The price of rhodium is quietly breaking out - and no one is paying attention.Since the beginning of the year, rhodium prices have increased by over 55%.What is rhodium?Rhodium is a member of a group of metals known as the platinum group metals (PGMs). These metals have similar physical and chemical properties and include platinum, palladium, ruthenium, iridium, osmium, and rhodium.Rhodium is an i...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Prices for coated steel products in Turkey decreased in the seven days to Friday March 15, with demand weak in both the domestic and export markets.Sources told Fastmarkets that demand is unlikely to improve in March because of market uncertainty ahead of the mayoral elections being held across the country on the last day of the month.The export market was also poor because of weak deman...Read More
In my latest Howe Street interview with Jim Goddard I assess the likelihood that we are heading into a recession. While we may not be there yet, I explain that insider sentiment in the US Industrials sector is flashing a warning sign.I also highlight how we have relatively bleak outlooks on Canada's two major railway stocks, noting insider selling has been taking place even as the companies have...Read More
Some steel coil prices in Turkey decreased again in the week ended Friday March 15, with buying activity remaining subdued.The market was unlikely to improve in March because of the uncertainty in the build-up to Turkey's mayoral elections to be held across the country on the last day of the month, sources told Fastmarkets. Market participants want to wait and see if end-user demand revives after...Read More
China's domestic hot-rolled coil prices moved down on Friday March 15 due to inactivity and declining futures following the announcement of cuts to the country's value-added tax. DomesticEastern China (Shanghai): 3,790-3,810 yuan ($564-567) per tonne, down 40 yuan per tonneNorthern China (Tianjin): 3,750-3,770 yuan per tonne, down 10 yuan per tonneTrading activity was lower than that on Thursday w...Read More
Fastmarkets has discontinued its weekly assessments of the Latin America rebar export price, which was reported on a dollar per tonne fob main port basis, with effect from Friday March 15.After a consultation period lasting two months, Fastmarkets has discontinued its weekly assessments after receiving feedback that there was now limited spot liquidity in the market for this material, with most vo...Read More
Import tariffs on steel products in the United States created under Section 232 are likely to remain in place at least until the end of 2019, the chief executive officer of Gerdau, Gustavo Werneck, said during an event at the New York Stock Exchange on Wednesday March 13.The move from Donald Trump's administration boosted metal spread margins for steel producers in the US. This spread - calculated...Read More
Domestic prices for rebar in Poland have been stable over the past week, supported by strong demand, sources told Fastmarkets on Friday March 15.Fastmarkets' price assessment for domestic 12mm B500B-grade rebar in Poland was 2,200-2,320 zloty ($578-610) per tonne ex-works on March 15, unchanged over the week.The assessment reflected deals and offers heard in the market. Polish steelmakers have bee...Read More
Global scrap prices mostly trended upward during the working week from Monday March 11 to Friday March 15, with the exception of prices in Turkey, where lackluster sales of finished steel products limited buying activity during the week. Lackluster finished steel sales in Turkey limit scrap buying US export prices up on bulk sale to Turkey Northern Vietnam mills still hungry for scrap Mixed sentim...Read More
* FTSE 100 up 0.6 pct * FTSE 250 up 1.1 pct * Sterling rally aids mid-cap index * Frankie & Benny's owner surges on sales rise * Just Group slips for 2nd straight day * Interserve slumps with administration imminent (Recasts, adds company news items, updates with closing prices)By Muvija M and Shashwat AwasthiMarch 15 (Reuters) - Britain's mid-cap index hit a 5-monthhigh on Friday, tracking a...Read More
Brazilian pig iron exporters were bullish this week because of long lead times for material from the south of the country, and resumed sales to the United States from the north of Brazil, Fastmarkets learnt during the week ended Friday March 15.Fastmarkets' weekly price assessment for pig iron exports from the southeastern Minas Gerais region was $336-340 per tonne fob on March 15, up from $334-33...Read More
UK prices for alloy steel scrap moved up slightly over the past week despite higher costs for nickel, sources told Fastmarkets on Friday March 15.Fastmarkets' weekly price assessment for domestic UK 18/8 stainless steel scrap solids was ?840-880 ($1,113-1,266) per tonne delivered on March 15. This was up from ?830-870 per tonne delivered a week earlier, reflecting transactions heard in the...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 205,250126,43175,211192,029300,503472,490502,145 Change from Prior Reporting Period 2,62211,82115,48136,29730,77454,40058,076 Traders 19867845056283176 Small Speculators LongShortOpen Interest 57,54027,885530,030 4,31964358,719 non reportable positionsCha...Read More
The major gold miners are grinding higher in a solid upleg, fueling growing interest in this small contrarian sector. They've mostly finished reporting their fourth-quarter results, revealing how they are really faring fundamentally. Collectively the world's biggest gold miners continue to face serious challenges, which often stem from declining production. That makes stock picking more im...Read More
CEO Kenneth Lewis & Chris Waltzek Ph.D. - Download interview -- MP3 fileHighlightsLIMITED OFFER - FREE $5 IN ONEGOLD DIGITAL BLOCKCHAIN EXCLUSIVELY TO GOLDSEEK.COM PATRONS! (Remember to say Goldseek Radio sent you!)ONEGOLD Inc. holds physical gold and silver metals at the Royal Canadian Mint through our friends at APMEX and Sprott. CEO of APMEX and founder of ONEGOLD Inc., Kenneth Lewis return...Read More
Last week I was pleased to attend the Prospectors & Developers Association of Canada (PDAC) conference in Toronto. PDAC is one of the largest mining conferences in the world. More than 25,000 people turned out this year, many of them selling equipment services, exhibiting securities and investments, making presentations and much more. As was the case at the BMO Global Metals & Mining Confe...Read More
By: IRA EPSTEINPrecious Metals Update Video: Gold market is having a problem... biased is down as trend is up:Read More
By Avi GilburtWe are often directed to think that the market reacts in the same manner as Newtonian physics. We believe that a news event which accompanies a market move was certainly the "cause" of that market move. But, how often have we seen markets react in the exact opposite manner in which the substance of the news event suggests?While science has moved away from Newtonian physics, stock m...Read More
Face it, this monster could veer wildly in either direction right now, and even an Einstein could not confidently predict which. My heart's desire is to see the S&Ps plunge into the molten pit of hell by summer. The 2313.00 target shown suggests that, at least from a technical standpoint, this is possible. Presumably, the years-overdue collapse would drive out the crooks who have rigged shares...Read More