Here are five Fastmarkets stories you might have missed on Thursday June 25 that are worth another look.Striking workers have put all industrial action at Tata Steel IJmuiden on hold until Friday June 26 to negotiate with management, Dutch trade union FNV Metaal said this week.Demand for copper in Europe is weak and economies are struggling to restart after coronavirus-related lockdowns, forcing c...Read More

David Haggith Look at the plethora of problems in my list of 2020 economic predictions, which are so severe and so likely to get even worse that it's more difficult to imagine they won't get worse than to believe they will. Some are so bad that just a few of them would plunge us into an abyss of social and financial catastrophes.Here are my economic predictions for the remainder of 2020This...Read More

By: Chris MarcusThe majority of financial market participants were blindsided by the Federal Reserve's recent historic actions following the reported outbreak of the Corona virus.Yet for those who know about G. Edward Griffin and his legendary book "The Creature From Jekyll Island," the latest financial moves came as little surprise. As a result, they were prepared in advance.So to find out what...Read More

By Avi Gilburt, ElliottWaveTrader.netWhile many viewed unemployment, or the Covid virus, or the slowed GDP, or a myriad of other factors as reasons to believe the market is "dangerous," I propose that these four-letter words are more dangerous to your investment account than anything else:NEWS, BIAS, and HOPEYou see, many will turn to the news to determine which direction the market will move....Read More

By: Ira EpsteinSilver was a miserable failure trying to join the party. Gold as lots of resistance here but it does not mean that it will not break to the upside:Read More

The three-month price of lead on the London Metal Exchange continued its upward trajectory at the close of trading on Thursday June 25, closing more than 1% higher and topping gains across the base-metals complex.But a steady uptick in copper futures over the afternoon was not enough to breach nearby resistance.Lead's outright price on the LME closed at $1,786 per tonne on Thursday afternoon, near...Read More

Turkish steel producers returned to the deep-sea scrap market on Thursday June 25, attracted by lower prices, sources told Fastmarkets.A steel mill in the Osmaniye region booked a 27,500-tonne US cargo, comprising HMS 1&2 (80:20) at $261 per tonne, shredded at $266 per tonne and bonus scrap at $271 per tonne cfr. The cargo's composition was not clear at the time of publication.The previo...Read More

Key information from the pricing session for Fastmarkets' alumina index, fob Australia on Thursday June 25. Key drivers: The most recent deal concluded on a fob Gladstone, Australia, basis at $261 per tonne for 30,000 tonnes with loading in the second half of July.  A power outage at Hydro's Paragomias bauxite mine means production output at the Alunorte alumina refinery has been reduced to...Read More

Here are five Fastmarkets stories you might have missed on Thursday June 25 that are worth another look.Striking workers have put all industrial action at Tata Steel IJmuiden on hold until Friday June 26 to negotiate with management, Dutch trade union FNV Metaal said this week.Demand for copper in Europe is weak and economies are struggling to restart after coronavirus-related lockdowns, forcing c...Read More

Demand for copper in Europe is weak and economies are struggling to restart after coronavirus-related lockdowns, forcing copper producers to ship cathode to China instead. Chinese trading houses and copper product manufacturers told Fastmarkets that they were fielding a significant rise in offers of cathode produced in Spain and Germany, an unusual shift in traditional trade flows confirmed by Eur...Read More

The three-month price of lead on the London Metal Exchange continued its upward trajectory at the close of trading on Thursday June 25, closing more than 1% higher and topping gains across the base-metals complex.But a steady uptick in copper futures over the afternoon was not enough to breach nearby resistance.Lead's outright price on the LME closed at $1,786 per tonne on Thursday afternoon, near...Read More

The three-month lead price on the London Metal Exchange was the standout performer during morning trading on Thursday June 25, supported by a continued trend of stock withdrawals, while a steady incline in LME tin stocks softened the metal's wide backwardation. Lead's outright price on the LME was recently at $1,778.50 per tonne, climbing by just under 1% from Wednesday's closing price of $1,762 p...Read More

Broader markets were generally weaker this morning, Thursday June 25, with those equity markets that were open in the Asian-Pacific region mainly weaker by between 1% and 2%.Pre-market major western equity index futures were down this morning, following Wednesday's weakness. Gold prices hold up in high ground around $1,760 per oz.International Monetary Fund (IMF) cuts world growth forecast again,...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.The recent announcement about Vale's resumption of operations in Brazil, along with new concerns about a slump in demand because of heavy rainfall in China, has resulted in the end of the iron ore price rally. There has also been pressure from tight steel spreads, with the operating margins for Chinese steel mills shrinking...Read More

The Northern Miner has compiled a list of the top 10, Canadian headquartered base metal and uranium juniors - with no production and which are not a royalty or streaming company. The ranking is based on market capitalization as of mid-June.1. Ivanhoe MinesUS$3.4 billion market capitalizationFor the fourth year in a year, Ivanhoe Mines (TSX: IVN; US-OTC: IVPAF) retains its commanding position ato...Read More

An explosion at Russia's Wolfram Co JSC UZTM plant has temporarily halted tungsten production there, a source at the company told Fastmarkets. Production was suspended for three days following the accident that took place on the night of Tuesday June 23 and was expected to resume on Thursday June 25 with no major impact on production, the source said. The accident happened when the plant was melti...Read More

RAPAPORT... The Gemological Institute of America (GIA) will reopen its New York grading laboratory this Monday following a three-month shutdown due to the coronavirus."As restrictions are lifted and the global gem and jewelry industry begins to recover, we are safely reopening GIA locations, returning staff to work and preparing to engage in our mission-driven activities," GIA CEO Susan Jacqu...Read More

Market uncertainty continues as Covid-19 cases rise again. Polished trading limited, but increase in online searches indicates efforts to fill specific orders. Major jewelers investing in e-commerce to stimulate multichannel sales and ease inventory requirements. Chow Tai Fook sees recovery in mainland China and plans 2020 expansion in lower-tier cities. Manufacturers operating at reduced capacity...Read More

Domestic prices for hot-rolled coil in Northern Europe remained fairly stable on Thursday June 25 from the day before, although steelmakers were looking for a price rise, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?394.38 ($445.10) per tonne on June 25, up by only ?,?0.01 per tonne from ?,?394.37 per tonne on June 24.Thursday'...Read More

RAPAPORT... Belgium's diamond trade continued to decline in May, but at a gentler pace that in the previous month as global markets gradually reopened. Total imports and exports of rough and polished stones fell 81% year on year, compared with an 89% slump in April, according to data from the Antwerp World Diamond Centre (AWDC).While the coronavirus still impacted the sector, the improvement...Read More