By Gary Savagehttps://blog.smartmoneytrackerpremium.com/ Read More
By Ricky WenOvernight price action overshot to 2830 support on the Emini S&P 500 (ES), bottoming out at 2825.25, as price was oversold given the 100-point drop from the 2930s.As of the regular trading hours open, the ES was around the same spot as yesterday's closing price area of 2850, which coincides with our key 2850 level discussed below.What is the bias/gameplan going into today?For intrada...Read More
Thomas LuongoThere's been a concerted effort recently among the oligarchs I like to call The Davos Crowd to demonize cash. From hedge fund manager Ray Dalio pronouncing 'Cash is trash' earlier this year to the fear-mongering surrounding COVID-19 making people fearful of dealing in cash because it might be tainted the anti-cash rhetoric has been amped up to eleven.And it's been no secret that the...Read More
Domestic prices for hot-rolled coil in Europe dropped again over the past seven days due to poor demand, sources told Fastmarkets on Wednesday May 13.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?413.50 ($447.96) per tonne on Wednesday, down by ?,?0.50 per tonne from ?,?414.00 per tonne on Tuesday. The index was down by ?,?8 per tonne week on week and down b...Read More
A summary of German steelmaker Salzgitter's financial results for the first quarter of 2020.In brief The impact of Covid-19 on Salzgitter's operations has been limited in the first quarter of 2020 but the situation remains tense. Industrial orders, revenues and production started to rise in January, but the recovery was interrupted by the Covid-19 pandemic outbreak. The effects of the Covid-19 pan...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 13 that are worth another look.China's Sichuan province is to implement an inspection regime to ensure steelmakers comply with the nationwide policy requiring the increased use of alloys to improve the quality of any rebar produced in the region.Glencore, Anglo American and Vale have been excluded from Norway's oil fund while...Read More
Europe's domestic prices for heavy steel plate have dropped again over the past week due to poor demand, sources told Fastmarkets on Wednesday May 13.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw northern Europe was ?,?470-490 ($509-531) per tonne on May 13, widening downward by ?,?10 per tonne from ?,?480-490 per tonne on May 6.The assessment is based on off...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
The three-month lead price on the London Metal Exchange was the underperformer at the close of trading on Wednesday May 13, slipping below nearby support levels against broad risk-off sentiment, while zinc futures similarly struggled over the afternoon.Lead's underlying price on the LME closed at $1,599.50 per tonne on Wednesday afternoon, falling from an intraday high of $1,632 per tonne, while t...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 13 that are worth another look.China's Sichuan province is to implement an inspection regime to ensure steelmakers comply with the nationwide policy requiring the increased use of alloys to improve the quality of any rebar produced in the region.Glencore, Anglo American and Vale have been excluded from Norway's oil fund while...Read More
Trading volume on the COMEX, however, remains extremely low...by Harvey Organ of Harvey Organ BlogMAY 12//GOLD UP $6.60 TO $1703.60//SILVER UP 5 CENTS TO $15.48//CORONAVIRUS UPDATE//OBAMAGATE REPLACES RUSSIAGATE AS OBAMA IS PLACED AT THE CENTRE OF THE SCANDAL//JIM SINCLAIR AND JOHN KIM..MUST VIEWS FOR TONIGHT//WAR OF WORDS ESCALATING BETWEEN CHINA AND THE USA//MANY SWAMP STORIES FOR YOU TONIGHT//G...Read More
The three-month lead price on the London Metal Exchange was the underperformer at the close of trading on Wednesday May 13, slipping below nearby support levels against broad risk-off sentiment, while zinc futures similarly struggled over the afternoon.Lead's underlying price on the LME closed at $1,599.50 per tonne on Wednesday afternoon, falling from an intraday high of $1,632 per tonne, while t...Read More
Zinc premiums in Shanghai and Northern Europe were on an uptrend in the week to Tuesday May 12, driven by an open arbitrage window and increased liquidity in both markets, while the market in the United States remained subdued amid a continued slump in the country's automotive sector.SHFE import arbitrage window opensEasing of lockdown measures boosts European liquidityUS buyers reluctant to commi...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 13.Please click...Read More
NexGen Energy's Rook 1 project in Saskatchewan, Canada. Credit: NexGen Energy.NexGen Energy (TSX: NXE; NYSE: NXE) has signed a US$30 million financing agreement with Queen's Road Capital Investment (TSXV: QRC) and plans to use the funds to advance work at its flagship Arrow deposit, part of the company's Rook 1 project in Saskatchewan."Warren Gilman, chairman and chief executive officer of Queen's...Read More
RAPAPORT... Delgatto Diamond Finance Fund (DDFF) will provide presale financing for rough from BlueRock Diamonds' Kareevlei mine in South Africa to help boost liquidity until diamond prices recover.BlueRock will sell its monthly parcel of diamonds to DDFF at 70% of a stipulated value agreed by both parties, and pay 1.25% interest per month, BlueRock said Wednesday. The miner will then ha...Read More
RAPAPORT... Alrosa is in talks to sell a considerable volume of diamonds to Gokhran, Russia's precious metals and gems repository.The Yakutia municipality, which holds a stake in Alrosa, has proposed that Gokhran buy diamonds worth $1.7 billion from the mining company this year, Reuters and Russia-based Interfax news agency reported on Tuesday. A spokesperson for Alrosa confirmed the parties...Read More
RAPAPORT... Sotheby's will offer a selection of items from its New York Magnificent Jewels auction at a special online sale in June, after the coronavirus put the live event in jeopardy.Some pieces originally consigned for that sale, as well as for the New York Fine Jewels auction, are now set to go under the hammer from June 9 to 16. They will feature in the Important Jewels online auction t...Read More
Domestic prices for cold-rolled coil in Europe have fallen further over the week despite limited trading activity, sources told Fastmarkets on Wednesday May 13.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe, was ?,?500-520 ($542-563) per tonne on May 13, compared with ?,?500-525 per tonne a week earlier. The assessment, however, was down by ?,?30-40 per tonne sin...Read More
RAPAPORT... Belgium's diamond trade fell to its lowest level on record in April as US orders dried up and the shutdown of the aviation industry made transporting goods almost impossible.Total diamond shipments in and out of Belgium slumped 89% year on year to $387.1 million as a collapse in trading in the first half of the month outweighed a slight revival in the second, according to the Antw...Read More