BMO Capital Markets looks for investors to include some gold in their portfolios during the remainder of 2018. Analysts note that holdings in global gold exchange-traded funds, which trade like a stock but track the price of the commodity, have risen to a three-month high following recent weakness in equity markets. “With macroeconomic risk now being supplemented by concerns over systemic fi...Read More
Turkey produced 3.20 million tonnes of crude steel in October 2018, a 4.30% decrease compared with October 2017, according to the Turkish Steel Producers Association (T???oeD).In January-October 2018, crude steel production in the country was 31,289,000 tonnes, a 0.78% year-on-year rise compared with 31,048,000 tonnes produced in January-October 2017, T???oeD said this week.The country produced 10...Read More
(Kitco News) - Recent record-high palladium prices won’t necessarily mean increased supply since the bulk of the metal is mined alongside other metals, meaning limited reaction to its own price picture, says Metals Focus.The consultancy said Tuesday that it looks for global palladium production to decline by 2% to 6.7 million ounces next year.There is an old commodity market adage saying...Read More
Iranian suppliers of billet and slab continued to cut prices in the second half of November to attract customers.Although several bookings were heard done in the market, the majority of customers refrained from business with the Middle East supplier due to the difficulties stemming from sanctions imposed by the United States.On November 5 the US announced the second round of sanctions against Iran...Read More
Gold has virtually done nothing for weeks, yet investors seem to be getting very nervous. There is no reason for gold investors to be concerned at these levels as gold continues to consolidate. Based on the emails I receive and the people I talk to, gold is looking more like a buy every day. We know that when a market is consolidating, it creates the biggest challenge for bit traders and investors...Read More
NEW YORK (Reuters) - World stock markets climbed on Wednesday, with earnings and gains in tech stocks lifting shares on Wall Street, and oil rebounded from a steep sell-off as U.S. government data pointed to strong demand.The recovery in U.S. tech and other momentum stocks boosted the benchmark S&P 500 stock index after it fell 3.5 percent over the previous two sessions. Shares of Amazon.com I...Read More
Albemarle Corp has entered into an exclusive deal with Australian miner Mineral Resources (MRL) that may lead to the development of new battery-grade lithium hydroxide plant in Western Australia.The companies have agreed to consider the creation of a joint venture that would own and operate the Wodgina hard rock lithium mine and ultimately develop an integrated lithium hydroxide operation at the s...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 20 points in pre-opening trade. Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for October Durable Goods Orders was a drop of 1.8% versus a gain of 0.8% in September. Actual was down 4.4%. Excluding transportation, consensus was an increase of 0.4% versus no change i...Read More
The following Fastmarkets noble alloys and ores prices changed on Wednesday November 21:Noble alloysFerro-molybdenum basis 65% min, in-warehouse Rotterdam, $ per kg Mo: $28.20-28.50 per...Read More
Key data from the Wednesday November 21 pricing session in Europe. Key drivers European suppliers resisted cutting prices or held off offering material altogether. The move follows a downward trend in alloy prices that started on September 12, when the market was assessed at $5.80-6.05 per kg, and stopped a couple of weeks ago.Alloy trading activity was generally quiet this week, with only deals...Read More
The London Metal Exchange is planning to launch a lithium contract in the second half of 2019 to meet growing demand from the electric vehicle industry, Fastmarkets learned during Asia Copper Week in Shanghai. The contract, announced as part of the exchange's Strategic Pathway in September 2017, will be settled against an index price, with Fastmarkets MB's lithium spot price index one of those bei...Read More
The Turkish steel producers have extended their absence from the deep-sea scrap markets due to sluggish demand for their finished steel products, sources told Fastmarkets on Wednesday November 21.In addition to their fears of renewed product outflows from China, the weakening local and export rebar prices have become another obstacle for the mills in Turkey.Rebar prices in China, in both the domes...Read More
Iron ore market participants took caution on Wednesday November 21 amid volatility in paper markets and continued drops in steel prices.MB 62% Fe Iron Ore Index: $74.06 per tonne cfr Qingdao, down $0.59 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.25 per tonne cfr Qingdao, down $0.59 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.06 per tonne cfr Qingdao, down $1.16 per tonne.MB 58% Fe...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction: iron oreIron oreRio Tinto, bilateral sale, 170,000 tonnes of 61% Fe Pilbara Blend fines, traded at $72.22 per...Read More
A common question people ask is, “Where did all my money go?” Sometimes it's a joke, but often it's a serious question. The reason people ask this question is because they do not fundamentally understand how cash flow works. They do not really control their money. Rather, it controls them.Today, many people are in financial trouble because they have too much cash flowing out of their p...Read More
The lull in the seaborne coking coal market persisted on Wednesday November 21 with Chinese end users maintaining a bearish outlook amid a drop in domestic coke prices in China."Our coking coal inventories are still at a moderate level of around half a month, hence we don't intend to procure any imported materials for the time being. Our selling price for coke will fall by 100 yuan ($14.40) per to...Read More
My conversation with Dave Gonigam caught me a bit off guard.“Zach, I like reading your work. But I wish you weren’t so darn BULLISH all the time!”And so began a lively discussion about where we are in the market cycle, what investors can expect in the months ahead, and how best to protect one’s wealth.(Dave, as you probably know, is the managing editor for The 5 Minute Fore...Read More
China's ferrous futures increased during morning trading on Wednesday November 21, with sentiment improving, especially when it came to steel contracts.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,686 yuan ($531) per tonne, up 63 yuan per tonneJanuary hot-rolled coil: 3,583 yuan per tonne, up 76 yuan per tonneDalian Commodity Exchange January iron ore: 511 yu...Read More
One of the questions I am asked most frequently in my global travels is what will be the cause of the next financial crisis. This question is asked by those who understand that this crisis is coming but want to pin down the date or a specific turn of events that will help them know when to react.My answer is always the same: We can be certain the crisis is coming and can estimate its magnitude, bu...Read More
"We are in a bear market."Here Morgan Stanley strategist Michael Wilson dumps ice water on Wall Street's head.His claim is as arresting as the shriek of "Fire!" in a packed playhouse... the sight of a naked woman in Sunday church... or a MAGA hat on Hillary's head.Has it finally come to pass after lo so many years? Are stocks sunk in a bear market?Today we interrogate this scandalous claim."If it...Read More