A retest of the recent S&P lows and VIX highs could be in the short-term cards"Trade headlines continue to captivate market participants, with the market reacting to the various punches and counter-punches between President Donald Trump and China..."At last Monday's close, the VIX was at 24.59, or roughly double its 2019 closing low, and, in fact, doubling from the July 26 close of 12.16. I stated...Read More
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Prices in most of the global markets for steel billet softened in the week ended Friday August 23 amid poor demand and falling raw materials prices.Fastmarkets' daily index for iron ore 62% Fe fines, cfr Qingdao, was $87.81 per tonne on Friday, down by $1.76 per tonne week on week.Meanwhile, Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was $274.14...Read More
Aug. 23rd, 2019(S14-E710)Featured GuestsHarry S. Dent Jr. &Bob HoyeNote: Guest order via seniority.Please Listen HereInterview Recap:Harry S. Dent Jr. notes if bulls push the yellow metal above $1,525, $1,800 could soon follow.Gold should hold $1,000 on continued geopolitical uncertainty and profligate policymaker decisions.To eclipse the former record zenith of $1,918 from 2011, a new wave...Read More
Avi GilburtPersonally, I love trading metals and have been doing so for quite some time. In fact, the best trade of my entire career was in silver many years ago. But, the one thing that we commonly see in the complex is that when the market strikes a top, it most often spikes into and then strongly reverses at that top as a culmination signal. Thus far, I have not seen that in the metals....Read More
David HaggithIt's out of control. And I'm not even talking about the stock market, which fell off a cliff. I'm talking about the president who has deified himself. I hesitate to write strongly against Trump because I understand why many readers here voted for him, but today (Friday August-23) is a day that shall live in insanity!I understand that we need someone who is anti-establishment; but,...Read More
Gary Savage We're going to get some great opportunities in the months ahead. Metals probably have one more leg up while stocks and commodities may have a final crash into major multi year cycle lows. If you want to learn how to take advantage of these opportunities now is the time to do it before the opportunity passes you by. I watched as many, if not most of the usual analysts missed the bott...Read More
By: Ira EpsteinGold still did not take the highs from the prior week, so we will be watching this in the coming week. Read More
China and Intellectual PropertyBinary ThinkingThe Trade Deficit Is Not a ScorecardBilateral Trade Balances Whack-A-Mole?I Need a Vacation from My VacationGood news: The trade war is over. No, it's getting worse. Or maybe it is ending but it could start again tomorrow.Confused? All of the above were true at various points in the last few weeks. Markets bounced around in reaction. And we are still...Read More
The Chinese government has revived a 25% tariff on imports of US automobiles and a 5% tariff on auto parts, set to take effect on December 15, which some market participants worry could imperil future investments as well as steel and base metals demand.Chinese tariffs on US-made cars and auto parts were placed on hold in April, but the Chinese government reinstated them on Friday August 23. Beijin...Read More
The steel billet import price in Egypt fell in the week to Thursday August 22, with market activity limited because buyers want to wait until the court makes a decision on safeguard duties. Egypt's Administrative Court suspended the temporary duties in July, prompting a flurry of court activity, which eventually led to the final session to discuss the matter being scheduled for...Read More
Turkey's military pension fund, OYAK, has reached a provisional agreement to buy steelmaker British Steel, OYAK said on Friday August 16. OYAK is the biggest shareholder of Turkey's largest steel producer, Erdemir Group, and this agreement is a step toward in its goal to become a regional leader in steel sector, OYAK said. British Steel entered into compulsory liquidation in May 2019 and rece...Read More
Prices in most of the global markets for steel billet softened in the week ended Friday August 23 amid poor demand and falling raw materials prices.Fastmarkets' daily index for iron ore 62% Fe fines, cfr Qingdao, was $87.81 per tonne on Friday, down by $1.76 per tonne week on week.Meanwhile, Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was $274.14...Read More
Here are another five Fastmarkets MB stories you might have missed on Friday August 23 that are worth another look.The government of Canada has announced measures to prevent the transshipment of aluminium into the United States, building on commitments made when the US removed its Section 232 import tariffs in May.The Chinese government has revived a 25% tariff on imports of US automobiles and a 5...Read More
Aug. 23rd, 2019(S14-E710)Featured GuestsHarry S. Dent Jr. &Bob HoyeNote: Guest order via seniority.Please Listen HereInterview Recap:Harry S. Dent Jr. notes if bulls push the yellow metal above $1,525, $1,800 could soon follow.Gold should hold $1,000 on continued geopolitical uncertainty and profligate policymaker decisions.To eclipse the former record zenith of $1,918 from 2011, a new wave...Read More
Avi GilburtPersonally, I love trading metals and have been doing so for quite some time. In fact, the best trade of my entire career was in silver many years ago. But, the one thing that we commonly see in the complex is that when the market strikes a top, it most often spikes into and then strongly reverses at that top as a culmination signal. Thus far, I have not seen that in the metals....Read More
David HaggithIt's out of control. And I'm not even talking about the stock market, which fell off a cliff. I'm talking about the president who has deified himself. I hesitate to write strongly against Trump because I understand why many readers here voted for him, but today (Friday August-23) is a day that shall live in insanity!I understand that we need someone who is anti-establishment; but,...Read More
Gary Savage We're going to get some great opportunities in the months ahead. Metals probably have one more leg up while stocks and commodities may have a final crash into major multi year cycle lows. If you want to learn how to take advantage of these opportunities now is the time to do it before the opportunity passes you by. I watched as many, if not most of the usual analysts missed the bott...Read More
By: Ira EpsteinGold still did not take the highs from the prior week, so we will be watching this in the coming week. Read More