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
Import scrap prices in Bangladesh has risen quickly in the past week alongside global spot prices, but buyers are growing increasingly wary, industry source told Fastmarkets on Thursday December 24. "It is a very confusing market this week, with prices all over the place and no one really sure about how things will pan out," a ferrous scrap trader in Singapore told Fastmarkets on Thursday. Offers...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
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 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
China's hot-rolled coil prices regained some stability on Thursday December 24 although the market was inactive.DomesticEastern China (Shanghai): 4,800-4,820 yuan ($734-737) per tonne, up 10-20 yuan per tonneA Shanghai-based trader said that while some sellers had asked for prices as high as 4,840 yuan per tonne in the morning, no transactions were concluded until their offers fell to 4,800-4,820...Read More
China's stainless steel prices lost their upward momentum over the week ended Wednesday December 23 after nickel and stainless steel futures tumbled.The three-month nickel contract on the London Metal Exchange ended the Wednesday official session at $16,747 per tonne, down by $682 per tonne $17,429 per tonne a week earlier. The most-traded February stainless steel contract on the Shanghai Futures...Read More
Base metals prices on the Shanghai Futures Exchange were up across the board this morning, Thursday December 24, while those on the London Metal Exchange were mixed.Metals and broader markets seem to be settling down ahead of the Christmas and New Year holidays, with dips still being bought, suggesting markets are content to consolidate while many cross currents muddy the waters. Markets seems to...Read More
Slow port operations at Durban in South Africa and limited container space are helping to keep cobalt hydroxide payables underpinned at their highest in at least two years on Thursday December 24. Spot availability of cobalt intermediates is limited due to tight container space and reduced shipping schedules over the upcoming holiday period, in a market where availability outside long-term contrac...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 standard grade, in-whs Rotterdam, $/lb at 15.30-15.90 on Thursday...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.Fastmarkets assessed Cobalt alloy...Read More
Spot cobalt metal prices in China rose on Wednesday December 23 following a sharp rally in local futures prices, while availability of spot cargoes has started to tightened after major producers held back from making offers due to a widening price gap between metal and sulfate.Fastmarkets' assessment for cobalt 99.8% Co min, ex-works China was 257,500-268,500 yuan ($39,370-41,052) per tonne on Wed...Read More
Key data from Fastmarkets' pricing session in China on Wednesday December 23. Key drivers After having risen for three consecutive weeks, China's domestic indium price ticked down amid weakening futures market and sparse buying interest.The January indium contract on the Wuxi Stainless Steel Exchange closed at 1,170 yuan ($179) per kg on Wednesday, down by 4.5% from 1,225 yuan per kg...Read More
Import prices for containerized ferrous scrap into Taiwan continued on an uptrend in the week to Thursday December 24 amid limited supply and strong demand. Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was at $440 per tonne on Thursday, unchanged day on day but up by $35-40 per tonne from $400-405 per t...Read More
The new coronavirus strain found in the United Kingdom has raised fears of scrap supply shortages which could feed the runaway prices in Asia, market sources told Fastmarkets in the week to Thursday December 24."The new strain could make scrap collection harder in Europe and wherever it spreads to, reducing the supply to markets such as Vietnam" a Japanese trader said.Scrapyards in key suppliers U...Read More
Key pricing data from the pricing sessions in Europe and Asia for the week ended December 24.China Most producers insisted on higher prices for battery grade lithium carbonate, citing a lack of material, and are targeting over 50,000 yuan ($7,658) per tonne for January 2021. China's industrial-grade lithium carbonate market reported offers of 43,000-46,000 yuan per tonne this week, but trading act...Read More
Traders generally buy and sell securities more frequently and hold positions for much shorter periods than investors, which can result in costly mistakes.Read full newsRead More
Gold futures ended higher Wednesday, with the precious metal halting a three day decline, as the U.S. dollar softened. Bolstered by a weaker dollar, gold prices jumped as much as 1% on Wednesday, as investors kept hopes pinned on a U.S. stimulus package even after President Donald Trump threatened to not sign the relief bill. Bullion, considered a hedge against inflation and currency debasement,...Read More
Warren Buffett shocked the world when Berkshire Hathaway disclosed a stake in TSX-traded gold miner Barrick Gold (TSX:ABX)(NYSE:GOLD). While I find it unlikely that the decision to get into the name was the Oracle of Omaha’s (I think it was one of his colleagues), the fact that Buffett wasn’t against it was as good as a gold stamp of approval for his fans to follow in his footsteps.Now...Read More
It looks as though Congress is finally on the verge of passing the long-awaited second coronavirus stimulus bill. But before anyone gets too excited I feel compelled to remind you how the last one went.Despite all the media hype surrounding the $1,200 stimulus checks (not much when you consider the average monthly rent in America is $1,468), you should remember the program was overwhelmingly a sl...Read More
Merry Christmas, folks. I hope you all are having a wonderful holiday.I know the markets are.Stocks were off to another strong week heading into the 12 days of Christmas.This sets us up for another potential record-breaker by New Year's Day.Seasonal factors combined with the end-of-year Santa rally appear ready to provide a nice tailwind. More importantly, strong positive sentiment that we will so...Read More