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
A deepening of the acute shortage of titanium scrap, added to the news this week of a slump in aerospace orders, should support and strengthen prices for both scrap and ferro-titanium in the coming months despite the potential consequences for alloy consumption, industry sources told Fastmarkets on Wednesday February 24.Prices in Europe's titanium scrap markets have been rallying for almost seven...Read More
Copper scrap yards across China are keen to offload their stock following a recent rally in the red metal price, dampening Chinese buyers' interest in overseas materials."Suddenly we are seeing more copper scrap, even old wires and rod, being offered at discount as big as 900 yuan ($139). The discount was very slim prior to Lunar New Year holiday (February 11-17)," a trader said. "These days I do...Read More
Here are five Fastmarkets stories you might have missed on Thursday February 25 that are worth another look....Read More
A deepening of the acute shortage of titanium scrap, added to the news this week of a slump in aerospace orders, should support and strengthen prices for both scrap and ferro-titanium in the coming months despite the potential consequences for alloy consumption, industry sources told Fastmarkets on Wednesday February 24.Prices in Europe's titanium scrap markets have been rallying for almost seven...Read More
Here are five Fastmarkets stories you might have missed on Thursday February 25 that are worth another look....Read More
Turkish steelmakers have continued their deep-sea scrap purchasing despite rising prices, supported by strong rebar and billet sales, market sources said on Thursday February 25.A steel mill in the Iskenderun region booked a US cargo, comprising 11,000 tonnes of HMS 1&2 (80:20) at $454 per tonne along with 16,000 tonnes of shredded and 3,000 tonnes of bonus at $464 per tonne cfr.The same mill also...Read More
A deepening of the acute shortage of titanium scrap, added to the news this week of a slump in aerospace orders, should support and strengthen prices for both scrap and ferro-titanium in the coming months despite the potential consequences for alloy consumption, industry sources told Fastmarkets on Wednesday February 24.Prices in Europe's titanium scrap markets have been rallying for almost seven...Read More
Apart from nickel on the London Metal Exchange, the rest of the base metals on both the LME and Shanghai Futures Exchange were once again stronger this morning, Thursday February 25.US Federal Reserve Chairman Jerome Powell told Congress that it might take three years to reach the central bank's inflation targetsAsian-Pacific equities were up strongly on Powell's commentsBase metals The LME three-...Read More
The spot cobalt hydroxide payable edged higher in the first half of the week with consumers holding robust demand amid persistent spot tight availability of the feedstock, sources said on February 25.Fastmarkets' assessment for cobalt hydroxide payable indicator, min 30% Co, cif China rose to 92.5-94% of standard-grade cobalt (low end) on Wednesday February 24, up by 0.81% from 92-93% on February...Read More
Share this articleTORONTO - Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE: 3S3) announced the increase in its land position at its Lingman Lake Project within the prolific Red Lake geologic district in Northwestern Ontario.The previously held claims, excluding the 18 held patented claims, of 604 has been increased to 1,066 claims. When added to the 4 full patent claims and 14 mineral righ...Read More
The rise in bulk freight rates, especially from Asia, has dramatically boosted seaborne steel prices and disrupted South American foreign trade, market participants told Fastmarkets in the week to Thursday February 25.Trader sources have reported a material decrease in vessel availability, especially in China, that led to some steel mills cancelling their offers to the continent. Shipping companie...Read More
Hot-rolled coil prices in the United States continue to hit record highs, with further upside expected, Fastmarkets understands. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $61.85 per hundredweight ($1,237 per short ton) on Thursday February 25, up by 0.67% from $61.44 per cwt on Wednesday February 24 and 2.62% higher than $60.27 per cwt one week earlier.Inpu...Read More
Texas Gov. Greg Abbott said in a statement:The state of Texas will continue to investigate [the Electric Reliability Council of Texas] and uncover the full picture of what went wrong.Well, I can save the state a lot of time and money on that investigation.It doesn't take a rocket scientist to know that the state's grid failed because it wasn't properly prepared for the kind of winter storm it got....Read More
Domestic prices for steel hot-rolled coil in Northern Europe increased day on day on Thursday February 25 due to tight supply, sources have told Fastmarkets.Market participants expected that European steelmakers would increase their offers next week in an attempt to trigger further price rises.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?735.00...Read More
Prices for steel reinforcing bar in the United States continue to hold steady, but a raw materials-driven upside to the market may materialize in the near future, market participants said.Fastmarkets' weekly assessment for steel reinforcing bar (rebar), fob mill US remained at $39.75 per hundredweight ($795 per short ton) on February 24. US market While overall market sentiment has remained stable...Read More
Dubai's Conares Steel has cut its rebar price to 2,530 dirhams ($689) per tonne ex-works, down from the previous 2,590 dirhams per tonne ex-works, chief executive Bharat Bhatia told Fastmarkets on Thursday, February 25.The UAE steelmaker's announcement follow's Wednesday's price cut by the region's biggest steel producer Emirates Steel, which dropped its rebar price by 91 dirhams to 2,535 dirhams....Read More
Steel billet offer prices to Egypt increased sharply this week, despite a complete lack of buying activity, sources told Fastmarkets on Thursday, February 25.Sources said the main reason for the higher offer prices was growing demand for billet from the Commonwealth of Independent States.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $566 per tonne on February 24, rising fr...Read More
Turkish steelmakers have continued their deep-sea scrap purchasing despite rising prices, supported by strong rebar and billet sales, market sources said on Thursday February 25.A steel mill in the Iskenderun region booked a US cargo, comprising 11,000 tonnes of HMS 1&2 (80:20) at $454 per tonne along with 16,000 tonnes of shredded and 3,000 tonnes of bonus at $464 per tonne cfr.The same mill also...Read More
Brazilian steel scrap consumption is expected to grow in 2021 after scrap generation increased and began to meet a jump in demand from mills in the second half of 2020, the country's ferrous scrap association, Inesfa, said.Inesfa calculated scrap consumption at 8 million tonnes in 2020, up from 7.79 million tonnes in 2019, with the current environment signalling a rise this year, it said.That said...Read More
Iron ore prices mostly increased on Thursday February 25, supported by healthy mill margins and expectations of a steady rise in demand for steel, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $174.24 per tonne, up $1.53 per tonne62% Fe low-alumina fines, cfr Qingdao: $174.70 per tonne, up $1.59 per tonne58% Fe fines high-grade premium, cfr Qingdao: $160.06 per t...Read More