Domestic prices for ferrous scrap in Italy moved down slightly in the month to Tuesday August 11, with demand for the raw material reduced by scheduled maintenance outages during the month.Most Italian steel producers stopped production for summer maintenance work in August, but some have changed their schedules this year and planned shorter stoppages with demand recovering from the Covid-19-relat...Read More

Turkish steel producers have slowed down their deep-sea scrap purchasing, after the domestic long steel market was affected by the weakening of the country's lira, sources said on Tuesday August 11.Mills in Turkey booked a number of cargoes last week, with the most recent transactions for material from the US and Baltic Sea at $285 per tonne cfr for HMS 1&2 (80:20).But the mills then paused their...Read More

Prices for steel billet imported to Southeast Asia rose over the last seven days with mills in the region forced to keep pace with Chinese consumers, market participants told Fastmarkets on Tuesday August 11.Southeast Asia import billet prices had flatlined in the June-July period, but a resurgence of purchasing in China over the last month has inflated offer prices in the region,.At least one re-...Read More

The term ‘unprecedented’ has been used to explain 2020 throughout the world. Whether it be the simultaneous triple bubble that is currently being experienced within equity, bond, and real estate markets, or the volume of quantitative easing deployed by central banks in order to combat Covid-19, 2020 has been an unprecedented year thus far to say the least. Safety and stability of capit...Read More

Tonight I would like to go over some PM charts looking for a possible place for our current impulse move to find some strong resistance that could lead to the next consolidation phase. It’s not going to be easy as there are several possibilities that could work. Lets put the Chartology to work and see what we come up with.There was something fairly rare last week that happened to gold which...Read More

Canadians, at least thosefortunate enough to enjoy a long weekend, returned to their desks Tuesdayto watch gold prices crack another milestone - $2,000 per ounce - as thespectacular summer rally for the precious metal continues. At time of writing, spotgold’s last bid was $2,019.20, marking a $42 gain since Monday’s tradingsession. Silver prices also experienced a major leg u...Read More

Here are five Fastmarkets stories you might have missed on Monday August 10 that are worth another look.Production activity has come under threat at Belarus Steel Works (BMZ) with workers protesting against the result of the country's presidential election on Sunday August 9.Liberty House Group,...Read More

Steel market participants anticipate China's "dual circulation" policy will to boost steel demand for the remainder of 2020, with the more self-reliant economic model aiming to offset slowdowns caused by the Covid-19 pandemic and US-China political tensions. Chinese President Xi Jinping announced in late July that China will focus on a "dual circulation" development model, which ensures a more sel...Read More

Fastmarkets is proud to launch its first monthly Ferrous Analytics report, which will help subscribers keep track of hot metal costs and steel production spreads in China, as well as key pricing components of the steelmaking raw materials supply chain in Asia.Readers will find raw material-finished steel spreads, iron ore differentials and scrap differentials all calculated and condensed...Read More

Here are five Fastmarkets stories you might have missed on Tuesday August 11 that are worth another look.China is turning to mergers, acquisitions and mine shutdowns to maintain its drive toward energy reform and the use of fewer fossil fuel resources.Zinc premiums in Singapore and Malaysia...Read More

Ferrous scrap prices in the Mexican steelmaking regions of Monterrey and Baj?-o increased week on week because of continued improvement in demand.Many market participants reported average price increases of 200 pesos ($8.91) per tonne for most grades of scrap during the week ended Friday August 7, while other, less common price increases were reported in the range of 150-400 pesos ($6.68-17.82) pe...Read More

A summary of base metals premiums from across the globe for the week to Tuesday August 11.Please click...Read More

After a consultation period, Fastmarkets will amend the specifications of its hot-dipped galvanized steel import price assessment, cfr South America, with effect from Friday August 14.The consultation ran from July 14 to August 11 and laid out Fastmarkets' proposal to change the thickness specification in the price assessment for steel hot-dipped galvanized coil, import, cfr main ports South Ameri...Read More

Here are five Fastmarkets stories you might have missed on Tuesday August 11 that are worth another look.China is turning to mergers, acquisitions and mine shutdowns to maintain its drive toward energy reform and the use of fewer fossil fuel resources.Zinc premiums in Singapore and Malaysia...Read More

Sometimes it is better to let a situation speak for itself. Alcoa, Rio Tinto Aluminium, Novelis, Constellium, Arconic, Kaiser Aluminum, Tri-Arrows Aluminum, American Metal Chemical Corp, Hydro Extrusion North America, JW Aluminum, Real Alloy, Reynolds Consumer Products, Scepter, Silberline Manufacturing Co, Smelter Service Corp and Wagstaff. The US Aluminum Association, which represents more than...Read More

And, BAM! Just like that, silver sells for $29...by Keith Weiner of Monetary-MetalsAnd, *bam!* Just like that, silver sells for $29.It seems so simple, so obvious, so black-and-white. Seeing the price chart in recent weeks, you wouldn't know that silver speculators have been waiting for this moment since March, 2013 (when silver crossed the $29 line to the downside, and has not looked back until n...Read More

The helicopter sits idle, because politicians just can't bring themselves to dropping some crumbs on the proles until the hunger pangs really kick in...*****UPDATE 19:23 TUESDAY, AUGUST 11TH, 2020Check this out:If you have extra coins at home, please use them to make purchases- or deposit them at the bank or exchange them for cash. Help get coins moving! ???????,- Steven Mnuchin (@stevenmnuchin1)...Read More

Zinc premiums in Singapore and Malaysia have dropped to their lowest annual level - and since Fastmarkets began assessing the market - while stocks begin to pile up in regional warehouses, trading sources said.Fastmarkets assessed the zinc SHG 99.995% ingot premium, fca Singapore at $85-95 per tonne on Tuesday August 11, down from $90-100 per tonne the week previously and $100-110 per tonne at the...Read More

The shorts continue to pile on, and it does seem they are stressed...submitted by J. Johnson via JS MinesetGreat and Wonderful Monday Morning Folks, Nothing starts a Monday off better than a strong-precious-metals move higher with December Gold at $2,038.70, up $10.70 after reaching $2,047.50 with the low at $2,018.90. Silver leads the percentages with the September trade at $28.31 up...Read More

The three-month price of lead on the London Metal Exchange was the standout performer at the close of trading on Tuesday August 11, climbing by 3% and breaking past nearby resistance, while a continued uptick in producer inflation from the US further supported buying momentum in the afternoon.Lead's outright price on the LME closed at $1,960.50 per tonne on Tuesday afternoon, recovering from an in...Read More