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
Under the Biden administration the economy could overheat, thereby increasing inflation and the price of gold.In January, Biden unveiled his plan for stimulating the economy, which is struggling as the epidemic in the U.S. continues to unfold. Pundits welcomed the bold proposal of spending almost $2 trillion. Some expenditures, especially on vaccines and healthcare, sound pretty reasonable. Howeve...Read More
Lets start with the daily bar combo chart for the PM complex which shows the August trading range still under construction making lower lows and lower highs for the most part. Below is the daily bar PM combo chart showing the possible H&S tops. Over the last couple of weeks most of the PM stock indexes have formed a small blue consolidation pattern right around the neckline with most of them b...Read More
Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) expects one more domestic price increase for March, after raising prices by around 15% in February, commercial director Luis Martinez said on Tuesday February 23.The expected increase will be mostly aimed at hot-rolled and cold-rolled coil, with the company remaining cautious about competition with coated steel imports. Martinez forecast a...Read More
The electric vehicle (EV) revolution isgaining serious momentum.According to experts’ projections, demand for electric vehicles should rise at a 21.1%Compound Annual Growth Rate (CAGR) until 2026.The extraordinary demand that is forecast forEVs over the next five years has now begun to trigger a massive disruption inthe global energy markets. As demand for EVs continues to move higher,the d...Read More
The European Commission (EC) has decided not to impose preliminary anti-subsidy duties on hot-rolled coil originating from Turkey.The investigation, however, will continue, the EC said on February 18.The investigation was started in June 2020, following a complaint lodged by the European steel association Eurofer.Provisional measures in the anti-subsidy case were scheduled to be set by March 12, 2...Read More
Flat-rolled steel distributors in Brazil reported a 16.2% year-on-year increase in sales volumes during January, while daily rates reached their highest level in seven years, national distributor association Inda said on Tuesday February 23.Sales volumes reached 324,600 tonnes in January, up from 279,400 tonnes a year before, Inda data shows, while the daily average was 16,200 tonnes, the highest...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on February 23.Industry association Verband Deutscher Metallh??ndler (VDM)...Read More
Hot-rolled coil prices in the United States have risen yet again to an all-time high after buyers perceived that the tight availability of spot material likely will not loosen up before domestic mills begin a series of maintenance outages.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $61.17 per hundredweight ($1,223.40 per short ton) on Tuesday February 23, an incre...Read More
Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) expects one more domestic price increase for March, after raising prices by around 15% in February, commercial director Luis Martinez said on Tuesday February 23.The expected increase will be mostly aimed at hot-rolled and cold-rolled coil, with the company remaining cautious about competition with coated steel imports. Martinez forecast a...Read More
Steel scrap prices in Mexico resumed their downtrend in the week ended Friday February 19, especially in obsolete grades, with deals reported at lower prices because of energy and gas shortages in the country.A wide range of price cuts were reported, depending on volumes and grades. Most market participants saw price reductions of 300-600 pesos ($15-29) per tonne during the week, while some buyers...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on February 23.Industry association Verband Deutscher Metallh??ndler (VDM)...Read More
A bearish pall is emerging for the iron ore pellets market amid growing supply from Brazil and a shift in demand toward fines with the expected easing of sintering restrictions in China. Improved demand for finesChinese steelmakers will likely increase their consumption of iron ore fines once the winter heating season in China ends. Sintering restrictions imposed at the start of the heating season...Read More
Consolidation seeped into the complex on the London Metal Exchange during trading on Tuesday February 23, with copper the only one to close higher and most metals posting lower closing prices versus Monday, when all reached new 2021 highs.Nickel's three-month price, which reached $20,110 per tonne on Monday - the mosthighest level since May 2014 - was under selling pressure on Tuesday and fel...Read More
Iron ore prices went into reverse on Tuesday February 23 amid a correction after the surge on Monday, sources told Fastmarkets, but robust demand means prices should not fall much further.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $173.05 per tonne, down $2.91 per tonne62% Fe low-alumina fines, cfr Qingdao: $173.52 per tonne, down $2.46 per tonne58% Fe fines high-grade premium, cfr Qi...Read More
Seaborne premium hard coking coal prices in both the fob and cfr markets fluctuated on Tuesday February 23, while most market participants, uncertain where prices will go, adopted a wait-and-see attitude, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $138.78 per tonne, up $1.73 per tonnePremium hard coking coal, cfr Jingtang: $220.28 per tonne, down $3.11 per tonne Hard cokin...Read More
With less than one day left...by Chris Marcus of Arcadia EconomicsWith less than one day left in what some long-time silver veterans are calling the most important COMEX options expiration and delivery period in silver history, the price appears to have been "spoofed" to right under the $28 level.Of course the significance of the $28 level is tied to the COMEX silver options board, where there is...Read More
WHAT A BUNCH OF CRAP!!by Harvey Organ of Harvey Organ BlogFEB 22/COMEX OPTIONS EXPIRY TOMORROW//GOLD ROSE $30.00 TO $1808.65//SILVER UP 74 CENTS TO $27.96 AND BROKE THE 28 DOLLAR BARRIER IN THE ACCCESS MARKET// GOLD TONNAGE STANDING AT THE COMEX; 112.92 TONNES/SILVER STANDING 11.9 MILLION OZ//CORONAVIRUS UPDATES/VACCINE UPDATES// CHINA STOPS EXPORTS OF RARE EARTHS TO THE USA//IRAN VS USA: IRAN DEM...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Chinese export prices for seamless oil country tubular goods (OCTG) and linepipe barely moved in February 2021, after rallying in January, because the holidays to celebrate the Lunar New Year curbed market activity sharply.With the holiday now ended, we have seen some sharp jumps in round billet prices and we expect there to...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activity. Governments around the world closed their economies as the only tool available to li...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.The U.S has increased tariffs on $200bn of Chinese goods to 25%, from 10%, impacting a number of metals. Commentary below comes from the Wood Mackenzie metals team:Copper By Wood Mackenzie Senior Consultant, Yanting Zhou"Previous...Read More