Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
Iskenderun Demir Celik (Isdemir), a subsidiary of Turkey's biggest steel producing group Erdemir Group, has started planned maintenance at its blast furnace no 2. The maintenance will last 44 days starting from Tuesday November 24 and is not expected to have a major effect on the company's output, Isdemir said. Isdemir produces steel billet, slab, wire rod and hot-rolled coil at its facility in Is...Read More
Prices for hollow steel sections in Europe moved up this week following a continued rise in feedstock costs and a lack of imports, sources told Fastmarkets on Wednesday November 25.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?660-680 ($783-807) per tonne on Wednesday, up from ?,?640-660 per tonne one week previous.The availability of hot rol...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Jefferies said copper demand from renewable energy could rise to 6.Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Solaris said the above-mentioned hole had returned 0.59% copper, 0.03% molybdenum and 0.05g/t gold, "far beyond the length of the corresponding historical hole and bottoming in mineralisation at the depth-capacity of the rig".The other two results were 918m at 0.5% Cu-eq and 884m at 0.62% Cu-eq, all from drilli...Read More
The price rise in the CIS steel billet export market has temporarily stopped because sentiment in Asia has subsided, although mills have kept their offer prices high, sources told Fastmarkets on Wednesday November 25.Offers of steel billet from Russian and Ukrainian mills were heard within the range of $470-500 per tonne fob on Wednesday this week, little changed from Tuesday.Most mills were offer...Read More
Iran's export prices for steel billet and slab continued to rise over the week to Wednesday November 25, and new deals were expected to be made soon, Fastmarkets has learnt.Fastmarkets' weekly price assessment for steel billet, export, fob ports Iran, was $440-445 per tonne on November 25, rising from $430-438 per tonne on November 18.Last week, billet was sold at $425-438 per tonne fob Iran.No de...Read More
Base metals prices on the London Metal Exchange were mixed this morning, Wednesday November 25, as were those on the Shanghai Futures Exchange, but overall they seem to be consolidating in high ground, with copper having set a fresh high for the year at $7,360 per tonne earlier this morning.* US president-elect Joe Biden’s transition to the White House has boosted global confidence...* ...thi...Read More
CME Group's busheling futures contract traded a total of 198 lots (3,960 tons) on Tuesday November 24.The front-month December contract was unchanged from the previous session at $352 per ton but traded three lots at $350 per ton, one lot at $351 per ton and one lot at $352 per...Read More
Stainless steel scrap prices in the United States have maintained their upward momentum, with processors and dealers reporting that they were thankful for rising prices - despite continued tight supply - ahead of the US Thanksgiving holiday, celebrated Thursday November 26."Even with higher prices, we are having trouble keeping the flow of scrap into the yard. What is out there is being fought har...Read More
Export appetite for US deep-sea ferrous scrap cargoes was muted in the week to Wednesday November 25 despite a spate of activity at the beginning of the month.Still, market sources were quick to point out underlying market strength, with reported container shortages and rising ocean freight rates expected to bolster the export market in the near future. No cargo sales booked from the US East Coast...Read More
Turkish steel mills resumed their deep-sea scrap purchases despite higher prices, due to growing demand for finished steel and increased competition for scrap, sources told Fastmarkets on Wednesday November 25.A steel mill in the Iskenderun region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 5,000 tonnes of bonus at an average price of $341 pe...Read More
Russian steelmaker Metalloinvest, which is the largest global supplier of hot-briquetted iron (HBI), may increase its shipments of the material by 10% by early 2023.The company started modernization of one of three HBI plants at its Lebedinsky GOK asset in mid-November. The project was scheduled for completion by early 2023.Once the modernization is completed, the plant's capacity will increase by...Read More
Canadian forest product stocks continue moving higher. West Fraser Timber moved above $75.06 extending an intermediate uptrend.Pre-opening Comments for Wednesday November 25thU.S. equity index futures were mixed this morning. S&P 500 futures were down 2 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EST. October Durable Goods Or...Read More
The recent surge in container freight costs and availability of cargo space continue to disrupt trade flows in minerals and metals, with trading companies finding themselves unable to dodge the soaring shipping rates.A combination of fewer vessels on the water, an imbalance in trade flows to and from China, and competition between cargoes has kickstarted a rapid increase in shipping costs for...Read More
Seaborne iron ore prices were mostly stable on Wednesday November 25, with mill margins still healthy despite mixed expectations on steel demand, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $127.41 per tonne, down $0.01 per tonne62% Fe low-alumina fines, cfr Qingdao: $127.69 per tonne, up $0.02 per tonne58% Fe fines high-grade premium, cfr Qingdao:&n...Read More
The seaborne premium hard coking coal fob index fell drastically on Wednesday November 25 after the most recent transaction was sealed at a lower price. Chinese market participants were envious of their counterparts abroad, who are enjoying a lower price level for Australian premium hard coking coal while they are restricted from importing, sources said.Fastmarkets indicesPremium hard coking coal,...Read More
Copper's three-month price reached a near seven-year high during morning trading on the London Metal Exchange on Wednesday November 25 on bullish macroeconomic trends, while other base metals showed a mix of small rises and falls. The red metal rose to $7,360 per tonne in morning trading, surpassing a price last seen in January 2014, before easing back to $7,287 per tonne by 9:10am, a slight dip f...Read More
China's domestic rebar market maintained its downward trend on Wednesday November 25 amid a pessimistic outlook among participants. DomesticEastern China (Shanghai): 4,090-4,120 yuan ($621-625) per tonne, down by 50-60 yuan per tonnePersistently bad weather in various parts of the country lowered trading activity during the day. Sources expect this factor to continue to put pressure on end-user de...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey, Dalila Ouerghi and Michael Greenfield in London, Susan Zou...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Cristina Belda and Declan Conway contributed to this...Read More