Bulk alloys markets in Europe and India look set to trade under persistent pressure from a lack of demand in the near term, with weekly price falls raising the prospect of production cuts, according to industry sources.In Europe, the ferro-silicon market fell to a near three-and-a-half-year low in the week to July 10 after briefly stabilizing the previous week. Sustained weakness in steel, pa...Read More
New flat steel import duties are expected to affect flat steel imports into the United Arab Emirates (UAE), market sources told Fastmarkets on Tuesday July 14.By July 19, the UAE will apply a duty of 500 dirhams ($137) per tonne on imports of color-coated coil - in effect until May 14, 2021.The main supplier of color-coated coil to the UAE is China, Fastmarkets...Read More
Stewart Thomson, Graceland Updates1. The big question about America is how much more money the Fed can print while the government runs a program of borrowing money to infinity... before hyperinflation turns the fading empire into a fire pit.2. The debt-themed empire is in tatters already, but it has yet to become an inferno. The world watches aghast, as Americans blow each other aw...Read More
Every year around this time, we check in with raw materials for our popular commodities halftime report. This year, it wasn't even a competition. Precious metals were the big winners for the first six months of 2020. Spot gold took the first place position, rising over 17 percent, followed in second place by silver, up nearly 2 percent. Palladium rounded out the top three, essentially flat at...Read More
- Stefan GleasonMany retail businesses including grocery stores and fast food restaurants have been wrangling with a national coin shortage. Some are posting notices informing customers that they will need to pay in exact change or use alternative payment methods such as credit cards.What's driving this scarcity of quarters, dimes, nickels, and pennies?The answer from the U.S. Mint: COVID-19....Read More
House Rep, Alexander Mooney, introduced a Bill that would the first true audit of gold owned by the United States in more than 65 years. The Bill, if passed, would require a full assay, inventory and audit of the U.S. gold every 5 years. Currently the gold is being "safe-kept" by the Fed.The last time a Bill was introduced to audit the Fed, specifically the gold and gold swaps activity, the F...Read More
By: Gary SavageHere is what to look for on the gold breakout. Bullion banks are stuck in a large short position, they have covered some but have a significant problem. After multiple attempts, gold has broken out of this sideways/box. A break above $1,800 doesn't hold a lot of resistance, but holds the potential to be a false breakout: Stocks becoming dangerous:Gary Savagehttps://blog.smartmoney...Read More
By: Ira EpsteinGold 1796 area is a swing point, if taken out, then the market will head towards its 18-dma support around 1786 area. Doesn't mean the party is over:Read More
The fall in silver and gold is just profit taking and should be used to go long or invest. Crude oil should crash (on demand fundamentals) but is not even correcting. New investors of precious metals and industrial metals are waiting for correction to invest. Pension's funds have to give pensions to pensioners. They have increased their portfolio allocation to gold. Silver price will break past...Read More
Fastmarkets proposes to change the publication time of its Latin American steel price assessments to Friday at 2-3pm New York time from Friday 2-3pm London time.This proposal affects the following price assessments: Steel hot-rolled coil (dry) export, fob main port Latin America, $/tonne - MB-STE-0133 Steel hot-rolled coil import, cfr main ports South America, $/tonne - MB-STE-0102 ...Read More
Most steel scrap prices in Mexico fell during the week ended Friday July 10 amid slow demand, with the market affected by pessimism stemming from the monthly settlement in the United States.At least one scrap buyer has applied price cuts totaling 500 pesos ($22) per tonne since the end of June, while others have reduced prices by 300 pesos per tonne.Of the 10 grades of ferrous scrap tracked b...Read More
Turkish steel producers have resumed their deep-sea scrap purchasing at slightly higher prices, sources said on Tuesday July 14.A steel producer in the Iskenderun region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $257 per tonne, 27,000 tonnes of shredded at $262 per tonne and 3,000 tonnes of bonus at $267 per tonne cfr.This compared with transactions for US material at...Read More
Fastmarkets proposes to change the publication time of its Latin American steel price assessments to Friday at 2-3pm New York time from Friday 2-3pm London time.This proposal affects the following price assessments: Steel hot-rolled coil (dry) export, fob main port Latin America, $/tonne - MB-STE-0133 Steel hot-rolled coil import, cfr main ports South America, $/tonne - MB-STE-0102 ...Read More
The prices for steel rebar and billet in the United Arab Emirates were stable this week, but buyers were expecting new local rebar prices next week, market sources said on Tuesday July 14.Some rebar import deals were heard from Oman during the period, at the same prices as were heard last week.Domestic rebarMills in the UAE were offering rebar at 1,770-1,774 dirhams ($482-483) per tonne ex-works,...Read More
A Red Cloud Securities report discusses why the firm is "encouraged by Vox Royalty's pace and disciplined growth strategy." In a June 30 research note, Red Cloud Securities analyst Derek Macpherson reported that Vox Royalty Corp. (VOX:TSX.V) agreed to acquire a 1% nonsmelter returns (NSR) royalty on certain Bulong gold project concessions in Western Australia for AU$750,000. The deal is expected...Read More
H.C. Wainwright & Co. raises GoldMining's target price after increasing its long-term gold price forecast. Almaden projectIn a July 13 research note, analyst Heiko Ihle reported that H.C. Wainwright & Co. increased its target price on GoldMining Inc. (GOLD:TSX; GLDLF:OTCQX) to CA$7 per share from CA$6.50 after upwardly revising its precious metals price forecasts. GoldMining's current share price...Read More
Bulk alloys markets in Europe and India look set to trade under persistent pressure from a lack of demand in the near term, with weekly price falls raising the prospect of production cuts, according to industry sources.In Europe, the ferro-silicon market fell to a near three-and-a-half-year low in the week to July 10 after briefly stabilizing the previous week. Sustained weakness in steel, pa...Read More
New flat steel import duties are expected to affect flat steel imports into the United Arab Emirates (UAE), market sources told Fastmarkets on Tuesday July 14.By July 19, the UAE will apply a duty of 500 dirhams ($137) per tonne on imports of color-coated coil - in effect until May 14, 2021.The main supplier of color-coated coil to the UAE is China, Fastmarkets...Read More
Stewart Thomson, Graceland Updates1. The big question about America is how much more money the Fed can print while the government runs a program of borrowing money to infinity... before hyperinflation turns the fading empire into a fire pit.2. The debt-themed empire is in tatters already, but it has yet to become an inferno. The world watches aghast, as Americans blow each other aw...Read More
By: Gary SavageHere is what to look for on the gold breakout. Bullion banks are stuck in a large short position, they have covered some but have a significant problem. After multiple attempts, gold has broken out of this sideways/box. A break above $1,800 doesn't hold a lot of resistance, but holds the potential to be a false breakout: Stocks becoming dangerous:Gary Savagehttps://blog.smartmoney...Read More