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COKING COAL DAILY: Seaborne premium price up on ex-China demand

August 22, 2020 / www.metalbulletin.com

Seaborne premium hard coking coal prices edged up on Friday August 21, with ex-China demand picking up, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $104.71 per tonne, up $0.54 per tonne Premium hard coking coal, cfr Jingtang: $114.63 per tonne, up $0.03 per tonneHard coking coal, fob DBCT: $85.19 per tonne, up $0.17 per tonneHard coking coal, cfr Jingtang: $98.29 per tonne,...Read More

LIVE FUTURES REPORT 21/08: Eurozone PMI weakness weighs on LME base metals complex; copper sinks below $6,600/t

August 22, 2020 / www.metalbulletin.com

Three-month base metals prices on the London Metal Exchange were mostly down during morning trading on Friday August 21 after the release of key purchasing managers' index (PMI) data out of Europe disappointed, while copper futures took the brunt of the decline over the morning in a 1.2% drop. Copper's outright price on the LME was recently seen at $6,535 per tonne, slipping below nearby resistanc...Read More

RESEARCH: Key takeaways from the latest Base Metals Market Tracker

August 22, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view. We also review our price forecasting accuracy for the second quarter 2020.Q2 2020 price forecast performance review According to the results of Fastmarkets' Apex for the second quarter of 2020 published this week, Fastmarkets' base metals research team was the second most accurate price forecaster for nickel (99.06%), lead...Read More

Silver to Reach $70 in the Next 12 Months

August 21, 2020 / www.silverdoctors.com

Right now, we may be nearing another buying opportunity...Patrick Kim interviewed on Palisade RadioTom welcomes Patrick Karim back to the show to discuss his latest charts that focus on silver and gold. Patrick is a proprietary capital manager and chart trader.Patrick discusses various historic technical patterns and how they may repeat in his coming bull market. He expects $2300 gold within a cou...Read More

RESEARCH: Key takeaways from the latest Base Metals Market Tracker

August 22, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Comfortable consolidationAluminium appears comfortable consolidating for the moment, and this will leave prices in a stronger position to challenge overhanging long-term trend-line resistance from the May 2018 high, which stands at $1,670 per tonne currently.Copper: Consolidation unlikely to lastCopper reached its...Read More

RESEARCH: Key takeaways from the latest Base Metals Market Tracker

August 22, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Upside breakout last weekThe price of aluminium on the London Metal Exchange surprised us with a break to the upside in the week ended July 10, when prices on the Shanghai Futures Exchange raced to three-and-a-half-year highs. While we think there is more short-term upside potential if technical and liquidity fact...Read More

RESEARCH: Key takeaways from the latest Base Metals Market Tracker

August 22, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Capped by oversupplyA lack of a meaningful supply adjustment to the Covid-19 demand hit is keeping the aluminium physical market oversupplied and weighing on prices, limiting the success of more buoyant macro and technical forces on prices. Our premium forecasts are under review in light of threats from the U...Read More

RESEARCH: Key takeaways from the latest Seamless OCTG and Linepipe market tracker

August 22, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.US market at risk of slidingPrices for pipe products were at a floor in the United States in mid-August, and have been broadly stable at that level since the start of the second quarter, but they are at risk of declining further in the coming months.Drilling rig counts have yet to find a floor and have fallen below most esti...Read More

RESEARCH: Key takeaways from the latest North American Steel market tracker

August 22, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US domestic prices for hot-rolled coil moved down in line with our expectations, averaging $461 per ton in July versus our forecast price of $460 per ton. Although domestic HRC prices slipped to less than $450 per ton in late July/early August, we maintain the view th...Read More

RESEARCH: Key takeaways from the latest Steel market tracker

August 22, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.?EUR? US domestic prices for hot-rolled coil have moved down in line with our expectations, averaging $508 per tonne in July compared with our forecast price of $519 per tonne. While we are forecasting coil price increases in August, we have revised our expectations downward. Although steelmakers are reporting improving dema...Read More

