Prices for steel billet in Southeast Asia remained largely rangebound over the last week amid poor demand, but fresh bookings to China are likely to now push prices higher, sources told Fastmarkets.Fastmarkets' daily price assessment for steel billet, import, cfr Southeast Asia, which mainly looks at 120-150mm 5sp grade billet sold into the Philippines, was $435-440 per tonne on August 20, up from...Read More
China's domestic stainless steel prices rose for an eighth week reach their highest since February 19, while export prices too have risen to levels not seen since late last year.A weakening of the US dollar pushed up prices for commodities, including nickel, which then drove up stainless steel prices, an industry analyst in Shanghai said.The three-month nickel contract on the London Metal Exchange...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.US market at risk of slidingPrices for pipe products were at a floor in the United States in mid-August, and have been broadly stable at that level since the start of the second quarter, but they are at risk of declining further in the coming months.Drilling rig counts have yet to find a floor and have fallen below most esti...Read More
Do precious metals still represent good value?With gold justcoming off a new all-time high above $2,000/oz and silverhaving more than doubled off its March bottom, some investors may be wary ofentering these markets right now.However, when adjusted for inflation, whenmeasured against the stock market, or when compared to total money supply, astrong case can be made that gold is not yet overvalued...Read More
Prices for domestic and imported rebar in the United States were stable on Wednesday August 19, with market participants expecting prices to remain unchanged heading into late summer.US marketFastmarkets' assessment for steel reinforcing bar (rebar), fob mill US was unchanged at $28 per hundredweight ($560 per short ton) on Wednesday August 19.According to one trader, domestic prices should remain...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 20 that are worth another look.The domestic hot-rolled coil price in Northern Europe moved up on August 20, following producers' bullish pricing policy, sources told Fastmarkets.China's domestic stainless steel prices rose for an eighth...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.US market at risk of slidingPrices for pipe products were at a floor in the United States in mid-August, and have been broadly stable at that level since the start of the second quarter, but they are at risk of declining further in the coming months.Drilling rig counts have yet to find a floor and have fallen below most esti...Read More
The three-month price of copper on the London Metal Exchange was the underperformer at the close of trading on Thursday August 20, with the price holding above nearby support despite losing more than 1.2% over the day.Meanwhile, zinc futures struggled to hold ground above the $2,500-per-tonne threshold.Copper's outright price on the LME closed at $6,601.50 per tonne on Thursday afternoon, falling...Read More
Turkish steel producers continued to stay out of the deep-sea scrap market on Thursday August 20, due to continuing weak demand in the domestic and export finished long steel markets, sources told Fastmarkets.Having booked some US and Baltic Sea cargoes at $285 per tonne cfr for HMS 1&2 (80:20) on August 7, mills in Turkey paused their deep-sea activity due the l...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 20 that are worth another look.The domestic hot-rolled coil price in Northern Europe moved up on August 20, following producers' bullish pricing policy, sources told Fastmarkets.China's domestic stainless steel prices rose for an eighth...Read More
Brazilian steel slab producer Companhia Sider??rgica do Pec?(C)m (CSP) has named Marcelo Botelho as its chief executive officer, it said on Wednesday August 19.He replaces Cl??udio Bastos, who had been in the position since February 2018. Bastos will take up a position in Brazil-based miner Vale, which is one of CSP's...Read More
The forecasted pullback is clearly well underway. Silver's 200-day is at $18 and rising, but watch $23. A sharp move below there, and watch for $19...by David Brady via Sprott MoneyToday's article will be relatively simple and straightforward. At the risk of repeating what I've said since June 6, the forecasted pullback is clearly well underway. The only question that matters now is where the low...Read More
How long will it take them to understand that the price manipulation GAME IS ENDING and it will all come down to Who Holds the Physical?!by Bix Weir of Road to RootaSilver is scarce. Very Scarce and the Silver Users know it. How long will it take them to understand that the price manipulation GAME IS ENDING and it will all come down to Who Holds the Physical?!Read More
Volatility in Gold & Silver has spiked significantly over the last month, yet few commentators have actually offered an explanation as to why...John Lee interviewed by Chris Marcus on Arcadia EconomicsThe volatility in the gold and silver markets has spiked significantly over the last month.And while few commentators have actually offered an explanation as to why that's happening, John Lee of Silv...Read More
The three-month price of copper on the London Metal Exchange was the underperformer at the close of trading on Thursday August 20, with the price holding above nearby support despite losing more than 1.2% over the day.Meanwhile, zinc futures struggled to hold ground above the $2,500-per-tonne threshold.Copper's outright price on the LME closed at $6,601.50 per tonne on Thursday afternoon, falling...Read More
The seaborne premium hard coking coal fob index edged up on Thursday August 20 due to the bullish market sentiment from India, while Chinese participants, however, still feel trapped by a lack of coking coal import quotas, Fastmarkets heard.Fastmarkets indices Premium hard coking coal, fob DBCT: $104.17 per tonne, up $0.61 per tonne Premium hard coking coal, cfr Jingtang: $114.60 per tonne, up $...Read More
Seaborne iron ore prices were largely stable on Thursday August 20 in a much calmer market than the previous three days of trading, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $129.32 per tonne, up $0.23 per tonne 62% Fe low-alumina fines, cfr Qingdao: $128.59 per tonne, up $0.20 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $114.95 per tonne, up $0.4...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.US market at risk of slidingPrices for pipe products were at a floor in the United States in mid-August, and have been broadly stable at that level since the start of the second quarter, but they are at risk of declining further in the coming months.Drilling rig counts have yet to find a floor and have fallen below most esti...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.There has been an increasing bullishness in Chinese steel market sentiment recently, with rising post-Covid-19 optimism about the country's economy for the second half of 2020, especially after the government announced an infrastructure spending boost. Although we believe that high prices are justified, they remain far from...Read More
RAPAPORT... De Beers has reduced prices of rough larger than 1 carat ahead of next week's sight amid a gradual improvement in demand and shortages in certain categories, sources told Rapaport News. The reductions were around 6% to 8%, according to sightholders and other industry insiders who spoke with Rapaport News Thursday. "Very few people have seen their goods and received their prices, b...Read More