Here are five Fastmarkets stories you might have missed on Tuesday February 25 that are worth another look.European steel producers, represented by regional steel association Eurofer, hope to achieve a further toughening of the region's existing safeguard measures on steel product imports, market sources told Fastmarkets on February 25.The US Midwest aluminium premium reversed a more than nine-mon...Read More

Domestic prices for hot-rolled coil in Northern and Southern Europe were fairly stable day on day on Tuesday February 25, sources told Fastmakets.Although a lack of 'workable' import offers and good order books from European mills have been supporting bullish sentiment in the market, market participants have become more concerned with the negative effects that the coronavirus outbreak in Italy mig...Read More

Every major media and financial outlet blamed today's market sell-off on spreading coronavirus fears. Too bad it's bullshit.Let's take a look at some of today's headlines:"Dow Industrials Close 1000 Points Lower as Coronavirus Cases Mount" - Wall Street Journal"U.S. Stocks Plunge as Coronavirus Crisis Spreads" - The New York Times"Coronavirus Is Cratering the Stock Market. Why It Can Still Get Wor...Read More

Flat steel import prices in the United Arab Emirates and Saudi Arabia fell this week, with buyers waiting to see prices hit bottom before placing orders, sources told Fastmarkets on Tuesday February 25.Some market participants expected prices to fall because of weak demand, while others said demand could soon improve because stocks are low.UAEChinese hot-rolled coil was on...Read More

Rebar producers from the Commonwealth of Independent States (CIS) region tested higher offers in the market in the week to Monday February 24, following the surge in raw materials prices in the global market, particularly ferrous scrap, market sources said.Offers for Ukraine-origin rebar were reported within the range of $445-450 per tonne fob Black Sea, against $440 per tonne heard a week earlier...Read More

Here is what's new today on INK Ultra Money. Canadian Insider Club Ultra members have access to both premium and free content. If you are asked to sign in, select Canadian Insider as your subscription website.1. Ringing the bell at BCE - INK ResearchThe clouds are rolling in over BCE (BCE) stock. INK Research explains why.Politicians have BCE revenue in their sightsIf you are not a Canadian Insid...Read More

Rebar prices in the Central Federal District around Moscow, Russia, increased this week after Tula Steel announced a reduction in supplies due to a planned stoppage its main pig iron supplier, Tulachermet. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, including 20% VAT, was 33,000 rubles ($506.42) per tonne on Tuesday February 25, u...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 Canadian Insider Index built impressively upon the prior week's rally with an 11.16 point climb, slicing through 1215 and 1220 resistance as it notches brand new 2020 highs. The Index closed the week up 0.9% and has risen 2.55% in the last 2 weeks alone.MACD edged up 0....Read More

Prices for steel rebar and billet in the United Arab Emirates have gone down over the past week, but buyers expected them to fall even further because of weak demand, market sources said on Tuesday February 25.Local rebar producers announced new monthly domestic prices on February 25.Emirates Steel is now offering rebar at 1,897 dirhams ($516) per tonne ex-works, down from the previous 1,951 dirha...Read More

Turkish steel producers maintained their silence in the deep-sea scrap import market, leaving prices unchanged, sources told Fastmarkets on Tuesday February 25.Steel producers in the country booked eight deep-sea cargoes at rising prices last week, totaling some 250,000 tonnes.With last week's bookings, Turkish imports of scrap so far this month have included 21 deep-sea cargoes adding up to&...Read More

Seaborne iron ore prices were down on Tuesday February 25 amid heightened concerns about the novel coronavirus (2019-nCov) outbreak outside China and the resulting risk averse attitude of traders. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $90.83 per tonne, down $1.05 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $91.84 per tonne, down $0.98 per tonne. 58% Fe fines high-premium, c...Read More

A Pakistani mill that recently made a rare purchase of a bulk cargo of ferrous scrap from the United States West Coast will now likely buy such shipments with greater frequency, according to sources Fastmarkets spoke to.The trade - involving 30,000 tonnes of shredded scrap priced at $306 per tonne cfr Port Qasim - only came to light on Monday February 24, against the background of global economic...Read More

The CIS steel billet export market strengthened this week after higher-priced bookings came to light on Tuesday February 25.A large cargo of Ukrainian material was sold to Latin America at $402 per tonne fob Black Sea, sources said.And the same producer sold 10,000 tonnes of billet to Ethiopia at $401 per tonne fob Black Sea, they added.Fastmarkets' daily steel billet index, export, fob...Read More

Stewart Thomson, Graceland Updates 1. The US stock market is in "sleigh ride" mode against gold stocks.2. Please click here now. Double-click to enlarge this chart. Yesterday was another day of disappointment, fear, and outright terror... for most investors who are locked in the Dow versus GDX sled.3. The disintegration of the US stock market against GDX began...Read More

Dave Kranzler, Mining Stock JournalTwo economic reports were released which demonstrate that the money printing is not helping the economy. In the fourth quarter of 2019, U.S. household debt pushed over $14 trillion, reaching an all-time record high. This was fueled by a surge in mortgage and credit card debt. Much of the the new mortgage debt consisted of cash out" refis, which helped exacerbat...Read More

Gary TanashianI went out in the afternoon with gold screaming upward on COVID-19 hysteria. I see something like that and I mentally prepare for the "volatility violence" we talked about in last weekend's edition of NFTRH (#591).Maybe some of you old hats like me remember the last bull market, from 2001 to 2008. Yes, of course you do. Massive "attacks" on gold were routine, and they seemed...Read More

By: Ira EpsteinGold market's 18-DMA is under $1,600. 5 days in a row OVER the Bollinger band. Tomorrow it is likely try to get under the band, under $1,650..Read More

Dear Friend of GATA and Gold:Somebody seems to have dumped a lot of gold derivatives on the market this afternoon, and Zero Hedge estimates it at $3 billion worth and attributes it to the Bank for International Settlements:https://www.zerohedge.com/commodities/gold-suddenly-hammered-multi-billi...There may not yet be any public evidence tying this particular attack to the BIS, but whoever did it...Read More

Silver has not risen at all. Just trade in the technical in silver. Corrections in gold are healthy. There are lots of US economic data next week. US various February jobs report will be there next week. Correction or profit booking in gold and silver will be there. Corrections will be healthy to ensure that the current rally in gold is a sustainable one. A continued one way rise will imply a bo...Read More

Prices for steel rebar and billet in the United Arab Emirates have gone down over the past week, but buyers expected them to fall even further because of weak demand, market sources said on Tuesday February 25.Local rebar producers announced new monthly domestic prices on February 25.Emirates Steel is now offering rebar at 1,897 dirhams ($516) per tonne ex-works, down from the previous 1,951 dirha...Read More