Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Tuesday October 23.Base metals prices on the Shanghai Futures Exchange were mostly down during Asian morning trading on Tuesday amid a firmer dollar and ongoing trade tensions, with only tin prices recording significant gains. Check Fastmarket MB's live futures report here.Prices for China-ori...Read More
News of another Turkish deep-sea scrap cargo booking was reported to Fastmarkets' MB on Tuesday October 23, resulting in an increase to the Turkish scrap price.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising of 17,000 tonnes of HMS 1&2 (80:20) at $330 per tonne, 5,000 tonnes of shredded at $335 per tonne and...Read More
Australian iron ore prices firmed up on Tuesday October 23 supported by limited availability, while there were softer prices for Brazilian material.MB 62% Fe Iron Ore Index: $74.31 per tonne cfr Qingdao, up by $0.51 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.34 per tonne cfr Qingdao, up by $0.51 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.70 per tonne cfr Qingdao, down by $0.30 per...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. ...Read More
Seaborne coking coal prices remain underpinned amid concerns about supply in the domestic Chinese market, participants said.An accident at a coal mine in Shandong province in northeast China recently is expected to increase safety checks at mines, participants said."While the inspections are likely to affect mines producing semi-hard or similar quality materials, however, the sentiment is that suc...Read More
China's ferrous futures were mixed during morning trading on Tuesday October 23, with steel contracts ending the session slightly lower than their opening prices while those for coke and coking coal ended higher.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,150 yuan ($598) per tonne, down 11 yuan per tonneJanuary hot rolled coil: 3,877 yuan per tonne, down 18...Read More
Global ferrous scrap availability will hit the billion-tonne mark by 2030, largely driven by China, according to World Steel Association (Worldsteel) director general Edwin Basson.This will be an increase of about 33% from the 750 million tonnes available globally this year, of which 630 million tonnes have been forecast to be recycled by the global steel and foundry casting industries, he told Fa...Read More
Base metals prices on the London Metal Exchange were broadly lower during morning trading on Tuesday October 23, hampered by broad risk-aversion amid a two-year low in European stock indexes while a firm US dollar index continues to limit price rallies. Topping losses over the morning, the three-month copper price edged back below $6,200 per tonne despite a continued trend of stock outflows and fr...Read More
China's hot-rolled coil prices fell on Tuesday October 23 amid sparse trading, dragged down by weak demand, sources told Fastmarkets MB.DomesticEastern China (Shanghai): 4,190-4,210 yuan ($604-607) per tonne, down 10-20 yuan per tonneNorthern China (Tianjin): 4,090-4,100 yuan per tonne, down 10 yuan per tonneTrading activity fell in comparison with that on Monday, sources said.The drop r...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday October 23 *Copper -$114.62 (-797.36 yuan)Aluminium -$437.03 (-3,040.10 yuan) Zinc -$78.91 (-548.90 yuan) Nickel $452.47 (3,147.49 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
The latest selenium transactions, bids, offers and assessments in Europe reported to Fastmarkets MB.Unless otherwise stated, all prices are per lb on an in-warehouse Rotterdam basis. Delivered prices are netted back.To view the latest price quotation, click here.To see all Fastmarkets' pricing methodology and specification documents go to https://www.metalbulletin.com/prices/pricing-methodolo...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker on the morning of Tuesday October 23, with losses averaging 0.4% - the exception being tin where prices were up by 0.1%.Zinc led the rest of the complex downward with a fall of 1.2% to $2,625 per tonne, while copper was down by 0.7% at $6,183 per tonne.The precious metals were split this morning with gold and...Read More
Subscribe & "Click the Bell" for more Great Shows!Links to "The Dog House" Live! Show. Join our Discord chat room belowChat Room ---------------------https://discord.gg/UKhQXrpThe Underground--------------- https://canund.com/u/ReaBow/bioMain Live Platform ---- https://dlive.tv/reabowReaBowTwitter------------------ https://twitter.com/1reabow1Show Skype------- sundaylongliveEmail ---------- sunday...Read More
After the tragic late-September 2018 attack at Continental Gold's (TSX:CNL) Berlin project in northwestern Colombia, where three employees were murdered, its stock was pummeled by the market to see it down by 32% for the year to date. Even gold's recent rally, which saw it climb to over US$1,220 an ounce, has failed to breathe life into the junior gold miner's share. While the incident has justifi...Read More
Elijah Johnson invited me onto the Silver Doctor's precious metals podcast to discuss why mining stocks are historically cheap and why an expected crash in the stock market will be accompanied by a soaring precious metals sector. We also discuss why Trump is beating up the Fed over rate hikes:Note on my Mining Stock Journal. I mentioned a highly undervalued intermediate gold and silver produce...Read More
For the past few years, homeowners just about everywhere have been able to finesse life's problems by thinking "at least my house is going up." This home equity accretion allowed them to buy stuff on credit, safe in the knowledge that even as they maxed out yet another credit card their net worth continued to rise. They felt smart and confident, in other words, and so continued to behave in ways t...Read More
For the past few years, homeowners just about everywhere have been able to finesse life's problems by thinking "at least my house is going up." This home equity accretion allowed them to buy stuff on credit, safe in the knowledge that even as they maxed out yet another credit card their net worth continued to rise. They felt smart and confident, in other words, and so continued to behave in ways t...Read More
An example of the bonanza-grade gold at the Beta Hunt Mine in Australia. Source: RNC Minerals.RNC Minerals Corp. [RNX-TSX] on Wednesday said gold production at its Beta Hunt gold mine in Australia reached record levels in the third quarter of 2018.The company said production of 31,360 mine gold ounces in the quarter marked a 199% increase compared to the third quarter of 2017. That brought product...Read More
TORONTO - Canada's main stock index posted a triple-digit decline, led lower by the materials and financial sectors, while the loonie traded higher in the wake of an interest rate hike by the Bank of Canada.The S&P/TSX composite index was down 203.32 points at 15,081.85 in morning trading.In New York, the Dow Jones industrial average was down 123.52 points at 25,067.91. The S&P 500 index was down...Read More