Prices for hollow steel sections moved down across Europe over the past week, despite trading activity continuing, sources told Fastmarkets on Wednesday March 25.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?595-620 ($643-670) per tonne on Wednesday, down from ?,?600-630 per tonne one week previous."We are still working and are trying...Read More

The price of steel mesh-quality wire rod in the European domestic markets was unchanged this week with trading activity reported close to zero due to coronavirus (2019-nCoV) concerns, sources told Fastmarkets on Wednesday March 25.Trading stalled in Italy this week, following the new measures to combat the Covid-2019 pandemic introduced by the authorities.The Italian government issued a new decree...Read More

Steel rebar prices in Northern Europe have increased on limited availability, triggered by tightened quarantine measures in Italy and high transportation costs, while trading was reported to be slowing down with the 2019-nCoV coronavirus pandemic clouding the markets, sources told Fastmarkets on Wednesday March 25.Rebar prices in the region were heard at higher levels compared with last week due t...Read More

The global spread of the novel coronavirus (2019-nCoV) is seriously limiting deep-sea scrap trading in Turkey, with market players also struggling with mill closures, sources said on Wednesday March 25.A number of steel mills in Turkey have stopped or reduced production because of the pandemic. "I heard a steel mill in the Iskenderun region halted production and two steel mills in the Izmir region...Read More

Export prices for Japanese ferrous scrap continued to fall over the week to Wednesday March 25, but tighter supply offered some support to prices for Shindachi busheling, market sources have told Fastmarkets.Japanese scrap traders expected difficulties in procuring Shindachi material in the short term after carmaker Toyota closed several production lines for 3-9 days from Wednesday. And fellow car...Read More

National lockdowns in India and South Africa raised concerns about supply in the seaborne iron ore market on Wednesday March 25 and caused prices to rise for two consecutive days after a massive drop on Monday. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $87.34 per tonne, up $3.37 per tonne 62% Fe low-alumina fines, cfr Qingdao: $88.82 per tonne, up $3.32 per tonne 58% Fe fines high-gr...Read More

The Iranian export market for steel billet was largely inactive in the week to Wednesday March 25, with a sharp drop seen in demand both in the domestic market and most export outlets, Fastmarkets has heard.The decline in demand was a result of the time given to celebrations of the Iranian new year on March 20-23, and a state of semi-lockdown announced in the country for the next two weeks due to...Read More

Small, induction furnace mills producing secondary billet and rebar in India have started shutting down their meltshops amid the lockdown mandated by prime minister Narendra Modi on March 24 to control the spread of the novel coronavirus (2019-nCoV)."I have received notification from some of these mills that they will stop production," a steel trader handling Indian cargoes said on March 25.Howeve...Read More

China's domestic rebar prices regained some strength on Wednesday March 25 on a pick-up in buying activity amid rising futures. Eastern China (Shanghai): 3,470-3,500 yuan ($491-495) per tonne, up 20 yuan per tonne Northern China (Beijing): 3,380-3,400 yuan per tonne, narrowed upward by 20 yuan per tonne A trader in eastern China said his sales volume during the day was about a third higher th...Read More

The trading of metals into India is likely to be severely affected by difficulties in opening letters of credit (LCs) now that the country is locked down to contain the spread of the novel coronavirus (2019-nCoV), sources told Fastmarkets on Wednesday March 25.The Indian government imposed the 21-day nationwide lockdown beginning Wednesday, which includes strict curfew measures on the country's 1....Read More

The market crashes from the pandemic has shown that some assets are "fake" said best-selling author Robert Kiyosaki, as "manipulated" assets are finally showing the American public how corrupt the capitalist system is."The good thing is, people as they sit in quarantine, as they lose their jobs, their homes, their pensions, their businesses and all this, I think they're waking up at [the fact that...Read More

TOPICS IN THIS INTERVIEW:2:25 - This calamity was brought on by a fragile infrastructure...5:25 - The Fed didn't learn anything from 2008.8:25- Trillions of dollars worth of buying happening in 10 days.17:55- Response to Covid 1919:50 Capitalism doesn't have a death wish23:25 Boeing handouts or hands chopped off momentDavid Stockman is a former Republican congressman from Michigan and was Presiden...Read More

The Dow had the biggest rally today since 1933 during the Great Depression.Physical gold market is selling out of inventory.Stimulus package dragging on as Democrats pack in the porkbarrel.The digital dollar is coming.Pandora's box has been opened on landlords.Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his...Read More

"The smart money is seeing the fake money being printed, and they are going into gold. Now hear this. Just like the crummy, slimy politicians going after your Constitutional rights and Bill of Rights, they are going to go after your gold. They did it in the last Great Depression, and they are going to do it in the Greatest Depression. You mark my words."Gerald Celente is a pioneer trend strategist...Read More

To Watch Update #55, CLICK HEREGovernments around the world are struggling to answer: What's the bigger priority, saving lives or the economy? Lots of strong opinions on both sides and not lot a lot of agreement (yet). China-style lockdowns are hard for most leaders to swallow, as they result in gut-wrentching economic losses, mass job layoffs, and supply shortages. But keeping people at work or r...Read More

John Rubino believes it is now time to buy gold before the dollar value falls.John Rubino is the founder and manager of the popular financial website DollarCollapse.com. Mr. Rubino is the co-author, with GoldMoney's James Turk, of The Money Bubble and The Collapse of the Dollar and How to Profit from It. He spent the 1980's on Wall Street as a Eurodollar trader, equity analyst and junk bond analys...Read More

"It's really much closer to a major snowstorm or a natural disaster than it is to a classic 1930s-style depression."Continue...Read More

"To save India and every Indian, there will be a total ban on venturing out," Modi said Tuesday.Continue...Read More

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 Cured Itself. Grant's television appearances include "60 Minutes," "The Charlie Rose Show," Bloomberg TV, CNBC and other well-known financial news sources. His j...Read More

NOTE: The vote on the bill has been delayed, but it's coming (I only just saw that after I finished recording) Six Trillion Lies - the latest plan to 'save the US economy' sounds great to most people at first glance, but as Mike Maloney explains in today's update - when you take a look under the hood of the economy, the original parts just aren't there any longer. Buyer beware. How did this happen...Read More