China's spot hot-rolled coil prices rebounded on Thursday August 22 after the release of statistics showing a drop in inventory levels for the flat steel product.DomesticEastern China (Shanghai): 3,700-3,720 yuan ($524-527) per tonne, up 10 yuan per tonneNorthern China (Tangshan): 3,700 yuan per tonne, unchangedSellers were only to sell at around 3,700 yuan per tonne in the morning in Shanghai, wh...Read More
Prices for imported steel reinforcing bar in the United States have continued to decline amid reports of confirmed material purchases from Spain, Turkey and Algeria, with the domestic market steady. Fastmarkets assessed steel rebar, import, cfr Houston, at $580-590 per short ton on Wednesday August 21, down by 2.5% from $590-610 per short ton two weeks earlier.Prices for imported rebar have b...Read More
Daily PDFs will be downloadable until Monday August 26. After that, because of the UK's Summer Bank Holiday, the next daily PDF will be downloadable on Wednesday August 28Read More
The steel billet import price in Egypt fell in the week to Thursday August 22, with market activity limited because buyers want to wait until the court makes a decision on safeguard duties. Egypt's Administrative Court suspended the temporary duties in July, prompting a flurry of court activity, which eventually led to the final session to discuss the matter being scheduled for...Read More
The export market for pig iron from the Commonwealth of Independent States (CIS) was quiet during the week ended Thursday August 22, on holiday absences and the competitive cost of scrap as an alternative.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $330-340 per tonne on Thursday, down from $335-343 per tonne a week before.The Italian...Read More
News of a fresh cargo traded out of Europe has broken the silence in the Turkish deep-sea scrap market and confirmed the latest assessments of price levels, sources said on Thursday August 22.A steel mill in Turkey booked a European cargo, comprising 16,000 tonnes of HMS 1&2 (80:20) at $275 per tonne and 4,000 tonnes of bonus at $285 per tonne cfr.This compared with the previous European cargo sol...Read More
By: Ira EpsteinFOMC minutes thoughts. Gold down on week, off its highs. Daily chart shows distribution, neutral view. Caught in a range: Read More
Gary TanashianMr. Steven Ricchiuto, he of a Masters in Economics from Columbia, has laid out the proper plan for the Federal Reserve in this oh so noisy environment in which an unassuming and fairly quiet man is trying to tune out a personal bully on Twitter, tune out the stock market's daily whipsaw and do what he perceives to be the right thing.Today, the academic named above throws in with Tr...Read More
No affect in gold and silver price after the FOMC minutes. Traders are still hooked to US-China trade relations, slowdown and central banks bunking US dollar. Federal Reserve policymakers were deeply divided over whether to cut interest rates last month but were united in wanting to signal they were not on a preset path to more cuts. In my view, Trump will start a currency war by forcing Federal...Read More
Seaborne iron ore prices bounced up on Thursday August 22 after a major plunge to almost a seven-month low a day earlier.Fastmarkets indicesIron ore 62% Fe fines, cfr Qingdao: $84.42 per tonne, up by $2.04 per tonne. Iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $84.80 per tonne, up by $2.04 per tonne. Iron ore 62% Fe low-alumina fines, cfr Qingdao: $83.13 per tonne, up by $2.56 per tonne. Iro...Read More
CIS suppliers are to reduce their export billet offers by the end of the week, due to a lack of trading activity in most sales outlets, sources told Fastmarkets on Thursday August 22.A Russian producer was offering August rolling billet at $405 per tonne fob Black Sea, but there were no takers ready to accept this price.A Ukrainian mill, shipping material from Azov Sea ports was offering bill...Read More
Frank discusses his early career, his experiences in the late 1970s in that bull market and how in 1997 he decided to do something different by starting Lionsgate Entertainment. After that, he started several successful gold companies including Wheaton River and in 2009 Endeavour Mining. Frank is now back in the resource space with Leagold Mining Corporation. He feels that central banks and govern...Read More
David Rosenberg is Chief Economist and Strategist for Gluskin Sheff in Toronto. In this episode, David answers questions regarding negative interest rates, central bank policy and the outlook for the dollar and gold.Read More
Discussed in this interview:01:42 Gold and silver off to the races?07:31 Commitment of Traders report showing physical market in control11:32 Rising gold and silver prices indicating a crisis ahead?15:28 Power pyramid of the financial elite20:47 Gold a threat to the financial elite?26:27 Impact of China and BRICS countries to 'Anglo-American' empire31:24 Silver's tiny share of global financial wea...Read More
Max interviews Charles Hugh Smith of OfTwoMinds.com about the 'gulag of the mind' keeping people trapped in the predatory financial and political system and the 'human tragedy' in San Francisco. And what does a post-imperial U.S. look like for the ordinary citizen? Not bad, it turns out.Max Keiser is an American broadcaster and film-maker. He hosts Keiser Report, a financial program broadcast on R...Read More
The steel billet import price in Egypt fell in the week to Thursday August 22, with market activity limited because buyers want to wait until the court makes a decision on safeguard duties. Egypt's Administrative Court suspended the temporary duties in July, prompting a flurry of court activity, which eventually led to the final session to discuss the matter being scheduled for...Read More
Continue...Andrew P. Napolitano, a former judge of the Superior Court of New Jersey, is the senior judicial analyst at Fox News Channel. Judge Napolitano has written seven books on the U.S. Constitution. The most recent is Suicide Pact: The Radical Expansion of Presidential Powers and the Lethal Threat to American Liberty.Read More
"As President, Bernie Sanders will boldly embrace the moral imperative of climate change and mobilize the political will necessary for a wholesale transformation of our societyContinue...Read More
Jordan Roy-Byrne, Founder of The Daily Gold shares his strategy for investing in gold stocks, especially the stronger ones that have already moved. With the rebound in gold stocks a couple days ago there is a good chance that the pullback was delayed.Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyG...Read More