"Precious metals have extended gains with gold reaching record highs and looking set to test the $2,000 mark," Marex Spectron's Alastair Munro said from the LME desk."The surge continues for gold, with no sign that it will run out of steam any time soon," IG chief market analyst Chris Beauchamp said yesterday."It makes sense to expect further gains, especially since the intraday charts provide no...Read More

Resistance among some Chinese manganese ore traders to make further compromises on offer prices has prevented portside prices from falling significantly in the week to Friday July 24, market sources told Fastmarkets. Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China was 34.60 yuan ($4.93) per dry metric tonne unit (dmtu) on Friday. This is equivalent to $4.2...Read More

China imported 422,573 tonnes of alumina from the seaborne market in June 2020, up by 57.3% compared with imports of 268,573 tonnes in May, according to Chinese customs data released on Friday July 24.This was almost 7.5 times of the volume of 50,000 tonnes imported in June 2019, and was the highest monthly alumina imports total since February 2016.China has imported 1.91 million tonnes of alumina...Read More

Here are five Fastmarkets stories you might have missed on Monday July 27 that are worth another look.No spot trading was heard for imported rebar into Singapore in the week to July 27, due to high inventory levels and weak downstream demand, market sources told Fastmarkets.Will a call via social media...Read More

Diversified downstream requirements on costs and performance will point to the need for different battery chemistries, but in the long run, nickel-rich batteries will dominate the electric vehicle (EV) market, delegates heard during Fastmarkets' "A critical look into the impact of Covid-19 on cathode materials" webinar on Tuesday July 21. Most of the new demand for EV batteries last year were for...Read More

Now, in our third year of the survey and the Global Leadership Report (GLR) - to which the survey is geared - we can draw some meaningful year-on-year comparisons and identify trends in whatRead More

Turkish domestic steel scrap prices have continued to increase over the past week amid rising imported scrap values, sources said on Monday July 27.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 1,720-1,975 lira ($251-288) per tonne on Monday, up from last week's 1,660-1,940 lira per tonne.The Turkish steel producers have raised their buy p...Read More

Daniel R. Amerman, CFAAs shown in the graph below, the first half of 2020 produced an unusual change in the relationship between gold prices, stock prices and recessions, something that has only happened twice before in the last fifty years. Each of the two previous times this has occurred after a long run up in stock prices, it has been part of a cyclical change to a cycle favoring gold over st...Read More

Mark O'Byrne, GoldCore? + Gold prices have surged through the all time record nominal high of $1,915/oz in 2011 to over $1,942/oz today due to concerns about the outlook for stocks, bonds and other assets amid a very vulnerable U.S. and global economy.? + Gold has surged to new record highs in all major currencies today including new record highs in British pounds at ?1,514/oz and in euros at EU...Read More

By: Gary SavageThis phase usually will last 5-10 days. Key USDX technicals:https://blog.smartmoneytrackerpremium.com/Read More

Gold is setting fresh record highs with prices having been as high as $1,943.70 per oz this morning, Monday July 27, while the base metals on the London Metal Exchange were up by an average of 0.8%. Hopes and fears are driving the markets, with the hope of further United States stimulus underpinning equites and industrial metals, while concerns about the US-China diplomatic relations and how the o...Read More

Will a call via social media for "more nickel" give a jolt to the electric vehicle (EV) revolution that has been stalled by the Covid-19 pandemic? Or will suppliers find themselves unable to fulfil the dreams of entrepreneur Elon Musk?The three-month price of nickel on the London Metal Exchange has jumped by 6% since Musk, chief executive officer of EV producer Tesla, made a public plea for global...Read More

Diversified downstream requirements on costs and performance will point to the need for different battery chemistries, but in the long run, nickel-rich batteries will dominate the electric vehicle (EV) market, delegates heard during Fastmarkets' "A critical look into the impact of Covid-19 on cathode materials" webinar on Tuesday July 21. Most of the new demand for EV batteries last year were for...Read More

Brazilian apparent steel consumption is set to fall by 14.4% in 2020 as first-half figures were largely affected by restrictions put in place to limit the spread of the Covid-19 pandemic, the national steelmakers' association, Instituto A??o Brasil, said on Monday July 27.Consumption is expected to total 17.96 million tonnes this year, compared with 20.98 million tonnes in 2019, the association st...Read More

Domestic prices for hot-rolled coil in Northern Europe increased day on day on Monday July 27 despite a seasonal decline in demand, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?409.66 ($477.38) per tonne on Monday, up by ?,?1.45 per tonne from ?,?408.21 per tonne on July 24.Monday's index was based on deals heard...Read More

Domestic prices for steel hot-rolled coil continued to recover in Northern Europe in the week ended Friday July 24, although at a slower pace due to the start of the seasonal market slowdown.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?408.21 ($475.69) per tonne on Friday, up by ?,?0.68 per tonne week on week and by ?,?13.84 per tonne month on...Read More

Strap in. Things are about to get wild for gold.The price of gold opened this morning, smashing through all-time price records, topping over $1,940 an ounce.Source: Barchart.comBut the party is just getting started.And on Wednesday at 2 p.m., gold may face its biggest moment in four decades.Gold's Crisis MomentGold is facing a crisis moment. And I mean that in the most literal way possible.Most of...Read More

Here are five Fastmarkets stories you might have missed on Monday July 27 that are worth another look.No spot trading was heard for imported rebar into Singapore in the week to July 27, due to high inventory levels and weak downstream demand, market sources told Fastmarkets.Will a call via social media...Read More

Brazilian apparent steel consumption is set to fall by 14.4% in 2020 as first-half figures were largely affected by restrictions put in place to limit the spread of the Covid-19 pandemic, the national steelmakers' association, Instituto A??o Brasil, said on Monday July 27.Consumption is expected to total 17.96 million tonnes this year, compared with 20.98 million tonnes in 2019, the association st...Read More

Finished steel import volumes into the United States again dropped both month on month and year on year in June, reflecting a lack of interest in foreign products due to weak steel market fundamentals.US finished steel imports totaled 1.3 million tonnes in June, down by 22.8% from 1.6 million tonnes in May and down by 31.8% from 1.8 million tonnes in June 2019, according to preliminary Census data...Read More