donald Trump.The US import tax on Turkish steel products is now in line with products from most other countries at 25%, and the US move improved market sentiment generally and resulted in higher scrap prices.CIS...Read More
May 24th, 2019(S14-E697)Featured GuestsProfessor Laurence Kotlikoff &Professor Alexander KosovichevPlease Listen Here Interview RecapStanford University professor, Alexander Kosovichev makes his show debut with an overview of his unique solar research.Using NASA space craft readings of our nearest star, the Sun, our guest adjusted the acoustic waves.The debate continues over the true nature o...Read More
By: David Haggith...when the stock market's decade-long bottom trend becomes its new top trend and then it can't even make it back up to that line as a top trend.We're sloughing away now, and it can be a long slide to the bottom or endless side-winding of big ups and downs that go nowhere, just as the market has now gone nowhere for fifteen months.Yes, if you bought in January, 2018, (when I...Read More
By: SRSrocco As the markets sold off on Thursday, gold, and silver were few of the only assets that remained in the green for the entire day. Thus, the notion that the precious metals will crash with the markets continues to be proven wrong. And what an ugly day it was as the Dow Jones fell 450 points at its low, while the Dollar, oil, and shale stocks were clobbered. Of course, there was...Read More
Missing InflationDebt RubiconVelocity FallingThe Complex Debt and Currency Dance"Too High and Getting Wider"They Shall Not Grow OldModern technology was supposed to make travel less necessary. We can meet by phone, video, and now in virtual reality. But we're still traveling more than ever. I certainly am.The reason is simple: Technology can't yet replace face-to-face conversation, and especiall...Read More
The United States' reduction of tariffs on Turkish steel imports to 25% from 50% last week will only partially reopen the US market to Turkish mills, who should avoid raising prices if they are to successfully regain a share in that market, several sources told Fastmarkets this week. The US has lowered its tariffs on steel imports from Turkey to 25% effective Friday May 17. Duties had been at...Read More
Global steel billet markets continued to improve during the week ended Friday May 24 following the United States' removal of additional import duties against Turkey.Mills in Turkey fully returned to the scrap markets and paid higher prices after the United States removed the additional duties, which means that Turkey is once more on a level playing field with other prospective exporters to the US,...Read More
Here are five Fastmarkets MB stories you might have missed on Friday May 24 that are worth another look.The three-month nickel price on the London Metal Exchange climbed by more than 4% at the close of trading on Friday May 24, soaring beyond $12,300 per tonne amid a slight softening of the dollar index and while investors sought to cover shorts ahead of the next week's bank holiday...Read More
South32's decision to review the future of its manganese alloy assets comes as little surprise to fellow manganese alloy producers because they are likely to be considering similar options. The review, which could result in the divestment of the assets, reflects a wider predicament affecting alloy producers struggling with historically high ore prices and a subdued market for their own product. So...Read More
The London Metal Exchange has decided on a dispute over when the load-in, load-out (LILO) rule should have been activated, ruling in favor of warehouse company Istim. People familiar with the situation said that the warehousing firm had been found to have acted vigorously and without delay in its dealings with Glencore at its warehouses in Port Klang, Malaysia, following large cancellations of alu...Read More
The temporary truce on tariffs between China and the United States could be over, injecting a new round of uncertainty into the global financial markets and suspending hopes that a resolution to the countries' trade impasse was likely.US President Donald Trump has threatened to raise the tariff on $200 billion-worth of Chinese imports to 25% from 10% by Friday May 10. He also said that the US may...Read More
Here are five Fastmarkets MB stories you might have missed on Friday May 24 that are worth another look.The three-month nickel price on the London Metal Exchange climbed by more than 4% at the close of trading on Friday May 24, soaring beyond $12,300 per tonne amid a slight softening of the dollar index and while investors sought to cover shorts ahead of the next week's bank holiday...Read More