Base metals prices on the London Metal Exchange were weaker across the board this morning, Wednesday October 7, while equity markets were mixed. US Federal Reserve chair Jerome Powel warned too little stimulus is worse than too much.International Monetary Fund chief Kristalina Georgieva warns economic "calamity is far from over".US President Donald Trump postpones stimulus talks with Democrats unt...Read More
I bumped into a co-worker today who seemed a little too excited.He had made a pretty penny on Tesla's meteoric rise this year. The moment I saw him, the first thing he said was, "How much better can a car company do?""So you think Tesla is just a car company?" I asked.I could see him blinking in confusion.It turns out that Elon Musk may be even smarter than most people believe (if that's possible)...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 7 that are worth another look.Brazilian vehicle production fell by 11% in September 2020 compared with the corresponding month a year before, with producers increasing supply from April lows at a slow pace in order to prevent inventories from rising...Read More
Domestic prices for hot-rolled coil in Europe increased further week on week on Wednesday October 7, driven by long lead times from domestic mills and a lack of import offers, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?497.50 ($585.83) per tonne on Wednesday, up by ?,?1.04 per tonne from ?,?496.46 per tonne on Oc...Read More
Following an extended consultation period, Fastmarkets is to discontinue four Argentinian steel price assessments from Friday October 9, following a long period of low liquidity and an inactive spot market.The prices to be discontinued are as follows:MB-STE -0003 Steel hot-rolled coil monthly assessment domestic, exw Argentina, $/tonneMB-STE -0001 Steel cold-rolled coil monthly assessment domestic...Read More
Hollow steel sections prices in Europe moved up further this week while mills continue to pass on higher feedstock costs, market sources told Fastmarkets on Wednesday October 7.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?590-620 per tonne ($695-730) on Wednesday, up from ?,?580-590 per tonne one week previous.The price of hot-rolled coil, t...Read More
The low end of the steel H-beam price ranges in Europe moved up this week on positive producer sentiment after recent price increase announcements, sources told Fastmarkets on Wednesday October 7. Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?540-570 per tonne ($636-671) on Wednesday, narrowing on the low end from ?,?530-570 per tonne one wee...Read More
Gold has traded sideways for the last few weeks, but the price action is forming a bottom, said Frank Holmes, CEO of U.S. Global Investors.Despite market volatility ahead of the November presidential election, Holmes maintains his $4,000 price target."The bottom that you're seeing in gold is like a perfect Miami beach bottom. Gold will go up and it will go down, the DNA of volatility you can measu...Read More
Click Here to Listen to the InterviewJames Rickards, Editor of Strategic Intelligence, a financial newsletter and New York Times bestselling author joins Carol Roth to discuss the various reasons why different companies pay no federal income taxes, what the New York Times got wrong with the "expos?(C)" on President Trump's taxes and how you can reduce your own tax burden. Plus, a discussion on the...Read More
Trump temporarily dashes stimulus hopes.National debt tops $27 Trillion.Trade deficit in manufactured goods hits all time record high.Jerome Powell either doesn't understand the economy or is a liar.Lower-skilled government workers retiring with multimillion dollar pensions paid for by private sector.Donald Trump condemns white supremacy, but Joe Biden won't condemn Socialism.Peter Schiff is an in...Read More
George Edward Gammon is an American real estate investor and entrepreneur. He produces and stars in a popular YouTube Channel. Prior to 2012, George started, owned, and operated multiple businesses ranging from conventions to advertising. The last growing to 24 million in annual revenues and over 100 employees. After 12 years as a successful entrepreneur, at the age of 38, George semi retired and...Read More
Wearing a mask may save your life. Or it may just give you a vastly reduced or even asymptomatic experience with Covid-19 the disease. The logic is as easy as 1, 2 3. (1) Covid-19 is a bad disease - you don't want to get it. 2) Wearing a mask means that an infected person spreads fewer virus particles about. They lower the 'dose' they are leaving behind them in the world. (3) A lower dose for an u...Read More
Domestic steel rebar prices in Europe were largely rangebound in the week to Wednesday October 7, with market participants saying they believe prices have reached a top in both the north and south of the region.Northern Europe Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?470-480 ($553-565) per tonne on Wednesday, widening d...Read More
"Today, at the direction of President Trump, I declassified additional documents relevant to ongoing Congressional oversight and investigative activities." Continue...Read More
Gregory Mannarino started his career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. After realizing that working on Wall Street was not like the movies, he moved on to get a medical degree and practiced medicine as a Physician Assistant. He also served in the United States Naval Reserve Medical Service Corps, having attained the rank of Lieute...Read More
The amount of information coming out about this entire Soft Coup against Trump and how Hillary Clinton manufactured everything to distract people from the destroyed emails which were all obviously Continue...Read More
"I have fully authorized the total Declassification of any & all documents pertaining to the single greatest political CRIME in American History, the Russia Hoax. Likewise, the Hillary Clinton Email Scandal. No redactions!Continue...Read More
"We suggest that aggressive/short term traders be prepared to sell a rally generated by an agreement."Continue...Read More
Turkish steel mills continued to stay away from deep-sea scrap purchasing due to the weak domestic steel market, sources told Fastmarkets on Wednesday October 7.The country's steelmakers had booked three deep-sea cargoes at the end of last week, putting the HMS 1&2 (80:20) price at $284 per tonne cfr for European material and at $289 per tonne cfr for Baltic Sea-origin scrap.The previous Balt...Read More
Steel slab producers in Iran have managed to achieve higher sales prices in recent transactions amid improving demand in Asia and the resulting stronger prices.According to reports from market participants, several cargoes of slab from Mobarakeh Steel and its subsidiary Hormozgan Steel were sold to traders late in the week ended October 2 at $446 per tonne fob Southern Iranian ports.Another local...Read More