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
RAPAPORT... Boaz Moldawsky has been elected president of the Israel Diamond Exchange (IDE) for a three-year term, succeeding Yoram Dvash.Moldawsky, who has previously served as vice president of the IDE, won after two rounds of voting, the IDE said Sunday. The co-CEO of the Moldawsky Group, a diamond-manufacturing and trading company, has also been chairman of the Israel Diamond Institute (IDI). A...Read More
Bullish sentiment returned to the London Metal Exchange during afternoon trading on Wednesday February 24, with nickel up by 1.8%, aluminium setting a new 2021 high, and most metals closing higher than on Tuesday following a limited period of selling and consolidation after new 2021 highs.Nickel's three-month price showed the biggest rise on Wednesday at 5pm, to $19,709 per tonne, after closing be...Read More
Nickel futures prices in London rose on Wednesday February 24 after the world's top producer, Norilsk Nickel, announced it had suspended production at two of its mines: Oktyabrsky and Taimyrsky. The London Metal Exchange three-month nickel price was recently trading at $19,660 per tonne, 1.5% higher than at the 5pm close on Tuesday February 23.The price has rallied significantly in February, curre...Read More
Tight supply of lead ingots resulted in an increase in lead premiums in the United States in the week to Tuesday February 23, taking them close to 2013 levels, while zinc premiums remained stable across the world.Lead's three-month contract price on the London Metal Exchange reached $2,185 per tonne on February 22, the highest since October 31, 2019.Zinc premiums were unchanged in China and Europe...Read More
Copper cathode premiums rose in Europe in the week to Tuesday February 23 due to rebounding demand from end users and economies beginning to recover from winter pandemic lockdowns. Elsewhere the markets were quieter, with consumers waiting until the last minute to buy spot cathode given soaring London Metal Exchange copper prices. The exchange's three-month contract hit a 10-year high of $9,342 pe...Read More
Premiums for nickel plate and briquette in China were flat in the week to Tuesday February 23 amid a lack of spot activity, but the nickel sulfate price in the country rose to a fresh all-time high, with a robust domestic electric vehicle (EV) market providing support.Premiums in Europe were also unchanged this past week, as were those for briquette in the United States, but US cut cathode premium...Read More
Brazilian steel prices have reached an equilibrium in comparison with international prices and are expected to remain at current premiums to imports, Gerdau chief executive officer Gustavo Werneck said on Wednesday February 24.The CEO estimates that the domestic rebar premium over imports reached 15% in February, and that the premium for domestic hot-rolled coil climbed to 11%. There is still cost...Read More
Prices for steel hollow sections in Europe were unchanged over the past week, but mills were said to be considering a round of increases, sources told Fastmarkets on Wednesday February 24.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?860-880 ($1,045-1,070) per tonne on Wednesday, unchanged week on week.The price of hot-rolled coil - the feed...Read More
Domestic prices for steel hot-rolled coil in Europe continued to recover over the week to Wednesday February 24, supported by material shortages combined with good demand, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?730.68 ($888.23) per tonne on Wednesday, up by ?,?4.68 per tonne from ?,?726.00 per tonne on Februa...Read More
Domestic mesh-quality steel wire rod market in Northern Europe was quiet and largely stable over the past week, sources told Fastmarkets on Wednesday February 24.Buyers adopted a 'wait-and-see' stance and were only buying hand to mouth due to expectations that producers would lower their prices after European scrap prices decrease in February, sources said.Producers, meanwhile, intend to keep pric...Read More
Prices for steel H-beams in Europe remained steady on Wednesday February 24 following a recent period of volatility on the market, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?740-760 ($899-924) per tonne on Wednesday, unchanged week on week. "Prices will not immediately go up, but we expect in April bookings that p...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday February 24, with tin on the LME and the SHFE April copper contract in positive territory, while the rest were weaker.* US Federal Reserve Chairman Jerome Powell told Congress that rates would stay low and the central bank would maintain strong support for the economy* Asian-Pacific equ...Read More
Amgen (AMGM), a NASDAQ 100 stock moved below $229.68 setting an intermediate downtrend.Raytheon Technologies (RTX), an S&P 100 stock moved above $75.32 extending an intermediate uptrend.Verisk Analytics (VRSN), a NASDAQ 100 stock moved below $182.52 and $174.57 setting an intermediate downtrend.Pre-opening Comments for Wednesday February 24thU.S. equity index futures were higher this morning....Read More
Turkish deep-sea scrap import prices continued to rise after fresh transactions came to light on Wednesday February 24, sources told Fastmarkets.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $445 per tonne and 5,000 tonnes of bonus at $455 per tonne cfr late on Tuesday February 23.Another steel mill in the same...Read More
Fresh deals to South Korea and Taiwan have raised Japanese export scrap prices over recent days, market participants told Fastmarkets on Wednesday February 24.Bullish sentiment in the market was underpinned by major Japan steel scrap buyer Tokyo Steel raising its buy prices by ?500 per tonne across all factories on Wednesday. The price hike, the second this week of its kind, means the steelmaker...Read More
Higher Japanese offers are heating up prices in the China import scrap market, sources told Fastmarkets on Wednesday February 24.Chinese buyers have focused more on procuring steel billet imports since the market returned from its Lunar New Year holidays earlier this month, with few recent scrap sales heard.Fastmarkets' price assessment of steel scrap, heavy recycled steel materials was at $470-47...Read More
Seaborne low-volatility pulverized coal injection (PCI) prices in both the fob and cfr markets increased on Wednesday February 24 following the latest trade and growing buying interest in the cfr market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $138.93 per tonne, up $0.15 per tonnePremium hard coking coal, cfr Jingtang: $219.04 per tonne, down $1.24 per tonneHard coking...Read More
China's "unpredictable political moves" in relation to coking coal from Australia has driven some Chinese steel mills to increase their contractual supplies of the steelmaking raw material from elsewhere, sources told Fastmarkets this week.Several mills increased contractual volumes for north American metallurgical coal at the end of 2020, an end user from south China said."We have also added abou...Read More
Iron ore prices were largely rangebound on Wednesday February 24 due to limited demand from steel mills, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $172.71 per tonne, down $0.34 per tonne 62% Fe low-alumina fines, cfr Qingdao: $173.11 per tonne, down $0.41 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $160.36 per tonne, down $1.00 per tonne 65% Fe B...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday February 24, with tin on the LME and the SHFE April copper contract in positive territory, while the rest were weaker.US Federal Reserve Chairman Jerome Powell told Congress that rates would stay low and the central bank would maintain strong support for the economyAsian-Pacific equitie...Read More