With most of the country still under lockdown and COVID-19 still dominating all news, is it an appropriate time to expand the government's power to spy on its citizens?One federal judge in Maryland believes so.On Friday, U.S. District Judge Richard Bennett cleared a pilot program that would surveil Baltimore City residents using spy cameras attached to airplanes.Under the six-month pilot program u...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK CIN took a breather and pulled back 6.67 points or 0.8% to close at 844.66.MACD pulled back 11.72 points to 9.7. RSI retreated slightly, by 1.26 points, to 50.86. in the last two weeks, it has remained in a very tight range.Support moves up to 810 (20-day moving average...Read More
Here are five Fastmarkets stories you might have missed on Monday April 27 that are worth another look.The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April's monthly negotiations.The Itali...Read More
Domestic prices for hot-rolled coil in Northern Europe moved down over the week ended Friday April 24 due to limited demand and the bearish mood among buyers.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?443.13 ($479.42) per tonne on Friday, down by ?,?10.20 per tonne week on week and down by ?,?29.37 per tonne since the beginning of April.Official offers we...Read More
Turkish steelmakers have cut their capacity utilization rates to prevent the spread of Covid-19 among employees amid reduced demand for steel due to pandemic lockdown measures in the domestic and export markets.Several Turkish long steelmakers stopped production in March and April, and some of them have not yet resumed production.Maintenance breaks have reduced flat steel output in Turkey recently...Read More
Here are five Fastmarkets stories you might have missed on Monday April 27 that are worth another look.The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April's monthly negotiations.The Itali...Read More
Turkish steelmakers have cut their capacity utilization rates to prevent the spread of Covid-19 among employees amid reduced demand for steel due to pandemic lockdown measures in the domestic and export markets.Several Turkish long steelmakers stopped production in March and April, and some of them have not yet resumed production.Maintenance breaks have reduced flat steel output in Turkey recently...Read More
Trading activity in the export wire rod and rebar market in the Commonwealth of Independent States remained sluggish in the week to Monday April 27 due to the effects of lower oil prices and the global Covid-19 pandemic.Wire rod offers were largely unchanged over the week, varying within the range of $390-420 per tonne fob Black Sea depending on the supplier and destination.Ukraine-origin material...Read More
The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April's monthly negotiations.Prices on the international market have been on a rollercoaster ride over recent weeks.The price of steel scrap,...Read More
Turkish deep-sea scrap import prices dropped sharply at the start of the week on news of a fresh Baltic Sea cargo deal, sources told Fastmarkets on Monday April 27.A steel producer in the Marmara region booked a Baltic Sea cargo comprising 26,000 tonnes of HMS 1&2 (80:20) at $242 per tonne and 4,000 tonnes of bonus at $252 per tonne cfr.This compares with previous Baltic Sea deals done at $255-256...Read More
Turkish domestic scrap prices have increased over the past week amid limited supply, especially in the Marmara region, sources said on Monday April 27.At least two steel mills in the Marmara region have increased their buy prices for auto bundle scrap by 70-80 lira ($10-12) per tonne over the past week to be able to secure more material.Long and flat steel mill ??olakoglu increased its buy price f...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanChief Strategist, Enriched Investing Inc.Phone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12April 27, 2020 The stock market crash in October 1929 didn't destroy a particularly large amount of wealth or make people highly pessimistic. Rather, it made companies and consumers very unsure about future...Read More
COLORADO SPRINGS, CO, April 27, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold Resource Corporation (NYSE American: GORO) (the "Company") declares its monthly instituted dividend of one-third of a cent per common share for April 2020 payable on May 26, 2020 to shareholders of record as of May 11, 2020. Gold Resource Corporation is a gold and silver producer, developer and explorer with oper...Read More
Physical gold continued to catch a bid last week, trading above $1,760 an ounce, on a host of head-spinning economic news, from millions more Americans filing jobless claims to record money-printing to negative oil prices. The national average price for a gallon of gasoline fell further to $1.78 on Friday, down more than $1 a gallon from a year ago. But the lowest price in the country may belong...Read More
Strengths? The best performing metal this week was gold, up 2.78 percent. ETFs added 36,334 troy ounces of gold to their holdings on Thursday, bringing this year's net purchases to 12.2 million ounces, according to Bloomberg data. That marks the 24th straight day of increases for ETFs backed by the yellow metal. Newmont, the world's largest gold company, increased its quarterly d...Read More
No one anticipated negative crude oil even in the wildest of the dreams. A whooping negative -$40.32 was historic. The coming generations will have a chapter in their MBA course as to why crude oil prices reached -$40.32. The trading lesson is simple, when price move as per fundamentals, never trade against it. Silver has not risen as it is an industrial metal. Investment demand for silver lags...Read More
Turkish steelmakers have cut their capacity utilization rates to prevent the spread of Covid-19 among employees amid reduced demand for steel due to pandemic lockdown measures in the domestic and export markets.Several Turkish long steelmakers stopped production in March and April, and some of them have not yet resumed production.Maintenance breaks have reduced flat steel output in Turkey recently...Read More
Successful trading in recent weeks spurred some CIS steel slab producers to increase their offer prices for foreign customers in late April.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $325-340 per tonne on Monday April 27, widening upward by $10 per tonne.Ukraine-origin slab was available in Italy and Turkey within the range of $360-365 per tonne cfr, which...Read More
"A lie can travel halfway around the world before the truth is putting on its shoes." The list of sensational headlines based on shoddy research just continues to grow. Whether by commission, omission or plain old ignorance, our media is failing us - it's not probing as critically and deeply as it should to ensure the information it brings us is valid. Among several examples in today's video, Chri...Read More