China's hot-rolled coil prices dropped in both the spot and futures markets on Monday August 26, amid escalating trade tensions between the country and the United States.DomesticEastern China (Shanghai): 3,670-3,680 yuan ($517-519) per tonne, down 50 yuan per tonneNorthern China (Tangshan): 3,650 yuan per tonne, down 50 yuan per tonneSpot prices plunged after mills lowered their offers in the morn...Read More
The protracted economic battle between the United States and China will rewrite the rules of global trading and will not be resolved anytime soon, steel market sources in Asia told Fastmarkets."The world will wait and see who is able to gain the upper hand in the end and then follow the new rules of trading set by the winner," a major trader in China said.Market sources expect the entire ferrous s...Read More
Chinese reinforcing bar has regained full competitiveness in the Singapore import market, with offers falling to levels on par with Indian and Turkish rebar.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was at $475 per tonne for the week to Monday August 26,&...Read More
China's rebar market softened on Monday August 26 amid escalating trade friction between the country and the United States, with both sides announcing tariffs against the other's products ahead of the weekend.Domestic Eastern China (Shanghai): 3,640-3,670 yuan ($513-517) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,590-3,610 yuan per tonne, down 10-20 yuan per tonneThe Chinese gove...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, beams and other long steel products. Rebar East China, domestic, grade III 16-25mm...Read More
Seaborne iron ore prices dropped below $85 per tonne cfr again on Monday August 26 after trade tensions between China and the United States escalated over the weekend.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $84.91 per tonne, down $2.90 per tonne.62% Fe Pilbara Blend Fines, cfr Qingdao: $85.29 per tonne, down $2.90 per tonne.62% Fe low-alumina fines, cfr Qingdao: $84.32 per tonne, do...Read More
StrengthsThe best performing metal this week was silver, up 2.03 percent. Gold came in second place, up 1 percent. Inflows into ETFs backed by gold have hit 1,000 metric tons since holdings bottomed in early 2016. Bloomberg data shows that total known ETF holdings rose to 2,424.9 tons on Wednesday, which is the highest since 2013. Goldman Sachs predicts that the price of the yellow metal will cl...Read More
Seaborne iron ore concentrate continued to fetch narrower discounts last week, while the pellet market stayed soft.ConcentrateFastmarkets' weekly index for iron ore 66% Fe concentrate, cfr Qingdao was at $93.12 per tonne last Friday August 23, down $3.16 per tonne from a week earlier. The movement was based on visible market activity detailed below, which was included in the index calculation acco...Read More
David Stockman appears on "Cavuto Coast to Coast" (Aug. 26, 2019)David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and he is the author...Read More
"I don't know how much longer the markets are going to buy this."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, includi...Read More
The United States has become the poster child for why governments and central banks should never, EVER, be granted a monopoly on creating money. Gold has been the ultimate money for approximately 6,000 years and the U.S. government has proved, without a question of doubt, as to why this is so. Gold is not money do to any man-made laws. Gold is money despite man-made laws, and is a product of the v...Read More
Would you be shocked to find out that the Markets are 100% rigged - 100% of the time by computer programs? You shouldn't be! All Markets - All the Time...since the 1960's (and before!)Bix Weir has 30 years' experience in the financial industry with various fortune 500 companies. He is the creator of the "Road to Roota Theory" and his commentary is published at www.RoadtoRoota.com. Bix has dedicate...Read More
Jacob G. Hornberger is founder and president of The Future of Freedom Foundation. He was born and raised in Laredo, Texas, and received his B.A. in economics from Virginia Continue...Read More
I explain how ransomware attacks have increased across the United States by a large margin since 2017 when NSA created hacking tools were released to hackers.Read More
Former presidential candidate and US Representative Dr. Ron Paul (R-Texas), founder and chairman of the Ron Paul Institute for Freedom and Prosperity, weighs in on the escalating retaliation of the US-China trade amid a plunging Dow and what Dr. Paul calls "an unworkable situation."Dr. Ron Paul is a physician and former twelve-term congressman from Texas who ran for president in 2008. He is the au...Read More
Stephen Roach, former chairman of Morgan Stanley Asia, joins "Squawk Alley" via phone to discuss the current trade talks between the U.S. and China.Stephen S. Roach, former Chairman of Morgan Stanley Asia and the firm's chief economist, is a senior fellow at Yale University's Jackson Institute of Global Affairs and a senior lecturer at Yale's School of Management. He the author, most recently, of...Read More
Get ready for a 20 percent plus market crash. We saw it last December and we'll see it again this year according to John Grace. Fall is the season for crashes and that goes back hundreds of years. John says you need to be ready. You want to be a survivor and get to tell the story rather than being consumed by it. These are very dangerous times.Read More
We're on the precipice of a new adventure in the markets.Never before has so much data and information been available to investors around the globe.And yet, there's no consensus on what's going to happen.Continue...Read More
Are people finally beginning to wake up to the reality we are living in? According to a new poll, 70% of Americans are now angry at the entrenched political establishmentContinue...Read More
Continue...Nouriel Roubini, a professor at NYU's Stern School of Business and Chairman of Roubini Global Economics, was Senior Economist for International Affairs in the White House's Council of Economic Advisers during the Clinton Administration. He has worked for the International Monetary Fund, the US Federal Reserve, and the World Bank.Read More