The delusional central banker said the record-high price of gold "tells you precisely nothing."Continue...Read More
Steel slab export prices for material from Brazil increased in the week ended Friday September 4, with tight supply but renewed demand in North America and other regions.Producers have been increasing their offers because of the low-supply situation, with many blast furnaces halted in Brazil and in the Commonwealth of Independent States (CIS) because of Covid-19-related restrictions.Offers were ma...Read More
Prices in the CIS export market for steel billet picked up in the week to Friday September 4 despite the lack of trading activity. Higher scrap prices seen in recent import transactions in Turkey, together with a reduced number of billet offers from CIS mills, supported the market.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was up by $4 per tonne day on day to $408 per tonne...Read More
Sector expert Michael Ballanger provides a Special Situations report on junior explorers and developers he expects will experience exponential growth in this precious metals bull market. It was in the last week of November 2015 that I witnessed a never-before-beheld event in the quantitative world of gold and silver analysis: Commercial traders were actually "long" gold futures for the first time...Read More
Indian authorities have decided to slash export rebates, in a move which market participants expect will raise prices for steel shipped out of the South Asian nation, Fastmarkets understands.An Indian steel trader told Fastmarkets that a final decision on the matter was still under discussion, but he expected that the rebate he received on steel exports would be cut from a current 2.5-3% per trans...Read More
Paradigm Capital calls Vox Royalty "the highest acquisitive story in the industry." In a Sept. 2 research note, analyst David Davidson reported that Paradigm Capital initiated coverage on Vox Royalty Corp. (VOX:TSX.V), calling it "the highest acquisitive story in the industry" and "a high-growth, precious metal-focused stream and royalty company with a portfolio of over 40 transactions spanning s...Read More
During this program, UrbanGold Minerals encountered occurrences of gold mineralization. Stock photoUrbanGold Minerals Inc. (UGM:TSX.V) completed the phase 1 drill program at its Pallador gold project in Quebec's Troilus-Frotet region, it announced in a news release. The campaign consisted of six holes drilled over 1,620 meters in the Golden Road block of Pallador, which is about 16 kilometers to...Read More
Europe's monthly alloy steel surcharges for September have increased moderately from the levels in August because of higher nickel costs, Fastmarkets heard on Friday September 4.Fastmarkets' stainless steel cold-rolled sheet, 2mm, grade 304, alloy surcharge, domestic, Europe, was calculated at ?,?1,367-1,377 ($1,617-1,629) per tonne for September, up by ?,?10-22 per tonne from the August range.The...Read More
Light vehicle production in Mexico decreased 13.2% year on year in August, according to figures from the country's statistics agency, Inegi.Mexican automakers produced 293,463 vehicles last month, a decrease of 44,435 units from the 337,898 vehicles produced in August 2019, according to the figures released on Friday September 4.Output also declined by 0.5% from 294,946 units in July.Sales...Read More
Vehicle output recovered month-on-month in Brazil during August, but was still down by 21.8% in comparison with the same month in 2019, the national automakers association, Anfavea, said on Friday September 4.The country produced 210,860 vehicles in August, compared with 269,758 units in August 2019. Production, however, was up by 23.6% compared with July's 170,651 units.O...Read More
Indian authorities have decided to slash export rebates, in a move which market participants expect will raise prices for steel shipped out of the South Asian nation, Fastmarkets understands.An Indian steel trader told Fastmarkets that a final decision on the matter was still under discussion, but he expected that the rebate he received on steel exports would be cut from a current 2.5-3% per trans...Read More
Member mills of the China Iron & Steel Association (Cisa) largely kept their crude steel production rates unchanged in late August from the preceding 10 days, but their finished steel inventories continued to drop, according to data released on Thursday September 3.August 21-31 outputCrude steel: 2.16 million tonnes per day, down by 0.04%Finished steel: 2.19 million tpd, up...Read More
The uptrend in the South American flat-steel import market persisted in the week to Friday September 4, as Chinese mills increased prices once more and steelmakers from other regions were preparing to present more expensive offers of November-shipment cargoes.Fastmarkets' assessment for steel hot-rolled coil import, cfr main ports South America was $550-570 per tonne on Friday, a $10-per-tonn...Read More
Steel slab export prices for material from Brazil increased in the week ended Friday September 4, with tight supply but renewed demand in North America and other regions.Producers have been increasing their offers because of the low-supply situation, with many blast furnaces halted in Brazil and in the Commonwealth of Independent States (CIS) because of Covid-19-related restrictions.Offers were ma...Read More
Global scrap prices have increased in the past week on stable demand from major importing countries such as Turkey and Vietnam. Many market participants in Asia expected the price uptrend to continue in the near term.Import price in Turkey reaches $300 per tonne cfrUS East Coast price surges upward by $11 per tonneTaiwanese buyers fail to achieve lower pricesVietnam spot liquidity limited on major...Read More
The three-month prices of all base metals listed on the London Metal Exchange rose on Friday September 4, with nickel and aluminium gaining the most.The LME three-month nickel price closed at $15,290 per tonne on Friday, after briefly reaching an intraday high of $15,325 per tonne, with 7,233 nickel lots traded over the day.Nickel was the best performer of the LME base metals in August, registerin...Read More
Ernst van Amen has joined warehousing and logistics company Pacorini Global Services (PGS) after 16 years as head of metals at C. Steinweg Rotterdam, the company said. Van Amen will be based in Rotterdam and work closely with Mario Casciano, chief executive officer of North America; Daniel Saez, CEO of Africa, East Asia, Netherlands and Spain; and...Read More
The three-month prices of all base metals listed on the London Metal Exchange rose on Friday September 4, with nickel and aluminium gaining the most.The LME three-month nickel price closed at $15,290 per tonne on Friday, after briefly reaching an intraday high of $15,325 per tonne, with 7,233 nickel lots traded over the day.Nickel was the best performer of the LME base metals in August, registerin...Read More
Iron ore futures prices declined on Friday September 4 amid weak trading sentiment following the downturn in the US stock market. But with 57% Fe Indian fines traded in US dollars on the platform again in 2020, low-grade and high-grade fines performed well at ports on strong demand, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $128.80 per tonne, down $1.12 per tonne62% Fe...Read More
The seaborne premium hard coking coal fob index jumped on Friday September 4 following a new much-higher transaction, which sources say reflects rising demand, Fastmarkets heard.Fastmarkets indicesPremium hard coking coal, fob DBCT: $110 per tonne, up $3.78 per tonne Premium hard coking coal, cfr Jingtang: $114.66 per tonne, up $0.23 per tonneHard coking coal, fob DBCT: $86.26 pe tonne, up $0.50 p...Read More