Turkish steelmakers continued to book deep-sea scrap cargoes for February and March shipment at firm prices, sources said on Thursday January 7.A steel mill in the Marmara region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $480 per tonne, 22,000 tonnes of shredded and 10,000 tonnes of bonus at $490 per tonne cfr.And a steel mill in the Izmir region booked a Baltic Sea cargo a...Read More

Prices for plate and structural-grade scrap (P&S), known as HS in Japan, have shown a slight increase over the past week on strong demand from mills in both Japan and China, sources told Fastmarkets on Thursday January 7.China booked at least four steel scrap cargoes from Japan in the first week of 2021 following an easing in the country's import regulations, with most of these deals done for HS h...Read More

Markets remained upbeat on the morning of Thursday January 7 despite the outbreak of violence in Washington, DC, with nickel joining copper and tin in setting fresh new multi-month highs but gold turning lower.Asian-Pacific equities generally upbeat, along with pre-market western equity index futures as the US Democrats win the Senate US 10-year treasury yields continue to rise Base metals Th...Read More

Spot cobalt hydroxide payables surged in the first half of this week with Chinese consumers actively seeking units while logistical bottlenecks continued to cap suppliers' ability to deliver January cargoes. Fastmarkets' assessment of the cobalt hydroxide payable indicator, min 30% Co, cif China moved up to 86-88.5% against standard-grade cobalt price (low end) on Wednesday January 6, from 82-83%...Read More

Are you a Teslanaire?This is a new term that describes investors who bought early shares of Tesla (NASDAQ: TSLA) and became millionaires in the process.If you bought 1,000 shares of Tesla right after it went public at around $25 per share - back when I told investors it would be a wise investment - you might be a Teslanaire.To be exact, those initial 1,000 shares would've been worth more than $1 m...Read More

Here are five Fastmarkets stories you might have missed on Thursday January 7 that are worth another look.The provisional anti-dumping duties imposed on imports of Turkish hot-rolled coil by the European Commission are neither reasonable nor fair, Turkish steel exporters told Fastmarkets on January 7.The blockade...Read More

European buyers expected that domestic hot-rolled coil prices would continue to rise in January and in the rest of the first quarter, due to good order books at domestic mills and a lack of competitive imports, sources told Fastmarkets on Thursday January 7.During the first week of January, however, domestic prices have remained fairly stable in a seasonally slow market.Fastmarkets calculated its...Read More

The European Commission has set 4.8-7.6% provisional anti-dumping duties on hot-rolled coil originating from Turkey, effective Wednesday January 6. The EC calculated preliminary duties for Habas at 4.80%; for Erdemir at 5.40%; for Agir Haddecilik and Borcelik at 5.90%; and for Colakoglu and all other companies at 7.60%, according to the Official Journal of the European Union. The product concerned...Read More

Steel reinforcing bar spot prices in the United States continue their scrap-driven ascent, according to market participants.Fastmarkets assessed the price of steel reinforcing bar (rebar), fob mill US, at $37.75 per hundredweight ($755 per short ton) on Wednesday January 6, up by 2% from the previous assessment of $37 per cwt. Domestic rebar prices are closing in on $38 per cwt, a level which has...Read More

Steel billet and rebar prices have remained stable in Egypt in the week ending Thursday January 7 because of low levels of market activity, market sources have told Fastmarkets.January 7 was the Coptic Christmas in Egypt, and trading was subdued in the days before the holiday.Market participants now wanted to see the direction that prices might move globally before placing orders.Demand for rebar...Read More

Domestic long steel prices in Turkey have increased over the past week thanks to rising scrap costs, but demand is weak because local buyers are struggling with the higher prices, sources told Fastmarkets on Thursday January 7.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 5,500-5,700 lira ($750-777) per tonne on Thursday, widening up from th...Read More

Turkish steelmakers continued to book deep-sea scrap cargoes for February and March shipment at firm prices, sources said on Thursday January 7.A steel mill in the Marmara region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $480 per tonne, 22,000 tonnes of shredded and 10,000 tonnes of bonus at $490 per tonne cfr.And a steel mill in the Izmir region booked a Baltic Sea cargo a...Read More

Prices for plate and structural-grade scrap (P&S), known as HS in Japan, have shown a slight increase over the past week on strong demand from mills in both Japan and China, sources told Fastmarkets on Thursday January 7.China booked at least four steel scrap cargoes from Japan in the first week of 2021 following an easing in the country's import regulations, with most of these deals done for HS h...Read More

Seaborne iron ore prices maintained their upward trend across the board on Thursday January 7, with lump premiums also continuing to rise because of firm demand, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $171.69 per tonne, up $2.97 per tonne62% Fe low-alumina fines, cfr Qingdao: $172.25 per tonne, up $3.50 per tonne58% Fe fines high-grade premium,...Read More

Steel billet and rebar prices have remained stable in Egypt in the week ending Thursday January 7 because of low levels of market activity, market sources have told Fastmarkets.January 7 was the Coptic Christmas in Egypt, and trading was subdued in the days before the holiday.Market participants now wanted to see the direction that prices might move globally before placing orders.Demand for rebar...Read More

Turkish steel billet prices have increased over the past week due to rising imported scrap costs and despite limited demand, sources said on Thursday January 7.Most of the suppliers in the Commonwealth of Independent States (CIS) were out of the market at the moment for their year-end holidays.There are public holidays in Russia from January 1 to January 11. January 7 is the last official holiday...Read More

With special guest, Anthony Canale, global head of research at Covenant Review.James "Jim" Grant is an American writer and publisher and the founder of Grant's Interest Rate Observer, a twice-monthly journal of the financial markets. He is the author , most recently, of The Forgotten Depression: 1921: The Crash That Cured Itself. Grant's television appearances include "60 Minutes," "The Charlie Ro...Read More

Bitcoin has hit an all-time-high price, and our support desk has been inundated with questions from customers asking what Mike Maloney makes of this. In response, Mike has recorded two in-depth videos that answer the questions we are seeing the most: Is it too late to participate? Can Bitcoin go to zero? What other cryptocurrencies does Mike own? What is his strategy? All that and more in today's...Read More

With millions of people out of work, multiple months of rioting in the streets, and 4 people dead after a Whitehouse riot yesterday...you may be asking yourself how Main Street can be doing so poorly, while Wall Street continues to look "successful". And aside from that illusion of success being trillions of fake dollars simply printed into existence with no inherent value, the real picture is now...Read More

Was it "treason"? A "coup attempt"? What happened on Capitol Hill yesterday? There is plenty of speculation about out-of-control Trump supporters - and Federal prosecutors are champing at the bit to begin prosecuting. Were there violent infiltrators who led the charge? Were there any other strange factors that deserve attention? We take a look at some of the various reports and examine the questio...Read More