Turkey's imports of flat steel decreased by 52.69% year on year in November 2018, the Turkish Statistical Institute (TUIK) said on Monday December 31.The country imported 358,826 tonnes of flat steel, compared with 758,499 tonnes in November 2017, TUIK statistics showed. The decrease in imports was largely due to the negative sentiment prevalent in the domestic steel market since August this year,...Read More
Turkey produced 3.10 million tonnes of crude steel in November 2018, a 2.1% decrease compared with November 2017, according to the Turkish Steel Producers Association (T???oeD).In January-November 2018, crude steel production in the country was 34,429,000 tonnes, a 0.51% year-on-year rise compared with 34,256,000 tonnes produced in January-November 2017, T???oeD said last week.The country produced...Read More
Dear Friend of GATA and Gold:When GATA got started in January 1999 we figured that the rigging we saw in the gold and silver markets was the work of the big investment banks that heavily traded the monetary metals on the futures exchanges. Our idea was to gather evidence of their collusion and then sue them for triple damages under the Sherman Act, the Clayton Act, and the anti-trust laws of the...Read More
Graceland Updates By Stewart ThomsonJan 1, 2019 1. As the new year begins, gold continues to gain respect as the ultimate investment asset. Unfortunately, the same cannot be said for the US dollar.2. Most investors tend to view the dollar as a "safe haven", but the big bank FOREX traders that really move the currency market view the dollar as a risk-on asset class.3. They...Read More
By Steve St. AngeloIf history is our guide, we are on track for a severe market meltdown in 2019. While the U.S. broader indexes remained in record territory for most of 2018, December turned out to be a complete disaster for stocks. So, even though the markets have reversed higher from their Christmas Eve lows, this is nothing more than a bear market rally.It's really that simple. Thus, a...Read More
- Are we to prepare for a global Debt Bubble Collapse in 2019?- 2019 to see the political and economic uncertainty of 2018 continue and likely to deepen- Investors lulled into a false sense of security by politicians, brokers, bankers etc.- Much "cheer leading" of the "economic recovery" narrative and by extension financial markets - particularly property and stock markets- Trade wars, currenc...Read More
Brazil's apparent steel consumption increased by 6.90% year on year in November, to 1.70 million tonnes, mostly due to an improved performance in the flat steel sector, according to the national steel association A??o Brasil.Apparent consumption of flat steel products grew by 11.70% in the same comparison, to 1.10 million tonnes, while long steel use declined by 0.80% year-on-year, to 606,000 tonn...Read More
I don't really believe in palm readers and crystal balls and tarot cards, but I respond to the need for them. - Stephan JenkinsI skate cautiously on the thin ice of making predictions and realize its a fool's errand. But people love to read them and I usually get a few correct along the way.Here are my 10 predictions for 2019:1) Stocks bounce in early 2019, but continue to slide lower throughout t...Read More
It's been nine months since the United States announced Section 232 tariffs, and over six months since a 10% tax was applied to imports of aluminium from Canada, Mexico and the European Union. There's been a huge debate over how successful the tariffs - imposed on the grounds of national security and also applied at a 25% rate to steel - have been. Much depends on who you talk to, and what their s...Read More
Years ago, the idea that machines would replace humans on the trading floor seemed far-fetched and the suggestion that algorithms might replace humans entirely ridiculous.But both have happened in some shape or form, making the advent of blockchain - now being vaunted as the next game-changer in technology - a lot more realistic than naysayers might initially think.Dozens of trials and projec...Read More
Since its merger with Xstrata, Glencore - previously a trading and marketing firm - has become a mining firm whose earnings before interest, taxes, depreciation and amortization is dominated by earnings from its industrial activities. The recent appointment of Peter Freyberg as head of the company's industrial mining assets, a newly created position with oversight and responsibility for all Glenco...Read More
Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More
RAPAPORT... In the retail industry, "The customer is always right" haslong been the motto. This drive to please consumers means businesses areconstantly in search of new and inventive ways to make them happy. But where dothey start? What does the general public look for when making a purchase? Andwhat is everyone talking about when they say the new-age consumer is lookingfor an "experience"?T...Read More
RAPAPORT... Gem Diamonds has recovered a 125-carat diamond at its Let??engmine in Lesotho, bringing the company's annual haul of 100-carat-plus stones to15. It found the high-quality, white, type IIa diamond onDecember 20, shortly after unearthing two other stones weighing 101 carats and71 carats, the miner said last month. The total number of diamond discoveries above 100 carats beatsthe c...Read More
RAPAPORT... A slew of heists rocked the jewelry industry in 2018, making headlines worldwide. RapaportNews looks back at four of the biggest thefts of last year - and one of the tiniest. Swedish Royal Jewels In August, thieves stole priceless royal artifacts belongingto former Swedish monarchs Karl IX and Kristina. The robbers took the items froma display case during a raid on the Str??n...Read More
RAPAPORT... TrueFacet, a platform for pre-owned luxury watches andjewelry, is offering nearly $10 million in shares in its latest fundinground. The New York-based marketplace has raised $7.1 million of thetarget so far, according to a December 26 filing with the US Securities and ExchangeCommission. Including that amount, it has procured $21.8 million oversix rounds, according to investment s...Read More
(IDEX Online) - TrueFacet, which sells mostly pre-owned watches and jewelry items, has raised $10 million in a financing round, according to reports. The New-York based company sells pre-owned authenticated watches and jewelry. The company says it has more than 40,000 watches and 55,000 pieces of pre-owned authenticated watches and jewelry for sale on its site. It has more rec...Read More
(IDEX Online) - Las Vegas police said a suspect was killed and an employee injured after an attempted robbery turned into a shootout in the central Las Vegas Valley. Two suspects went into the John Fish Jewelers store and attempted to tie up a customer and employees in order to carry out the robbery. However, an employee in the back room, armed with a legal concealed gun, came out a...Read More
(IDEX Online News) - Price changes in round and fancy shape diamonds in December were fairly evenly divided between decliners and risers, with relatively few changes in the smallest and largest sizes. In round goods, stones of 0.23-0.29 carats in K, VVS1-VS2, fell 4%; in 0.30-0.39 carat diamonds D-F, VS2, by 2-3%; in 0.45-0.49 carat diamonds D, VS2-SI2, of 1-3%. Meanwhile, there were rises in diam...Read More
Around this time of year, it’s a good idea to stop and look back, taking stock of all the incredible and difficult things that happened over the last 365 days.The Internet is full of “Top 2018” lists that span the best books, movies, music, celebrity moments etc. to allow you to reflect on the past year.This week, I’m looking forward to the top trends and predictions for 20...Read More