European flat steel producers have reduced output, and some of them have stopped operating certain equipment, in their attempts to balance supply and demand after multiple automotive producers suspended their operations because of the Covid-19 pandemic.All the major steel coil producers in Northern Europe - including ArcelorMittal, Thyssenkrupp, Salzgitter and Tata Steel - have taken steps to cut...Read More
Prices for domestic and imported steel beams remained unchanged in the United States in March, even as demand faltered and new orders sagged.With precautions taken to limit the spread of Covid-19 creating delays in the supply chain in some areas, market participants expressed heightened uncertainty about the outlook for this market. Fastmarkets' monthly price assessment for steel beams 8 x 8-...Read More
Algerian steelmakers Algerian Qatari Steel (AQS) and El-Hadjar Iron & Steel Complex have stopped crude steel production because of the Covid-19 pandemic, market sources told Fastmarkets on Friday March 27.The country's authorities have issued a decree calling on companies to reduce their non-essential workforces by at least 50% to limit the spread of the virus. The decree came into force on...Read More
The pig iron market in the United States dropped again in the week to Friday March 27, but not as much as buyers anticipated because material availability fell considerably due to heavy sales to China.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $320-325 per tonne on Friday compared with $330-340 per tonne one week prior."Scrap is falling in April by $3...Read More
The price of austenitic alloy steel scrap in Europe plunged this week because of a sharp drop in demand, despite a lack of availability, sources told Fastmarkets on Friday March 27.The low demand has stemmed from a mixture of closures and reduced output rates at stainless steel mills, meaning a reduction in their feedstock requirements. In Italy, all mills have suspended operations following a gov...Read More
The price of ferrous scrap imported into India plummeted this week after the announcement of a 21-day lockdown across the country, sources told Fastmarkets on Friday March 27.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $247 per tonne on Friday. This was down by $44 per tonne from $291 per tonne one week earlier and at its lowest since October 24, 201...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
Dear Friend of GATA and Gold:What the heck are those mysterious "exchange for physicals," the mechanisms by which contracts to buy gold on the New York Commodities Exchange are neither fulfilled by delivery on the Comex nor settled for cash there but transported for supposed delivery elsewhere?The mechanism long has been incorporated by the Comex trading system but was described as an "emergency...Read More
Steve St. Angelo, SRSrocco Report There's more evidence finally surfacing in the media of the dire energy predicament the world is now facing. The negative ramifications of peak oil and the falling EROI were going to hit the world economy within the next 2-5 years, but the global contagion has sped up the process considerably. Unfortunately, the world will never return back to the energy co...Read More
Dave Kranzler, Mining Stock JournalThe Government and the Federal Reserve are exploiting the virus crisis to implement another bailout - or attempted bailout of the "Too Big To Fail Banks." The stimulus Bill approved 96-0 by the Senate gives the Fed a $454 billion taxpayer funded "slush fund" for Wall Street bailouts. Just as troubling, the Bill suspends the Freedom Of Information Act for the...Read More
By: Ira EpsteinRead More
ArcelorMittal will idle the No3 blast furnace at its integrated slab and flat steel Tubar??o facility, in the country's southeastern Esp?-rito Santo state, because of impacts from the spread of the novel coronavirus, the company said on Friday March 27.The blast furnace at the Tubar??o unit, which has capacity to produce 2.8 million tonnes of crude steel per year, will be halted in early April for...Read More
Prices in the export billet market in the Commonwealth of Independent States continued to weaken in the week to Friday March 27 on declining scrap prices in Turkey and a lack of demand.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $340 per tonne, down by $1 from $341 per tonne on Thursday, and by $13 per tonne week on week.The majority of traditional outlets for CIS billet...Read More
To Watch Update #58, CLICK HEREIt's amazing that people are still being chided for taking steps to protect themselves from the coronavirus, when anyone with eyes can see that the spread of the disease is fast overwhelming authorities' ability to deal with it. Regular people are being told not only that they don't need masks, but that "masks don't work". Hospital workers are dangerously short on PP...Read More
Dr. Ron Paul is a physician and former twelve-term congressman from Texas who ran for president in 2008. He is the author of eight books, including the New York Times bestsellers The Revolution: A Manifesto and End The Fed. An unwavering defender of the US Constitution, Paul has been an advocate of sound money, personal liberty, free markets, and international peace throughout his political career...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
Market rallies on relief of stimulus bill passing and biggest government expansion since the New Deal.Increasing evidence that this will be the longest bear market in history, like the fact that the "experts" on CNBC believe the opposite.Dollar starting to sink as fed dilutes its value with endless money printing.The Greater Depression has just begun.Unemployment now more lucrative than employment...Read More
Brent Johnson has a huge following, and for good reason. He's one of the sharpest minds in finance and macro today. Brent Johnson is also featured consistently on Macro Voices AND Real Vision. The Brent Johnson "dollar milkshake" theory is very well known and I had the pleasure of interviewing him to get his opinion on the insanity in markets right now, along with the federal reserves unprecedente...Read More
*There are a few audio issues but overall the interview works fineRick Rule, founder and chairman of Sprott Global Resource Investments Ltd., began his career in the securities business in 1974. He is a leading American retail broker specializing in mining, energy, water utilities, forest products and agriculture. His company has built a national reputation on taking advantage of global opportunit...Read More