RESEARCH: Key takeaways from the latest Steel Scrap and Metallics market tracker

August 22, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.The price for steel scrap in China has risen recently, amid high mill operating rates and at a time of heavy rain, but it remains at a premium to hot metal, we estimate. Heavy rains in China tend to increase the moisture content of iron ore stockpiles, which can cause issues during the sintering process, and this may have en...Read More

RESEARCH: Key takeaways from the latest Ferro-alloys Market Tracker

August 22, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:Numerous ore and alloy markets enjoyed upward pricing momentum in the first half 2020, with supply-side constraints supporting prices despite collapsing demand from steelmakers and other key end users. While supply side issues related to Covid-19 lockdowns have been resolved,...Read More

RESEARCH: Key takeaways from the latest Ferro-alloys Market Tracker

August 22, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.In previous reports, we noted that upside risks to our forecasts existed. These were based on Chinese steel production, and in turn alloy consumption, outperforming our expectations.Chinese crude steel production is rising each month in a year-on-year comparison, prompting our revised view that Chinese alloy consumption will...Read More

RESEARCH: Key takeaways from the latest Ferro-alloys Market Tracker

August 22, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.The Covid-19 pandemic and the associated impacts on steel production, mining and manufacturing activity, end-use consumption, and trade and transportation continue to dominate ferro-alloy markets. US steel mills are operating at around 50% of capacity, with similarly low operating rates evident in Europe as well. Chinese ste...Read More

RESEARCH: Key takeaways from the latest Ferro-alloys Market Tracker

August 22, 2020 / www.metalbulletin.com

Ferro-alloys prices have generally retreated over the past month, with demand concerns gaining in prominence.The latest forecasts from Fastmarkets' team of analysts are ready to view.Ferro-alloy pricing trends have generally diverged ove the past month, depending on the security of the supply-side position of the market. With most supply concerns fading with the resumption of industrial activity i...Read More

RESEARCH: Key takeaways from the latest Steel Raw Materials market tracker

August 22, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.There has been an increasing bullishness in Chinese steel market sentiment recently, with rising post-Covid-19 optimism about the country's economy for the second half of 2020, especially after the government announced an infrastructure spending boost. Although we believe that high prices are justified, they remain far from...Read More

RESEARCH: Key takeaways from the latest Steel Raw Materials market tracker

August 22, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.Heavy rains in China, which can negatively affect iron ore supplies and pig iron production, and bolster demand for scrap, continued in July 2020. Although this was more an upside risk to our bearish base case one month ago, Chinese scrap prices remained strong. The firm prices gained support from the rains and from a more g...Read More

RESEARCH: Key takeaways from the latest Steel Raw Materials Market Tracker

August 22, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.This year has come with several unexpected events which increased the bullish case for iron ore prices, while the Chinese government's spending on infrastructure is likely to boost iron ore demand and add upside support to prices. But supply disruptions and a demand surge which caused price spikes are now easing. We do not e...Read More

RESEARCH: Key takeaways from the latest Steel Raw Materials Market Tracker

August 22, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' teamof analysts are ready to view.Chinese crude steel production outperformed our expectations with its recovery since the Covid-19 pandemic lockdowns. Crude steel output was up by 2.3% year-on-year in the first half of 2020 to 503 million tonnes, and we have revised upward what was initially a more bearish forecast for this year. We now estimate that product...Read More

RESEARCH: Key takeaways from the latest Stainless Steels market tracker

August 22, 2020 / www.metalbulletin.com

The latest forecast from Fastmarkets' team of analysts is ready to view.As we enter the summer season across the northern hemisphere, almost half a year has passed since the Covid-19 pandemic began to seriously affect Europe and the United States.One would not really be able to tell that such a dramatic event had occurred by looking at stainless steel prices, however, because they are more or less...Read More

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