An overview of the minor metals markets and the reasons for any price moves.Read More
For years, gold's corrections have been brutal, and that is why many erstwhile bulls have not rushed to buy this rally. They have instead been waiting for a nasty pullback in order to load up at bargain prices. But Mr. Market has not obliged. Instead, retracements have been shallow and rallies steep. The latter have often occurred after-hours, but in one recent instance via a trampoline bottom t...Read More
By: Gary Savage Dollar propped up before the start of the rate cutting cycle:Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Scrap prices in most global markets pushed upward in the week ended Friday July 19, in line with stronger Turkish import prices. But this excluded the Indian market, which was hurt by limited trading activity. Turkish import prices up week-on-week, bookings resume US export prices flat on East Coast, up on West Coast Asian import prices up on steady demand but upside limited Indian prices down on...Read More
The price of shredded ferrous scrap imported into India fell this week due to a lack of demand, sources told Fastmarkets on Friday July 19.Fastmarkets' weekly price for steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $314.23 per tonne on July 19, down from $319.09 per tonne on July 12.Offer prices for shredded scrap moved down this week to $308-320 per tonne, from $315 to $3...Read More
Turkish steel producers continued to book deep-sea ferrous scrap cargoes for August shipments at the end of the week, sources said on Friday July 19.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 14,000 tonnes of HMS 1&2 (80:20) at $295 per tonne, 12,000 tonnes of shredded at $300 per tonne and 6,000 tonnes of bonus at $305 per tonne cfr.A steel mill in the Marmara region b...Read More
Silver futures marked a fifth straight day of gains session gain on Thursday, for their highest finish in more than a year. Tight supply concerns, along with strength in gold, may help lift prices for silver back to levels not seen since 2016. "We were overdue for a rally in silver as the gold/silver ratio was sitting near historic highs," said Chris Gaffney, president of world markets at TIAA Ba...Read More
(Updates with closing prices)By Peter HobsonLONDON, July 19 (Reuters) - Nickel prices fell on Friday asa two-week explosion of buying which helped push the metal usedin stainless steel to its highest in more than a year appearedto run out of steam.Copper meanwhile surged to a two-month high as investorsramped up bets that U.S. interest rates will fall.Benchmark nickel on the London Metal Exchange...Read More
Comments from US Federal Reserve officials overnight appeared dovish after New York Federal Reserve president John Williams stressed at the annual meeting of the Central Bank Research Association that "it is better to take preventative measures than to wait for disaster to unfold". With the market already pricing in a 25-basis-point cut in the central bank's benchmark interest rate at the Federal...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Battery-grade lithium prices in China decreased further in the week ending Thursday July 18 due to unimproved downstream demand, while most buyers were in no rush to buy more material due to current reduced cathode and battery production in China, buying only on a hand-to-mouth basis.Battery-grade lithium carbonate and hydroxide prices moved further down this week.Technical and industrial-grade li...Read More
Swedish steelmaker SSAB expects demand for heavy steel plate to remain strong in the United States during the third quarter of 2019 but sees demand for flat steel in Europe decreasing due to seasonal reasons. Shipments of steel products from SSAB's Americas division totaled 909,000 tonnes in the second quarter, down by 6.54% year on year, the steelmaker said on Friday July 19. Shipments from SSAB...Read More
Louisiana is home to the largest liquefied natural gas (LNG) projects in the world.Data from the Federal Energy Regulatory Commission (FERC) shows at least 17 new LNG projects currently approved and proposed for the Bayou State that are estimated to increase output by over 30 billion cubic feet per day (Bcf/d).One such project being developed by Golden Pass Products is slated to spend $10 billion...Read More
Piedmont Lithium (ASX: PLL; NASDAQ: PLL) is an emerging lithium company focused on the development of its 100%-owned Piedmont Lithium Project in North Carolina. We learned from Keith D. Phillips, Managing Director and CEO of Piedmont Lithium, that the Company is advancing the plans to build a mine, concentrator plant and a lithium hydroxide chemical plant with the goal to develop the only conventi...Read More
The Friday Market Minute Global stocks trade firmly higher on hopes of near-term support from major central banks as the U.S.-China trade war takes it toll on world economic growth.Federal Reserve officials Williams and Clarida hint at proactive rate cuts to prevent a slowing global economy from derailing the longest U.S. expansion on record.Japan's core inflation rate rises at the slowest pace...Read More
Flat-rolled steel prices mostly moved upward in South America during the week ended Friday July 19, following the persistent Chinese uptrend, but the prices for hot-dipped galvanized coil (HDG) and Galvalume were unchanged.Fastmarkets' assessment of the price for steel hot-rolled coil, import, cfr main ports South America, was $540-550 per tonne on July 19, compared with $520-545 per tonne a week...Read More
Offer prices for South Korea-origin hot-rolled coil (HRC) exported to India have increased by at least $5 per tonne to $535-540 per tonne cfr Mumbai for shipments in August, Fastmarkets heard on Friday July 19.HRC from South Korea was last booked about a month ago at $530-535 per tonne cfr Mumbai.Importers, however, were currently not keen on booking HRC shipments for fear of the imposition of a s...Read More
Domestic rebar prices in Poland have moved up due to an expected rise in scrap costs, sources told Fastmarkets on Friday July 19.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland, was 2,070-2,120 zloty ($546-559) per tonne on July 19, compared with 2,000-2,100 zloty per tonne a week earlier.The assessment reflected deals and offers heard in the market.Pol...Read More