Domestic steel rebar prices in Poland remained fairly stable week on week on September 11, while producers considered new hikes for October bookings on steady demand and bullish scrap, sources told Fastmarkets on Friday.Rebar prices in Poland have stabilized after an increase last week, leaving Fastmarkets' latest price assessment for steel reinforcing bar (rebar), domestic, exw Poland at 1,920-1,...Read More
Rebar prices in eastern China were unchanged on Friday September 11 compared with a day earlier amid futures strength and declining billet prices.DomesticEastern China (Shanghai): 3,680-3,700 yuan ($537-540) per tonne, unchangedNorthern China (Beijing) weekly assessment: 3,630-3,660 yuan per tonne, down by 30 yuan per tonneRebar futures rose amid support from higher production costs and market par...Read More
Steelmaking margins at Bangladeshi mills have come under pressure after a decline in steel prices combined with further price increases for imported scrap over the last week, sources told Fastmarkets.Scrap prices continued to rise in the South Asian country due to a strengthening of the United States' domestic scrap markets, which made sellers more reluctant to offer cargoes for export. Run rates...Read More
Turkish steel mills stepped out of the market for imports of steel scrap in recent days following a spate of buying in the first half of the week to Friday September 11, while scrap prices in Southeast and East Asia have continued their climb.Turkey goes quiet after latest seven-cargo buying spreeUS export markets inch up following Turkish dealsVietnamese scrap prices increase after Japan auction...Read More
The UK market for deliveries of steel scrap to domestic consumers has risen in September, adding ?10 ($13) per tonne to the earlier ?15 per tonne rise in August, with major shredders competing for scarcer material with smaller scrap suppliers, industry sources said this week.Moreover, a steady rate of export business to deep-sea destinations such as Turkey and the Indian sub-continent has also h...Read More
Export pig iron prices from Brazil went up again during the week to Friday September 11 on new sales.Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil at $360-370 per tonne on Friday, up by $10 per tonne from $350-360 per tonne one week earlier. ...Read More
Export prices for Brazil-origin steel slab have widened upward in the past week with offers continuing to increase and material remaining scarce, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, widened upward to $440-460 per tonne on Friday September 11, from $440-450 per tonne a week earlier.Offers of Brazilian slab were heard mainly in Nor...Read More
Rebar prices in eastern China were unchanged on Friday September 11 compared with a day earlier amid futures strength and declining billet prices.DomesticEastern China (Shanghai): 3,680-3,700 yuan ($537-540) per tonne, unchangedNorthern China (Beijing) weekly assessment: 3,630-3,660 yuan per tonne, down by 30 yuan per tonneRebar futures rose amid support from higher production costs and market par...Read More
Danielle DiMartino Booth is CEO & Chief Strategist for Quill Intelligence LLC, a research and analytics firm. She 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...Read More
*This interview was filmed on August 19thDoug Casey is an American-born libertarian economist and advocate of the free market. He is a bestselling financial author, international investor, entrepreneur, and the founder and chairman of Casey Research, a provider of subscription financial analysis about specific market verticals including natural resources/metals/mining, energy, commodities, and tec...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday September 11.China The upward momentum in the domestic market continued for a third week, with prices moving up by 100 yuan ($15) per tonne amid buoyant sentiment after major steel mills raised their tender prices. Hesteel set its September tender price for 72% ferro-silicon at 6,050 yuan...Read More
MAG Silver Corp. reported it has entered into an agreement to consolidate and acquire 100% of the Deer Trail CRD Project in Piute County, Utah. MAG Silver Corp. (MAG:TSX; MAG:NYSE A) announced in a news release, that it has executed an agreement to "consolidate and acquire 100% of the silver-rich Deer Trail Carbonate Replacement Deposit (CRD) project in Piute County, Utah." The firm advised that...Read More
A-Mark Precious Metals shares traded 22% higher after the firm announced FY/20 financial results that included a 96% YoY increase in Q4/20 revenue and a special dividend of $1.50 per share. Full-service precious metals trading company A-Mark Precious Metals Inc. (AMRK:NASDAQ) yesterday announced financial results for the fiscal fourth quarter and full year ended June 30, 2020.The company reported...Read More
Liberty Gold is currently running four drill rigs on the Black Pine property. Three Liberty Gold Black Pine DiscoveriesLiberty Gold Corp. (LGD:TSX; LGDTF:OTCQB) announced in a news release that additional results from the third high-grade oxide gold discovery, or D-3 zone, at its Black Pine project in Idaho showed more multiple thick intervals of oxide gold mineralization."The new D-3 zone contin...Read More
Toined the macro, that is (in Moe’s Brooklyn accent). Step by step…A rising Gold/Silver ratio preceded the March disaster, made an ill-fated bounce pattern in May-June and then got hammered by the 24/7 liquidity spigots opened up by a desperate Federal Reserve and Trump admin. They are desperate because the inflation MUST take hold in order to keep the system from unwinding to its fun...Read More
Crude oil declined quite substantially this week, and it doesn’t look that the decline will be over just yet.After a given market clearly moves in a certain direction, corrective moves are bound to happen. After all, no market can move in a straight line up or down. But still, this assumption might be misleading in case of the current situation in black gold. Obviously, it is taking a breath...Read More
Brazilian ferrous scrap exports fell both year on year and month on month in August while suppliers shifted their focus to the domestic market, data published this week by the country's ministry of the economy shows.Scrap exports reached 55,377 tonnes in August, a 19.7% year-on-year decrease from 69,000 tonnes in 2019 and a 27.6% drop in comparison with 79,460 tonnes in July of this year.The count...Read More
Russia's Severstal is running a modernization program at its Cherepovets steelmaking facility, which - though it may lead to short-term production cuts - will help it raise its annual steel output by 1 million tonnes by 2023.Several sources have reported that the major mill had scheduled a two-week maintenance for its 2-million-tonnes-per-year hot-rolling mill in October. They estimated that this...Read More
RESEARCH HIGHLIGHTS:Breakdown in Crude Oil sparks talk of sub $30 price targets.Initial support likely near $32 to $33.Predictive Modeling suggests deeper price lows may be reached before November 2020.Have you been paying attention to Crude Oil recently? Prices have collapsed over -15% from the recent highs near $43.78. You may remember a research article I posted originally in July 2019 su...Read More
Since posting new record highs in early August, the gold market has consolidated above $1,900/oz support.A close below the $1,900 level would carry bearish implications for the near term.Alternatively, a move back above $2,000/oz would likely be followed through to the upside with a rally to fresh highs. Silver, in turn, could be expected to run to new multi-year highs above $30/oz. These breakout...Read More