New export offers from CIS billet producers for July-rolling material appeared to be too high for customers to accept, which resulted in a lack of trading activity this week.Last week's successful sales of billet cargoes at $430-435 per tonne fob Black Sea to North Africa by several CIS mills inspired Russian and Ukrainian producers to increase their offers for July-rolling material to $...Read More
Gold premiums in top consumer China rose this week as investors bought the metal as a safe-haven due to rising trade tensions with the United States, while bullion demand moderated in India as local prices jumped to two-week highs.In China, premiums rose to about $14-$18 an ounce over the benchmark from $12-14 an ounce last week."Investment demand has been picking up, due to uncertainties on trade...Read More
Desert Gold Ventures (TSXV: DAU) announced this week that the Malian government approved the renewal of its permit to operate the Djimbala project in southern Mali.In a press release, Desert said the permit renewal is for an initial 3-year term, renewable for two additional 2-year terms, which gives the Canadian company control of Djimbala until May 2026.At present, the British Columbia-based mine...Read More
Safeguard measures against billet imported into Vietnam from Malaysia and Kazakhstan will be reinstated from June 13, according to an announcement by Vietnam's Ministry of Industry and Trade (MIT) on May 29.Vietnam's MIT previously granted Malaysia and Kazakhstan exemptions from the tariffs, which amount to 17.3%, in November 2018 after it found that the two countries' combined billet export volum...Read More
China's rebar prices resumed its downtrend on Friday May 31 amid declining futures, though the outlook for the market over the next week remains mixed.Domestic Eastern China (Shanghai): 3,940-3,980 yuan ($570-576) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,880-3,950 yuan per tonne, narrowed down 10-40 yuan per tonneTrading activity during the day was thinner than that on Thursday...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
Transaction prices for grade-304 stainless steel sheet narrowed lower this week ahead of lower alloy surcharges officially taking effect from June 1, sources told Fastmarkets on Friday May 31. Fastmarkets' price assessment for grade-304 cold-rolled stainless steel sheet was ?,?2,200-2,260 ($2,449-2,516) per tonne delivered to Northern Europe on Friday, down by ?,?40 per tonne on the high side from...Read More
Hebei Steel, China's largest steel mill, has kept its purchase price for silico-manganese unchanged at 7,600 yuan ($1,099) per tonne for June delivery, with suppliers trying to maintain higher offers amid rebounding prices in both the spot and futures markets, market sources told Fastmarkets MB.Hebei Steel, as the majority of market participants had expected, initially bid at 7,500 yuan per tonne...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 194,463107,77562,206191,290301,244447,959471,225 Change from Prior Reporting Period -9,165-7,048-21,32723,46325,479-7,029-2,896 Traders 17874875253270179 Small Speculators LongShortOpen Interest 57,16733,901505,126 3,512-621-3,517 non reportable positions...Read More
By: Ira EpsteinThe US Dollar very strong near two-year highs. Metals went into a state of collapse. Precious metals higher - fear will be needed to move the price higher..Read More
Here we go again. The Fed evidently has begun "conditioning" our "expectations" for a new season of quantitative easing. Fed Would Consider Interest-Rate Cuts if Growth Outlook Darkens is the headline atop a news story concerning a NYC panel discussion moderated by the central bank's vice-chairman. This is just what Wall Street and other promiscuous abusers of credit have been praying for l...Read More
If gold has not risen to $1350 in the next two weeks, then when will it rise? Apart from a strong US everything is bullish. (a) Trade war is between USA-China, USA-Eurozone. (b) Friendly Mexico will be imposed twenty five percent tariff until it stops illegal migrants from entering USA. (c) Every corporate is now cautious dealing with American companies and has starting taking measures to redu...Read More
Many people worry about the replay of the last economic crisis. But what if we look not in the direction from which the threat will come? What if we fight the last war? We invite you to read our today’s article about the possibility that the endgame will not to be a 2008-style financial crisis, but a slow, painful and unstoppable zombification of the global economy. And find out how it would...Read More
President Donald Trump said he would impose a 5% tariff on imports from Mexico The Dow ended more than 350 points lower, after President Donald Trump's surprise tariff threats against Mexico. In a series of tweets, the president said he would impose 5% tariffs on Mexican imports starting June 10, and will increase those tariffs until Mexico stops illegal immigration. Auto stocks, especially Genera...Read More
The silver miners’ stockshave been pummeled in recent months, plunging near major secular lows in late May. Sentiment in this tiny sector is miserable,reflecting silver prices continuing to languish relative to gold. This has forced traditional silver miners toincreasingly diversify into gold, which has far-superior economics. The major silver miners’ ongoing shift fr...Read More
How you can transform lagging indicators into leading indicators.No one ever said trading was going to be easy.Sometimes, do-it-yourself investing can feel about as scientific as throwing darts... and many traders give up, unable to figure out how they can break through the endless cycles of mediocre - or even straight up abysmal! - results.And when even the supposed "market gurus" or "experts" do...Read More
GDX, GLD, and NEM are all seeing heavy options trading todayAnother sharp sell-off in the U.S. stock market is boosting gold prices as traders seek safe-haven assets. This has sparked heavy options trading among several gold exchange-trade funds (ETFs) and mining stocks, including the VanEck Vectors Gold Miners ETF (GDX), the SPDR Gold Trust (GLD), and Newmont Goldcorp Corp (NYSE:NEM). Here's a cl...Read More
UBER is trading in positive territory after losing a billion dollars U.S. markets are taking a massive blow this afternoon, as President Donald Trump continues to ramp up global trade tensions. A pair of stocks also in focus today are ride-hailing service Uber Technologies Inc (NYSE:UBER) and drug name Genocea Biosciences Inc (NASDAQ:GNCA). Below, we will dive into what is moving the shares of UBE...Read More
Major indexes are set for their worst month of 2019The holiday-shortened and final week of May had no shortage of headlines, with another round of trade-induced fear taking investors by storm. Specifically, the Dow plunged to start the week, after President Donald Trump claimed the U.S. was "not ready" to make a trade deal with China. The U.S. 10-year Treasury yield suffered in response, exploring...Read More
Cienna stock just pulled back to a historically bullish signal on the chartsThe networking technology concern Ciena Corporation (NYSE:CIEN) has been trading lower on the charts since hitting its two-month peak of $40.76 in late April. Since stringing together seven consecutive losses, before bottoming out at a four-month low of $33.58 on May 15, CIEN has been consolidating between the $34 and $35....Read More