Turkish steel producers have continued to book deep-sea scrap cargoes for September deliveries, taking advantage of falling prices, sources said on Tuesday August 27.A steel mill in the Marmara region booked a 42,000-tonne US cargo, comprising HMS 1&2 (80:20) at $270 per tonne and shredded at $275 per tonne cfr.Another steel mill in the Marmara region booked a UK cargo, comprising HMS 1&2 (80:20)...Read More
Domestic prices for auto bundle steel scrap in Turkey have increased because of the weakening value of the country's lira, but ship scrap prices have been stable, sources said on Tuesday August 27.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,580-1,770 ($272-304) per tonne on August 27, narrowing upward from last week's TRY1,550-1,770...Read More
Seaborne iron ore prices fell on Tuesday August 27, closing in on $80 per tonne cfr, amid weaker futures and steel markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $82.35 per tonne, down $2.56 per tonne. 62% Fe Pilbara Blend Fines, cfr Qingdao: $82.73 per tonne, down $2.56 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $81.07 per tonne, down $3.25 per tonne. 58...Read More
The Black Sea export market for steel slab has come under pressure from the downtrend in the finished flat steel market and the weak sentiment heard in most outlets at the end of this month, Fastmarkets heard on Tuesday August 27.Buying activity in the traditional markets of Europe and Turkey was reduced because of holiday absences among potential customers. But both markets were expected to show...Read More
Prices for steel rebar and billet in the United Arab Emirates have gone down over the past week, with demand remaining poor, sources said on Tuesday August 27.Market participants believed that demand would improve after the price stopped falling, because buyers did not want to book when the prices were still on the way down.Domestic rebarEmirates Steel is the UAE's largest producer, and was offeri...Read More
Stewart Thomson 1. A year ago, I predicted that any US stock market sell-off would be accompanied by a dramatic surge in the price of GDX an GDXJ.2. That's exactly what happened; the stock market tanked and key gold stocks soared.3. This year, I'm predicting that any major US stock market crash will again be accompanied by the soaring price of the gold producers...4....Read More
Dear Friend of GATA and Gold:The English-language edition of the Chinese government's newspaper Global Times published on Sunday a pretty dispassionate commentary attributed to the Beijing-based public policy research consultancy Anbound (http://www.anbound.com/AboutUS.php) advocating the world's return to a gold standard for currencies."From the perspective of the global financial system," the...Read More
Clint Siegner The crooked precious metals trading department at JPMorgan Chase lost another man last week. Christian Trunz pleaded guilty to criminal "spoofing" of the markets and resigned from his position as an Executive Director with the bank.The story mirrors that of John Edmonds, the Chase banker who pleaded guilty last October for rigging gold and silver prices.Like Edmonds' illicit tradin...Read More
By: Ira EpsteinGold hit the upper bolinger band and retreated yesterday, some of the pros took some off the table. Big US holiday coming too. Gold Market overbought..Read More
China's rebar prices continued to experience pressure from the country's protracted trade tensions with the United States on Tuesday August 27.Domestic Eastern China (Shanghai): 3,550-3,600 yuan ($497-504) per tonne, down 70-90 yuan per tonneNorthern China (Beijing): 3,540-3,560 yuan per tonne, down 50 yuan per tonneSimmering tensions between the world's two largest economies pushed down rebar pri...Read More
The Chinese ferro-silicon price continued to trend lower over the past week amid persistently weak domestic demand, while prices in Europe and the United States were steady in inactive spot markets. China's domestic ferro-silicon price drops on weak demand, adequate supplyExport price in China steady but vulnerableEU prices steady in quiet marketUS price flat due to inactivity Chinese ferro-s...Read More
Links to slides and sources: https://www.itmtrading.com/blog/qa-wi...Question 1. Eric M: Are corporate, high yield and international bond instruments exposed to the same risk, and are they bad investments?Question 2. Fred J: If fiat currency is not backed by gold, then why and how would those who create the fiat currency care one way or other about gold? Why should the Federal Reserve/IMF/World Ba...Read More
Maloney is a collector. He collects fine art, cars, books, music, gold, silver....and MEMES. Enjoy this 'first in series' video where Mike gives you a look at his collection of memes that highlight the stark differences between socialism and capitalism.Michael Maloney is a precious metals investment expert and historian. He is the founder and owner of GoldSilver.com, a global leader in gold and si...Read More
Rick discusses his early career lessons and how in a bull market, anyone including him can look like an expert. In the 1970s, the incorrect narrative was that the world was running out of resources. What everyone missed was that when prices rise, people learn to conserve, they become more efficient while higher prices encourage new supply. Think about the attractiveness of modern bonds where banks...Read More
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, including the Wall Street Journal, New York Times, Barron's, BusinessWee...Read More
We are now witnessing the death throes of the free market. The massive and record-breaking global debt overhang, which is now $250 trillion (330% of GDP), demands a deflationary deleveraging depression to occur; as a wave of defaults eliminates much of that untenable debt overhang. The vestiges of the free market are trying to accomplish this task, which is both healthy and necessary in the long t...Read More
"Everybody loves me, and I love everybody," Chappelle assures the audience. "I got friends who are Ls, who are Bs, and I got friends who are Gs. But the Ts hate my f**king guts."Continue...Read More
Chinese vanadium exporters continued to reduce their offer prices due to lackluster overseas buying interest in the week ended Friday August 23, while European and US markets reported thin trading amid summer mill outages. Chinese exporters reduce offers amid limited buying interest abroad. European ferro-vanadium market faces thin trading. Vanadium pentoxide suppliers in Europe raise...Read More
RV sales are crashing at a year-over-year rate of 20% below sales for the same period last year. 2017 was the peak thus far and 2018 sales were 4% lower. Hence, this year's crash Continue...Read More