If silver closes at $24.5-$25+, it would be ideal for a continued bullish move into August.Continue...Read More
I believe this will end up being the third great gold rally after the one in the 1970s and 2000s. Go gold!Continue...Read More
Brazilian slab export prices increased by $10 per tonne in the week ended Friday July 31, with offers up amid a revival in demand in most buying markets.Sellers were making offers and hoping to achieve deals at $400 per tonne fob, because many had comfortable lead times and were in no rush to book orders.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, reached $39...Read More
"Investors are being infantilized by the relentless Federal Reserve activity.""It's as if the Fed considers them foolish children, unable to rationally set the Continue...Read More
Bob Moriarty of 321gold profiles this explorer with a gold project in Ontario and a copper rich VMS deposit in Saskatchewan. Rockridge core sampleI suspect we have either started the correction I have been predicting or are about to. Silver spiked as it does every time it makes a temporary top as both metals show signs of schizophrenia not knowing just which direction to go in next.We have way to...Read More
European monthly grade-304 alloy steel surcharges for August have increased slightly from July's values because of higher nickel costs, Fastmarkets heard on Friday July 31.Fastmarkets' stainless steel cold-rolled sheet, 2mm, grade 304, alloy surcharge, domestic, Europe was calculated at ?,?1,345-1,367 ($1,586-1,612) per tonne on Friday, up by ?,?16-24 per tonne from the July range.The average nick...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Trading activity at a minimumWelded pipe trading activity has been slow globally over July 2020, and while the holiday-period slowdown is partly to blame in several countries, disruptions to projects caused by the Covid-19 pandemic were obviously the main cause. In this context, substrate costs were driving much of the prici...Read More
Last week, I put out an article outlining my expectation for a pullback in GLD before we head to the 200+ region. Within the comments section, I outlined my plan as to how I am going to play for a potential pullback. However, that pullback has not yet materialized.For those that have followed me closely for years, you know that I have been heavily long physical metals and mining stocks since I sta...Read More
Technical analyst Clive Maund charts oil and discusses what he sees ahead for the commodity. Compared to the wild volatility that we witnessed back in the spring, trading in oil has become very light and subdued, with volatility in it dropping to a very low level, and as a result many traders are losing interest in it. It is quiet—too quiet—and complacency towards it is now rife, but a...Read More
Flat-rolled steel import prices were up in South America this past week, with mills continuing to offer at higher levels and clients still getting ready to negotiate October-shipment cargoes.There were more price increases during the week, particularly from China, but most offers were either not directly presented to customers or not yet countered by them, market participants said."[The comin...Read More
Aluminium billet premiums inched up in the United States, Europe and Brazil on Friday July 31 due to stronger demand, while weak demand in Asia kept the Thailand billet premium unchanged.US premium up near nine-month highItaly, Germany premiums inch upBrazil premium up on gradual demand recoveryThailand premium holds in quiet conditionsUS premium climbsFastmarkets assessed the aluminium 6063 extru...Read More
Spot cobalt hydroxide prices rose above $10 per lb in July due to resumed appetites for prompt cargoes amid a limited availability of seaborne units and buyers' attempts to reduce exposure to price uncertainty.Fastmarkets' cobalt hydroxide index, Co min 30%, cif China was calculated at $10.41 per lb on Friday July 31, up 5.8% from $9.84 per lb at the end of June.Spot deals were concluded in the lo...Read More
An overview of the noble alloys markets andthe reasons for any price moves.Read More
For silver to remain in a bullish trend, it was necessary to hold a key support level. So, far... by Steve St Angelo of SRSrocco ReportWhile there is a lot of volatility in the silver price during early U.S. trading, where it closes today will likely set the trend for next month. For silver to remain in a bullish trend, it was necessary to hold a key support level during Asian trading last nig...Read More
The three-month zinc price on the London Metal Exchange was the standout performer at the close of trading on Friday July 31, breaching nearby resistance in a continued incline over the day, while sideways trading in LME copper futures kept the metal's outright price firmly near the $6,400 per tonne threshold. Zinc's outright price on the LME closed at $2,318.50 per tonne on Friday afternoon, with...Read More
There was strong demand in London Metal Exchange zinc during the Asia trading hours on Friday July 31, causing the three-month price to rise by 1.3%, while an easing of LME tin's forward curve prompted similar buying momentum over the morning. Zinc's outright price on the LME was recently at $2,320 per tonne, breaking through nearby resistance and improving from Thursday's closing price of $2,286....Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Trading activity at a minimumWelded pipe trading activity has been slow globally over July 2020, and while the holiday-period slowdown is partly to blame in several countries, disruptions to projects caused by the Covid-19 pandemic were obviously the main cause. In this context, substrate costs were driving much of the prici...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Global markets for coated steel continue to run at different speeds with regards to pricing at the start of the summer season in the northern hemisphere. In Asia, prices continue to rise although, as we note in our Asia analysis this month, much of this is merely cost inflation with steelmakers passing on higher substrate cos...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This year has come with several unexpected events which increased the bullish case for iron ore prices, while the Chinese government's spending on infrastructure is likely to boost iron ore demand and add upside support to prices. But supply disruptions and a demand surge which caused price spikes are now easing. We do not e...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Trading activity at a minimumWelded pipe trading activity has been slow globally over July 2020, and while the holiday-period slowdown is partly to blame in several countries, disruptions to projects caused by the Covid-19 pandemic were obviously the main cause. In this context, substrate costs were driving much of the prici...Read More