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Asian Metals Market Update: May-05-2020

May 05, 2020 / news.goldseek.com

There will be a sell off if gold and silver fall today. Crude oil is bullish. There will be renewed short term hot money in crude oil (long positions) if crude oil rises till Thursday. Gold is somehow managing to float over $1700. Corrections up to $1650 will be a part of the bullish trend. Short term bearish trend will be there only if gold falls below $1650. Day traders and jobbers need to rem...Read More

Gold and Silver, Lockdowns and Reopening / Commodities / Gold & Silver 2020

May 02, 2020 / marketoracle.co.uk

Theaction in silver is really interesting. Let’s check the prospects for volatilewhite metal, and the relevant historical analogy it offers. Is the major 2008 –2020 analogy in terms of price moves remains intact? In short, yes. SilverShares Its Two CentsSilverplunged to our initial target level and reversed shortly after doing so. It wasfor many months that we’ve been featuring t...Read More

HOTTER ON METALS: Auto supply chain gets harsh wake-up call from Covid-19

May 06, 2020 / www.metalbulletin.com

If ever there was a masterclass in the need to disaster-proof a supply chain, then the Covid-19 pandemic has provided a harsh reminder to the automotive sector that it's failing. It's a wake-up call for the industry, which, after a massive earthquake and tsunami hit Japan in March 2011, had vowed to end its "just in time" production philosophy and diversify its supply chain in orderto limit a repe...Read More

WEEKLY BASE METAL PREMIUMS REPORT: 05/05

May 06, 2020 / www.metalbulletin.com

A summary of base metals premiums from across the globe for the week to Tuesday May 5.Please click...Read More

About Gold Miners and Inflation / Commodities / Gold & Silver 2020

May 02, 2020 / marketoracle.co.uk

I think the case is closed, or it should be closed. But with firmly ingrained perceptions passed down from one generation of inflationist gold bugs to the next, you never know. Remember the old dismissive “gold is silver is copper is tin is oil is hogs” line from the 2003-2008 time frame? Probably not, but I remember it because it was me saying it against an army of inflationist commod...Read More

NLMK foresees double-digit steel demand slump in home markets

May 06, 2020 / www.metalbulletin.com

Russia's largest steelmaker, Novolipetsk Steel (NLMK), which also runs assets in Europe and the United States, expects steel demand to show a double-digit drop in home markets in the second quarter of 2020 and for the full year, the company said on Thursday April 30."In Russia, we expect a double-digit decline in steel consumption in May and June, with potential recovery starting in July," chief e...Read More

Gold Price Will Hit $3,000, But It's Going to Be a Wild Ride / Commodities / Gold & Silver 2020

April 30, 2020 / marketoracle.co.uk

Agora Financial's Byron King and John-Mark Staude of Riverside Resources offer their viewpoints on markets during the COVID-19 pandemic in this conversation with Maurice Jackson of Proven and Probable.Maurice Jackson: Today, we will seek to discover the true price of gold and silver and prospect generators. Joining us for a conversation is Byron King of Agora Financial, along with Dr. John-Mark St...Read More

The Crude Oil Futures Crash Is a Warning to Gold Speculators / Commodities / Gold & Silver 2020

April 29, 2020 / marketoracle.co.uk

The metals complex showed relative stability this week asthe oil market suffered a historic meltdown. West Texas Intermediate Crudecrashed 70% at one point this week on the continuous contract, bringing pricesbriefly below $7 per barrel. By Thursday, prices were trading between $14 and$18 per barrel.The volatility on the May futures contract was even moreextreme. On Monday, May futures for crude o...Read More

Gold and the Debasement of Currency Con / Commodities / Gold & Silver 2020

April 29, 2020 / marketoracle.co.uk

It is reasonably well known that many Romanemperors debased their currency (coinage). This was a very bad practice, sinceit is really a reflection of the debasement of the value of the kingdom (empireor country); going from a honest and just society to a corrupt and unjustsociety.One of the reasons (effects) of debasing thecurrency was the transfer of wealth from the citizens to the ruling class....Read More

Gold Stocks Bull Breakout! / Commodities / Gold and Silver Stocks 2020

April 29, 2020 / marketoracle.co.uk

The gold miners’ stockssurged to a major bull-market breakout this week!  Powering decisively above their years-oldsecular resistance is a hugely-important technical event.  It proves this gold-stock bull is alive andwell, greatly improves sentiment, and puts this high-flying sector on countlessmore traders’ radars.  New bull highs fuelself-feeding bullish psychology, as...Read More

