The price of ferrous scrap imported into India moved up this week, as the bellwether Turkish market staged a recovery, sources told Fastmarkets on Friday February 14.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $286.96 per tonne on Friday, up from $284.44 per tonne one week ago - the first upwards movement for several weeks.There were no deals heard f...Read More
Turkish steel producers have continued their deep-sea scrap purchases for March shipment at slightly higher prices at the end of the week, sources told Fastmarkets on Friday February 14.A steel producer in the Izmir region booked a Baltic Sea cargo of 20,000 tonnes of HMS 1&2 (80:20) at $274 per tonne cfr.A steel mill in the Marmara region booked a US cargo comprising 20,000 tonnes of HMS 1&2 (80:...Read More
With no let-up in the number of coronavirus (2019-nCov) infections in China, the market is this morning, Friday February 14, waiting for signs that the virus is being contained. In the meantime, it seems as though equities are riding high on the back of China monetary stimulus measures, while the metals markets are more aware that the disruption to production and demand will have a mixed impact co...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Very few people would disagree that the future of personal transportation is the electric vehicle.And in all likelihood they're absolutely right. Every major automaker is moving in that direction.But there's a bit of a catch...The transition from gasoline and diesel to electric vehicles is going to take much longer than Tesla or any of the Elon Musk fanboys are leading you on to believe.If you bel...Read More
China's battery-grade lithium hydroxide price was supported at current levels this week after some producers announced plans to increase prices to cover higher transport and production costs resulting from containment policies for the novel coronavirus (2019-nCoV) in China. Some Chinese lithium hydroxide producers plan to increase prices due to higher operational costs, supporting the spot price.&...Read More
The US administration is doing all it can to juice stock markets ahead of November. We have all seen the US president pressure the US Federal Reserve into cutting rates and doing QE. However, what is less understood is the role that the US Treasury is playing behind the scenes by forcing the Fed's hand via active management of its General Account. We learned all about the tricks that the US Trea...Read More
Import prices of flat steel products in South America fell this week amid lower offers from China and strong pressure from buyers.Fastmarkets assessed the price for steel hot-rolled coil, import, cfr main ports South America at $515-560 per tonne on Friday February 14, widening down from $530-560 per tonne a week earlier.Offers of HRC material from China were reported at the lower end of $515 per...Read More
Brazilian domestic flat steel prices increased this month, while producers have already started negotiating a second price increase for March.Fastmarkets' price assessment for steel hot-rolled coil domestic monthly, exw Brazil was 2,470-2,610 Reais ($575-607) per tonne on Friday February 14, up from 2,245-2,425 Reais per tonne on January 3.The assessment for steel cold-rolled coil domestic monthly...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Friday February 14 following the rise seen earlier this week, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe was ?,?479.34 ($520) per tonne on February 14, up by ?,?0.03 per tonne from ?,?479.31 per tonne on February 13 and up by ?,?7.67 per tonn...Read More
Polish domestic rebar prices moved down over the past week due expectations of a decrease in the price of scrap, market sources told Fastmarkets on Friday February 14.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, ex-works Poland, fell to 2,050-2,150 zloty ($524-549) per tonne on February 14, down by 50-100 zloty...Read More
Indian domestic secondary billet prices have fallen by 800 rupees ($11) per tonne week on week on reduced demand from long product makers and oversupply of semi-finished products in the market, sources told Fastmarkets on Friday February 14.Fastmarkets assessed steel billet domestic, ex-works India, at 28,600-28,800 rupees per tonne on Friday, down 800 rupees from 29,400-29,600 rupees per tonne ex...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transaction: rebarRebar East China, domestic, grade...Read More
The market for pig iron exports from the Commonwealth of Independent States (CIS) was stronger than buyers expected during the week ended Thursday February 13 despite low availability, sources have told Fastmarkets."Demand is higher than supply now, so we do not intend to reduce the price any further," one exporter said.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 356,53548,56159,263181,629519,420597,427627,244 Change from Prior Reporting Period 626-7,542-1,9494,84310,9473,5201,456 Traders 23268745453311174 Small Speculators LongShortOpen Interest 60,59730,780658,024 -681,9963,452 non reportable positionsChange fro...Read More
Rob Kirby What has happened to our capital markets? The reactions to the onset of a global pandemic in our capital markets are, for the most part, fundamentally counter- intuitive and, in my opinion, will not continue. Incapacitating the second largest and fastest growing economy in the world is no reason to "buy stocks" into record territory or conduct fire sales of precious metals. If yo...Read More
By: Ira EpsteinDaily gold chart now back in control of the gold market after a new higher-high. Resistance around $1,592 Bollinger upper band.Read More
Pig iron buyers in the United States have resumed purchasing material but at lower prices amid the weak scrap market, sources told Fastmarkets on Friday February 14.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $334-336 per tonne on Friday, down from $340-345 per tonne cfr a week before.One booking for around 50,000 tonnes of CIS-origin pig iron...Read More
The inter-merchant spot market for light iron scrap in the UK was steady in the week ended Friday February 7, stabilizing after falling more than 11% in the prior week, with higher export prices from Europe this week supporting domestic British prices, sources told Fastmarkets.Fastmarkets' weekly price assessment of steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?70-9...Read More
Positive sentiment in the CIS export billet market supported by the recent rebound in import scrap prices in Turkey has failed to spark much trading activity in the week to Friday February 14, sources told Fastmarkets.Most customers preferred to adopt a wait-and-see approach without placing bids, they said."Long steel products are not selling well, therefore customers are cautious about purchasing...Read More