(Updates prices)By Peter HobsonLONDON, July 23 (Reuters) - Copper prices rose on Thursdayas available stockpiles in London Metal Exchange (LME)warehouses tumbled and a spike in the cost of metal forimmediate delivery pointed to a tightening market.The dollar also slid to its weakest in nearly two years,making metals cheaper for buyers outside the United States.Benchmark copper on the LME was up 0....Read More
Heightened diplomatic tensions between the United States and China, and their potential implications on the phase one trade deal struck between the two nations, were a headwind for the base metals this morning, Thursday July 23. Meanwhile, more liquidity keeps underlying sentiment bullish, as do supply concerns.Base metals have run into resistance; not so the precious metals, especially gold after...Read More
Share this articleTeck Resources Ltd. saw profits fall by 165 per cent last quarter as the COVID-19 pandemic dented demand for its commodities and slashed prices.The second quarter yielded a loss of $149 million for the Vancouver-based miner, which was forced to shut down operations and halt construction at some sites.All mines are now producing, and the company has issued an updated guidance a...Read More
Key data from the pricing session in London on Thursday July 23.Key drivers Cobalt prices stabilized after falls at the beginning of the month. Some market participants beleved the market to be close to the floor due to rising...Read More
The cobalt alloy 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...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...Read More
I have a friend who is an adult film star.She's been in the business for about 15 years, doing photo shoots, video shoots, live appearances, and even hosting a radio show on SiriusXM. She's developed a loyal following over the years and has made a decent living. She's also invested a lot of her money - mostly in my stock picks. Most notably, Canopy Growth Corporation (TSX: WEED), which turned h...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 23 that are worth another look.Adjusted steel safeguard measures in Europe, combined with new trade cases, will limit availability of imported hot-rolled coil and support domestic prices.Companies with strong balance sheets and access to capital could drive a...Read More
Adjusted steel safeguard measures in Europe, combined with new trade cases, will limit availability of imported hot-rolled coil and support domestic prices. The latest changes, however, are not the end to the protectionist measures in the EU.Please click on the thumbnail below to download this free special report.Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Thursday July 23, due to the seasonal market slowdown, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?407.69 ($471.19) per tonne on Thursday, up by just ?,?0.01 per tonne from ?,?407.68 per tonne on July 22.Thursday's index was b...Read More
The price for steel reinforcing bar in the United States held firm week on week on steady demand from the construction end market, market participants said.US marketFastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US held at $28 per hundredweight ($560 per short ton) on Wednesday July 22, unchanged after falling to this level on July 15."It seems to have stalled...Read More
Steel billet Import prices increased in Egypt in the week to Thursday July 23 because of higher offers and despite weak demand, sources told Fastmarkets.CIS-origin billet was offered this week at $405-410 per tonne cfr, and buyers said that $380 per tonne cfr was likely to be a workable price for the material. However, CIS sellers did not accept the low-priced bids. ...Read More
Domestic long steel prices in Turkey have increased over the past seven days because of the recent upturn in steel scrap values, sources said on Thursday July 23.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey was 3,490-3,520 lira ($510-515) per tonne on Thursday, up from 3,400-3,480 lira per tonne, including 18% VAT, week on week.Mills were encouraged t...Read More
Turkish steel mills have continued to book deep-sea scrap cargoes for August shipment with improving prices, sources said on Thursday July 23.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 18,000 tonnes of HMS 1&2 (95:5) at $275 per tonne cfr on Thursday.Another steel mill in Turkey booked a US cargo, comprising 7,000 tonnes of HMS 1&2 (80:20) at $270 per...Read More
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
Seaborne iron ore prices were largely rangebound on Thursday July 23 with political tensions rising between the United States and China, according to trade sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $110.12 per tonne, down by $0.83 per tonne.62% Fe low-alumina fines, cfr Qingdao: $112.80 per tonne, down by $0.04 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $99.57 per...Read More
Turkish steel billet prices have increased over the past week in line with rising scrap costs and tightening supply in the Commonwealth of Independent States (CIS) region, sources said on Thursday July 23.Fastmarkets' weekly price assessment for steel billet, import, cfr main port Turkey, was $395-405 per tonne on Thursday, up from last week's $380-390 per tonne.The suppliers in the CIS region rai...Read More
Jan Nieuwenhuijs, VOIMAThree elements cause physical delivery on the COMEX to have reached record highs this year: strong demand for futures in New York, a persisting spread between the price of futures in New York versus spot gold in London, and arbitrage.Physical delivery on the largest gold futures exchange in the world, the COMEX in New York, has reached all time highs this year. In June mor...Read More
The purpose of this update is to celebrate and mark silver's powerful breakout from a giant base pattern that started to form as far back as 2013 - 2014, a breakout which has only happened during the past 2 days, yesterday and today, with today's advance finally seeing it break clear above the resistance at the upper limits of the base pattern. While this doesn't mean it can't drop back again it...Read More
By: Gary SavageGold has left behind the resistance zone from 2011, we will likely see all-time highs acting as a magnet pulling the price higher: https://blog.smartmoneytrackerpremium.com/Read More