Turkish rebar and wire rod export markets remained sluggish over the past week due to the global spread of the novel coronavirus (2019-nCoV) outbreak, sources told Fastmarkets on Thursday March 19.Apart from one or two position sales by traders to Asia and the United States, there have been no significant rebar sales in the past two weeks, sources said.Steel producers were offering rebar...Read More
The Turkish deep-sea scrap import market was quiet on Thursday March 19, despite a sharp decrease in prices the day before, sources have told Fastmarkets.On March 18, a steel mill in the Marmara region booked a Canadian cargo, comprising 18,000 tonnes of HMS 1&2 (90:10), 20,000 tonnes of shredded and 12,000 tonnes of plate and structural (P&S) scrap, at an average price of $255 per tonne cfr.Marke...Read More
Prices for bulk ferrous scrap cargoes imported into Bangladesh have fallen over the past week amid a deterioration in international scrap prices and heightened disruption created by the 2019-nCoV coronavirus pandemic, market sources told Fastmarkets on Thursday March 19.Bangladesh has provided a rare bright spot for bulk scrap sellers over recent weeks, with a strong local steel market and high co...Read More
Seaborne iron ore prices dropped on Thursday March 19, though uncertainty about supply persisted and the futures prices on the Dalian Commodity Exchange regained some losses made earlier in the morning. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $91.36 per tonne, down $0.35 per tonne 62% Fe low-alumina fines, cfr Qingdao: $92.37 per tonne, down $0.83 per tone58% Fe fines high-grade pr...Read More
Steel billet import prices in Egypt fell in the week to Thursday March 19, but there was no resulting pick-up in demand, sources told Fastmarkets.The spread of the novel coronavirus (2019-nCoV) in Egypt has caused trade to decrease significantly, and many offices have been closed, sources told Fastmarkets.As of March 19 there were 210 confirmed infections in Egypt, with si...Read More
(March 18, 2020)Before we look at tonight's charts I would like to take a minute and explain to our new members how we manage the different portfolios. We have 3 different portfolios, the Kamikaze, Leveraged and the PM Stocks Trade portfolios with each having $100,000. That $100,000 in each portfolio is then broken down into $5000 increments for each trade giving us a total of 20 trades for each...Read More
By: Gary Savage As I have said before, this will form a final 4-year cycle low, a bounce, then retest of the lows again but then..https://blog.smartmoneytrackerpremium.com/Read More
By: Ira EpsteinGold $200 an ounce from the highs. Liquidity needs. Technically speaking, PAY ATTENTION: ranges are starting to narrow, innately -- but volatility is being taken out:Read More
The U.S. dollar has been one of the few big winners lately, but this is hardly a good thing. If the greenback continues to strengthen, it will hurt U.S. multinationals whose overseas revenues are reckoned in currencies that would be falling. In addition, all who owe will need to repay their loans in dollars more dear than at the time they were borrowed. And it will sink prices for a broad vari...Read More
I had mentioned long before that there will be a big disconnect between future price of gold and silver and physical price of gold and silver. Yesterday physical price of silver was much higher than silver future. One three reasons why I have been telling to only invest in physical gold and physical silver for your retirement. Physical silver price was much higher than future price. One can trad...Read More
Prices in the Commonwealth of Independent (CIS) export billet market slumped on Thursday March 19 following the sharp drop in import steel scrap prices in Turkey a day earlier.Russia's Abinsk Electric Steel Works offered billet at $360-365 per tonne fob Black Sea, against $390-392 pertonne heard earlier in the week, while other CIS-based mills adopted a 'wait-and-see' mode."We are not offering at...Read More
Prices in Southeast Asia's steel billet market were unchanged despite a slump in emerging market currencies following investors' preference for haven assets in uncertain economic conditions, Fastmarkets heard.Fastmarkets' daily price assessment for steel billet, import, cfr Southeast Asia - which mainly looks at 120-150mm 5sp grade billet sold into Manila - was $400-410 per tonne on March 19, unch...Read More
To Watch Update #51, CLICK HEREFinally some good news? Several drugs show promise for treating covid-19. Chloroquine (and hydroxychloroquine), an anti-malarial drug, is in the news today, prominently mentioned during President Trump's morning press conference. Research does indeed indicate that chloroquine has 'apparent efficacy and acceptable safety against covid-19 associated pneumonia', and has...Read More
Jordan discusses the S&P selling off and how it is the most oversold since 2008. When you get an accelerated sell-off, you get funds busting and lots of margin calls. This starts impacting on gold and other liquid assets like silver. Inevitably this is all bullish for gold and silver once this phase passes.He expects a rip-roaring bull market in the not too distant future that will last for severa...Read More
Max interviews Craig Hemke of TFMetals.com about what might happen as markets continue to unwind and the era of the 'Fed Put' comes to an end. They also discuss the Trump administration planning a 'universal basic income' for the duration of the coronavirus pandemic. Known primarily by his nickname "Turd Ferguson," Craig Hemke is the founder and editor of the popular TF Metals Report blog and podc...Read More
Bridgewater founder and co-chairman Ray Dalio said the U.S. corporations will lose as much as $4 trillion due to the economic damage from the coronavirus outbreak.Ray Dalio is an American businessman and founder of the investment firm Bridgewater Associates, one of the world's largest hedge funds. In 2012, Dalio appeared on the annual Time 100 list of the 100 most influential people in the world....Read More
The typically stable treasury market has been extremely volatile in the past week and now interest rates are going back up, even after unprecedented cuts for the Fed. Jim Grant, founder and editor of Grant's Interest Rate Observer, joins "Squawk Box" to discuss.James "Jim" Grant is an American writer and publisher and the founder of Grant's Interest Rate Observer, a twice-monthly journal of the fi...Read More
Maloney has never been one to hold back when it comes to the madness of 'floating' fiat currencies. In this update you'll see that rather than floating, they are all in 'free-fall' when measured against true money, gold and silver. As a bonus, check out Mike's tie fashion from 2005, find out what data the Fed is starting to send to the memory hole, and brace yourself for a warning against the onco...Read More
California Gov. Gavin Newsom told the Trump administration that 56 percent of his state's population is projected to be infected with the coronavirus over an eight-week period. Continue...Read More