Road freight in South Africa has been slow to return to normal operations following demonstrations on Tuesday July 7 in which vehicles were set alight and drivers threatened, adding to the Covid-19-related problems that have affected the country's logistics.The transportation of freight in South Africa has remained limited after Tuesday's protests against the employment of non-South African driver...Read More

African metal exporters are re-routing their cargoes to avoid the logistics problems created a nationwide strike by truck drivers in South Africa that started on Tuesday July 7.Major roads were blocked amid protests by South African truckers who oppose the employment of foreign drivers."Cargoes are now stuck in South Africa. Transport [operators] have told drivers to park [their vehicles] wherever...Read More

Here are five Fastmarkets stories you might have missed on Wednesday July 8 that are worth another look.The recovery in Chinese steel consumption, especially that for rebar, has been "extraordinary," while the downturn in the automotive sector may not necessarily mean stainless steel demand will decline this year, delegates heard at Fastmarkets' Covid-19 and Asian ferro-alloys markets webinar...Read More

NZAS, a joint venture between Rio (79.36%) and Sumitomo Chemical Company (20.64%), operates the Tiwai Point aluminium smelter on New Zealand's South Island.The decision follows a strategic review which concluded the business was no longer viable given high energy costs and a "challenging" outlook for the aluminium industry.Rio posted an underlying loss of NZ$46 million on the smelter in 2019.Rio s...Read More

Market participants in the US ferrous supply chain attending aFastmarkets webinar on June 30 expected prices to be largely stable in the coming months, but benchmark indicators continue to track downward as an uneven reopening of the United States economy clouds the outlook. About 62% of respondents to a poll held during the webinar - titled "Sunny days ahead?" - expected hot-rolled coil...Read More

By Hubert Moolman During the 70s bull market, gold went from $35 to $195 in the first phase. That was a 458% increase. The first phase of the current bull market took gold from $252 to $1920, which made for a 661% increase. At first glance, it would appear that the current bull market outperformed the 70s one. However, it only took about five years (1970 to 1975) to get the 458% increase, co...Read More

Gold is bullish. Spot gold will rise very quickly on a break of $1810. Federal Reserve policy makers pledged more support by way of more bond buying. I never understood how printing more money leads to way out of a pandemic or a recession. Central banks are not addressing the core economic fundamentals of (a) Reduction in the cost of living like school fees and college fees. (b) Creation more in...Read More

"The aim is to create efficiencies for [producers], especially for multi-metal producers with one framework and level of scrutiny for all," Copper Mark executive director Michle Brulhart toldRead More

Turkish steel producers have continued to stay away from the deep-sea scrap market so far this week because of weak demand for finished long steel, sources told Fastmarkets on Wednesday July 8.Mills in Turkey booked five deep-sea cargoes late last week, totalling around 140,000 tonnes.However, they went quiet at the beginning of the week after struggling to sell finished long steel products i...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Price uptrend stumbles, but expected to resumeAs we expected, Chinese export and domestic steel prices moved upward in June, settling within the 2% range of our forecasts. Rebar prices trended downward in the second half of the month while heavy rains and floods in parts of the country meant that some construction sites had...Read More

With the exception of China's CSI 300, Asian-Pacific equities and pre-market major western equity futures were weaker this morning, Wednesday July 8, while base metals prices on the London Metal Exchange were little changed and those on the Shanghai Futures Exchange were generally firmer.We wait to see if the halt in the rise in equities is just a pause, or whether focus is turning to the rapid sp...Read More

Nornickel should pay $2.1 billion in damages for an unprecedented oil leak in the Arctic by a company subsidiary, Russia's Environment Supervision Agency, Rosprirodnadzor, suggested on Monday July 6. The "voluntary" damages bill sets a Russian record and adds to at least another $343 million Nornickel previously said it would spend related to the May 29 incident in Siberia. Nornickel gave a "hugel...Read More

The cobalt standard grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt standard grade, in-whs Rotterdam at$13.80-14.20 per lb...Read More

The cobalt alloy grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trade logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it...Read More

Here are five Fastmarkets stories you might have missed on Wednesday July 8 that are worth another look.The recovery in Chinese steel consumption, especially that for rebar, has been "extraordinary," while the downturn in the automotive sector may not necessarily mean stainless steel demand will decline this year, delegates heard at Fastmarkets' Covid-19 and Asian ferro-alloys markets webinar...Read More

Hot-rolled coil prices in the United States increased slightly on Wednesday July 8 while remaining under $24 per hundredweight, with market participants split on demand outlook due to continued concerns about the Covid-19 pandemic.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $23.53 per cwt ($470.60 per ton) on Wednesday July 8, a 0.7% increase from $23.36 per cwt o...Read More

Market participants in the US ferrous supply chain attending aFastmarkets webinar on June 30 expected prices to be largely stable in the coming months, but benchmark indicators continue to track downward as an uneven reopening of the United States economy clouds the outlook. About 62% of respondents to a poll held during the webinar - titled "Sunny days ahead?" - expected hot-rolled coil...Read More

Today is Wednesday, July 8, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of Arch Resources (NYSE: ARCH), Clean Energy Fuels Corporation (NASDAQ: CLNE), and Baytex Energy Corporation (NYSE: BTE).Arch Resources (NYSE: ARCH)Arch Resources (NYSE: ARCH) is a $428.24 million company today with a one-year return of -67.75%. Let's look at its price-to-earnings...Read More

Here are five Fastmarkets stories you might have missed on Wednesday July 8 that are worth another look.The recovery in Chinese steel consumption, especially that for rebar, has been "extraordinary," while the downturn in the automotive sector may not necessarily mean stainless steel demand will decline this year, delegates heard at Fastmarkets' Covid-19 and Asian ferro-alloys markets webinar...Read More

Steel rebar prices were largely steady in Europe in the week to Wednesday July 8 with buying activity reported to be satisfactory in most regions. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was ?,?425-435 ($480-492) per tonne on Wednesday, narrowing from ?,?420-435 per tonne delivered last Wednesday. The assessment was based on...Read More