The price of ferrous scrap imported into India continued to fall this week, in line with the drop in international scrap prices, sources told Fastmarkets.Fastmarkets' calculation of the steel scrap, shredded, index, import, cfr Nhava Sheva, was $296.51 per tonne on January 24, down from $313.61 per tonne on January 17. Deals for shredded material into India were heard at the beginning of the week...Read More
The Turkish steel mills ended the working week having purchased only one deep-sea cargo, because they were still struggling with sluggish rebar demand, sources said on Friday January 24.A steel mill in the Iskenderun region had booked a UK cargo, comprising 22,000 tonnes of HMS 1&2 (80:20) at $277 per tonne cfr, late on January 22, which sent the daily scrap indices down by $6.45 per tonne on Thur...Read More
A summary of Anglo American's production results for iron ore in the fourth quarter and full-year 2019, as well as production guidance for 2020, following the company's report released on Thursday January 23. The South African Kumba unit increased production on both comparisons due to the Sishen mine improving operational performance and the Kolomela mine - both mines are part of the Kumba un...Read More
Seaborne iron ore prices were rangebound on Friday January 24 while the week-long Chinese New Year holiday starts, but market participants who were still working believe that the outlook is bearish with the ongoing fears of the coronavirus not being contained.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.71 per tonne, up $0.27 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $92.75...Read More
Seaborne coking coal prices were unchanged on Friday January 24 in the absence of transactions, with the largest buyer in the spot market, China, starting its week-long public holiday for the Chinese New Year.Fastmarkets indicesPremium hard coking coal, fob DBCT: $152.29 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $162.73 per tonne, unchangedHard coking coal,...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points in pre-opening trade.The Canadian Dollar at U.S.76.20 cents was virtually unchanged at following release of November Canadian Retail Sales at 8:30 AM EST. Consensus was an increase of 0.6% versus a revised decline of 1.1% in October. Actual was an increase of 0.9%.Intel jumped $3.13 to $63.32 after reporting h...Read More
An overview of the minor metals markets and their latest price moves.Read More
Korea Zinc will stop refining selenium as a byproduct of copper ore now that market levels have made it unprofitable, the company confirmed to Fastmarkets."We are stopping selenium production temporarily due to poor market conditions. We have been losing money for a while with this metal," Kris Hans, assistant sales manager at Korea Zinc, said."We will resume production in a healthier market, but...Read More
The price of stainless steel flat products in the European domestic market was unchanged this week ahead of an expected, but moderate, rise in monthly surcharges for February, sources told Fastmarkets on Friday January 24. Finland's Outokumpu announced that it will raise the alloy surcharge for grade-304 stainless steel flat products for February by ?,?11 per tonne month on month to ?,?1,448...Read More
Key data from the pricing sessions in Europe, the United States and Asia for the week ending Friday January 24. Europe The high-carbon ferro-chrome market rose strongly with some producers reporting increased demand from some end consumers. Production cuts have led to a shortage of lower-priced material to parts of the market, while an increase in offer prices for Indian material has c...Read More
Demand dipped in Asia's ferrous scrap markets in the lead-up to major holidays in Vietnam and Taiwan, with steel mills scaling back purchases in preparation for the Lunar New Year.The downward trend for global scrap prices also dampened buying sentiment. Buyers have withdrawn from the market to wait for prices to bottom out.VietnamFastmarkets' weekly price assessment for bulk cargoes of steel scra...Read More
There was thin spot liquidity in the Singapore rebar import market this week due to the looming Lunar New Year holidays.The weekly Fastmarkets price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $455-465 per tonne for the week to Friday January 24, unchanged from a week earlier.There were n...Read More
Barrick Gold (TSX: ABX; NYSE: GOLD) and Tanzania have signed a deal that grants the African nation stakes in the three gold mines the company operates there, ending a long-running tax dispute and setting a template for negotiations with other firms.The arrangement comes three months after the two parties reached an agreement in which Barrick accepted to pay US$300 million to settle outstanding tax...Read More
The uranium spot price has hovered around US$25 ($32.86) per lb. over the better part of the last year and long-term pricing is at the US$32 per lb. level. The prolonged bear market and weak macro-environment continue to erode investor confidence in the primary uranium producers, which in some cases have curtailed output to trim operating costs and stem losses.Market stresses on uranium producers...Read More
In a letter to CEOs going to Davos, the World Economic Forum urges them to set a net-zero target of 2050 and to disclose their emissions publicly.Read full newsRead More
Precious metals and miners are consolidating before their next advance. Gold could reach $1700+ by March, and we see explosive potential in silver.Read full newsRead More
Precious metals and miners are consolidating before their next advance. Gold could reach $1700+ by March, and we see explosive potential in silver.Read full newsRead More
"CORRECTED (OFFICIAL)-Russia's Potanin buys partner's stake in copper and gold mine near China https://t.co/RQwgauPJ4b"Read full newsRead More
"CORRECTED (OFFICIAL)-Russia's Potanin buys partner's stake in copper and gold mine near China https://t.co/Fn1ATp3J5E"Read full newsRead More
"$IBKR - Interactive Brokers Posts A Solid Quarter Despite Increasing Industry Competitiveness. https://t.co/tfaxZCxpHf #stockmarket #business #investing"Read full newsRead More