Domestic prices for steel hot-rolled coil continued to recover in Northern Europe in the week ended Friday July 24, although at a slower pace due to the start of the seasonal market slowdown.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?408.21 ($475.69) per tonne on Friday, up by ?,?0.68 per tonne week on week and by ?,?13.84 per tonne month on...Read More
Here are five Fastmarkets stories you might have missed on Monday July 27 that are worth another look.No spot trading was heard for imported rebar into Singapore in the week to July 27, due to high inventory levels and weak downstream demand, market sources told Fastmarkets.Will a call via social media...Read More
Brazilian apparent steel consumption is set to fall by 14.4% in 2020 as first-half figures were largely affected by restrictions put in place to limit the spread of the Covid-19 pandemic, the national steelmakers' association, Instituto A??o Brasil, said on Monday July 27.Consumption is expected to total 17.96 million tonnes this year, compared with 20.98 million tonnes in 2019, the association st...Read More
Finished steel import volumes into the United States again dropped both month on month and year on year in June, reflecting a lack of interest in foreign products due to weak steel market fundamentals.US finished steel imports totaled 1.3 million tonnes in June, down by 22.8% from 1.6 million tonnes in May and down by 31.8% from 1.8 million tonnes in June 2019, according to preliminary Census data...Read More
Turkish domestic steel scrap prices have continued to increase over the past week amid rising imported scrap values, sources said on Monday July 27.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 1,720-1,975 lira ($251-288) per tonne on Monday, up from last week's 1,660-1,940 lira per tonne.The Turkish steel producers have raised their buy p...Read More
Seaborne iron ore prices were down on Monday July 27, prompted by uncertainty over the short-term outlook due to escalating political tensions between the United States and China, according to trade sources. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $107.68 per tonne, down $1.71 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $109.66 per tonne, down $1.90 per tonne. 58% Fe fines hi...Read More
The United States government has been threatening to reduce an existing quota for imports of semi-finished steel products from Brazil in 2020, national steel institute A??o Brasil said on Monday July 27.US representatives are considering the possibility of blocking the fourth quarter quota for semi-finished steel, which would prevent around 351,000 tonnes of Brazil-origin slab and billet from bein...Read More
CIS export steel slab prices continued to increase in the week to Monday July 27, supported by the revival of trading activity in the Turkish market.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $400 per tonne on July 27, up from $385-390 per tonne week on week.In the first half of last week, several cargoes of Ukrainian slab totaling 45,000 tonnes were heard...Read More
Gold and silver have now entered 'Phase 3' according to Mike Maloney. So what is it that has changed to bring us into this new environment? It is something that Mike has been expecting for some time, and is finally here: monetary demand. And as he hints towards the end of this video, 'You ain't seen nothin' yet'. Michael Maloney is a precious metals investment expert and historian. He is the found...Read More
Gregory Mannarino started his career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. After realizing that working on Wall Street was not like the movies, he moved on to get a medical degree and practiced medicine as a Physician Assistant. He also served in the United States Naval Reserve Medical Service Corps, having attained the rank of Lieute...Read More
If some Congress members get their way, the Federal Reserve may soon be able to track many of your purchases in real time and share that information with government agencies. This is just one of the problems with the proposed "digital dollar" or "fedcoin."Fedcoin was initially included in the first coronavirus spending bill. While the proposal was dropped from the final version of the bill, there...Read More
"Extend and Pretend" forevermore.Wolf Richter is the founder of Wolf Street Corp and the publisher of WolfStreet.com. Wolf has over twenty years of C-level operations experience, including turnarounds and a VC-funded startup. He has a BA, MA, and MBA (UT at Austin). In his prior life, he worked in Texas and Oklahoma, including a decade as General Manager and COO of a large Ford dealership and its...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
Topics:The road to hell is paved with good intentions.The ADA further disables the disabled.American Samoa was crippled by the Fare Wage Act.Discrimination laws create more discrimination.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...Read More
TikTok's data collection is extreme, even for a social media platform that collects its users' data to serve them with targeted ads. Continue...Read More
Why the change in attitude? Perhaps it was because rioters in his city trashed and looted the downstairs to his apartment complex.Continue...Read More
The drumbeat of polls showing Biden with a big lead over Trump is unrelenting. The RealClear Politics poll (actually an average of many different polls; a good statistical technique) shows Biden Continue...Read More
Bridgewater Associates Founder Ray Dalio spoke with "Sunday Morning Futures" host Maria Bartiromo, warning about rising geopolitical risks between the US and China and what that means for foreign currency markets. Ray Dalio is an American businessman and founder of the investment firm Bridgewater Associates, one of the world's largest hedge funds. In 2012, Dalio appeared on the annual Time 100 lis...Read More
Lynette Zang has held the position of Chief Market Analyst at ITM Trading since 2002. Ms. Zang has been in the markets on some level since 1964. Her mission is to convert financial noise into understandable language. She has been a banker, a stock broker and studied world currencies since 1987. She believes strongly that we need to be as independent as possible and at the same time, we need to com...Read More
"The fact that yields have not risen meaningfully (quite the opposite) in the very short term is quite troubling as historically such short-term movement hasContinue...Read More