Ferro-chrome prices in China's domestic and import markets soared again in the week to Tuesday January 26, due to restricted production in the north of the country and a leap in tender values.On January 21, Taiyuan Iron & Steel (Tisco) set its tender price for February-delivery high-carbon ferro-chrome at 8,000 yuan ($1,235) per tonne, up by 2,200 yuan per tonne (38%) from 5,800 yuan per tonne off...Read More
Prices for steel hollow sections in Europe moved upward this week, even as feedstock costs begin to fall, sources told Fastmarkets on Wednesday January 27.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?850-870 ($1,032-1,057) per tonne on Wednesday, up from ?,?820-850 per tonne one week earlier.In recent weeks, the price of the feedstock mater...Read More
Inflation will be one of the greatest upside risks for gold this year. Will it materialize and make gold shine?The report about gold in 2021 would be incomplete without the outlook for inflation . We have already written about it recently, but this topic is worth further examination. After all, higher inflation is believed to be one of the biggest tail risks in the coming months or years, and one...Read More
A dozen EU member states have called on the European Commission to extend the safeguard measures on steel imports that are due to expire on June 30 this year, according to a letter seen by Fastmarkets on Tuesday January 26.The letter, dated January 14, was signed by the governments of 12 countries: Italy, Germany, France, Slovakia, Luxembourg, Finland, Hungary, Poland, Spain, the Czech...Read More
Liberty Steel Group has completed "due diligence" on Thyssenkrupp Steel Europe and submitted a "firmed up" bid for its acquisition based on the results, the UK-based steel company told Fastmarkets on Monday January 25."On Monday January 25, 2021, Liberty Steel submitted a firmed-up bid for Thyssenkrupp Steel Europe based on the results of the comprehensive due diligence process including multiple...Read More
Here are five Fastmarkets stories you might have missed on Wednesday January 27 that are worth another look.Global crude steel output fell by 0.9% year on year to 1.86 billion tonnes in 2020, with an increase in China unable to offset declines across most other major steelmaking nations, the World Steel Association...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday January 27.Please click...Read More
Nickel briquette premiums in Shanghai and the United States rose in the week to Tuesday January 26, with domestic demand in both regions markedly improving. European premiums remained static, but buying interest was also notably better. Improved arbitrage, demand support Shanghai briquette premiumReduced supply, higher offers bolster US briquettesEuropean sellers look to improving spot market amid...Read More
European buyers of hot-rolled coil have been holding back from making new deals due to the risks related to restocking ahead of an expected price decrease, sources told Fastmarkets on Wednesday January 27.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?708.75 ($860.82) per tonne on Wednesday, down by ?,?2.25 per tonne from ?,?711.00 per tonne on J...Read More
Here are five Fastmarkets stories you might have missed on Wednesday January 27 that are worth another look.Global crude steel output fell by 0.9% year on year to 1.86 billion tonnes in 2020, with an increase in China unable to offset declines across most other major steelmaking nations, the World Steel Association...Read More
A differentiated fee structure designed to drive member-to-member trade away from the telephone market is being proposed by the London Metal Exchange as part of its discussion paper. The goal is to incentivize trade on the exchange's electronic trading platform, LMESelect, and is proposed to be achieved by cutting fees to trade electronically while raising fees for the telephone market by around 5...Read More
Covid-19 appears to have claimed another casualty: the London Metal Exchange ring trading floor. The closure of the floor, now entering its 144th year, has been proposed in a discussion paper issued by the exchange earlier on Tuesday January 19.The open outcry floor may be old, but it didn't appear to have serious underlying health issues. It has successfully fought back against talk it was set to...Read More
Somebody just SHUT DOWN Wall Street Bets on Reddit, and the First Majestic Silver shorts, can you say, "RIP YOUR FACE OFF"!!!!!*****Begin Update 3 (Weds, Jan 27, 7:10ish p.m. EST):My, oh my, oh my!The freakin' Reddit Mods SHUT DOWN Wall Street Bets!Wow:Silver Bugs, Stackers, and other Smart Investors, Family, friends, haters and trolls, understand this saying very, very clearly: "If you don't hold...Read More
Where do silver and the economy look to be heading, from a technical view?Patrick Karim interviewed by by Patrick V. via SBTVPatrick Karim: Silver's Mega Cup and Handle Move Since the 1980s Begging to be FulfilledWe are joined on Metal Money by Patrick Karim, veteran chart trader and founder of Badcharts.com. The chart pattern that excites Patrick most has been the multi-decade cup and handle move...Read More
Zinc and copper's forward prices shrunk over 2% on the afternoon of Wednesday January 27 on the London Metal Exchange, with anxiety over the Covid-19 situation around the world expanding and the dollar rising ahead of Federal Reserve chairman Jerome Powell's remarks this evening. Zinc's three-month price fell for a fourth day in a row on Wednesday to $2,583.50 per tonne. The galvanizing metal's pr...Read More
Sentiment in the seaborne iron ore market improved on Wednesday January 27 because of an uptick in prices for steel products, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $166.59 per tonne, up $1.52 per tonne 62% Fe low-alumina fines, cfr Qingdao: $166.65 per tonne, up $0.46 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $152.22 per tonne, down $0.92 p...Read More
The seaborne premium coking coal fob price jumped on Wednesday January 27 following two transactions done at over $150 per tonne fob Australia due to weather concerns, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $155.10 per tonne, up $4.89 per tonnePremium hard coking coal, cfr Jingtang: $217.24 per tonne, up $0.08 per tonneHard coking coal, fob DBCT: $124.74 per ton...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.It was only a couple of months ago that contract buyers of coated steels - represented in large part by market participants from the automotive sector - were grudgingly resigned to paying as much as ?,?100 ($120) per tonne more for their contracted shipments in 2021 compared with in 2020. Increases in contract prices of...Read More
RAPAPORT... WD Lab Grown Diamonds is overhauling its brand and expanding its production capabilities, aiming to meet rising demand for synthetics and respond to a sharpened focus on social purpose.The company will change its name to Latitude, and will work toward sustainability certification through SCS Global Services, a third-party certifier and standards developer, WD said Tuesday.This will ena...Read More
RAPAPORT... Sales of jewelry and watches at LVMH dropped 24% in 2020 due to the effects of the coronavirus pandemic.Revenue from the categories fell to EUR 3.36 billion ($4.07 billion), as the luxury retailer - which owns Bulgari and Chaumet - was forced to close stores and manufacturing sites for several months in most of the countries in which it operates. The ban on international travel also hu...Read More