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

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

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

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

The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transaction: rebarRebarEast China, domestic, grade III 16-25mm...Read More

The three-month zinc price on the London Metal Exchange was lower at the close of trading on Tuesday February 25, with the price edging down by 0.3% in a broadly positive trading afternoon, while lead futures topped the base-metals complex.Zinc's outright price on the LME closed at $2,030 per tonne in the afternoon, failing to close in positive territory despite strong turnover throughout the day....Read More

Seaborne coking coal prices were largely unchanged on Tuesday February 25 due to a lack of trading activity in the market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $159.20 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $167.13 per tonne, unchangedHard coking coal, fob DBCT: $142 per tonne, up by $0.37 per tonne ...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

Harvey says there's huge amounts of silver standing for delivery. Here's an update...by Harvey Organ of Harvey Organ BlogFEB24//DOW PLUMMETS 1029 POINTS//NADAQ DOWN 355 POINTS ON HUGE NEW CORONAVIRUS CASES IN ITALY, SOUTH KOREA, IRAN//GOLD RESPONDS UP $28.40 TO $1674.50 AND SILVER UP 35 CENTS TO $18.91//IN THE ACCESS MARKET, THE BIS ORCHESTRATED ANOTHER RAID ON THE PRECIOUS METALS//BIG STORIES ON...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

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

The US Midwest aluminium premium reversed a more than nine-month downtrend on Tuesday February 25 with some deals concluded at slightly higher premiums, but spot opportunities remain limited and trade disruptions have amplified uncertainty.Fastmarkets' aluminium P1020A premium, ddp Midwest US was assessed at 13.75-15 cents per lb on February 25, narrowing upward from the previous range of 13....Read More

A summary of base metals premiums from across the globe for the week to Tuesday February 25.Click on...Read More

The three-month nickel price on the London Metal Exchange outperformed its peers across morning trading on Tuesday February 25, with all base metals trading in positive territory, while complex-wide selling pressure that emerged on Monday afternoon continued to ease.Nickel's outright price on the LME was recently seen at $12,640 per tonne on Tuesday morning, up from Monday's closing price on $12,4...Read More

Consolidation across a broad section of markets is underway this morning, Tuesday February 25, while Monday's sell-offs pause as markets adjust to lower prices, but little has changed for the better.Given the novel coronavirus (2019-nCoV) is starting to spread across more countries and indeed major manufacturing countries at that, including Japan, South Korea and Italy, and the full impact of the...Read More