Fastmarkets MB proposes to launch a weekly price assessment of South America import aluminium-zinc alloy coated steel coil, reported on a dollar-per-tonne cfr South America basis.Market participants have been reporting significant liquidity in this market, with steady volumes being traded weekly.Based on the most widely traded product specification, the weekly price assessment for S...Read More
Condor Gold (AIM: CNR; TSX: COG) is focused on developing and further proving a large commercial reserve on its 100% owned, La India Gold Project in Nicaragua. In August 2018, Condor received an Environmental Permit for the development, construction and operation of a processing plant, with a capacity of up to 2,800 tonnes per day and associated mine site infrastructure at La India. At PDAC2019, w...Read More
American exports of liquefied natural gas (LNG) to Europe are skyrocketing.And it's creating an incredible opportunity for energy investors to make huge profits.The European Commission (EC) reported earlier this week that LNG imports from the U.S. have increased by 272% since 2018.EC data shows record LNG imports coming from the U.S. in March totaling 49 billion cubic feet (Bcf).That's already a b...Read More
Russia has criticized Mexico at the World Trade Organisation (WTO) for maintaining anti-dumping duties on Russian steel exports, which it claims are outdated, being based on pricing assessments using data from a different country.The Mexican government used this method for past dumping calculations on Russian steel because it is permitted under WTO rules where a government dominates an economy tha...Read More
With competition in the global steel markets remaining fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in April 2019.The case list below includes only updates. For other continuing...Read More
Domestic prices for rebar in Poland have been supported by strong demand in the construction industry, sources told Fastmarkets on Friday May 3."Demand is good, which is normal at this time of the year," a Polish trader said. "But there is some pressure coming from unexpected scrap price decreases, because mills are...Read More
The European Commission (EC) has proposed measures that would prevent the effects of anti-dumping or anti-subsidy duties being combined with the safeguard measures that have been applied on imports of certain steel products."Cumulation of anti-dumping or anti-subsidy measures with safeguards may lead to a greater effect than desirable, and this issue should be examined in due course," the EC said...Read More
The pig iron market in the United States was under pressure from lower prices for high-phosphorous material from Brazil, while supplies of low-phosphorous material continued to be restricted, Fastmarkets heard on Friday May 3."The only thing really dragging pig iron [prices] down is the weak domestic [pig iron] market in Brazil and the lack of markets for high phosphorous material," one buyer in t...Read More
Global ferrous scrap prices trended downward in the week ended Friday May 3 due to low demand and high inventories held by steel mills.There was mixed sentiment about spot price trends. While most market participants expected a continued softening of prices, others expected prices to become firmer once holidays in Europe, Turkey, Japan and China came to an end. Weak steel markets in Turkey damp de...Read More
Austenitic alloy steel scrap prices in Europe went down in the week ended Friday May 3 because of further losses in the nickel market, Fastmarkets has heard.Fundamentals in the market were unchanged and were not exerting pressure on prices. While some traders reported slow supply, this was matched by demand. All sources said that the fundamentals were balanced.In the UK, Fastmarkets' assessment...Read More
The light iron market in the UK has dropped in the past week, with traders cutting their prices amid weaker European export markets, particularly into Turkey, sources told Fastmarkets on Friday May 3.Moreover, with European scrap export markets into Turkey set to get weaker in the near term, UK consumer monthly delivery settlements for May are likely to drop by a similar amount, they said.Fastmark...Read More
Latin American steel group Ternium expects sales of steel slab to continue rising in the second quarter of 2019, after an increase of 8.51% year on year in the first quarter.The company sold 880,000 tonnes of steel slab in the first three months of the year, compared with 811,000 tonnes a year before, it said on Thursday May 2."Our slab facility in [Brazil's] Rio de Janeiro state is doing well, an...Read More
Prices for grade-304 stainless steel cold-rolled (CR) sheets in Europe narrowed in the week ended Friday May 3 under the conflicting influences of higher alloy surcharges for May and lower nickel prices.The May surcharge for grade-304 CR sheets increased by ?,?20-23 per tonne to ?,?1,410-1,450 ($1,578-1,623) per tonne on April 26, despite falling nickel prices.Sources said earlier that, if nickel...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 177,275111,05656,305147,288235,600380,868402,961 Change from Prior Reporting Period 584-28,240-2,994-7,11523,801-9,525-7,433 Traders 16768785458254172 Small Speculators LongShortOpen Interest 49,14327,050430,011 -512-2,604-10,037 non reportable positionsC...Read More
These record US stock-market levels are very dangerous, riddled with extreme levels of euphoria and complacency. Largely thanks to the Fed, traders are convinced stocks can rally indefinitely. But stock prices are very expensive relative to underlying corporate earnings, with valuations back up near bubble levels. These are classic topping signs, with profits growth stalling and the Fed...Read More
By: Dave KranzlerNotwithstanding today's absurdly phony and propagandistic employment report, it's becoming more apparent by the week that the Fed and the U.S. Government are once again preparing to print more money. I don't know when the Fed will revert to more QE but I would argue that the intense effort by the banks to use the Comex as a conduit to control the price of gold is a probable sign...Read More
By: Ira EpsteinLow $1,260's support on gold...Read More
"Who would be free themselves must strike the blow..."By their right arms the conquest must be wrought."So wrote Lord Byron of Greece's war of independence against the Turks, though the famed British poet would ignore his own counsel and die just days after arriving in Greece to join the struggle.Yet Byron's advice is the wise course for the United States, and for the people of Venezuela who see...Read More
Sometimes we're blessed not to possess insider information. Several pointed examples surfaced in the last few days. If we had known, for instance, that Fed Chairman Powell would tell the world on Wednesday that the U.S. economy is holding steady as a rock and that no changes are contemplated in monetary policy, we'd have jumped on call options a day earlier. Lo, the Dow began a 500-point plunge...Read More
TOPICS IN THIS INTERVIEW:02:05 Did Central Banks lose control of the economy?05:25 Warning signs for the next economic meltdown08:25 Is Trump making America great again?12:20 The next economic crash could be the beginning of SocialismJim Rogers co-founded the Quantum Fund with George Soros in 1973, helping to steer the fund to a 4200% return before "retiring" at age 37. He is considered to be one...Read More