Three-month base metals prices on the London Metal Exchange were collectively higher at the close of trading on Wednesday November 4, with upward price movements largely supported by a steady decline in the US dollar index, while broad uncertainty over the US presidential election did little to trim standout volumes over the day.Topping complex gains over the afternoon, LME zinc's outright price c...Read More
McClellan Financial Publications, IncPosted Nov 4, 2020Oct 30, 2020Since the 2000 election, I have done comparisons of presidential poll numbers and the stock market, which have provided useful insights about how the election was going to turn out.This year, I am not so sure about it working as it has in the past, and for a variety of reasons. This week’s leadoff chart (and I have a bunch mo...Read More
The European high carbon ferro-chrome markets were largely stable in week to Tuesday November 3 despite concerns about Covid-19 inspiring caution among consumers, sources said.Fastmarkets' ferro-chrome high carbon 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe assessment was stable at $0.88-1.03 per lb Cr for a second consecutive week on Tuesday November 3.Likewise, Fastmarkets' assessme...Read More
A proposed tax on chrome ore exports from South Africa was the driving factor in the country's UG2 chrome ore market in the week to Tuesday November 3.Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, was $139 per tonne on Tuesday. This was up by $3 per tonne (2.2%) from $136 per tonne in the preceding week.The South African government has proposed an export tax on...Read More
Democrat Joe Biden was ahead in electoral college votes and US president Donald Trump was earlier calling for recounts and legal action.Northern Dynasty Minerals (TSX: NDM) closed down 15.8% on fears over permitting, given Biden reportedly said in August he would stop the proposed Pebble mine in Alaska if he won the election.The US Federal Reserve meeting finishes later today, while Australia's Re...Read More
Discovered at a time when De Beers ruled the diamond world with an iron fist wrapped in a red velvet glove, Argyle was in the wrong place at the wrong time with a mix of stones which were of ordinaryRead More
Vancouver, BC - Siyata Mobile Inc. (NasdaqCM: SYTA, SYTAW ) (the "Company" or "Siyata") is pleased to announce that the underwriters, in connection with the Company's U.S. initial public offering that closed on September 29, 2020 (the "Offering"), have partially exercised the over-allotment option. As a result, the Company has issued 120,000 additional common shares in the capital of the Company a...Read More
Prices for base metals dropped in morning trading on Wednesday November 4, after Donald Trump said he plans to contest the result of the incomplete and already uncertain presidential election in the United States.Aluminium, nickel and copper had all dropped by 1% or more as of 8:20 UK time with votes still being counted in a US presidential race that looks set to go down to the wire and in which a...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 4 that are worth another look.Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.The recovery in Peruvian copper output off the...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 4 that are worth another look.Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.The recovery in Peruvian copper output off the...Read More
The tightness in China's domestic market for aluminium scrap has slightly eased week on week with more aluminium scrap cargoes arriving in the country, Fastmarkets learnt on Wednesday November 4.The change came after Chinese producers of aluminium ADC12 were allowed to import qualified aluminium scrap based on a new customs code that came into effect on November 1."We stored some volumes of standa...Read More
Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.Democratic Party candidate Joe Biden has garnered 223 electoral votes as at 2pm Singapore time, compared with Republican candidate Donald Trump's 174 votes, according to the Associated Press."It's not a sure-win for Biden now, especially since there are still som...Read More
Madagascan producer Ambatovy will resume nickel and cobalt operations in February 2021, a source with knowledge of the matter told Fastmarkets.The Ambatovy project was closed in March due to national restrictions imposed to contain the spread of the Covid-19 pandemic in Madagascar. Sumitomo owns 47.7% of Ambatovy, Sherritt International Corp owns 12% and the remainder is held by...Read More
Most prices in Turkey for hot-rolled coil and cold-rolled coil went down in October 2020, with some market sources expecting further price decreases, Fastmarkets heard on Wednesday November 4.Turkish flat steel producers were fully booked until January, with trading sources reporting that the market was moderate in October because of the uncertainty about prices after China's Golden Week national...Read More
Good order books at European hot-rolled coil producers combined with a lack of competitive import offers remained the key factors behind the recovery in domestic prices and the upbeat mood among domestic mills, sources told Fastmarkets on Wednesday November 4.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?505.11 ($590.47) per tonne on Wednesday,...Read More
Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.Democratic Party candidate Joe Biden has garnered 223 electoral votes as at 2pm Singapore time, compared with Republican candidate Donald Trump's 174 votes, according to the Associated Press."It's not a sure-win for Biden now, especially since there are still som...Read More
Anything exciting happen last night?Granted, things are a bit more confusing this time as we sit and wait for a decisive result from several key battleground states. Usually, offices and workplaces are buzzing after an election of this magnitude. Depending on the mood, the range of emotions you'll witness is nothing short of extraordinary. Either way, everyone seems to be stuck in the same place,...Read More
Prices for hollow steel sections in Europe remained static this week but mills are looking to push prices higher in the coming weeks on solid order books, sources told Fastmarkets on Wednesday November 4.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?630-650 ($736-760) per tonne on Wednesday, unchanged week on week.The price of hot-rolled coil...Read More
The price of steel H-beams in Europe was unchanged this week as a result of negative sentiment related to the resurgence of the Covid-19 pandemic, sources told Fastmarkets on Wednesday November 4.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?540-570 ($631-666) per tonne on Wednesday, unchanged week on week.Prices have been unchanged for the past...Read More
Steel mesh-quality wire rod prices in the north of Europe remained largely unchanged in the week to Wednesday November 4, with sentiment still optimistic despite concerns over the second wave of Covid-19 infections, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe was unchanged at ?,?485-495 ($567-579) per ton...Read More