Turkish steel billet prices have gone down over the past week due to falling long steel values and limited demand, market sources said on Thursday June 24.Turkish rebar and wire rod export prices have also been falling this week, which helped to drive the fall in values.The steelmakers in Turkey lowered their billet offers for domestic buyers to $675-685 per tonne ex-works from last week's $685-70...Read More
China's domestic rebar prices increased on Thursday June 24 in response to futures gains on Wednesday, stimulating demand for restocking, sources said.DomesticEastern China (Shanghai): 4,820-4,850 yuan ($745-749) per tonne, up by 10-20 yuan per tonneOctober rebar futures on the Shanghai Futures Exchanged increased on Wednesday night to trade as a high of 5,022 yuan per tonne, up by 88 yuan per ton...Read More
Prices in the European titanium alloy and scrap market could fall in the near term amid signs of weaker scrap costs and little renewed consumer demand for third quarter deliveries, according to trade sources.While most industry ferro-titanium suppliers reported fairly stable prices this week, they also said trading activity has been quiet, much like the rest of the current quarter. Steelmakers tol...Read More
The move away fromthe Federal Reserve Note as the global reserve currency of choice has continuedin recent years, with fresh developments increasing the greenback’s stiffcompetition. This has led tomassive central bank buying of gold, and that trend appears set to continue in2021. According to a recent report from the World Gold Council, 21% of globalcentral banks plan to purchase gold this...Read More
The recent Fed’s hawkish turn is fundamentally negative for gold prices but there is still some hope.The hawkish counter-revolution within the Fed continues. On Friday, St. Louis Fed President James Bullard said that the recent FOMC shift towards a faster tightening of monetary policy was a natural response to faster economic growth and higher inflation than anticipated:We were expecting a g...Read More
China's domestic stainless steel prices rose to their highest in four-and-a-half years over the past week after producers made upward adjustments to their list prices.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 16,900-17,500 ($2,609-2,701) per tonne, up by 300 yuan per tonne Prices were last at these levels in December 2016, according to Fastmarkets' data.High productio...Read More
The Brazilian capital goods association, Abimaq, will meet with China-based Baosteel and local trading house Comexport to pave the way for its members to import more steel amid rising prices and tight supply in the domestic market, the association said on Wednesday June 23."We still don't know details about tonnage or types of products that will be needed," Abimaq's executive president, Jos?(C) Ve...Read More
The Hybrit initiative - SSAB, LKAB and Vattenfall - has produced the world's first hydrogen-reduced sponge iron at a pilot scale, it said on June 24.The pilot plant in Lule??, Sweden has completed the test production of sponge iron and demonstrated that it is possible to use fossil-free hydrogen gas to reduce iron ore instead of using coal and coke to remove the oxygen. The sponge iron production...Read More
Much greater investment is needed to expand supply chains to secure critical minerals and expand manufacturing in key materials needed for the energy transition, according to the Acting Undersecretary for Science and Energy at the United States Department of Energy.These investments must ensure sustainable production, refining, and recycling capacity domestically, while ensuring strong environment...Read More
Hot-briquetted iron and ferrous scrap will become increasingly important as key steelmaking raw materials in Japan, according to SMBC Nikko Securities' senior analyst Atsushi Yamaguchi.Speaking at the Asia panel session at Steel Success Strategies 2021 on Wednesday June 23, Yamaguchi said the move will happen because of increasing concerns over carbon emissions in Japan, where major steel producer...Read More
The Hybrit initiative - SSAB, LKAB and Vattenfall - has produced the world's first hydrogen-reduced sponge iron at a pilot scale, it said on June 24.The pilot plant in Lule??, Sweden has completed the test production of sponge iron and demonstrated that it is possible to use fossil-free hydrogen gas to reduce iron ore instead of using coal and coke to remove the oxygen. The sponge iron production...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 24 that are worth another look.The Brazilian capital goods association, Abimaq, will meet with China-based Baosteel and local trading house Comexport to pave the way for its members to import more steel amid rising prices and tight supply in the domestic market, the association said...Read More
Much greater investment is needed to expand supply chains to secure critical minerals and expand manufacturing in key materials needed for the energy transition, according to the Acting Undersecretary for Science and Energy at the United States Department of Energy.These investments must ensure sustainable production, refining, and recycling capacity domestically, while ensuring strong environment...Read More
Prices in the European titanium alloy and scrap market could fall in the near term amid signs of weaker scrap costs and little renewed consumer demand for third quarter deliveries, according to trade sources.While most industry ferro-titanium suppliers reported fairly stable prices this week, they also said trading activity has been quiet, much like the rest of the current quarter. Steelmakers tol...Read More
European manganese flake prices continued to surge in the week ended Wednesday June 23, boosting the premium for prompt material amid very tight stock availability in Rotterdam, Fastmarkets has heard.Fastmarkets' price assessment for manganese, 99.7% electrolytic manganese flake, in-whs Rotterdam, rose by 3% to $3,600-3,710 per tonne on June 23, up from $3,500-3,600 per tonne in the previous sessi...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 24 that are worth another look.The Brazilian capital goods association, Abimaq, will meet with China-based Baosteel and local trading house Comexport to pave the way for its members to import more steel amid rising prices and tight supply in the domestic market, the association said...Read More
The manipulation has become the foremost factor for the metals' pricing, but...by Chris Powell of the Gold Anti-Trust Action Committee (GATA)Dear Friend of GATA and Gold:GATA Chairman Bill Murphy, interviewed yesterday by Yankee Stacking, says the manipulation of the gold and silver markets is now worse than it has ever been relative to the fundamental factors of the monetary metals' pricing. The...Read More
What kind of technical damage has been done on the silver price chart?Gareth Soloway with Patrick V. on Silver Bullion TVWe are joined on Metal Money by Gareth Soloway, President & CFO of InTheMoneyStocks.com. In the aftermath of the most recent fall in silver prices, we ask Gareth about the 'technical damage' on the silver price chart and if sub-$20 silver is on the horizon.FULL SHOW NOTES AND LI...Read More
All base metals prices on the London Metal Exchange, except for copper, finished slightly higher on Thursday June 24, with the recovery continuing after last week's decline while the US Dollar Index consolidated on low ground to lend support to the complex.Nickel led the way on the LME, rising by 1.9% at the close of trading on Thursday to $18,407 per tonne, up from its Wednesday closing price of...Read More
Iron ore prices declined on increasing steel inventories and a high chance of stricter restrictions on steel mills ahead of centennial celebrations, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $213.46 per tonne, down $2.55 per tonne62% Fe low-alumina fines, cfr Qingdao: $217.08 per tonne, down $2.26 per tonne58% Fe fines high-grade premium, cfr Qingdao: $183.86 per tonne,...Read More