Chinese non-ferrous scrap importers largely stayed on the sidelines during June, with a lack of detail surrounding China's renaming of certain scrap metal as renewable materials causing participants to refrain from making any purchases. "Today is the last day of June and nothing new on customs codes and inspection procedures has been released from Chinese customs yet," an industry source said. The...Read More

Here are five Fastmarkets stories you might have missed on Tuesday June 30 that are worth another look.The definitive decision in the European steel safeguard case review failed to adjust the level of quotas to collapsed demand following Covid-19 crisis and is a "deep disappointment," European steel association Eurofer and European trade union IndustriAll said in a joint statement on June 30.Chine...Read More

Solgold is set to take 100% control of its Ecuador copper-gold mine named Alpala, with the latest buy-out attempt from a company that holds a minority stake in the project, Fastmarkets understands.Solgold commenced an offer to buy all shares of Cornerstone Capital Resources, which holds a 15% stake in the Alpala project, Solgold said on Tuesday June 30. Alpala, located in the...Read More

Asian-Pacific equities and pre-market major western equity index futures were stronger this morning, Tuesday June 30, while base metals prices were for the most part firmer too - this despite Federal Reserve chairman Jerome Powell saying the US economy faces "extraordinary uncertainty". China's manufacturing purchasing managers' index (PMI) climbed to 50.9 in June, from 50.3 in May, but Japan's in...Read More

Albert Camus opened his book The Stranger by writing:My mother died today. Or maybe yesterday, I don't know. I received a telegram from the old people's home: "Mother deceased. Funeral tomorrow. Very sincerely yours." That doesn't mean anything. It might have been yesterday.Camus was a Frenchmen with an absurdist philosophy that's akin to existentialism. The Stranger was first published in Nazi-oc...Read More

The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trade logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt alloy...Read More

The cobalt standard grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trade logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt standard...Read More

Today in the INK Market Report, we highlighted the bull market in Canadian junior mining stocks. While the North American economy may be challenged to put in a V-shaped recovery, Canada's Venture market appears to be succeeding with that letter of the alphabet. The S&P/TSX Venture Index jumped 5.6% last week and the Index is now up year-to-date. Money is clearly moving into the sector, pushing up...Read More

After market feedback, Fastmarkets MB is extending the consultation period for the proposed amendment to its cobalt hydroxide payable indicator and index. The two prices that would be affected by the amendment are: MB-CO-0021: Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low end)  MB-CO-0020: Cobalt hydroxide index...Read More

Here are five Fastmarkets stories you might have missed on Tuesday June 30 that are worth another look.The definitive decision in the European steel safeguard case review failed to adjust the level of quotas to collapsed demand following Covid-19 crisis and is a "deep disappointment," European steel association Eurofer and European trade union IndustriAll said in a joint statement on June 30.Chine...Read More

Domestic prices for hot-rolled coil in Northern Europe increased day on day on Tuesday June 30, despite the slow pace of demand recovery, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?396.88 ($446.38) per tonne on Tuesday, up by ?,?1.88 per tonne from ?,?395.00 per tonne on June 29.Tuesday's index was based on "wor...Read More

Hot-rolled coil import prices in the United Arab Emirates and Saudi Arabia have decreased this week while hot-dipped galvanized coil prices have widened upward, with demand better than in previous weeks, sources told Fastmarkets on Tuesday June 30.Some deals for hot-rolled coil (HRC) were heard from India to the UAE.UAEOffer prices for HRC from China were heard in the UAE at $470 per tonne cfr, bu...Read More

After dwindling throughout 2019, Turkish exports of reinforcing bar to the United States surged during the first half of 2020; Fastmarkets examines the domestic and global factors that limited those shipments - and drove their return.Turkish rebar exports to the US through the first six months of 2020 reached 231,569.9 tonnes, accounting for 44.4% of the total 521,002 tonnes of rebar shipped to US...Read More

The prices paid for steel rebar and billet in the United Arab Emirates were mostly stable this week but demand is still moderate, market sources said on Tuesday June 30.Some steel rebar import deals were heard from Oman during the week, with the price for rebar imports rising in the country, sources said.Domestic rebarLocal mills in the UAE were offering rebar at 1,770-1,774 dirhams ($482-483) per...Read More

The European Commission (EC) has toughened the existing safeguard measures on imports of steel products in the second review of the matter, it said on Tuesday June 30.The reviewed measures will come into force from July 1, 2020, and will remain in place for one year.The EC introduced two general adjustments to the quota system, intended to guarantee an orderly return to the market of all suppliers...Read More

Demand for physical delivery through the COMEX futures market continues, and this has significant implications for the future of the current fractional reserve and digital derivative pricing scheme.It's now mid-summer and the July COMEX contracts have moved into their delivery phase. The numbers are as amazing as they are historic, thus this updated summary is necessary today.Back in late March,...Read More

Dave KranzlerThe precious metals sector - gold, silver and mining stocks - is in the early stages of a rabid bull market. The mainstream media has been dead silent on the performance of the precious metals, which is not a surprise to those of us who have been involved in the sector since 2001, when gold bottomed at $250, silver was around $4 and the HUI index was at 45.Since September 2018, go...Read More

Bill Murphy, co-founder of the Gold Anti-Trust Action Committee (GATA.org,) returns to Liberty and Finance / Reluctant Preppers to answer viewers questions on the metals markets and what we must do to get positioned ahead of the next major move for Gold & Silver. Get your Free Two Week Trial Subscription to Bill Murphy's Daily Gold and PM Markets commentary at https://www.lemetropolecafe.com.Read More

Stewart Thomson, Graceland Updates 1. Investors ignore cycles... at their peril. When I calmly suggested that a key virus cycle year of 2020 would see a "carpet bombing" of markets, most investors were not listening to the cyclical message of the markets.2. Sadly, they were wasting time watching the government try to rebuild the American empire with Fed photocopiers, FATCA...Read More

Jordan Roy-Byrne CMT, MFTA Gold has broken out from a two-month-long consolidation (from $1680 to $1770), but the other precious metals markets have not confirmed Gold's strength.The gold stocks (GDX, GDXJ) remain below their May highs while Silver remains below significant, multi-year resistance around $18.75. Silver closed Monday at $18.06.Furthermore, Gold, when priced against foreign currenc...Read More