The Friday Market Minute Global stocks rebound despite the U.S. increasing tariffs on China-made goods as investors hope a narrow window in application will pave the way for a trade deal.Tariffs increased to 25% from 10% on $200 billion worth of Chinese imports, but wont' apply to goods already in transit, leaving a two week window during which Washington and Beijing can continue to negotiate.Ch...Read More
An overview of the battery raw materials markets and their price moves.Read More
The Chinese domestic battery-grade lithium hydroxide price dropped by more than 5% week on week due to ample stocks and buyer reticence, while there was good demand for technical and industrial grade carbonate from lithium manganese oxide (LMO) and lithium iron phosphate (LFP) battery manufacturers, supporting the price in the latest pricing session. The lithium hydroxide market moved down in Chin...Read More
As a gold and precious metals guy, I'm very often asked about investing in collectible coins.And I've always thought that was kind of odd. What do collectible coins have to do with gold?I mean, you wouldn't ask a farmer about fishing poles. You'd probably ask a fisherman.Still, there does exist an undeniable connection between precious metals and collectible coins. And you'll find that many (if no...Read More
Avrupa Minerals Ltd. (AVU: TSXV) is a project generator, focused on politically stable and prospective regions of Europe, including Portugal, Kosovo, and Germany. At PDAC2019, we learned from Paul Kuhn, CEO and President of Avrupa Minerals, that their flagship Alvalade VMS Project is a 100%-owned self-funded project, located in the Pyrite Belt of south Portugal, where they recently had a successfu...Read More
The price of some steel coil products in Turkey increased over the seven days to Friday May 10, but buying activity remained subdued, sources told Fastmarkets this week.With demand remaining weak in the local market, producers did not want to reduce prices because that would lead to a further reduction in demand as buyers would hold out for even lower prices, sources said.However, demand...Read More
Coated flat steel prices in Turkey fell over the week ended on Friday May 10, with demand weak in the domestic market.Demand in the local market remained poor because of the continuing weakness in the Turkish lira and uncertainty following elections.The lira was trading at TRY100 to $16.27 on May 10 compared with TRY100 to $17.47 on April 12 and TRY100 to $18.76 on March 1, according to exchange r...Read More
In our April 29th Insights newsletter, we described how investors had returned to the Bernanke-Obama-Yellen (BOY) playbook by piling into large-cap growth situations to take advantage of loose monetary policy during a period of lacklustre economic growth. This time around, however, monetary conditions are not as accommodating as rates are no longer at zero and QE is long finished. To get a sense...Read More
German industrial conglomerate ThyssenKrupp is planning to cut 6,000 jobs over the next three years, including 2,000 jobs in its steel business, chief executive officer Guido Kerkhoff said in a conference call on Friday May 10.ThyssenKrupp remains open to consolidation opportunities for its European steel business, which will be reintegrated into the parent company, following news of the European...Read More
Domestic prices for rebar in Poland have moved down over the past week, reflecting an anticipated fall in scrap costs, sources told Fastmarkets on Friday May 10.Fastmarkets' weekly price assessment for domestic 12mm B500B-grade rebar in Poland moved down to 2,170-2,240 zloty ($566-584) per tonne ex-works on May 10, from 2,210-2,270 zloty per tonne ex-works a week earlier.The assessment reflected d...Read More
The ongoing trade talks between the United States and China kept buyers on the sidelines on Friday May 10, sources said, with market participants expected to wait for clearer price direction before returning.Export prices were flat on Friday, but are expected to continue to face downward pressure due to the depreciation of the Chinese yuan against the US dollar. Falling domestic pri...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
The global ferrous scrap trade continued to soften during the week ended Friday May 10 due to negative sentiment and weak demand in the major markets. Political disturbances in Turkey put more pressure on mills US export prices on both coasts fall Lower Kanto tender, Turkish lira drive down spot prices in Asia Indian market still subdued by general election process.Turkey importsTurkish steel prod...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 185,801110,39073,060142,078238,437400,939421,887 Change from Prior Reporting Period 8,526-66616,755-5,2102,83720,07118,926 Traders 18070795460261185 Small Speculators LongShortOpen Interest 49,10028,152450,039 -431,10220,028 non reportable positionsChange...Read More
The US stock markets sure feel inflectiony, at a major juncture. After achieving new all-time record highs, sentiment was euphoric heading into this week. But those latest heights could be a massive triple top that formed over 15 months. Then heavy selling erupted in recent days as the US-China trade war suddenly went hostile. The big US stocks' just-reported Q1'19 fundamentals will help...Read More
By: Egon von GreyerzMy long standing target for gold of $10,000 in today's money and much, much higher in inflationary terms, is now more probable than ever. But I hope it will never be achieved. When gold goes to $10,000, it won't be under the same circumstances that we saw in the 1970s. Gold then went from $35 in 1971 to $850 in January 1980 - a 24x explosion in very different conditions.In th...Read More
The price of shredded ferrous scrap imported into India dropped by $6 per tonne this week, reflecting a souring of market sentiment, sources said. Fastmarkets MB's weekly index for containerized imports of shredded scrap into India went down by $6.56 per tonne to $325.03 per tonne cfr Nhava Sheva on Friday May 10 from $331.59 per tonne cfr Nhava Sheva a week previously.Deals heard on the market fo...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
Andrew Park, senior editor at S&P Global's LCD unit, joins Grant's to discuss all things credit.1:35 The current cycle: What's different?5:45 CDOs in 2008 and CLOs today. Similarities and differences12:01 Promised acquisition strategies: Dreams don't always come true15:55 Credit managers need new supply, and borrowers happy to obligeJames "Jim" Grant is an American writer and publisher and the fou...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