Brazilian apparent steel consumption is set to fall by 14.4% in 2020 as first-half figures were largely affected by restrictions put in place to limit the spread of the Covid-19 pandemic, the national steelmakers' association, Instituto A??o Brasil, said on Monday July 27.Consumption is expected to total 17.96 million tonnes this year, compared with 20.98 million tonnes in 2019, the association st...Read More
Domestic prices for hot-rolled coil in Northern Europe increased day on day on Monday July 27 despite a seasonal decline in demand, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?409.66 ($477.38) per tonne on Monday, up by ?,?1.45 per tonne from ?,?408.21 per tonne on July 24.Monday's index was based on deals heard...Read More
Domestic prices for steel hot-rolled coil continued to recover in Northern Europe in the week ended Friday July 24, although at a slower pace due to the start of the seasonal market slowdown.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?408.21 ($475.69) per tonne on Friday, up by ?,?0.68 per tonne week on week and by ?,?13.84 per tonne month on...Read More
Strap in. Things are about to get wild for gold.The price of gold opened this morning, smashing through all-time price records, topping over $1,940 an ounce.Source: Barchart.comBut the party is just getting started.And on Wednesday at 2 p.m., gold may face its biggest moment in four decades.Gold's Crisis MomentGold is facing a crisis moment. And I mean that in the most literal way possible.Most of...Read More
Here are five Fastmarkets stories you might have missed on Monday July 27 that are worth another look.No spot trading was heard for imported rebar into Singapore in the week to July 27, due to high inventory levels and weak downstream demand, market sources told Fastmarkets.Will a call via social media...Read More
Brazilian apparent steel consumption is set to fall by 14.4% in 2020 as first-half figures were largely affected by restrictions put in place to limit the spread of the Covid-19 pandemic, the national steelmakers' association, Instituto A??o Brasil, said on Monday July 27.Consumption is expected to total 17.96 million tonnes this year, compared with 20.98 million tonnes in 2019, the association st...Read More
Finished steel import volumes into the United States again dropped both month on month and year on year in June, reflecting a lack of interest in foreign products due to weak steel market fundamentals.US finished steel imports totaled 1.3 million tonnes in June, down by 22.8% from 1.6 million tonnes in May and down by 31.8% from 1.8 million tonnes in June 2019, according to preliminary Census data...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK CIN rose 3.7 points to finish at 989.8 and has moved up 3.3% over the past 3 weeks.MACD fell 1.39 points to 0.31. RSI flattened out a bit, dipping 0.04 points to 62.66.Support is at 942.82 (50-day moving average) and 971.45 (20-day MA). Resistance remains at 1000 and 10...Read More
Turkish domestic steel scrap prices have continued to increase over the past week amid rising imported scrap values, sources said on Monday July 27.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 1,720-1,975 lira ($251-288) per tonne on Monday, up from last week's 1,660-1,940 lira per tonne.The Turkish steel producers have raised their buy p...Read More
Seaborne iron ore prices were down on Monday July 27, prompted by uncertainty over the short-term outlook due to escalating political tensions between the United States and China, according to trade sources. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $107.68 per tonne, down $1.71 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $109.66 per tonne, down $1.90 per tonne. 58% Fe fines hi...Read More
The United States government has been threatening to reduce an existing quota for imports of semi-finished steel products from Brazil in 2020, national steel institute A??o Brasil said on Monday July 27.US representatives are considering the possibility of blocking the fourth quarter quota for semi-finished steel, which would prevent around 351,000 tonnes of Brazil-origin slab and billet from bein...Read More
CIS export steel slab prices continued to increase in the week to Monday July 27, supported by the revival of trading activity in the Turkish market.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $400 per tonne on July 27, up from $385-390 per tonne week on week.In the first half of last week, several cargoes of Ukrainian slab totaling 45,000 tonnes were heard...Read More
Mark O'Byrne, GoldCore? + Gold prices have surged through the all time record nominal high of $1,915/oz in 2011 to over $1,942/oz today due to concerns about the outlook for stocks, bonds and other assets amid a very vulnerable U.S. and global economy.? + Gold has surged to new record highs in all major currencies today including new record highs in British pounds at ?1,514/oz and in euros at EU...Read More
By: Gary SavageThis phase usually will last 5-10 days. Key USDX technicals:https://blog.smartmoneytrackerpremium.com/Read More
By: Robert LambourneThe gold swaps and derivatives position of the Bank for International Settlements, which reached a three-year high in May, fell slightly in June, according to the bank's statement of accounts for the month:https://www.bis.org/banking/balsheet/statofacc200630.pdfThe BIS, which acts as a broker for many central banks, is estimated to have reduced its position in gold swaps and...Read More
Rambus/PlungerDuring the bull market years between 2000 and 2011 the US dollar and currencies played a key role in the PM complex bull market. Tonight I would like to go back and visit some of these old charts and see how they pertain to our current bull market.Lets start with a simple GOLD:USD ratio chart that goes back to the 2011 all time high in gold. The bottom for the ratio came in toward...Read More
If Trump wins in November, it is foreseeable that his many enemies will ratchet up their hatred for him to even more destructive extremes. A bloody civil war would become likely, escalating an already violent cultural battle to a new threshold. How this might impact our schools, workplaces and neighborhoods is unpredictable even if the tactical outcome is not. The red states, wide-open spaces wh...Read More
Gold and silver have now entered 'Phase 3' according to Mike Maloney. So what is it that has changed to bring us into this new environment? It is something that Mike has been expecting for some time, and is finally here: monetary demand. And as he hints towards the end of this video, 'You ain't seen nothin' yet'. Michael Maloney is a precious metals investment expert and historian. He is the found...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