Aluminium's three-month price on the London Metal Exchange continued its downtrend during morning trading on Thursday May 9, drifting further away from its nearby $1,800-per-tonne support level amid a fresh cancelation of 23,000 tonnes.Aluminium futures are now trading at their lowest level since January 2017 at an intraday low of $1,784 per tonne.This month, more than 170,000 tonnes of aluminium...Read More

Guangxi Nanguo Copper's cathode output is unlikely to be affected by a halt of its copper anode operation line in late April, market sources told Fastmarkets MB on the sidelines of LME Asia Week in Hong Kong this week.Guangxi Nanguo Copper, also known as Guangxi Nanko, started up its 300,000-tonnes-per-year phase II project in the Guangxi Zhuang autonomous region of southern China on April 10 befo...Read More

Brazilian steel producer Companhia Sider??rgica Nacional (CSN) will pursue another price increase of 10% for its flat steel products, because of the current high prices for imported material in the country, chief executive officer Benjamin Steinbruch has said."We have a possibility to recover [steel] prices by 10%, depending on the product," Steinbruch said during a conference call with analysts t...Read More

Rebar prices in Egypt's domestic market widened downward in the week to Thursday May 9 because of limited demand caused by Ramadan and uncertainty over import duties.The Islamic holy month of Ramadan started earlier this week.Egypt imposed temporary import duties on billet and rebar on April 15 at a rate of 25% for rebar and...Read More

Turkey has terminated an investigation into the effects of steel product imports on the country's domestic steelmaking industry, the Official Gazette announced on Tuesday May 7.No additional duties or other measures will be imposed after the conclusion of the investigation.The probe was begun in April 2018, and considered imports from all origins of flat, long and stainless steel, along with steel...Read More

Turkish steel billet prices have remained stable over the past week although demand for both domestic and imported material was still sluggish, sources said on Thursday May 9.Steel-producing mills in the Commonwealth of Independent States (CIS) kept their offers steady at around $440-450 per tonne cfr, but their potential customers in Turkey were only interested in paying $420 per tonne or less.As...Read More

India is likely to be the rising star of the Asian steel markets longer term due to the expected growth in its steel demand, delegates at the Singapore Iron Ore Forum - the anchor event of Iron Ore Week - said on Thursday May 9."India's steel demand is expected to increase by 200 million tonnes in 20 years, with domestic production capacity likely to rise to match it," Wood Mackenzie bulks researc...Read More

International steel trading group Stemcor is cautiously optimistic about steel product prices further ahead in 2019, with key regional steel markets reaching their peak construction periods, it said this week."We began the second quarter with cautious optimism, entering peak construction periods in key markets and noting that central banks have largely discontinued raising interest rates for the f...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. Latest transactions: iron oreIron oreBHP, Global Ore, 80,000 tonnes of 62% Fe Newman fines, traded at the June average of a...Read More

Iron ore prices were generally little changed on Thursday May 9, while the low-alumina Yandi fines traded actively at stronger prices.MB 62% Fe Iron Ore Index: $95.38 per tonne cfr Qingdao, down $0.19 per tonne. MB 62% Fe Pilbara Blend Fines Index: $94.06 per tonne cfr Qingdao, down $0.19 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $98.23 per tonne cfr Qingdao, down $0.06 per tonne. MB 58% Fe...Read More

Prices for seaborne cargoes of premium coking coal sold to China retreated on Thursday May 9, though sentiment among Chinese market participants remains positive, at least for the near term.A June-loading cargo of a top Australia brand was traded at $211.55 per tonne cfr China during the day, slightly lower than a transaction involving similar materials a day earlier.A Capesize cargo of another br...Read More

Chinese steel demand in 2019 will likely exceed that in 2018, according to the China Iron & Steel Association (Cisa).The growth will likely come from the housing and infrastructure markets, coupled with relatively stable demand for steel from other downstream industries, the association's deputy director Wu Jingjing told delegates at the Singapore Iron Ore Forum, the anchor event of the Iron Ore W...Read More

Chinese hot-rolled coil prices dropped further on Thursday May 9 amid thin trading, with market participants getting spooked by rising concerns over deteriorating trade relations between China and the United States.DomesticEastern China (Shanghai): 4,050-4,060 yuan ($597-599) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,910-3,920 yuan per tonne, down 10-30 yuan per tonneAlthough pr...Read More

Chinese rebar prices weakened further on Thursday May 9 after United States President Donald Trump toughened his stance against China a day earlier and threatened to begin imposing higher tariffs on Chinese products as early as on Friday.Domestic Eastern China (Shanghai): 4,060-4,100 yuan ($599-605) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,930-3,980 yuan per tonne, down 10-20 y...Read More

Fastmarkets will host a free web seminar on Tuesday June 18 at 9.30am London time to discuss recent price moves in the cobalt market and how industry developments might affect the market going forward.Click here to register for the webinar. Date Tuesday June 18, 2019 Time 9.30am Join members of our cobalt price reporting and research team for: - An update on price assessment specifications, method...Read More

Spot demand for cobalt sulfate in China following the Labor Day holiday (May 1-4) has been weak, with consumers continuing to conduct "hand-to-mouth" procurement, Fastmarkets learned during the latest pricing session. Fastmarkets assessed the cobalt sulfate Co 20.5% min, ex-works China price at 50,000-52,000 yuan ($7,378-7,673) per tonne on Wednesday May 8, down 1% from 50,000-53,000 yuan per...Read More

Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets MB. Unless otherwise stated, all prices are yuan per tonne on an ex-works basis. The cobalt sulfate, Co 20.5% min, China ex-works, adjustment to the low-grade cobalt low-end price is on a $ per lb basis. Fastmarkets MB prices Click here for Fastmarket MB's price assessment for cobalt sulfate, Co 2...Read More

Bob Moriarty ArchivesMay 10, 2019The whole issue of electric vehicles (EV) vs. conventionally powered either gasoline or diesel vehicles are going to determine demand for a number of commodities. That would include palladium needed for gasoline-powered cars, platinum preferred for diesel autos, both copper and cobalt for EVs. Regardless of what you read, no one knows what consumer preferences will...Read More

As a gold and precious metals guy, I'm very often asked about investing in collectible coins.And I've always thought that was kind of odd. What do collectible coins have to do with gold?I mean, you wouldn't ask a farmer about fishing poles. You'd probably ask a fisherman.Still, there does exist an undeniable connection between precious metals and collectible coins. And you'll find that many (if no...Read More

Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 185,801110,39073,060142,078238,437400,939421,887 Change from Prior Reporting Period 8,526-66616,755-5,2102,83720,07118,926 Traders 18070795460261185 Small Speculators LongShortOpen Interest 49,10028,152450,039 -431,10220,028 non reportable positionsChange...Read More