High-carbon wire rod prices in the United States have fallen due to weaker market conditions, while cold-heading quality (CHQ) wire rod defied similar downward pressure to post gains alongside higher raw material costs. Fastmarkets assessed steel wire rod (high carbon), fob mill US, at $37 per hundredweight ($740 per short ton) on Friday August 16, down by 1.3% from $37.50 per cwt one month a...Read More

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK CIN rolled over and tumbled 22.67 points or 2.1% to close at 1071.01. The Index has now fallen over 44 points in three weeks. MACD dropped 0.7 points to -4.45 points. RSI slipped 3.46 points to 33.12. If there was a positive to point out, it is that RSI went sub 30 and...Read More

Egypt's Administrative Court has once again postponed its session to discuss the country's import safeguard duties, but did not indicate any reason for the delay, Egyptian sources told Fastmarkets on Sunday August 18.The session had originally been scheduled for August 4 but was postponed to August 17. It will now be held on August 24.In April, Egypt imposed a temporary additional import duty on r...Read More

China's domestic rebar prices increased on Monday August 19 amid rising futures stimulated by plans unveiled by the central Chinese government to lower borrowing costs for companies.Domestic Eastern China (Shanghai): 3,700-3,730 yuan ($525-530) per tonne, up 30 yuan per tonneNorthern China (Beijing): 3,620-3,640 yuan per tonne, up 10 yuan per tonneChina will implement "market-oriented reform measu...Read More

The Turkish steel producers have started what was expected to be another quiet week because of the sluggish demand for finished long steel during the summer holiday period, sources said on Monday August 19.The Turkish market and those in other Middle Eastern territories were closed August 12-15 for the Islamic Eid al-Adha celebrations, and many market participants were also away for summer holiday...Read More

Domestic auto bundle (DKP-grade) scrap prices in Turkey have fallen over the past seven days because of the weak finished steel market, sources said on Monday August 19.A number of steel mills in the country have reduced their buy prices for the material by TRY20-40 ($4-8) per tonne.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,550-1,...Read More

Seaborne iron ore prices retreated on Monday August 19 amid lingering pessimism reflected by futures losses.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $88.40 per tonne, down by $1.17 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $88.78 per tonne, down by $1.17 per tonne. Fastmarkets' index for iron ore 62% Fe low-alumina fines, cfr Qingdao: $88...Read More

Import prices for steel slab in Southeast Asia and East Asia tumbled over the past week after producers accepted lower prices amid a bearish sentiment in the downstream flat steel markets, sources said on August 19.For instance, a flurry of short-selling activity has applied downward pressure to hot-rolled coil prices in Vietnam, with India-origin HRC actively trading due to sluggish demand in its...Read More

China's domestic rebar prices increased on Monday August 19 amid rising futures stimulated by plans unveiled by the central Chinese government to lower borrowing costs for companies.Domestic Eastern China (Shanghai): 3,700-3,730 yuan ($525-530) per tonne, up 30 yuan per tonneNorthern China (Beijing): 3,620-3,640 yuan per tonne, up 10 yuan per tonneChina will implement "market-oriented reform measu...Read More

StrengthsThe best performing metal this week was palladium, up 1.88 percent, despite hedge funds cutting their net bullish positions to a 10-week low. Gold bulls outnumbered the bears in the weekly Bloomberg survey of traders and analysts for a second week as the metal notches a third weekl...Read More

"A severe depression like that of 1920-21 is outside the range of probability." The Harvard Economic Society, Nov. 16, 1929 "In an economy that is overleveraged to historic proportions, economic stimuli will not do the trick." Kenneth Eade, American attorney, environmental and political activist, author political and legal thrillers, from Terror on Wall Street, a Financial Metafiction Novel; b....Read More

- Jordan Roy-Byrne CMT, MFTALast week we wrote that near-term risk in precious metals (Gold and GDX especially) was rising and a correction could begin soon. As Gold nearly reached major resistance at $1550/oz, the miners already began to correct. That negative divergence is an ominous signal for the sector in the short term.However, the good news is, at least at present, Gold remains very st...Read More

Avi GilburtSo, as the bulls pat themselves on the back for holding all the way down last year for a 20% draw down so that they can "enjoy" the rally we got in 2019, I hope they don't hurt their arms and shoulders from all their back-patting. But, they may be in for a dose of realism when they realize that the market has now been completely flat for the last twelve months.Allow me to show you a...Read More

By: Ira EpsteinGold monthly showing the breakout higher, weekly upside bias with 18 week MA nearing $1,400 with momentum up..Read More

Are rates on the Ten-Year Note finally bottoming? Quite possibly, according to technical indicators that we monitor closely. T-Notes touched a low last week of 1.47% after plummeting almost relentlessly from 3.49% last November. GDP was running at around 3% back then, and almost no one other than a few hardcore deflationists, your editor among them, saw rates on the Ten-Year falling below 2%....Read More

The talk of financial markets is about negative mortgage rates and its impact on global growth. Let's be straight, mortgage rates are linked to bond yields. Investors have the habit of factoring excess be it growth or recession. Assets prices these days are all about AI (artificial intelligence) powered momentum. Most of us make heavy losses when the investment we made starts reversing. Winners...Read More

"Don't Look Back. Something Might Be Gaining on You."MMT or the Magic Money TreeA Fundamental Change in the US/China RelationshipBone-Penetrating ExhaustionMontana and Back to Puerto RicoI am back from my 14th annual Maine fishing camp and the mood was decidedly different this year. The private event at Leen's Lodge is generally called Camp Kotok in honor of David Kotok of Cumberland Advisors w...Read More

Europe's high carbon ferro-chrome market dropped by over 4% to its lowest level in more than ten years amid weak demand, while the UG2 chrome ore index fell on aggressive bidding. European alloy price at lowest since May 2009  Chrome ore prices weaken in China  Domestic and imported alloy prices hold in China  Alloy prices hold in East Asia  US price holds amid inactivity The E...Read More

In this exclusive interview, Bob Moriarty the founder of 321 Gold and 321 Energy, sits down with Maurice Jackson of Proven and Probable to discuss a whole range of topics that are of value rich content! Bob and I will discuss address the student debt crisis, politics, global financial crisis, global reset, precious metals, and junior mining companies. Bob brought 321gold.com to the Internet almost...Read More

Axel Merk provides us with excellent insights on the insanity of the economic markets and the political turmoil influencing it. While Gold surges and signals deep problems with the economy, we get a fresh perspective on the relationship between the FED and Trump.Also discussed is the economic endgame as we witness the multi-decade long everything-bubble continue defy logic, math and traditional ec...Read More