Dave KranzlerThe mortgage regulators are stretching the removal of mortgage qualifications to the limit in an effort to keep the housing party going. The Consumer Financial Protection Bureau (CPFB) is recommending the removal of the DTI as a factor in qualified mortgage underwriting. Ironically, tighter mortgage finance regulations were the purpose for the formation of the CPFB in the first pl...Read More
Rob KirbyA very short preamble to what follows is this: Frank Veneroso did foundational work that led to the creation of GATA [Gold Anti-Trust Action]. Frank Veneroso's utterances in this regard originated from information fed to him back in the 1990's about gold lending and swapping via Central Banks and Bullion Banks by Bank of England gold head - Terry Smeeton. Bill Murphy had intimate...Read More
By: Ira EpsteinGold in a saucer-pattern. Swing-lines, bias is up as price remains above the 18-dma. Read More
Gold and silver fell yesterday (from the day's high) after USA opened as traders booked profit on long positions. Traders have started ignoring the corona virus and started focusing on other economic issues and political issues. FOMC meet tomorrow can have surprises in light of Chinese corona virus. Corona virus can have a very big impact on Chinese consumer spending in February. Industrial meta...Read More
David Becker5 hours ago (Jan 28, 2020 07:33 PM GMT)Gold prices moved lower on Tuesday reversing the prior days’ rise. There was a reversal of a breakout of a cup and saucer pattern, as prices made a lower high and a lower low. Risker assets rebounded which reversed some of the demand for safe-haven assets. The circulation of the coronavirus that has spread throughout Wuhan China, continues...Read More
A lack of information on the extended Section 232 tariffs that were announced by US President Donald Trump on Friday January 24 has made it difficult to predict the impact on the downstream steel and aluminium markets.The steel and aluminium tariffs will be set at 25% and 10% respectively and will take effect on February 8, according to the presidential proclamation.A list of targeted goods h...Read More
Aluminium premiums in Europe continued to buck the general trend in the week ended Tuesday January 28, rising further while premiums in Asia and the United States were static.Rotterdam duty-unpaid premium climbs to highest since August US Midwest premium holds at 23-month low Domestic Brazil premium edges higher Asia premiums static due to lunar new year holiday. Tight availability fuels European...Read More
A summary of base metals premiums from across the globe for the week to Tuesday January 28.Click on...Read More
Mexican steel scrap prices changed little in the week ended Friday January 24, with market participants waiting to see a clearer definition of the international price trend.Until the previous week, Mexican prices had shown consecutive price rises, but this was interrupted by a shift in the global trend for the raw material.Fastmarkets' weekly assessment of the steel scrap No1 heavy melt consumer b...Read More
Flat steel export prices from the Commonwealth of Independent States (CIS) were stable in the week ending Monday January 27, although the direction prices might take remains unclear because of the opposing moods of suppliers and buyers.Fastmarkets' weekly price assessment for steel hot-rolled coil (HRC), export, fob Black Sea was $475-490 per tonne on Monday January 27, unchanged we...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday January 28 that are worth another look.A strong rise in Chinese steel production led the way to a 3.4% year-on-year increase in global crude steel output in 2019, according to the World Steel Association.Aluminium premiums in Europe continued to buck the general trend in the week ended January 28, rising further while premiums i...Read More
Additionally, either the miners are cheap, or gold is rich. Michael explains...by Michael Ballanger via Streetwise ReportsThere is a local casino just "up the road" from where we reside that we visit (once in a blue moon), small sums of pocketed cash in hand, to play a few favored slot machines to see if we can defy the house odds and come home winners. Called The Great Blue Heron Casino, we have...Read More
Aluminium premiums in Europe continued to buck the general trend in the week ended Tuesday January 28, rising further while premiums in Asia and the United States were static.Rotterdam duty-unpaid premium climbs to highest since August US Midwest premium holds at 23-month low Domestic Brazil premium edges higher Asia premiums static due to lunar new year holiday. Tight availability fuels European...Read More
The London Metal Exchange three-month nickel price hit a seven-month low at $12,550 per tonne on Tuesday January 28, precipitated by risk-off selling while the uncertainty in Asian markets mounts due to China's growing coronavirus epidemic. "All eyes have been on the underlying nickel price with the market hitting a seven-month low on the coronavirus outbreak. Funds have shifted into risk-off mode...Read More
Trading activity in the seaborne iron ore market was muted on Tuesday January 28 with markets in China closed for a week-long public holiday for the Chinese New Year, which has been extended until Sunday in light of the coronavirus outbreak in the country. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.71 per tonne, unchanged 62% Fe Pilbara Blend fines, cfr Qingdao: $92.75 per tonne, u...Read More
The London Metal Exchange three-month nickel price hit a seven-month low at $12,550 per tonne on Tuesday January 28, precipitated by risk-off selling while the uncertainty in Asian markets mounts due to China's growing coronavirus epidemic. "All eyes have been on the underlying nickel price with the market hitting a seven-month low on the coronavirus outbreak. Funds have shifted into risk-off mode...Read More
Chilean copper content in mine production is estimated to reach 7.04 million tonnes in 2030, rising by 19.7% from 5.88 million tonnes expected in 2019, the country's copper commission Cochilco announced.Cochilco used the current project pipeline in the country as a basis for calculating production trends, it said on Monday January 27. In a bullish scenario, output could hit 8.08 million tonne...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday January 28 that are worth another look.A strong rise in Chinese steel production led the way to a 3.4% year-on-year increase in global crude steel output in 2019, according to the World Steel Association.Aluminium premiums in Europe continued to buck the general trend in the week ended January 28, rising further while premiums i...Read More
The London Metal Exchange three-month nickel price was slightly higher during morning trading on Tuesday January 28, with dip-buying momentum prompting a marginal uptick, while copper futures failed to gather momentum.Nickel's outright price on the LME was recently at $12,710 per tonne - above Monday's closing price of $12,610 per tonne - with some 1,200 lots exchanged as of 9:20am London time.&nb...Read More
Glencore have appointed Mike Westerman to the position of acting head of copper assets following the departure of Mike Ciricillo.Westerman accepts the role after having been chief operating officer of Glencore's Australian copper assets for several...Read More