United States-based lithium producer Albemarle has settled a dispute about its lithium reserves with the Chilean Nuclear Agency (CCHEN), the company said on Monday April 26.CCHEN licenses lithium exports by companies operating in Chile and had previously called on Albemarle to provide further details about its lithium reserves, because it considered the information submitted in 2019 to be insuffic...Read More
Key data from Fastmarkets' pricing session in China on Friday April 23.Key drivers China's cobalt metal price slumps amid weakness in local futures; buyers sent more inquiries, but were still cautious in buying on expectations that prices could fall further. Chinese cobalt tetroxide price narrowed downward on subdued demand; buyers were unwilling to accept higher...Read More
Here are five Fastmarkets stories you might have missed on Monday April 26 that are worth another look.Liberty Steel Dudelange-Liege has been cancelling orders and shipments to customers that had agreed deals for cold-rolled coil and hot-dipped galvanized coil, sources have told Fastmarkets.Metal...Read More
Share this article TORONTO - Fortuna Silver Mines Inc. [FVI-TSX, Lima; FSM-NYSE; F4S-FSE] said Monday April 26 that it has signed a definitive deal to acquire West Africa-focused Roxgold Inc. [ROXG-TSX; ROGFF-OTCQX] for $1.1 billion.Under the terms of the transaction, Roxgold shareholders will receive 0.283 common shares of Fortuna and $0.001 for each Roxgold common share held. When the transac...Read More
The main union for metal workers in the Czech Republic has instigated industrial action at Liberty Steel's Ostrava steelworks, sources told Fastmarkets on Monday April 26.On Monday, the OS KOVO trade union called on workers at Liberty Ostrava to "work-to-rule", which means no additional shifts or overtime.The union also said employees should ignore work e-mails and phone calls outside working hour...Read More
The gap between the prices of rebar and hot-rolled coil exported from the Commonwealth of Independent States reached the highest since 2008 in the second half of April due to a combination of a flat steel products shortage in the global market and strong demand.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $639 per tonne fob at the midp...Read More
Lucara Diamond Corp. (TSX: LUC, BSE: LUC, Nasdaq Stockholm: LUC) is a leading independent producer of large exceptional quality Type IIa diamonds, from its 100% owned Karowe Mine, in Botswana and owns a 100% interest in Clara Diamond Solutions, a secure, digital sales platform, positioned to modernize the existing diamond supply chain and ensure diamond provenance from mine to finger. We learned f...Read More
The main union for metal workers in the Czech Republic has instigated industrial action at Liberty Steel's Ostrava steelworks, sources told Fastmarkets on Monday April 26.On Monday, the OS KOVO trade union called on workers at Liberty Ostrava to "work-to-rule", which means no additional shifts or overtime.The union also said employees should ignore work e-mails and phone calls outside working hour...Read More
The gap between the prices of rebar and hot-rolled coil exported from the Commonwealth of Independent States reached the highest since 2008 in the second half of April due to a combination of a flat steel products shortage in the global market and strong demand.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $639 per tonne fob at the midp...Read More
The Commonwealth of Independent States (CIS) export rebar and wire rod prices increased over the week to Monday April 26 after customers accepted higher levels in recent sales, sources said.A strong domestic market in Russia rendered support to local producers, which, therefore, increased their asking prices for long steel products abroad, Fastmarkets heard.In the middle of last week, one Russia-b...Read More
Turkish domestic scrap prices have remained fairly stable over the past seven days, with most mills keeping their buy prices unchanged week on week, market participants said on Monday April 26.Long steel producers in the Izmir region continued to buy domestic auto bundle and ship scrap at stable prices over the past seven days.Only two mills in the Marmara region cut...Read More
A cargo of 62% Fe Brazilian Blend iron ore fines was traded on Monday April 26 at a price of $194.40 per tonne cfr China on a trading platform, a record high since Fastmarkets' index for 62% Fe low-alumina fines, cfr Qingdao, was introduced in August 2018.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $193.58 per tonne, up by $7.33 per tonne62% Fe low-alumina fines, cfr Qingdao: $194.40 pe...Read More
As the current surge in coronavirus cases in India takes hold, Fastmarkets looks at the possibility that the steel industry could lose its impressive growth.New cases of coronavirus in India have surpassed 350,000 per day and steel plants in the country have been supplying liquid medical oxygen (LMO) to hospitals because of the ongoing shortage of available oxygen. Diverting supplies of oxygen awa...Read More
Michael Pento Stopped by to give us a roadmap of the future and active strategies to navigate through it. We covered the below topics:00:00?EUR< - Bond Bubble, Equity Bubble, and Real Estate Bubble4:40?EUR< - What's next for Interest Rates and Growth?8:02?EUR< - What's Different Now?10:37?EUR< - Risk Assets are Vulnerable (Equities Overvalued)17:08?EUR< - Is the Fed Out of Bullets23:11?EUR< - Gold...Read More
Bitcoin-volatility up down and up again. Turkish crypto exchanges turn out to be scams and blow up. Coinbase hacked! Where are the good guys? Exchanges melting down is like nuclear power plants melting down. Challenges ahead. Earnings week, TSLA to the moon. Story stock. Fed Week FOMC meets tomorrow. Everything is happening this week. Big tech is announcing this week. Great earnings reports ahead....Read More
0:00?EUR< Introduction0:39?EUR< Volatility still best trade for 2021?6:35?EUR< Gold vs. Bitcoin8:49?EUR< Gold trade10:27?EUR< Feedback from Nick's subs12:27?EUR< Best sector to short?Professional Trader Nick Santiago has said that volatility would be the trade of the year for 2021. Thus far that trade has not worked out well. In this interview, Nick answers whether he still thinks volatility is th...Read More
The devastation unleashed throughout central Europe by the Thirty Years War (1618-1648) was ended by an agreement, called the Peace of Westphalia. This treaty included a declaration of non-interference in the domestic affairs of sovereign states. In 1999 and for the next five years, British PM Tony Blair ran an aggressive campaign to move into a "post-Westphalian world", based on a doctrine of the...Read More
Mohamed El-Erian, economic advisor at Allianz and Gramercy and president at Queens College, Cambridge, joined "Squawk Box" on Monday to discuss what he's seeing in the markets ahead of the busiest week of first-quarter earnings season.Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO,...Read More
I have been in political meetings over the weekend. I cannot Continue...Read More
The copper price climbed to the highest since 2011 as the global recovery from the pandemic extended a rally in metals markets- and as Continue...Read More