The announcement of a 1.529 billion yuan ($233.6 million) limited partnership agreement between major Chinese manganese miners and traders has left many in the market weighing up the significance of such a move.South Manganese Investment, formerly Citic Dameng Holdings, entered into a limited partnership agreement with 10 participants involved in manganese mining and trading, according to a notice...Read More
Bangladeshi steelmakers have continued to book United States-origin deep-sea scrap cargoes over the last week, with prices moving up slightly, sources told Fastmarkets on Thursday April 8.A Bangladeshi mill bought two cargoes of 30,000 tonnes from the US West Coast at an average price of $465 per tonne cfr for a composite cargo of heavy melting scrap 1&2 (80:20) and shredded scrap last week, Fastm...Read More
Turkish steel mills continued with their deep-sea scrap purchases for May shipments at steady prices on Thursday April 8, sources told Fastmarkets.A steel mill in the Iskenderun region booked a US cargo, comprising 32,000 tonnes of HMS 1&2 (80:20) at $433 per tonne, 3,000 tonnes of shredded at $438 per tonne and 3,000 tonnes of bonus scrap at $443 per tonne cfr.A steel mill in the Izmir region boo...Read More
The import price for heavy scrap (HS) into China stabilized on Thursday April 8 due to softer downstream steel markets, although importers were still actively seeking cargoes, sources told Fastmarkets.Fastmarkets' daily price assessment for steel scrap, heavy recycled steel materials, cfr China was unchanged at $475-480 per tonne on Thursday. Major steel product prices dropped in China's domestic...Read More
Canada-headquartered zinc producer Trevali Mining signed a 15-year power supply agreement with Emerging Markets Energy Services (Emesco) for its Rosh Pinah mine in Namibia, the company said on Wednesday April 7.The deal is part of the miner's efforts to reduce greenhouse gas (GHG) emissions by 25% from 2018 until 2025. This particular agreement, according to the company, will contribute with a 6%...Read More
Michael Insulan has joined First Cobalt as vice president, commercial, tasked with advancing the company's offtake strategy and the marketing of its refinery's cobalt sulfate production to electric vehicle (EV) manufacturers and battery cell makers. Based in Europe, Insulan was most recently at a senior market analyst at cobalt producer Eurasian Resources Group. He has previously held roles at CRU...Read More
When I lived in Baltimore, I would often take the train to New York City.It was cheap, relatively fast, and very relaxing.But I've always found train rides relaxing.I'm not sure if it's the rocking back and forth or the rumble of the tracks, but on many occasions, I've had to be woken up by the conductor after arriving at my stop.I also love the trains in Europe - particularly the high-speed rail...Read More
Domestic prices for European heavy steel plate increased again in the week to Wednesday April 7, supported by higher slab costs and lower supply for spot buyers, sources told Fastmarkets.Steelmakers have also been targeting further price increases, sources said.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe was ?,?740-760 ($879-903) per tonne on April 7,...Read More
The uptrend in Europe's hot-rolled coil market continued on Thursday April 8, with prices supported by a persistent lack of material, while ArcelorMittal has increased offer prices again, Fastmarkets heard. Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe at ?,?895 ($1,065.41) per tonne on April 8, up by ?,?1 per tonne from ?,?894 per tonne on Wednesday Ap...Read More
The European Commission (EC) will terminate the anti-subsidy investigation into hot-rolled coil (HRC) from Turkey without imposing duties, according to a letter sent from the EC to the interested parties on April 7 and seen by Fastmarkets.This decision, however, will come into force only after the Official Journal of the European Union is published, Fastmarkets understands.In February 2021, t...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 8 that are worth another look.The European Union's second-quarter quota for steel imports opened just one week ago, and some long steel suppliers have already used a large portion of their allocations, with sources expecting long steel volumes to be absorbed very quickly,...Read More
The European Union's second-quarter quota for steel imports opened just one week ago, and some long steel suppliers have already used a large portion of their allocations, with sources expecting long steel volumes to be absorbed very quickly, thus depriving European customers of diverse supply options,Fastmarkets understands.Russia Russian mills have already consumed about 80-90% of both thei...Read More
Market participants in Egypt continued to wait for the easing of construction regulations, leaving rebar prices unchanged since 2020, sources told Fastmarkets on Thursday, April 8.Demand for rebar in the country has remained weak since the imposition of a construction ban in May 2020 and has stayed that way despite a slight relaxation of the rules in September 2020.The Egyptian government is expec...Read More
Hybrit, the joint venture involving Swedish steelmaker SSAB, iron-ore producer LKAB and power company Vattenfall, will build a hydrogen storage facility as part of its plans for fossil-free steel production, it announced on Wednesday April 7. Hybrit will build a rock cavern storage facility for fossil-free hydrogen gas next to its pilot facility for direct reduction in Lule??, Sweden.The inve...Read More
Bangladeshi steelmakers have continued to book United States-origin deep-sea scrap cargoes over the last week, with prices moving up slightly, sources told Fastmarkets on Thursday April 8.A Bangladeshi mill bought two cargoes of 30,000 tonnes from the US West Coast at an average price of $465 per tonne cfr for a composite cargo of heavy melting scrap 1&2 (80:20) and shredded scrap last week, Fastm...Read More
Turkish steel mills continued with their deep-sea scrap purchases for May shipments at steady prices on Thursday April 8, sources told Fastmarkets.A steel mill in the Iskenderun region booked a US cargo, comprising 32,000 tonnes of HMS 1&2 (80:20) at $433 per tonne, 3,000 tonnes of shredded at $438 per tonne and 3,000 tonnes of bonus scrap at $443 per tonne cfr.A steel mill in the Izmir region boo...Read More
In today's bumper episode of the GoldSilver.com show:- The War On Cash accelerates.- A major silver producer holds back production, waiting for higher prices.- A central bank massively increases their gold reserves.- A precious metals mint has problems supplying product to customers.Michael Maloney is a precious metals investment expert and historian. He is the founder and owner of GoldSilver.com,...Read More
Gerald Celente, publisher of the Trends Journal, speaks with our Daniela Cambone about the current economic recovery plan. "It's all going to come crashing down," he warns in this interview with Stansberry Investor. Gerald Celente is a pioneer trend strategist and founder of The Trends Research Institute. He is the author of the national bestseller Trends 2000: How to Prepare for and Profit from t...Read More
Blog: https://www.itmtrading.com/blog/hidin...Lynette Zang has held the position of Chief Market Analyst at ITM Trading since 2002. Ms. Zang has been in the markets on some level since 1964. Her mission is to convert financial noise into understandable language. She has been a banker, a stock broker and studied world currencies since 1987. She believes strongly that we need to be as independent as...Read More
Market maker Todd "Bubba" Horwitz was one of the original market makers in the SPX Trading Pit at the Chicago Board of Options Exchange. Now he sees a financial meltdown coming which could be triggered by rising rates.0:00?EUR< Intro0:51?EUR< Shorting metals3:26?EUR< Holding physical metals5:56?EUR< Silver is not GameStop9:33?EUR< Stock market12:43?EUR< Crash coming14:36?EUR< Stimulus to infinity?...Read More