The market for exports of hot-rolled coil (HRC) from the Commonwealth of Independent States (CIS) fell because of lower prices for Ukraine-origin material during the week ended Tuesday April 23.Fastmarkets' weekly price assessment for CIS-origin exports of HRC was $470-495 per tonne fob Black Sea on April 23, widening downward from $485-495 per tonne fob a week earlier.HRC offers from Ukraine fell...Read More
High Liner Foods remains the most shorted stock on the TSX based on the latest IIROC report and INK data. Short interest remained relatively steady at 15.54% of its float, down 0.26% from the March 30th report. Since our April 8th INK post warning that based on INK signals the stock appeared at risk of a bearish setup, it has dropped 4.5%. Our bearish signal remains in place based on a combinatio...Read More
Prices for flat steel products imported into the United Arab Emirates and Saudi Arabia dropped over the past week due to limited demand, sources told Fastmarkets on Tuesday April 23.End-user demand has been weak recently, so buyers have been unwilling to place orders for large tonnages, they added.The Islamic holy month of Ramadan, when business normally slows down, starts in early...Read More
As we wrap up our spring Canadian Insider Research Club membership drive today, I am thrilled to announce the third improvement we have made to Canadian Insider for all our users. In case you missed it, the first big change I wrote about last week was our decision to provide free quantitative INK Edge stock rankings updated monthly for thousands of North American companies. While other sites char...Read More
Declining raw material costs and a slowdown in demand have caused spot prices to fall in the US cold-heading quality (CHQ) and high-carbon wire rod markets, sources have told Fastmarkets AMM. Fastmarkets' price assessment for cold-heading quality wire rod declined to $45 per hundredweight ($900 per short ton) North American delivered duty paid Great Lakes region on Monday April 22, while the ...Read More
The price of mesh-quality wire rod exported from the Commonwealth of Independent States (CIS) has decreased by $5 per tonne over the past week, sources told Fastmarkets on Tuesday April 23.Fastmarkets' weekly assessment of the price of CIS export wire rod was $500-510 per tonne fob Black Sea on April 23, moving down from $505-515 per tonne fob a week earlier.Limited demand for finished steel in...Read More
Rebar producers that re-roll billet in Egypt have appealed to the Egyptian government to reconsider a recently imposed safeguard duty on imports of the semi-finished product.The country's Ministry of Trade & Industry began imposing a temporary import duty of 3-15% for billet on April 15, in addition to a 25% tariff on rebar, following an investigation that began at the end of last month. The provi...Read More
Despite falling to a more than 18-month low point in April, iron ore producer Ferrexpo expects pellet premiums to bounce back this year, with growing long-term demand supported by the need for increased steelmaking efficiency."We continue to believe long-term demand for pellet will be supported by [the need] for iron ore of a higher grade and in a form that reduces energy inputs, slag vo...Read More
Physical iron ore prices stayed rangebound on Tuesday April 23 while the 65% Fe derivative on the Singapore Exchange traded actively.MB 62% Fe Iron Ore Index: $94.53 per tonne cfr Qingdao, up $0.05 per tonne. MB 62% Fe Pilbara Blend Fines Index: $93.31 per tonne cfr Qingdao, up $0.05 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $96.88 per tonne cfr Qingdao, up $0.13 per tonne. MB 58% Fe Premiu...Read More
By: Dave Kranzler"Central banks stand ready to lease gold in increasing quantities should the price rise." - Alan Greenspan, July 1998 testimony to CongressAt 8:39 a.m. EST 523,200 ozs of paper gold were unloaded onto the Comex in the space of less one minute:Anyone who's traded big positions on a trading desk knows that the best way to unload a position that is larger than the immediate liqui...Read More
By: Keith WeinerWe have a postscript to last week's article. We said that rising prices today are not due to the dollar going down. It's not that the dollar buys less. It's that producers are forced to include more and more ingredients, which are not only useless to the consumer. But even invisible to the consumer. For example, dairy producers must provide ADA-compliant bathrooms to their emplo...Read More
TORONTO--(BUSINESS WIRE)--Men?" Inc. (TSX-V:MENE) (US:MENEF) ("Men?"" or the "Company"), an online 24 karat investment jewelry brand, today announced financial results for the fourth quarter and fiscal year ended December 31, 2018. All amounts are expressed in Canadian dollars unless otherwise noted.FINANCIAL HIGHLIGHTS:Record IFRS Annual Revenue of $7.9 million in 2018, a $7.9 million (12,305%)...Read More
By: Ira EpsteinJune gold contract swing line 1$273 / $1299.1Read More
By: Jordan Roy-Byrne CMT, MFTAThe downside potential in precious metals discussed last week is playing out as Gold and gold stocks have broken down technically. The global economy appears to be firming and that is evidenced by a sustained rebound in global equity markets. As a result, the potential for a rate cut which pushed precious metals higher is now unwinding. That has caused the breakdo...Read More
With Elizabeth Warren aggressively on-the-stump, the truly rich had better hold onto their wallets. Now she's pitching student-debt cancellation that would be paid-for with a 2% levy on wealth above $50 million and an additional 1% tax on wealth above $1 billion. Is this the greatest idea since sliced bread, or what? Socialists, even brainy ones like Warren, can't help sounding like morons whene...Read More
I have been writing for quite some time that higher crude oil prices will be a big threat to global economic growth. Iran, Venezuela and Libya crude oil is not there. May to September is the key consumption months for the year. Global economic growth will be derailed if crude oil prices continue to rise. Inflation in Asia will also rise if crude oil prices zoom. Higher crude oil prices is genera...Read More
Egypt, the largest consumer of direct reduced (DR) grade pellets in North Africa, may face a short-term pellet shortage as a result of Vale's production cuts, Fastmarkets heard at the North Africa Iron & Steel Summit in Cairo on April 16-17."There will be a challenge in the next few months to secure DR pellets [a feedstock for direct-reduced iron making] as a knock-on effect of Vale's accident," o...Read More
Gregory Mannarino started his financial career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. He is an active trader of the capital markets and has published several books pertaining to finance, global economics, and equity trading; His most recent book is titled Ultimate Guide To Money and The Markets (free ebook). Gregory currently hosts a b...Read More
We talk about a number of common themes on FSN and if we're being repetitious, we apologize. But these themes cannot be stressed enough. Eventually gold is going to take off, the stock market is going to tank and so are fiat currencies as well. We'll keep talking and letting you know as we approach the big day. Between now and then, you'll just have to be patient.John Rubino is the founder and man...Read More
In this two-part conversation, Mike Maloney speaks with Patrick Byrne of Overstock.com. Patrick was a guest in Episode 8 of 'Hidden Secrets of Money', and has always been one of Mike's favorite people to speak with. Find out how they both see the world changing before our eyes in this extended follow-up recorded in April of 2019. Michael Maloney is a precious metals investment expert and historian...Read More