Turkish domestic scrap prices have continued to rise in line with strong finished steel values and the weakening of the Turkish lira, sources said on Monday March 19.Metal Bulletin's weekly price assessment for domestic auto bundle scrap (DKP grade) in Turkey on Monday was TRY1,300-1,520 ($331-387) per tonne delivered, up from last week's TRY1,260-1,420 per tonne.The upward movement in the assessm...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
Has the tech stock romp turned into a stomp? Tech stocks are sinking. Facebook has been called out by Snowden as a surveillance site masquerading as a social network. It's good to be liked, isn't it? Hecla mining just made a major acquisition, a bullish trend is starting. More junior acquisitions on the way. John Rubino is the founder and manager of the popular financial website DollarCollapse.co...Read More
Iron ore prices tumbled on Monday March 19 following big losses in China's steel and futures markets.Metal Bulletin's 62% Fe Iron Ore Index Today: $67.45 per tonne cfr QingdaoDaily change: down by $2.39 per tonneMonth-to-date average: $73.13 per tonneMetal Bulletin's 58% Fe Premium Index Today: $54.58 per tonne cfr QingdaoDaily change: down by $2.33 per...Read More
Toys R Us just joined the unenviable list of top retail failures of the past decade: Circuit City, Linens-N-Things, A&P (the Great Atlantic & Pacific Tea Company), Sports Authority, and Radio Shack (whose downfall we called in 2016).Continue...Read More
SHANGHAI, Mar 19 (SMM) – Nonferrous metals remained weak today but inched up as the market closed. SHFE copper fell 1%, lead and nickel dipped nearly 1%, and zinc edged down. Aluminium remained flat while tin inched up.The ferrous complex fell across the board as iron ore led the slump and closed 4.5% lower. Coke and rebar lost over 2%, hot-rolled coil fell 1.5%, and coking coal ed...Read More
Several deals were heard secured early last week, after which buying activity in the CIS export billet market faded with downward sentiment starting to spread while prices fell in China."The market got frozen recently [and] people are watching Chinese prices falling significantly," an international trading source told Metal Bulletin.Metal Bulletin's export CIS Billet Index remained largely unchang...Read More
Continue...Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a global investment firm and one of the world's largest bond funds in the world. Dr. El-Erian also served as a member of the faculty of Harvard Business School. Before joining PIMCO, Dr. El-Erian was a managing director at...Read More
Strong global economic fundamentals can limit the rise of gold and silver. Whenever the focus moves away from global economic fundamentals like a Russia-UK/US spat etc. gold and silver will rise. Gold and silver will zoom if there is any clear indication of three interest rate hikes by the Federal Reserve (two after this week's hike). I am hyper bullish in gold and silver on or after July. There...Read More
President Trump's recent cabinet shake-up looks to be a real boost to hard-line militarism and neo-conservatism. If his nominees to head the State Department and CIA are confirmed, we may well have moved closer to war.Before being chosen by Trump to head up the CIA, Secretary of State nominee Mike Pompeo was one of the most pro-war Members of Congress. He has been militantly hostile toward Iran,...Read More
Local rebar and import billet prices in Egypt increased again this week because of strong demand.Beshay Steel began offering rebar at E ?12,996 ($738) per tonne ex-works on Saturday March 17, up from the E ?12,768 per tonne ex-works announced on March 8.The country's...Read More
China's rebar prices fell in both the domestic and export markets on Monday March 19 amid declining futures and weak demand. Domestic Eastern China (Shanghai): 3,730-3,800 yuan ($589-600) per tonne, down 50-60 yuan per tonne Northern China (Beijing): 3,870-3,900 yuan per tonne, down 30 yuan per tonne Rebar futures fell sharply in the first few minutes of trading, which led to a deterioration of se...Read More
SHANGHAI, Mar 19 (SMM)? 1/4 ?China's refined copper output stood at 1.48 million mt in the first two months of this year, according to data from the Chinese customs. Iron ore production during the two-month period amounted to 123.46 million mt, down 2.5% year on year; lead production stood at 845,000 mt, up 16.1% year on year; and zinc output was 957,000 mt, up 2.5% fr...Read More
"When the full extent of your venality, moral turpitude, and political corruption becomes known, you will take your rightful place as a disgraced demagogue in the Continue...Read More
RAPAPORT...Phillips is set to open a showroom in Hong Kong, reinforcingits commitment to the Asian market. The new space, the auction house's first gallery in Asia,will host regular displays, auction previews, private sales and otherevents, to be led by "Hong Kong. Spotlight. Now.," an exhibition featuring various product types. The show is scheduled to launch on March 26, to coincidewi...Read More
The Chinese ferro-silicon spot market has stabilized losses in the past week, with support coming from magnesium production - a sizeable consumer of ferro-silicon. Chinese spot market halts downward drift but ample supply may drag in near term Europe prices stable, awaits second quarter settlements US market eases, but low stock levels offer support Chinese prices steady Chinese domes...Read More
"One of our core strengths is operating high-grade, narrow-vein underground mines, and Klondex's three operating mines - Fire Creek, Midas and Hollister - are some of theContinue...Read More
SHANGHAI, Mar 19 (SMM)? 1/4 ?Spot copper in the Shanghai market was offered at a discount of 260-220 yuan/mt on the morning of Monday March 19, SMM learned. This compared with discounts of 290-250 yuan/mt last Friday morning. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service.en...Read More
JOHANNESBURG (miningweekly.com) - TSX-listed Mountain Province Diamonds has signed a nonbinding memorandum of understanding (MoU) with De Beers Canada, its partner in the Gahcho Kué mine, to potentially incorporate properties owned by Kennady Diamonds into the Gahcho Kué joint venture (JV).Mountain Province is acquiring Kennady, which owns the Kennady North diamond project adjacent t...Read More