Centennial celebrations for the founding of the Chinese Communist Party has caused some parts of the ferrous supply chain in China to grind to a halt, market sources told Fastmarkets this week.Construction sites in Jiangsu province have been asked to provide a "safe and stable" social environment for the celebrations of the party's 100-year anniversary, with the provincial executive governor dubbi...Read More
Virtually all Baltimore residents were under surveillance for 12 hours a day over six months. The court's ruling found that the BPD's surveillance system violates the Fourth Amendment Continue...Read More
The Russian government has approved temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), which are set to take effect from August 1 through December 31, according to an official government decree. The duties, which are intended to control inflation of metal prices domestically, are expected to raise approximately 160 million rubles ($2.2...Read More
Cyon Exploration has a new name, new management and is about to start drilling deep. Cyon Exploration Ltd. (CYON:TSX.V; CYNXF:OTCQB) has seen a lot of changes recently. The company changed its name from True Grit Resources to Cyon Exploration Ltd. It received approval for NEX reactivation and graduation to Tier 2 of the TSX Venture Exchange, and also listed on the OTCQB in the U.S.; a new managem...Read More
In Streetwise Reports' Streetwise Live broadcast on June 22, 2021, Vox Royalty CEO Kyle Floyd and VP of Corporate Development Simon Cooper discuss investing in a royalty company for exposure to commodities and protection against inflation. Host Cyndi Edwards began by introducing Vox Royalty Corp. (VOX:TSX.V), represented on the broadcast by its CEO Kyle Floyd and its Vice President of Corporate D...Read More
The price of flat-rolled stainless steel in Europe resumed its upward trend this week amid a continuing supply shortage, sources told Fastmarkets on Friday June 25.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered North Europe was ?,?3,450-3,500 ($4,116-4,176) per tonne on Friday, up ?,?100 from ?,?3,350-3,400 per tonne a week...Read More
European buyers of imported steel products are shocked by the extension of existing safeguard measures for another three years at a time when most of the industry's segments are struggling from material shortage and, consequently, high prices. European Union member states voted in the week ended June 18 in favor of a proposed extension of these measures for three years beyond their scheduled...Read More
European Metal Recycling (EMR) will commit to a net zero carbon emissions target across all three emission scopes, the company said on June 24.EMR aims to be carbon neutral by 2040 across scopes 1, 2 and 3 of relevant greenhouse gas emissions, and to provide its customers with traceability of its materials across the supply chain.EMR's goal is to reach net zero for indirect emissions created by th...Read More
Customer requirements and financing will shape the decarbonization of the steel industry, panelists said at Fastmarkets' 2021 Steel Success Strategies Industry Briefing earlier this week.The steel industry is not shaping decarbonization - instead, external forces are driving it, McKinsey & Co partner Benedikt Zeumer said on Tuesday June 24."Customer requirements will bolster industry to reduce the...Read More
Fed pumped so much money into thefinancial system, that the latter started sending it back. How will this andFed’s more hawkish tone impact gold?With Jerome Powell, Chairman of the U.S.Federal Reserve (FED), testifying before Congress on Jun. 22, his preparedremarks signaled that the FED remains on autopilot. Despite saying that “jobgains should pick up in coming months as vaccinations...Read More
The Russian government has approved temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), which are set to take effect from August 1 through December 31, according to an official government decree. The duties, which are intended to control inflation of metal prices domestically, are expected to raise approximately 160 million rubles ($2.2...Read More
Sector expert Michael Ballanger explains how recent statements by the Federal Reserve could prove hazardous to one's wealth. In the past week, precious metals investors, speculators and traders have been forced to apply all kinds of salves, balms and ointments to jangled nerves, rattled resolve and battered net worth statements, all directly the result of an unexpected shift in the official narrat...Read More
European Metal Recycling (EMR) will commit to a net zero carbon emissions target across all three emission scopes, the company said on June 24.EMR aims to be carbon neutral by 2040 across scopes 1, 2 and 3 of relevant greenhouse gas emissions, and to provide its customers with traceability of its materials across the supply chain.EMR's goal is to reach net zero for indirect emissions created by th...Read More
Customer requirements and financing will shape the decarbonization of the steel industry, panelists said at Fastmarkets' 2021 Steel Success Strategies Industry Briefing earlier this week.The steel industry is not shaping decarbonization - instead, external forces are driving it, McKinsey & Co partner Benedikt Zeumer said on Tuesday June 24."Customer requirements will bolster industry to reduce the...Read More
The Russian government has approved temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), which are set to take effect from August 1 through December 31, according to an official government decree. The duties, which are intended to control inflation of metal prices domestically, are expected to raise approximately 160 million rubles ($2.2...Read More
The pig iron export market in Brazil remained muted in the week to Friday June 25 due to continuing long lead times, but demand is expected to pick up if Russia implements a pig iron export tax in the coming weeks, sources told Fastmarkets.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $620 per tonne on Friday, unchanged week on week.The market remained ina...Read More
The United States' pig iron import market fell in the latest bookings during the week to Friday June 25, although a rebound may come on the threat of reduced supply from Russia if a proposed export tax is implemented.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $645-655 per tonne on Friday, down from $650-665 per tonne a week earlier.One booking of Russia-origin...Read More
Indian domestic prices for secondary steel billet fell by 1,000 rupees ($13) per tonne in the week ended Friday June 25, in line with similar price dips for finished products such as rebar, Fastmarkets has heard.The price of steel billet, domestic, ex-works India, was assessed by Fastmarkets at 41,300-41,500 rupees ($557-559) per tonne on Friday, compared with last week's assessment at 42,300-42,5...Read More
Russia, the largest global supplier of pig iron, is likely to impose a temporary tax on exports of non-ferrous metals, including pig iron, sold outside the Eurasian Economic Union (EAEU).Russia's economy ministry has proposed that the government impose temporary export duties between August 1 and December 31, 2021. The final decision must be before June 30, because Russian law requires a month bet...Read More
European buyers of imported steel products are shocked by the extension of existing safeguard measures for another three years at a time when most of the industry's segments are struggling from material shortage and, consequently, high prices. European Union member states voted in the week ended June 18 in favor of a proposed extension of these measures for three years beyond their scheduled...Read More