Sales of passenger cars in the EU tumbled by 55.14% year-on-year in March 2020, making it the third consecutive month to show a decline.New car sales in Europe totalled 567,308 vehicles in March 2020, down from 1,264,569 units sold in the corresponding month of 2019, the European Automotive Manufacturers Association (ACEA) said on Friday April 17."The EU passenger car market recorded a...Read More
Oil prices are the only grim mover todayAfter yesterday's roller-coaster session, Dow Jones Industrial Average (DJI) futures are poised for one last surge higher this week. There's optimism on Wall Street afterGilead Sciences' (GILD) remdesivir -- an experimental treatment for coronavirus -- is reportedly making progress, lending hope that businesses can begin to ramp up activity quicker-than-exp...Read More
Prices for flat steel in Turkey were mixed in the week to Friday April 17, with some prices moving higher and others lower, while demand improved slightly from last week, market participants said.Demand strengthened because stocks among buyers were low, Turkish sources said.Scrap prices continued to increase during the week on reduced availability. Fastmarkets' daily index for steel scrap, HMS 1&2...Read More
China's crude steel output edged up in the first quarter while finished steel production fell slightly, according to data released by National Bureau of Statistics (NBS) on Friday April 17.January-March output Crude steel: 234.45 million tonnes, up by 1.2% from a year earlier Hot metal: 199.74 million tonnes, up by 2.4% year on yearFinished steel: 267.42 million tonnes, down by 1.6%...Read More
Member mills of the China Iron & Steel Association (Cisa) raised their steel and hot-metal output rates in early April from the preceding 11 days, while the pace of decline for their finished steel inventories slowed down, according to data released on Friday April 17April 1-10 outputCrude steel: 1.95 million tonnes per day, up by 6.5%Finished steel: 1.82 million tpd, down by...Read More
Steel mills in India have kept the price for hot-rolled coil stable for April sales while starting shipments to direct users despite the nationwide lockdown intended to contain the spread of the Covid-19 pandemic."We have been using railways since late last week to transport HRC to our direct customers and to warehouses closer to the point of consumption," an official from a private sector mill sa...Read More
By Gary SavageGary Savagehttps://blog.smartmoneytrackerpremium.com/Read More
The inter-merchant spot price for light iron scrap in the United Kingdom inched up over the past week following an ongoing shortage of supply and rising global markets, sources said on Friday April 17. Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK moved up by ?5 per tonne to ?50-60($62-75) per tonne on April 17, up from ?45...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort286,61734,11633,338116,839397,247436,794464,701Change from Prior Reporting Period 6,7373,1783,517-2,0462,7518,2089,446Traders19566684954275160 Small Speculators (C) GoldSeek.com LongShortOpen Interest 53,17125,264489,965 1,7074699,915 non reportable positionsChange from the pr...Read More
By Richard (Rick) MillsImagine, if you will, there was no coronavirus. No haz-mat suits, medical masks & gloves, no make-shift morgues. No terminally ill patients hooked up to ventilators, no horrible deaths without love ones close, no lockdowns, no social distancing, no deserted streets, no bailouts, no emergency wage supplements, just a regular spring with birds chirping and flowers blooming....Read More
Steve St. Angelo, SRSrocco Report The collapse of global oil demand has impacted the price of Canadian Oil Sands to such a degree, the price of a barrel is now cheaper than a 12-pack of Coke purchased at Walmart. According to oilprice.com, the current price of a barrel of Western Canadian Select (oil sands) is $4.47 versus a 12-pack of Coke at Walmart for $5.08. What a deal... ah? Now, l...Read More
By: Ira EpsteinGold will react to Trump's new conference (just after this recording). Re-opening will be different, varying over the nation and economy. Health care near year's highs.Gold's short-term giving up gains. Swing-line down, bull's don't want to see..Read More
Focus is on how the world will move once the various nations open up. Gold and silver will break free from the recent range trade and form a new range. No need to worry. I will prefer till next week and then make decide on whether to make a new investment in gold or wait. In the short term selected stocks will give a much better return than gold. Silver should outperform gold as prices moves sho...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
Prices paid for Brazil-origin steel slab in export deals have narrowed in the week ended on Friday April 17, with recovering demand in Asia and Europe resulting in increased numbers of deals, sources said.Fastmarkets' weekly assessment of the price of steel slab, export, fob main port Brazil narrowed to $320-345 per tonne on Friday, from $310-355 per tonne a week before.New bids and orders for Bra...Read More
The Covid-19 pandemic is a unifier in that it impacts all. But sub-Saharan Africa is facing an unprecedented health and economic crisis that threatens to throw the region off its stride, reversing the development progress of recent years and hitting the mining sector hard.The mineral-rich region - which comprises 46 of the 54 countries in the continent below the Sahara - is expected to see its eco...Read More
The Covid-19 pandemic has rapidly hit global electric vehicle (EV) production and sales, and so the broadly anticipated reshuffle of China's EV battery supply chain is likely to speed up in 2020. Many already believed the EV subsidy policy in China that had been scheduled to end in December 2020 would squeeze out some companies in the EV battery supply chain, including producers of precursors, cat...Read More
The three-month zinc price on the London Metal Exchange finished strong on Friday April 17, closing at $1,958 per tonne after steadily gaining through the week.The zinc price briefly touched a high of $1,962.50 per tonne on a day that saw 5,270 lots traded. The rally in the zinc price is significant given that the galvanizing metal's price was at $1,793 per tonne on March 25.Global LME refined zin...Read More
The were declines across the complex for deliverable stocks of base metals in Shanghai Futures Exchange-approved warehouses in the week ending Friday April 17, with aluminium stocks down by 5% amid a demand recovery, Fastmarkets understands.SHFE aluminium stocks declined by 25,450 tonnes or 5% on a weekly basis to 485,802 tonnes, with the largest outflow of 7,478 tonnes coming from the Central-Chi...Read More
Is the history repeating itself here? This seems quite likely...by Przemyslaw Radomski via Sunshine ProfitsThe Subtle PMs Signals Keep Coming InThe greenback exerts powerful influence on the precious metals - that has been the case yesterday, and it unsurprisingly continues to be so also today. So, what message is the USDX sending out right now?USD Index in the SpotlightWe'll open up with a quote...Read More