China's domestic lithium market remained weak over the week ended June 14, with lithium hydroxide prices drifting lower while the lithium carbonate market remained flat.Downstream buyers were cautious of buying more material and were waiting for a clearer price direction, while the lithium hydroxide market moved down due to poor demand and after some producers lowered prices to boost sales.Battery...Read More
Domestic prices for hot-rolled coil (HRC) in Turkey have been under pressure from slow trading, sources told Fastmarkets on Friday June 14.Buyers have been insisting on lower domestic prices, according to market sources. In addition, HRC buyers have been reported to have sufficient volumes of material in stock.Fastmarkets' weekly price assessment for Turkish domestic HRC was $520-530 per tonne ex-...Read More
Hot-rolled coil (HRC) import prices in India have fallen by $20 per tonne this week, with importers booking Japan- and South Korea-origin material for shipments in August, Fastmarkets heard on Friday June 14.The Indian HRC import price was assessed by Fastmarkets at $520-535 per tonne cfr Indian ports on Friday, down by $10-20 per tonne...Read More
In our June Top 40 Report, Pot is out and peas are in, we noted that insider sentiment in the pot-stock heavy Pharmaceuticals industry was not sending a bullish signal and suggested more weakness or consolidation ahead for cannabis stocks. Since the report, the Horizons Marijuana Life Sciences ETF (HMMJ) is flat as of late Thursday morning. Meanwhile, the longer-term trend continues to look weak...Read More
Eastern China's hot-rolled coil prices weakened further on Friday June 14, with rising inventory levels putting pressure on sellers.DomesticEastern China (Shanghai): 3,800-3,810 yuan ($549-550) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,780-3,790 yuan per tonne, unchangedThe domestic market remained inactive despite sellers making price cuts.A Tianjin-based trader pointed out tha...Read More
Domestic rebar prices in Poland have moved down this week due to the negative impact of competitive import offers, sources told Fastmarkets on Friday June 14.Fastmarkets' weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,000-2,120 zloty ($530-562) per tonne ex-works on June 14, compared with 2,100-2,150 zloty per tonne ex-works a week earlier.The assessment reflects...Read More
European long steel mills remain under pressure from weakening ferrous scrap prices and negative market sentiment, the International Rebar Producers & Exporters Association (Irepas) said in its latest short-range outlook on Friday June 14.While "the announcement of price increases by ArcelorMittal for long products, and the imminent maintenance at European mills could help to increase lo...Read More
China's crude steel and finished steel output both increased on a year-on-year basis in May amid strong demand and healthy profit margins.The country produced 89.09 million tonnes of crude steel last month, up 10% compared with May 2018, according to data released by National Bureau of Statistics on Friday June 14. That number is 5% higher than April's 85.03 million tonnes. Finished steel output t...Read More
Global ferrous scrap prices were mostly on a downward trend in the week ended Friday June 14 due to ample supply from key exporters and limited demand from buyers.While there were numerous bookings into the key Turkish market, the transactions were made at falling prices. This led to buyers in Asia shying away from purchasing cargoes because they expected the price downtrend to continue. Turkey bu...Read More
German steelmakers have settled their monthly scrap contracts for June at prices that are either unchanged or with a decrease of ?,?5 ($6) per tonne month-on-month, sources told Fastmarkets.Fastmarkets' monthly price assessment for domestic grade-E3 scrap in Germany was ?,?260-270 ($293-305) per tonne delivered on Friday June 14, compared with ?,?260-275 per tonne delivered in mid-May.Mills in the...Read More
European and UK alloy steel scrap prices have decreased this week because of soft demand and aggressive negotiations by mills, Fastmarkets heard on Friday June 14.Demand for alloy steel scrap was weak because of similarly poor demand for finished stainless steel products.Scrap traders have reported selling lower volumes than usual in the first half of June, and this situation was only likely to ge...Read More
Prices in Southeast Asia's steel billet market drifted lower on Friday June 14 because market participants in the Philippines were cautious about making any bookings ahead of the forthcoming rainy season, while trading activity in Indonesia had yet to resume fully after the Eid al-Fitr religious holiday.Market participants in Southeast Asia were also concerned about the bearish outlook for prices...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 250,11465,87659,835137,719339,746447,668465,457 Change from Prior Reporting Period 9,637-18,4862,9375,20234,65317,77619,104 Traders 19272665756280167 Small Speculators LongShortOpen Interest 48,99531,206496,663 -2,608-3,93615,168 non reportable positionsC...Read More
All the pieces are falling into place for the biggest gold bullmarket in history and by the look of the long-term gold chart, it is set to start very soon. The biggest reason of course is the accelerating demise of fiat. There are many other reasons that we will be considering going forward, but the one that looks set to trigger the immediate start of the bullmarket (and has already since the mo...Read More
- Gary TanashianI make the point in the title because the real fundamentals that matter for the gold stock sector must be in line at the beginning of a real bull phase or bull market for the sector. I make that point with the example of Q1 2016, when a very powerful gold stock "launch" erupted but in Q2 of that year we (NFTRH) were already advising a degrading of those fundamentals. A public...Read More
David HaggithThese are not the tiny champagne bubbles Don Ho used to sing about, but those greenish-gray floats of foam that pile up against harbor docks where the churn of the waves meets the oil spittle of boat motors. They are the economic froth that has piled up around us and is now beginning to fizzle.They are the bubbles of overbuilt retail space, heaps of junk bonds and layers of leverage...Read More
By: Ira EpsteinGold $1,360's zone resistance - but geo-politically, triggers exist:Read More
China's domestic rebar market resumed its downtrend on Friday June 14 on declining futures, with prices expected to fall further on mills' higher steel output. Domestic Eastern China (Shanghai): 3,870-3,900 yuan ($559-563) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,780-3,830 yuan per tonne, down 10 yuan per tonneWhile rebar futures moved upward in the first half of the day, th...Read More
During this 30+ minute interview, Jason first asks Danielle about the state of the US consumer?They discuss how credit card debt is on the rise among US consumers while jobs are being lost in many key states that Trump won during the 2016 election. The US consumer who did not benefit from all of these asset bubbles seems to not be doing well despite Trump's claims of the US economy being the "grea...Read More
Steve Forbes, CEO of Forbes unloads on the Fed and its horrific track record - with accuracy that's worse than a bunch of monkeys throwing darts at a dart board he says. He discusses Donald Trump's chances at reelection and lays out the case why you simply must have at least some gold in your portfolio.Steve Forbes is an American publishing executive who was twice a candidate for the nomination of...Read More