Imports of long products to the European Union dropped during the first four months of 2020 year on year due to the toxic combination of the effect of Covid-19 on consumption and rising protectionism. According to European steel association Eurofer, imports of rebar from outside of EU in January-April 2020 totaled 370,514 tonnes, down by 37% from 589,428 during the corresponding period of 2019. At...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort330,20567,77759,596125,909427,927515,710555,300Change from Prior Reporting Period -6,825-1,8955,5667,4856,9116,22610,582Traders22765875666318190 Small Speculators LongShortOpen Interest 64,46524,875580,175 1,173-3,1837,399 non reportable positionsChange from the previous reportin...Read More
Miles Franklin sponsored this article by Gary Christenson. The opinions are his and are not investment advice.Breaking News:? Gold reached $1,800, close to its all-time high of $1,923.? Silver reached $19, a long way from its high of $50.? The NASDAQ hit another new high.? Tesla closed on July 10 at $1,544, a new high. Tesla looked outrageously high at $1,200...Read More
This is an interesting interview between Professor Brian Lucey and Dr. Fergal O'Connor, lecturer in finance and economics at University College Cork (UCC) on gold's performance as a safe haven asset in the last 200 hundred years and in recent history including the 2008-2012 global financial crisis. The pandemic is one moment in history and Brian and Fergal discuss what gold has done in oth...Read More
Peter Schiff appeared on the Joe Rogan Experience this week. The wide-ranging, three-hour interview covered a number of topics, including a critique of socialism, the 2020 presidential election, the recent social unrest and how to fix troubled communities, how the minimum wage hurts workers, and the economic impacts of the coronavirus.Peter Schiff on Joe Rogan's podcast on July 15, 2020As far...Read More
Spot gold getting higher than comex gold futures. Silver is still in bullish zone. Covid is spreading in nations which have opened after lockdown. Gold and silver are soft just due to vaccine hopes and nothing else. Rest of the factors are all bullish. Gold investment demand from ETF and others will not fall significantly unless there are other safe options. Federal Reserve meeting on 29th July...Read More
Crude steel output in Italy decreased by 7.88% year on year in June due to the decrease in steel demand amid the effects of the Covid-19 lockdown measures, Italian steel association Federacciai said on Friday July 17.The county's crude steel production totaled 1.92 million tonnes in June 2020, down from 2.08 million tonnes in the same months of 2019.The June decrease, however, was less then the re...Read More
The prices paid for steel scrap by mills in Turkey and Asia have moved up over the week ending Friday July 17, against a backdrop of stronger Chinese prices for iron ore and steel.Turkish steel producers continue to book deep-sea scrap at progressively higher prices through the weekUS East Coast market activity increased after new sales to TurkeyVietnamese scrap demand was supported by a surge in...Read More
The pig iron market in the United States was silent during the week ended Friday July 17, with prices considered high compared with those for ferrous scrap and hot-rolled coil.Fastmarkets' weekly price assessment for pig iron, import, cfr Gulf of Mexico, US was unchanged at $330 per tonne on Friday, in line with the latest deal done in the market during the week to July 10.No interest was rep...Read More
Turkish steel producers continued their deep-sea scrap purchases at the end of the week at slightly higher prices, sources told Fastmarkets on Friday July 17.A steel mill in Northern Turkey booked a Baltic Sea cargo, comprising 8,000 tonnes of HMS 1&2 (80:20) at $260 per tonne, 14,000 tonnes of shredded at $265 per tonne and 4,000 tonnes of bonus at $270 per tonne cfr.Another steel mill in the Izm...Read More
The CIS export steel billet market had become firmer by the end of the current week with more customers accepting higher prices, spurred by rising raw materials costs globally and continuing positive sentiment in China.A large cargo of Ukrainian billet was reported sold to China at $415 per tonne cfr, equivalent to $370-375 per tonne fob Black Sea.Deals from the Black Sea basin were rare in China...Read More
The Critical Investor examines the latest news from this junior with a flagship copper-zinc project in Portugal, which also includes finalizing a joint venture with MATSA and preparing for the season's drill program. As gold stocks are getting all the attention at the moment, with gold firmly in an upward trend, it seems, one could almost forget the existence of base metal juniors. This is not e...Read More
Bob Moriarty of 321gold discusses a junior that is exploring a past-producing gold mine in Nevada. Alta Gold went bankrupt in April of 1999 due to low gold prices. They had an existing gold producing mine near Ely in Nevada they called the Griffon Mine. Nevada Sunrise picked up the project almost twenty years ago but didn't move it forward. Nevada Sunrise was bought out by Pilot Gold. Pilot chang...Read More
Gold Standard Ventures and its new investor agree to a series of financing transactions valued at US$22 million. Gold Standard Ventures Railroad-PinionIn a news release, Gold Standard Ventures Corp. (GSV:TSX.V; GSV:NYSE) announced a strategic partnership with Orion Mine Finance who has agreed to invest US$22.5 million in the company."We are very pleased to announce our strategic partnership with...Read More
Demand for Japanese steel scrap in key Vietnam import markets continued this week with domestic steelmakers sourcing the raw materials to churn out billet for Chinese buyers, sources said."A lot of spot demand for scrap in Asia is now [coming from] Vietnamese steel mills, which are betting on the Chinese appetite for billet imports to continue," a mill source in Asia told Fastmarkets on Friday Jul...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday July 17.China The domestic market remained stable in the week ended Friday July 17, with limited spot trading, after many suppliers had sold out their cargoes available for this month. A number of smelters restarted their...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Prices hold, pipe buying stalls Seamless prices remained broadly stable in much of the world this month - with the notable exception of falling Japan fob prices, because oil and gas producers have been less inclined to fight for premium products as they cut their capital expenditure - but this was not the result of a balance...Read More
The number of cases of Covid-19 in the U.S. have been rallying very quickly in last weeks, giving way only to the gold prices, which have surpassed $1,800. It’s not easy to terminate the viruses, especially that they are not quite alive. Indeed, the pandemic of the coronavirus is still not over, as the chart below shows. The global number of daily confirmed Covid-19 cases has surpassed 220,0...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort330,20567,77759,596125,909427,927515,710555,300Change from Prior Reporting Period -6,825-1,8955,5667,4856,9116,22610,582Traders22765875666318190 Small Speculators LongShortOpen Interest 64,46524,875580,175 1,173-3,1837,399 non reportable positionsChange from the previous reportin...Read More