The Chinese spot market for battery-grade lithium carbonate held steady in the week to Thursday July 23 on improved downstream demand and firm industrial-grade carbonate prices. China's battery-grade lithium carbonate prices were stable on improved demandIndustrial-grade lithium carbonate prices remained firm in ChinaPrices were unchanged in China's lithium hydroxide marketAsian battery-grade lith...Read More
In 20 years of researching, investing, writing, and talking about gold, there's one question I've been asked more than any other...What about silver?I'm not sure if that's exactly irony. But... it's something.Nevertheless, it makes sense that in talking about gold, people would ask about silver. Gold and silver are certainly related. And silver is priced much lower than gold - meaning a potentiall...Read More
We spoke with Golden Valley Mines' (TSX-V:GZZ) Chairman of the Board, President, and Chief Executive Officer, Glenn Mullan. Golden Valley Mines is a junior exploration company that has shares of Abitibi Royalties, Val-d'Or Mining Corporation, and International Prospect Ventures. They also have Joint Ventured with many companies that have left Golden Valley with Net Smelter Return (NSR) Royalties o...Read More
The majority of South American import prices for flat-rolled steel went up during the week to Friday July 24 with new offers getting more expensive and lower bids from customers being rejected.Importers, on the other hand, were increasingly looking elsewhere for their steel product needs, because their tentative buying prices were not accepted. Market participants were reporting more deals for Bra...Read More
Turkish prices in the domestic market for hot-dipped galvanized coil (HDG) and color-coated coil increased in the week to Friday July 24, supported by higher feedstock prices, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Turkey, was $610-625 per tonne on July 24, up by $5-15 per tonne over the week from $605-610 per tonne on July 17.And Fastmarket...Read More
Domestic prices for both hot-rolled coil and cold-rolled coil in Turkey have increased over the week to Friday July 24, supported by higher raw material costs, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel HRC, domestic, exw Turkey, was $450-460 per tonne on July 24, up by $10 per tonne week on week from $440-450 per tonne on July 17.The assessment was based on avera...Read More
ArcelorMittal M?(C)xico's integrated steel mill at L??zaro C??rdenas, in the country's western Michoac??n state, has been partly closed by local municipal officials because of alleged tax irregularities, the company said on Thursday July 23.The L??zaro C??rdenas city authorities claim that ArcelorMittal has failed to pay its full property taxes in the past six years, and have demanded payment of 1...Read More
Domestic steel rebar producers in Poland increased their prices as expected in the week to Friday July 24, although so far buyers have been reluctant to accept the new levels, sources told Fastmarkets.Buying activity started to slow this week due to the onset of the vacation season, sources said.The construction sector was still performing well in the country, but even however, things be...Read More
Ukrainian integrated steel producer ArcelorMittal Kryvyi Rih (AMKR) managed to show only a minor drop in its outputs of crude and finished steel in January-June 2020, despite the unfavorable conditions in the global steel markets due to the effects of Covid-19."In general, production of the main types of products was at 90-95% of the planned indicators. At the beginning of the second quarter, the...Read More
No activity was again reported in the United States' spot import pig iron market during the week ended Friday July 24, with pig iron prices still considered high compared with those for scrap and demand weak amid low utilization rates.Fastmarkets' weekly price assessment for pig iron, import, cfr Gulf of Mexico, US was $327-330 per tonne on Friday, widening downward from $330 per tonne a...Read More
Turkish steel mills stayed out of the deep-sea scrap market on Friday July 24, but still ended the week having booked around 248,000 tonnes of scrap, sources told Fastmarkets.Despite the quiet Friday, news emerged of a US cargo booked on Wednesday July 22, with a steel mill in the Iskenderun region making the booking at $269.50 per tonne cfr for HMS 1&2 (80:20). The cargo composition was not clear...Read More
The market for pig iron exports from the Commonwealth of Independent States (CIS) was firm during the week ended Thursday July 23, on continued demand in China and resumed interest in Turkey.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $319-324 per tonne on July 23, widening from $320-323 per tonne a week before.One sale of 60,000 tonn...Read More
Brazilian export prices for steel slab increased in the week ended Friday July 24, because demand was recovering amid tight material availability.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, was $380-390 per tonne on Friday, an increase of $5-10 per tonne from $375-380 per tonne in the previous week.Signs of a demand revival have appeared in...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort334,23767,80171,987129,690433,549535,914573,337Change from Prior Reporting Period 4,0322412,3913,7815,62220,20418,037Traders23067895771322198 Small Speculators LongShortOpen Interest 67,22429,801603,138 2,7594,92622,963 non reportable positionsChange from the previous reporting p...Read More
Gold prices surged over $1,900 an ounce on Friday morning -- up over 5% for the week.Gold could hit a new record high as early as today. However, it wouldn't necessarily be a bad thing if the market first pulled back a bit and established a base for its launch to $2,000 and above.https://silverseek.com/article/gold-hitting-all-time-highs-wow-look-silverRead More
We tend to spend a lot of time looking into the rearview mirror, especially when under duress.Connected to this is something psychologists call "recency bias." This simply means that what has happened in the near to intermediate past tends to inform and influence us as to how we should behave in the future.https://silverseek.com/article/gold-and-silver-markets-have-changed-what-about-youRead More
Offer prices for steel billet imported into Southeast Asia have risen sharply over the past week despite more stable prices for cargoes sold into China, market participants told Fastmarkets on Friday July 24.Chinese steel mills have continued to procure imports of billet over the past week but, unlike the preceding seven days, sales prices have stopped rising and have instead settled into a stable...Read More
Dear Friend of GATA and Gold:London metals trader Andrew Maguire, interviewed this week by the TF Metals Report's Craig Hemke for Sprott Money, says the London Metal Exchange soon will offer a gold contract much more closely tied to physical delivery than competing contracts, putting heavy pressure on the "paper gold" system.Maguire also says:-- The gold/silver ratio will reduce to 63-1 and then...Read More
By: Ira EpsteinGold's 18-dma moving up nicely, a very hard break higher. Read More