The prices paid for steel scrap by mills in Turkey and Asia have moved up over the week ending Friday July 17, against a backdrop of stronger Chinese prices for iron ore and steel.Turkish steel producers continue to book deep-sea scrap at progressively higher prices through the weekUS East Coast market activity increased after new sales to TurkeyVietnamese scrap demand was supported by a surge in...Read More
Turkish steel producers continued their deep-sea scrap purchases at the end of the week at slightly higher prices, sources told Fastmarkets on Friday July 17.A steel mill in Northern Turkey booked a Baltic Sea cargo, comprising 8,000 tonnes of HMS 1&2 (80:20) at $260 per tonne, 14,000 tonnes of shredded at $265 per tonne and 4,000 tonnes of bonus at $270 per tonne cfr.Another steel mill in the Izm...Read More
KENORA - The Ontario government is investing $625 million to expand and improve highways, roads and bridges across Northern Ontario. These road enhancement projects will make travel easier and safer for families, while supporting economic growth and job creation in local communities."Our government is committed to making investments in our northern highways to reduce congestion, make our roads saf...Read More
The price of ferrous scrap imported into India in containers remained firm on Friday July 17 because of restricted material supply, sources have told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $281.46 per tonne on July 17, up from $279.17 per tonne a week earlier.No deals were heard on the market this week, although offers were in the ra...Read More
Markets were mixed across the board this morning, Friday July 17, while traders consolidate recent gains - key will be how well prices manage to hold up.The base metals traded on the London Metal Exchange were all down, but only by an average of 0.3%, while the base metals on the Shanghai Futures Exchange were mixed, but down by an average of 0.2% An European Union summit is underway today to try...Read More
Share this articleCALGARY - Despite negative impacts of the COVID-19 pandemic on production and costs, rising prices for gold are expected to buoy results as Canada's precious metals miners begin rolling out second-quarter financial results next week.In the three months ended June 30, the average gold price was US$1,713 per ounce, up eight per cent over the first quarter, said RBC Capital Mark...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
In a recent Kitco editorial, writer Lobo Tiggre asks, "What if gold really does go to $5,000 or $10,000 an ounce?"Good question.Tiggre answers by speculating on how the world might look in an environment with $5,000 or $10,000 gold. As you might expect, he notes that such prices would be accompanied by high levels of economic, political, and social uncertainty -- which may have resulted in hyper...Read More
The European and US battery grade lithium carbonate price fell by 2.9% week on week on Thursday July 16 amid continued demand weakness, while Chinese prices consolidated the previous week's losses.The European and US lithium carbonate price fell on the top end of the range after buyers resisted higher offers. China's battery-grade lithium prices stabilized after a fall last week. China's industria...Read More
In this week's Insights newsletter, we look at the roaring Venture market and the role that American helicopter money is likely to play in markets going forward. Our clip of the week features a junior miner that has exploded on the upside since our July 3rd report and our insider of the week is the CEO of a battery metals stock that is been on a charge since we first wrote about it. Click here to...Read More
Key data from the pricing session in Shanghai on Friday July 17. Key drivers The cobalt metal price in China retreated slightly due to softening local futures prices amid weakened sentiment following a plunge on the stock market in China on Thursday. Spot...Read More
South American import prices for flat-rolled steel were higher during the week ended Friday July 17, with more expensive offers from both China and Japan, market participants have told Fastmarkets.But clients were still bidding at their previous, lower levels in an attempt to prevent the increases being imposed on September-shipment cargoes, they added.Fastmarkets assessed the price of steel hot-r...Read More
Indian mills increased their hot-rolled coil export prices by as much as $30 per per tonne in the week to Friday July 17, because buyers in Southeast Asia are desperate for supplies to meet rising demand, sources told Fastmarkets.Fastmarkets price assessment for steel hot-rolled coil (commodity) export, fob main port India, was 450-455 per tonne on 17July, up by 20-30 per tonne from last week's $4...Read More
Turkish prices in the domestic market for hot-dipped galvanized coil (HDG) and color-coated coil increased in the week to Friday July 17, although demand was only moderate, sources have told Fastmarkets.The reason for the higher prices for coated flat steel was the rise in hot-rolled coil prices, because HRC is the base material for coated coil.Fastmarkets' weekly price assessment for steel HRC, d...Read More
Domestic steel rebar prices in Poland widened downwards in the week to Friday July 17, with buyers pushing for lower numbers despite all major producers having no July tonnages left, sources told Fastmarkets.Demand for rebar in Poland was slightly slower this week and buyers were bidding lower citing problems passing their costs downstream. Most major producers, including ArcelorMittal Warszawa, C...Read More
Imports of long products to the European Union dropped during the first four months of 2020 year on year due to the toxic combination of the effect of Covid-19 on consumption and rising protectionism. According to European steel association Eurofer, imports of rebar from outside of EU in January-April 2020 totaled 370,514 tonnes, down by 37% from 589,428 during the corresponding period of 2019. At...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort330,20567,77759,596125,909427,927515,710555,300Change from Prior Reporting Period -6,825-1,8955,5667,4856,9116,22610,582Traders22765875666318190 Small Speculators LongShortOpen Interest 64,46524,875580,175 1,173-3,1837,399 non reportable positionsChange from the previous reportin...Read More
Miles Franklin sponsored this article by Gary Christenson. The opinions are his and are not investment advice.Breaking News:? Gold reached $1,800, close to its all-time high of $1,923.? Silver reached $19, a long way from its high of $50.? The NASDAQ hit another new high.? Tesla closed on July 10 at $1,544, a new high. Tesla looked outrageously high at $1,200...Read More
This is an interesting interview between Professor Brian Lucey and Dr. Fergal O'Connor, lecturer in finance and economics at University College Cork (UCC) on gold's performance as a safe haven asset in the last 200 hundred years and in recent history including the 2008-2012 global financial crisis. The pandemic is one moment in history and Brian and Fergal discuss what gold has done in oth...Read More