A summary of miner-producer China Molybdenum Co's financial results for the first quarter of 2021, as released on Tuesday April 27.In brief Revenue for the company's mining and processing business totaled 39.92 billion yuan ($6.2 billion) in the first quarter of 2021, up by 78% year on year, while net profit was 1.01 billion yuan,...Read More

A summary of Tianqi Lithium Corp's results for 2020 and the first quarter of 2021 from its earnings reports published on Wednesday April 28.In brief Revenue for 2020 totaled 3.24 billion yuan ($500 million), down by 33.1% year on year. The decline was attributed to sluggish lithium chemical prices in the first three...Read More

Share this article TORONTO - Uranium Participation Corp. [U-TSX] said Wednesday April 28 that it has signed an agreement with Sprott Asset Management LP, a unit of Sprott Inc. [SII-TSX]. Under the deal, UPC shareholders will become unitholders of the Sprott Physical Uranium Trust, a newly formed entity to be managed by Sprott Asset Management.UPC shares advanced on the news, rising 3.8% or 19 c...Read More

Domestic prices for flat-rolled steel in the United States are expected to remain high throughout the second quarter, but decrease slightly in the third and fourth quarters, although not significantly, Ternium chief executive officer M??ximo Vedoya said on Wednesday April 28.The executive said demand in the US was strong, and he doesn't expect any material improvement on the supply side this year....Read More

Domestic prices for European heavy steel plate increased further in the week to Wednesday April 28, supported by stronger demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?875-900 ($1,057-1,087) per tonne on April 28, up by ?,?35-50 per tonne from ?,?840-850 per tonne a week earlier.The assessment was based on transa...Read More

Domestic prices for hot-rolled coil in Europe increased again on Wednesday April 28, due to the continuing shortage of materials and strong demand, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?987.50 ($1,192.64) per tonne on Wednesday, up by ?,?14.17 per tonne from ?,?973.33 per tonne on Tuesday.The index was also up by...Read More

Domestic steel rebar prices in the north of Europe were broadly stable in the week to Wednesday April 28, supported by strong end-user demand, Fastmarkets heard.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?650-670 ($785-809) per tonne on April 28, unchanged week on week.The assessment reflected deals, offers and achievable pric...Read More

The market for steel wire rod in the north of Europe was largely unchanged over the past week on the disparity between producers' offers and bids from buyers, while market sources expected price increases to be achieved in May because of the limited availability of material, Fastmarkets heard on Wednesday April 28.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, de...Read More

Prices for steel hollow sections in Europe narrowed upward on Wednesday April 28 with production costs continuing to soar, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,070-1,120 ($1,292-1,353) per tonne on April 28, narrowing upward from ?,?1,050-1,120 per tonne on April 21."There is no sense in anything. The...Read More

Turkish steel producers continued their deep-sea scrap purchases for June shipments on Wednesday April 28, with prices edging ever higher, market participants told Fastmarkets.A steel mill in northern Turkey booked 22,000 tonnes of HMS 1&2 (80:20) from the Baltic Sea at $432 per tonne cfr.A steel producer in the Iskenderun region booked a second Baltic sea cargo of 17,000 tonne of HMS 1&2 (80:20)...Read More

China is planning sweeping changes to its tax regimes for ferrous raw materials from May 1, its Ministry of Finance said on April 27.The changes are designed to guarantee the supply of steel making raw materials and continue to drive the steel industry toward high-quality growth, the ministry said.There will be no import tariffs for pig iron, crude steel, recycled steel raw materials, ferro-c...Read More

There may be significant swings in the prices and trade flows in the steelmaking raw materials market if the Covid-19 situation in India continues to worsen, sources told Fastmarkets.India has had a record-breaking number of Covid-19 cases in recent weeks - breaching the 300,000 mark several times over the week to April 27 - while vaccinations fail to stem the tide of infections.Higher pellet pric...Read More

Here are five Fastmarkets stories you might have missed on Wednesday April 28 that are worth another look.Latin American steelmaker Ternium plans to focus mainly on supplying its own slab needs in Mexico and selling any excess to the domestic market via its slab mill in Brazil, chief executive officer M??ximo Vedoya said on...Read More

Strong interest in imports of steel billet among Chinese customers supported a further uptick in the CIS export billet price in the week to Wednesday April 28.A cargo of around 40,000 tonnes of Ukraine-origin billet was reported sold to China at $655-660 per tonne cfr early this week, Fastmarkets heard. Market participants said that the price would be equivalent to $605 per tonne fob Black Sea.Bul...Read More

Steel billet producers in Iran achieved higher prices in deals with traders in the week to Wednesday April 28, supported by rising prices in Asia.Two cargoes of 30,000 tonnes each were reported sold by two mills at $599 per tonne fob Southern ports of Iran.This price was up by $8 per tonne from $591 per tonne achieved by Iranian sellers a week earlier.One of the county's major billet exporters had...Read More

Last March, the Fed came in and started buying junk for cash by doing that, it has doubled the amount of artificial money flowing to big banks since 2008. As a result, today's guest says, the Fed, by criminal standards, is laundering money through the banks. Nomi Prins is the author of "Collusion: How Central Bankers Rigged the World" and a geopolitical financial expert who says, "You can think of...Read More

Jeffrey Gundlach, CEO of DoubleLine, says U.S. stocks are very overvalued on almost all metrics and the dollar is almost certain to decline. He also believes President Joe Biden's proposed capital gains tax hike is a negative.Jeffrey Gundlach is the Chief Executive Officer and Chief Investment Officer of DoubleLine Capital. He is recognized as an expert in bond and fixed income investments. His in...Read More

Chris Vermeulen has been involved in the markets since 1997 and is the founder of Technical Traders Ltd. He is an internationally recognized technical analyst, trader, and is the author of the book: 7 Steps to Win With Logic.Read More

Gerald Celente is a pioneer trend strategist and founder of The Trends Research Institute. He is the author of the national bestseller Trends 2000: How to Prepare for and Profit from the Changes of the 21st Century and publisher of the internationally circulated Trends Journal newsletter. Gerald Celente is a political atheist. Unencumbered by political dogma, rigid ideology or conventional wisdom,...Read More

The markets for high- and low-carbon ferro-chrome in Europe softened in the week ended Tuesday April 27 following weakening in the markets in Asia, particularly China.Fastmarkets' price assessment for ferro-chrome, 0.10% C, average 65-70% Cr, delivered Europe, was $1.87-2.36 per lb Cr on April 27, a fall of 4-26 cents per lb Cr (6.6%) from $2.13-2.40 per lb Cr on March 30.There was a big fall at t...Read More