Domestic rebar and wire rod prices in the Turkey dropped in the week to Thursday January 30, in response to falling imported scrap prices and limited demand, sources said.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey, was 2,960-3,000 lira ($497-504) per tonne on January 30, down from last week's 2,975-3,030 lira per tonne. ...Read More
Prices for steel billet imported into Egypt dropped again in the week ending Thursday January 30 amid weak demand, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?9,650-10,000 ($610-632) per tonne ex-works including 14% VAT, unchanged since last week.Deals were heard at these prices.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar),...Read More
The Turkish deep-sea scrap import market has gone quiet since the recent slip in prices, sources told Fastmarkets on Thursday January 30.The daily scrap indices went down by almost $10 per tonne on Wednesday, when a US cargo was heard sold at $275 per tonne cfr for HMS 1&2 (90:10).But the mills have mostly been quiet in the wake of this cargo deal, because they were still focused on rebar and bill...Read More
Japanese scrap prices continued to tumble this week, pushed down by disappointing demand in both the domestic and export markets, sources told Fastmarkets on Thursday January 30. "Steel mill production and demand in Japan is not so good, so scrap prices are decreasing, but scrap generation is also poor," one scrapyard source said "So even though the local mills' buying prices are falling, I don't...Read More
Heavy rainfall in the Brazilian southeastern state of Minas Gerais has caused interruptions for some railway operators transporting iron ore for exports, but the impact has been minimal, companies told Fastmarkets on Wednesday January 29.January 2020 has had the highest rainfall rate in 110 years, the Minas Gerais' state governor office said on Wednesday. Vale, the world's largest iron ore pr...Read More
Prices in Southeast Asia's steel billet market fell during the week to Thursday January 30 with market participants adopting a bearish outlook amid weakening ferrous scrap prices and uncertainty surrounding the coronavirus outbreak in Wuhan City, China.Nonetheless, billet demand from the Philippines is likely to remain steady until the onset of the rainy season in late May, sources told Fastmarket...Read More
Dear Friend of GATA and Gold:Our friend Paul Mylchreest, now an analyst for financial research firm Hardman & Co. in London, demolishes the London Bullion Market Association with an "open letter" released today, blaming the group's trading and reporting systems for suppressing the offtake of gold to about 5 percent of what it would be otherwise. These systems, Mylchreest suggests, benefit primar...Read More
By: Gary SavageGold traders can be too emotional and unless they can find a way to change that, they will not find success in the investment business.$GDX's big picture, resistance around 32 area. Bullion banks are heavily short and lost control of gold..https://blog.smartmoneytrackerpremium.com/Read More
Gary TanashianBecause it's so important to see this correctly and not pretend we (well, I) know more than we (I) actually do I find it important to look at pictorial representations of history and think about them when I get some quiet time (ha ha ha, like not on Twitter, not reading financial/gold websites and most certainly not watching TeeVee finance and news).So I am thinking about the Commi...Read More
By: Ira EpsteinGold has had the highest close in months! This is not bad action. Daily chart shows back filling. 18-DMA holding up market.. Read More
Just trade in the technical till Monday. Trump and his impeachment could be closed by Friday. This can result in some mild correction in gold. It remains to be seen how the prices in all metals and energies will move once China reopens. Various US jobs numbers will be released next week. Focus will be on global economy next week. Fundamentals will dictate price of all metals and energies next we...Read More
Trade disputes and geopolitical uncertainties had already made the prospects for global economic growth uncertain. A coronavirus has now added to the challenges facing financial markets.The epicenter of the virus is Wuhan, an important commercial hub in China that is home to 11.9 million people, including the country's largest student population. It is also a manufacturing hub, with around 500 fac...Read More
A new book put out by a so-called economic and political expert espouses the view that narratives shape reality and perception, which to some extent is true. But listen to Charles Nenner and learn about cycles. Perhaps it's the cycle that shapes the narrative and reality. Right now the narrative is all about the Coronavirus and its impact upon the economy. But perhaps, if it wasn't the virus, it w...Read More
Slides and Sources: https://www.itmtrading.com/blog/time-...A recent IMF survey of 17 advanced economies looked at every financial crisis between 1870 through 2013 and found that there is "a strong link between inequality and financial stability."In 1971 the average wage was $9,870. In 2019 the average was $48,672 according to the BLS (Bureau of Labor Statistics). Which would you rather have? But...Read More
*This video was recorded on 1/23/20This DoubleLine Event at the Peninsula in Chicago features Jeffrey Gundlach and Jeffrey Sherman as they discuss Macro & Markets, moderated by Sam Lau.Jeffrey Gundlach is the Chief Executive Officer and Chief Investment Officer of DoubleLine Capital. He is recognized as an expert in bond and fixed income investments. His investment strategies have been featured in...Read More
Charles Hugh Smith calls the Federal Reserve an evil organization. Their meddling in the economy results in the concentration of wealth to those at the top of the wealth pyramid and is fueling asset bubbles, creating widening wealth inequality.Discussed in this interview:01:53 Where has the trillions printed gone?05:12 Gap between Fed's theory vs reality08:29 Fed-created cartels16:19 The Fed is ev...Read More
Here for his first appearance with us in 2020, David Morgan, known as The Silver Guru, and founder of TheMorganReport.com, returns to Finance and Liberty / Reluctant Preppers to give us his outlook on where silver, gold, and mining stocks are likely headed. Morgan also shares a healthy dose of his studied philosophical perspectives on the economy, major trends, and impactful pitfalls of our time....Read More
They cut his mic off at the end..."We love Europe, we just hate the European Union."The European Union "gives people power without accountability.""You may loathe populism, but I'll tell you a funny thing, it's becoming very popular."Nigel Farage is a UKIP Member of Parliament for the South East of England. Elected in 1999, he has used his experience of the EU to increase awareness of its activiti...Read More
"In the last few days the progress of the virus, especially in some countries, especially human-to-human transmission, worries us," the WHO Director-General said on Wednesday.Continue...Read More
Katherine Anne Castor who is the Democrat from the 14th district in Florida who is an attorney who apparently became a politician because she has difficulty with understanding the Continue...Read More