Defaults among overseas buyers have become a problem for Chinese steel exporters in recent weeks, with falling prices and weakening demand triggered by the Covid-19 pandemic leading to an increase in export credit insurance claims.When contacted by Fastmarkets two weeks' ago, a source at a steel mill in northern China said he was having to deal with a shipment of 5,000 tonnes of hot-dipped galvani...Read More
Here are five Fastmarkets stories you might have missed on Monday April 20 that are worth another look.Last month, analysts started warning that oil prices could fall below zero. On Monday, they did.Iron ore fines output at Brazil-based miner Vale fell by 18.2% year on year in the first quarter of 2020, while the company has cut its guidance of iron ore and pellet production for 2020, the company...Read More
Turkish steel producers exited the deep-sea scrap import market on Monday April 20, after booking seven cargoes last week, sources told Fastmarkets.The seven deep-sea scrap cargoes totalled almost 220,000 tonnes."I think Turkish steel producers have booked enough cargoes for now. This week will probably be slow for trading," a source in Turkey said.Another...Read More
COLORADO SPRINGS, CO, April 20, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the "Company") reports preliminary consolidated production results for the first quarter ended March 31, 2020 of 10,142 gold ounces, 407,625 silver ounces and significant copper, lead and zinc. Gold Resource Corporation is a gold and silver producer, developer and exp...Read More
"After all, the chief business of the American people is business. They are profoundly concerned with producing, buying selling, investing and prospering in the world." John Calvin Coolidge Jr., American politician, lawyer, 30th President of the United States 1923-1929, Republican; 1872-1933 "The diseconomies of capitalism are treated as the public's responsibility. Corporate America skims the...Read More
By Clint SiegnerInvestment demand for physical gold and silver is unrelenting. Buying activity actually picked up slightly last week as paper gold and silver prices drifted sideways to lower.Once again, anyone simply watching the gold price on CNBC would be shocked to know just how many people are buying gold.The Fed, and the cabal of Wall Street Banks it represents, are undoubtedly relieved to...Read More
Strengths? The best performing metal this week was platinum, up 3.45 percent despite hedge funds cutting their net-long positions to an eight-month low. However, platinum mines in South Africa are to remain closed for time being. ETFs added 73,044 troy ounces of gold to their holdings in the trading session ended Thursday - marking the 19th straight day of inflows. Gold rose towa...Read More
By RambusAfter a long term bear market in most commodity related stocks we are starting to hear analyst talk about inflation. From a Chartology perspective the deflationary scenario is still in play but how much lower can this sector go? In tonights Weekend Report, I'm going to update some long term commodity charts we've been following for years to see where they are currently trading in their...Read More
By: Avi GilburtI know the title may sound unusual and almost unrealistic to those following the media cycle. With unemployment skyrocketing, GDP projections in the tank, bankruptcy expectations running sky high, and the average person on Main Street struggling terribly, how is this action even possible?So, before I outline my analysis, which is actually rather simple right now, I want to re-post...Read More
The news media and the pundits flailed around over the weekend trying to come up with reasons why the broad averages have rallied to within 10%-20% of record highs even though the global economy could be headed into a depression. ZeroHedge is usually able to provide plausible answers to such questions, but here's an attempt that fell short. It places commodity trading advisors at the center of...Read More
Today and tomorrow's close is the key to gold prices. If it falls till tomorrow then gold will move into a short term bearish phase. If not then gold prices will form a medium term bottom. Investment demand is there for gold. But investors will wait if gold prices fall today. Silver, copper and industrial metals will see higher demand from factories as more and more nations open up. World will o...Read More
Turkish domestic auto-bundle scrap prices increased over the past week due to rising imported ferrous scrap costs, sources said on Monday April 20.Deep-sea scrap import prices increased by more then $15 per tonne at the beginning of last week because of the limited supply coming from Europe and the United States, sources said.Following the upturn in the deep-sea scrap values, auto bundle scrap...Read More
China's domestic rebar prices softened on Monday April 20 on lower trading activity amid declining futures. Eastern China (Shanghai): 3,430-3,460 yuan ($485-489) per tonne, down by 20 yuan per tonneNorthern China (Beijing): 3,450-3,470 yuan per tonne, narrowed downward by 10 yuan per tonne Downtrending rebar futures sapped buying interest in the spot market, which pushed down spot prices.But...Read More
Have you read the recent studies claiming that many more people have or have recovered from the coronavirus than are counted officially? So have we. It's great news, right? It suggests that the fatality rate is MUCH lower than currently calculated and we're making progress towards national herd immunity, right? Not so fast, warns Chris. He pulls up the actual research studies behind the headlines...Read More
Legendary investor and former OMB Director David Stockman joins today's Liberty Report to take a hard look at the shutdown that has brought the US economy to its knees. Was it really necessary...and how can we ever recover? Don't miss today's Liberty Report...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, in...Read More
Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWee...Read More
Today, the world changed. Join Mike Maloney for this Special Report as he explains what 'Oil Armageddon' means for the world, your country, your family and your future. Buckle up.Michael Maloney is a precious metals investment expert and historian. He is the founder and owner of GoldSilver.com, a global leader in gold and silver sales/storage and one of the world's most highly regarded investment...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
From California to New Jersey, Americans are protesting in the streets. They are demanding an end to house arrest orders given by government officials over a virus outbreak that even according to the latest US government numbers will claim fewer lives than the seasonal flu outbreak of 2017-2018.Across the US, millions of businesses have been shut down by "executive order" and the unemployment rate...Read More