Hebei Steel, China's second largest steel mill, released its purchase price for silico-manganese at 6,600 yuan ($944) per tonne for January delivery, up by 650 yuan per tonne from its December tender price, market participants told Fastmarkets. The price from Hebei Steel, which is for cargoes delivered to warehouse in mills, includes the value-added tax and is paid on acceptance, according to mark...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comDec 31, 2019I predicted gold would bottom in mid-November and it did.Pleaseclick here now. Double-click to enlarge this fabulous daily gold chart. A lot of amateur gold investors have missed this rally.That’s partly because they thought the “smart money” was shorting a lo...Read More
Vancouver, BC - good natured Products Inc. (TSX-V:GDNP) (the "Company" or "good naturedTM") and Integral Wealth Securities Ltd. (the "Agent") today announced the successful completion of the closing of a first tranche (the "First Tranche") of its brokered private placement offering (the "Offering") of convertible debenture units (the "Units") announced on October 10, 2019 for aggregate gross proc...Read More
Tender price cuts from major Chinese stainless steel mills last week, though broadly expected in the market, have caused the domestic spot ferro-chrome price in the country to fall to a 44-month low.Fastmarkets assessed the price of ferro-chrome spot 6-8% C, basis 50% Cr, ddp China at 5,600-5,800 yuan ($801-830) per tonne on Friday December 27, down by 200-300 yuan per tonne - or 4.2% - from 5,800...Read More
- Dave KranzlerI'm growing more confident that we're on the cusp of a big move higher in the precious metals sector because of the Fed's massive money printing. Also, because the money printing and near zero interest rates are visibly not stimulating economic growth, we're at the point at which unless the Fed continues increasing the amount of money it puts into the system, the melt-up in the...Read More
By: Ira EpsteinGold is bullish -- but the bullish crossover hasn't occurred yet, but I would not be surprised this occurs in early January. Longer-term traders are going to look at the gold chart favorably..https://www.iraepstein.com/Read More
Trend for gold and silver is very bullish. It is just a technical trade. I do not think that events in Middle east has any bearing to current firmness in gold and silver price rise. There is short covering at the moment. Gold price in almost every nation is at a historical high. I do not think 2019 returns in gold and in Asian currencies will be repeated over the next few years. 2020 gold return...Read More
GOLD COT REPORTS WERE DELAYED DUE TO THE HOLIDAYS: Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 364,31058,658122,022203,204543,600689,536724,280 Change from Prior Reporting Period 19,8174407,85777222,54928,44630,846 Traders 22660805653308173 Small Speculators LongShortOpen Interest 59,20124,457748,737 3,304...Read More
The Turkish deep-sea scrap import market continued to stay quiet ahead of the New Year celebrations, sources said on Tuesday December 31.Steel producers in Turkey paused their deep-sea bookings on December 20, after a Baltic Sea cargo was booked at $303 per tonne cfr.No further...Read More
The domestic price for hot-rolled coil in Northern Europe was unchanged on Tuesday December 31 due to limited trading activity, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index domestic, exw Northern Europe was calculated on Tuesday at ?,?439.39 ($492.06) per tonne, where it has been since December 20.Market activity has been close...Read More
Flat steel import offer prices in the United Arab Emirates and Saudi Arabia increased this week, despite demand being weak in the run up to the end of the year, sources told Fastmarkets on Tuesday December 31.No new bookings have been heard so far this week because buyers have decided to postpone bookings until early 2020, sources said.UAEOffer prices for hot-rolled coil f...Read More
Nasdaq had a great year. By my calculations, it was up 47%.The Nasdaq is a weighted index with the top five companies, Apple, Microsoft, Amazon, Alphabet, and Facebook, making up 36% of the index's value.Of those, Apple was the big winner, climbing 86%. But overall, Advanced Micro Devices (NASDAQ: AMD) jumped 153% and is up 1,660% over the past five years.AMD makes microchips, of course, and that...Read More
China's domestic hot-rolled coil prices remained firm on Tuesday December 31 despite thin trading, while exporters enjoyed active trading amid a rise in prices globally.DomesticEastern China (Shanghai): 3,900-3,920 yuan ($559-562) per tonne, widening upward by 10 yuan per tonneNorthern China (Tangshan): 3,640 yuan per tonne, narrowing upward by 10 yuan per tonneA Shanghai-based trader sa...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday December 31 that are worth another look.Hebei Steel, China's second largest steel mill, released its purchase price for silico-manganese at 6,600 yuan ($944) per tonne for January delivery, up by 650 yuan per tonne from its December tender price, market participants told Fastmarkets.Flat steel import offer prices in the United A...Read More
Domestic and import prices for steel rebar and billet in the United Arab Emirates increased over the past week, while demand was moderate, market sources said on Tuesday December 31.Market participants in the UAE believed increases may continue if raw material prices keep increasing.Local rebar producers announced new prices on December 19.Billet importsBillet was offered at $460-470 per tonne cfr...Read More
China's rebar prices rose in the east on Tuesday December 31, bolstered by restocking activity by stockists in expectation of price increases in January.DomesticEastern China (Shanghai): 3,700-3,750 yuan ($531-538) per tonne, up 20-30 yuan per tonneNorthern China (Beijing): 3,550-3,570 yuan per tonne, unchangedSellers in eastern China started with offer prices at 3,700-3,730 yuan per ton...Read More
The Turkish deep-sea scrap import market continued to stay quiet ahead of the New Year celebrations, sources said on Tuesday December 31.Steel producers in Turkey paused their deep-sea bookings on December 20, after a Baltic Sea cargo was booked at $303 per tonne cfr.No further...Read More
Seaborne iron ore prices rose on Tuesday December 31 amid advances in derivatives markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $92.13 per tonne, up $1.05 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $91.22 per tonne, up $1.05 per tonne.62% Fe low-alumina fines, cfr Qingdao: $92.54 per tonne, up $1.20 per tonne.58% Fe fines high-premium, cfr Qingdao: $79....Read More
- Dave KranzlerI'm growing more confident that we're on the cusp of a big move higher in the precious metals sector because of the Fed's massive money printing. Also, because the money printing and near zero interest rates are visibly not stimulating economic growth, we're at the point at which unless the Fed continues increasing the amount of money it puts into the system, the melt-up in the...Read More
By: Avi Gilburt As a student of market history, I always find it interesting, and even sometimes quite comical, how certain fallacies about markets are continually propagated by investors and analysts alike. Throughout my career in writing about metals, I have tried to bring many of these to light, and explain why so many of the fallacies should be ignored.The latest in the string of fallacies...Read More