Seaborne iron ore prices rose further on Friday May 7 with continuing support from bullish steel prices, refreshing the iron ore indices' record highs again.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $212.25 per tonne, up by $10.37 per tonne62% Fe low-alumina fines, cfr Qingdao: $214.20 per tonne, up by $11.33 per tonne58% Fe fines high-grade premium, cfr Qingdao: $185.29 per tonne, up...Read More
There are some indicators worth examining...by Peter Krauth via Streetwise ReportsI know this might sound ridiculous to some, but I think silver could reach $300.No, I haven't lost my mind. After all, it's a metal that's known for massive rallies.You see, when silver went through its 1970s bull market, it started from a low of $1.31 in October 1971. By the time it reached its peak in 1980, silver...Read More
It's not out of the question whether the price of silver goes much higher or not. Here's why...by Larry White of the Gold & Silver Education CenterThere is an interesting situation unfolding related to the bullion silver eagles produced by the US Mint. Is it possible a combination of factors is lining up that could actually lead to 2021 silver eagles selling as high as $50 by this summer? It's not...Read More
Silver will break $30 in 3 weeks and go on to $40 by third quarter 2021...Kevin Wadsworth with Patrick V. on Silver Bullion TVKevin Wadsworth: Silver to Break $30 in Three Weeks, New Highs by September 2021We are joined on Metal Money by Kevin Wadsworth of North Star Charts whose charts are forecasting that silver will break $30 in 3 weeks and go on to $40 by third quarter 2021.FULL SHOW NOTES AND...Read More
Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were for the most part stronger this morning, Friday May 7, as were broader markets.Friday's United States employment report is in focus because it could prompt Federal Reserve to change tackDow Jones Industrial Average sets new highs after US initial jobless claims fell below 500,000 on Thursday for the first time s...Read More
Physical gold demand has ramped up a lot again since January 2021 as private sector demand from China, India and Asia continues to...by Jason Burack of Wall St For Main StPhysical gold demand has ramped up a lot again since January 2021 as private sector demand from China, India and Asia continues to be strong and increase.However, according to the World Gold Council in recent updates, net buying...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The upward momentum in United States' flat product prices is yet to show any signs of slowing, with US HRC prices hitting new record highs during April. Steel supply is forecast to remain short of demand due to no improvement in underlying supply and demand fundamentals, which is propelling US flat product prices higher...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Market conditions are clearly extraordinary when we find ourselves adjusting the axis on our pricing charts to display the new record-high prices each month.After reporting record price highs in Europe and the United States with regards to coated steel products, we find ourselves repeating the same line this month. In Europe,...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? There is no end in sight to the shortfall in flat steel supply that has characterized US markets in early 2021, and we expect record-high US pricing for hot-rolled coil to persist through the second quarter of 2021 and into the second half of the year. We are fo...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.In both Europe and the United States, the prices of most flat steel products have pushed to record highs in the weeks to Monday March 22. They remain slightly below their mid-2008 peaks in China, but are at multi-year highs there too.This illustrates in part the heavier consequences of the Covid-19 pandemic for steelmakers in...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR? Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation...Read More
Inner Mongolia, China's ferro-chrome production heartland, has imposed restrictions on its metallurgical sector in a move that has fueled the high-carbon ferro-chrome markets in China and Europe, and although this may ease off, the gains were unlikely to be lost while alloy ramp-ups continue, sources have told Fastmarkets.The decision to restrict energy consumption in Inner Mongolia since December...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR?In a strong start to the year, January saw ore and alloy pricing gains across all markets priced by Fastmarkets - with the exception of Chinese silicon metal export prices, which retreated slightly last month after posting impressive gains in December 2020.The combination...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices and margins for stainless steel producers have risen notably over the past few months in both Europe and the United States, but there are now signs that the rally is petering out.A clear reason for the halt to rising prices comes from the near 20% drop in nickel prices seen in late February/early March,...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.With nickel prices down by almost 20% over the space of around ten days during late February and early March, one might have been expecting us to be reporting sharply-lower prices of stainless steel, at least for the most common nickel-containing grades of stainless steel.This is not the case, at least in Europe and the Unite...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.We spoke in our previous tracker of stainless steel prices ending 2020 on a high. That trend has continued during early 2021 and, in fact, the upward rally in prices has increased its momentum.Compared with the monthly price increase of some 5% seen at the end of 2020, prices for grade-304 stainless steel in al...Read More
Diamond market activity slower due to spike in Covid-19 cases in India. Many small-scale Surat factories shut because of health concerns and lack of workers. Drop in polished production supporting prices. 1 ct. RAPI +2.5% in April. Cutters focused on larger, better-quality goods. Dealers struggling to replace inventory. Solid rough buying at De Beers sight as sightholders expect shortages; fewer g...Read More
RAPAPORT... Health concerns aside, the diamond trade is in better shape than it was a year ago. In fact, the market dynamic is arguably healthier than it has been at any point in the past decade. That's increasingly evident as polished prices continue to firm.The positive trend may come as a surprise considering the challenges Covid-19 has presented over the past year. But it is perhaps even more...Read More
RAPAPORT... Prices of fancy-color diamonds increased in the first quarter as the American market showed renewed demand for high-end products, according to the Fancy Color Research Foundation (FCRF).The group's Fancy Color Diamond Index gained 0.3% compared with the previous three months, the organization reported Thursday. Prices of blue fancy-color diamonds jumped 0.5%, while pinks increased...Read More
RAPAPORT... The third installment of Swiss gem and jewelry show GemGen??ve is set to take place in November after a forced cancellation last year due to the coronavirus pandemic.The show, which will run from November 4 to 7 at Geneva's Palexpo, will include lectures, round tables, seminars and exhibitions, GemGen??ve said Thursday. It is open to jewelry designers, exhibitors, dealers, retailers an...Read More