Domestic prices for hot-rolled coil (HRC) in the EU have remained under pressure from slow buying activity in the past week, sources told Fastmarkets on Thursday November 22.European distributors were reported to have sufficient stocks of the material and this, in combination with a seasonal slowdown in demand, was reflected in the negative effect on the market.In addition, Turkish mills have decr...Read More
ROME (Reuters) - Economy Minister Giovanni Tria said on Thursday there was no need for “extraordinary” measures to defend the savings of Italians and said bank deposits had risen in both September and October.Speaking in parliament the day after the European Commission took the first step towards disciplining Italy over its big-spending 2019 budget, Tria also said that he was seeking d...Read More
China's hot-rolled coil market regained some stability on Thursday November 22 with buyers continuing to hold back from restocking.DomesticEastern China (Shanghai): 3,770-3,780 yuan ($543-545) per tonne, narrowing upward 10 yuan per tonneNorthern China (Tianjin): 3,680-3,700 yuan per tonne, down 10 yuan per tonneTrading activity remained sparse during the day. A Zhejiang-based trader told Fastmark...Read More
ROME (Reuters) - The plan to spin off the fixed-line network of former telecoms monopolist Telecom Italia would put at risk 20,000 jobs, a trade union source said on Thursday.Italy’s government is studying a spin-off of network assets from Telecom Italia (TIM). Il Messaggero daily said on Thursday 30,000 TIM staff would be transferred to the new fixed-line company together with assets - both...Read More
China's ferrous futures were largely steady during morning trading on Thursday November 22, with both steel and steelmaking raw materials contracts ending the session little changed from their opening prices.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,718 yuan ($536) per tonne, down 2 yuan per tonneJanuary hot-rolled coil: 3,612 yuan per tonne, unchangedDali...Read More
ANKARA (Reuters) - The European Union said Turkey needs to “take decisive action to reverse the current trend in the rule of law and fundamental rights,” according to a joint statement following meetings between the two sides on Thursday.Earlier on Thursday, top EU officials rebuked Turkey over its arrests of journalists and academics and the long pre-trial detention of a Kurdish polit...Read More
Rebar and wire rod prices in Turkey's domestic market fell on Thursday November 22, on a stronger lira and poor demand, sources told Fastmarkets.The Fastmarkets weekly price assessment for domestic rebar in Turkey was TRY3,080-3,220 ($576-602) per tonne ex-works, down from TRY3,250-3,400 per tonne.Rebar in the Izmir and Karab? 1/4 k regions was TRY3,100-3,200 per tonne, while in the Istanbul...Read More
LONDON (Reuters) - Britain and the European Union agreed a draft text setting out a close post-Brexit relationship on Thursday, though wrangles over fish and the future of Gibraltar must still be settled before leaders meet on Sunday.Below are initial reactions from lawmakers within Prime Minister Theresa May’s Conservative Party who are unhappy with the deal:Conservative lawmaker Andrea Jen...Read More
BEIJING/SHANGHAI (Reuters) - Tesla Inc (TSLA.O) is cutting the price of its Model X and Model S cars in China, the U.S. firm said on Thursday, in a shift in strategy that will see it take more of a hit from tariffs linked to a biting trade war between China and the United States.The electric carmaker, led by billionaire CEO Elon Musk, said it will cut prices of the two models by 12-26 percent to m...Read More
MOSCOW (Reuters) - Russia hopes that all 20 members of the group of industrialized nations will support a multilateral approach to international trade regulation when they meet in Argentina next week, Russian G20 negotiator Svetlana Lukash said on Thursday.Lukash said G20 leaders, who will meet in Buenos Aires on Nov. 30, will discuss issues of global trade, climate change and international cooper...Read More
Turkish long steel export prices have gone down sharply on sluggish demand and falling global steel and scrap prices, sources said on Thursday November 22.Fastmarkets' weekly price assessment for rebar exports out of Turkey was $490-500 per tonne fob on an actual weight basis on Thursday, down from last week's $505-510 per tonne.The mills in the country lowered their offers to $500-510 per tonne f...Read More
BEIRUT (Reuters) - Lebanon marked 75 years of independence on Thursday but while the military staged an invitation-only parade, many citizens saw little to celebrate with the nation’s economic problems and political stalemate deepening.As the army closed off streets for its ceremony, protesters angry at worsening living conditions marched through Beirut under the slogan: “Our independe...Read More
YOKOHAMA, Japan/PARIS (Reuters) - Nissan Motor Co’s (7201.T) board voted unanimously to oust Chairman Carlos Ghosn on Thursday after the shock arrest of the industry heavyweight, ushering in a period of uncertainty for its 19-year alliance with Renault (RENA.PA).The Japanese firm said its board also voted to remove Greg Kelly - who like Ghosn has been arrested after allegations of financial...Read More
Steel billet import prices in Egypt have fallen slightly over the past week amid poor demand and lower offer prices, while domestic rebar prices were unchanged despite expectations of lower values, sources said on Thursday November 22.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $475-480 per tonne cfr on Thursday, down from $480-485 per tonne cfr last week.Billet p...Read More
Trends forecaster Gerald Celente shares his observations and insight regarding the Great Reset taking place at every level and across the globe.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 circ...Read More
BRUSSELS (Reuters) - Trade tensions between the United States and China are likely to dominate the G20 summit of the world’s 20 biggest economies next week, according to a senior European Union official who said the EU was keen to act as a bridge-builder.The United States and China have been imposing tariffs on each others goods in an escalating dispute over market access, forced technology...Read More
*This interview was first published on 10/12/18James Rickards discusses interest rates, the stock market, the US economy, precious metals, the risk of financial calamity, the future of the Fed and much more.Jim Rickards is a lawyer, investment banker and economist with over thirty years' experience in capital markets. He is currently Chief Global Strategist at Meraglim. He advises the Department o...Read More
BRUSSELS (Reuters) - The German federal cartel office Bundeskartellamt expects a decision on the EU’s Facebook investigation in 2019, an official said on Thursday.Speaking at a conference in Brussels, Sandro Gleave said: “We are expecting a final decision early next year.”Reporting by Foo Yun Chee, editing by Robin Emmott Disclaimer: The views expressed in this article are those...Read More
*This interview was first published on 11/5/18Author and former Wall Street insider Nomi Prins discusses the role of central banks in the rigging and manipulation of global markets on the Great Reset Opportunity Report.Nomi Prins is an American author, journalist, and Senior Fellow at Demos. She has worked as a managing director at Goldman-Sachs and as a Senior Managing Director at Bear Stearns, a...Read More
Peter Schiff is an internationally recognized ecoanomist specializing in the foreign equity, currency and gold markets. Mr. 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, BusinessWeek, Tim...Read More