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

Chinese steelmakers are increasingly adjusting their sinter feed ratios to consist of more low-grade iron ore to go with the high-grade products they are already consuming - instead of mid-grade fines - amid rising costs and weakening margins, market sources said.The switch mirrors that in the third quarter of 2020, when low inventory levels for mid-grade fines at Chinese ports led to price increa...Read More

Iron ore prices increased across the board on Friday June 25, boosted by an increase in downstream steel prices. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $216.45 per tonne, up $2.99 per tonne 62% Fe low-alumina fines, cfr Qingdao: $218.75 per tonne, up $1.67 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $187.16 per tonne, up $3.30 per tonne 65% Fe Brazil-origin fines, cfr...Read More

Aluminium stock levels on the London Metal Exchange have been steadily declining in 2021 to date and on-warrant stock levels now sit at their lowest since March 2020. After a number of cancellations and deliveries out this week, only 941,875 tonnes of aluminium are listed as on warrant - with the rest canceled and booked for delivery out. By comparison, on-warrant stocks were at well over 1.3 mill...Read More

"...the trend is on..."James Anderson interviewed By Matt from Silver Fortune via Silver FortuneA discussion about Paul Tudor Jones' recent comments, as well as a discussion on a whole host of other topics, ranging from fed policy, inflation, to physical silver supply and demand and wallstreetsilver.FULL SHOW NOTES AND LINKS HERE Read More

China's domestic hot-rolled coil prices pushed up on Friday June 25, after futures prices increased following talks of production curbs on steel mills in the Tangshan steelmaking hub in northern China.DomesticEastern China (Shanghai): 5,380-5,450 yuan ($833-844) per tonne, up by 80-90 yuan per tonne. Northern China (Tangshan): weekly assessment: 5,280-5,330 yuan ($818-826) per tonne, down by 150-1...Read More

The CFTC actually acknowledged that there's a price-fixing operation that controls the price and volatility of silver...by Chris Marcus of Arcadia EconomicsIn one of the more shocking comments in the history of the financial markets, the acting commissioner of the CFTC actually acknowledged that there's a price-fixing operation that controls the price and volatility of silver.If it's too shocking...Read More

An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and...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

Nickel and aluminium gained the most in percentage terms on the London Metal Exchange this week, with a set of country-specific announcements setting the tone for the complex and leading all base metals prices higher.The base metals rebounded from the losses made last week, when copper plummeted by some 8% and nickel and zinc lost 7% of their value.This week, prices were affected by a number of ma...Read More

Spot copper concentrate processing charges have surged to a four month-high for the week ending Friday June 25. Fastmarkets' copper concentrate treatment charge and refining charge (TC/RC) index is now at its highest since February 12. The spot index continued to rise this week after smelters...Read More

Following a drop of 10.9% the week prior, deliverable zinc stocks in Shanghai Futures Exchange-registered warehouses slumped by 30% in the week to Friday June 25, the highest in percentage terms among the base metals complex.Zinc inventories fell by 15,103 tonnes to 35,314 tonnes on Friday, with the largest outflow, down by 4,323 tonnes to 15,456 tonnes, from the Quansheng Logistics warehouse in S...Read More