Aluminium alloys from China will be subject to at least 20% in tariffs by September while for hundreds of steel products it will be at least 35% if the latest round of tariffs threatened against China take effect, sources indicated to Fastmarkets.That is because the new tariffs US President Donald Trump signaled against China will be on top of the Section 232 tariffs under an earlier act that cove...Read More

The risk of an options-driven SPY sell-off is low as August expiration draws closer " ...round millennium levels on the S&P 500 Index (SPX - 3,025.86) and Dow Jones Industrial Average (DJI - 27,192.45), in addition to the level that represents the SPX's 20% year-to-date (YTD) gain (at 3,008), could act as resistance in the near term. And since rallying up to these levels in mid-July, these popular...Read More

Clive MaundThe charts we will look at in this update suggest that this is a perfect shorting setup that you see "once in a blue moon". On the 3-year chart for the S&P500 index we can see that it has essentially been trending higher all year, but has now arrived at an important double target - at the upper boundary of its giant broadening pattern, which may also be called a bullhorn or megaphone...Read More

StrengthsThe best performing metal this week was gold, up 1.54 percent. Gold investors were stocking up for further gains in the yellow metal ahead of the Fed's rate cut decision. On Wednesday, holdings in bullion-backed ETFs rose 4.8 tons to the highest level since April 2013, according to B...Read More

Jordan Roy-ByrneAfter a major trend change, it can be difficult for the majority of investors and market watchers to shift and adjust accordingly to the new trend.It's no different in the current case of precious metals which, other than a huge rally in the first half of 2016 have been dead money for the majority of the current decade. Despite the newfound bullish fundamentals and bullish techni...Read More

Dear Friend of GATA and Gold:A friend who has not been paying close attention to the gold market for a while asked your secretary/treasurer this afternoon for a summary of his outlook. With the monetary metals on fire tonight as they have not been for a long, long time, maybe the reply is worth sharing:1) The gold market has felt very different for months -- felt much stronger.2) The usual centr...Read More

By: Larry LaBorde During WWII the Germans were in need of money to buy foreign materials to conduct the war. It is estimated they stole almost 500 metric tons (around 16 million troy oz equal to $23 billion USD @ $1,450 / oz) from various governments. Most was taken from Belgium, the Netherlands, Austria and Czechoslovakia. The French gold (about 2,500 metric tons or 80 million troy oz) was sav...Read More

By Avi GilburtThe Fed gave us exactly what the market expected in a .25% rate cut, and even gave us a "gift" with the early cessation of Quantitative Tightening. Normally, most would view this as a bullish catalyst. However, with market sentiment topping out in a bullish extreme, market participants interpreted the Fed action as bearish (despite its positive substance), and the market sold o...Read More

Rising ferro-vanadium prices in China continued to push the European market higher during the week ended August 2, while vanadium pentoxide (V2O5) prices climbed more than 10% in Chinese and European markets. Chinese, European ferro-vanadium prices continue to rise amid increased spot activityV2O5 prices move up amid tightness US prices edge down The export price for ferro-vanadium in China rose f...Read More

Demand for flat steel in Turkey was only moderate in July because of the seasonal summer slowdown, market participants told Fastmarkets.And local producers have now filled their order books until late September, they said on Friday August 2.Turkish steel prices increased on May 17 after a US import duty applied at a rate of 50%, introduced in August 2018, was cut back to the previous level of 25%....Read More

GoldStockBull subscribers know that gold mining stocks have done quite well in recent months. But companies that have recently found bonanza grade gold have upside potential above and beyond that of their peers.2019 is proving to be a great year for gold. As COMEX Gold consolidates above $1,400 and now even $1,450, it's clear that the 6-year bear market has come to an end. In fact, when measured a...Read More

The three-month copper price on the London Metal Exchange continued its downtrend over Monday August 5, closing below the nearby $5,700-per-tonne support level to reach its lowest settlement since June 2017, while nickel futures near $15,000 per tonne. Nickel continued to trade down over the day, closing at $5,685 per tonne after slipping to an intraday low of $5,640 per tonne this morning and fai...Read More

Key data from the pricing sessions in Asia and Europe for the week ended Friday August 2.ChinaKey drivers The Chinese silicon export market continued to remain stable week on week for the third consecutive week. The supply tightness and a sign of increased demand in the domestic market, amid resumed buying activity for August delivery from the secondary aluminum sector, have encouraged exporters t...Read More

Here are five Fastmarkets MB stories you might have missed on Monday August 5 that are worth another look.The United States will impose additional tariffs on Chinese goods entering the country from the start of September, according to US President Donald Trump, which could hit shipments of metals and minerals from China to the US and suppress commodity consumption in the former. JSW Steel (US...Read More

Total production for the first quarter was 257,556 GEOs from Yamana's six producing mines, down 5.3% sequentially.Revenues were $463.5 million with net income of $14.1 million or $0.01 per share.I am not super-excited by the miner and its less than stellar results. However, I recognize that the stock could eventually wake up from its long dormancy. Image: Cerro Moro Mine in Argentina. Courtesy...Read More

The 65% Fe iron ore derivative contract offered by the Singapore Exchange (SGX) registered record levels of open interest and monthly traded volumes in July 2019, with the contract seeing participation from a diverse set of physical and financial stakeholders in the iron ore value chain.Open interest for the contract, which is settled on the basis of Fastmarkets' index for iron ore 65% Fe Brazil-o...Read More

The three-month copper price on the London Metal Exchange continued its downtrend over Monday August 5, closing below the nearby $5,700-per-tonne support level to reach its lowest settlement since June 2017, while nickel futures near $15,000 per tonne. Nickel continued to trade down over the day, closing at $5,685 per tonne after slipping to an intraday low of $5,640 per tonne this morning and fai...Read More

Seaborne iron ore prices tumbled for a second day on Monday August 5 amid pessimistic sentiment generated by China's ongoing trade war with the United States, which picked up in intensity toward the end of last week.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $100.56 per tonne, down $7.17 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $99.06 per...Read More

Uncertainties surrounding the trade war between China and the United States sapped trading activity in both the futures and physical markets for Chinese rebar on Monday August 5, resulting in prices falling further.Domestic Eastern China (Shanghai): 3,770-3,800 yuan ($546-551) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,730-3,760 yuan per tonne, down 20 yuan per tonneSeveral analy...Read More

Hebei Steel set its purchase price for silico-manganese alloys at 7,850 yuan ($1,131) per tonne for August delivery, down by 50 yuan per tonne from the price for July-delivery cargoes, market sources told Fastmarkets on Monday August 5.The tender result, which was supposed to be released in the week ended on Friday August 2, did not come out until August 5 because of extended negotiations between...Read More