The latest forecasts from Fastmarkets' team of analysts is ready to view.Oversupply to persist in North America as demand slumpsPrices for welded oil country tubular goods (OCTG) and linepipe weakened further in April nearing historical lows, and there may be room for further pipe price retreat through the second quarter. Supply of ERW OCTG and line pipe is expected to continue to outpace demand f...Read More

Domestic steel beam prices in the United States slipped in April on weaker demand and price reductions by mills, while import prices edged slightly higher in the face of collapsing demand due to foreign mills resisting price cuts. Fastmarkets' monthly price assessment for steel beams 8 x 8-inch, fob mill US fell to $35.25 per hundredweight ($705 per short ton) on Thursday April 30, down by $1.25 (...Read More

Perry Gardner was 81 when he died.A former postal worker, Perry, and his wife moved to Florida after they retired.They had a beautiful home, a sizable nest egg, and the life they had always looked forward to.Unfortunately, Perry wasn't in the best shape.You see, about 10 years ago, Perry's knees started to give out.After years of wear and tear from walking his mail route, carrying multiple bags of...Read More

A summary of the financial results for Turkey's largest steelmaking group, Erdemir, for January-March 2020.In briefEarnings before interest, taxes, depreciation and amortization (Ebitda)1,068,037,000 Turkish lira ($153.07 million*), down by 38.36% from 1,732,790,000 lira in January-March 2019.Q1 2020 production, salesCrude steel production2.232 million...Read More

The Russian Steel Association has called for equal access to the country's railway infrastructure so that its members can export goods to eastern destinations, according to a local news report published earlier this week.Russian Steel unites the country's largest mining and steel companies.It filed an appeal to Russia's first deputy prime minister, Andrei Belousov, asking him to ensure that there...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.The first quarter continued the 2019 trend for China to actively import relatively cheap metallics and semi-finished steel, but can this be sustained? The answer to this question will come down to the price-competitiveness of the products, we believe. One additional incentive to continue to import metallics this year compare...Read More

While Microsoft MSFT (MSFT) is getting some attention in after hours trading on its earnings beat, earlier Wednesday our March 20th morning stock Sylogist (SYZ) reported quarterly numbers and raised its dividend 10%. That helped push the stock 4% higher. Part of their success in the quarter was driven by their NaviPayroll payroll application which is starting to gain momentum. The company also sa...Read More

The Turkish deep-sea scrap import market was almost silent again on Thursday April 30, with mills expecting even lower prices, sources told Fastmarkets.Overall demand for deep-sea scrap remains poor because of lower steel output and weak demand for finished steel, due to the measures put in place to curb the spread of the Covid-19 outbreak.At least six steelmakers have halted produc...Read More

Go big or go home, and the Fed chose big. Claudia Sahm, Director of Macroeconomic Research at the Washington Center for Equitable Growth, gives Pedro Da Costa an insider's view of the Federal Reserve's plans and goals. Drawing upon her experience as a former Fed Board Economist, Sahm analyzes the drastic measures the Fed is undertaking in order to shore up the American economy as it faces this un...Read More

Prices in the seaborne iron ore market continued to gain ground on Thursday April 30, in line with higher futures curves for steel rebar, but trading activity in the seaborne and Chinese portside markets slowed down before China's Labor Day holiday on May 1.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $84.04 per tonne, up by $1.54 per tonne.62% Fe low-alumina fines, cfr Qingdao: $86.70 p...Read More

Turkish import prices for steel billet have gone down over the past week on falling imported scrap values and weak demand, sources said on Thursday April 30.After about 10 days of silence in the deep-sea scrap import markets, one Turkish steel mill booked a Baltic Sea cargo on April 27 at $242 per tonne cfr for 26,000 tonnes of HMS 1&2 (80:20) and $252 per tonne cfr for 4,000 tonnes of bonus scrap...Read More

Prices in Southeast Asia's steel billet market sank in the week to Thursday April 30 amid market participants' concerns over a growing number of cargoes being offered in the spot market despite sluggish buying interest, Fastmarkets heard.The regulations imposed to curb the spread of the Covid-19 virus continued to weigh on steel demand and prices over the assessment week, sources told Fastmarkets....Read More

China's domestic rebar prices increased slightly on Thursday April 30 on rising futures following the release of the latest steel purchasing managers' index (PMI).Domestic Eastern China (Shanghai): 3,410-3,440 yuan ($481-486) per tonne, up by 10 yuan per tonneNorthern China (Beijing) - weekly assessment: 3,390-3,440 yuan per tonne, down by 30 yuan per tonne from last FridayChina's steel PMI for Ap...Read More

By Stefan GleasonApril marks a second month of truly extraordinary developments in markets - from negatively priced crude oil futures to a record spike in unemployment claims to a lockdown-defying rally in stocks.The financial media is touting the S&P 500's surge of more than 13% in April - the biggest one-month gain for the index since 1974.While stock market investors have made up a big chunk...Read More

RambusBefore we look at tonight's Precious Metals charts I would like to make a comment on the US stock markets. I will take some flack over some of the comments I'm going to make but that's fine as it won't be the first time nor the last.Let me start by saying, "The only rule when it comes to trading the stock markets is, "There Are No Rules." The other important rule that I live by is that, "t...Read More

By: Gary SavageGold testing $1,800 resistance, traders should take note of this area and possibility for more bullion banks attacking the metal as they remain heavily short. In the general markets, we are nearing the upside target..http://blog.smartmoneytrackerpremium.com/Read More

By: Ira EpsteinGold is strong, hard to break it. A lot of money printed and about to be printed and I think this got the gold market's attention:Read More

The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices have fared relatively well over the past couple of months in the face of the threat from the Covid-19 pandemic.In grade-304 material, the most common grade of stainless steel, prices were down by about 5-7% since the turn of the year - not bad, when compared with the falls in prices of other assets so f...Read More

Concerns over the possibility of lower Indonesian stainless steel supply emerged over the past week after local media reported that four people at the Indonesia Morowali Industrial Park - where a major producer is located - had tested positive for the Covid-19 virus. PT Indonesia Tsingshan Stainless Steel, which is located in the industrial park, did not issue any new offers this week, sources sai...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