Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
Turkish pipe export prices have continued to fall with weak demand and lower costs for pipemaking raw materials, sources told Fastmarkets on Wednesday January 9.Steel pipe mills reduced their offers for EN10219-standard, grade-S235 tube, with 2mm wall thickness, to $570-580 per tonne fob from the $590-600 per tonne heard last month.Fastmarkets' monthly export price assessment for tube of this grad...Read More
Activity in the export market for flat steel products from the Commonwealth of Independent States (CIS) was slowly recovering from the new-year holiday silence during the week that ended on Tuesday January 8.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) was unchanged at $440-460 per tonne fob Black Sea on January 8."The market remains very slow. Suppliers jus...Read More
Throughout all of the political bickering these days - and it has reached quite the crescendo after the recent midterm elections - we can't help but feel the despair of frustration.Looking with an objective eye toward Capitol Hill, nobody can deny the divisiveness that has grinded our government to a screeching halt.That's just the natural course of things when you have extremes on both sides ramm...Read More
Asian steel markets are in for another tumultuous year judging by the rate at which new developments are expected to spring up in 2019.China remains the center of interest, and rightly so, because its economic and governmental policies have cascading effects on the international steel market.While its progressive economic policies have served it well in sustaining its domestic steel sector in the...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday January 9 that are worth another look.Asian steel markets are in for another tumultuous year judging by the rate at which new developments are expected to spring up in 2019.In the United States, the chairs of seven committees in the House of Representatives requested that the US Treasury Department delay the terminat...Read More
Steel producers in Egypt will benefit from higher steel demand and low rates of imports in 2019, George Matta, chief marketing officer of Ezz Steel, said at Fastmarkets' North Africa Steel Summit in Dubai in December.Egypt is the largest steel-consuming country in the North Africa region and, in the long term, the share of its steel consumption that is supplied by imported steel products may start...Read More
Two big themes emerge in the January INK Edge Top 40 Stock Report distributed Wednesday morning to Canadian Insider Club members. First, bargain hunters have something to cheer about with eight stocks making the list that rank highly in terms of offering cheap valuations. Secondly, four cannabis-oriented stocks (which we would categorize as growth story stocks) make the list this month. That's a...Read More
In his first Discovery Watch interview of 2019, John Kaiser of Kaiser Research Online suggests that Golden Triangle driller Sun Metals (Sunny; SUNM) achieved two important accomplishments last month. Leading up to December of last year, Mr. Kaiser believes the company demonstrated via recent exploration activities that its Stardust project likely has a new dimension of higher-grade mineralization...Read More
Prices for hollow steel sections in Europe remained flat on Wednesday January 9 while market participants digested the news about a revised import quota regime for the region.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe remained at ?,?635-650 ($727-744) per tonne delivered on Wednesday.Less than 5,000 tonnes remains to be allo...Read More
Turkish steel mills were absent from the deep-sea market on Wednesday January 9, with no bookings recorded and no change in prices, sources told Fastmarkets. On January 8, three steel producers booked four deep-sea cargoes from the United States and Europe at steady prices and then started to watch the finished steel markets.A long steel producer in Izmir was said to be selling 50,000 tonnes...Read More
Physical iron ore markets weakened on Wednesday January 9 following downward corrections in futures and steel prices.MB 62% Fe Iron Ore Index: $73.90 per tonne cfr Qingdao, down $0.56 per tonne. MB 62% Fe Pilbara Blend Fines Index: $74.04 per tonne cfr Qingdao, down $0.56 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.68 per tonne cfr Qingdao, down $0.52 per tonne. MB 58% Fe Premium Index: $...Read More
China's ferrous futures largely rose during morning trading on Wednesday January 9, with only the iron ore contract dipping slightly.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,541 yuan ($516.50) per tonne, up 30 yuan per tonneMay hot-rolled coil: 3,442 yuan per tonne, up 24 yuan per tonneDalian Commodity Exchange May iron ore: 514.50 yuan per tonne, down 0.50 y...Read More
Asian steel markets are in for another tumultuous year judging by the rate at which new developments are expected to spring up in 2019.China remains the center of interest, and rightly so, because its economic and governmental policies have cascading effects on the international steel market.While its progressive economic policies have served it well in sustaining its domestic steel sector in the...Read More
China's domestic rebar prices dropped slightly on Wednesday January 9 on softening winter demand.Domestic Eastern China (Shanghai): 3,720-3,760 yuan ($543-548) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,640-3,680 yuan per tonne, widened down 10 yuan per tonneRebar traders cut prices slightly amid continued weakness in demand even though both billet and futures prices tick...Read More
The European molybdenum markets fell in trading this week to a six-month low, with suppliers cutting their offer prices in the face of stubborn resistance among consumers against paying more.Both the alloy and oxide markets in the second week of January were at prices last seen in July 2018.Moreover, there has been an abundance of spot ferro-molybdenum available since the past quarter, as well as...Read More
Forecasts, Commentary & Analysis on the Economy and Precious MetalsCelebrating our 45th year in the gold businessJanuary, 2019_____________________________________________________________________________________________________________________________Gold mine production by countryDivergent paths among the major global producers tell an important taleSources: MetalsFocus and the World Gold Coun...Read More
By: Gary TanashianThe 3 Amigos were a blogger's way of not boring himself to death while fleshing out important macro indicators month after month.Amigo #1 (SPX/Gold ratio) got home and dropped from target. What's more, it has taken back the ratio's equivalent of the entire Trump rally and that is an eventuality we are very open to on nominal SPX as well.The gaps are interesting and among sev...Read More
John Williams & Chris Waltzek Ph.D. - January 8th, 2019. -- CLICK HERE TO LISTEN NOW (Mp3 file) HighlightsThe founder of Shadowstats.com, a leading online alternative economic-resource offers listener's a financial market overview for 2019.John Williams notes the economic mishaps leading up to the Great Recession of 2008 were mostly ignored.The inordinately large global financial-bubble...Read More
By: Gary ChristensonJohnny Cash sang "Folsom Prison Blues" in 1957. The first verse is:I hear the train a comin'It's rollin' round the bend,And I ain't seen the sunshineSince I don't know when.I'm stuck in Folsom PrisonAnd time keeps draggin' onBut that train keeps a rollin'On down to San Antone.The Federal Reserve operates from The Eccles Building in D.C. Regarding the Fed I suggest changing "F...Read More
Big moves will be there in metals, energies and the US dollar Index only after the outcome of US-China trade talks are known. Till then, the consolidation phase will be there. Focus of the world in on a Chinese slowdown. Long term metal investors are on the sidelines as they expect slower and lower Chinese demand. If the trade talks succeed and all issues comes to an end once and for all, then a...Read More