Europe's anti-dumping duty on imports of wire rod originating from China will expire after October 16, 2020, unless a review is initiated, the European Commission (EC) said on Monday February 3.The EC had maintained a 24% anti-dumping duty that was applied to all imports of Chinese wire rod, except material from Valin Group, on which the rate was 7.9%, following the previous expiry review in Octob...Read More
Eastern China's rebar prices continued to weaken on Tuesday February 4 due to destocking pressure, though those in the northern region held steady on an inactive market.Eastern China (Shanghai): 3,360-3,400 yuan ($480-486) per tonne, down 40-50 yuan per tonneNorthern China (Beijing): 3,540-3,560 yuan per tonne, unchangedMost participants in Shanghai and Beijing were still away from the market due...Read More
Participants in the Mexican ferrous scrap market have started to see the first price cuts due to uncertainty in global scrap prices, which led some steelmakers to reverse their earlier increases in bid prices.Some steelmakers have lowered their offers for ferrous scrap due to the global downturn, putting Mexican prices, which were previously believed to be at a peak, under pressure.The downtrend w...Read More
Turkish deep-sea scrap import prices fell sharply on Tuesday February 4, on news of fresh cargoes from the Baltic Sea and the United States.A steel mill in the Iskenderun region booked a Baltic Sea cargo, sources said, comprising 25,000 tonnes of HMS 1&2 (80:20) at $251 per tonne and 5,000 tonnes of bonus at $261 per tonne cfr. The cargo is scheduled to be shipped in March.Meanwhile, another...Read More
As international exchanges continue to encourage trade in their ferrous contracts, Fastmarkets asks market experts for their views on progress in steel price risk management over the past year and the outlook for 2020.Speaking with Fastmarkets a year ago, Phillip Price, steel derivatives expert, and since then founder of Pool, said that he had seen a sea change in the steel sector's attitude towar...Read More
Eastern China's rebar prices continued to weaken on Tuesday February 4 due to destocking pressure, though those in the northern region held steady on an inactive market.Eastern China (Shanghai): 3,360-3,400 yuan ($480-486) per tonne, down 40-50 yuan per tonneNorthern China (Beijing): 3,540-3,560 yuan per tonne, unchangedMost participants in Shanghai and Beijing were still away from the market due...Read More
Import prices for steel slab in Southeast Asia and East Asia climbed over the past week amid China's continued absence from the steel markets which led to uncertainty about price trends. Multiple provinces and regions in China, including major cities such as Beijing, Tianjin and Guangdong, have delayed the resumption of business activities by another week amid the coronavirus outbreak in the count...Read More
Stewart Thomson 1. Are gold miners poised to begin a long period of outperformance against gold?2. I've argued that most gold stocks peaked against gold bullion in 2006. GDX $31 and GDXJ $46 are my "launchpad" numbers for a major new bull run, a run that could last for decades.3. Please click here now. Schroders fund manager James Luke believes the miners peaked in 2005.4...Read More
By: Gary Savage Gold stocks update, are we near our lows?Read More
Dear Friend of GATA and Gold:Another story was published today about the fabled gold supposedly looted by Japanese forces throughout Asia during World War II and hidden in the Philippines at the direction of Japanese Gen. Tomoyuki Yamashita as Japan began to be beaten by the United States and its allies.The story, written by Tom Metcalfe for LiveScience.com --https://www.livescience.com/treasure...Read More
By: Ira EpsteinEnergy prices have taken a beating, other markets too. Gold breaking $1,567.90 would break the trend and stall the market..Read More
I used to identify "corona" with my favorite beer. But now "corona is a dreaded word globally due to virus. Nations and central banks are intervening, talking and doing all sorts of things to alleviate concerns of the negative impact on economy. Financial markets are now manipulated in every nation. Trend from Monday (10th February) will be the key to gold and silver price. Key US economic data...Read More
Glencore's ferro-chrome production dropped by 9% in 2019 due to maintenance taken during periods of high costs and low prices, the trader-miner announced on Tuesday February 4.Glencore, which operates a chrome joint venture with South Africa's Merafe Resources, produced 1.44 million tonnes of ferro-chrome in 2019, down from 1.58 million tonnes in 2018."Attributable ferrochrome production of 1,438,...Read More
Bob Moriarty of 321gold provides three charts for readers. Hint: That's what massive tops look like. Don't tell anyone else, I want to keep it a secret between you and me.Bob Moriarty founded 321gold.com, with his late wife, Barbara Moriarty, more than 16 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature article...Read More
The transaction will consolidate the firm's land position in a historical mining district. Ely Gold Royalties Inc. (ELY:TSX.V; ELYGF:OTCQB) announced in a news release that through its subsidiary, Nevada Select Royalty, it agreed to acquire 75 patented mining claims from Cliff ZZ LLC. Closing is expected on May 2, 2020.These assets, known as the Tonopah Extension Claims, are located in Nevada's E...Read More
The Dow added 470 points, despite swirling coronavirus anxieties U.S. stocks marked another day of impressive gains. Most notably, Tesla's (TSLA) two-day record-breaking surge sent the Nasdaq to a record-breaking peak of its own, just above 9,485 points. A lead in tech also helped lift the index, as shares of Apple (AAPL) and a handful of chip stocks induced additional tailwinds. The Dow, meanwhil...Read More
Steel and aluminium market participants were disappointed with the outcome of their efforts to convince President Donald Trump's administration to extend the Section 232 tariffs to downstream product imports, which have surged into the United States in the past year."I try to maintain a positive outlook at all times, and it's clear we have convinced the Department of Commerce that 232 has created...Read More
Peloton is set to report its fiscal second-quarter earnings after markets close tomorrow Fitness concern Peloton Interactive Inc (NASDAQ:PTON) has been chugging quietly higher since coming under scrutiny for its holiday advertising tactics back in December, with solid support at the 60-day moving average emerging late that month. In fact, the equity is already up 21% year-to-date, with the stock l...Read More
SNAP has surged 171% over the past 12 monthsSnapchat parent Snap Inc (NYSE:SNAP) is 3.5% higher today, last seen at $18.86, as the options market gears up for the company's fourth-quarter report, which is scheduled for after the close today. Below we will take a look at how SNAP has been maneuvering the charts, and what the options market expects to see after the highly anticipated report. Th...Read More