The jump in Kanto Tetsugen auction prices has led to another increase in the Japanese export price for steel scrap over the past week, market sources told Fastmarkets on Wednesday May 12.Tuesday's auction by Kanto Tetsugen, which is a cooperative of scrap dealers in the Tokyo region, closed its monthly H2 grade scrap export price at an increase of ?5,899 ($54) per tonne month on month, with the h...Read More

Exports of ferrous materials from India could become more logistically challenging in the coming weeks while the country battles the Covid-19 pandemic, market participants have told Fastmarkets.The worst may still be to come for steel exports out of Covid-hit eastern India, sources said, because of a lack of available stevedores, forces majeures at ports and reduced steel output at certain plants....Read More

Base metals prices on the London Metal Exchange were little changed and consolidating this morning, Wednesday May 12, this after some choppy trading in recent days.Traders wary of contagion from weaker equity markets Asia-Pacific equities mainly weaker, especially in Taiwan Markets focused on Wednesday's Consumer Price Index (CPI) data from United States Base metalsLME three-month base metals pric...Read More

The government of the Democratic Republic of Congo (DRC) has approved a draft inter-ministerial decree relating to the development of the Manono lithium and tin project by Australian miner AVZ, the company announced on Monday May 10.The draft decree relates to an earlier draft cooperation agreement between the government and AVZ. This would involve setting up a special economic zone for the Manono...Read More

Share this article TORONTO - Vanadium One Iron Corp. [VONE-TSXV; VDMRF-OTC; 9VR1-FSE] said Wednesday May 12 that it has entered into a long-term arrangement with a unit of Glencore Plc [GLEN-LSE] to support development of its 100%-owned Mont Sorcier vanadium-iron-titanium project near Chibougamau, Quebec.Vanadium One shares advanced on the news, rising 5.1% or $0.015 to 31 cents on volume of 263,...Read More

Share this article Russia plans to become one of the world's largest producers of gold and platinoids within the next decade by starting development of the Sukhoi Log and Fedorova Tundra Projects - two of the country's largest resource-rich regions in terms of gold and platinum group metals reserves respectively, according to recent statements by senior state officials and analysts.Regarding gold...Read More

America is spoiled by cheap energy.No matter how you feel about controversial topics like hydraulic fracturing, horizontal drilling, or the extensive 2.6 million miles of oil and natural gas pipeline network that crisscrosses the breadth of our country like an intricate spiderweb, you can't deny that we've all enjoyed the riches of the tight oil boom over the last 10 years. Before 2008, U.S. fiel...Read More

Domestic prices for European heavy steel plate increased further in the week to Wednesday May 12, supported by good demand and material availability becoming limited, sources have told Fastmarkets.Fastmarkets' price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was ?,?980-1,020 ($1,191-1,239) per tonne on May 12, up by ?,?30-40 per tonne week on week from ?,?950-980 per tonne.T...Read More

Domestic prices for hot-rolled coil continued to rise across Europe on Wednesday May 12, with producers having few volumes to offer in the spot market and there being a lack of import alternatives, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,058.13 ($1,285.71) per tonne on May 12, up by ?,?15.63 per tonne from ?,?1,0...Read More

ArcelorMittal has increased its official offer prices for all coil products across Europe by ?,?50 ($61) per tonne, sources told Fastmarkets on Wednesday May 12. This will be the sixth consecutive week that ArcelorMittal Europe has increased its coil offer prices. Its new offers for HRC have now reached ?,?1,100 per tonne ex-works, while prices for downstream flat steel products - cold-rolled and...Read More

Prices for steel hollow sections in Europe continued to rise on Wednesday May 12, with the rise in feedstock material costs showing no sign of slowing, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,190-1,220 per tonne ($1,446-1,482) per tonne on May 12, up from ?,?1,120-1,190 per tonne on May 5."I had thought...Read More

Prices for steel wire rod in the north of Europe have jumped upward over the past week, backed by limited domestic supply, costlier scrap and increased offers from overseas suppliers, Fastmarkets heard on Wednesday May 12.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?720-750 ($875-911) per tonne on Wednesday, up from ?,?670-690...Read More

Steel rebar prices in the north of Europe increased sharply over the week to Wednesday amid rising raw material costs and limited supply of material, Fastmarkets heard on May 12.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?720-740 ($875-899) per tonne on May 12, up by ?,?60-70 per tonne week on week from ?,?650-680 per tonn...Read More

Here are five Fastmarkets stories you might have missed on Wednesday May 12 that are worth another look.The so-called "Suez Armada" of vessels that were delayed by the unintentional blockage of the Suez Canal has now been processed by the Port of Rotterdam, but the port was still "extremely" busy and there were challenges ahead for the...Read More

The prices paid for deep-sea scrap cargoes by Turkish steel mills continued to rise in the wake of recent changes in Chinese tax policy that have seen billet and long steel demand increase, Fastmarkets heard on Wednesday May 12.A mill in the Izmir region booked a cargo from the UK comprising 6,000 tonnes of HMS 1&2 (80:20) at $499 per tonne and 18,000 tonnes of shredded scrap at $519 per tonne.A m...Read More

The jump in Kanto Tetsugen auction prices has led to another increase in the Japanese export price for steel scrap over the past week, market sources told Fastmarkets on Wednesday May 12.Tuesday's auction by Kanto Tetsugen, which is a cooperative of scrap dealers in the Tokyo region, closed its monthly H2 grade scrap export price at an increase of ?5,899 ($54) per tonne month on month, with the h...Read More

Iranian export prices for steel billet and slab went through several rounds of increases over the week to Wednesday May 12, supported by demand from China.China's domestic rebar prices surged on May 10 and set a new high after the October futures contract on the Shanghai Futures Exchange hit the daily limit within 10 minutes of the start of trading.Fastmarkets' assessment of the price for steel re...Read More

The export steel billet price from the Commonwealth of Independent States (CIS) region jumped again on Wednesday May 12, this time by $45 per tonne following Tuesday's $37-per-tonne increase, after customers in Latin America and China accepted higher levels in fresh deals. Fastmarkets' daily steel billet index, export, fob Black Sea, CIS rose to $725 per tonne on Wednesday, from $680 per tonn...Read More

There have been a total of 62 recorded cases of hyperinflation, and in all cases, the underlying currency in the economy has failed, according to Steve Hanke, professor of applied economics at Johns Hopkins University. "If you have hyperinflation, you can wipe out a currency and you can wipe it out fast," Hanke said. In some cases, like Hungary in 1945, it only took 15 hours for prices to double....Read More

Lior Gantz has been called a thrill-seeking entrepreneur by his team, and as such, he built and runs numerous successful businesses, and has traveled to over 30 countries in the past decade in pursuit of thrills and opportunities, gaining valuable knowledge and experience. With Wealth Research Group, Lior allows readers access into the world of the few who beat the markets consistently for decades...Read More