IN CASE YOU MISSED IT: 5 key stories from May 5

May 06, 2020 / www.metalbulletin.com

Here are five Fastmarkets stories you might have missed on Tuesday May 5 that are worth another look.US President Donald Trump is threatening to abandon a preliminary trade deal leading to an easing of trade tensions with China, citing the Covid-19 virus.Employees at the Kroondal chrome mine in South Africa have been informed the facility will not restart after lockdown measures are relaxed b...Read More

HOTTER ON METALS: Auto supply chain gets harsh wake-up call from Covid-19

May 06, 2020 / www.metalbulletin.com

If ever there was a masterclass in the need to disaster-proof a supply chain, then the Covid-19 pandemic has provided a harsh reminder to the automotive sector that it's failing. It's a wake-up call for the industry, which, after a massive earthquake and tsunami hit Japan in March 2011, had vowed to end its "just in time" production philosophy and diversify its supply chain in orderto limit a repe...Read More

HOTTER ON METALS: Currencies and oil - miners' unexpected saving grace

May 06, 2020 / www.metalbulletin.com

The sharp decline in emerging market currencies combined with a collapse in oil prices are providing a twin saving grace for many metals and mining companies during the Covid-19 pandemic. For producers of energy-intensive metals like aluminium, and in particular the low-cost ones, the benefit is even greater. It's an emerging trend that is starting to be reflected in the earnings of corporates in...Read More

HOTTER ON METALS: Freeport may get Indonesia smelter reprieve

May 06, 2020 / www.metalbulletin.com

The Covid-19 pandemic may well provide Freeport-McMoRan with a silver lining it had never expected. The US copper producer is discussing with the government of Indonesia what should be done with the planned smelter in the Gresik region in the province of East Java. It has been forced to delay the completion timeline of December 2023 for the plant, due both to Covid-19-related disruptions to the wo...Read More

China's preference for cheaper iron metallic, semi imports continues into Q1

May 06, 2020 / www.metalbulletin.com

The trend for China to actively import relatively cheap iron metallics and semi-finished steel products seen in 2019 continued into the first quarter of this year, but can this be sustained? The answer to this question will come down to the price-competitiveness of the products, as Fastmarkets' research team detailed in the 2020 preview series earlier in the year. As the chart below illustrat...Read More

LIVE FUTURES REPORT 05/05: LME base metals rise despite China market absence

May 06, 2020 / www.metalbulletin.com

London Metal Exchange three-month base metals prices rose on Tuesday May 5, buoyed by increasing optimism for an increase in demand amid expectations that Covid-19 trade restrictions will continue to be eased in some parts of Europe while China's restart gathers momentum. China's market absence - due to the Labor Day public holiday from May 1 to May 5 - failed to dampen upward price momentum acros...Read More

IRON ORE DAILY: SGX 65% Fe contract registers robust trading volumes

May 06, 2020 / www.metalbulletin.com

The Singapore Exchange's (SGX) 65% Fe iron ore derivatives contract registered another strong month with 3.3 million tonnes traded in April, according to SGX data published on Tuesday May 5. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $84.04 per tonne, unchanged. 62% Fe low-alumina fines, cfr Qingdao: $86.70 per tonne, unchanged. 58% Fe fines high-grade premium, cfr Qing...Read More

STRONG Amount Of Physical Silver Standing For Delivery, Paper Trading Volume EXTREMELY LOW

May 05, 2020 / www.silverdoctors.com

Silver open interest is falling by huge amounts as well. Here are several things happening alongside the loss in open interest...by Harvey Organ of Harvey Organ BlogMAY 4//GOLD UP $12.00 TO $1705//SILVER DOWN 5 CENTS TO $14.81//A HUGE 25.6 TONNES OF GOLD IS STANDING IN THIS NON ACTIVE MONTH OF MAY//46 MILLION OZ OF SILVER STANDING//KEY FINDINGS FROM THE 5 I'S WITH RESPECT TO THE ORIGINS OF THE COR...Read More

COKING COAL DAILY: Gloomy outlook for Indian demand despite easing restrictions

May 06, 2020 / www.metalbulletin.com

Seaborne coking coal prices were unchanged on Tuesday May 5 in the absence of Chinese market participants observing a holiday for Labor Day, but pessimism is growing amid a negative outlook for Indian demand.Fastmarkets indicesPremium hard coking coal, fob DBCT: $107.12 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $117.33 per tonne, unchangedHard coking coal, fob DBCT: $93.26 per to...Read More

RESEARCH: Key takeaways from the latest Base Metals Market Tracker

May 06, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: 'Sell the rally' mentality here to stayAlthough the London Metal Exchange aluminium price has managed to recover modestly from recent lows, we suspect this is mostly short-covering. The lack of producer restraint, growing exchange inventories, a weak demand outlook and the 7 million tonnes of oversupply forecast f...Read More

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