Indian suppliers exhausted their second-quarter quota for shipments of hot-rolled coil into Europe on the first day of the new three-month period, according to data released by the European Commission (EC).The European Union's HRC quota of 162,983 tonnes assigned to suppliers from India was fully exhausted on April 1.About 33,291 tonnes of HRC from India were awaiting allocation.Indian suppli...Read More
Europe's domestic hot-rolled coil prices continued to rise on Wednesday April 7 due to buyers' growing need to restock and limited sources of material, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe at ?,?894 ($1,057.80) per tonne on April 7, up by ?,?9 per tonne from ?,?885 per tonne on April 6.The index was up by ?,?58 per tonn...Read More
European steel H-beam prices moved up on Wednesday April 7, following good demand and high feedstock prices, sources told Fastmarkets.Producers have been trying to achieve price increases of ?,?30 per tonne for several weeks, with one European producer now renewing efforts to push through the increase, citing strong order books and historically high raw materials costs. Fastmarkets' weekly price a...Read More
Prices for steel hollow sections in Europe remained flat on Wednesday April 7, with the renewed import quota relieving pressure on the market with mills facing higher feedstock costs, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was unchanged at ?,?920-950 ($1088- 1,124) per tonne on Wednesday.The price of hot-rolled coil,...Read More
Domestic steel wire rod prices in Southern Europe were flat in slow post-holiday market, with most sources expecting prices to remain steady or tick up in coming weeks due to limited supply, Fastmarkets heard on Wednesday April 7.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality) domestic, delivered Southern Europe was ?,?660-670 ($781-793) per tonne on Wednesday, unchanged fro...Read More
Turkish deep-sea scrap import prices pushed up again after three fresh cargoes were sold from the United States and Baltic Sea regions for May shipment, market participants told Fastmarkets on Wednesday April 7.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 16,000 tonnes of HMS 1&2 (80:20), 8,500 tonnes of shredded, 4,500 tonnes of bonus, 3,500 tonnes of rail and a 2,5...Read More
Iron ore prices pushed up on Wednesday April 7, chasing previous increments in steel prices but depressing seaborne activity, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $173.63 per tonne, up $2.73 per tonne62% Fe low-alumina fines, cfr Qingdao: $174.16 per tonne, up $3.16 per tonne58% Fe fines high-grade premium, cfr Qingdao: $154.65 per tonne, up $1.40 per to...Read More
The import price for heavy scrap (HS) into China maintained its upward trend this week, with more buying interest heard in the spot market amid climbing prices in the region. Fastmarkets' price assessment for steel scrap, heavy recycled steel materials, cfr China was $475-480 per tonne on Wednesday April 7, up by $15 from $460-465 per tonne on April 6. This followed a $5 narrowing in the rang...Read More
Export billet prices from the Black Sea basin were supported by rising buying prices for the material in Asia, particularly China, while neighboring markets remained weak, sources told Fastmarkets on Wednesday April 7.They said the strong demand for imported billet in China, stemmed from the reduced availability of material in the domestic market, which was due to production cuts and surging finis...Read More
On the bullish side, there is a GIGANTIC amount of money being pumped into the financial markets by the Fed, which is creating and injecting $120 billion into the markets every month. On top of that, the Treasury Department has a bank account with more than $1 trillion in it; and it plans to spend all that money over the next few months. All this Liquidity is likely to put more upward pressure on...Read More
If extreme demand continues it will force prices higher, says silver expert David Morgan of http://TheMorganReport.com?EUR<.0:47?EUR< #SilverSqueeze?EUR< update6:51?EUR< Premiums on 1000oz bars8:27?EUR< #Silver?EUR< to be forced higher?10:56?EUR< Silver supply/demand15:24?EUR< #Market?EUR< bottoming18:43?EUR< #Mining?EUR< M&A'sDavid Morgan is a world-renown precious metals aficionado. He is the cr...Read More
Export prices for steel billet from Iran continued to rise in early April, supported by demand from Asia and, in particular, from customers in China, sources told Fastmarkets on Wednesday April 7.One Iranian producer booked 30,000 tonnes of billet, scheduled for delivery at the end of April, at $570 per tonne fob southern Iranian ports.Another steelmaker in Iran sold 30,000 tonnes of billet, to be...Read More
Breaking news from the FBI raid of a Beverly Hills private safe deposit box storefront this week raised concerns for gold & silver holders, who want to know ,"What's the difference between that place that got raided vs. my bullion value storage?"Andy Schectman, CEO of Miles Franklin Precious Metals, returns to Liberty and Finance to give a quick weekly market update on the latest news from within...Read More
The Daily Gold's Jordan Roy-Byrne joins us today to discuss the latest moves in the yellow metal and the miners. Things are improving, but we need to see just a bit more price action to perhaps begin a new trend. Jordan and Trevor also share some fundamental reasons why gold is looking good in the mid to long term.Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Tech...Read More
The Critical Investor explains why Meridian Mining could have a "pretty attractive project at the right time in the metal price cycle." The latest Meridian news release shows an impressive hint of the mineralized potential of the Caba?al VMS Copper-Gold Project in Brazil, at which Meridian Mining UK S (MNO:TSX.V) last year signed an option agreement for a 100% ownership. Meridian announced the ro...Read More
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