Trade log for cobalt sulfate in China including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are yuan per tonne on an ex-works basis.Fastmarkets pricesClick here for Fastmarkets' price assessment for cobalt sulfate, Co 20.5% basis, China ex-works, yuan/tonne.The exchange rate on Friday May 8 was 43,000 yuan to $6,063.Read More
Share this articleVANCOUER, B.C. - SSR Mining Inc. and Alacer Gold Corp. have signed a deal to merge operations.Under the all-stock deal, Alacer shareholders will receive 0.3246 SSR Mining shares for each Alacer share held. The exchange ratio implies a value of $8.19 per Alacer share, based on closing prices Friday.The combined company will continue as SSR Mining and be headquartered in Denver. SS...Read More
Here are five Fastmarkets stories you might have missed on Monday May 11 that are worth another look.A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on May 11.The London Metal Exchange will not rush back into trading on the open outcry ring and is happy with the effectiveness of the current ele...Read More
Domestic prices for hot-rolled coil in Northern Europe have moved down slightly day on day on Monday May 11 amid a slow market, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was ?,?420 ($454.99) per tonne on Monday May 11, down by ?,?0.83 per tonne from ?,?420.83 per tonne on Thursday May 7. The index is down by ?,?3.13 per tonne week o...Read More
Elon Musk had a baby last week. And he named it X ?+ A-12...I feel like those words should be the opening to a story about Elon Musk inventing a new type of rocket engine or 200-mph passenger submarine. But, no. Elon Musk and his girlfriend, singer Grimes, had a literal baby and named it X ?+ A-12.As you can imagine, the unusual name sparked a flurry of online discussion and debate with social med...Read More
A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on Monday May 11.Five new infections have surfaced in the Chinese city of Wuhan where the outbreak first came to light, while 11 new cases have been recorded in Shulan city in Jilin province. And in the South Korean capital Seoul, the authori...Read More
Here are five Fastmarkets stories you might have missed on Monday May 11 that are worth another look.A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on May 11.The London Metal Exchange will not rush back into trading on the open outcry ring and is happy with the effectiveness of the current ele...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index rose 1.79 points to close at 886.24.MACD fell over 9 points to 1.63. RSI edged 0.06 points higher to 55.78.Support is at 815.07 and 847.62 (50-day moving average). Resistance is at 900 and 909.82 (upper Bollinger band).As far as performance goes, the INK Canadian Insi...Read More
A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on Monday May 11.Five new infections have surfaced in the Chinese city of Wuhan where the outbreak first came to light, while 11 new cases have been recorded in Shulan city in Jilin province. And in the South Korean capital Seoul, the authori...Read More
The value added tax (VAT) rate in Saudi Arabia will increase to 15% - from the current 5% - in effect from July 1, the Saudi Arabian Ministry of Finance announced on Monday May 11.The country had initially imposed 5% VAT from January 1, 2018 alongside the United Arab Emirates (UAE) - forthe first time in the history of the two countries.Saudi Arabia's Ministry of...Read More
Turkish steel mills returned to the deep-sea scrap markets amid better domestic steel demand, causing prices to rise, while other major markets except Vietnam were largely stable during the working week ended Friday May 8.Turkish steel producers resume deep-sea bookings, prices upUS scrap export market silent; dock buying prices flatSentiment in the Vietnamese scrap import market positive due to i...Read More
Turkish steel producers have resumed their deep-sea scrap purchases at higher prices amid recovering demand in the country's local long steel markets, with further sales to Europe anticipated when the safeguarding quota period ends at the end of the June.A steel mill in the Izmir region booked a Baltic Sea cargo comprising 24,000 tonnes of HMS 1&2 (80:20) at $251.75 per tonne and 6,000 tonnes of b...Read More
Domestic scrap prices in the Turkish markets have increased over the past week amid a strengthening of demand, sources said on Monday May 11.The steel mills in the Izmir region have increased their buy prices for auto bundle scrap by 50-75 Turkish lira ($7-11) per tonne over the past week.Long steel mills ID?? and Habas raised their buy prices for auto bundle scrap to 1,590 lira ($224) per tonne,...Read More
Sentiment in the Commonwealth of Independent States' (CIS) export billet market improved over the weekend amid ongoing demand from China as well as increasing scrap costs, sources said.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS was $345 per tonne on May 11, up by $9 from Thursday May 7. Several cargoes of Ukraine-origin billet totaling 90,000 tonnes were sold to C...Read More
Import prices for steel slab in Southeast Asia and East Asia widened over the past week on sustained import demand from China despite the muted trading activity in other parts of Asia, Fastmarkets heard.Fastmarkets' price assessment for steel slab imports, cfr Southeast Asia and East Asia was $340-360 per tonne on Monday May 11, widening by $5 per tonne on both ends from $345-355 per tonne on May...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanChief Strategist, Enriched Investing Inc.Phone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12May 11, 2020 "The dead outnumber the living fourteen to one, and we ignore the accumulated experience of such a huge majority of mankind at our peril." Niall Ferguson, Scottish born historian, senior fellow...Read More
By Rob KirbyIn recent interviews I have "borrowed" a descriptive I originally heard from Chris Martenson explaining the effect of compound interest and exponential growth. The descriptive involved picturing Yankee Stadium and beginning with a drop of water and doubling the amount of water until the stadium was full. Regarding the compounding visual - I misspoke somewhat when I originally exp...Read More
By Stefan GleasonThe forces of deflation and inflation continue to tug at the economy simultaneously.The pressures on both sides are huge.On the deflation side, jobs, industrial demand, and the small business lifeblood of communities are contracting at an unprecedented pace. Meanwhile, trillions in credit card, auto, student loan, and mortgage debt that props up consumer spending and home values...Read More
The deflation and depression is right here, right now, and if you don't believe that, try asking some of the 30 million people who just lost their jobs in the US or those who (used to) work in the catering and tourism industries.The Fed is reacting to this situation by working to create hyperinflation because it finds it preferable to a deflationary implosion. There are two reasons for this - on...Read More