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
Here are five Fastmarkets stories you might have missed on Thursday December 24 that are worth another look.The United Kingdom and European Union have reached an agreement on a trade deal that will ensure tariff-free trading of most goods between the country and the bloc after December 31 when the withdrawal...Read More
Hot-rolled coil prices in the United States continue at record highs, with tags at or above $50 per hundredweight ($1,000 per short ton) - a level last seen during the bull rush of 2008. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $50 per cwt on Thursday December 24, roughly flat from $50.06 per cwt the day prior and 1.58% higher than $49.22 per cwt the previous w...Read More
Brazilian slab export prices rose this past week, when sellers increased offers in an attempt to achieve higher price levels.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil rose to $670-685 per tonne fob on Thursday December 24, up from $650-670 per tonne fob on Friday December 18.Sellers have been probing...Read More
The British light iron market was steady over the week to Wednesday December 23 as trading activity slowed ahead of the Christmas and New Year holidays, with many traders already off work, trade sources told Fastmarkets.Still, with European export markets into key destinations such as Turkey climbing since Friday December 18, it seems likely that UK steel scrap prices will extend their price gains...Read More
Here are five Fastmarkets stories you might have missed on Thursday December 24 that are worth another look.The United Kingdom and European Union have reached an agreement on a trade deal that will ensure tariff-free trading of most goods between the country and the bloc after December 31 when the withdrawal...Read More
We're entering a perfect storm for silver. Not only are central bank balance sheets exploding, but major economies are passing stimulus bills. What's more...by Peter Krauth via Streetwise ReportsIn many ways, most of us can't wait to put 2020 behind us and call it last year.We've experienced a once-a-century global pandemic, infecting almost 80 million people. Lockdowns caused businesses to shutt...Read More
Iron ore prices began to rise again on Thursday December 24, sources said, supported by falling steel inventories in China. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $166.05 per tonne, up $4.02 per tonne62% Fe low-alumina fines, cfr Qingdao: $167.30 per tonne, up $4.94 per tonne58% Fe fines high-grade premium, cfr Qingdao: $154.25 per tonne, up $2.71 per tonne65% Fe Br...Read More
It is easy to manipulate prices when you have no counterparty...by Harvey Organ of Harvey Organ BlogDEC23//GOLD UP $7.40 TO $1873.70//SILVER UP 33 CENTS TO $25.75//STRONG QUEUE JUMP OF .55 TONNES: NEW GOLD TONNAGE STANDING: 93.3 TONNES/ALSO STRONG ADVANCE IN SILVER STANDING UP TO 47 MILLION OZ//CORONAVIRUS UPDATE: UK USA AND THE GLOBE//IN THE USA BIG DROP IN GOVERNMENT WAGES//INITIAL JOBLESS GAINS...Read More
The London Metal Exchange three-month aluminium, nickel and zinc prices all rose by over 1% in morning trading on Thursday December 24, with the market weighing likely deals on US coronavirus relief funds and Brexit against the renewed pandemic spread across Europe. "Metals and broader markets seem to be settling down ahead of the Christmas and New Year holidays, with dips still being bought, sugg...Read More
The parabolic move in Tesla stock has been the result of a short squeeze, and the meteoric ascent may well resemble what will happen to silver when...Ted Butler with Chris Marcus of Arcadia EconomicsIn today's episode of the show, #silvermanipulation analyst #TedButler makes the case that the parabolic move in Tesla stock has been the result of a short squeeze, and that Tesla's meteoric ascent may...Read More
The cfr price for seaborne premium hard coking coal edged up further on Thursday December 24, with new transactions sealed at higher prices. China's ban on Australian coal led to the decline in demand for Australian premium low-volatility hard coking coal, and premium mid-volatility hard coking coal has been sold at a higher price than premium low-vol material in the fob market, sources...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Prices of stainless steel are generally set to reach highs for the year as 2020 comes to a close. For the most common nickel-containing grades of stainless steel, this upward trend is being driven above all by rising nickel prices, which themselves are hitting relatively high levels into the end of 2020.The price increases si...Read More
Mood optimistic as US and European dealers close for holidays. E-commerce surges; US online sales +30% on Super Saturday and +56% on Sunday before Christmas. Brick-and-mortar quiet due to spread of Covid-19. Chinese jewelers expecting release of pent-up demand during Feb. 12 Lunar New Year. Manufacturers raising polished production in anticipation of post-holiday inventory replacement. Rough tradi...Read More
RAPAPORT... New York's Diamond District is set to sparkle on TV this Tuesday night in the documentary series Streets of Dreams with Marcus Lemonis.The series presenter is a self-declared "champion of entrepreneurs" who is seeking to discover what makes America's most famous streets tick. As Lemonis walks amid the hustle and bustle of hawkers and diamond dealers on 47th Street, he has one clea...Read More
RAPAPORT... Romania's Supreme Court has sentenced mining magnate Beny Steinmetz to five years' imprisonment in a land-fraud case, according to Israeli media.The businessman, who has counted diamond mines among his vast interests, was accused of being involved in corruption carried out by a company for which he was a partner and adviser, Globes reported last week.Following the fall of Communis...Read More
RAPAPORT... US consumer confidence fell almost 5% this month amid the latest coronavirus wave, according to the Conference Board.The business data group's Consumer Confidence Index declined to 88.6 in December, from 92.9 in November, it reported Tuesday. Americans gave a weaker assessment of current business and labor conditions - a fact that outweighed an improvement in their short-term outl...Read More
RAPAPORT... Lucapa Diamond Company is in advanced negotiations to acquire the Merlin mine in Australia after the site's owner entered liquidation earlier this year."The Lucapa board considers that Merlin would be complementary to the company's existing niche operating mines and exploration projects in Angola, Australia, Botswana and Lesotho, and is a development opportunity that would significantl...Read More
Import prices for flat-rolled steel products in South America continued their nearly three-month uptrend as Chinese material was presented at higher levels for March 2021 and April 2021 shipments following ongoing domestic strength.Interest from buyers went quiet ahead of the year-end holidays, however, market participants said. Most clients were waiting to see if prices would correct down next mo...Read More
(IDEX Online) - Alrosa raised $7m at its fourth online sale of special-size rough.The Russian state-owned miner launched digital tenders in May to give buyers an opportunity to buy large stones (over 10.8-carats) remotely using 3D scans by Sarine.It hasn't disclosed the value of previous sales. In December it sold 80 per cent of the goods available - 185 rough diamonds with a tota...Read More
Steel billet and rebar prices have increased again in Egypt in the week to Thursday December 24, with demand for rebar said to be moderate because of restocking, market sources told Fastmarkets.Locally produced billet was sufficient to meet demand from rebar producers, so buyers did not book any import billet.Demand for rebar and billet has been slow in the country since the imposition of a ban on...Read More