Brazilian import volumes of both flat and long steel products increased in May 2019 amid increased shipments from China and Turkey.Imports of flat steel products rose by 11.64% in May, compared with the corresponding month last year, to 129,759 tonnes from 116,235 tonnes, according to figures from the Brazilian economy ministry.Flat steel imports in South America...Read More
The onset of the monsoon season in India has forced a major steelmaker to offload rebar to Singapore at prices below those offered by competitors from Turkey.The weekly Fastmarkets MB import price assessment for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $486-487 per tonne cfr for the week to Monday June 10, down $9-13 per tonne...Read More
China's rebar prices continued to fall on Monday June 10 in both the domestic and export markets amid declining futures and intensifying pressure to sell. Domestic Eastern China (Shanghai): 3,870-3,900 yuan ($560-564) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 3,800-3,840 yuan per tonne, down 40-50 yuan per tonneA price drop in the billet market over the weekend, coupled falling...Read More
Turkish deep-sea scrap import prices have gone down sharply, which was expected after the mills in the country failed to sell finished long steel products to the United States, sources told Fastmarkets on Monday June 10.Two steel mills in Turkey booked three US cargoes over the weekend.A steel mill in the Iskenderun region booked a US cargo on June 8, comprising 12,500 tonnes of HMS 1&2 (90:10) at...Read More
Turkish domestic scrap prices have inched upward over the past week because of the recent uptick in imported scrap prices, sources said on Monday June 10.Three steel mills in the Izmir region increased their buy prices for auto bundle scrap due to the rising cost of imported material.Long steel mill Habas increased its buy price for auto bundle scrap to TRY1,715 ($294) per tonne delivered,...Read More
StrengthsThe best performing metal this week was silver, up 3.06 percent, partly on the stronger gold price and on the news that the world's third largest refinery was forced to halt production due to a failed blast furnace. The yellow metal was on fire this week and is heading for its best week in a year. The weekly Bloomberg survey showed that most gold traders and analysts are bullish going...Read More
Stocks took another bold leap Friday, heedless of payroll data that suggest U.S. employers pulled back on hiring in May across all sectors of the economy. Their clear concern is a global slowdown in China and Europe that appears to be deepening. Copper and crude oil quotes have signaled this as well with a 12% fall in the former and a 20% plunge in the latter. So has the Ten-Year Note, which is...Read More
By: Ira EpsteinGold, there is reason for caution here:Read More
Seaborne iron ore prices edged up on Monday June 10 amid positive buying activity and gains in the futures markets.MB 62% Fe Iron Ore Index: $101.51 per tonne cfr Qingdao, up $0.91 per tonne. MB 62% Fe Pilbara Blend Fines Index: $100.31 per tonne cfr Qingdao, up $0.91 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $105.20 per tonne cfr Qingdao, up $1.16 per tonne. MB 58% Fe Premium Index: $92.61...Read More
The CIS export billet market was quiet in the first week of June with most potential customers on holidays, Fastmarkets heard on Monday June 10.But negative sentiment was spreading after the decline in import scrap prices in Turkey late last week, as well as the lack of interest among customers."Mills expected demand to pick up after [the post-Ramadan] holidays in the...Read More
Michael Pento is a specialist in Austrian economics and is the President of Pento Portfolio Strategies. Prior to starting Pento Portfolio Strategies he served as a senior economist and VP of the managed products division of another well known financial firm. Michael has also created ETFs and UITs that were sold throughout Wall Street. Earlier in his career, he worked on the floor of the NYSE. He i...Read More
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, as well as having worked as a senior strategist at Lehman Brothers and analyst at the Chase Manhattan Bank. Prins is known for her books All the Presidents' Bankers: The Hidden Alliances that Drive American Power and Col...Read More
"This idea that the Fed can just keep doing what they are doing and things can just keep marching along-no. We are finally at the end of the charade. It's lasted a lot longer than I thought it could. . . . Now, in 2019, we are right back to where we were in 2010."Known primarily by his nickname "Turd Ferguson," Craig Hemke is the founder and editor of the popular TF Metals Report blog and podcast,...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
Wolf Richter is the founder of Wolf Street Corp and the publisher of WolfStreet.com. Wolf has over twenty years of C-level operations experience, including turnarounds and a VC-funded startup. He has a BA, MA, and MBA (UT at Austin). In his prior life, he worked in Texas and Oklahoma, including a decade as General Manager and COO of a large Ford dealership and its subsidiaries. Read More
Yes, that's right: just when you thought the censorship from social media outlets like Facebook, YouTube and Twitter had hit a fever pitch, its now being Continue...Read More
Rep. Duncan Hunter (R-CA) found himself in hot water recently over comments he made in defense of Navy SEAL Edward Gallagher, who faces war crimes charges over his alleged conduct while serving in combat overseas. Gallagher is charged with stabbing a 15 year old ISIS member while in custody, of taking photos posing with the corpse of the teen, and with killing several civilians.Defending Gallagher...Read More
David Moadel is a trader and investor of stocks and options. A former elementary school teacher, David has a master's degree in education and a unique ability to convey knowledge in the area of finance. He has coached many people and likes to combine fundamental and technical analysis to help people find their own trading style.Read More
Jason talks about Beyond Meat (NSDQ:BYND) https://www.beyondmeat.com/ and how the stock, which IPO'd on May 1st, 2019 is having a massive short squeeze with gains of almost 40% on Friday and 21% today (Monday).Jason Burack is an investor, entrepreneur, financial historian, Austrian School economist, and contrarian. Jason co-founded the startup financial education company Wall St for Main St, LLC,...Read More
Dave Kranzler spent many years working in various Wall Street jobs. After business school, he primarily traded junk bonds for a large bank. Dave graduated from Oberlin College with majors in Economics and English and he also has an MBA from the University of Chicago, with a concentration in accounting and finance. Currently, he co-manages a precious metals and mining stock investment fund in Denve...Read More