Billet producers from the Commonwealth of Independent States (CIS) reduced their prices in the week ended Friday April 26 to attract buyers, and this affected the markets in most regions.But producers in other regions, such as Turkey, were not able to follow this tactic due to the strong prices in their regions for scrap raw materials.For example, Fastmarkets' daily ferrous scrap index for Norther...Read More
Steel production has stopped at the Algerian steel mill of Turkish steelmaker Tosyali after a workers' strike began on Wednesday April 24, according to local newspaper reports. Tosyali could not be reached for comment at the time of publication. "Production at Tosyali has stopped, and in the past two or three days, we have seen increased Algerian interest for wire rod imports from Italy and Spain,...Read More
If the United States places import tariffs on cars produced in Germany it could trigger an economic slowdown in Germany, corporate audit director of Czech steel distributor Ferona, Jan Moravec, said at Eurometal's Regional Meeting in Central Europe held in Prague on April 25.One of the major risks to the German steel industry is the import tariffs in the United States, Moravec said.Tariffs on impo...Read More
Tata Steel aims to produce 32 million tonnes per year of crude steel at its Indian operations by 2025, the company said.The 2025 capacity target in India would constitute the entirety of the steelmakers' global crude capacity following the planned divestment of operations in Asia and a planned joint venture of European flat steel operations with Germany's ThyssenKrupp.Of the Indian steelmaker's cu...Read More
Billet producers from the Commonwealth of Independent States (CIS) reduced their prices in the week ended Friday April 26 to attract buyers, and this affected the markets in most regions.But producers in other regions, such as Turkey, were not able to follow this tactic due to the strong prices in their regions for scrap raw materials.For example, Fastmarkets' daily ferrous scrap index for Norther...Read More
Here are five Fastmarkets MB stories you might have missed on Friday April 26 that are worth another look.The United States-Mexico-Canada Agreement (USMCA) is doomed unless President Donald Trump's administration removes Section 232 tariffs - and the threat of quotas - from steel and aluminium imported from the United States' neighbors, two trade experts said.Warrant traders are reporting an uptic...Read More
Here are five Fastmarkets MB stories you might have missed on Friday April 26 that are worth another look.The United States-Mexico-Canada Agreement (USMCA) is doomed unless President Donald Trump's administration removes Section 232 tariffs - and the threat of quotas - from steel and aluminium imported from the United States' neighbors, two trade experts said.Warrant traders are reporting an uptic...Read More
Do a better job. Bhappu said an internal RCF study looked at 107 projects that went from feasibility study through to construction and "not one came in under budget".Read More
Diamond drill core from the Sunday Lake platinum-palladium project in northern Ontario. Source: Transition Metals Corp.Transition Metals Corp. [XTM-TSXV; TNTMF-OTC] shares rallied sharply Monday April 29 after the company said it has received assay results from a previously disclosed drill program conducted by North American Palladium Ltd. [PDL-TSX; PALDF-OTC] on the Sunday Lake platinum-palladium...Read More
The Aurora Gold Mine in northwest Guyana. Source: Guyana Goldfields Inc.Guyana Goldfields Inc. [GUY-TSX; GUYFF-OTC] said Monday April 29 that it has reached a settlement with a group requisitioning shareholders that includes the company's former CEO Patrick Sheridan.The company also said it will implement a succession plan for the CEO position within the next six months. Meanwhile, Scott Caldwell...Read More
President Trump loves coal.Or at least that's what he wants you to believe.The President's support of coal has been unwavering. From the campaign trail to present day, Trump has been an extremely vocal supporter of coal."I am thinking about the miners all over this country. We're going to put the miners back to work. We are going to get those mines open. Oh, coal country. What they have done."- Do...Read More
By: Keith Weiner, Monetary MetalsWe have a postscript to our ongoing discussion of inflation. A reader pointed out that Levis 501 jeans are $39.19 on Amazon (in Keith's size Amazon advertises prices as low as $16.31, which we assume is for either a very small size that uses less fabric, or an odd size that isn't selling). Think of the enormity of this. The jeans were $50 in 1983. After 36 years...Read More
Strengths? The best performing precious metal for the week was palladium, up 2.79 percent as hedge funds boosted their net bullish positions. Despite U.S. dollar strength, gold traders and analysts returned to their majority bullish position on the yellow metal this week, acco...Read More
By: Clint SiegnerCentral bankers and politicians love inflation, but they need "bag holders" to have faith in the value of the fiat currency IOUs they hold. The trick is to avoid suddenly destroying the ephemeral confidence in currencies by printing too much too fast.Central bankers may also need to limit the options inflation wary citizens have for escaping.They are both shifty and innovative w...Read More
April 26th, 2019(S14-E693)Featured GuestsJohn Williams& Dr. Douglas Vogt.Please Listen HereLIMITED OFFER - FREE $5 IN ONEGOLD DIGITALBLOCKCHAIN EXCLUSIVELY TO GOLDSEEK.COM PATRONS! (Remember to say Goldseek Radio sent you!).John Williams of Shadowstats.com returns to the show with provisos on the domestic economy. Investors are advised to prepare for a recession as soon as the second quar...Read More
COLORADO SPRINGS, CO, April 29, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Gold Resource Corporation (NYSE American: GORO) (the "Company") reports first gold production from Isabella Pearl in its Nevada Mining Unit ahead of schedule. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned...Read More
By: David Chapman The market keeps chugging higher. Well, maybe chugging is not quite the right word as this past week's markets were decidedly mixed. Decent earnings and a Q1 advance GDP growth of 3.2% year over year, coupled with low inflation, did the trick. The S&P 500 gained 1.2% on the week and closed at a record high although the index did not actually make a new all-time high, falling...Read More
By: David HaggithYou may be worried my prediction that a recession will start sometime this summer is not looking too good. So was I after first-quarter corporate earnings started coming in better than what economists expected. Except that barely "beating expectations" is kind of pathetic when expectations are dumbed down as far as they were.(Note that I have also stated each time I repeat thi...Read More
Dear Friend of GATA and Gold:While the former member of the U.S. Commodity Futures Trading Commission, Bart Chilton, disappointed some monetary metals investors, he was a hero to GATA for several reasons.First, he forced the commission to take public testimony from GATA Chairman Bill Murphy and GATA Director Adrian Douglas at the commission's much-publicized hearing on the monetary metals market...Read More