The Powell pledge to not raise rates until inflation starts to rise helped Canadian stocks with the mid-cap-oriented INK Canadian Insider Index advancing 2.0% over the week ending November 8th. In our broadcast of the week, I explain why we believe the latest Fed policy moves favour commodities over real estate. Meanwhile, our insider of the week has been keeping the faith in the Canadian oil pat...Read More
Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on Monday November 11. The sale will also include British Steel's shares in TSP Engineering and Redcar Bulk Terminal in the UK, along with FN Steel in the Netherlands and Briti...Read More
Turkish steel producers have booked more deep-sea cargoes for December delivery and prices have remained firm, sources told Fastmarkets on Monday November 11.Five deep-sea cargoes, totaling around 160,000 tonnes, were heard at the start of the week.A steel mill in northern Turkey booked a European cargo comprising 17,500 tonnes of HMS 1&2 (75:25) and 17,500 tonnes of bonus at an average price of $...Read More
Turkish domestic scrap prices have continued to climb over the past week under the influence of rising imported scrap values, sources said on Monday November 11.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,455-1,560 ($252-270) per tonne on Monday, up from the TRY1,400-1,555 per tonne of last week.The steel producers and a major scrap...Read More
Fastmarkets has corrected its daily index for steel billet exports, fob Black Sea, which was published incorrectly on Monday November 11 due to a reporter error.The daily steel billet index, export, fob Black Sea, CIS, was wrongly published as $380 per tonne on Monday. It should have been $373 per tonne.Fastmarkets' price book and database have been updated to reflect this correction.For more info...Read More
Prices in the CIS export slab market picked up in the week to Monday November 11, supported by increased demand in Turkey and China as well as a stronger finished flat steel sector both domestically and in some of customers' markets.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $340-360 per tonne on November 11, up by $5-15 per tonne.Early last week, several...Read More
Some rebar producers in Egypt increased their rebar prices with effect from Monday November 11, Fastmarkets has learnt.The country's biggest producer, Ezz Steel, is now offering rebar at E ?10,370 ($641) per tonne ex-works, up from the previous E ?9,900 per tonne ex-works, including 14% VAT.And the rebar price from Misr Steel is now E ?10,000...Read More
By: Avi GilburtWhile reading of the title of this article may cause you to make certain assumptions about what you are about to read, I can assure you that this is not a politically motivated article. In fact, politics has absolutely nothing to do with the analysis and conclusions presented herein.I want to start with the assumption that we have spoken about so often, and that it is social moo...Read More
Michael Maloney is a precious metals investment expert and historian. He is the founder and owner of GoldSilver.com, a global leader in gold and silver sales/storage and one of the world's most highly regarded investment education companies. He is author of the highest selling precious metals investment book of all time, Rich Dad's Advisors: Guide to Investing In Gold and Silver. In addition, Mr....Read More
O.G. Shadow is a former Mexican cartel affiliate who has openly admitted to being a drugs and arms trafficker. He served multiple years in a Mexican prison for his crimes. After receiving permission from top cartel management to peacefully leave his cartel (something that rarely happens), O.G. Shadow decided to live a peaceful life without crime. In his own words his goal is to "inform the public...Read More
From Serbia to Syria to Nikki Haley's explosive new book, the war party is still firmly in control in Washington. Wars and threats of wars keep increasing, ensuring a steady of wounded and broken veterans to "thank" for their "service."Dr. Ron Paul is a physician and former twelve-term congressman from Texas who ran for president in 2008. He is the author of eight books, including the New York Tim...Read More
Filmed at the New Orleans Investment Conference on Nov. 2, 2019.Rick Rule, founder and chairman of Sprott Global Resource Investments Ltd., began his career in the securities business in 1974. He is a leading American retail broker specializing in mining, energy, water utilities, forest products and agriculture. His company has built a national reputation on taking advantage of global opportunitie...Read More
Filmed at the New Orleans Investment Conference on Nov. 2, 2019.Danielle DiMartino Booth spent nine years as an advisor to Richard W. Fisher at the Federal Reserve Bank of Dallas. Danielle left the Fed in 2015 to found Money Strong, LLC, an economic consulting firm and launched a weekly economic newsletter She is the author of Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America...Read More
When the New York Federal Reserve began pumping billions of dollars a day into the repurchasing (repo) markets (the market banks use to make short-term loans to each other) in September, they said this would only be necessary for a few weeks. Yet, last Wednesday, almost two months after the Fed's initial intervention, the New York Federal Reserve pumped 62.5 billion dollars into the repo market.Th...Read More
Even the upper middle class loses share of household wealth to the 1%. The bottom half gets screwed.Wolf Richter is the founder of Wolf Street Corp and the publisher of WolfStreet.com. Wolf has over twenty years of C-level operations experience, including turnarounds and a VC-funded startup. He has a BA, MA, and MBA (UT at Austin). In his prior life, he worked in Texas and Oklahoma, including a de...Read More
"The reality for @ewarren is that this is as much to divert attention from her income and net worth as anything else. Other than steyer she is the wealthiest of all the Dem Candidates. By far."Continue...Read More
If Warren becomes president, our operation will leave the United States and I will have to seriously consider resigning my American citizenship. Continue...Read More
Technically Gold cracked last week and the downside momentum coupled with the relatively high net spec position argues thatContinue...Read More
Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on Monday November 11. The sale will also include British Steel's shares in TSP Engineering and Redcar Bulk Terminal in the UK, along with FN Steel in the Netherlands and Briti...Read More
China is looking to take on the world's top steelmaker, ArcelorMittal, with a share transfer between Shougang and Baowu Steel.Northern China's Shougang Group is transferring 15% of its share in the listed unit of the same name to Baowu Steel without any charge, according to a company notice last Friday November 8. This takes Baowu Steel - China's biggest mill and second globally only to ArcelorMit...Read More