Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Tuesday September 15, with sentiment in the market remaining positive, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?476.98 ($565.72) per tonne on Tuesday, up by ?,?0.53 per tonne from ?,?476.45 per tonne on Monday.The index was...Read More
China's auto output and sales have posted annual increases over the past five consecutive months, which points to a steady recovery from the Covid-19 pandemic, the China Association of Automobile Manufacturers (CAAM) says.The country produced 2.12 million units of vehicles in August, up by 6.3% from a year earlier, while sales rose 11.6% year on year to 2.19 million units, CAAM reported last Thurs...Read More
The US Department of Commerce has announced an affirmative preliminary countervailing duty (CVD) determination on prestressed concrete steel wire strand from Turkey, according to a Tuesday September 15 statement. "Today, US Secretary of Commerce Wilbur Ross announced the affirmative preliminary determination in the countervailing duty investigation of imports of prestressed concrete steel wire str...Read More
The prices for steel rebar in the United Arab Emirates (UAE) local market increased this week, while market sources expecting imported rebar prices to follow, Fastmarkets heard on Tuesday September 15.Domestic rebarThe country's biggest producer Emirates Steel was offering rebar at 1,936 dirhams ($527) per tonne ex-works for October-production orders in effect from September 15, up from 1,830 dirh...Read More
China's domestic rebar prices stopped rising on Tuesday September 15 after falling futures and rain weakened demand.DomesticEastern China (Shanghai): 3,700-3,720 yuan ($545-548) per tonne, unchangedContinual rain in eastern China slowed down the consumption rates of rebar at construction sites as well as the transportation of the long steel product.A weakening of the futures also reduced buying in...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 15 that are worth another look.BHP has flagged inconsistent profits caused by volatile commodity prices as a key risk to its business.Rio Tinto is to launch its first closed-loop recycling program, offering customers in North...Read More
The Turkish steel mills continued to hold back from deep-sea scrap purchases on the second working day of this week amid softening demand for finished long steel products, sources said on Tuesday September 15.Mills in Turkey booked seven deep-sea cargoes, totalling around 230,000 tonnes, early last week before withdrawing from the market on September 10.The most recent deep-sea bookings put scrap...Read More
Seaborne iron ore prices eased on Tuesday September 15 amid a market-driven price correction from the previous day's sky-high prices, according to trade sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $128.52 per tonne, down by $1.65 per tonne.62% Fe low-alumina fines, cfr Qingdao: $128.90 per tonne, down by $1.32 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $118.02 per t...Read More
Steel slab exporters in the Commonwealth of Independent States (CIS) continued to enjoy higher prices in mid-September with support from strong demand for finished flat steel products in some customers' markets, Fastmarkets heard on Tuesday September 15.A cargo of slab from major Russian supplier Novolipetsk Steel (NLMK) was sold to Turkey at a price slightly above $470 per tonne cfr, sources told...Read More
Ray Dalio, the billionaire founder of investment management firm Bridgewater Associates, warns that if investors holding bonds choose to sell, it would put central banks in the difficult position of acting like a currency defense. Ray Dalio is an American businessman and founder of the investment firm Bridgewater Associates, one of the world's largest hedge funds. In 2012, Dalio appeared on the an...Read More
After 8 months of reporting only on the coronavirus pandemic, it's high time to zoom out and look at the other major trends that will shape the next several decades of our lives, as many of them will have just as much impact - or more - than covid-19.In this video, Chris makes the argument for pursuing *resilience* vs growth - both in our individual lives as well as a society.The blind pursuit of...Read More
Former CIA contractor turned whistleblower Edward Snowden shocked the world when he revealed the misdeeds of the US intelligence community and its allies. Now living in Russia, he is a noted privacy advocate and author who serves as president of the Freedom of the Press Foundation. His book, Permanent Record, is now available in paperback from Henry Holt and Company.Read More
Time Stamp References:0:45 - Covid and the depression.4:25 - Foreclosures and the CDC.6:20 - Now compared to 2008.10:30 - Fiat currency collapse.11:55 - Opinion on the Comex.18:15 - Contrarian investing.21:50 - Picking stocks by liquidity.24:05 - Hyperinflation and valuations25:50 - Greatest prices for commodities.27:30 - Adventures with Dr. Quinton.32:45 - His current book on investing.Tom welcom...Read More
Bill and Grant welcome historian, journalist and author Ed Chancellor to The End Game. Ed's remarkable book, Devil Take The Hindmost, chronicles three centuries of bubbles and manias and, in this wonderful conversation, he shares his thoughts on how and why they end, the historical parallels previous bubbles share with today and the likely problems the world faces at it moves through The End Game....Read More
Max interviews Michael Pento of PentoPort.com about his assessment of markets as we head into the end of the year. They look at Warren Buffett's move into gold and what the prospects are for inflation... or deflation.Max Keiser is an American broadcaster and film-maker. He hosts Keiser Report, a financial program broadcast on RT. He presents a weekly show about finance and markets on London's Reso...Read More
While central bankers, political powers, and financial elite provide a barrage of bewildering misdirection to ordinary people, we would be better served to note their actions, observe the trajectory and inexorable endpoint of the mega-trends that are being thrust upon us, and take decisive action so that we ourselves can, "live to play another day."Proprietary analyst Rob Kirby, founder of KirbyAn...Read More
Portside prices for both low- and high-grade manganese ore in China changed little over the week ended Friday September 11, with some alloy smelters retreating from the market after restocking to meet prompt production needs in the previous two weeks, market sources have told Fastmarkets.Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China, was 35.70 yuan ($5.24) pe...Read More
"We're here to change the course of history," Trump said on Tuesday. "This is an incredible day for the world."Continue...Read More
"Instead of us doing business with China and that leading to China becoming more free, what has happened is a place like China has bought our silence with their money."Continue...Read More
Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a global investment firm and one of the world's largest bond funds in the world. Dr. El-Erian also served as a member of the faculty of Harvard Business School. Before joining PIMCO, Dr. El-Erian was a managing director at Salomon Smi...Read More