The pig iron market in the United States has weakened further due to the general economic slowdown caused by the novel coronavirus (2019-nCoV) pandemic, sources told Fastmarkets in the week to Friday March 20.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $330-340 per tonne on Friday, down from $345-350 per tonne a week ago."Scrap prices will go down...Read More
The inter-merchant spot market for light iron scrap in the UK fell almost 19% over the week, marking an abrupt end to five weeks of stability, as major shredders cut their buying prices on expected weaker demand for steel from UK-based carmakers, sources told Fastmarkets.The move also follows a dramatic fall in European steel scrap export prices into Turkey this week which saw the market move down...Read More
Export prices for pig iron from Brazil softened during the week ended Friday March 20 because of the weakness of the country's Real and lower demand in the domestic market.Fastmarkets' weekly price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $315-320 per tonne on Friday, down from $320-325 per tonne a week before."A weak Real supports pig iron producers, which are focusin...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 317,40535,48950,438154,761456,470522,604542,397 Change from Prior Reporting Period -18,885-1,270-3,626-28,187-54,782-50,698-59,678 Traders 18073785254268172 Small Speculators LongShortOpen Interest 51,32131,528573,925 -8,847133-59,545 non reportable posit...Read More
The mid-tier gold miners' stocks have been annihilated with COVID-19 fears infecting traders' sentiment. They crashed with gold getting hammered on extreme gold-futures selling! With blood in the streets, the buy-low opportunities are phenomenal. The fundamentally-superior mid-tier gold miners have epic upside potential during gold's next upleg. This key sector just reported outstandin...Read More
Dave Kranzler, Investement Research Dynamic's Mining Stock JournalThe "60/40 risk parity" hedge fund strategy has been decimated in the market sell-off. The strategy was supposed to generate consistent returns while minimizing risk. So why not apply hedge fund leverage to the trade and enjoy multiples of "consistent returns" and "minimized risk?" The risk parity funds were among the most...Read More
There will be position squaring and rebuilding for next week. Copper, crude oil, nickel and other industrial metals can rise as result. If silver falls below $9.50 or trades below $9.50, then it will imply that the corona virus has made Asia (except China) as its home ground. Economic data releases are useless at this point of time. Bank of England has cut its key interest rates to 0.10% in a se...Read More
Slab export prices from Brazilian producers dropped sharply in the week ended Friday March 20, with customers avoiding purchases amid uncertainty about the spread of the 2019-nCoV coronavirus pandemic.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, fell to $400-430 per tonne on Friday, compared with $460-470 per tonne a week earlier.By late last week, offers of B...Read More
MacroVoices Erik Townsend and Patrick Ceresna welcome Jim Bianco to the show to talk about the impact of COVID-19 on the economy and markets, the systemic risks to markets and impact on dealers & more. Then Kevin Muir joins in the postgame to talk about the imploding risk parityUpdate on the COVID-19The impact of the virus on the economy and marketsSystemic risks to markets and impact on dealersHa...Read More
Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest independently owned securities firms. In 2001, Eric established Sprott Asset Management Inc. Over the years, Eric has personally been the recipient of numerous awards and honors, including one of Investor Dig...Read More
"We are nationalizing entire industries!"Gregory Mannarino started his financial career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. He is an active trader of the capital markets and has published several books pertaining to finance, global economics, and equity trading; His most recent book is titled Ultimate Guide To Money and The Markets...Read More
Dow ends it's streak of thousand point moves after 8 consecutive days.The unemployment claims are skyrocketing and they're going to increase.America lost every war it ever fought.The government will not let this coronavirus crisis go to waste.CNBC brings in captains of industry to weigh in with their bad ideas.CEOs are looking for bailouts to protect their ownership of the companies, not the compa...Read More
Bob's website: tradegeniusacademy.comRead More
"When I talk about the most drastic action we can take, this is the most drastic action we can take," Cuomo said at a press conference in Friday.Continue...Read More
Despite a long history of bankruptcies and financial difficulties, the airline companies have not saved up any cash for a rainy day. The federal government has continuously bailed them out and allowed this type of risk-taking behavior to continue.Continue...Read More
Former OMB director David Stockman warns the S&P 500 could bottom out at 1,600, a more than 50% drop from its all-time high hit last month.David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. Dav...Read More
The central banks have been fighting a losing battle against the normal forces of how capital moves during a crisis. During a crisis as this, interest rates rise with the perception of a rise in credit risk. Continue...Read More
We will always need a banking system; we just don't need a banking system riddled with fraud and failure.Sigh! We missed a great chance to make the world a better place. Perhaps we can do better this time around.Continue...Read More
Portfolio Manager, attorney, finance author, a regular guest on North American media. Danielle Park is the author of the best selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," as well as a popular daily financial blog: www.jugglingdynamite.com. Danielle worked as an attorney until 1997 when she was recruited to work for an intern...Read More