Overnight, on Sunday and early Monday, Precious Metals and Oil started a fairly big collapse which quickly bottomed and recovered – at least in the Precious Metals markets. Crude Oil is still moving lower in early trading on Monday, August 9, 2021. Can we learn anything from the pre-COVID market trends and extrapolate any real-world analysis from this?Precious Metals “Mini...Read More
Here are five Fastmarkets stories you might have missed on Friday August 13 that are worth another look.Extended waiting times and bottlenecks at major Chinese ports have resulted in lower demand for imports of steel billet and higher freight costs for such shipments this week, sources told Fastmarkets...Read More
The precious metals futures markets launched shortly after Richard Nixon closed the gold window and removed the last vestige of gold backing from the Federal Reserve Note. Officials introduced paper gold and silver contracts specifically to increase price volatility and discourage physical ownership of metals.After nearly 50 years, it is safe to say their strategy was a success.It is often excruci...Read More
Export prices for Brazil-origin slab fell in the week ended on Friday August 13, with buyers resisting current offer levels to get better deals.Buyers and sellers continued to negotiate for October-shipment batches, with many re-rollers in the US willing to purchase material, but placing bids at $900 per tonne fob and below. On the other hand, sellers were trying to maintain prices from previous d...Read More
Prices of flat-rolled steel imported into South America were mostly up during the week ended Friday August 13, boosted by costly freight rates and higher offers, and despite uncertainty about a potential Chinese export tax.Most market participants expect the Chinese government soon will announce an export tax on steel, which has been heard from market chatter in the Asian country. There was no con...Read More
Demand for cargoes of steel billet has been low in key Southeast Asian markets over the past week with prices rangebound, sources told Fastmarkets on Friday August 13."The Southeast Asian markets are dead, there are no bids from Thailand, which has now become a billet exporter, and there is a very strict lockdown in the Philippines," a South Asian billet trader said."Philippine demand is in really...Read More
Here are five Fastmarkets stories you might have missed on Friday August 13 that are worth another look.Extended waiting times and bottlenecks at major Chinese ports have resulted in lower demand for imports of steel billet and higher freight costs for such shipments this week, sources told Fastmarkets...Read More
Base metals prices on the London Metal Exchange were trading mostly higher at the close on Friday August 13, with copper, aluminium and lead all making gains.The three-month aluminium price closed at $2,600 per tonne, up from $2,582.50 per tonne. This was the first time it has closed above $2,600 per tonne since August 2.The price hit an intraday trading high of $2,622.50 per tonne, also the highe...Read More
Seaborne coking coal prices trended higher in the cfr China market following a strong domestic coking coal market and fell slightly in the fob market on Friday August 13 with market participants adopting a wait-and-see attitude.Prices for seaborne pulverized coal injection (PCI) increased in the cfr China market in the week to August 13 based on good restocking demand from end users and rose sligh...Read More
Iron ore prices across the board drop on Friday August 13 due to continued thin liquidity in the seaborne market, with one market participant describing the outlook as "grim."Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $162.07 per tonne, down $0.89 per tonne62% Fe low-alumina fines, cfr Qingdao: $162.74 per tonne, down $0.45 per tonne58% Fe fines high-grade premium, cfr Qingdao: $130.6...Read More
Demand was near-decade lows during the first three years of Trump since the economy was doing well. Then, when Corona hit...Josh Phair interviewed on Palisades Gold RadioTom welcomes Josh Phair, President of Scottsdale Mint, to the show.Josh describes his background in risk management and how that led him to become interested in the mining industry. While he liked the industry, he realized he had...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Proposed changes to Chile’s mining royalty regime will not have a drastic impact on the country’s production landscape in the near-term.However, analysis from global natural resources consultancy Wood Mackenzie, a Verisk c...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Copper will play a pivotal role in the energy transition. Aluminium may be an abundant and cheap competitor for electrification applications, but carbon footprint issues for primary metal may give copper the edge. Ultimately that poin...Read More
The export price for pig iron from the south of Brazil was firm during the week to Friday August 13 because suppliers have full order books after agreeing sales to the United States.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $540-545 per tonne on Friday, widening upward from $540-542 per...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Dalila Ouerghi...Read More
Most secondary aluminium alloy prices in the United States' domestic market continued to climb on Thursday August 12 on strong demand for ingot and high manufacturing costs combined with ever-rising aluminium premiums.Fastmarkets last assessed the aluminium P1020A premium, ddp Midwest US at 34.5-35.5 cents per lb on Friday August 13, steady after reaching an all-time high on Tuesday August 10."[So...Read More
Chinese automobile production and sales figures continued to fall in July 2021, on both a monthly and an annual basis, although figures for vehicle exports and new energy vehicles hit record highs, the China Association of Automobile Manufacturers (CAAM) has said.Carmakers in China produced 1.86 million units in July, down by 4.1% month on month and by 15.5% year-on-year. Sales came to 1.86 millio...Read More
Treatment charges for zinc concentrates have widened in the first half of August, with the market seeing minimal spot business ahead of what was expected to be large-scale buying from Chinese smelters later in the year.Fastmarkets' assessment of the zinc spot concentrate TC, cif China, widened downward to $75-90 per tonne on Friday August 13, from $78-90 per tonne two weeks earlier. After years of...Read More
Aluminium primary foundry alloy (PFA) premiums were unchanged this month in Europe and the United States, continuing to lag other value-added products such as billet.EuropeFastmarkets assessed the aluminium primary foundry alloy, silicon 7 ingot premium, ddp Germany at $510-550 per tonne on Friday August 13, flat from July 9. "The market has been really quiet this week. We are waiting until Septem...Read More
Base metals prices on the London Metal Exchange were trading mostly higher at the close on Friday August 13, with copper, aluminium and lead all making gains.The three-month aluminium price closed at $2,600 per tonne, up from $2,582.50 per tonne. This was the first time it has closed above $2,600 per tonne since August 2.The price hit an intraday trading high of $2,622.50 per tonne, also the highe...Read More