Traders will start taking positions for January. January will be the real test for gold and silver bulls. Signing of trade deal, Brexit, various US jobs numbers and Chinese demand and Chinese economic growth around the Chinese New Year. Bonds can also be a surprise winner if gold and silver sell off in January. I am bullish on global stock markets if the trade deal is signed in January. Trade de...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
The price of ferrous scrap imported into India increased this week due to the upswing in global ferrous scrap markets, sources told Fastmarkets.Fastmarkets' steel scrap, shredded, index, import, cfr Nhava Sheva was $307.54 per tonne on on Friday December 27, up from $296.05 per tonne a week earlier.Deals were heard for shredded scrap at $305-310 per tonne and offers at $315 per tonne. Negotiations...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
As I mentioned on Monday, 2019 was not a great year for oil and gas stocks.Commodity prices were driven lower by a supply glut partially stemming from the rapid resurgence in development of the American oil and gas industry.The price of crude oil averaged about 9% lower than last year, while natural gas prices fell by an average 18%.And if forecasts are correct, 2020 doesn't appear it will be a sp...Read More
MAS Gold Corp. (TXSV-MAS), https://www.masgoldcorp.com/ is a Canadian mineral exploration company, focused on exploration projects in Saskatchewan, along the La Ronge Greenstone Belt. We learned from Ron Netolitzky, President and CEO of MAS Gold that their goal is to develop over a 1,000, 000 ounces resource from their combined properties in the Belt. At the moment, the most advanced one is their...Read More
Turkish prices for hot-dipped galvanized coil (HDG) and color-coated coil or pre-painted galvanized iron (PPGI) decreased in the week to Friday December 27, a reflection of typically modest demand around the end of the year, sources told Fastmarkets.Domestic pricesDemand in Turkey's local market was moderate because buyers had placed their orders earlier in December. Most producers have filled the...Read More
Some Turkish hot-rolled coil producers increased their prices again during the week ended Friday December 27 but market activity was subdued because of the usual year-end slowdown.Raw material prices, especially those of scrap, have continued to increase recently. Fastmarkets' daily index of steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was $303.39 per tonne on December 24, rising f...Read More
The Fed's not-QE T-bill buying programming which started in mid-October screamed commodity inflation to us. As we have written in many of our research notes over the past two months, we predicted that in contrast to Bernanke's old-school bond buying QE, Powell's money-market focused not-QE would have more of a punch for commodity inflation.Our attention immediately zeroed in on neglected, if not...Read More
China's domestic hot-rolled coil market was largely stable on Friday December 27, though some mills have started to take export orders at lower prices amid thin trading.DomesticEastern China (Shanghai): 3,900-3,910 yuan ($557-559) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tangshan): 3,640 yuan per tonne, unchangedTrading activity was reported as stable during the day amid sus...Read More
Domestic steel billet prices in India increased by 1,600 rupees ($23) per tonne in the week ended Friday December 27 due to a sharp rise in finished steel product prices and increased buying of semi-finished goods by rolling mills.Fastmarkets assessed the price of steel billet domestic, exw India at 29,000-29,200 rupees per tonne on December 27 compared with 27,400-27,600 rupees per tonne a week e...Read More
Prices for steel billet and rebar in Egypt were stable in the week ended Friday December 27 in subdued year-end trading conditions when demand is typically weak, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?10,000-10,580 ($622-658) per tonne ex-works including 14% VAT, unchanged since...Read More
China's domestic rebar prices increased on Friday December 27 on a pick-up in demand ahead of the weekend. Eastern China (Shanghai): 3,640-3,670 yuan ($520-524) per tonne, up 10-30 yuan per tonneNorthern China (Beijing): 3,500-3,530 yuan per tonne, up 10-20 yuan per tonneBuyers encouraged by the gains in the futures market in the past couple of days raised their procurement rates. The...Read More
The uptrend in the Commonwealth of Independent States' export pig iron market continued during the last full week of 2019 on sales to key outlets at higher prices and expectations for further growth in early 2020, sources told Fastmarkets.Fastmarkets' weekly price assessment for high-manganese pig iron export, fob main port Black Sea, CIS was $315-322 per tonne on Friday December 27, up...Read More
The price of ferrous scrap imported into India increased this week due to the upswing in global ferrous scrap markets, sources told Fastmarkets.Fastmarkets' steel scrap, shredded, index, import, cfr Nhava Sheva was $307.54 per tonne on on Friday December 27, up from $296.05 per tonne a week earlier.Deals were heard for shredded scrap at $305-310 per tonne and offers at $315 per tonne. Negotiations...Read More
Seaborne iron ore prices rose on Friday December 27 because of trades heard at higher levels.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.51 per tonne, up $0.88 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $90.60 per tonne, up $0.88 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.65 per tonne, up $1.04 per tonne.58% Fe fines high-premium, cfr Qingdao: $77.73 per tonne, up...Read More
Daniel R. Amerman, CFA On August 27th, 2019, in an editorial published in Bloomberg, William Dudley, the former president of the Federal Reserve Bank Of New York, did what had previously been considered unthinkable. The foundation premise of the Federal Reserve is that it is supposed to be completely nonpartisan, insulated from all political considerations. However, Dudley wrote that Donald Tru...Read More
By: Avi Gilburt Originally published on Sat Dec 21 for members of ElliottWaveTrader.net: When the metals are in a bear market, metals enthusiasts are frustrated. And, even when the metals are in a bull market, metals enthusiast become frustrated. This is what I have been seeing of late, as the metals are consolidating for their next bullish run.But, if you trade metals, you know that t...Read More
Gary TanashianThey say that Festivus is the "anti-Christmas", but in this case we are going to call it the anti-Christmas Eve as the markets close out 2018's Christmas Eve massacre."Many Christmases ago I went to buy a doll for my son. I reached for the last one they had, but so did another man. As I rained blows upon him I realized there had to be another way!"This year markets are going anot...Read More
- Bob MoriartyMy Best Year-End Tax-Loss Harvesting AdviceWith only a few trading days remaining in 2019, a clear winner has emerged in the contest of gold mining ETFs. The U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU) was up 39.5 percent year-to-date as of November 30, beating five of its peers, including those that focus on explorers and junior miners, or that are backed by physi...Read More