Glencore International has agreed a letter of intent for cobalt metal supply to battery cell producer Freyr, the company said on Monday February 1.The Swiss trader-producer will supply up to 3,700 tonnes of high-purity cut cobalt cathode produced at its Norwegian operations, Nikkelverk, to Freyr's planned facilities in Mo i Rana in Norway, it said without disclosing the time period for the intende...Read More

Hot-rolled coiled prices in the United States held essentially flat to begin February.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $56.56 per hundredweight ($1,131.20 per short ton) on Monday February 1, up by 0.1% from $56.50 per cwt on Friday January 29 and an increase of 2.7% from $55.07 per cwt one week earlier. Inputs were collected in a range of $54...Read More

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' daily steel hot-rolled coil index, fob mill US averaged $56.15 per hundredweight ($1,123 per short ton) for the week ended Friday January 29, up by 0.5% from an average of $55.87 per cwt the previous week. The index wa...Read More

Some European steel producers pushed their official hot-rolled coil offer prices upward in the week ended Friday January 29, with buyers likely to accept some transaction price increases in the short term.On January 28, ArcelorMittal increased its official offers for HRC to ?,?750 ($910) per tonne ex-works across the EU, up by ?,?20 per tonne from previous offers. And Swedish steelmaker SSAB has b...Read More

Prices for domestic merchant bar quality (MBQ) steel in the United States rose for the third month in a row in January, while import prices remained unchanged after climbing in late December 2020.Fastmarkets' monthly assessment for steel bar 2 x 2 x 1/4 -inch angle merchant products, fob mill US was at $44.30 per hundredweight ($886 per short ton) on Friday January 29, up by 4.7% from $42.3...Read More

The Commonwealth of Independent States (CIS) export wire rod price recovered somewhat in the week to Monday February 1 on demand in European markets, sources told Fastmarkets.Offers of Ukraine-origin material were heard within the range of $700-730 per tonne fob Black Sea, depending on destination, while Russia-origin material was available within the range of $690-702 per tonne fob Black Sea, sou...Read More

Domestic rebar prices in Russia's Central Federal District around Moscow declined in the week to Monday February 1 due to slow end-user demand and falling exports, several sources told Fastmarkets....Read More

Here are five Fastmarkets stories you might have missed on Monday February 1 that are worth another look.Chinese nickel sulfate prices have made steady gains since the start of 2021, rising again last week to set the highest level since Fastmarkets began tracking the market in July 2018.More than 67,000 lots of the Singapore Exchange's 65% Fe iron ore swaps...Read More

As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in January 2021.The case list below includes only updates. For other continuing cases from 2020, see the updates for December,...Read More

Iron ore prices fell on Monday February 1, sources told Fastmarkets, due to weak demand and limited trading liquidity, despite the potential impact of severe weather on supplies from Australia. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $157.07 per tonne, down $1.47 per tonne62% Fe low-alumina fines, cfr Qingdao: $157.77 per tonne, down $1.28 per tonne58% Fe fines high-grade...Read More

Video discussed in the interview: https://www.themorganreport.com/blog/...David Morgan is a world-renown precious metals aficionado. He is the creator of the Silver-Investor.com website and The Morgan Report, a monthly report that covers economic news, overall financial health of the global economy, currency problems and the key reasons for investing in precious metals. A dynamic, much-in-demand s...Read More

Jeff Clark of GoldSilver.com joins our Daniela Cambone to talk about the red hot silver market. Clark explains that when re-openings pick up steam, consumer spending will rise. "The 7 billion people who are locked down will increase spending and push on CPI," which he says will in turn drive silver prices higher. Clark reveals three bold calls, including the doubling of the Consumer Price Index (C...Read More

The demand surge of silver has completely overwhelmed the supply, and orders are not able to be filled now, said David Morgan of TheMorganReport. David Morgan is a world-renown precious metals aficionado. He is the creator of the Silver-Investor.com website and The Morgan Report, a monthly report that covers economic news, overall financial health of the global economy, currency problems and the k...Read More

While many had given up show hope that the silver shorts could ever truly be pressured, the unthinkable has begun to happen. As the silver short squeeze that's been building since last Thursday has now officially exploded.It's going to be a wild trading day, and to find out what's going on, click to watch the video now!Read More

China's domestic price was stable on Monday February 1 due to a combination of dropping demand and high production costs, while the export price fell on market participants' concerns of a potential cut of the export rebate. Domestic Eastern China (Shanghai): 4,280-4,310 yuan ($663-667) per tonne, unchanged Rain in eastern China has dampened end-user demand for rebar used in the construction indust...Read More

Silver is rallying amid Reddit posts about a short squeeze. This parallels what happened to GameStop last week. President of Miles Franklin Andy Schectman says the fundamental reason to own precious metals is for wealth protection; precious metals should not be seen as a get rich quick scheme.Andy Schectman is the President and CEO of Miles Franklin Ltd. Precious Metals.Read More

Grant invites two accomplished shortsellers, Marc Cohodes and Bill Fleckenstein to discuss the wild gyrations in equity markets in recent days as a coordinated move by retail investors to attack 'shortsellers' and inflict pain upon Wall Street proves to be, in some ways at least, a roaring success.There are, however, nuances to this story which are perhaps not broadly understood and are in need of...Read More

Jim Bianco of the widely-read Bianco Research discusses what happened in recent weeks as retail investors take on large hedge funds shorting stocks like GameStop and others. Jim says that with lots of people unemployed empowered by modern technology, this trend is unlikely to end soon and what he expects to unfold in the coming weeks and months.Jim Bianco is President and Macro Strategist at Bianc...Read More

"So, if you have a physical covering with one layer, you put another layer on, it just makes common sense that it likely would be more effective and that's the reason why you see people either double masking or Continue...Read More

Blog: https://www.itmtrading.com/blog/silve...Lynette Zang has held the position of Chief Market Analyst at ITM Trading since 2002. Ms. Zang has been in the markets on some level since 1964. Her mission is to convert financial noise into understandable language. She has been a banker, a stock broker and studied world currencies since 1987. She believes strongly that we need to be as independent as...Read More