Imported flat-rolled steel and plate prices and volumes both dropped year on year in the United States, Fastmarkets has learned, while shipments of foreign semi-finished steel soared in January and domestic markets saw further softness.Imported prices have decreased, following the negative trend of global commodity prices - especially as concerns around the Wuhan coronavirus rise, market participa...Read More
By: Chris MarcheseChief Mining Analyst at GoldSeek & SilverSeekTicker: FSM (NYSE), FVI (TSX)Shares Outstanding: 160.2m (Basic), 164.5m (Fully Diluted)52 Week High-Low: $4.59-$2.39(2/05/2020) Fortuna Silver, one of the stalwarts amongst primary silver producers is now in the transition phase from deriving roughly and equal amount of revenue...Read More
By: Gary SavageBull market patterns repeat themselves. Giving up when frustrated, giving up right before the up moves..https://blog.smartmoneytrackerpremium.com/Read More
By: Ira EpsteinGold bouncing with a stock market, literally on fire! So where are we in these metals? Read More
Central banks believe that by injecting additional liquidity everything will be fine. Interest rate cut is the buzz word this year. The purchasing power of your national currency will rapidly fall on every massive liquidity injection. Use sharp dips to invest in gold for the long term. Corona virus is spreading with passing of each day. Numbers of deaths are rising each day in China. Numbers of...Read More
European buyers of domestic hot-rolled coil were mainly in "wait-and-see" mode on Thursday February 6, unwilling to risk purchasing big volumes amid potential import competition, sources told Fastmarkets.Fastmarkets' steel hot-rolled coil index, domestic, ex-works Northern Europe was calculated at ?,?470.18 ($515.93) per tonne on Thursday February 6, down by ?,?5.73 per tonne from ?,?475.91 per to...Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Thursday January 6, with price action holding above the nearby $13,000-per-tonne support level against a seven-day low in daily trading volumes, while zinc futures similarly held ground. Nickel's outright price on the LME settled at $13,060 per tonne this afternoon, with turnover low at just over 5,400 l...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 6 that are worth another look.Chinese domestic prices suffer heavy falls on building steel inventory levels and persistent first-quarter demand worries, with rebar facing the toughest challenge.Chinese copper smelter Guangxi Nanguo has recently declared force majeure on shipments of copper concentrates, citing logistic...Read More
Tight spot availability, mainly resulting from the extended Chinese New Year holiday, as well as transportation disruptions during the Wuhan coronavirus outbreak have underpinned the cobalt sulfate price in China. Fastmarkets' price assessment of cobalt sulfate 20.5% Co basis, exw China rose to 52,000-53,000 yuan ($7,456-7,600) per tonne on Wednesday February 5, up 4% from 50,000-51,000 yuan per t...Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Thursday January 6, with price action holding above the nearby $13,000-per-tonne support level against a seven-day low in daily trading volumes, while zinc futures similarly held ground. Nickel's outright price on the LME settled at $13,060 per tonne this afternoon, with turnover low at just over 5,400 l...Read More
Seaborne iron ore prices rose on Thursday February 6 amid concerns that a new cyclone will affect shipments from Western Australia, while Chinese port prices fell because of limited spot demand.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $83.17 per tonne, up by $1.86 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $82.50 per tonne, up by $2.35 per tonne. 62% Fe low-alumina fines, cfr...Read More
Seaborne coking coal market was largely quiet on Thursday February 6, although Canadian miner Teck Resources said it was expecting to sell fewer cargoes in the first three months of this year.Fastmarkets indicesPremium hard coking coal, fob DBCT: $150.65 per tonne, down $0.04 per tonnePremium hard coking coal, cfr Jingtang: $158.85 per tonne, down $0.21 per tonneHard coking coal, fob DBCT: $127.01...Read More
"It's all happening, right now as we speak!"by Bix Weir of Road to RootaLooks like JP Morgan is FINALLY being exposed as the engine behind Silver Price Manipulation for OVER A DECADE! WHY is this being leaked now? I think I know! Hang on tight. Read More
Logistics constraints caused by the transport system lockdown in China, imposed to contain the Wuhan coronavirus outbreak, were pushing European prices upward with inventory levels falling in Rotterdam.At the same time, the delays were adding to the pressure on traders which need to restock. Chinese material was not expected to arrive in European ports at least until March, Fastmarkets understands...Read More
Fastmarkets MB has corrected its weekly price assessment for steel billet imported into Turkey, which was published incorrectly on Thursday February 6 due to a reporter error.Fastmarkets' weekly price assessment for MB-STE-0116 steel billet, import, cfr main port Turkey, was originally published at $375-385 per tonne. This has now been corrected to $390-400 per tonne.Fastmarkets MB's price book an...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 6 that are worth another look.Chinese domestic prices suffer heavy falls on building steel inventory levels and persistent first-quarter demand worries, with rebar facing the toughest challenge.Chinese copper smelter Guangxi Nanguo has recently declared force majeure on shipments of copper concentrates, citing logistic...Read More
Copper fabrication businesses across China remained on extended closure and were expected to restart operations gradually from Monday February 10 at the earliest, but normal functioning was not expected until the end of February or early in March, Fastmarkets has learnt.China's public holiday for the lunar new year was initially to run for a week from January 24, but it was extended by the Chinese...Read More
The three-month zinc price on the London Metal Exchange was lower during morning trading on Thursday February 6, witha fresh inflow of some 3,475 tonnes pressuring its price action, while copper was little moved despite a fresh cancellation of 10,250 tonnes.Zinc's outright price on the LME was recently trading at $2,192 per tonne, a drop of 1.2% from Wednesday's closing price of $2,213 per tonne.&...Read More
The London Metal Exchange has opted to keep its traditional open-outcry format for closing prices after receiving negative feedback from its electronic nickel trial, the exchange said in a note to members on Wednesday February 5.With the decision made not to permanently change its closing price process, the LME's trade-at-settlement function (TAS), which allows participants to buy or sell a contra...Read More
The broad-based rally across markets continues with investors focusing more on the improving economic data than they are on the uncertain economic impact of the Wuhan coronavirus (2019-nCoV). Claims by Chinese media that a treatment for the virus had been found fueled the rallies yesterday, but the World Health Organization talked down the news.Asian equity indices up either side of 2% this mornin...Read More