After today's US November nonfarm payrolls, traders will take positions for next week's FOMC meet. NFP will give hint on next week's FOMC meet. Look into US economy and global economy in totality and not just from interest rate perspective. UK election and December 15 deadline for US-China trade deal will also be under close scrutiny by traders and investors alike. US president Trump and his imp...Read More
Global scrap prices in most major markets moved upward during the week ended Friday December 6, due to good demand and a shortage of material in some locations. Prices jump in Turkey on newest tradesUS market activity picks up at higher pricesIndian price move up on material shortagePrices continue to move up in VietnamTaiwan maintains strong demand and solid pricesTurkeyTurkish steel mills booked...Read More
Are ultra-low interest rates putting monetary "beer goggles" on financial markets? Danielle DiMartino Booth of Quill Intelligence sits down with Peter Boockvar, CIO of Bleakley Advisory Group, to discuss the systemic risks to the global financial system. They deconstruct the growing challenges facing central banks. Boockvar examines the explosion of collateralized-loan-obligations (CLOs), predicts...Read More
Eric Sprott discusses the latest developments in the gold and silver markets. He also addresses some of the recent merger and acquisition news in the mining sector.Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest independently owned securities firms. In 200...Read More
The price of austenitic alloy steel scrap fell this week after further losses in the nickel market, sources told Fastmarkets on Friday December 6. Fastmarkets' price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, ?720-780 ($946-1,025) per tonne on Friday, down ?,?20-30 per tonne week on...Read More
Mike "Mish" Shedlock is a registered investment advisor and representative for Sitka Pacific Capital Management. His articles about the the economy and investing online can be found at Mish Talk. Read More
Portfolio Manager, attorney, finance author, a regular guest on North American media. Danielle Park is the author of the best selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," as well as a popular daily financial blog: www.jugglingdynamite.com. Danielle worked as an attorney until 1997 when she was recruited to work for an intern...Read More
Former Minnesota governor and host of "the World According to Jesse," Gov. Jesse Ventura joins Rick Sanchez to react to the recently concluded NATO summit in London, UK and weigh in on the true purpose of NATO and the power of the war lobby in Washington. Jesse Ventura, is an American politician, actor, author, Navy Seal, and former professional wrestler who served as the 38th Governor of Minnesot...Read More
"You know, Saudi Arabia - we moved more troops there. And they're paying us billions of dollars. Okay? You never heard of that before. You've never heard of that in your whole life," Continue...Read More
The price of ferrous scrap imported into India moved up again this week ahead of a seasonal slowdown for the European holiday season, sources told Fastmarkets on Friday December 6.Fastmarkets' steel scrap, shredded, index, import, cfr Nhava Sheva was $286.46 per tonne on Friday, up from $282.56 per tonne one week previous.One deal was heard for shredded material into India at $291 per tonne this w...Read More
A few weeks ago we noted the bullish setup for 2020. Macro developments, one way or another will tend to favor Gold. There isn't a Continue...Read More
Slab export prices from Brazil increased this past week, but most negotiations were paused due to the threat of tariffs by the United States against imports of Brazilian steel.Fastmarkets' weekly price assessment for steel slab exports, fob Brazil, was $370-395 per tonne fob on Friday December 6, up from $360-380 per tonne fob on November 29.The upper end of the range reflected recent offers...Read More
The gold-silver company continues to advance the asset. Megastar Development Corp. (MDV:TSX.V) announced in a news release that its preliminary exploration work revealed characteristics of an "significant epithermal system" at its Magdalena project in central Oaxaca, Mexico. Magdalena sits in the middle of the Oaxaca gold-silver polymetallic epithermal belt in the Sierra Madre del Sur. The compan...Read More
Regional geology, mineral showings, historical drill results and magnetic survey results are among the information obtained. Black Tusk Resources Inc. (TUSK:CSE; BTKRF:OTCMKTS; 0NB:FSE) completed compiling preliminary data on the McKenzie East project north of Val d'Or, Quebec, it announced in a news release. The company retrieved the information from various public sources like Mineral Titles-GE...Read More
CIS export billet gained $10 per tonne in the week to Friday December 6, with customers accepting deals at higher prices in response to rising scrap costs.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS was $400 per tonne fob Black Sea on Friday, against $390 per tonne fob on the same day last week.Sales of CIS-origin billet were done to North Africa...Read More
Incubating and monetizing assets are among the company's strategic objectives. Nexus Gold Corp. (NXS:TSX.V; NXXGF:OTCQB) announced in a news release it entered an agreement to grant Kruger Gold the right to acquire a 75% stake in the Rakounga gold project in Burkina Faso. An exploration permit has been obtained for Rakounga, which spans 250 square kilometers, and Nexus has done some exploration w...Read More
China's domestic rebar prices continued dropping on Friday December 6 as mills maintained high levels of production over the week. Eastern China (Shanghai): 3,870-3,900 yuan ($549-554) per tonne, down 70 yuan per tonneNorthern China (Beijing): 3,630-3,670 yuan per tonne, down 40 yuan per tonneRebar output at major Chinese mills totaled 3.63 million tonnes over the week ended Thursday, up 70,0...Read More
The price of grade-304 stainless steel flat products in Europe fell significantly over the past week on substantially lower monthly alloy surcharges for December, sources told Fastmarkets on Friday December 6.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm, grade-304, transaction domestic, delivered North Europe, was ?,?2,130-2,150 ($2,363-2,385) per tonne on Friday...Read More
The Dow ended the week on a high note, following a strong nonfarm payrolls reportThe Dow snagged a 337-point win today, following a strong U.S. jobs report. Data showed 266,000 jobs were added in November, exceeding economists' expectations. Several stocks boosted the blue-chip index, too, including Goldman Sachs (GS), which rallied 3.4% on a strong day for financials. More broadly, a booming ener...Read More
CHWY just ran into its 40-day moving average, which has spelled trouble for the stock in the past The shares of online pet supply retailer Chewy Inc (NYSE:CHWY) have been making several attempts to distance themselves from their late-November bottom near the $21 level. Just yesterday, the stock picked up a 6.3% gain on a mixed analyst note from Morgan Stanley, and continues to climb higher today -...Read More