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
Usiminas increased its output and domestic sales volumes over the past 45 days from first-quarter and 2019 volumes, the Brazil-based flat steel producer said in a filing to Brazilian securities and exchange commission CVM.It produced 533,000 tonnes of rolled steel between November 1 and December 15, or around 11,800 tonnes per day, up by 0.2% from the daily average in January-March this year and b...Read More
The European Commission has calculated preliminary anti-dumping duties for Turkish hot-rolled coil at 4.80-7.60%, it said in a letter sent to interested parties, market sources told Fastmarkets on Thursday December 17. Provisional measures in the case, if any, will be imposed by January 14 next year, and the calculated duties can be changed at any time up to this deadline. Definitive duties are sc...Read More
Uncertainty surrounding Brexit - with no trade deal agreed yet between the United Kingdom and the European Union - has prompted spot activity in some minor metals and ferro-alloys markets, with market participants finding difficulties in moving their material across the borders. Traders in the UK have increased their orders in the last few weeks ahead of potential import duties that might be comin...Read More
Key data from Fastmarkets' pricing session in Europe on Friday December 18, during which the European aluminium pressure diecasting ingot, DIN226/A380 price climbed to its highest level since August 2015.Key drivers: European sellers continued to report strong export demand from Asia and raw materials shortages across the continent as the key tailwind for higher offers of 226 ingots, with scrap un...Read More
Following a six-week consultation period, Fastmarkets will change the frequency of its zinc spot concentrate treatment charges (TC) price assessment to fortnightly from its present monthly timing.Fastmarkets will change the frequency of its price assessment from January 2021 for MB-ZN-0110 zinc spot concentrate TC, cif China, $/tonne after receiving overwhelmingly positive feedback from our reader...Read More
Hot-rolled coil prices in the United States have climbed above $49.50 per hundredweight ($990 per short ton), while buyers have voiced concerns that the rapid run-up in prices may mean a potential inventory devaluation in the future. Fastmarkets' daily steel hot-rolled coil index, fob mill US rose to $49.56 per cwt ($991.20 per ton) on Friday December 18, up by 0.69% from $49.22 per cwt on Thursda...Read More
Ulas Alkan has joined VTB Capital, where he will trade a range of commodities in the base metals space, Fastmarkets understands.Alkan joins from fellow Zug merchants Cliveden where he specialized in zinc and lead, prior...Read More
The temporary closure of Japanese carmaker Honda's Swindon plant last week sparked concerns through the local downstream aluminium sector that a no-deal Brexit would prompt a chain reaction of automotive closures and sound the death knell for UK car production. Compounding this, a global pandemic, bloated freight costs, overpriced containers and the proliferation of scrap shortages have driven alu...Read More
Key data from Fastmarkets' pricing session in Europe on Friday December 18, during which the European aluminium pressure diecasting ingot, DIN226/A380 price climbed to its highest level since August 2015.Key drivers: European sellers continued to report strong export demand from Asia and raw materials shortages across the continent as the key tailwind for higher offers of 226 ingots, with scrap un...Read More
Copper and tin set further year-to-date highs during trading on Friday December 18, with the LME base metals complex in high ground in anticipation of a US economic stimulus package. The red metal's three-month price reached a new 2020 high of $8,028 per tonne during early trading on Friday, settling at $7,985 per tonne at the 5pm close - a 0.8% rise from Thursday's $7,920 per tonne close.&nb...Read More
Spot market copper concentrate treatment and refining charges were largely unchanged while the market began to conclude annual benchmark-related supply contracts, Fastmarkets heard in the week to December 18.United States mining company Freeport-McMoRan agreed 2021 copper concentrate TC/RCs with its Chinese smelter counterparts at $59.50 per tonne / 5.95 cents per lb, their lowest since 2011.Short...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US flat product prices maintained momentum through November, with increases accelerating in early December in response to supply shortfalls, rising scrap prices, and improving demand.While we correctly forecast further pricing gains in November, actual prices surpasse...Read More
Vitcoin and baccines may have stolen the headlines this week faster than the election was stolen, but with silver, it's blink now and have fun chasing...(by Half Dollar) I'd like to write write about a few different topics today.BITCOINHonestly, I pay no mind to Bitcoin, or at least I pay it as little mind as possible.If you want to gamble in a rigged casino, then by all means, go have at it, but...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Chinese domestic and export flat steel prices surged in November 2020, with the export hot-rolled coil index rising to $592 per tonne during the month from $519 per tonne previously, and the monthly average increasing by 7.5% over October.Economic activity in China continued to expand, with manufacturing output rising by 7.5...Read More
New rounds of price increases during the week ended Friday December 18 fueled the uptrend in South America's flat steel import market that has been seen throughout the fourth quarter, market participants told Fastmarkets.Chinese mills were no longer offering cargoes to the region for February shipment, and some had even denied orders for March and were awaiting the new year to offer cargo for Apri...Read More
Aluminium billet premiums in the United States, Europe and Asia rose on Friday December 18, with strong fundamentals supporting the increases.Low stocks propel US premium higher European spot market tight; participants focused on Q2 negotiations Bullish Q1 MJP P1020 negotiations pull Thailand premium upUnited StatesFastmarkets assessed the aluminium 6063 extrusion billet premium, delivered Midwest...Read More
Copper and tin set further year-to-date highs during trading on Friday December 18, with the LME base metals complex in high ground in anticipation of a US economic stimulus package. The red metal's three-month price reached a new 2020 high of $8,028 per tonne during early trading on Friday, settling at $7,985 per tonne at the 5pm close - a 0.8% rise from Thursday's $7,920 per tonne close.&nb...Read More
An overview of the new energy raw materials markets and their latest price moves.Susan Zou, Sybil Pan, and Sally...Read More
Spot market copper concentrate treatment and refining charges were largely unchanged while the market began to conclude annual benchmark-related supply contracts, Fastmarkets heard in the week to December 18.United States mining company Freeport-McMoRan agreed 2021 copper concentrate TC/RCs with its Chinese smelter counterparts at $59.50 per tonne / 5.95 cents per lb, their lowest since 2011.Short...Read More
Rusal has strongly denied claims that it violated the terms of its agreement with the US Office of Foreign Assets Control (OFAC) to reduce Russian billionaire Oleg Deripaska's influence over the aluminium producer.A Bloomberg News article on Thursday December 17 claimed that European officials passed on information to the US government accusing Deripaska of violating conditions that - when they we...Read More