The price paid for flat steel products imported in the United Arab Emirates (UAE) and Saudi Arabia increased over the past week, while demand for materials was limited, sources said on Tuesday July 2.The increase in price for steelmaking raw materials is one of the reasons for higher prices in the steel rebar market this week.Fastmarkets' daily index for Northern Europe-origin HMS 1&2 (80:20) was...Read More
Thank you for joining us in a weekly technical look at the mid-cap-oriented INK Canadian Insider (CIN) Index. The INK Canadian Insider Index tried to push higher and generate its 4th weekly gain in a row but could not move above 1125 resistance. In the end, the Index pulled back a modest 8.11 points to close at 1117.04.MACD fell 5 points to 0.7. RSI retraced 10.76 points to 57.13. A sustained mov...Read More
Alithya Group (ALYA) has an amibitious game plan to grow through acquisition and consolidating a fragmented IT industry. Find out more by watching our video summary of the June 28th INK morning report (distributed to Canadian Insider Club members). INK Research and Canadian Insider are both subscriber-supported. We do not accept payments from issuers or promoters for stock coverage.Your browse...Read More
Chinese cold rolled coil and hot-dipped galvanized coil (HDG) export prices rose during the week to Tuesday July 2 on bullish market sentiment following output cuts in China's steelmaking hub of Tangshan, while demand remained weak in multiple import markets.The price of Chinese CRC and HDG had tracked gains in the upstream Chinese hot-rolled coil market over the pricing week.Fastmarkets MB's dail...Read More
China's hot-rolled coil prices plunged on Tuesday July 2 after Tangshan's local government eased up on steelmaking restrictions in the region announced just a week earlier.DomesticEastern China (Shanghai): 3,920-3,930 yuan ($569-572) per tonne, down 80-90 yuan per tonneNorthern China (Tianjin): 3,880-3,890 yuan per tonne, down 40-50 yuan per tonneA futures trader in Shanghai said that many market...Read More
Prices for imported and domestic rebar in the United Arab Emirates have increased over the past seven days, but demand was still weak, sources said on Tuesday July 2.The reason for the higher prices for rebar was increases in the prices for raw materials.Fastmarkets' daily index for Northern Europe-origin HMS 1&2 (80:20) scrap was calculated at $292.09 per tonne cfr on July 1, compared with $273.8...Read More
China's domestic rebar prices retreated on Tuesday July 2 after Tangshan eased its steelmaking restrictions for July.Domestic Eastern China (Shanghai): 4,000-4,030 yuan ($584-588) per tonne, down 30-40 yuan per tonneNorthern China (Beijing): 3,950-3,980 yuan per tonne, narrowed downward by 10 yuan per tonneChina's steel production hub in the northern region released a notice on Tuesday detailing l...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebar, wire rodRebar East China, domestic, grade III 16-25mm...Read More
Turkish steel mills continued their deep-sea purchases of scrap cargoes for August shipments, with prices rising further, sources said on Tuesday July 2.A steel mill in the Iskenderun region booked a Baltic Sea cargo late on July 1, comprising 29,000 tonnes of HMS 1&2 (80:20) at $297.50 per tonne and 6,000 tonnes of bonus at $307.50 per tonne cfr.The same mill booked a...Read More
Seaborne iron ore prices continued to rise on Tuesday July 2, amid persistently tight supply and news about an easing of the restrictions on steel production in China.MB 62% Fe Iron Ore Index: $125.77 per tonne cfr China, up by $2.12 per tonneMB 62% Fe Iron Ore Index-Low Alumina: $126.24 per tonne cfr China, up by $0.48 per tonneMB 58% Fe Premium Index: $115.04 per tonne, up by $1.37 per tonneMB 6...Read More
It has been over half a year since the seaborne iron ore market got itself a new tool to manage price risks associated with exposure to the high-grade segment.And going by the performance of the Singapore Exchange's (SGX) 65% Fe iron ore futures contract so far this year, it is serving its purpose.On average, more than a million tonnes worth of the contract have been traded every month since its D...Read More
August Gold pulled a Pearl Harbor on bears and skeptics Tuesday, reversing early morning weakness with a surprisingly sharp rally. I'd expected another two weeks of corrective action myself after bullion's impressive run-up in June. However, the chart shows the futures to be bound most immediately for at least 1446.90. If so, that would be a new recovery high and an encouraging sign that even b...Read More
By: Ira EpsteinGold needs to break $1,427.80 then $1,446. Something is brewing in gold:Read More
Stewart Thomson, Graceland Updates 1. Major fundamental processes and events create the large chart patterns seen on the monthly charts. It's important for gold and stock market investors to stay focused on the big picture, both technically and fundamentally.2. To view the big technical picture for gold, please click here now. Double-click to enlarge. 3. Since 2001, my propriet...Read More
David HaggithThat didn't take long. On Saturday, well before the US stock market opened post-China-trade-talks, I wrote:The next step for the market would likely be that the remaining stock indices that have not pushed past their own previous peaks would now punch through. By that ... I meant those indices like the Dow that were very close to breaking past their old heights"Best-Case Scenario Ha...Read More
- Avi GilburtNote: Ryan Wilday and I just co-wrote this crypto article, and we thought you may find it interesting.Recently, the Winklevoss twins (who founded the Gemini crypto exchange) coined Bitcoin as 'Gold 2.0.' To support their perspective, they cited Bitcoin's scarcity, its fungibility and its portability as meeting or exceeding that of the yellow metal. Greyscale Investments, th...Read More
By: Ira EpsteinGold 18-DMA support $15 away:Read More
Stocks remained in the grip of a low-grade euphoria Monday, lightened by what is being referred to in the news as a 'thaw' in trade relations between the U.S. and China. No one expected much to happen on the trade front, and nothing much did other, perhaps, than a weekend during which there was no appreciable escalation in the tariff war. In this euphoric phase, stocks have generally wafted hi...Read More
David Morgan a/k/a Silverguru and I have been covering the precious metals markets for nearly 8 years. It's often been an exercise in futility. However, now David and I are relatively confident that the wait is over. And we're putting our money where our mouths are. This cycle could go on for quite some time. And silver hasn't even begun to join the fun. It's always the laggard in these market gyr...Read More
Topics:- Current state of the manipulation of gold & silver- How important is this week for the gold cartel?- Why has silver barely moved higher in price?- What's going on with the gold-to-silver ratio?- The gold standard, Freedom & Liberty- What if the cartel can't contain price this week?- The risk-reward for gold & silver and the gold-to-silver ratioBill Murphy is a former American professional...Read More