European buyers of hot-rolled coil expected that domestic prices would slide due to the current poor demand, sources told Fastmarkets in Thursday April 23.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?447.00 ($484.68) per tonne on Thursday, up by only ?,?2 per tonne day on day from ?,?445.00 per tonne on April 22.Official offers have been heard at ?,?455-465...Read More
China's domestic hot-rolled coil prices were largely stable on Thursday April 23 despite falling futures. Some exporters have become more optimistic about overseas prospects amid reports of an easing of a lockdown in Vietnam to contain the Covid-19 virus.DomesticEastern China (Shanghai): 3,300-3,320 yuan ($466-469) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tangshan): 3,240 yu...Read More
Demand for imported steel billet and domestic rebar in Egypt was soft in the week ended Thursday April 23 and was unlikely to improve in the short term because of the start of the Islamic holy month of Ramadan, as well as the Covid-19 pandemic, sources have told Fastmarkets.No new billet deals have been heard since April 12, when the Egyptian ministry of trade postponed the reduction of the duty i...Read More
China's domestic rebar prices moved up slightly on Thursday April 23, supported by falling stocks in the spot market. Eastern China (Shanghai): 3,440-3,470 yuan ($487-471) per tonne, up 10-20 yuan per tonneNorthern China (Beijing): 3,430-3,470 yuan per tonne, widened upward by 10 yuan per tonneRebar prices rose slightly due to reduced inventories. A trader in eastern China...Read More
The range of offers for rebar and wire rod exports from the Commonwealth of Independent States (CIS) region has widened so far in the second half of April.Rebar offers from the CIS have varied widely, but have stayed within the range of $380-410 per tonne fob Black Sea.Some mills are keeping their offers on the lower side to attract customers, while others - mainly from Russia,...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 23 that are worth another look.Anglo American has lowered the 2020 production guidance for its Kumba iron ore operations to 37-39 million tonnes, down from a previous guidance of 41.5-42.5 million tonnes, due to the lockdown in South Africa, the miner said on April 23.South Africa is to end its nationwide lockdown and ease r...Read More
Turkish steel mills extended their absence from the deep-sea scrap markets due to a public holiday in the country on Thursday April 23, keeping any possible trading opportunities on hold.Thursday marked the National Sovereignty and Children's Day public holiday in Turkey, with most people in the country away from work. In addition to this, the country has imposed a lockdown from April 23 to April...Read More
Prices for deep-sea bulk cargoes of ferrous scrap in Bangladesh have stayed largely flat over the past week amid a continued standoff between mills and suppliers, sources said on Thursday April 23.More stability in the Turkish import scrap market, a plunge in the price of crude oil and the continuation of Covid-19 pandemic lockdown restrictions in Bangladesh were three reasons highlighted by marke...Read More
Demand for imported steel billet and domestic rebar in Egypt was soft in the week ended Thursday April 23 and was unlikely to improve in the short term because of the start of the Islamic holy month of Ramadan, as well as the Covid-19 pandemic, sources have told Fastmarkets.No new billet deals have been heard since April 12, when the Egyptian ministry of trade postponed the reduction of the duty i...Read More
China's domestic rebar prices moved up slightly on Thursday April 23, supported by falling stocks in the spot market. Eastern China (Shanghai): 3,440-3,470 yuan ($487-471) per tonne, up 10-20 yuan per tonneNorthern China (Beijing): 3,430-3,470 yuan per tonne, widened upward by 10 yuan per tonneRebar prices rose slightly due to reduced inventories. A trader in eastern China...Read More
China's domestic and export prices for stainless steel moved up amid rising raw material costs.Rising nickel futures on the London Metal Exchange led to an increase in the prices for nickel pig iron, a major raw material for producing stainless steel in China, sources said. The three-month nickel contract on the London Metal Exchange ended the official trading session on Monday at $12,334 per tonn...Read More
Chris has been frequently critical of our leaders' bungled responses throughout the coronavirus pandemic. So today he turns the tables on himself and asks: Well, what would *I* do if I were in charge? He walks through the major policies he would embrace to address both the health and economic crises we're currently dealing with. Everything from resourcing the national covid-19 response, to keeping...Read More
Jason Burack of Wall St for Main St interviewed one of the most respected China experts among financial professionals, Managing principal and Chief Strategist at Macrolens, LLC https://macrolens.com/, Brian McCarthy. Brian's superb Real Vision TV interview recorded in November 2019 about the Chinese economy has almost 300k views on Real Vision TV's YouTube channel. Watch the interview here: https:...Read More
SBTV's latest guest Rick Rule, President & CEO of Sprott USA Holdings, believes that individuals should 'reset' themselves to become antifragile during such times of fragility and shares a ton of gold and silver knowledge that should not be missed.Discussed in this interview:02:05 Coping and making sense of a world changed by a pandemic06:08 Is this the pin that burst the debt-fueled Everything Bu...Read More
Craig Hemke and I have been warning you for many years that we would one day arrive at this point and here we are. $6 trillion in stimulus, oil trading at negative prices, people locked down in their homes and the global economy in shambles. 2008-09 was a dry run for what we are facing today. Gold stocks like Newmont and Barrack may be the only stocks with increased earnings. Perhaps mining compan...Read More
Harry Dent is a Fortune 100 consultant, new venture investor, noted speaker, bestselling author, and the founder and senior editor at Dent Research, where he dedicates himself to identifying and studying demographic, technological, and geopolitical trends. He has a free daily newsletter at www.harrydent.com called "Survive and Prosper." Mr. Dent accurately predicted Japan's collapse in 1989, the d...Read More
With moving higher and GDX breaking out it is important to consider what US markets are doing as well. The gold stocks and US markets are still positively correlated but the gold stocks are far outperforming recently. Jordan Roy-Byrne joins me to share his thoughts on the charts for gold and gold stocks as well as the comparison to US markets. We also dive into the balance between the major and ju...Read More
In this episode of the Keiser Report, Max and Stacy look at how the 'everything bubble,' which has ballooned since the Fed began printing money with reckless abandon after the last crash, has become the almost everything bailout as cronies and insiders receive trillions in credit from the Fed and bailout funds meant for 'small businesses.' In the second half, Max interviews entrepreneur and former...Read More
Even though we're all working from home these days, we at ITM are a team and a family. We meet weekly to discuss what going on and, for me, the consultants give me feedback on what our clients are saying and asking. What keeps coming up is that people are afraid and not just of the coronavirus, they're afraid to open their investment statements and even more afraid to talk to their stockbroker or...Read More