Domestic prices for hot-rolled coil in Europe continued to slide during the week to Friday June 5 amid low demand.Fastmarkets' daily steel HRC index, domestic, exw Northern Europe was calculated at ?,?398.75 ($450.26) per tonne on Friday, down by ?,?1.96 per tonne week on week and by ?,?24.25 per tonne month on month.Friday's index was calculated based on deals and workable prices heard at ?,...Read More
Workers at Italian flat steel producer ArcelorMittal Italia will go on strike on Tuesday June 9 to protest job cuts, presented as part of new industrial plan, Italian trade unions Fim, Fiom and Uilm said on June 6. ArcelorMittal presented a new industrial plan to the Italian authorities last week that included 5,000 job cuts, market sources told Fastmarkets. In early March this year, before the Co...Read More
Fastmarkets' weekly price assessments for the CIS export steel market will not be published on June 8 because of a public holiday in Ukraine. Instead, the prices will be published on June 9. The prices affected:CIS export cold rolled coil $ per tonne fob Black SeaCIS export hot rolled coil $ per tonne fob Black SeaCIS export heavy plate (10-50mm) $ per tonne fob Black SeaCIS export rebar $ per ton...Read More
Retail prices for rebar decreased in Egypt, with market participants expecting producer prices to follow down and in line, sources told Fastmarkets on Monday June 8.Rebar is now sold at E ?9,200-9,750 ($566-599) per tonne including 14% VAT in retail market, narrowing downward from E ?9,200-10,100 per tonne, Egyptian traders informed Fastmarkets.On May 21, Egypt's...Read More
Prices for steel rebar in Russia's Central Federal District around Moscow stabilized over the past week, while trading activity remained modest, sources told Fastmarkets on Monday June 8.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, including 20% VAT was at 31,500-32,000 roubles ($459-466) per tonne on Monday, same as last week.Buying was sti...Read More
The imported deep-sea scrap prices in Turkey have continued to move up with more deals heard in the market, sources said on Monday June 8.Turkish steel mills have been active in the deep-sea scrap markets for the past couple of weeks since the easing of Covid-19-related restrictions and improving domestic demand for steel products in Turkey.Three new scrap cargoes were heard late on Frid...Read More
Iron ore prices surged on Monday June 8 following Vale's suspension of its Itabira complex, despite its iron ore fines guidance being unchanged, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $105.67 per tonne, up $4.93 per tonne.62% Fe low-alumina fines, cfr Qingdao: $108.65 per tonne, up $5.41 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $94.53 per tonne, up $5....Read More
Exports of ferrous scrap from Japan jumped by 46.3% year on year in April amid strong demand from Vietnam and Taiwan, according to statistics from the East Asian nation's finance ministry. The country exported a total of 903,016 tonnes of scrap in that month, compared with 617,333 tonnes a year earlier.April's exports are the highest since May 2013; the country shipped 928,040 tonnes abroad in Apr...Read More
Technical analyst Clive Maund discusses the factors he sees weighing on precious metals in the near term. The precious metals sector is now set up for a correction that could be quite severe, which is evident on the charts, but also made more likely by the fundamentals where we see a return to "risk on" as a result of ongoing massive money injection by the Fed coupled with this being a seasonally...Read More
Rudi Fronk and Jim Anthony, cofounders of Seabridge Gold, discuss movements in the gold markets since the onset of the coronavirus pandemic. In mid-January, 2020, COMEX open interest (OI) set a new record of nearly 800,000 contracts. Swap dealers as usual supplied the market by going short 205,679 contracts on January 14, also a record. They probably expected to reduce their risk by purchasing ph...Read More
Greg Johnson, chairman and CEO of Metallic Minerals, talks with Maurice Jackson of Proven and Probable, about the Metallic Minerals' drill results, as high as 7,459 g/t silver, at the Keno Silver Project in the Yukon. Maurice Jackson: Joining us for our conversation today is Greg Johnson, of the Metallic Group of Companies. here to discuss some exciting updates that are occurring simultaneously a...Read More
The new company, Reyna Silver, holds projects in prolific mining districts that have been spun out from MAG Silver. Reyna Silver Corp. (RSLV:TSX.V) will complete a reverse takeover (RTO) with Century Metals Inc. and begin trading on Monday, June 8, on the TSX Venture Exchange, under the symbol RSLV.The explorer holds several properties, most notably the flagship Guigui as well as Batopilas, both...Read More
Fastmarkets' weekly price assessments for the CIS export steel market will not be published on June 8 because of a public holiday in Ukraine. Instead, the prices will be published on June 9. The prices affected:CIS export cold rolled coil $ per tonne fob Black SeaCIS export hot rolled coil $ per tonne fob Black SeaCIS export heavy plate (10-50mm) $ per tonne fob Black SeaCIS export rebar $ per ton...Read More
International trade protection measures continued to loom large over global steel markets over the past year - to which the impacts of the Covid-19 pandemic have created further challenges. Alongside Fastmarkets' annual ranking of steelmakers by output, our correspondents around the world review developments in their regional steel sectors Right now, most steelmakers will have much more on their m...Read More
China's rebar prices moved up in both the domestic and export markets on Monday June 8 amid rising concerns over iron ore supply from Brazil's Vale.Domestic Eastern China (Shanghai): 3,630-3,660 yuan ($512-516) per tonne, up by 30 yuan per tonneSpot rebar prices built on the early-hour gains of rebar and iron ore futures in response to news of Vale's Itabira mining operations being suspended towar...Read More
The Nasdaq hit another record highThe National Bureau of Economic Research (NBER) officially announced the U.S. entered a recession in February, resulting in the worst downturn since the Great Depression. The downturn ended a 128-month expansion, the longest in post-World War II history. Despite this grim news, stocks continued higher, as optimism over the reopening economy, particularly airline...Read More
AMC is set to report earnings after the close tomorrowAMC Entertainment Holdings Inc. (NYSE:AMC) will take its turn in the earnings confessional after the close tomorrow, June 9, posting its first-quarter results. The stock is getting a broad-market boost ahead of the event, up 8.8% to trade at $6.42 at last check, set to close atop the 150-day moving average for the first time in over a year. Sin...Read More
Plus, Cloudflare options are affordably priced at the momentThe shares of Cloudflare Inc (NYSE:NET) are down 1.1% to trade at $29.10 at last check, taking an extended breather from their May 15 all-time high of $30.78. In fact, NET has taken a 3.7% haircut in the last five trading days. The good news is that this pullback has brought the I.T. stock within a historically bullish trendline.Accordin...Read More
Calls are booming for the popular space tourism stockListed below are 20 stocks that have attracted the highest weekly options volume over the last 10 trading days thanks to data courtesy of Schaeffer's Senior Quantitative Analyst Rocky White -- who also highlighted new entrants in yellow. Standing out this week is Virgin Galactic Holdings Inc (NYSE:SPCE), a company that investors have kept a cl...Read More