Domestic prices for hot-rolled coil fell further in Northern Europe in the week to Friday June 19 due to low market demand.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?390.00 ($435.86) per tonne on Friday, down by ?,?6.25 per tonne week on week and down by ?,?19.84 per tonne month on month.The region's integrated mills have been offering HRC at ?,?400-410 p...Read More
News station KFOR in Oklahoma has reported that four Oklahoma dispensaries are being forced from their locations by convenience store chain 7-Eleven after the company bought buildings rented by the dispensary owners and have declined to renew their leases.Starla Norwood, a registered nurse that runs one of those dispensaries called Nurses Station dispensary, said that 7-11 essentially told her tha...Read More
The dollar bears and gold bugs are pouring a tall glass of "I told you so" right now.Because the U.S. dollar is in big trouble.The fact is, there have been big problems with the greenback for years. And the economic fallout from the COVID-19 pandemic might be the last straw.On Friday Boston Fed President Eric Rosengren said continued fiscal and monetary support will likely be needed to address the...Read More
The export market for flat steel products from the Commonwealth of Independent States was firm during the week ended Monday June 22 because of demand in Turkey and despite high prices for raw materials.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $405-415 per tonne on Monday, widening upward from $405-410 per tonne the week before.A sale of Russia...Read More
Here are five Fastmarkets stories you might have missed on Monday June 22 that are worth another look.The dramatic consequences of the Covid-19-related lockdowns across Europe, and the corresponding shutdowns of industrial activities, have resulted in an enormous disruption to the supply chains across all sectors of the steel industry.Chilean state-run copper producer Codelco has decided to halt a...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index made a nice hop higher, hurtling as high as 967.52 intraday, before closing with a gain of 1.6%, or 15.24 points, at 945.55.MACD fell over 5 points to -4.82. RSI edged up 2.69 to 57.31.Support is at 890 (50-day moving average) and 932.57 (middle Bollinger band). Resis...Read More
The dramatic consequences of the Covid-19-related lockdowns across Europe, and the corresponding shutdowns of industrial activities, have resulted in an enormous disruption to the supply chains across all sectors of the steel industry.While the largest of these sectors, the construction industry, has by no means escaped the effects of the pandemic, sources believed that it could see a return of de...Read More
Trading activity in the majority of CIS markets was thin over the past week due to low demand, but CIS exporters of rebar and wire rod preferred to keep offers stable following the example of Turkish producers. Turkish steel mills last week kept their rebar export offers at $425-430 per tonne fob on an actual weight basis, while bids for the material were no higher than $410 per tonne, Fastma...Read More
Turkish domestic scrap prices have remained fairly stable over the past week, with most market participants believing that prices have reached a peak, sources said on Monday June 22.The steel mills adjusted their buy prices for domestic scrap in line with their stock levels and finished long steel sales over the past week.Three steel producers increased their buy prices for auto bundle scrap by 20...Read More
Seaborne iron ore prices fell on Monday June 22 after an increase in cargo arrivals at Chinese ports last week, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $101.75 per tonne, down $0.67 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $104.19 per tonne, down $1.20 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $90.77 per tonne, down $...Read More
Trading activity had slowed down by the end of last week in the CIS export market for steel slab, with mills closing their sales for August shipment and now evaluating the situation, Fastmarkets heard on Monday June 22.A sale of Ukraine-origin slab was heard to Turkey in mid-June at $385 per tonne cfr, equivalent to $370-375 per tonne fob Black Sea.And a Russian supplier sold a large cargo of slab...Read More
Strengths? The best performing precious metal for the week was silver, up 0.83 percent as hedge funds boost their net long position to a 14-week high. Swiss exports of gold to the U.S. hit another high in May to 126.6 tons. ETFs added 27,739 troy ounces of gold to their holdings on Thursday, marking the sixth straight day of inflows. Bloomberg notes that total gold held by ETFs r...Read More
Although the rally on Wall Street flouts common sense and arguably even sanity, born-again bulls continue to rampage. What will put an end to their foolishness? Surely not more grim economic data, nor an increase in what is already the highest unemployment rate since the Great Depression, nor a wave of business failures that could eventually asphyxiate the consumer economy. None of these problem...Read More
By: Ira EpsteinGold weekly chart shows support at 18-DMA just below $1,700. The market is at an upside bias, right below record highs:Read More
Highly UncertainReallocation ShockDemand ShockA Most Troubling DilemmaHow You Can HelpPuerto Rico and Final ThoughtsPredictions are difficult, especially those about the future. That old proverb (often attributed to Yogi Berra) is right but you can't live without making certain presumptions. You presume your car will start, your refrigerator will stay cold, the lights will turn on when you flip...Read More
Richard Duncan is an author & economist who has worked as an equities analyst in Hong Kong, served as global head of investment strategy at ABN AMRO Asset Management in London, worked as a financial sector specialist for the World Bank in Washington D.C., and headed equity research departments for James Capel Securities and Salomon Brothers in Bangkok. He also worked as a consultant for the IMF in...Read More
Harley Schlanger's work can be found at LaRouchePAC.com.Read More
Link to slides and sources: https://www.itmtrading.com/blog/digit...Lynette Zang has held the position of Chief Market Analyst at ITM Trading since 2002. Ms. Zang has been in the markets on some level since 1964. Her mission is to convert financial noise into understandable language. She has been a banker, a stock broker and studied world currencies since 1987. She believes strongly that we need t...Read More
Patrick Bet-David is an American entrepreneur and financial advisor. He runs the popular YouTube channel Valuetainment.Lior Gantz has been called a thrill-seeking entrepreneur by his team, and as such, he built and runs numerous successful businesses, and has traveled to over 30 countries in the past decade in pursuit of thrills and opportunities, gaining valuable knowledge and experience. With We...Read More
It was touted as the trading platform set to level the playing field between the Wall Street one-percenters and the rest of the world. All thanks to its ease of access and nonexistent fees.Robinhood has quickly become the go-to trading platform for a generation of new investors, speculators and get rich quick fans.With over 30 Billion in (AUM) Assets Under Management, how do they make money?Marin...Read More