How many bulls does it take to change a light bulb? None, says Bob Hoye from ChartsandMarkets.com, "Because light bulbs never burn out and neither do bull markets". In his May 10th broadcast, the market historian suggests we are seeing signs of a top in the market, including a recent headline, "The US stock market can't stop, won't stop its endless rally".Hoye: Do light bulbs and bull markets g...Read More
China's domestic hot-rolled coil market fell further on Monday May 13 after trading activity fell, while exporters too lowered their prices.DomesticEastern China (Shanghai): 4,020-4,030 yuan ($589-590) per tonne, down 10-20 yuan per tonneNorthern China (Tianjin): 3,890-3,900 yuan per tonne, down 10 yuan per tonneHRC prices in China's major markets fell on Monday after mills lowered their offers by...Read More
The current trading environment would support higher domestic steel prices in Brazil, but low demand and a decrease in the cost of ferrous scrap were being considered before any adjustments were announced, steelmaker Gerdau has said."We will continue to watch how consumption evolves in the country to decide whether or not to increase prices," chief executive officer Gustavo Werneck told investors...Read More
Long-steel export prices from the Commonwealth of Independent States remain under pressure this week amid a lack of demand from importers and low competing offers from other export markets, Fastmarkets heard on Monday May 13.Fastmarkets MB's weekly price assessment for CIS export rebar was $460 per tonne fob Black Sea on May 13, unchanged week on week."The rebar price could drop by a further $5-10...Read More
The start of the Islamic holy month of Ramadan and a weak Turkish lira have made Turkey-origin rebar the most economical choice for Singaporean buyers, market sources said.Fastmarkets MB's weekly import price assessment for rebar into Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $490 per tonne cfr for the week to May 13, down from $505 per...Read More
Turkish steel producers continued to book deep-sea scrap cargoes with the help of falling prices, sources said on Monday May 13.A steel producer in the Izmir region booked a Baltic Sea cargo, comprising 10,000 tonnes of HMS 1&2 (80:20) at $286 per tonne, 12,000 tonnes of shredded at $291 per tonne and 3,000 tonnes of bonus at $296 per...Read More
The depreciation of the Turkish lira has continued to drive the prices for domestic ship scrap and auto bundle scrap in opposite directions over the past week, sources said on Monday May 13.All four steel producers in the Izmir region have reduced their buy prices for domestic shipbreaking scrap by $10 per tonne over the past seven days.Three steel mills cut their buy prices for the material to $2...Read More
Seaborne iron ore pellet transaction volumes and prices remained robust in the week ended Friday May 10, while the corresponding figures for iron ore concentrate remained weak.PelletsThe weekly Fastmarkets MB 65% Fe Blast Furnace Pellet Index was $128.58 per tonne cfr China on May 10, up by $0.40 per tonne from a week earlier.A cargo of 64% Fe Indian Jindal pellet traded at $121-122 per tonne cfr,...Read More
StrengthsThe best performing metal this week was gold, up 0.54 percent. Gold traders ended the week neutral on the price of gold as many are awaiting more details on the trade talks between the U.S. and China, according to the weekly Bloomberg survey. The BullionVault gold index measuring the balan...Read More
By: David HaggithSo much for the trade war being "good and easy to win." Let's be honest. Trump has been grinding away on it for almost a year now, and China has barely flinched in its negotiations. On Friday the tariff war became personal because it will now tap your own budget and every business budget in town.If you think Trump's boosting of the amperage means China will settle quickly, you m...Read More
My minimum upside target for the S&P 500 is still 3095, about 7.4% above these levels, and I am sticking with it. A corresponding rally in the Dow Industrials would leave them just shy of 28,000. Let me also mention that last week's nasty selloff would have tripped a 'mechanical' buy signal if the S&Ps had fallen just a little farther. The rally targets are purely technical and go directly aga...Read More
Traders will prefer to be long gold than short gold. I was hoping that sense will prevail in Trump and that a trade deal would be done with China on the weekend. Trump tweets suggest that he has refused to budge and will not budge for the rest of the his term which ends in January 2021. It is very difficult to predict the real long term impact of the US-China trade on China and rest of the wor...Read More
The price range for CIS export slab has narrowed downward by $5 per tonne fob week on week, amid a weak market for finished steel, Fastmarkets heard on Monday May 13.Fastmarkets' weekly price assessment for CIS export slab was $450-460 per tonne fob on May 13, down from $450-465 per tonne fob a week earlier.CIS-origin slab offers to Europe were heard at $480 per tonne fob, market participants said...Read More
Domestic prices for rebar in eastern China dipped on Monday May 13 amid high selling interest among stockists. Domestic Eastern China (Shanghai): 4,040-4,080 yuan ($592-597) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,910-3,960 yuan per tonne, unchangedSellers in eastern China lowered their prices slightly to secure more sales in an effort to destock. Many stockists are worried th...Read More
Kent Collier and Sarah Gefter of credit research firm www.reorg.com call in to discuss the latest happenings in distressed debt.3:51 2007, then and now7:16 Taking inventory of the cycle12:51 The J. Crew "trapdoor." Innovation or gimmick?18:02 Deteriorating accounting standards20:38 Issues that might ring the bellJames "Jim" Grant is an American writer and publisher and the founder of Grant's Inter...Read More
If the economy looks so great then why would anyone be worried about it. As John and Andy point out there's lots to worry about and that's why gold prices are breaking $1300 yet again. No doubt, President Trump will pull another rabbit out of a hat with China Trade, but then what? Debt keeps going up and so do entitlements and the demise of social security is just around the corner. And it's not m...Read More
Greg Weldon of Weldon Financial joins Chris Gleason for a sensational interview on how he views the precious metals now and which one he favors over the others. Plus, Greg has some warnings about why a failure to finalize a trade deal with China very soon could be very problematic for the U.S. stock market. So, be sure to stick around for one of our very favorite guests, Greg Weldon, coming up aft...Read More
"We're living in a complete and total farce."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 Mark...Read More
SBTV had a great conversation with the fiery and straight-talking Gerald Celente, Founder of the Trends Research Institute, about how he forecast the 1987 Black Monday crash, the lack of independence of the Federal Reserve and also the 2020 US Presidential elections.Discussed in this interview:02:12 "I became a political athethist thanks to Jimmy Carter!"07:52 How Gerald Celente forecasted Black M...Read More
"An aircraft carrier that has at least 40 to 50 planes on it and 6000 forces gathered within it was a serious threat for us in the past but now...the threats have switched toContinue...Read More