Turkish deep-sea scrap import prices fell sharply for the third time in two weeks amid the Covid-19 pandemic, which has brought steel trade to a halt and led to closures or production cuts, sources said on Monday March 30.A steel mill in northern Turkey was heard booking a Baltic Sea cargo, comprising 9,000 tonnes of HMS 1&2 (80:20), 14,000 tonnes of shredded and 3,000 tonnes of bonus at an averag...Read More

Markets were looking quite mixed this morning, Monday March 30, with most Asian-Pacific equity indices down, the pre-market Dow Jones Industrial Average up by 0.2%, oil prices down by around 5% and the base metals prices mixed.Base metals face numerous cross currents with demand expected to recover in China but fall further in the world ex-China, while the Covid-19 virus and lower prices lead to s...Read More

Here are five Fastmarkets stories you might have missed on Monday March 30 that are worth another look.Gerdau has halted price increase attempts in Brazil amid market weakness because of the Covid-19 pandemic, according to a report by local investment bank Ita?? BBA from Sunday March 29.The Covid-19 pandemic has opened up financing opportunities for metals and mining-focused investment firms. It's...Read More

Domestic prices for hot-rolled coil in Northern Europe were fairly stable last week due to falls in demand and production cuts caused by the Covid-19 pandemic.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?473.00 ($526.65) per tonne on Friday March 27. This was up by ?,?3 per tonne week on week from ?,?470 per tonne on March 20.The increase did not indic...Read More

European domestic prices for hot-rolled coil have been fairly stable over the past week due to slow market activity, sources told Fastmarkets on Monday March 30.The sentiment prevailing in the market has been downward, despite that price stability.But Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?473.13 ($526.79) per tonne on Monday, up from Friday's index a...Read More

Here are five Fastmarkets stories you might have missed on Monday March 30 that are worth another look.Gerdau has halted price increase attempts in Brazil amid market weakness because of the Covid-19 pandemic, according to a report by local investment bank Ita?? BBA from Sunday March 29.The Covid-19 pandemic has opened up financing opportunities for metals and mining-focused investment firms. It's...Read More

Gerdau has halted price increase attempts in Brazil amid market weakness because of the Covid-19 pandemic, according to a report by local investment bank Ita?? BBA from Sunday March 29.The company mainly produces long steel in the country, although it also makes some hot-rolled coil and heavy plate at its Ouro Branco mill in the south-eastern state of Minas Gerais.Domestic prices are currently at...Read More

Export prices for steel rebar and wire rod from the Commonwealth of Independent States (CIS) fell sharply in the week to Monday March 30 amid the lack of demand in almost all markets due to the Covid-19 pandemic, as well as the recent dramatic drop in scrap costs."Buying interest is limited. There are almost no bids," one market source said."There are not many buyers today," another source said. "...Read More

The lockdown in India has caused a variety of logistical issues resulting in imported scrap material becoming stranded at ports and leading to potentially large charges at a time when trading has come to a sudden halt, market sources have told Fastmarkets. On March 24, Indian Prime Minister Narendra Modi announced the country would begin a 21-day lockdown period effective from midnight until...Read More

Turkish deep-sea scrap import prices fell sharply for the third time in two weeks amid the Covid-19 pandemic, which has brought steel trade to a halt and led to closures or production cuts, sources said on Monday March 30.A steel mill in northern Turkey was heard booking a Baltic Sea cargo, comprising 9,000 tonnes of HMS 1&2 (80:20), 14,000 tonnes of shredded and 3,000 tonnes of bonus at an averag...Read More

Global ferrous scrap prices continued to fall sharply in major markets during the working week from Monday March 23 to Friday March 27, because of the worsening Covid-19 pandemic.Turkish import prices slump furtherBuying prices down at US East Coast docksTaiwan import price at three-year lowIndian market collapses on lockdown order; price drops $44 per tonne.TurkeyPrices in the world's largest scr...Read More

Most of the world's markets for steel billet have been affected by the negative sentiment generated by the Covid-19 pandemic and the strong decreases in prices for ferrous scrap. Buyers in China, however, continued to import material.Import prices of ferrous scrap in Turkey continued to fall last week.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, w...Read More

Major Japanese steelmaker JFE Steel is facing the prospect of recording zero profit for the year ending March 2020 for the first time in its history due to global economic tensions and rising raw materials prices, it warned on Friday March 27.This has led the company to plan to shut one blast furnace in its East Japan Works and restructure its remaining operations in Japan, it said.In brief JFE St...Read More

China domestic rebar prices fell on Monday March 30 on pessimism over the recovery of demand in the country after its central bank cut the rate on seven-day reverse repurchase agreements by 20 basis points - the largest in nearly five years.Eastern China (Shanghai): 3,430-3,460 yuan ($483-488) per tonne, down 40 yuan per tonneNorthern China (Beijing): 3,350-3,370 yuan per tonne, down 30 yuan per t...Read More

The question everyone is asking: is the market meltdown over? If you watched nothing other than mainstream news you might be inclined to think that we have come through the storm and are ready to pick up the pieces, board the rocket ship, and launch the markets back to the stars. Mike Maloney begs to differ. Join him in this latest update as he shows why he believes we are in either a dead cat bou...Read More

Jim Grant, founder and editor of Grant's Interest Rate Observer, joins "Squawk Box" by phone to discuss the Fed's moves in the wake of the coronavirus pandemic.James "Jim" Grant is an American writer and publisher and the founder of Grant's Interest Rate Observer, a twice-monthly journal of the financial markets. He is the author , most recently, of The Forgotten Depression: 1921: The Crash That C...Read More

Mohamed El-Erian, chief economic advisor at Allianz, joins "Squawk Box" by phone to discuss the markets as well as the Fed action to try to lift the economy amid the coronavirus-driven slowdown.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...Read More

Harley Schlanger's work can be found at LaRouchePAC.com.Lior Gantz has been called a thrill-seeking entrepreneur by his team, and as such, he built and runs numerous successful businesses, and has traveled to over 30 countries in the past decade in pursuit of thrills and opportunities, gaining valuable knowledge and experience. With Wealth Research Group, Lior allows readers access into the world...Read More

The moves in the gold market during the past month have been insane. We've seen a false breakout, a crash and then a false breakdown. It all comes down to where you close the period. The fact that gold rallied back to its pre-crash peak is quite encouraging. It recovered all of its losses and got back to its previous point. Therefore, that's reason for great optimism. While the volatility has made...Read More

"His reckless disregard for human life put hundreds of people in his congregation at risk...as well as put thousands of residents who may interact with them in danger."Continue...Read More