Flat steel import prices in the United Arab Emirates and Saudi Arabia increased over the past week, but buying activity remained limited.Deals were scarce because market participants were waiting to see if the price increases will be permanent, sources told Fastmarkets on Tuesday February 12.The buyers wanted to see if the price increases will be permanent, because raw material prices ha...Read More
Export prices for Chinese hot-rolled coil edged up further on Wednesday February 20, with exporters insisting on high offers amid expectations that the domestic market - though it weakened during the day - would pick up due to rising costs upstream.DomesticEastern China (Shanghai): 3,720-3,750 yuan ($550-554) per tonne, down 30 yuan per tonneNorthern China (Tianjin): 3,670-3,700 yuan per tonne, do...Read More
Wire rod prices in the United States have decreased due to slower market activity while import pricing remains firm due to a lack of fresh offers, market sources said.Fastmarkets' assessment for industrial quality low-carbon rod was $38.25-40 per hundredweight ($765-800 per short ton) fob mill on Tuesday February 19, down from $39.25-41.25 per cwt previously. Prior to the latest drop, wire rod pri...Read More
Slight price increases have begun to emerge for domestic hollow steel sections in Europe as a result of increases in the upstream steel coil market. ArcelorMittal, the world's largest steelmaker, announced on Tuesday February 19 that its prices for hot-rolled coil, cold-rolled coil and hot-dipped galvanized coil would increase by ?,?30 per tonne with immediate effect. The producer's higher HRC off...Read More
Steel beam prices in the domestic Northern European market were stable-to-soft this week, with poor demand continuing to outweigh rising raw material costs, Fastmarkets heard on Wednesday February 20.Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?600-630 ($679-713) per tonne delivered on February 20, widening downward by ?,?10 p...Read More
Turkish scrap import prices went down as expected on Wednesday February 20, following news of a fresh deal for a deep-sea cargo.A steel mill in the Marmara region booked a UK cargo of 10,000 tonnes of HMS 1&2 (80:20) at $316 per tonne cfr.The news of this cargo sent the daily scrap indices down sharply on Wednesday.The daily index for Northern Europe-origin HMS 1&2 (80:20) was...Read More
By: Craig Hemke, TF MetalsOver the past few months, we've written frequently about palladium and the threat it poses to The Banks' Fractional Reserve and Digital Derivative Pricing Scheme. As palladium prices are continuing to rise, we thought it best to explain this dynamic again today.A few years back, my friend Max Keiser coined the phrase "buy silver, crash JP Morgan". Back then it was hoped...Read More
Seaborne iron ore prices fell across the board on Wednesday February 20 amid a quiet trading day, while Fortescue Metals Group (FMG) announced its product discount levels for March.MB 62% Fe Iron Ore Index: $88 per tonne cfr Qingdao, down $1.21 per tonne. MB 62% Fe Pilbara Blend Fines Index: $87.40 per tonne cfr Qingdao, down $1.21 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.10 per tonne...Read More
- Jim Willie interviews Mark O'Byrne of GoldCore about the slowly erupting Global Financial Crisis II and the importance of being financially prepared but also "psychologically prepared" - "Not a single thing has been fixed" and vitally important people prepare now for the "next phase" of the currency wars and the global financial crisis which is set to impact financial markets, stocks, bonds,...Read More
China's steel and iron ore futures fell during morning trading on Wednesday February 20, while the coking coal and coke contracts ended the session a tad higher than their opening prices.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,592 yuan ($531) per tonne, down 38 yuan per tonneMay hot-rolled coil: 3,591 yuan per tonne, down 27 yuan per tonneDalian Commodity Ex...Read More
David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and he is the author of The Great Deformation: The Corruption of Capitalism in America...Read More
DOWNLOAD MP3Welcome to this week's Market Wrap Podcast, I'm Mike Gleason.Coming up Chris Martenson of PeakProsperity.com and famous author of The Crash Crouse and his latest book Prosper! joins me to dissect what's behind the Yellow Vest movement in France and why the mainstream media and those in power simply don't want you to know what's really going on there. Chris also tells us which p...Read More
Bond Market Turned Down & Interest Rates Up - Check!Two-Year yield bottomed September 2011Five-Year yield bottomed July 2012Ten-Year yield bottomed July 2016The 30+ year bond bull market is done.Housing Market Turned Down - Check!Mortgage rates bottomed in July 2016.Mortgage applications have fallen hard.London, Vancouver B.C. and Australian prices are down.New York, San Francisco, and Dallas pr...Read More
Because of its wide availability and exceptional conductivity, copper is found in everything from consumer products to automobiles to semiconductors. Last year global demand for the red metal stood at 23.6 million tons, and by 2027, it's projected to reach just under 30 million tons, representing an average annual growth rate of about 2.6 percent.This phenomenal growth is attributable not just t...Read More
By: RambusBelow is the combo chart which has the HUI on top, the UUP in the middle and GLD on the bottom. Everything looks fine.The GDX daily chart shows a nice breakout and backtest to the top rail of the bullish rising wedge and now the door is open for a move higher.Below is the weekly chart for the GDX which shows the breakout starting to gaining some momentum.Below is the weekly chart for...Read More
By: Ira EpsteinMetals roar to the upside - Palladium explodes to the upside. The world wants to inflate:Read More
Link to the Slides and Sources: https://www.itmtrading.com/blog/close...Once a central bank crosses a taboo boundary (QE, Negative Rates, using central bank balance sheets etc.) it becomes the standard. But there are other patterns occurring now too. Like the V shaped recovery of the stock markets since the Federal Reserve caved to market pressures. A V shape recovery is not stable and could come...Read More
ASIAN METALS MARKET UPDATEI am not concerned over the rise in gold prices. I was bullish on gold, I am bullish on gold and I will remain bullish on gold. There will be corrections in gold prices. It will not be a one way traffic. What will be the floor price/bottom price if gold prices fall? To me a correction of $100-$125 are a part and parcel of the bull rally in gold. Right now gold should no...Read More
Many elected politicians want socialism in a country founded on capitalism. Congressman Jack Bergman joins Robert to offer an inside look at our political climate. Bergman is a retired three-star general who speaks candidly about his colleagues in Congress, and offers solutions for citizens yearning for improved leadership.Robert Kiyosaki is best known as the author of Rich Dad Poor Dad, the #1 pe...Read More
Bill Ottman is an Internet entrepreneur and freedom of information activist based, and is also the CEO and co-founder of Minds. http://www.minds.comRead More