The China Solid Waste and Chemicals Management Bureau will allow up to 275,465 tonnes of aluminium scrap shipments into the country in the first batch of import quotas for 2020. The volume is significantly higher than for December, which was set at 9,844 tonnes of aluminium scrap - down from 13,770 tonnes in the previous quota. This, in turn, was less than the 44,935 tonnes issued in October....Read More
Zinc was the worst performer at the London Metal Exchange 5pm close on Monday December 23, while the other base metals consolidated in quiet market conditions. The three-month zinc price closed 2% lower at $2,291 per tonne, due to weak fundamentals triggering a sell-off. The metal has been retreating after it failed to stabilize above $2,300 per tonne last week. "The stronger than expected sell-o...Read More
Recylex has placed three companies including German primary smelter Weser-Metall up for sale, with the European lead producer forced to offload assets to reduce outstanding debts of ?,?200 million ($221.4 million)."The group is working on the disposals of PPM Pure Metals GmbH, for which it has already received expressions of interest, Norzinco GmbH and Weser-Metall GmbH," it said in a statement la...Read More
Recylex has placed three companies including German primary smelter Weser-Metall up for sale, with the European lead producer forced to offload assets to reduce outstanding debts of ?,?200 million ($221.4 million)."The group is working on the disposals of PPM Pure Metals GmbH, for which it has already received expressions of interest, Norzinco GmbH and Weser-Metall GmbH," it said in a statement la...Read More
Jack ChanPosted Dec 23, 2019Gold sector as represented by $HUI is on a long-term BUY signal.Long-term signals can last for months and are more suitable for investors.Gold sector as represented by $HUI is on a short-term sell signal.Short-term signals can last for weeks and are more suitable for traders.Speculation remains high despite the recent pullback.Speculation is at a reasonable level to res...Read More
China imported 210,000 tonnes of alumina from the seaborne market in November, down from 240,000 tonnes in October, butconsiderably higher than the 150,000 tonnes shipped in September when the import arbitrage window opened, according to Chinese customs data released on Monday December 23.China imported a total of 1.24 million tonnes of alumina from January to November, up 170% from the 460,0...Read More
Montr?(C)al, QC - Siyata Mobile Inc. (TSX-V:SIM | OTCQX: SYATF) (the "Company" or "Siyata") is pleased to announce it has closed its previously announced brokered private placement (the "Offering") with co-lead agents, PI Financial Corp. and Canaccord Genuity Corp. (collectively, the "Co-Lead Agents"), and with Paradigm Capital Inc. and Beacon Securities Limited (together with the Co-Lead Ag...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday December 20. Europe Key drivers European silicon spot prices continued momentum from previous weeks. The metal is closing the year in a positive mood after constant falls in the second and third quarters of 2019. Trading has slowed slightly down ahead of the holiday but European sources...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday December 20.ChinaKey drivers The price of antimony, MMTA standard grade II, ddp China, continued to drop for the seventh consecutive week in the latest assessment period ended Wednesday December 18, as suppliers cut offer prices further amid scant buying interest.Some suppliers lowered prices in an effort to sell off stock...Read More
By: Gary SavageGold is churning, not doing a whole lot of damage, except to gold investors' mental state. We are now 3 1/2 months into the sideways churn. A market bouncing back and forth from overbought and oversold...http://blog.smartmoneytrackerpremium.com/Read More
Friday's subdued rally had more than a faint whiff of distribution about it. DaBoyz had shorts on the run in the early going, with the Dow up about 230 points in the first hour. But instead of reaming bears a new orifice as we might have expected, the erstwhile Masters of the Universe struggled merely to maintain altitude and eventually had to close the broad averages well off their intraday h...Read More
Look for signs of profit taking in all metals and energies as traders leave for Christmas and New Year vacations. China will lower trade tariff on a host of products ranging from pork to some type of semi-conductor. Gold and silver should fall as a result of Chinese move. Right now gold and silver are firm due to Trump and his impeachment. But they will be vulnerable to sharp correction any time...Read More
The China Solid Waste and Chemicals Management Bureau will allow up to 275,465 tonnes of aluminium scrap shipments into the country in the first batch of import quotas for 2020. The volume is significantly higher than for December, which was set at 9,844 tonnes of aluminium scrap - down from 13,770 tonnes in the previous quota. This, in turn, was less than the 44,935 tonnes issued in October....Read More
The ferrous scrap market in the United States might be calmer in 2020, with metals recyclers potentially facing less volatility and price declines than in 2019, which could present a unique set of opportunities for buyers and sellers.Market participants do not expect the steep decline in prices that characterized the market in 2019 to reoccur due to the extent of that drop. Fastmarkets' asses...Read More
Turkish domestic auto bundle scrap prices continued to push up this week in line with rising imported scrap values, sources said on Monday December 23.Two steel mills raised their buy prices for auto bundle scrap by 60 Turkish lira ($10) per tonne in response to the rising imported scrap costs.Fastmarkets' daily index for steel scrap, HMS...Read More
Oil and gas stocks have mostly underperformed in 2019, as commodity prices floundered amid an increase in supplies.Crude oil averaged about $63.50 per barrel this year - 9% lower than the average price in 2018 of almost $70 per barrel. Meanwhile, natural gas struggled even more.Natural gas prices have averaged 18% lower in 2019 than they were last year.As a result, the energy sector was one of the...Read More
The European Commission (EC) is planning to again review its safeguard measures for hot-dipped galvanized (HDG) flat steel destined for the automotive sector, market sources told Fastmarkets this week.In the definitive measures for metallic-coated sheets (product category 4), the EC split the product category into two sub-categories, 4A and 4B, with the automotive sector mainly consuming...Read More
The export market for hot-rolled coil and cold-rolled coil from the Commonwealth of Independent States was strong ahead of the holiday period, sources told Fastmarkets on Monday December 23.Fastmarkets' weekly price assessment for steel HRC, export, fob Black Sea was $460-475 per tonne on Monday, widening upward from $460-470 per tonne a week earlier.Offers for Russia-origin HRC were heard at...Read More
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Overcapacity in the global steel sector has been an issue for many years, but has intensified in the recent years, according to Ankur Dana, chief executive officer of Dubai-based multinational Dana Group .Global overcapacity causes steel prices to fall, so governments should only approve new capacities if there is need, Dana said at Fastmarkets' Middle East Iron and Steel Conference in Dubai on De...Read More