Prices for steel plate in the United States were flat after producers continued to experience slow bookings in the new year.Attaining the full extent of announced price hikes has posed a challenge for mills after some buyers stocked up in the early stages of an upswing that started in December 2019. A post-New Year's bounce has been elusive so far, with distributors reporting that material has bee...Read More
Domestic prices for hot-rolled coil in Northern Europe have jumped, with support coming from good order books at mills, solid demand and a lack of competitive import offers, sources told Fastmarkets on Tuesday January 21.Fastmarkets' daily steel HRC index domestic, ex-works Northern Europe, rose by ?,?13.93 per tonne day on day to ?,?463.41 ($513.95) per tonne on Tuesday, from ?,?449.48 per tonne....Read More
Recent mill price hikes have continued to drive up high-carbon wire rod prices in the United States, while rising ferrous scrap costs have boosted cold-heading quality (CHQ) wire rod prices.Fastmarkets' assessment for steel wire rod (high carbon), fob mill US, rose to $35 per hundredweight on Friday December 20, up 2.9% from $34 per cwt one month earlier.Over the same pricing period, Fastmarkets'...Read More
Domestic and import prices for steel rebar and billet in the United Arab Emirates increased over the past week, with most buyers' orderbooks filled until late February, market sources said on Tuesday January 21.Steel rebar and billet prices increased in line with the price hike initiated by local UAE rebar producers, who announced higher prices in December 2019 because of strong demand a...Read More
Beginning in 2020, Fastmarkets will review its pricing methodologies and price specifications across all its Price Reporting Agency (PRA) divisions - Metals & Mining and Forest Products - on an annual basis rather than twice per year. The decision is in line with the International Organization of Securities Commissions (IOSCO) principles for PRAs, which sets out global standards for orderly and fa...Read More
The Minas Gerais state prosecutors' office, MPMG, has charged miner Vale, consulting company T?oeV S?oeD and 16 people - including former Vale chief executive Fabio Schvartsman - for homicide and environmental crimes, according to a document made public on Tuesday January 21.The charges are related to the disaster in Brumadinho on January 25, 2019, when the rupture of a tailings dam in Vale's C??r...Read More
Turkish steel producers have continued to hold back from the deep-sea scrap markets, expecting prices to go even lower, sources said on Tuesday January 21.Prices in the deep-sea scrap markets fell by around $15 per tonne late last week, after a steel mill in the Izmir region booked a US cargo of 35,000 tonnes of HMS 1&2 (95:5) at $295 per tonne cfr late on January 15.This would have put the HMS 1&...Read More
Jim Willie CB, editor of the "HAT TRICK LETTER" Subscribe: Hat Trick Letter Use the above link to subscribe to the paid research reports, which include coverage of critically important factors at work during the ongoing panicky attempt to sustain an unsustainable system burdened by numerous imbalances aggravated by global village forces. The historically unprecedented ongoing collapse has be...Read More
- Clive MaundAt first glance gold looks like it may be about to advance out of a bull Flag, but there are a number of factors in play that we will examine which suggest that any near-term advance won't get far before it turns and drops again, and that a longer period of consolidation and perhaps reaction is necessary before it makes significant further progress.On the 6-month chart we can see ho...Read More
1. Chinese New Year buying and more deaths in war-torn Yemen have ignited yet another solid rally in gold.2. Please click here now: https://gracelandupdates.com/wordpress/wp-content/uploads/2020/01/2020jan21gold1.png Double-click to enlarge. Gold is staging a breakout from an irregular bull flag pattern and doing so from strong support in the $1550-$1530 zone. 3. I'm projec...Read More
StrengthsThe best performing metal this week was palladium, up 17.92 percent on tight supplies and strong demand. One-week lease rates for palladium rose for a seventh day to 32.56 percent. The majority of gold traders and analysts were bullish on gold in the weekly Bloomberg survey, as attention turns to the next stage of the U.S.-China trade deal. Turkey's gold reserves rose $478 million from...Read More
Clint Siegner, Money MetalsNarayana Kocherlakota, the former President of the Federal Reserve bank of Minneapolis wants you to know the Federal Government can never borrow too much money.Our government already borrowed $23 trillion and deficits are expected to exceed $1 trillion per year. He knows many Americans feel anxious about the federal government going bankrupt, and he has a simple soluti...Read More
I've been a hardcore deflationist for so long that it took a wake-up call from the always astute Jesse Felder to jolt me out of my complacency. His latest report is headlined Dr. Copper Could Soon Deliver a Diagnosis of Inflation, and it's an eye-opener. The chart accompanying Felder's think-piece suggests that copper futures have been developing thrust for the last several years that could l...Read More
The IMF now sees growth at 3.3% this year, down from 3.4% and also cut the 2021 forecast to 3.4% from 3.6%. Yet it still lifted the outlook for China to 6%. Slower growth rates imply lower interest rates. Low interest rates along with high inflation will result in continued rise on gold investment demand for the rest of the year. If gold price rise sharply and silver lags, then retail investor...Read More
*This interview was recorded on 12/10/19Famed economist Dr. Nouriel Roubini sits down with Real Vision's Ash Bennington to discuss the outlook for markets and the global economy in 2020 - including his prescient insight on the risks of war with Iran and the potential for a worldwide energy shock caused by conflict in the Middle East. Roubini also explores global growth, US equities & fixed income,...Read More
For Part 1 of this interview, CLICK HEREMax continues his talk with Egon von Greyerz of GoldSwitzerland.com about value investors like Warren Buffett sitting on huge piles of cash while passive index funds gobble up the market. They also discuss the latest in the gold market.Max Keiser is an American broadcaster and film-maker. He hosts Keiser Report, a financial program broadcast on RT. He presen...Read More
Beginning in 2020, Fastmarkets will review its pricing methodologies and price specifications across all its Price Reporting Agency (PRA) divisions - Metals & Mining and Forest Products - on an annual basis rather than twice per year. The decision is in line with the International Organization of Securities Commissions (IOSCO) principles for PRAs, which sets out global standards for orderly and fa...Read More
Political changes from the U.S. presidential election in November could see gold prices soar, this according to Peter Schiff, CEO of Euro Pacific Capital."I think if Trump is not re-elected, if we get like, President Sanders, gold should go above $2,000 this year, and if it's not above $2,000 by election, it should be $2,000 election night once we get the results," Schiff told Kitco News on the si...Read More
Gregory Mannarino started his financial career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. He is an active trader of the capital markets and has published several books pertaining to finance, global economics, and equity trading; His most recent book is titled Ultimate Guide To Money and The Markets (free ebook). Gregory currently hosts a b...Read More
The news that investigative journalist Glenn Greenwald has been charged with cyber crimes in relation to his reporting on Brazilian government corruption raises serious concerns thatContinue...Read More