US GDP numbers is overhyped today. Traders will take positions for next week's FOMC meet and host of US jobs numbers. There will be an Easter impact on US jobs. Global economy has a feel good situation. Once again it will be a technical trade today. Central bank buying has failed to lift gold. I am against going long in crude oil unless it breaks and trades over $67.20 till Mid May. Remain on th...Read More
The price of shredded ferrous scrap imported into India moved up again this week on a lack of available material, sources told Fastmarkets on Friday April 26.Fastmarkets' weekly index for containerized imports of shredded scrap into India inched up to $334.65 per tonne cfr Nhava Sheva on Friday, from $332.25 per tonne cfr one week before.There were very few deals heard in the market for shredded s...Read More
Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest independently owned securities firms. In 2001, Eric established Sprott Asset Management Inc. Over the years, Eric has personally been the recipient of numerous awards and honors, including one of Investor Dig...Read More
Brazilian slab export prices remained unchanged in the week ended Friday April 26 with few deals being reported because producers have no available volumes to sell.Fastmarkets' weekly price assessment for steel slab exports from Brazil was stable week-on-week on Friday at $495-545 per tonne fob.Prices in the United States remained at $540-545 per tonne fob, while most volumes for June shipment and...Read More
Indian secondary billet prices remained flat for the second consecutive week on Friday April 26 even as finished long steel product prices continued to slide.The Indian domestic secondary billet price was assessed by Fastmarkets on Friday at 31,400-31,600 rupees ($446-449) per tonne ex-mill, unchanged since last week."Secondary billet prices are stable only because there is not enough supply," an...Read More
OK. New York City can't pay its bills and politicians think chasing Amazon out of town because they wanted a $3 billion tax break actually saved $3 billion when Continue...Read More
"First they laugh at you, then they fight you, then... they admit you were right all along and maybe shouldn't have been violating everyone's rights in the first place?Continue...Read More
The Great Financial Unknown is now upon us. After 10 years of Quantitative Easing, the European Central Bank (ECB) in Europe owns 40% of the national debts in the EU and itContinue...Read More
Lobo Tiggre, principal analyst of The Independent Speculator, maintains his long-term bullish stance on both gold and silver.Read More
China's domestic rebar prices were stable on Friday April 26 asrestocking demand ahead of next week's four-day holiday offset weaker futures. Domestic Eastern China (Shanghai): 4,050-4,100 yuan ($601-608) per tonne, unchangedNorthern China (Beijing): 3,950-4,000 yuan per tonne, unchangedRebar futures were weaker today, with the settlement price of 3,733 yuan per tonne 11 yuan per tonne l...Read More
"The gasoline prices are coming down. I called up OPEC. I said, 'You've got to bring them down. You've got to bring them down,' and gasoline's coming down," Continue...Read More
1) "We are at war with Russia" is one of the most dangerous (and deranged) proclamations a political official can issue: here's the head of the DNC doing that; 2) Note howContinue...Read More
The precious metals continue to face two primary headwinds: a lack of risk aversion and a strong dollarContinue...Read More
Mish Shedlock challenges Max Keiser's assertion that bitcoin and gold are equalsContinue...Read More
India is currently holding its Lower House general elections and Fitch's Solutions' Country Risk team expects Prime Minister Narendra Modi's National Democratic Alliance, led by the Bharatiya Janata Party (BJP), to win the most number of seats, but fall short of a simple majority in the Lower House.Under this scenario, Fitch forecasts in its latest industry trend analysis, India's mining sector wo...Read More
Sibanye Gold Ltd. agreed to raise its all-share offer for platinum miner Lonmin Plc, citing an increase in metal prices since the deal was announced in December 2017.The increase should help bolster support from Lonmin investors, who still need to vote on the takeover. It also signals Sibanye boss Neal Froneman's determination to get the deal done, as the company needs access to Lonmin's metal-pro...Read More
The price range of grade-304 stainless steel cold-rolled (CR) sheets in Europe widened upward on Friday April 26, with some mills in the region successfully seeking higher prices but others seeming to be content with the prices achieved earlier in the month, market participants told Fastmarkets.A distributor explained that it has bought from higher-priced mills as well as lower-priced ones partly...Read More
JOHANNESBURG - South Africa's militant AMCU union said on Friday that it was complying with the country's labour laws, disputing a government notice which said it could be de-registered for breaking rules governing how unions should operate.The Association of Mineworkers and Construction Union (AMCU), one of the largest trade unions in South Africa's mining sector, has thousands of members at mine...Read More
This precious metals firm continues its exploration efforts at its South Pacific island asset. Lion One's Tuvatu Gold ProjectLion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX) started drilling at its Tuvatu project in Fiji, it announced in a news release. The drill campaign will "test shallow dipping lodes in the HT Corridor, a mineralized zone crosscutting the principal vein system of the Tuvatu res...Read More
Monthly European alloy surcharges for stainless steel products have increased for May due to the euro's weak position against the dollar, Fastmarkets heard on Friday April 26.The May surcharge for grade-304 cold-rolled (CR) stainless sheet has increased to ?,?1,410-1,450 ($1,571-1,616) per tonne, a gain of ?,?20-23 per tonne from April levels, according to data released by Outokumpu, Acerinox and...Read More