European producers of heavy steel plate have been targeting domestic price rises this week, sources told Fastmarkets on Wednesday December 11.The price recovery was due to combination of higher slab costs for re-rollers, some recovery of demand due to re-stocking activity and a positive mood in the EU coil market, sources said.Fastmarkets' weekly price assessment for steel, domestic, pla...Read More
Domestic prices for cold-rolled coil in Europe increased across the board over the past week, sources told Fastmarkets on Wednesday December 11.The rise of CRC was driven by combination of demand improvement owing to restocking activity, production cuts across Europe and higher hot-rolled coil prices, the material used as feedstock for CRC production.On December 11, Fastmarkets' steel...Read More
Stewart Thomson, Graceland Updates 1. Can gold take out the 2019 highs and carry the miners on a mighty bull run that will stun all the naysayers? 2. Well, please click here now. Goldman analysts think it will happen!3. Some gold bugs view the big banks as "banksters". I like to differentiate between the bank algo traders that operate on the COMEX and the fundamental ana...Read More
COLORADO SPRINGS, Dec. 11, 2019-- Gold Resource Corporation (NYSE American: GORO) (the "Company") today announced the expansion of its Mirador Mine with fifteen (15) exploration drill hole results from its 2019 Alta Gracia projects drill program located at its Oaxaca Mining Unit, Mexico. Highlights include 3.72 meters grading 1.44 grams per tonne (g/t) gold and 990 g/t silver, including 1.00 m...Read More
By: Daniel R. Amerman, CFAAs can be seen in the graph above, for the last 12 weeks there has been a stunning visual correlation between the yellow bars of the total weekly funding of deficits by the Federal Reserve, and the green bars of the weekly deficit spending by the United States government.Total deficit spending, the extent to which monies spent by the federal government exceeded taxes co...Read More
The price of mesh-quality steel wire rod in the European domestic market was unchanged this week due to a lack of activity, sources told Fastmarkets on Wednesday December 11. Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?440-460 ($487-510) per tonne on December 11, unchanged week on week.Fastmarkets' assessment for...Read More
Stefan Gleason, Money MetalsGold-linked exchange-traded products are growing in popularity with investors. Assets held by gold ETFs have grown 38% globally in 2019.In October, according to the World Gold Council, gold ETFs attracted $1.9 billion in net inflows to reach a new record high total gold holding of 2,900 tonnes - at least on paper.There is good reason to be skeptical of whether all the...Read More
- Craig Hemke, TF MetalsThough we're still three weeks away from flipping the calendar, let's begin to look forward to 2020 and attempt to decipher whether or not the precious metals can build upon their 2019 gains.For precious metals enthusiasts, this time of year is always difficult. Often, holdings in mining shares get beaten backward due to tax loss selling. Mainstream "analysts" and inves...Read More
By: Ira EpsteinImpeachment in the news. US/Chinese trade deal still unknown. Gold weekly chart has gone flat. Gold needs to hold above $1,450 area..Read More
Everything will depend on trade deal and impeachment news of Trump. UK election result will have only a temporary effect. Traders will start taking positions for early January from next week. Forget your bullish or bearish biases for any investment and be ready to make some good profit. The next four days for the investment world will be similar to playing a T20 cricket match. I was a bit disapp...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday December 11 that are worth another look.Japan's Kanto Tetsugen has secured a higher price at its ferrous scrap auction for December, which is likely to boost sentiment in the Asian market for the steelmaking raw material.The emergence of a contango in London Metal Exchange aluminium spreads for early next year helped...Read More
James Hyerczyk12 hours ago (Dec 11, 2019 12:43 PM GMT)Gold is edging higher in a lackluster trade on Wednesday. The price action is being compressed by uncertainty ahead of the U.S. Federal Reserve’s monetary policy statement and interest rate decisions and the looming tariff deadline on December 15.Treasury yields are inching lower, which is providing some support for gold. But a slight ri...Read More
Nickel gained more than 3% on the London Metal Exchange on Wednesday December 11, closing at a two-week high.The three-month nickel price ended official trading at $13,850 per tonne, up by more than $400 per tonne from Tuesday's closing price of $13,405 per tonne. Volumes were higher - turnover exceeded 10,000 lots for the first time since October. The metal has shrugged off inflows of more than 2...Read More
The sharp fall in London Metal Exchange three-month lead price has put upward pressure on the US lead premium. Stock liquidation and weak buying saw the Italian delivered zinc premium decline, while the Shanghai zinc market held firm. US zinc premium flat amid "deathly quiet" in spot demand ILZSG data shows an overall deficit of 83,000 tonnes for lead in the first nine months of 2019 Weak buying a...Read More
Seaborne coking coal continued to trade in a narrow range on Wednesday December 11, with Chinese buying activity driving the market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $135.99 per tonne, down $0.26 per tonnePremium hard coking coal, cfr Jingtang: $148.56 per tonne, down $1.78 per tonneHard coking coal, fob DBCT: $122.33 per tonne, unchangedHard coking...Read More
Try around 5% Inflation here in the US...by Matt From Silver Fortune via Silver Fortune2.2%? 1.6%? Try around 5% Inflation here in the US...Read More
December Silver's Delivery Demand numbers still do not jive with anything logical...by J. Johnson of Fort WealthGreat and Wonderful Wednesday Morning Folks, We start the day with a green price for Gold (3 days in a row) with the trade at $1,472.00 up 4 bucks and right there at the high of $1,472.30 with the low at $1,466.90. Silver was giving "the signal" but now has turned to green with...Read More
If, however, two very specific "lines in the sand" don't hold, then it's bombs away to $15...by Michael Ballanger via Streetwise ReportsIn this week's commentary, I am going to respond to the rash of end-of-the-world emails and terror-stricken texts that bombarded me after the BLS reported a better-than-expected Non-Farm Payrolls number Friday that sent stocks screaming higher and the precious met...Read More
Turkey is calling for a level playing field when it comes to trading with the European Union and the United States, Turkish steelmakers said during a panel discussion at Fastmarkets' Middle East Iron and Steel conference in Dubai.Speaking on Tuesday December 10 in a panel discussion about the protectionism Turkish steel faces in its major steel export markets, panelists said they were on...Read More
The price of steel rebar in the Northern European domestic market was unchanged this week, but increases could soon take place because of rising scrap costs, sources told Fastmarkets on Wednesday December 11. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?475-485 ($526-537) per tonne on Wednesday, unchanged from a week...Read More