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
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday February 19.China Low-grade seaborne manganese ore prices inched higher on a cif basis amid improved supplier sentiment due to rising logistics costs and the stronger South African rand, which reduces miners' netback in local currency.A steep rise in freight rates widened the gap between...Read More
Copper traders are starting to place bets that the metal will hit $12,000 per tonne by December but market makers say bullishly positioned options are dragging the metal's price higher sooner than that. Targeting March expiry, traders have placed 1,970 lots of call options at $9,000 per tonne on the London Metal Exchange, giving the holder the right to buy the metal if that level is hit; a further...Read More
Iron ore prices drifted down on Friday February 19, on weakening demand from Chinese steel mills, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $173.55 per tonne, down $1.50 per tonne62% Fe low-alumina fines, cfr Qingdao: $174.00 per tonne, down $1.50 per tonne58% Fe fines high-grade premium, cfr Qingdao: $159.21 per tonne, down $1.01 per tonne65% Fe Brazil-origi...Read More
The seaborne low-volatility pulverized coal injection (PCI) cfr price declined on Friday February 19 on alleviated Russian-origin material supply tightness while the majority of Australian coal cargoes were still in anchorage, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $141.13 per tonne, down $0.13 per tonnePremium hard coking coal, cfr Jingtang: $217.48 per tonne, unchang...Read More
The signs that the breakpoint is nearing continue to emerge at a rapidly accelerating rate...by Chris Marcus of Arcadia EconomicsWhat you're not being told about #silver right nowI like to think that I can understand and associate with the frustration in the silver community over having seen the price manipulation go on for so long.Yet while some have waited for as long as 41 years, the signs that...Read More
Ferrous scrap prices in the key global markets have gone up in the week to Friday February 19 with stronger steel demand following the return of market participants from China's Lunar New Year holiday.Turkish steel mills resumed their deep-sea scrap purchases at higher pricesUS ferrous scrap exporters seek higher pricesPost-holiday rebound in steel trade drives up scrap import prices in VietnamUpt...Read More
The cost of austenitic alloy steel scrap in the UK and Europe increased again over the past week on higher nickel costs, sources told Fastmarkets on Friday February 19.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?1,150-1,200 ($1,601-1,670) per tonne on Friday, an increase of ?20 per tonne week on...Read More
The LME copper price was close to $9,000 per tonne for the first time since September 2011 on Friday February 19, on a day when bullishness took hold of the base metals complex, with tin's price also rising significantly - by nearly $1,300. The red metal's three-month price rallied to $8,995 per tonne during trading, before pulling pack slightly to $8,900 per tonne at the 5pm close. The rise...Read More
An overview of the new energy materials markets and their latest price moves. Susan Zou and Sybil Pan...Read More
Copper traders are starting to place bets that the metal will hit $12,000 per tonne by December but market makers say bullishly positioned options are dragging the metal's price higher sooner than that. Targeting March expiry, traders have placed 1,970 lots of call options at $9,000 per tonne on the London Metal Exchange, giving the holder the right to buy the metal if that level is hit; a further...Read More
Copper concentrate treatment and refining charges (TC/RCs) dipped slightly this week with only hand-to-mouth purchases made after China's Lunar New Year holiday, sources told Fastmarkets on February 19.Fastmarkets' benchmark copper concentrates TC/RC index, cif Asia Pacific settled at $35.80 per tonne / 3.58 cents per lb on Friday February 19, down from $36.2 per tonne / 3.62 cents per lb a week e...Read More
A summary of Canadian base metals miner Hudbay Minerals' results for the fourth quarter and full year of 2020. Summary: The company's adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) for 2020 decreased by 14.4% to $306.7 million from 2019's full year figure of $358.5 million. This was despite adjusted Ebitda in the fourth quarter growing by 30% year on y...Read More
Inventories of base metals, with the exception of tin, increased in Shanghai Futures Exchange-registered warehouses in the week to Friday February 19, with zinc leading the way, according to the latest stocks report.On the second trading day for the exchange after the Chinese New Year break, zinc inventories stood at 101,919 tonnes, an increase of 32,553 tonnes, or 46.9%, from 69,366 tonnes on Feb...Read More
Aluminium producer Rusal will be the preferred global supplier of primary foundry alloys (PFA) for Kosei, a global wheel and auto components manufacturer, Rusal said on Friday February 19. Kosei designs and manufactures wheels, autoparts and components. It has 14 sites operating in seven countries. Rusal had previously provided primary foundry aluminium alloys to Kosei factories in India, Japan, T...Read More
Brazilian slab export prices were stable for the fifth consecutive week amid continuing low availability.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil remained at $760-780 per tonne fob on Friday February 19.Since mid-January, sellers have been more cautious about their...Read More
Hot-rolled coil prices in the Unites States rose again to an all-time high as buyers struggled to find spot material, according to market participants.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $60.61 per hundredweight ($1,212.20 per short ton) on Friday February 19, an increase of 0.56% from $60.27 per cwt the previous day and up 3.31% from $58.67 per cwt one we...Read More
The domestic hot-rolled coil price in Northern Europe was fairly stable day on day on Friday February 19, supported by reduced availability of material. Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?723.75 ($873.28) per tonne on Friday, down by ?,?1.25 per tonne from ?,?725 per tonne on February 18. The index was, however, up by ?,?3.75 per...Read More
Hot-dipped galvanized (HDG) coil producers in Turkey increased their prices during the week to Friday February 19 on strong demand, sources told Fastmarkets.The main reason for the increasing prices was that high level of demand, but there were also rising prices for hot-rolled coil base material.Fastmarkets' weekly price assessment for steel hot-rolled coil, domestic, exw Turkey, was $750-770 per...Read More
Turkey sold at least two cargoes of hot-rolled coil (HRC) to the United States over the week to Friday February 19, and market sources expect prices to keep increasing on strong demand in all markets, sources said.Turkey's exports to the US have been very limited since August 2018, when Section 232 tariffs rose to 50% for Turkish steel.The duty was reduced back down to 25% in May 2019, but Tukey's...Read More
Prices for secondary steel billet in India surged by 3,600 rupees ($49) per tonne in the week to Friday February 19 on increased demand across the country and the likely continuation of power shortages in central India's major hubs for secondary steelmaking.Fastmarkets' price assessment for steel billet, domestic, ex-works India, was up on Friday to 37,400-37,600 rupees ($514-517) per tonne compar...Read More