TECHNICAL SCOOPCharts and commentary by David ChapmanChief Strategist, Enriched Investing Inc.Phone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12May 11, 2020 "The dead outnumber the living fourteen to one, and we ignore the accumulated experience of such a huge majority of mankind at our peril." Niall Ferguson, Scottish born historian, senior fellow...Read More
By Rob KirbyIn recent interviews I have "borrowed" a descriptive I originally heard from Chris Martenson explaining the effect of compound interest and exponential growth. The descriptive involved picturing Yankee Stadium and beginning with a drop of water and doubling the amount of water until the stadium was full. Regarding the compounding visual - I misspoke somewhat when I originally exp...Read More
By Stefan GleasonThe forces of deflation and inflation continue to tug at the economy simultaneously.The pressures on both sides are huge.On the deflation side, jobs, industrial demand, and the small business lifeblood of communities are contracting at an unprecedented pace. Meanwhile, trillions in credit card, auto, student loan, and mortgage debt that props up consumer spending and home values...Read More
The deflation and depression is right here, right now, and if you don't believe that, try asking some of the 30 million people who just lost their jobs in the US or those who (used to) work in the catering and tourism industries.The Fed is reacting to this situation by working to create hyperinflation because it finds it preferable to a deflationary implosion. There are two reasons for this - on...Read More
By Gary TanashianAs we noted in March while it was happening the sentiment environment became terror-stricken. Not fearful. Not over-bearish. Not even a contrarian extreme. Market sentiment was marked by full frontal terror as indicator after indicator (ref. Sentimentrader's historic readings week after week) got slammed to epic over-bearish proportions.Into the breach sprang the Treasury (i.e....Read More
By Richard (Rick) MillsCleaner skies owing to covid-19 lockdowns appear to be the silver lining of the global economy crashing to a sudden halt in March. In fact new evidence shows that high-polluting energy sources were on the wane, even before the coronavirus pandemic. According to the International Energy Association (IEA), fossil fuel usage in electricity generation dropped by 245 tera...Read More
COLORADO SPRINGS, CO, May 11, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ?EUR' Gold Resource Corporation (NYSE American: GORO) (the "Company") today announced multiple ore grade intercepts from its phase two drill program at the "Scarlet" target located 400 meters northwest of its operating Isabella Pearl mine in Mineral County, Nevada (see map). Near surface ore grade gold intercepts included 12...Read More
The three-month lead price on the London Metal Exchange continued to climb into the closing session on Monday May 11, climbing by more than 1.6% to its highest level in three weeks, while steady buying in zinc futures kept the galvanizing metal's forward price above nearby support levels. The lead price closed at $1,671.50 per tonne on Monday afternoon, its highest closing price since April 20, wh...Read More
The latest data for the global manganese ore market for the week ended May 11, 2020.Read More
Here are five Fastmarkets stories you might have missed on Monday May 11 that are worth another look.A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on May 11.The London Metal Exchange will not rush back into trading on the open outcry ring and is happy with the effectiveness of the current ele...Read More
After 12 years at the helm and two global crises, the president and chief executive officer of the American Iron & Steel Institute (AISI) is setting sail to calmer seas. The former naval warfare officer and self-proclaimed "policy guy" sizes up his legacy in a one-on-one discussion with Jo Isenberg-O'Loughlin.As a boy, all Thomas J "Tom" Gibson ever wanted to do "was fly an airplane and be an astr...Read More
A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on Monday May 11.Five new infections have surfaced in the Chinese city of Wuhan where the outbreak first came to light, while 11 new cases have been recorded in Shulan city in Jilin province. And in the South Korean capital Seoul, the authori...Read More
The three-month lead price on the London Metal Exchange continued to climb into the closing session on Monday May 11, climbing by more than 1.6% to its highest level in three weeks, while steady buying in zinc futures kept the galvanizing metal's forward price above nearby support levels. The lead price closed at $1,671.50 per tonne on Monday afternoon, its highest closing price since April 20, wh...Read More
One of the top primary silver mining companies is now breaking even producing silver. Here are the details...by Steve St Angelo of SRSrocco ReportOne of the top primary silver mining company's is now breaking even producing silver. Pan American Silver just released its Q1 2020 Report surprising analysts by posting a net loss of $77 million. However, if we go by the company's "Adjusted Earnings...Read More
China's domestic rebar prices weakened on Monday May 11, with downstream buyers taking a wait-and-see approach following futures losses in the afternoon.DomesticEastern China (Shanghai): 3,480-3,510 yuan ($492-496) per tonne, down by 20-30 yuan per tonneA Shanghai-based trader said trading activity in the spot market thinned during the day in comparison with last week, with sentiment dampened by t...Read More
Seaborne iron ore prices were largely stable on Monday May 11 amid slower port trading activity, while the market saw a solid premium for June delivery cargoes and good demand from Chinese mills. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $88.61 per tonne, up $0.01 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $91.18 per tonne, up $0.26 per tonne. 58% Fe fines high-grade premium, c...Read More
A uranium hexafluoride cylinder at Cameco's conversion facility in Port Hope Credit: CamecoONTARIO - Cameco has announced that it is resuming production at the uranium hexafluoride (UF6) plant within its Port Hope conversion facility and its Blind River refinery in Ontario. The two operations are planned to restart the week of May 18 and ramp up to full production by the week of May 25.On Apr. 8,...Read More
Domestic prices for hot-rolled coil in Northern Europe have moved down slightly day on day on Monday May 11 amid a slow market, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was ?,?420 ($454.99) per tonne on Monday May 11, down by ?,?0.83 per tonne from ?,?420.83 per tonne on Thursday May 7. The index is down by ?,?3.13 per tonne week o...Read More
RAPAPORT... US retail demand will recover slowly, with economic growth expected to bounce back in the second half of the year, according to the National Retail Federation (NRF)."Getting back to work or shopping in a pre-virus manner is difficult to predict at this time, with households likely to tiptoe back in rather than making an immediate return to the lives they experienced before," said...Read More
RAPAPORT... First place is usually something to strive for, but being the number-one target for cyberattacks that steal customer data is not a distinction retailers want. As jewelers move increasingly toward online offerings, their private information becomes less secure, while hackers become more sophisticated in their retrieval methods. The retail sector had a higher number of data breaches...Read More