Iranian steel billet export prices fell by $5-10 per tonne over the week ended Wednesday February 7 with deals being reported at the lower prices.Metal Bulletin's weekly price assessment for Iranian billet exports was $485-495 per tonne fob on February 7, against $489-505 per tonne fob a week earlier.Market participants reported a cargo of Khouzestan Steel billet being sold at $485 per tonne fob o...Read More

By Mike MaloneyIn this video, Mike Maloney gives an update on the recent market volatility.Watch Mike's "Things to Come in 2018" video for his full forecast of the year ahead. Read More

"I don't think this equity-market correction is big enough yet to Continue...Read More

China's domestic rebar prices edged up further on Wednesday February 7 despite softening demand. Domestic Eastern China (Shanghai): 3,890-3,940 yuan ($619-627) per tonne, narrowed upward by 10 yuan per tonneNorthern China (Beijing): 3,950-3,990 yuan per tonne, up 10 yuan per tonneTraders kept raising their offers bit by bit during the day gauge how much higher buyers were willing to pay. Very few...Read More

The price of no asset can move up or down in a straight line, so why should mining stocks be any different? They have been declining relentlessly for almost 2 weeks, erasing more than 10% of their value. Sharp? Definitely. Unsustainable? Perhaps. When will the turnaround take place? It depends. It depends on the bullish signs and confirmations that we get. The correct question to be asking now...Read More

"At a time of heightened geopolitical risk and negative/low real rates, investors continued to focus on gold's wealth preservation roleContinue...Read More

By JP Koninghttps://www.bullionstar.com/This blog post is a guest post on BullionStar's Blog by the renowned blogger JP Koning who will be writing about monetary economics, central banking and gold. BullionStar does not endorse or oppose the opinions presented but encourage a healthy debate. Would it make sense to rebuild an international gold standard like the one we had in the late 1800s?...Read More

By Frank HolmesMonday's monster stock selloff is exhibit A for why I frequently recommend a 10 percent weighting in gold, with 5 percent in bullion and jewelry, the other 5 percent in high-quality gold stocks, mutual funds and ETFs.What began on Friday after the positive wage growth report extended into Monday, with all major averages dipping into negative territory for the year. The Dow Jones I...Read More

The sluggish hollow steel sections markets in Northern Europe must achieve higher prices or else tube producers will see their margins be eroded by stronger costs for hot-rolled coil (HRC), market sources have warned.A fresh increase of ?,?10-20 per tonne in the price of Northern Europe-origin hot-rolled coil (HRC) on Wednesday February 7 leaves tube mills with thin margins when transforming the m...Read More

- Bitcoin falls from $20,000 to below $6,000 and bounces back to $8000- Top 50 crypto currencies lost over 50% of value in 24 hours- Over $60 billion wiped off entire crypto currency market in 24 hours- Markets concerned about increased regulation, manipulation & country-wide bans- 'Growing global unease about risks virtual currencies pose to investors and financial system' - SEC- Gold acting...Read More

Automotive production in Mexico increased by 19.80% year-on-year in January, according to figures released by the country's automobile association, Amia, on Wednesday February 7.Output reached 349,414 units, compared with 291,754 vehicles in the corresponding month a year before.This positive result was mainly driven by higher demand from export markets. Exports of Mexican cars totaled 231,088...Read More

The former chief executive officer of Rio Tinto defended himself against fraud allegations made in a civil lawsuit and said he has always operated within the bounds of transparency and strong ethics. During an interview with Metal Bulletin on stage at the annual Mining Indaba in Cape Town, Tom Albanese made his first public statement on allegations that he, a former colleague and Rio Tinto deliber...Read More

The heads of mining companies should not be complacent about higher prices and need to continue to run their operations as efficiently as possible, the chief executive officer of Konkola Copper Mines (KCM) told Metal Bulletin. Steve Din said during an interview on the sidelines of the Mining Indaba conference in Cape Town, South Africa that the mining sector must avoid a tendency to become exubera...Read More

Domestic prices in Europe for hot-rolled coil (HRC) increased again this week and steelmakers have already made attempts to raise their offers further, sources told Metal Bulletin.The upward trend settled in the EU coil market has been supported by a combination of low availability of domestic material in Italy and the effects of trade defense measures in the region.Sources of imported HRC have be...Read More

(IDEX Online) - De Beers may investigate mining opportunities in Zimbabwe and in the Democratic Republic of Congo following the resumption of exploration for diamonds in South Africa's Northern Cape.   "I'm excited about what I'm seeing in Zimbabwe," Phillip Barton (pictured above), chief executive officer of De Beers' South African unit, told Bloomberg News. "If we get licenses, we would hav...Read More

RAPAPORT... Consumers plan to spend $19.6 billion on gifts thisValentine's Day, with jewelry topping the list at $4.7 billion. A survey by the National Retail Federation (NRF) showed a 3%rise in the amount consumers intend to lay out on their loved ones over the holiday. Otheritems on the list were an evening out at $3.7 billion, flowers at $2 billion,$1.9 billion for clothing and $1.8 billion for...Read More

Prices for European domestic beams have fallen for the first time in 11 weeks after market participants slowed down their purchasing activities, market sources told Metal Bulletin on Wednesday February 7.The market hesitated because stockholders stopping buying amid the recent decrease in scrap prices and the wintry weather across Europe, one Northern European producer source said."At the end of J...Read More

(IDEX Online) - The Israel Diamond Exchange (IDE) officially launched its new innovation center, Diamond Tech, on the second day of the 7th International Diamond Week (IDWI).   The technological incubator, located within the IDE complex, will host and support diamond related start-ups in a variety of fields, the IDE said.   Through this initiative, IDE will promote new technologies that...Read More

RAPAPORT... The Gemological Institute of America (GIA) has appointedDuncan Pay as vice president and chief academic officer. Pay (pictured) will take charge of global education courses in gemology and jewelry design and manufacturing. He will replace senior vice presidentand chief learning officer Bev Hori, who will retire from the position in May.  "I am immensely pleased that Duncan has tak...Read More

(IDEX Online) - Stargems Group, one of the UAE's leading international diamond companies, in collaboration with SACIM SARL (Anhui-Congo Mining Investment Company) tendered 641,962 carats of high-quality rough in the Emirate.   Stargems has decided to expand into the diamond tendering business as the company envisions huge potential due to the growing diamond trade in Dubai, it said.   M...Read More