The price of rebar produced and delivered in Northern Europe widened upward slightly this week despite the market being largely quiet with many buyers waiting for the renewal of EU import quota balances on July 1, sources told Fastmarkets on Wednesday June 19.From July 1, 2019 until June 30, 2020, 301,538 tonnes of Turkey-origin rebar will be permitted to enter the EU tariff-free. After this quota...Read More
Turkish steel producers have resumed their deep-sea scrap bookings after a short break of a day, but demand is expected to slow down, sources said on Wednesday June 19.A steel mill in the Iskenderun region booked a US cargo comprising 18,000 tonnes of HMS 1&2 (80:20) at $278.50 per tonne and 7,000 tonnes of shredded at $283.50 per tonne cfr. This compares with a deep-sea deal from this region on M...Read More
Physical iron ore prices continued to advance on Wednesday June 19 amid big gains in the futures markets following amelioration of trade tensions between China and the United States.MB 62% Fe Iron Ore Index: $114.08 per tonne cfr Qingdao, up $1.80 per tonne. MB 62% Fe Pilbara Blend Fines Index: $112.88 per tonne cfr Qingdao,up $1.80 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $115.81 per tonn...Read More
- Dave Kranzler"The latest University of Michigan consumer confidence report noted that its index tracking those who think it's a good time to buy a home has fallen by a hefty eight points in the past two months even as mortgage rates have dropped." - Danielle DiMartino Booth, "The Fed Can't Help Housing Or Autos At This Point"I'm not the only analyst who has concluded that lower rates likely w...Read More
Last week was a strong one for gold, which managed to eke out its fourth straight week of positive gains. The price of the yellow metal broke above $1,350 an ounce last Friday, while gold miners, as measured by the NYSE Arca Gold Miners Index, tested their 52-week high.Investors sought safe haven investments on a number of geopolitical risks, including protests in Hong Kong over the now-delayed...Read More
- Stefan GleasonUncle Sam is going broke. That's not exactly news - at least not to anyone who has been paying attention to the sorry state of federal finances.Yet to most Americans, the ballooning national debt ($22.3 trillion and counting) isn't a problem that impacts their daily lives. They won't directly perceive the cost of another trillion dollars in borrowing in the government's next fi...Read More
By Avi GilburtThe amount of discussion I am seeing on television, as well as in print, regarding what the Fed is going to do just amazes me. Are people this oblivious to the realities around them?I really have a hard time understanding this. So, maybe you good people can help me. The Fed was clearly going to continue raising rates this past winter. No one even questioned that. Well, almost no on...Read More
By: Robert LambourneThe statement of account for May 2019 of the Bank for International Settlements, published this week, indicates that the bank is still trading gold swaps, which the bank uses to gain access to gold held by commercial banks. But the statement indicates that bank's recent activity in the gold market is much reduced from its activity during the second half of 2018.There is not e...Read More
- Stewart Thomson, Graceland Updates 1. It's my firm belief that most Americans are living in a fantasy world where a superhero named President Trump is going to negotiate fabulous "America-first" trade deals with cowering governments around the world... and Americans will then magically relive the 1950s with massive GDP growth, even while QE to infinity becomes as American as apple p...Read More
By: Ira EpsteinGold in an overbought market challenging the high...Read More
Samarco - Vale and BHP's iron ore pellet joint venture - is likely to restart its operations in Brazil's southeastern Minas Gerais state in the second half of 2020.The restart will take place in "either the third or fourth quarter" of next year, according to Chris Barrington, the chief advisor to the International Iron Metallics Association (IIMA).He disclosed this in his presentation, The Global...Read More
Shipments of steel products from Iran remained unaffected by the conflict in the Gulf of Oman, which took place late last week, sources told Fastmarkets."We can still ship material," the country's major semi-finished steel producer told Fastmarkets.On June 13, two oil tankers (Norwegia-owned Front Altair and the Japan-owned Kokuka Courageous), reported an attack in the Gulf of Oman. Front Altair w...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
"They are going to keep lowering interest rates. It's monetary methadone. All these people are addicts. Morons and imbeciles call them 'investors.' They're addicts and gamblers. They can't stop, and all they want is that drug- monetary methadone. They are just going to keep filling it in until they OD."Gerald Celente is a pioneer trend strategist and founder of The Trends Research Institute. He is...Read More
Jordan Roy-Byrne, Founder of The Daily Gold joined me for a discussion on the set up in the gold market heading into the Fed meeting. We look at the spec position in gold and the USD as well as how gold has been preforming against other currencies of late. Finally a comment on the overall breadth in the gold stocks, which are great indicators of a potential breakout.Jordan Roy-Byrne, CMT is a Char...Read More
Overt smackdowns of gold as it persistently and repeatedly tests a 6-year resistance & support limit are becoming more obvious, more desperate, and eventually will be proven futile, according to veteran gold market watchdog Bill Murphy of the Gold Antitrust Action Committee (GATA.org.) Murphy returns to Reluctant Peppers to contend that we are witnessing the early stages of gold's breakout from a...Read More
China's domestic rebar prices increased on Wednesday June 19 on futures gains, but export prices continued to drop due to the need to sell. Domestic Eastern China (Shanghai): 3,820-3,860 yuan ($552-558) per tonne, up 20-30 yuan per tonneNorthern China (Beijing): 3,680-3,710 yuan per tonne, up 10-30 yuan per tonneRebar futures' rise led to more active trading in spot market and pushed up...Read More
The robot is designed to spy on citizens near parks and city buildings and relay the footage directly to law enforcementContinue...Read More
They used money that was allocated to fund Russian disinformation and fake news.Continue...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