Deep-sea steel scrap prices are expected to drop in upcoming bookings to Turkey, in line with falling finished steel prices in the country, market participants said on Thursday September 2.Sources said that suppliers in the United States were not currently offering material to Turkey because US domestic pricing negotiations remained unfinished. While a price drop is expected by some market partici...Read More
Spot prices for Japanese exported scrap slid this week, reflecting weak demand from overseas buyers, market sources told Fastmarkets.But the end of the summer maintenance season at many domestic mills is set to shore up demand and spot prices in the coming weeks.Demand from key overseas market such as Vietnam and Taiwan remained very weak due to the Covid-19 pandemic in the former and cheaper cont...Read More
Containerized scrap buyers in Taiwan maintained their bids for the material on Thursday September 2 after deals to South Korea were concluded at lower prices this week, sources said.Lower cfr South Korea deals weigh on Taiwan pricesProduction cuts pose uncertainties to scrap demand in ChinaTaiwanTaiwanese buyers maintained bids at $445 per tonne cfr today, reluctant to increase them further after...Read More
China's cobalt tetroxide prices drifted lower in the week to Wednesday September 1, due to weak demand from battery producers, while cobalt sulfate prices remained rangebound, with producers rejecting lower bids.Fastmarkets' price assessment for cobalt tetroxide 72.6% Co min, delivered China fell to 275,000-285,000 yuan ($42,562-44,110) per tonne on September 1, down from 282,000-292,000 yuan per...Read More
Share this article TORONTO - Kirkland Lake Gold Ltd. [KL-TSX, NYSE, KLA-ASX] said Thursday it has increased the measured and indicated mineral resources at its Detour Lake mine in northern Ontario by 10 million ounces.Included in the mid-year 2021 resource estimates are total measure and indicated resources, exclusive of mineral reserves, of 14.7 million ounces (572 million tonnes at an average g...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 2 that are worth another look.The anticipated agreement between the European Union and the United States on Section 232 tariffs would boost flat-steel export sales to the US and, consequently, reduce domestic EU availability, triggering a price rise in Europe, European...Read More
I told you it would happen.Just a few weeks ago, I told you that with Gov. Cuomo getting the boot, the new governor, Kathy Hochul, would prioritize New York's cannabis legalization rollout.It really wasn't hard to figure out. Because you see, while Cuomo dragged his feet on legalization, Hochul has long been an outspoken advocate of getting the Empire State's legal cannabis market up and running A...Read More
The anticipated agreement between the European Union and the United States on Section 232 tariffs would boost flat-steel export sales to the US and, consequently, reduce domestic EU availability, triggering a price rise in Europe, European buyers told Fastmarkets.The US and EU will reach an agreement on the exemption from Section 232 of European imports of steel and aluminium by November 1. The US...Read More
The European hot-rolled coil market remained in "wait-and-see" mode on Thursday September 2, with mills continuing to reject buyers' lower bids, sources told Fastmarkets.Order books for the majority of EU mills are filled until the first quarter of 2022. As a result, they are keeping official offers unchanged from levels in June - before the market entered its traditional summer slowdown. Some mar...Read More
Prices for domestic steel reinforcing bar in the United States were stable this week, with market participants waiting to see if other mills will follow Steel Dynamics Inc's (SDI) price increase.Fastmarkets' price assessment for steel rebar, fob mill US was $49.25 per hundredweight ($985 per short ton) on Wednesday September 1, unchanged since August 11 but up by 75.89% from $28 per cwt at the sam...Read More
Domestic rebar prices remained unchanged in Egypt for orders to be placed in September on still-weak demand, sources told Fastmarkets on Thursday September 2.Egyptian producers normally announce new rebar prices at the beginning of each month, but have kept their prices unchanged since May 17. And despite lifting a ban on construction activity on July 1, demand has remained limited, sour...Read More
Steel wire rod prices in Northern Europe were largely flat in the week to Wednesday September 1, supported by good end-user demand and limited supplies, sources told Fastmarkets this week.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality) domestic, delivered Northern Europe was ?,?890-920 ($1,052-1,088) per tonne on Wednesday, widening down from ?,?900-920 per tonne week on wee...Read More
Deep-sea steel scrap prices are expected to drop in upcoming bookings to Turkey, in line with falling finished steel prices in the country, market participants said on Thursday September 2.Sources said that suppliers in the United States were not currently offering material to Turkey because US domestic pricing negotiations remained unfinished. While a price drop is expected by some market partici...Read More
Spot prices for Japanese exported scrap slid this week, reflecting weak demand from overseas buyers, market sources told Fastmarkets.But the end of the summer maintenance season at many domestic mills is set to shore up demand and spot prices in the coming weeks.Demand from key overseas market such as Vietnam and Taiwan remained very weak due to the Covid-19 pandemic in the former and cheaper cont...Read More
Seaborne iron ore prices fell on Thursday September 2, with the outlook remaining bearish despite a drop in steel inventories amid relatively active port trading, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $142.02 per tonne,down $1.41 per tonne62% Fe low-alumina fines, cfr Qingdao: $142.59 per tonne,down $1.64 per tonne58% Fe fines high-grade premium, cfr Qing...Read More
China's domestic rebar prices recovered slightly on Thursday September 2, with demand stronger than in recent days following a rise in the futures market.DomesticEastern China (Shanghai): 5,210-5,250 yuan ($807-813) per tonne, up by 20 yuan per tonneThe most-traded January rebar futures contract rose to 5,348 yuan per tonne on Thursday morning, up by 106 yuan per tonne from Wednesday's closing pri...Read More
Speculation as to whether China will lift its anti-dumping (AD) duty on Indonesian stainless steel arose during the week to September 2. Some market participants believe this move would reduce China's crude stainless steel production and thereby help lower carbon emissions.China has imposed AD duty on imports of stainless steel billet, slab, hot-rolled plate and coil produced in the European...Read More
Haywood Capital Markets commented in a research report that the newly announced discoveries at Liberty Gold Corp.'s Black Pine Project highlight the unbounded nature of the underlying gold system. Haywood rates Liberty Gold as a "Buy" and recommends accumulating shares at current price levels. Analyst Geordie Mark, Ph.D. of Haywood Capital Markets commented in a September 1 research note that Can...Read More
Clients often ask when they should sell precious metals. We usually suggest one basic rule around the timing. After that, the decision to sell will depend upon whether your reasons for holding gold and silver have changed.The basic rule is to avoid selling based on impulse. Humans are emotional creatures and studies show most of us make poor choices when it comes to timing. If you are making a sna...Read More
The anticipated agreement between the European Union and the United States on Section 232 tariffs would boost flat-steel export sales to the US and, consequently, reduce domestic EU availability, triggering a price rise in Europe, European buyers told Fastmarkets.The US and EU will reach an agreement on the exemption from Section 232 of European imports of steel and aluminium by November 1. The US...Read More