Domestic prices for heavy steel plate in Southern Europe have been stable over the past week despite decline of slab prices and low demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for domestic grade-S235JR heavy steel plate in Southern Europe was ?,?555-570 ($623-640) per tonne ex-works on April 3, unchanged over the week.The assessment reflects the deals and offers...Read More
Competition regulators in the European Union have rescheduled their decision in the creation of a 50:50 European flat-steel joint venture between ThyssenKrupp and Tata Steel Europe to June 5 this year, the European Commission (EC) said on April 1."[On Monday], ThyssenKrupp and Tata Steel submitted a comprehensive package of proposed solutions to the European Commission to obtain clearance for the...Read More
Prices for steel rebar in the United States were steady for the moment, but market sentiment has become more mixed on reports that seasonal spring demand had yet to be heard or to provide a widespread boost to marketplace activity.Fastmarkets' assessment of the price of US domestic rebar remained at $35.25-36.50 per hundredweight ($705-730 per short ton) fob mill on Wednesday April 3.At the same t...Read More
The Thursday Market Minute Global stocks mixed as reports of U.S.-China trade talk progress offset by dismal industrial data from German and concerns for a global manufacturing recession.President Donald Trump will meet with China Vice Premier Liu He later today at the White House amid multiple reports of an imminent deal, although economic adviser Larry Kudlow cautions "we're not there yet".Ger...Read More
Brazilian flat and long steel import volumes dropped year on year in March 2019, mainly due to reduced shipments from China, according to figures released this week by Brazil's foreign trade ministry, MDIC.Imports of flat steel products into the country declined by 5.05% year-on-year in March, to 121,515 tonnes, from 127,981 tonnes.China was the largest provider of flat steel to Brazil, with 93,91...Read More
Participants in the long steel market in the European Union were hoping for price stability through April after recent sluggish demand and cautious buying activity, sources within the sector told Fastmarkets this week."The Spanish market is weak in price terms but consumption is improving," one trader said. "European mills have been more aggressive [in terms of price] so there has not been much im...Read More
Turkish steel producers remained silent in the scrap market for a third day on Thursday April 4, making no purchases of deep-sea cargoes while continuing to look for political clarity, sources told Fastmarkets.Mills continued to await official confirmation of the results of Turkey's countrywide mayoral elections, which were held on March 31.The main opposition Republican People's Party (CHP) has c...Read More
Fortescue Metals Group (FMG) plans to ship its first cargo of the high-grade iron ore concentrate product from its Iron Bridge Magnetite Project in Western Australia by mid-2022.The project will be able to produce iron ore at a rate of 22 million wet metric tonnes (wmt) per year or 20 million dry metric tonnes (dmt) per year once it reaches full capacity within the 12 months to mid-2023, the miner...Read More
By: David Haggith"The Fed's surprise pivot away from any interest rate increases this year has boosted prices of stocks, high yield bonds and other risky assets in spite of nagging investor concerns about slowing global economic growth..... The quandary for the Fed is that easy monetary policy seems more effective in spurring asset values than it does in boosting prices of goods and services....Read More
Physical iron ore prices were range-bound on Thursday April 4 after spikes earlier in the week, with China entering a long weekend from Friday to Sunday for the Tomb Sweeping Festival.MB 62% Fe Iron Ore Index: $92.90 per tonne cfr Qingdao, down by $0.18 per tonne.MB 62% Fe Pilbara Blend Fines Index: $92.02 per tonne cfr Qingdao, down by $0.18 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $95.53...Read More
By: Dave KranzlerThe stock market has been rising relentlessly since Christmas, riding on a crest of increasingly bearish economic reports. Maybe the hedge fund algos are anticipating that the Fed will soon start cutting rates. Data indicates foreigners and retail investors are pulling cash from U.S. stocks. This for me implies that the market is being pushed higher by hedge fund computer algos...Read More
By: IRA EPSTEINRead More
Export prices for CIS-origin billet dipped on Tuesday April 4, due to limited trading activity in outlet markets, sources told Fastmarkets. Fastmarkets' daily CIS export billet index was $442 per tonne fob Black Sea on April 4, down by $3 per tonne.CIS mills have been...Read More
The Turkish billet import market was very quiet this week, with demand for imported material still soft and the export and domestic markets also slow, sources said on Thursday April 4.The suppliers in the CIS region decreased their offers to $455-465 per tonne cfr because of the poor demand and weakening scrap prices.Fastmarkets' daily index for Northern Europe-origin HMS 1&2 (80:20) scrap, the fe...Read More
Jordan Roy-Byrne, Founder of The Daily Gold takes a look outside just the metals charts to assess the future moves in the metals sectors. We look at the recent moves of metals compared to the US markets. Also some of the recent data out of China and rebound in emerging markets is further drawing people away from the metals sector.Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of...Read More
Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast. Jeff is known to be an anarcho-capitalist activist and has written extensively about the impending collapse of the US dollar-based financial system.Read More
In this episode of the Keiser Report, Max and Stacy discuss the money supply increasing at the same pace as the S&P 500 stock market rally. Could they have anything to do with each other? Hmmmm. We wonder. They also discuss the rapidly increasing rents causing voters to demand action from candidates when, perhaps, the only problem is the central banks printing money for their member banks. In the...Read More
"I'm grateful for her support and for her kindness in this process and am very much looking forward to our new relationship as friends and co-parents," Continue...Read More
One of the most ruthless and unconstitutional powers federal judges have is to throw people into contempt until they break. The press NEVER reports the truth about the Continue...Read More
Since last November I've been forecasting that we are likely moving into another Dark Window of spectacular gains before a big crash in early 2020.Continue...Read More