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
Ely Gold Royalties reported it finalized the purchase of a 1% net smelter returns royalty on the Lincoln Hill Property in Nevada, raising its NSR stake in the property operated by Coeur Mining to 2%. Ely Gold Royalties Inc. (ELY:TSX.V; ELYGF:OTCQX; I4U:FSE) announced in a news release that it has completed the acquisition of 100% of all rights and interests to a 1% net smelter returns royalty (NS...Read More
Iron ore prices mostly declined on Monday January 11 along with futures, however, high-grade fines performed well due to tight supply, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $172.13 per tonne,down $0.93 per tonne62% Fe low-alumina fines, cfr Qingdao: $172.25 per tonne,down $1.08 per tonne58% Fe fines high-grade premium, cfr Qingdao: $157.87 per tonne,down...Read More
2021 started off well for gold. It’s not surprising, as January is usually positive for the yellow metal, but the Georgia runoff results may constitute an additional bullish factor in the longer term.What a start to the new year! Gold has begun 2021 very well : as the chart below shows, the price of the yellow metal (London A.M. Fix) increased from $1,891 on December 31, 2020 to $1,947 on Ja...Read More
If you follow our research, you already know my research team and I have authored multiple articles related to how Metals and Miners are poised for a big rally in 2021 and beyond. But do you understand what this means for other market sectors and assets? Are you ready for one of the most dynamic investing environments we’ve seen since 1945 or earlier? Gold and Miners are showing...Read More
Ford Motor Co announced that it will cease manufacturing activities in Brazil following "years of significant losses" and idle capacity exacerbated by the Covid-19 pandemic.The automaker said on Monday January 11 that it will stop operating three plants in the country - one in Ca??amari city, in northeastern Bahia state; one in Taubat?(C) city, in southeastern S??o Paulo state; and a third one in...Read More
Turkey's Ministry of Trade announced on Saturday January 9 the initiation of an anti-dumping investigation into imports of hot-rolled flat steel from the European Union and South Korea.The products under investigation are under HS codes 7208.10.00, 7208.25.00, 7208.26.00, 7208.27.00, 7208.36.00, 7208.37.00, 7208.38.00, 7208.39.00, 7208.40.00, 7208.52.10, 7208.52.99, 7208.53.10, 7208.53.90, 7208.54...Read More
Here are five Fastmarkets stories you might have missed on Monday January 11 that are worth another look.Brazilian flat steel producers have applied price increases of around 15% on sales to distributors, motivated by high raw materials costs and sustained higher steel prices globally.Read More
The US ferrous scrap market has mostly settled for January, with market participants hinting that while tight No1 busheling may see continued upside in February, shredded scrap has become plentiful and has likely peaked.Detroit kicked off trading on Wednesday January 6, while activity in the Chicago market dragged into Monday January 11.Fastmarkets' assessments of the consumer buying prices f...Read More
Prices for domestic steel hot-rolled coil increased slightly in Northern Europe in the week to Friday January 8, with ArcelorMittal pushing its offer prices further upward.Market sources expected that domestic prices would continue to rise through January with buyers facing continuing supply shortages.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?...Read More
Brazilian flat steel producers have applied price increases of around 15% on sales to distributors, motivated by high raw materials costs and sustained higher steel prices globally. The increase is in addition to the 10% rise in prices applied in December by most steelmakers.Fastmarkets' monthly price assessment for steel hot-rolled coil, domestic, monthly, exw Brazil was 5,080-5,10...Read More
Here are five Fastmarkets stories you might have missed on Monday January 11 that are worth another look.Brazilian flat steel producers have applied price increases of around 15% on sales to distributors, motivated by high raw materials costs and sustained higher steel prices globally.Read More
China's regulatory reboot to again become a major steel scrap importer is likely to cause supply problems for other consumers of Japanese material, market participants have told Fastmarkets.The first deals signed by Chinese companies after rules changed on December 31 to officially allow the restart of scrap imports to China have all been for vessels of Japanese material.If this continues, China's...Read More
Waiting times for aluminium at Istim warehouses in Port Klang, Malaysia, fell to just 20 days at the end of December, according to the London Metal Exchange's latest queue report.This is down from 30 days at the end of November and 71 days at the end of October.There was a queue for aluminium at Istim warehouses in Port Klang every month in 2020.The queues originally built up due a series of...Read More
The London Metal Exchange's average daily volume (ADV) of trades declined across all base metals in December 2020 despite price rallies, according to latest LME data. Copper's ADV had the smallest decline but was still down 11.9% year on year at 119,141 lots. This came in spite of the average official three-month copper price increasing by 9.8% in December month on month to an average of $7,7...Read More
The seaborne hard coking coal cfr price rose by $1 per tonne to $196.03 per tonne cfr China on Monday January 11 while coke producers in parts of China proposed a 13th round of domestic price increases of around 100 yuan ($15) per tonne - effective from 12am China time on January 13, Fastmarkets understands.Fastmarkets indicesPremium hard coking coal, fob DBCT: $103.93 per tonne, unchangedPremium...Read More
Is inflation running hot, and will silver be able to reclaim $25?(by Half Dollar) There is a lot of inflation data coming out this week, and we also get the December Retail Sales Report on Friday.Some of the reports in the week ahead include, in chronological order of release:Consumer Price Index (Inflation)Jobless Claims*Producer Price Index (Inflation)December Retail SalesIndustrial Production (...Read More
RAPAPORT... Lucapa Diamond Company has sold $5.6 million worth of rough to manufacturer Safdico via a partnership the two companies formed last year.The Graff subsidiary bought 4,676 carats of diamonds from the Mothae deposit in Lesotho at Lucapa's first sale of goods from the site this year, the miner reported Monday. The sale achieved an average price of $1,198 per carat, the highest Lucapa has...Read More
RAPAPORT... Sales at Hong Kong-based jeweler Chow Tai Fook grew 17.5% year on year in the last three months of 2020 as a recovery in mainland China outweighed weakness in its home territory."In light of the easing Covid-19 situation in mainland China, business there sustained an encouraging improvement," the company said in a trading update on Monday. "Challenging macros, the pandemic develop...Read More
RAPAPORT... Gem Diamonds received a New Year's surprise, retrieving a 146.9-carat rough diamond from its Let??eng mine in Lesotho.The miner found the high-quality, type II diamond on January 7, it said last week. The stone is the first 100-carat-plus diamond the company has found this year. The discovery also comes a month earlier than 2020's first recovery of a stone in that size category, which...Read More
Glencore has concluded discussions with the Zambian government about the sale of a majority stake in the Mopani copper mine, state media reported on Friday January 8.An agreement will be signed this week, according to a report by the Zambian National Broadcasting Corp, citing President Edgar Lungu."Glencore confirms that it is in final-stage negotiations relating to a possible sale of Carlisa's 90...Read More