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
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Citadel comprises the Calibre and Magnum deposits, which are both about 45km east of Rio Tinto's 503 million tonne Winu copper-gold discovery.Read More
The base price for hot-rolled special bar quality (SBQ) steel in the United States edged up this month while that for cold-finished SBQ remained flat, but market participants expect higher surcharges to push up prices for all SBQ products starting January 1, 2021.On the hot-rolled side of the market, Fastmarkets' monthly price assessment for steel bar hot-rolled special bar quality 1-inch round 10...Read More
Hot-rolled coil prices in the United States have achieved their highest level since September 2008 after a limited release of spot tonnage - offered at $50-51 per hundredweight ($1,000-1,020 per short ton) - provided a glimpse of things to come when order books eventually open again. Fastmarkets' daily steel hot-rolled coil index, fob mill US rose to $49.74 per hundredweight on Tuesday December 22...Read More
Steel rebar producers in the United Arab Emirates increased their prices on Tuesday December 22, but not by as much as expected due to the limited availability of imports, sources told Fastmarkets.Domestic rebarThe country's steel producers were offering rebar at 2,259-2,295.5 dirhams ($615-625) per tonne ex-works for orders to be produced in January, rising from 1,984,1,985 dirhams ($540) per ton...Read More
Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia continued to increase over the past week because of globally strong demand and reduced availability of some products, sources said on Tuesday December 22.Demand was not strong in the UAE and Saudi Arabia because stock levels were sufficient to meet limited end-user demand.Buyers were also reluctant to accept ...Read More
Feralpi Group has suspended operations at its Riesa works in Germany for planned maintenance, which will last for about four weeks, it said earlier this week.The company will idle steelmaking operations at Riesa in the Free State of Saxony, Germany, from December 21 to January 25, while the rolling mill will be idled from December 24 until January 18, the company said in a...Read More
The price of steel billet from the Commonwealth of Independent States (CIS) exported via the Black Sea continued to move up this week on the back of a new deal for wire-rod grade material to Turkey on Tuesday, December 22.Billet offers from Russian and Ukrainian suppliers were heard at $580-605 per tonne fob Black Sea on Tuesday, little changed from Monday.Turkey remained the major consumer o...Read More
The domestic hot-rolled coil price increased day on day in Northern Europe on Tuesday December 22 due to limited supply of the material across the EU.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?665.00 ($811.68) per tonne on Tuesday December 22, up by ?,?4.60 per tonne day on day from ?,?660.40 per tonne on Monday.The index was also up by ?,?28....Read More
Base metals prices on the Shanghai Futures Exchange were down across the board this morning, Tuesday December 22, as were most of the metals on the London Metal Exchange, with the exception of tin.Despite the United States Congress finally passing another Covid-19 recovery package, the metals were under pressure after the emergence of a new variant of the virus takes hold, which could increase the...Read More
Mexican ferrous scrap prices continued to rise in the week ended Friday December 18 amid supply constraints and rising global prices.Most market participants reported price increases of 200 pesos ($10) per tonne in both regions assessed by Fastmarkets, but there were reports of price increases varying between 50 and 450 pesos per tonne, depending on buyer and grade. A few buyers kept prices stable...Read More
Intuitive Surgical (ISRG), a NASDAQ 100 stock moved above $713.07 to an all-time high extending an intermediate uptrend. Workday (WDAY), a NASDAQ 100 stock moved above $248.75 to an all-time high extending an intermediate uptrend. Pre-opening Comments for Tuesday December 22ndU.S. equity index futures were higher this morning. S&P 500 futures were up 7 points following news that U.S Congr...Read More
Russia is set to impose early next year a temporary increase to its export duty on ferrous scrap exports to combat the threat of a shortage of steelmaking raw materials in the domestic market.On Friday December 18, Russia's Ministry of Economic Development approved an amendment to its export duty on ferrous steel scrap exports to 5% with a minimum level at ?,?45 per tonne, according to a statement...Read More
The premium hard coking coal in the fob market continued to be active while the seaborne premium hard coking coal cfr price began to lose its price advantage over its Chinese domestic counterpart on Tuesday December 22. Fastmarkets indices Premium hard coking coal, fob DBCT: $102.68 per tonne, up $0.29 per tonne Premium hard coking coal, cfr Jingtang: $190.20 per tonne, unchanged Hard coking coal,...Read More
Seaborne iron ore prices fell from their record highs on Tuesday December 22, after the market began "cooling off" following the introduction of new counter-speculation measures at the Dalian Commodity Exchange (DCE), sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $164.53 per tonne, down $11.92 per tonne62% Fe low-alumina fines, cfr Qingdao: $165.07 per...Read More
Nickel's three-month price on the London Metal Exchange was down by 1.6% during morning trading on Tuesday December 22, with the rest of the complex mostly trading lower given the spread of a new variant of Covid-19 across Europe. The LME nickel price was the most affected on Tuesday morning, dropping to $16,980 per tonne from Monday's 5pm close of $17,267 per tonne.The stainless-steel additive st...Read More
China's domestic rebar prices continued to surge on Tuesday December 22 to reach their highest in three years, though the gains have resulted in sparse trading in the market.DomesticEastern China (Shanghai): 4,680-4,700 yuan ($715-718) per tonne, up by 100 yuan per tonneSellers raised prices in response to early gains made in the futures market.The most-traded May rebar contract on the Shanghai Fu...Read More
Base metals prices on the Shanghai Futures Exchange were down across the board this morning, Tuesday December 22, as were most of the metals on the London Metal Exchange, with the exception of tin. Despite the United States Congress finally passing another Covid-19 recovery package, the metals were under pressure after the emergence of a new variant of the virus takes hold, which could increase th...Read More
China's Dalian Commodity Exchange (DCE) has tightened its limits on the opening of positions to 2,000 lots per day for non-brokerage members or clients on all iron ore futures contracts from Tuesday December 22.In an announcement on Monday evening, it said it would restrict the opening of positions - both long and short - to 2,000 lots per day on all iron ore futures contracts for such members and...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Read More