Here are five Fastmarkets stories you might have missed on Monday May 18 that are worth another look.The departure of the chief executive officer of Tata Steel Netherlands, Theo Henrar, will result in job losses at the company's operations in the country, trade union FNV Metaal said on May 18.How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now...Read More

Following initial research and consultation with market participants, Fastmarkets proposes to launch a weekly price assessment for tantalum concentrate.The introduction of a price assessment for tantalite, basis 25% Ta2O5, ex-works China, will expand Fastmarkets' current price coverage of raw materials.Tantalum prices have found support in the past two months from supply tightness and concerns abo...Read More

Here are five Fastmarkets stories you might have missed on Monday May 18 that are worth another look.The departure of the chief executive officer of Tata Steel Netherlands, Theo Henrar, will result in job losses at the company's operations in the country, trade union FNV Metaal said on May 18.How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now...Read More

The deep-sea scrap import market in Turkey was quiet and prices stable on Monday May 18, with the country's major cities under lockdown due to the Covid-19 pandemic until Tuesday night, May 19, sources said.Overall demand for deep-sea scrap is slow because of both the pandemic and the Islamic holy month of Ramadan, when steel trade traditionally slows in Muslim countries. "Turkish steel mills are...Read More

Turkish domestic auto bundle scrap prices inched up over the past week following slightly better market demand, sources said on Monday May 18.Several steel mills in the Izmir region increased their buy prices for auto bundle scrap, while some mills have been resuming or increasing production after a break because of the Covid-19 outbreak, which also increased demand for scrap.Long steel mills IDC...Read More

While backward-looking economic data continues to show how deep the global contraction has been, markets seem focused on the recovery this morning, Monday May 18, as more economies open up and plan to reopen in the weeks ahead. The base metals on the London Metal Exchange are up across the board, all the base metals with the exception of July nickel are up on the Shanghai Futures Exchange and Asia...Read More

Cobalt hydroxide payables rose slightly late last week, with sellers receiving more inquiries, although a stand-off in negotiations saw limited spot trades concluded in the second half of the week. Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China, edged up to 62-64.5% of the standard-grade cobalt price on Friday May 15, compared with 62-64% at the midweek assessment. Some Chi...Read More

Gold prices jumped to a seven-year high this morning following bleak economic data last week and grim second-quarter U.S. GDP forecasts.At last look, gold was sitting at $1,755 an ounce, but rising concerns over global inflation have positioned the yellow metal for a breakout that could take prices screaming higher.Bank of America is already expecting $3,000 gold. Others are predicting prices to t...Read More

Here are five Fastmarkets stories you might have missed on Monday May 18 that are worth another look.The departure of the chief executive officer of Tata Steel Netherlands, Theo Henrar, will result in job losses at the company's operations in the country, trade union FNV Metaal said on May 18.How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now...Read More

German steelmaker Thyssenkrupp is seeking a partner to consolidate its loss-making steel business, sources told Fastmarkets on Monday May 18.The company was reported to have started negotiations with a number of companies over the sale of a share in its steel business.Thyssenkrupp neither confirmed nor denied this information."No further comment at this moment," a spokesperson for Thyssenkrupp sai...Read More

Domestic prices for hot-rolled coil in Northern Europe have moved down again due to limited trading activity, sources told Fastmarkets on Monday May 18.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?410.00 ($443.42) per tonne on Monday, down by ?,?1.88 per tonne from ?,?411.88 per tonne on May 15.Monday's index was calculated based on "workable" prices and bi...Read More

The price of steel rebar in Russia's Central Federal District around Moscow was stable to slightly lower week on week on Monday May 18 while buying started to recover slowly, sources told Fastmarkets.Trading activity in the steel rebar market in the region has started to improve slowly following the gradual restart of the key rebar consumption sector - the construction industry - last week."Some c...Read More

Rebar buyers in Singapore are expecting a slow start to trading in the spot market once the government starts to lift Covid-19 over the next few weeks.About 20,000 construction workers will resume work gradually at infrastructure projects deemed to be critical, or at sites that need work to continue for safety reasons, according to Singapore's Building and Construction Authority (BCA). They will j...Read More

China's steel rebar prices increased in both the domestic and export markets on Monday May 18 due to rising production costs, Fastmarkets was told.Domestic Eastern China (Shanghai): 3,530-3,560 yuan ($496-500) per tonne, up by 70 yuan per tonneRaw materials' prices moved up in the past two weeks, pushing up rebar mills' production costs and supporting rebar prices in the spot market, sources said....Read More

TECHNICAL SCOOPCharts and commentary by David ChapmanChief Strategist, Enriched Investing Inc.Phone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12May 18, 2020 "The pandemic has morphed into an economic crisis far greater than the Great Recession of 2008, because major Western governments' response to the coronavirus was late, especially in the U.S. w...Read More

By Clint SiegnerNervous investors have been pouring into the gold and silver markets over the past two months.Money Metals Exchange is proud to have helped almost 20,000 new customers with a precious metals purchase in recent weeks, many of whom came over from other dealers struggling with inventory shortages and ridiculous delivery delays.A new wave of investors is getting the message; the Fede...Read More

Strengths? The best performing precious metal was silver, up 7.30 percent. Gold had a strong week and held above $1,700 an ounce. Bullion rose the most in a week on Wednesday after Fed Chairman Jerome Powell said that the U.S. economy is facing unprecedented downside risks that could do lasting damage. Powell pushed legislators to take more action to support the economy. The poss...Read More

Dear Friend of GATA and Gold:GATA today asked the U.S. Commodity Futures Trading Commission whether it has ever audited the gold reported to it by the New York Commodities Exchange as being eligible or registered for sale and delivery on the exchange.In a letter to commission Chairman Heath P. Tarbert, your secretary/treasurer and GATA consultant Harvey Organ wrote:"Recent turmoil in the gold ma...Read More

Gold, silver, copper and crude oil are all very bullish. Gold can rise to $1800+ by tomorrow if the rise continues. Silver can break past $20.00+ if the rise continues. Crude oil will if it floats over $30.00 this week will rise to $37.60 and more. Copper is bullish as long as it trades over $228. Speculation of negative interest rates by the bank of England will only increase the pace of rise o...Read More

How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now.Could the world's major economic regions be in for an "LUV" recovery similar to the one they saw after the global financial crisis of 2008-09?That was the format of recovery that was expected in 2009 by former Rio Tinto chief executive officer Tom Albanese, who was at the helm of the mining g...Read More