A negative arbitrage between the London Metal Exchange and Shanghai Futures Exchange resulted in lower premiums for all nickel grades in China in the week to Tuesday July 7, while other regional premiums remained unchanged. China trading interest wanes amid long-lasting negative LME/SHFE arbitrage, prompting lower premiumsEuropean spot buying remains lackluster with scant deals reported in already...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

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

Jeff Clark, Senior Analyst, GoldSilverMost everyone you know is a member of a cult. It's not their fault, and they didn't consciously seek it out, but your friends and family and almost everyone you know and even come in contact with belong to a system that has brainwashed them.This cult is robbing them. And it's doing so clandestinely, without their knowledge or approval. It's so sly that they...Read More

- Craig Hemke, TF MetalsFor as long as I can remember, I've stated that negative nominal and negative real interest rates are the key, primary driver for higher gold prices. And now we're seeing this play out in real time.First of all, what is the "real" interest rate? Simply put, it's the nominal or stated rate of a bond minus the inflation rate. Here's a definition from Investopedia:And here...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

By: Avi GilburtThere are so many fallacies perpetuated and regurgitated throughout the market, yet there is so little time to appropriately address them all.Of late, almost all the "analysis" or comments you read or hear is based upon a superficial understanding of the market propagated through "common-speak." And, that is exactly why they all seem to be so confused:"The stock market is confusin...Read More

Kirkland Lake Gold has been one of the biggest winners over the past 5yrs, propelling itself from a 160k oz. Au producer to what has emerged [along with Endeavour Mining] as the next senior gold producer [1m oz. of production or greater]. Kirkland Lake has a great asset to start, the Kirkland Lake mining complex, notably the Macassa mine, which has taken several years to optimize and will reach...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 London Metal Exchange is looking for ways to boost its options market, which has been struggling for some years to replicate the growth seen in the same sector among its peers.The exchange has launched a consultation, scheduled to end on July 29, on developing electronic options via a new trading platform while retaining its current inter-office options trading structure.Items up for discussio...Read More

The mining industry does a huge amount of good for local communities, to say nothing of its essential contribution to society through the materials it produces. Unfortunately, it all too often manages to give itself a bad name, worsening negative perceptions of the sector through accidents, spills and a failure to act as a steward of the environments in which it operates. In the past month alone,...Read More

The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise. And that's how Neil Herrington, senior vice president for the Americas, US Chamber of Commerce, views reports that the US administration is c...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 8.Please click...Read More

The London Metal Exchange three-month aluminium price closed at its highest since March 16 on Wednesday July 8, up 1.8% on the previous day's close at $1,665 per tonne after 20,000 lots changed hands over the course of the trading day. LME aluminium futures were buoyed by a 4,975-tonne outflow of material from LME-approved sheds in Asia and a significant 43,525-tonne fresh cancelation in Port Klan...Read More

The London Metal Exchange will keep its open outcry trading ring in London closed despite the United Kingdom easing its lockdown restrictions, it announced on Wednesday July 8. "Following detailed discussions with our ring-dealing members and User Committee, and having fully assessed the updated UK government guidance that came into effect on 4 July, our position remains not to reopen the ring unt...Read More

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

The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Poised for a technical breakoutFears over a second wave of Covid-19 continue to grow, forcing prices of aluminium and the other base metals to take a pause. Our base-case scenario is that countries will respond more efficiently to contain the virus spread, so economic activity and metal demand should continue to r...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Demand outlook revisedWe are not surprised to see aluminium prices retreat from last week's high after flagging up in recent reports that they had become overbought. 'Sell-the-rally' traders will be targeting the April high now, down at $1,534 per tonne. This week we have reviewed our aluminium demand forecasts fo...Read More

JP Morgan has a dilemma...Craig Hemke interviewed on USA Watchdog by Greg HunterDemand for gold delivery is exploding, and that is a big reason for the upward price pressure. What about silver? Why is it lagging behind gold? It takes nearly 100 ounces of silver to equal 1 ounce of gold. That ratio is going to start coming down dramatically. Financial writer and precious metals expert Craig Hemke e...Read More