Ferrous scrap prices in the United States are facing more upside in January, in a market where supply is trying to catch up with demand. The strength of the ferrous scrap market has caught nearly everyone off-guard, with earlier predictions that the market had another $30-40 per gross ton to rise following the close of the November trade proving to be well below the actual settlements.&n...Read More
The Turkish deep-sea scrap import market was quiet on Thursday December 10, although prices remained firm, sources told Fastmarkets.A steel mill booked a European cargo at $377-378 per tonne cfr on an HMS 1&2 (75:25) basis, which raised the daily scrap indices by more than $12 per tonne on Wednesday, but the market was quiet on Thursday.There was talk of a sale from the United States at $400 per t...Read More
A recent sharp increase in Bangladeshi long steel prices has provided some much-needed respite to mill margins at a time of soaring import scrap costs, sources told Fastmarkets on Thursday December 10.Prices for Bangladeshi domestic rebar had been marooned at 55,000-55,500 taka ($638-643) per tonne since September, but prices were heard 5,500-6,000-per-tonne higher at 61,000 taka per tonne on Thur...Read More
Here are five Fastmarkets stories you might have missed on Thursday December 10 that are worth another look.Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) was close to concluding negotiations with automotive producers to raise its prices for steel under annual contracts in 2021 by 30-45% across different products, commercial director Luis Martinez said...Read More
Last Saturday, I celebrated my 50th birthday.I started off the day with a great CrossFit workout, treated myself to a nice lunch, and then took some psychedelic mushrooms and went on a three-hour hike in the Adirondacks. The latter was my favorite part of the day. :) I don't typically do mushrooms a lot.For me, they really are a "special occasion" kind of thing.Moreover, I don't see mushrooms as a...Read More
Prices for imported hot-rolled and cold-rolled steel coil in the United States surged on Wednesday December 9 to the highest levels in more than two years, as buyers scrambled to find supply amid speculation that further increases are coming."Import volumes are limited," a West Coast distributor said. "With tariffs and dumping suits you aren't seeing a lot of imports arrive. I think domestic produ...Read More
Domestic European prices for hot-dipped galvanized coil increased over the week to Wednesday December 9, due to low availability, good demand and higher feedstock prices, sources told Fastmarkets during the week.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was ?,?680-730 ($823-884) per tonne on December 9, widening upward from ?,?680-700 per tonne a week earli...Read More
Steel reinforcing bar prices in the United States have surpassed a one-and-a-half-year high, propelled by raw material-driven mill hikes. Fastmarkets assessed steel rebar, fob mill US at $34 per hundredweight ($680 per short ton) on Wednesday December 9, up by 8.8% from $31.25 per cwt the previous week and the highest level since it was assessed at $34.50 per cwt on May 15, 2019. US marketFas...Read More
ArcelorMittal Gijon resumed steel making operations this week after six days of downtime due to industrial action, a company representative told Fastmarkets.The steel production at ArcelorMittal's Gijon plant, located in Asturias, Spain, was suspended on December 3 because of a worker's strike, Fastmarkets understands.Gijon steelworks has a capacity to produce about 600,000 tonnes per year of heav...Read More
Steel billet and rebar prices have increased in Egypt in the week ending Thursday December 10, because of restocking after recent price increases, market sources have told Fastmarkets.Egyptian rebar producers have raised their prices twice in December so far, because of high production costs.Producers in the country have been offering rebar at E ?11,450-11,600 ($728-738) per tonne ex-works includi...Read More
Ferrous scrap prices in the United States are facing more upside in January, in a market where supply is trying to catch up with demand. The strength of the ferrous scrap market has caught nearly everyone off-guard, with earlier predictions that the market had another $30-40 per gross ton to rise following the close of the November trade proving to be well below the actual settlements.&n...Read More
The Turkish deep-sea scrap import market was quiet on Thursday December 10, although prices remained firm, sources told Fastmarkets.A steel mill booked a European cargo at $377-378 per tonne cfr on an HMS 1&2 (75:25) basis, which raised the daily scrap indices by more than $12 per tonne on Wednesday, but the market was quiet on Thursday.There was talk of a sale from the United States at $400 per t...Read More
Companhia Sider??rgica Nacional (CSN) set the iron ore guidance for its own production and purchases from third parties at 33 million tonnes in 2020 and 38-40 million tonnes in 2021, the Brazilian steelmaker and miner said on Thursday December 10.CSN previously expected its output and third-party purchases to total 33-36 million tonnes this year, compared to 38.46 million tonnes in 2019.A business...Read More
New bookings of Commonwealth of Independent States (CIS)-origin billet in Southeast Asia and Turkey were heard at higher prices in the week to Thursday December 10, while some suppliers were reported to have withdrawn from the market to reconsider prices, sources told Fastmarkets. A billet cargo originating in Russia was heard booked to Turkey earlier this week at $538 per tonne cfr, which would n...Read More
Turkish steel billet prices have increased sharply this week due to rising imported scrap costs and tightening supply, sources said on Thursday December 10.Steel billet exporters from the Commonwealth of Independent States (CIS) have continued to raise their offer prices for Turkish customers, which now stand at $550-560 per tonne cfr compared with last week's $520-530 per tonne.The Turkish custom...Read More
Understanding the ways in which the media seeks to control the narrative and sway your opinions is explored by dismantling two recent shamefully crafted hit pieces that went after Dr. Kory and his Covid Critical Care Team. Once you learn to spot leading phrases and slanted and biased words you gain power. No longer can you be so easily manipulated by media hacks. You'll regain your ability to be i...Read More
Steel billet and rebar prices have increased in Egypt in the week ending Thursday December 10, because of restocking after recent price increases, market sources have told Fastmarkets.Egyptian rebar producers have raised their prices twice in December so far, because of high production costs.Producers in the country have been offering rebar at E ?11,450-11,600 ($728-738) per tonne ex-works includi...Read More
From lockdowns & shutdowns dampening people's Christmas plans, to a nation that's even more divided than last month, Main Street seems primed to spiral out of control while the financial markets take on the look of insanity. Fortunately, John Rubino of Dollar Collapse joined Silver Doctors on Thursday, December 10, 2020, to help make sense of it all.Some of the topics in today's discussion include...Read More
Read the full article here: https://goldsilver.com/blog/why-finan... Jeff Clark is editor and lead writer of BIG GOLD, the monthly gold-investment newsletter from Doug Casey's Casey Research. He is also the Senior Precious Metals Analyst at GoldSilver.com. Having worked on his family's gold claims in California and Arizona, and analyzing the big trends in gold's bull market, Jeff and his team aim...Read More
Markets are in for a very wild ride. Covid taking front and center and the stock market is still holding up in spite of the threat.There's an attempt at the Santa Rally, we'll see if it succeeds. However, markets will close higher for the year. Renewed investor interest will keep things moving to the upside. They're looking beyond. Rally will continue into January. More stimulus is certainly comin...Read More