The Turkish deep-sea scrap markets started the week quietly with many market participants absent for the week-long post-Ramadan public holiday of Eid al-Fitr, sources said on Monday June 3.The market was expected to be almost inactive for the rest of the week. The holiday marks the end of the period of abstinence for Ramadan.The latest known trade was heard late on...Read More

Markets are nervous after US President Donald Trump opened up the possibility of another front in the trade wars, this time with Mexico. Today's manufacturing purchasing managers' index (PMI) data is likely to set the tone.Trade war rhetoric escalates with Mexico now in focus Equites continue to show weakness while haven assets shineChina's Caixin manufacturing PMI holds steady; more PMI data out...Read More

The price of gold rose this morning to its highest levels in over two months, as trade disputes between the United States and China continue to mount and fears grow that Trump's tariffs on Mexico will slow the global economy.At last look, gold for August delivery was trading up 0.79% today at $1,321.50 per ounce.Following warnings that it would begin blacklisting foreign companies from the country...Read More

The Monday Market Minute Global stocks extend declines as trade, growth and politics keep investors on the sidelines of risk markets around the world.China digs in for a prolong trade battle with the U.S., with a stance that could see American firms targeted by Beijing, while President Trump pushes Mexico to address the southern border and the region's growing immigration crisis.European stocks...Read More

After briefly stabilizing at a recent high of $16.35-17.05 per lb following a rise since late March, the standard-grade cobalt benchmark price started to retreat in mid-May amid slowing consumer demand and sellers' profit-taking.Price moves Fastmarkets' standard-grade metal benchmark price fell 4.5% to $15.35-16.10 per lb on May 29, following several mild drops at the beginning of May after some s...Read More

It's beginning to look a lot like a steel market downturn. Fastmarkets examines whether that trend is confined to steel - or whether the broader global economy is in trouble.Hot-rolled coil prices have begun reflecting trends not seen since the 2008 global financial crisis and its aftermath - the Great Recession. Fastmarkets has taken the pulse of markets in the United States, Europe, China a...Read More

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK Canadian Insider Index initially made an attempt to move above 1100 but quickly renewed its downward slide. The Index closed at its lowest point since late January, falling 0.9% or 10.6 points to 1078.56.MACD fell 0.9 to -2.93. RSI fell 1.35 to 27.33. And here, we note...Read More

The export market for hot-rolled coil and cold-rolled coil from the Commonwealth of Independent States (CIS) was silent in the week to Monday June 3 ahead of Eid al Fitr celebrations in key destinations.Fastmarkets' weekly price assessment for HRC exports from the CIS was $475-490 per tonne fob Black Sea on June 3, narrowing upward from $470-490 per tonne fob a week earlier."The market w...Read More

Demand for flat steel in Turkey improved in May especially in the export market, after the United States halved its import tariffs for Turkish steel to 25%, market participants told Fastmarkets. And local producers have now filled their order books until August, they said on Friday May 31. Turkish steel prices also began to increase from May 17, when the US duties wer...Read More

Merchant bar quality (MBQ) steel prices in the United States have receded after late-April's mill cuts, while market sentiment overall remains weak for much of the country. Fastmarkets AMM assessed domestic 2- x 2- x 1/4-in angle merchant bar at a 12-month low of $35.80 per hundredweight ($716 per short ton) fob mill on Friday May 31, down by 3.4% from $37.05 per cwt previously and off by 5.9...Read More

Rebar suppliers have increased their prices for buyers in Russia's Central federal district, the major steel-consuming region in the country, on an improvement of the export billet market in late May.Fastmarkets' weekly price assessment for domestic 12mm A500C rebar in Russia, including 20% VAT, was 40,000-40,500 roubles ($611-618) per tonne cpt Moscow on Monday June 3. This was up from 39,000-39,...Read More

A 50:50 joint venture between Luxembourg-based trader/steel producer Duferco and United States steelmaker Nucor Corp has announced plans to build a ?,?150 million steel beam rolling mill in Brescia, Northern Italy.The Duferdofin-Nucor mill is expected to be fully operational by mid-2022 and will have an annual production of more than 1 million tonnes of...Read More

The Turkish deep-sea scrap markets started the week quietly with many market participants absent for the week-long post-Ramadan public holiday of Eid al-Fitr, sources said on Monday June 3.The market was expected to be almost inactive for the rest of the week. The holiday marks the end of the period of abstinence for Ramadan.The latest known trade was heard late on...Read More

Seaborne iron ore prices retreated below $100 per tonne cfr China on Monday June 3 amid declines in the futures and steel markets.MB 62% Fe Iron Ore Index: $99.12 per tonne cfr Qingdao, down $2.48 per tonne. MB 62% Fe Pilbara Blend Fines Index: $97.60 per tonne cfr Qingdao, down $2.48 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $102.57 per tonne cfr Qingdao, down $2.96 per tonne. MB 58% Fe Pr...Read More

By: Daniel R. Amerman, CFA Sifting through the minutes of the Federal Open Market Committee (FOMC) to look for signals of changes in policy is a fixation for the financial media and the investment industry. Because both the stock and bond markets can reverse directions based upon the Fed's intentions for the direction of Fed Funds rates, there is an intense focus on finding signals for those in...Read More

Gold's $30 run-up over the last two sessions is the sharpest we've seen in a while. Was it just a knee-jerk reaction to continuing weakness in U.S. stocks? Probably. But we'll keep a close eye on it nevertheless, since gold sentiment is so negative, sometimes verging on despair. Many investors who have followed bullion's bear market closely since prices peaked eight years ago just above $1900 se...Read More

By: Ira EpsteinGold came alive as the markets brought rates down. Gold still very much sideways on long-term view. It has been a long time!Read More

Seaborne iron ore concentrate and pellet prices continued to increase last week but trading remained fairly inactive.ConcentrateThe weekly Fastmarkets MB 66% Fe Iron Ore Concentrate Index stood at $118.10 per tonne cfr China last Friday on May 31, up by $2.31 per tonne week on week.The daily Fastmarkets MB 65% Fe Iron Ore Index averaged $120.58 per tonne cfr China last week, compared with an avera...Read More

The optimism in the Commonwealth of Independent States (CIS) export billet market has faded after the news of the reduction in import duty for Turkish steel into the United States in May initially supported it, which dragged prices down.The removal of the extra import duty failed to revive demand for Turkish rebar in the US, leading to a decrease in prices for both long steel products and steel sc...Read More

Trump imposed tariffs on Mexico and almost immediately the price of gold spikes $35. Should we all be surprised. Is this the final straw? How much more can the economy withstand? Perhaps this is what it takes to create a new economy. But it's incredibly to all the current participants of the current paradigm. What's a globalist to do? One thing is for certain, there's no stopping it now.John Rubin...Read More