Domestic prices for cold-rolled coil in Southern Europe fell this week due to slow trading activity, sources told Metal Bulletin on Wednesday May 9.The Southern European market remained in 'wait-and-see' mode with participants waiting for a final decision from the United States about its Section 232 import tariffs and an expected announcement related to a safeguard case in the EU, sources sai...Read More

By Frank HolmesGold was up half a percent year-to-date through last Friday. This doesn't sound very exciting, but over the same period, the S&P 500 Index was in the red the first time in nearly a decade that stocks have been negative for the year through the beginning of May. The yellow metal is doing the one thing for which many investors have it in their portfolio namely, it's trading inversel...Read More

Gregory Mannarino started his financial career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. He is an active trader of the capital markets and has published several books pertaining to finance, global economics, and equity trading; His most recent book is titled Ultimate Guide To Money and The Markets (free ebook). Gregory currently hosts a b...Read More

Domestic prices for hot-rolled coil (HRC) in the EU have been largely unchanged over the past week, with buyers showing reduced interest in imported material, sources told Metal Bulletin on Wednesday May 9."Buyers are cautious when it comes to buying imported coil, because there are rumors that the EC will impose preliminary measures in a safeguard case within several weeks," a Southern European s...Read More

The Bank for International Settlements has just published, on the same day, its monthly statement of account for March 2018 as well as its monthly statement for April 2018:https://www.bis.org/banking/balsheet/statofacc180331.pdfhttps://www.bis.org/banking/balsheet/statofacc180430.pdfFrom these statements it is possible to deduce that during March the BIS reduced by about 165 tonnes its use of go...Read More

A while back, a writer (whose name and story details I unfortunately don't remember) was researching the credit card business and tried to figure out how card Continue...Read More

SD Midweek: With crude oil above $71, a dollar that looks tired, and a silver price that doesn't want to budge, things are about to get very interesting...I put the tight range back onto the silver chart:It really is amazing just how much control the cartel has to keep silver between $16.40 and $16.60.Notice the volume is starting to fade. Trading volume is starting to look like it did coming off...Read More

Latin American steelmaker Gerdau sees the results of the Section 232 investigations of steel imports into the United States as being "positive" for the company, chief executive officer Gustavo Werneck has said."From the Gerdau North America perspective, the quotas [imposed by the US government after the conclusion of the process] will contribute to reducing imports and increasing the company's uti...Read More

The Dollar Index has rallied for three weeks without a significant correction, raising the odds that April's 89.23 low could turn out to be a very important one. Notice as well that the dollar's romp has exceeded numerous prior peaks, including no fewer than one 'internal' and two 'externals' labeled in the chart. From a 'Hidden Pivot' perspective, this defines the rally as a powerful 'impulse l...Read More

Gold now has limited downside (20%) but substantial upside (650%)Gains on gold are likely to come at a time when stocks are crashingInvestors and savers without an allocation to gold will be wiped outTime to consider saving in physical gold? Editors noteby James Rickards, Daily ReckoningFollowing the Panic of 1907, John Pierpont Morgan was called to testify before Congress in 1912 on the subject...Read More

Tata Steel Europe has begun to seek potential buyers for its non-core business units so as to strengthen its forecast for the steel strip business, the company said on Tuesday May 8.The sale process will include five business units.The first is Cogent, a manufacturer and processor of electrical steels. It has three assets, at Newport in South Wales in the UK, at Burlington in Ontario in Canada, an...Read More

"San Diego has asked us to go forward with their section of the wall in California and rather than not doing that and letting them lobby for us with Governor Brown we decided to do it," Continue...Read More

CLICK ON CHART TO ENLARGE This chart looks at the Gold/US Dollar ratio over the past 7-years. Gold bulls want to see this ratio heading up and they get disappointing news when it falls in price.Since 2011, the ratio started creating falling channel (1) and broke below it back in 2013. The rally that started back in 2016, saw the ratio make an attempt to climb back into falling channel (1) at (2...Read More

"If Iran acquires nuclear capability we will do everything we can to do the same."Continue...Read More

Domestic prices for mesh-quality wire rod produced and delivered in both Northern and Southern Europe remained unchanged this week because of the low levels of market activity, sources said on Wednesday May 9.Public holidays in several European countries this week have contributed to the drop in activity.The Southern European domestic price for mesh-quality wire rod was ?,?525-550 ($624-654) per.....Read More

Turkish steel producers stayed out of the market on Wednesday May 9, with no deep-sea transactions reported amid holidays in Russia and Ukraine, sources told Metal Bulletin.The Ukrainian and Russian markets were closed for Victory Day holidays on Wednesday.Market participants nonetheless said that Baltic Sea-origin HMS 1&2 (80:20) will be about $357 per tonne and $360 per tonne cfr&...Read More

The company said Wednesday the 90% gold recovery had been indicated from leaching test work, with recoveries of up to 97% reported from some tests.Read More

Gold once again bounced off the very important 200-day SMA and has now recovered a major part of itsContinue...Read More

Seaborne iron ore trading activity increased on Wednesday May 9, with lower fixed prices but steadier premiums.Metal Bulletin 62% Fe Iron Ore Index: $66.46 per tonne cfr Qingdao, down by $0.34 per tonne Metal Bulletin 58% Fe Premium Index: $54.29 per tonne cfr Qingdao, down by $1.25 per tonne Metal Bulletin 65% Fe Iron Ore Index: $85.20 per tonne cfr Qingdao, unchangedMetal Bulletin 62% Fe China P...Read More

The copper, zinc and gold miner has taken on Hatch because of his investment banking experience. An engineer by trade, Hatch has also worked at RBS and ING. Vast chairman Brian Moritz said he would be a strong addition to the current five-person board. "We are very pleased to welcome Nick to the Board and believe his experience and technical insight will assist Vast as we develop ou...Read More