What the government is trying to do is hold everyone in America harmless, and every business in America harmless, for the massive dislocation, disruption of business cash flow, and interruption of Continue...Read More
Wussius AmericanusKarl Denninger is an American technology businessman, finance blogger, and political activist, sometimes referred to as a founding member of the Tea Party movement. His website is The Market Ticker. Read More
The pig iron market in the United States remained inactive during the week to Friday April 24 due to low steel production rates and the resulting reduced need for pig iron.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $290-295 per tonne on Friday, up by $5 per tonne from $285-290 per tonne a week before."Our steel mills are operating at record-low ra...Read More
The latest unemployment numbers hit today and have spooked investors worldwide. But as Mike Maloney points out in today's update - it may be even worse than you think. 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 education c...Read More
"We may, and we may go beyond that." "We're going to have to see where it is," Trump said. "I think people are going to know just out of common sense. At some point, we won't have to do that. But until we feel safe, we're going to be extending."Continue...Read More
"Then I see the disinfectant, one minute. Is there a way we can do something like that, by injection inside, or almost a cleaning. Because you see it gets in the lungs and it does a tremendous number on Continue...Read More
Doctors are rethinking when and how to use ventilators to treat covid-19 victims - and in some cases whether to use them at all.Continue...Read More
"No reasonable economic justification explains the magnitude of the pricing disparity." Continue...Read More
When weak instruments within the same asset class start to show strength, there is a good Continue...Read More
The collapse in air travel that's grounded passenger jets - frequently used to transport gold products Continue...Read More
The price of containerized ferrous scrap imports into India inched lower this week while the market continues to grapple with the fallout of the lockdown period in the country, sources told Fastmarkets on Friday April 24.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $269.13 per tonne on Friday, down from $272.50 per tonne a week earlier.Since lockdown...Read More
No uptick required for short selling! It's total insanity..... Shorting with no uptick required...creating chaos and damaging marketsThis first paragraph is a letter we received from a professional investor and money manager for many decades. As follows:The question is and always has been are the stock markets primarily for the investing public or for the banks' and brokerage houses' pr...Read More
Brazil's slab export prices were stable this past week, with few volumes offered and costs continuing to pressure steelmakers' margins.Fastmarkets' weekly assessment for steel slab, export, fob main port Brazil was at $320-345 per tonne on Friday April 24, unchanged from the previous week.Prices near the lower end of the range corresponded to offers and consultations in Asian countries,...Read More
CIS export billet prices lost their upward momentum this week, with demand in most outlets turning weak. Turkish customers that had been particularly active recently were now showing less interest in billet imports, having booked enough material earlier."I expect the market to turn quiet by the end of the week," one trader said at the start of the week. "On Wednesday, Turkey will be on holiday, on...Read More
Vietnamese integrated steelmaker Hoa Phat plans to raise its long steel capacity by installing a new wire rod rolling mill at its Dung Quat site, located some 700km south of capital city Hanoi. The announcement of further long steel capacity at the sprawling Dung Quat complex follows a rise in steel sales for the company during the month of March. Hoa Phat's new rolling mill will have a capacity o...Read More
Key data from Fastmarkets' pricing session in Shanghai, New York and Galway on Friday April 24. China The lower end of domestic prices widened downward due to producers' attempts to destock. Export market dropped after suppliers slashed their offer prices to attract...Read More
British Steel is set to restart production at its North Yorkshire special steel mill, on Monday April 27, following a three-week shutdown the company announced on April 24.In addition to the 240,000 tonnes-per year special steel mill at Skinningrove in Redcar & Cleveland, the company said it also plans to reopen its Lisburn service centre in Northern Ireland."Whi...Read More
Oil suffered its biggest one-week decline in historyThe Dow finished the day up over 250 points after rebounding from its midday lows, but still ended the week lower, its first weekly decline for April. Sentiment was boosted by U.S. President Donald Trump signing the long-awaited $484 billion coronavirus aid package. However, this sour session of earnings and economic data quickly provided a mark...Read More
Oil prices collapsed into negative territory for the first time ever this week To no one's surprise, it was another wild week on Wall Street, with oil's historic nosedive front and center. Stocks started the week in a downward spiral after oil futures for May delivery collapsed into negative territory for the first time ever on Monday. Things improved slightly by mid-week, as crude futures began t...Read More
A summary of Spain-based stainless steel producer Acerinox's financial results for the first quarter of 2020. In brief The company said the stainless steel market recovery in the first quarter was cut short by the impact of the Covid-19 coronavirus, with profits down 14% year on year. The company had paused operations in Spain for four days in April and will resume...Read More