An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and Sybil...Read More

Spot trading of copper concentrate slowed in the week ending Friday May 7 with Chinese and Japanese market participants away for holidays. Fastmarkets' copper concentrate treatment and refining charge (TC/RC) index rebounded, with deals to smelters reported at low-to-mid $30s. Spot buying interest was not particularly high because several major Chinese smelters are carrying out maintenance in May...Read More

Towards Sustainable Mining Tailings Guidance Aligns with Global StandardSPONSOREDthe mining association of canadaPAM puts itself in the middle of Thailand 4.0SPONSOREDAuroch powers up nickel explorationSPONSOREDauroch mineralsSaturn still shooting for the stars at Apollo HillSPONSOREDsaturn metalsTotal portfolio contributions amounted to £6.8 million, with a 10.5% drop in income from the Kes...Read More

Brazilian slab export prices rose during the week ended Friday May 7 as sellers seized the opportunity to raise prices given low supply and strong demand.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil was $900-940 per tonne on Friday, up by $20 per tonne on the high end from $900-920 per tonne the previous week. Early in the week, offers were reported between the...Read More

Base metals prices on the London Metal Exchange were a bit more mixed this morning, Thursday May 6, while the return of trading on the Shanghai Futures Exchange after the Labor Day holidays saw good gains in all metals apart from zinc.* Markets generally buoyant - perhaps not so surprising when the two largest economies, China and the United States could grow 6% or more this year...* ...but you ha...Read More

South American flat steel import prices rose during the week to Friday May 7 as Chinese mills were only beginning to return from the country's 5-day Labor holiday, and material from elsewhere was sold at higher levels.Only a few firm offers were provided to clients in South America, according to market participants. Most were price indications for residual June shipments and initial assessments fo...Read More

Coated coil prices in Turkey increased during the week to Friday May 7 on strong demand, sources told Fastmarkets.Most coated coil producers were fully booked until late August, with some accepting orders for September production.Demand was strong in domestic and export markets because of limited stock levels.Domestic pricesFastmarkets' weekly price assessment for steel hot-dipped galvanized coil...Read More

Base metals are experiencing strong gains again on the morning of Wednesday May 5 with relatively high volumes being traded on the London Metal Exchange despite the absence of Chinese market participants observing a Labor Day break.* Asian markets quiet with China, Japan and South Korea on holiday* US Dollar Index recently at 91.24, compared with 91.16 at a similar time on Tuesday - consolidating...Read More

Indian mills have increased domestic prices for steel hot-rolled coil by 4,500-7,000 rupees ($61-95) per tonne for sales this month, Fastmarkets heard on Friday May 7.Mills have also curtailed the supply of HRC to the domestic sector in order to ensure that the price increase will be absorbed by the market."Mills are supplying very little [HRC] material to the...Read More

The Gulf Cooperation Council (GCC) plans to set definitive safeguard duties for a number of steel products for a period of three years, it is said in a document issued by the Bureau of Technical Secretariat for Anti Injurious Practices in International Trade (GCC-TSAIP) seen by Fastmarkets on Friday May 7. In February this year, GCC-TSAIP said that it found recent and sudden increases in imports o...Read More

Flat steel prices increased further in Turkey during the week to Friday May 7, with mills almost fully booked until the end of September, sources told Fastmarkets.Some mills have received requests for October production, but are unable to announce prices because they are yet to book their raw materials for October, Fastmarkets heard.The latest scrap bookings by Turkey were made for June shipping a...Read More

Domestic prices for hot-rolled coil increased across Europe on Friday May 7, and ArcelorMittal raised its offers even further, sources told Fastmarkets.Fastmarkets calculated its steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,042.00 ($1,254.34) per tonne on May 7, up by ?,?21.17 per tonne from ?,?1,020.83 per tonne on May 6.The index was up by ?,?34.86 per tonne week on we...Read More

Prices in the CIS export billet market continued to rise in the second half of the week as customers from Turkey and China accepted higher levels in fresh deals.There was a revival in interest in imported billet in Turkey after the recent uptick in imported scrap costs.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was calculated at $488.83 per tonn...Read More

Here are five Fastmarkets stories you might have missed on Thursday May 6 that are worth another look.Recent changes in Chinese tax policy have resulted in significant rises in the prices for steel billet and finished long steel products from the CIS and...Read More

Pharmaceutical ETF PPH moved above $70.79 to an all-time high extending an intermediate uptrend. Gold stocks are responding to higher gold prices. Barrick Gold, a TSX 60 stock, moved above Cdn$28.88 extending an intermediate uptrend.Another Canadian Gold stock breakout! Yamana Gold moved above Cdn$6.20 extending an intermediate uptrend. Junior Gold ETF (GDXJ) moved above $51.19 extending an interm...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.PayPal added $9.75 to $257.15 after reporting higher than consensus first quarter earnings.Magna International (MG Cdn$115.04 ) is expected to open higher after reporting higher than consensus first quarter revenues and earnings.Manulife (MFC Cdn$27.19 ) is expected to open higher after re...Read More

Global Base Metals iShares moved above $18.89 to an all-time high extending an intermediate uptrend.Rio Tinto (RIO), one of the world's largest base metal producers moved above $88.74 to an all-time high extending an intermediate uptrend. Globex Uranium ETF (URA) moved above $20.95 extending an intermediate uptrend. Verizon (VZ), a Dow Jones Industrial Average stock moved above $58.84 extending an...Read More

Like a squall out of a clear sky... Janet Yellen sent investors under the awnings Tuesday:“It may be that interest rates will have to rise somewhat to make sure that our economy doesn’t overheat.”In reminder: Falling rates generally equal rising stocks. Rising rates generally equal falling stocks.Ms. Yellen's rains gave the Nasdaq a quick 300-point drenching.That is because many...Read More

After Bitcoin crashed from $20,000 to $3,400 in 2018, many observers decided the craze was over, and Bitcoin would slowly decline in price and fade into obscurity. But reports of the death of Bitcoin were premature.In 2021, a new mania took hold, and the price surged to $60,000 before backing off a bit. Today it's trading at about $56,871 (Bitcoin is so volatile, it could change by the time you re...Read More

Another reader has washed us out of his hair - K. Miller, a doctor of medicine.This learned physician has endured our "right wing rantings and ravings" long enough.He will endure them no longer.That is because we have trespassed all boundaries of respectable opinion.And our atrocities weigh far greater than the slim benefits we have provided him:Please cancel my subscription. I have listened to yo...Read More