In 1995, a man named McArthur Wheeler robbed two Pittsburgh banks in broad daylight.He was caught within hours.It turns out Mr. Wheeler was no criminal mastermind. Instead of wearing a ski mask or any other kind of face cover, McArthur Wheeler's only disguise was lemon juice.You read that correctly: The man put lemon juice on his face as a mask!Upon his arrest, Wheeler was confused as to why his p...Read More
Export prices for hot-rolled coil (HRC) from the Commonwealth of Independent States continued to fall in the week ended Monday November 26 under pressure from price reductions in China, which led the trend in the global markets.Fastmarkets' weekly price assessment for CIS-origin exports of HRC was $470-480 per tonne fob Black Sea on November 26. This was down by $10 per tonne week on week."Falling...Read More
We're a nation of blamers.Whenever we're confronted with a problem, the first response is to find the "guilty party."Who's going to take the fall?Who's going to be thrown under the bus?Who's going to be placed in the modern-day stockades of social media criticism while armies of vulture ambulance chasers try to steal the wallets of roadkill pawns?In the latest move to end America's opioid epidemic...Read More
Import prices for steel slab in Southeast Asia and East Asia were unchanged over the past week in a quiet market, with no new trades or negotiations heard.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $460-470 per tonne cfr on Monday November 26, flat with the prior week.No bookings were reported. As a result, market participants agreed that the trada...Read More
China's domestic hot-rolled coil prices dropped sharply on Monday November 26 after sentiment worsened over the weekend amid a softening of the key billet market.DomesticEastern China (Shanghai): 3,600-3,620 yuan ($518-521) per tonne, down 130 yuan per tonneNorthern China (Tianjin): 3,550-3,560 yuan per tonne, down 110-120 yuan per tonneThe price of billet plunged by 160 yuan per tonne over the we...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index had a tough time generating any upward movement and slid a further 23.3 points or 2% to 1083.55 making for a 6% loss in the last three weeks.MACD fell -0.1 point to -2.7 for its second down week in a row. RSI also dropped moving down 2.4 points from 30.1 to 28.77. Som...Read More
Creditors of Brazilian steel producer and distributor A??o Cearense earlier this month approved a plan for the company's business recovery which included a restructuring of most of its debt.The company reached a deal with its creditors on November 9, in a meeting attended by 82% of its creditors, which between them held 98% of the company's debt.A??o Cearense filed for bankruptcy protection in May...Read More
Brazilian apparent steel consumption was 1.72 million tonnes in October, up by 3.70% year-on-year from 1.66 million tonnes in the corresponding month in 2017, national steel association Instituto A??o Brasil said on Friday November 23.Demand for flat steel grew in an annual comparison, but long steel was down on the same basis. This confirmed that the recovery in the long products sector in the co...Read More
CIS long steel producers have reduced their rebar and wire rod offer prices for foreign customers because of the downturn in the global long steel markets, notably in China, Fastmarkets heard on Monday November 26.The domestic rebar price in Eastern China dropped to 3,750-3,780 yuan ($540-544) per tonne ex-works on November 26 from 4,650-4,690 yuan per tonne ex-works on November 1.Recent offers of...Read More
Turkish steel producers continued to book deep-sea scrap for December deliveries at the beginning of this week, following the decrease in prices last week, sources said on Monday November 26.A steel mill in the Iskenderun region booked a UK cargo, comprising 14,000 tonnes of HMS 1&2 (80:20) at $320 per tonne and 6,000 tonnes of shredded at $330 per tonne cfr late on November 23.After this trade, t...Read More
Turkish domestic scrap prices have continued to weaken over the past week due to limited demand and falling finished steel values, sources said on Monday November 26.Fastmarkets' weekly price assessment for domestic auto bundle (DKP grade) ferrous scrap was TRY1,650-1,850 ($313-351) per tonne delivered on Monday, narrowing downward from TRY1,650-1,940 per tonne on November 19.Long steel producers...Read More
Physical iron ore prices plummeted on Monday November 26 following a slump in futures and steel markets, with Chinese steelmakers fearing losses. MB 62% Fe Iron Ore Index: $64.25 per tonne cfr Qingdao, down $5.88 per tonne. MB 62% Fe Pilbara Blend Fines Index: $63.52 per tonne cfr Qingdao, down $5.80 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $68.97 per tonne cfr Qingdao, down $4.10 per tonn...Read More
CloseGain/LossGold $1222.50-$0.30Silver$14.25+$0.01XAU64.73-0.83%HUI146.62-0.81%GDM536.53-0.64%JSE Gold1127.24-13.59USD97.05+0.14Euro113.34+0.05Yen88.76UNCHOil$51.63+$1.2110-Year3.067%+0.028T-Bond139.8125-0.1875Dow24640.24+1.46%Nasdaq7081.85+2.06%S&P2673.45+1.55% The Metals: Gold gained $5.20 to $1228.00 in Asia before it chopped back lower in London and New York, but it...Read More
Slab export prices from Brazil decreased in the week ended Friday November 23 due to weaker sentiment in global markets and the prices achieved in reported deals to the United States and Europe.Fastmarkets' weekly assessment of Brazilian export slab prices fell to $450-505 per tonne fob on Friday, compared with $505-515 per tonne fob a week before.Different Brazilian producers were heard booking v...Read More
By Ira EpsteinGold stalls out...again.https://www.iraepstein.com/ Read More
COLORADO SPRINGS, Colo., Nov. 26, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the "Company") declares its monthly instituted dividend of 1/6 of a cent per common share for November 2018 payable on December 24, 2018 to shareholders of record as of December 11, 2018. Gold Resource Corporation is a gold and silver producer, developer and explorer...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort165,506156,610115,384201,259224,399482,149496,393Change from Prior Reporting Period -2,910-21,053-7,434-9521,222-10,439-7,265Traders17494946056280207 Small Speculators (C) GoldSeek.com LongShortOpen Interest 43,79129,547525,940 -3,141-6,315-13,580 non reportable positionsChang...Read More
China's domestic rebar prices tumbled on Monday November 26 on big losses in the billet and futures markets. Domestic Eastern China (Shanghai): 3,750-3,800 yuan ($540-547) per tonne, down 150-170 yuan per tonneNorthern China (Beijing): 3,530-3,550 yuan per tonne, down 250 yuan per tonneThe billet market experienced a decline of 160 yuan per tonne over the weekend, which led to a deterioration of s...Read More
By Clint SiegnerIt is hard to cheer for the Department of Justice these days, but federal prosecutions have begun to offer hope for precious metals investors hurt by rigged markets and crooked traders.The DOJ looks poised to do what regulators at the CFTC have not. They will use evidence of blatant cheating and fraud to hold a few bankers accountable.Last week, DOJ officials asked the judge in a...Read More