The price of some steel coil products in Turkey increased over the week to Friday May 17, while some producers stopped accepting new orders after the United States announced a duty reduction, sources told Fastmarkets.The US has lowered its tariffs on steel imports from Turkey to 25%, down from 50% previously, effective from Friday May 17.Demand was weak in the local market, but exports were strong...Read More
The domestic price for secondary steel billet in India has gone down by at least 200 rupees ($3) per tonne in the past week, in line with falling prices for finished long steel products such as rebar.The Indian domestic secondary billet price was assessed by Fastmarkets on Friday May 17 at 31,000-31,200 rupees ($441-444) per tonne ex-mill, down from last week's assessment at 31,200-31,400 rupees p...Read More
The European Commission (EC) has initiated a review of its steel import safeguard measures, it said in a notice published in the Official Journal of the European Union on Friday May 17.The review covers all product categories, with the exception of product category 26, which covers "other welded pipes."The EC "has observed that some of the country specific tariff-rate quota for certain product cat...Read More
The UK's light iron market has dropped over the week ending May 17, losing another ?5 ($6.41) per tonne following a ?10 loss due to weaker European export markets into Turkey since late April, sources told Fastmarkets.The move follows a ?15-per-tonne drop in monthly delivery settlements for May that were settled between British suppliers and steelmakers this week.Fastmarkets' weekly price asses...Read More
The global ferrous scrap markets continued to move downward during the week ended Friday May 17, except in Turkey, but a recovery was expected for most markets following the cut to the US import tariff on Turkey-origin steel. Prices begin recovery after US reduces Turkey tariff US export prices down on earlier Turkish sales Taiwan prices down on lower bids; Vietnam prices stable Indian market cont...Read More
Pig iron export prices from the south of Brazil have gone down slightly this week on lower sales to Asia, Fastmarkets heard on Friday May 17.Fastmarkets' weekly price assessment for pig iron exports from the southeastern Minas Gerais region of the country was $320-322 per tonne fob on May 17, down from $325 per tonne a week before.One cargo of 40,000 tonnes of pig iron was booked by a trader for t...Read More
European and UK austenitic and chrome steel alloy scrap prices decreased over the past week because of declining demand and lower ferrous scrap costs, sources told Fastmarkets on Friday May 17.Fastmarkets' assessment of the price for 18/8 stainless steel scrap solids in the UK domestic market was ?800-900 ($1,025-1,154) per tonne delivered on Friday, down by ?50 per tonne week on week.The corres...Read More
The domestic price for secondary steel billet in India has gone down by at least 200 rupees ($3) per tonne in the past week, in line with falling prices for finished long steel products such as rebar.The Indian domestic secondary billet price was assessed by Fastmarkets on Friday May 17 at 31,000-31,200 rupees ($441-444) per tonne ex-mill, down from last week's assessment at 31,200-31,400 rupees p...Read More
Export prices for Brazil-origin slab went down for a second consecutive week in the period ended Friday May 17, with buyers in the United States heard to be declining offers on fears that their country's annual quota for semi-finished steel imports will be almost completely taken up by July or early August.Fastmarkets' weekly assessment of the price for Brazil export slab dropped to $510-520 per t...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 226,361101,82578,759159,444296,627464,564477,211 Change from Prior Reporting Period 40,560-8,5655,69917,36658,19063,62555,324 Traders 18565775157267175 Small Speculators LongShortOpen Interest 53,43140,784517,995 4,33112,63267,956 non reportable positions...Read More
The major gold miners' stocks are drifting sideways with gold, their early-year momentum sapped by the recent stock-market euphoria. But they are more important than ever for prudently diversifying portfolios, a rare sector that surges when stock markets weaken. Their just-reported Q1'19 results reveal how gold miners are faring as a sector, and their current fundamentals are way better th...Read More
By: Richard (Rick) Mills, Ahead of the herd "It's the tail that wags the dog" is defined by Urban Dictionary as a way of persuading a large group of people. The phrase is usually employed in a situation wherein a cause that expects to elicit a certain effect, is in fact reversed. The 1997 film 'Wag the Dog' is about a powerful political strategist who tries to get a fictional president on boar...Read More
By: Jordan Roy-ByrneAlthough most of the precious metals sector has trended lower in recent months, Gold has held up well. It and the other, weaker components of precious metals got a boost on Monday when China retaliated with tariffs of its own. There has been little follow through since.This begs the question, will a trade war lead to a new bull market in precious metals?The short answer is y...Read More
Bitcoin is on the move again, a venomous snake in the grass. You might expect to find a reasonable explanation for cryptocurrency's sudden, spectacular rise from the dead. Instead, you get only dim-witted speculation that institutional players are starting to warm to it again. Fidelity, for one, reportedly will be buying and selling bitcoin for institutional customers starting in a few weeks. Wh...Read More
By: Ira EpsteinGold can't get over the 18-week moving average. Concerning..Read More
There is some serious manipulation in gold. Some bank or a cartel of banks have been selling gold futures on every rise from $1330 and also gold huge amounts around $1300. One of the possible reason is to protect options investment. May and November options expiry of every year attract huge investment every year. If this is the case, then gold prices should rise after ten days. Right now the m...Read More
Trading activity in the CIS export billet market slowed down at the end of this week when market participants took a wait-and-see position on whether the reduction in US import duty on Turkey-origin steel products would have a positive effect on prices.The United States lowered its tariff on steel imports from Turkey to 25%, from the previous 50%, with effect from Friday May 17."The Turkey import...Read More
Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWee...Read More
Gerald Celente is a pioneer trend strategist and founder of The Trends Research Institute. He is the author of the national bestseller Trends 2000: How to Prepare for and Profit from the Changes of the 21st Century and publisher of the internationally circulated Trends Journal newsletter. Gerald Celente is a political atheist. Unencumbered by political dogma, rigid ideology or conventional wisdom,...Read More
Click Here to Listen to the Interview - *the interview begins at 6:58 Axel breaks down the trade war with China and gives us some keen insights on the likely strategy being employed by President Donald Trump there, and also tells us why he sees inflationary pressures returning in the economy and the affects it will have on gold prices.Click Here to Listen to the Interview - *the interview begins...Read More