Turkish steel producers continued to book deep-sea ferrous scrap cargoes for August shipments at the end of the week, sources said on Friday July 19.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 14,000 tonnes of HMS 1&2 (80:20) at $295 per tonne, 12,000 tonnes of shredded at $300 per tonne and 6,000 tonnes of bonus at $305 per tonne cfr.A steel mill in the Marmara region b...Read More

The inter-merchant spot market for UK light iron has remained flat for the fourth consecutive week due to stable market conditions, sources told Fastmarkets on Friday July 19.Fastmarkets' assessment of the price for steel scrap 5C, loose old light, domestic, inter-merchant, was ?80-100 ($100-125) per tonne on July 19, unchanged week on week.Market participants agreed that there had been no change...Read More

Physical iron ore prices rebounded on Friday July 19 amid gains in the futures markets.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $121.79 per tonne, up by $1.89 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $121.71 per tonne, up by $1.89 per tonne.Fastmarkets' index for iron ore 62% Fe low-alumina fines, cfr Qingdao: $122.81 per dry metric tonne...Read More

China's hot-rolled coil market softened on Friday July 19, but overseas buyers appear to be stepping up their purchases on expectations that export prices would stabilize or rise in the near term.DomesticEastern China (Shanghai): 3,860-3,880 yuan ($561-564) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,840-3,850 yuan per tonne, narrowing downward by 10 yuan per tonneSpot prices drop...Read More

Chinese buyers continue to procure seaborne coking coal cargoes, keeping prices in the segment supported in the face of downward pressure in the rest of the market.A cargo of premium hard coking coal was traded at around $184 per tonne cfr China, Fastmarkets learned on Friday July 19.Another cargo of a different brand in the same segment changed hands at around $180 per tonne fob Australia, source...Read More

China's rebar prices dipped on Friday July 19 after selling pressure picked up in the market. Domestic Eastern China (Shanghai): 3,960-3,990 yuan ($576-580) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,880-3,920 yuan per tonne, down 10-20 yuan per tonneSellers lowered their prices during the day in an attempt to secure more orders ahead of the weekend, sources said.A trader in Shan...Read More

Nickel's three-month price on the London Metal Exchange was lower during morning trading on Friday June 19, with the metal's weeklong price rally cooling across Asian trading hours. Nickel futures were recently seen trading around $14,745 per tonne, with volume traded lower than in recent days at some 3,900 lots exchanged as of 9.00am London time. Price action in nickel had surpassed $15,000 per t...Read More

An overview of the minor metals markets and the reasons for any price moves.Read More

The following Fastmarkets minor metals prices changed on Friday July 19:Minor metalsAntimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,950-6,150 per tonne from $5,950-6,200Bismuth 99.99% Bi min, in-whs China, yuan/tonne: 41,000-42,000 yuan per tonne from 40,500-41,500 yuanChromium alumino-thermic 99% min, in-whs Rotterdam, $/tonne: $7,350-7,600 from...Read More

An overview of the minor metals markets and the reasons for any price moves.Read More

Comments from US Federal Reserve officials overnight appeared dovish after New York Federal Reserve president John Williams stressed at the annual meeting of the Central Bank Research Association that "it is better to take preventative measures than to wait for disaster to unfold". With the market already pricing in a 25-basis-point cut in the central bank's benchmark interest rate at the Federal...Read More

Austenitic alloy steel scrap prices increased over the week to Friday July 19 following a spike in the price of nickel, sources told Fastmarkets.The London Metal Exchange three-month nickel price increased strongly throughout the week, although by Friday it had begun to retreat again. Scrap traders were conscious that the price increase was unlikely to sustain and so were buying cautiously because...Read More

Spot prices for ferrous scrap in Asia picked up some strength this week on steady demand from end users in the region.While rising prices for scrap in Turkey provided support to the region's market, weak downstream demand for steel capped the increases.Fewer Japanese scrap offers were made to the region this week because scrapyards in Japan were making their domestic market a priority over the exp...Read More

Known primarily by his nickname "Turd Ferguson," Craig Hemke is the founder and editor of the popular TF Metals Report blog and podcast, covering precious metals, the financial markets, and greater economic trends.Max Keiser is an American broadcaster and film-maker. He hosts Keiser Report, a financial program broadcast on RT. He presents a weekly show about finance and markets on London's Resonan...Read More

Hundreds of opponents of Poland's LGBT community attempted to disrupt the first ever LGBT pride parade held in the eastern Polish city of Bialystok on Saturday. According to police officials cited by local media, a number of people were detained as they tried to block the march and for allegedly using firecrackers and throwing bottles.Read More

Continue...Bill Fleckenstein is the President of Fleckenstein Capital and writes a popular column 'Contrarian Chronicles' for MSN Money as well as the daily Market Rap column for his website: Fleckenstein Capital. Bill has appeared at one time or another in virtually all financial media including Bloomberg, CNBC, The New York Times, MSN, Marketwatch, Barron's and more. Bill is a highly sought afte...Read More

What is the difference between a recession and a depression? When your neighbor loses their job, it’s a recession. When you lose your job, that’s a depression! Not funny? Do not worry, we won’t make more jokes. Instead, we’ll analyze a new, but very important and powerful recessionary indicator. We invite you to read our today’s article, which discusses the Sahm Unemp...Read More

The gold miners’ stockscontinue to rally on balance, after a major upside breakout extended their strongupleg.  That’s driving mounting interestin this recently-forsaken sector.  Withthe latest quarterly earnings season underway, traders will soon enjoy bigfundamental updates from the gold miners. They are likely to report good Q2 results, with improving operationalperfo...Read More

Egon says once undervalued and depressed silver breaks-out, the price will explode. Here's why...by Egon von Greyerz of Gold SwitzerlandCONFIDENCE AND EUPHORIA WILL TURN TO FEAR AND DESPAIRInvestors today have Hobson's Choice. But they still don't understand the options open to them.Thomas Hobson had a livery stable of 40 horses in Cambridge in the 16th-17th centuries. But customers only had a cho...Read More

Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | Android | Email | Stitcher | RSSMetals & Markets: Silver whale hunting time...by James Anderson of SD BullionSilver, at last, shows its shiny upside strength, as gold also flexed its spot price this week.The silver spot price blasted up to close the week around $16.25 oz, about a full Fed Note higher than it closed last week. Keep a...Read More