Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comJuly 6, 2021 Should American Independence Day be renamed Fiat Dependence Day? Please click here now. The United States is no longer united.Arguably, the only unifying force that remains amongst races and political parties... is worship of the fiat money voodoo doll. In 2019 I warned that...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 6 that are worth another look.Indian suppliers exhausted their third-quarter quota for shipments of hot-rolled coil into Europe on the first day of the new three-month period, according to data released by the European...Read More
Jul 06, 2021 Guest(s): Chris Vermeulen Chief Market Strategist, The Technical Traders Chris Vermuelen, chief market strategist at https://TheTechnicalTraders.com, has redeployed his cash holdings back into stocks and is now fully invested ahead of what he believes is a bull rally.Vermeulen has just a few months ago liquidated all his holdings and held 100% cash in anticipation of a market correc...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday July 6 and their latest price moves.China Spot domestic ferro-chrome prices rose for a fifth consecutive week on stronger sentiment after Tsingshan raised its July tender price by 950 yuan per tonne month on month. The higher tender price also boosted the imported charge chrome market, where sellers re...Read More
Brazilian alumina exports rose by 20.13% year on year in June, while bauxite shipments fell by 34.50%, according to data from the country's ministry of economy published on Monday July 5.Brazil exported 816,785 tonnes of alumina in June, up from 679,916 tonnes a year before, amid significantly higher contributions from the northern Bel?(C)m port in the Par?? state.Shipments from the Bel?(C)m port...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 6 that are worth another look.Indian suppliers exhausted their third-quarter quota for shipments of hot-rolled coil into Europe on the first day of the new three-month period, according to data released by the European...Read More
The Turkish steel producers continued to hold back from the deep-sea scrap import markets on the second working day of the week due to limited demand for finished long steel products, market participants told Fastmarkets on Tuesday July 6.The mills in the country booked four deep-sea cargoes last week, three of which were booked by a single steel mill.The most recent deal was concluded at $495 per...Read More
Buyers' activity in the steel scrap import market remained low on Tuesday July 6 despite rising contracts for rebar and hot-rolled coil on the Shanghai Futures Exchange."Market chatter on mills cutting production has turned the finished steel markets bullish, so raw materials [markets] followed. This is why rebar and HRC rose higher than iron ore in the futures market today," a Zhejiang-based trad...Read More
Base metals prices on the Shanghai Futures Exchange, apart from those for lead, were up during morning trading on Tuesday July 6. Those on the London Metal Exchange were mixed, but that was after a generally positive day on Monday.Brent crude oil climbs after Organization of Petroleum Exporting Countries fail to agree a production increaseBase metalsLME three-month base metals prices were mixed th...Read More
Global recycling company TES plans to build its first lithium-ion battery recycling plant at the Port of Rotterdam in the Netherlands, according to a joint statement made on Monday July 5.The new plant will have capacity for 10,000 tonnes per year, and will be the first of its kind in the European country, TES and the port authority said in the announcement. It should be fully operational by late...Read More
We spoke with Mike Bandrowski, President/CEO of Big Ridge Gold Corp. (TSX-V: BRAU). Big Ridge Gold is in the process of acquiring 80% interest in First Mining Gold's Hope Brook Gold Project, located in Newfoundland and Labrador. The project is a former high-grade gold producer (1987-1997), with the existing resource of indicated 844,000 oz Au, grading 4.77 g/t, inferred 110,000 oz Au at 4.11 g/t....Read More
We spoke with Dan Wilton, CEO and Director of First Mining Gold Corp. (TSX: FF, OTCQX: FFMGF, FRANKFURT: FMG), a Canadian gold developer, focused on the development and permitting of the Springpole Gold Project, in northwestern Ontario. Springpole is one of the largest undeveloped gold projects in Canada. First Mining Gold has announced a positive Pre-Feasibility Study for Springpole in January 20...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 6 that are worth another look.Indian suppliers exhausted their third-quarter quota for shipments of hot-rolled coil into Europe on the first day of the new three-month period, according to data released by the European...Read More
Insights is a bit later than usual this week as we are working on a special announcement.Stay tuned! Read More
Hot-rolled coil import prices into the United Arab Emirates and Saudi Arabia decreased during the week ended Tuesday July 6 because of globally weakening prices, as well as the upcoming Eid al-Adha religious holiday, sources have told Fastmarkets.The Eid al-Adha holiday was expected to start in about two weeks' time, and some buyers were postponing their bookings until after that, sources said.HRC...Read More
Activity in the European hot-rolled coil market has been limited because buyers are refraining from making new deals to assess price trends and mills are holding back from trading on good order books, sources told Fastmarkets on Tuesday July 6.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,146.25 ($1,359.80) per tonne on Tuesday July 6, down by...Read More
The United States' steel import licenses climbed in June to the highest level since January 2020, according to government figures.The US was licensed to import 2.66 million tonnes of steel in June, up 16.01% from 2.29 million tonnes in May, according to data from the US International Trade Administration's steel import monitoring system. Import licenses were up 108.27% from 1.28 million tonnes in...Read More
The Zakat, Tax & Customs Authority in Saudi Arabia has decreed that all imports into the country will be subject to import duty, whether they come from free-trade zones or other member-states of the Gulf Co-operation Council (GCC).GCC countries normally have duty-free trade between each other. They are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.The Saudi Arabian decree...Read More
Steel rebar and billet prices in the United Arab Emirates decreased during the week to Tuesday July 6 due to a global slowdown, sources told Fastmarkets.Global demand for long steel is moderate to weak, and prices are no longer increasing in Turkey, a key exporter of rebar.Emirates Steel, the biggest producer in the UAE, decreased its official rebar price by 55 dirhams ($14.97) per tonne to 3,012...Read More
The Turkish steel producers continued to hold back from the deep-sea scrap import markets on the second working day of the week due to limited demand for finished long steel products, market participants told Fastmarkets on Tuesday July 6.The mills in the country booked four deep-sea cargoes last week, three of which were booked by a single steel mill.The most recent deal was concluded at $495 per...Read More