China's ferrous futures moved up during morning trading on Wednesday December 5, with the hot-rolled coil contract taking the lead in the uptrend.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,407 yuan ($498) per tonne, up 27 yuan per tonneMay hot-rolled coil: 3,329 yuan per tonne, up 32 yuan per tonneDalian Commodity Exchange May iron ore: 472.50 yuan per tonne, u...Read More
The price for rebar produced and delivered in Northern Europe stayed flat week on week on Wednesday December 5, with consumers unlikely to make further purchases before the new year.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe remained at $540-560 ($614-637) per tonne delivered on Wednesday. Offers were expected to remain above the range for the rest of December and i...Read More
Hollow steel sections prices in Europe were stable this week but lower feedstock costs and a reduced import quota limit could bring about a significant change, market participants said.Fastmarkets MB's domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was an unchanged ?,?635-650 ($722-739) per tonne delivered on Wednesday December 5.The hollow...Read More
The price for rebar produced and delivered in Southern Europe was flat on Wednesday December 5, with market participants pulling back in anticipation of the year-end holidays.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe stayed at ?,?530-540 ($603-614) per tonne delivered for the third consecutive week on Wednesday, with no new business expected before the new...Read More
Turkish steel producers resumed their deep-sea scrap bookings as soon as they received lower prices from a European supplier, sources said on Wednesday December 5.Mills in Turkey were looking for prices at around $300-305 per tonne cfr for HMS 1&2 (80:20) while the offers for the material were firm at $310-320 per tonne cfr from suppliers in the United States and the Baltic Sea.But a steel mill in...Read More
Seaborne iron ore prices rose on Wednesday December 5 on an uptick in the iron ore futures contract.MB 62% Fe Iron Ore Index: $67.38 per tonne cfr Qingdao, up by $0.22 per tonne.MB 62% Fe Pilbara Blend Fines Index: $66.65 per tonne cfr Qingdao, up by $0.22 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $71.21 per tonne cfr Qingdao, down by $0.19 per tonne.MB 58% Fe Premium Index: $61.85 per tonne...Read More
By Jp CortezThe Great Recession, coupled with the "Ron Paul Revolution," prompted a renaissance of the sound money movement in the United States.As Germany, Russia, and China -- to name a few -- continue to increase their gold holdings, the hegemonic power of Federal Reserve Notes (referred to today as the dollar) is slowly slipping away.Simultaneously, whispers once relegated to fringe corners...Read More
Miles Franklin sponsored this article by Gary Christenson. The opinions are his.Official US national debt exceeds $21 trillion. National debt increases over $3 billion per day.Another day older and $3 billion deeper in debt!The U.S. government pays the interest by issuing new debt. But that new debt increases total debt and (eventually) drives up interest rates, which requires more borrowing to...Read More
By Gary Tanashian"The Harbinger of Doom"? Of course we (well, the media) are talking about the yield curve AKA Amigo #3 of our 3 happy-go-lucky riders of the macro. I have annoyed you repeatedly with this imagery in order to show that three important macro factors needed to finish riding before situation turns decidedly negative.Amigo 1: SPX (or stocks in general)/Gold RatioAmigo 2: 30 Year Trea...Read More
Dear Friend of GATA and Gold:In his November 16 edition, our old friend Jay Taylor, publisher of Jay Taylor's Gold, Energy, and Tech Stocks newsletter --https://www.miningstocks.com/-- wrote extensively about gold market manipulation and credited GATA for proving it. Taylor went on to present a chart of morning and afternoon gold price fixes from the London Bullion Market Association showing tha...Read More
By Craig HemkeCopper is often referred to as "Dr. Copper" for its ability to foreshadow moves in other markets and the global economy in general. Today we coin the term "Mr. Palladium", as this particular metal may be offering its own bit of foreshadowing. And what might that be? Perhaps the end of the entire LBMA/COMEX Digital Derivative and Fractional Reserve Pricing Scheme. You may recall tha...Read More
We'll be trusting Santa rallies a tad less as a result of Tuesday's take-no-prisoners selloff. Mainly, it'll be a matter of keeping the word "DISTRIBUTION!!!" well in mind every time shares take even a few mincing steps higher. That goes for AAPL as well, my one-size-fits-all bellwether. The stock had switched on the charm Monday, all but shouting "Buy me!" from the rooftop as the session ended....Read More
- Gold's "setup" is "similar to natural gas before its big rally"- Gold is gaining favour over stocks, bitcoin and cryptos- Metals may be primary beneficiaries of imminent greenback peak- Silver "appears ready for a potential longer-term recovery"- GoldCore editors note: Natural gas is 56% higher year to dateby Bloomberg Intelligence (appeared first on the Bloomberg Terminal)Metals should be pr...Read More
Vale has hailed the launch of a derivative contract by the Singapore Exchange (SGX) on Monday December 3 as a positive development for the high-grade iron ore market."The new 65% Fe derivative contract launched by SGX is a good move, and it shows interest in market for high-grade products," Peter Poppinga, executive director ferrous minerals, said at at company investor day on Tuesday December 4.P...Read More
Fastmarkets has today changed the publication time of its CIS export steel billet index, fob Black Sea ports, from 2pm to 4pm London time.Following a consultation period, Fastmarkets has made the change to better align the data collection window for the index with the trading patterns of the market, thereby ensuring that each daily index more accurately represents the trading activity of any given...Read More
Click Here to Listen to the InterviewGold, silver and related shares appear to be building a solid base for an advance as well as cryptos where Bitcoin could ascend to $25,000.The Blockchain concept will thrive as the backbone of the new Internet 2.0, with profound utopian-like implications for virtually every aspect of life.Entertainment, employment, banking, finance, education, legal, healthcar...Read More
Bubbles burst from the "outside in," Chris Martenson says. And that's what we're seeing right now. Cracks are appearing on the outside. Many junk rated debt and periphery country's stock markets are in bear markets. Watch out for the crisis to seek into the bigger sectors. The economy cannot grow exponentially in a finite world. An infinite model cannot run on a finite sphere. By 2020 - 2022, a ma...Read More
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 Markets (free ebook). Gregory currently hosts a b...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