Ontario's government is working for the people by supporting the forestry industry in the Algoma Region and Manitoulin Island, creating 138 full-time jobs.Greg Rickford, Minister of Energy, Northern Development and Mines, announced an investment of over $2.6 million. Projects include: $2 million for Hornepayne Lumber in Hornepayne to reopen the community's idle sawmill.$255,349 for Kenogami Lake...Read More
The Wednesday Market Minute Global stocks slide as investors pare recent gains fueled by rate cut hopes and switched focused to slowing economic growth.President Trump says he's "holding up" U.S.-China trade deal, but still plans Xi meeting at G20 Summit: China won't confirm one-on-one sit down.China factory gate inflation, a key demand indicator from the world's second largest economy, slowed i...Read More
The flexibility to either produce lithium carbonate or hydroxide is essential to surviving in the lithium industry in the coming years, market participants said at Fastmarkets' 11th Lithium Supply and Markets Conference in Santiago, Chile, on Tuesday June 11.With lithium hydroxide continuing to grow in market share globally, participants expect the material to overtake lithium carbonate as the pre...Read More
Turkish pipe export prices have gone down slightly because of imminent seasonal holiday absences and the start of a new import quota period in Europe, sources said on Wednesday June 12.Fastmarkets' monthly export price assessment for Turkey-origin EN10219-standard, grade-S235 tube, with 2mm wall thickness, fell to $560-580 per tonne fob on June 12, from $570-590 per tonne on May 8.Pipe mills in Tu...Read More
You've never heard the name Riley "Floyd" Harris before now.Don't beat yourself up; very few people today remember Floyd's indelible place in history.It's not a stretch to say that you and I owe him a huge debt of gratitude for the role he played in shaping America's meteoric rise as a global energy powerhouse.Still scratching your head? You see, Floyd was a young engineer working for Stanolind Oi...Read More
Delrey Metals Corp. (CSE:DLRY, FSE:1OZ, OTC:DLRYF) has an option to earn an 80% interest in the Four Corners, advanced stage, iron-titanium-vanadium exploration project, located in Newfoundland and Labrador. We learned from Morgan Good, Founder, President and CEO of Delrey Metals, that the Four Corners Project has positive historical drilling, metallurgy, and development economics, as well as grea...Read More
Arvedi Group has warned that it expects 2019 to be a "difficult year" on a number of factors, including a struggling economy, high imports and the effects of carbon dioxide (CO2) emissions quotas on energy costs, president Giovanni Arvedi said.Imports of hot-rolled coil, a key Arvedi product, to Italy increased by 54% in the first four months of 2019 compared with the same period in 2018, the Ital...Read More
Eastern China's hot-rolled coil prices retreated on Wednesday June 12 after trading thinned following a short-lived rebound a day earlier.DomesticEastern China (Shanghai): 3,830-3,840 yuan ($554-555) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,780-3,800 yuan per tonne, unchangedTrading activity fell after prices bounced back on Tuesday, tracking an overall retreat in the country's...Read More
ArcelorMittal, the world's largest steelmaker, is developing a transformation plan for its Belval and Differdange long steel sites in Luxembourg, a company spokeswoman told Fastmarkets in the week beginning Monday June 10.The plan will affect the sales and maintenance departments, Luxembourg labor minister Dan Kersch told a parliamentary committee in the country last week."The project does not inv...Read More
Domestic prices for hollow steel sections in both Northern and Southern Europe moved up this week on higher feedstock costs and increased offer prices at mills, sources told Fastmarkets on Wednesday June 12.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was ?,?620-640 ($702-724) per tonne delivered on Wednesday, up from ?,?600-6...Read More
Prices for rebar produced and delivered in Southern Europe remained unchanged on Wednesday June 12 amid limited trading activity, market participants told Fastmarkets."Nothing has changed and steel producers don't want to sell at a cheaper price," a trader in Italy said.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?495-515 ($560-583) per tonne delivered on...Read More
Turkish steel mills booked more cargoes as they looked to take advantage of falling prices, sources said on Wednesday June 12.A steel mill in the Iskenderun region booked a Canada-origin cargo, comprising 10,000 tonnes of shredded or HMS 1&2 (95:5), 8,000 tonnes of rail and 12,000 tonnes of plate and structural (P&S) at an average price of $305...Read More
Seaborne iron ore prices were generally rangebound on Wednesday June 12, while buying interest remained for Australian Pilbara Blend products.MB 62% Fe Iron Ore Index: $106.60 per tonne cfr Qingdao, down $0.01 per tonne. MB 62% Fe Pilbara Blend Fines Index: $105.40 per tonne cfr Qingdao, down $0.01 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $111.10 per tonne cfr Qingdao, up $1.89 per tonne....Read More
Dave KranzlerIn April credit card debt was once again the largest contributor to the new all-time high in consumer debt, increasing by $7 billion vs. a decline of $2 billion in March. Student loan and auto debt hit all-time highs of $1.6 trillion and $1.16 trillion, respectively. I found the credit card debt numbers interesting because a report released by Experian showed that 23% of Americans n...Read More
Stefan GleasonThe 2020 presidential election is already shaping up to be one of the most bitterly contested in history. The outcome could have enormous ramifications for all asset markets, including precious metals.In the meantime, a lot can happen before November 2020 - especially with the Federal Reserve apparently set to turn dovish and cut interest rates this summer.Some historical research...Read More
By: Stewart Thomson, Graceland Updates 1. A lot of Americans getting a myriad of government entitlements thought that President Trump would recreate the 1950s for them. 2. If Trump had eliminated the PIT (personal income tax), capital gains tax, and corporate income tax, I've estimated that around $100 trillion in capital would have surged into America.3. That w...Read More
Although there are a dozen good reasons why the bull market should flame out, like, tomorrow, there's nothing in the long-term charts to suggest this is likely. A friend and fellow permabear sent me an Elliott Wave theorist's prediction that the sensational run-up begun more than ten years ago could continue for another three or four years. This is based on a five-wave Elliott pattern that is cu...Read More
I am getting bullish on euro and pound. I also expect more losses for the US dollar index and gains for Asian currencies against the US dollar. A currency war can be unleashed by Trump anytime. Trump believes that nations will use currency depreciation to offset higher tariffs. The Federal Reserve will take direct and indirect measures to ensure the competitiveness of the US dollar. This implies...Read More
Iranian steel billet producers came to the market this week with offer prices that were lower than those heard before the holiday last week to mark the end of Ramadan, amid reduced demand in both foreign and domestic outlets.Billet was on offer from the Middle Eastern country for delivery in August at $390-395 per tonne fob Iranian ports in the week ended Wednesday June 12. This was down from offe...Read More
China's domestic rebar prices withdrew on Wednesday June 12 on lower list prices and declining futures.Domestic Eastern China (Shanghai): 3,880-3,920 yuan ($561-567) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,790-3,840 yuan per tonne, down 10-20 yuan per tonneA few major rebar producers lowered their ex-works prices over the past two days, which put pressure on the spot market, s...Read More