Steel output at ArcelorMittal Kryvyi Rih (AMKR) in Ukraine dropped by 7.14% year-on-year in the first quarter of 2020 on the negative effects of the Covid-19 pandemic.The steelmaker produced 1.3 million tonnes of crude steel in January-March 2020, against 1.3 million tonnes in the corresponding period last year.At the same time, the volume of finished products totaled 1.2 million tonnes in the fir...Read More
Special bar quality (SBQ) steel spot prices in the United States have dropped considerably due to reports of cold-finished bar base price cuts by domestic mills, widespread discounting and declining ferrous scrap prices, Fastmarkets has learned. Swift and significant price declinesAccording to multiple sources, a domestic mill this month reduced base prices by $60 per short ton ($3 per h...Read More
Steel billet import prices in the United Arab Emirates increased over the past week, but demand remained weak after curfews were introduced in several Gulf Co-operation Council (GCC) countries, sources said on Tuesday April 14.Saudi Arabia announced a 24-hour curfew in the cities of Riyadh, Tabuk, Dammam, Dharan and Hofuf, and in the provinces of Jeddah, Taif, Qatif and Khobar, commencing on the n...Read More
Ferrous scrap prices in the Mexican steelmaking regions of Monterrey and Baj?-o were mostly unchanged week on week, but market participants anticipated a series of price cuts after the United States' monthly domestic scrap settlement for April.Some steel producers in Mexico's Baj?-o region announced a price cut of 200 pesos per tonne in scrap purchases for the ongoing week, after it became known t...Read More
Turkish deep-sea scrap import prices increased again on Tuesday April 14 because of the limited supplies coming from Europe and the United States, sources told Fastmarkets.A steel mill in the Iskenderun region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $257 per tonne, 12,000 tonnes of shredded at $262 per tonne and 3,000 tonnes of bonus at $267 per tonne cfr.Another steel mi...Read More
Turkish domestic ferrous-scrap prices have continued to increase during the week to Monday April 13, in line with rising imported steel-scrap values, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey was 1,515-1,700 lira ($224-252) per tonne on Tuesday April 14, up from 1,380-1,515 lira per tonne last week.Steel producers a...Read More
By Craig HemkeThese are dark times for The Bullion Banks. Their Fractional Reserve and Digital Derivative Pricing Scheme is in great peril as refineries, miners, and mints all shut down in response to the coronavirus pandemic. Will these Banks be able to scrounge up enough physical metal to keep their scheme afloat through June? That remains an open question. You may recall that we've been warni...Read More
Gold and gold stocks are among the highest performing assets of 2020 so far as investors seek a haven amid the coronavirus-fueled rout, and as central banks and governments around the world roll out unprecedented monetary and fiscal measures in an effort to mitigate the economic impact of the "Great Lockdown." That's the name the International Monetary Fund (IMF) has given this uncertain period,...Read More
The continuing rebound of scrap prices in the global market supported the efforts of CIS steel billet producers to achieve higher sales prices despite the limited demand resulting from the Covid-19 pandemic, Fastmarkets heard on Tuesday April 14.A cargo of Russia-origin billet was reported sold to Turkey late last week for around $368-369 per tonne cfr, equivalent to around $355 per tonne fob Blac...Read More
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APR 14, 2020 By: Steven FeldmanCEO, Gold Bullion International ( www.bullioninternational.com)CEO, Auvere ( www.auvere.com)Retired partner, Goldman SachsCurrent Wealth Management Client, Goldman Sachs Private BankAs a former partner of Goldman Sachs (GS) and current gold industry executive, it came as no surprise when dozens of customers and colleagues reached out to me this week to get my take...Read More
April 14, 2020 1. Another "golden week" is underway, and both the miners and bullion are off to a great start!2. Please click here now. Gold bullion ETF purchases are soaring. For the SPDR fund (GLD-NYSE), total tonnage has moved above the key 1000 tonnes marker. 3. With the Corona virus, here's where the rubber meets the road: No government has accumulated any savings t...Read More
By: Ira EpsteinGold market is acting very well. Some people will say that we have a shoulder-head-shoulder technical pattern:Read More
Investors who think the worst is over had better prepare for the other shoe to drop. Stocks rallied sharply last week, reflecting the egregious miscalculation not only of bulls who have yet to meet a dip they could not buy, but also of bears who evidently fear that the crazed buying binge will continue for no good reason. They should relax, since there has never been an instance where an initial...Read More
Christmas of 2019 I had advised to invest in gold and silver for Easter of 2020. Now I am asking to invest in gold and silver this Easter for Christmas of 2020. Overall gold and silver will continue to rise till Christmas. Even if the corona virus pandemic gets over and a vaccine is found (before Christmas of 2020), gold and silver will continue to rise. There is an over $40 price difference bet...Read More
Steel billet import prices in the United Arab Emirates increased over the past week, but demand remained weak after curfews were introduced in several Gulf Co-operation Council (GCC) countries, sources said on Tuesday April 14.Saudi Arabia announced a 24-hour curfew in the cities of Riyadh, Tabuk, Dammam, Dharan and Hofuf, and in the provinces of Jeddah, Taif, Qatif and Khobar, commencing on the n...Read More
China's domestic rebar prices edged up further on Tuesday April 14 amid what was described by market participants as "good and steady" demand. Eastern China (Shanghai): 3,470-3,500 yuan ($492-496) per tonne, up by 10 yuan per tonneNorthern China (Beijing): 3,410-3,440 yuan per tonne, up by 10 yuan per tonne Buyers actively procured cargoes during the day, which gave prices a slight upward pus...Read More
The contents of the report on Fiore Gold's Nevada project are reviewed by Mackie Research Capital Corp. In an April 9 research note, Mackie Research Capital Corp. analyst Stuart McDougall reported that Fiore Gold Ltd. (F:TSX.V; FIOGF:OTCQB) released a preliminary economic assessment (PEA) showing robust economics for its Gold Rock satellite gold project in Nevada.McDougall reviewed the specifics...Read More
Orvana Minerals reported it has resumed production at its mine operations in northern Spain and provided its production report for Q2/20. In a news release, multi-asset gold-copper-silver mining company Orvana Minerals Corp. (ORV:TSX) announced that "production at its Spanish operations have restarted after a temporary suspension, in compliance with the Spanish Government's Extended Lockdown Orde...Read More
Toyota Motor Corp has decided to again postpone the reopening of its automaking plants in Brazil by two months amid plunging demand and in order to prevent the Covid-19 virus from spreading among its workers, the company said on Monday April 13.Three units in S??o Paulo state are scheduled to resume activities by June 22, while another plant in a nearby region will reopen on June 24, Toyota said....Read More