Domestic hot-rolled coil prices in Northern Europe moved down slightly day on day due to low demand, sources told Fastmarkets in Tuesday April 28.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?440.00 ($476.70) per tonne on Tuesday April 28, down by ?,?1 per tonne from ?,?441.00 per tonne on April 27.Tuesday's index was calculated based on official offers hear...Read More
Share this articleTORONTO - The prime minister of Papua New Guinea is threatening to take over a gold mine operated by Barrick Gold Corp. after operations were suspended there last weekend in the midst of a dispute over renewal of its mining lease.In a social media post, Prime Minister James Marape warns Barrick "don't fight me" as he urges the company to maintain the Pogera mining operation...Read More
Some flat steel import prices in the United Arab Emirates and Saudi Arabia decreased this week, with the markets very slow because of concerns about the spread of the Covid-19 pandemic as well as the start of Ramadan, sources told Fastmarkets on Tuesday April 28.No deals were heard during the week, with steel consumption reduced because the Islamic holy month of Ramadan started on April 23, when a...Read More
The prices for steel billet and rebar in the United Arab Emirates fell over the past week due to weak demand during the Islamic holy month of Ramadan, as well as the continued effects of the Covid-19 pandemic, market sources said on Tuesday April 28. Authorities in the UAE announced a curfew from 10pm to 6am for the month of Ramadan, which started on April 23. Traditionally consumption of steel pr...Read More
The word "quarantine" comes from the Italian words quaranta giorni which mean "40 days." In the 14th century, in an effort to protect citizens from the Black Death, the Doge of Venice required suspect ships to sit at anchor for 40 days before landing.There is no record of whether the term of 40 days was due to the disease burning out or if it was the length of time people would sit before rebellin...Read More
Our D-economy theme dominated last week. Will it be two weeks in a row? So far, this week the tables are turned with optimism building ahead of some key US earnings report. We look at what insiders are signalling in Canada about the deflation versus inflation battle that is shaping up. Meanwhile, our insider of the week is from the cryptocurrency space, a corner of the market that many investors...Read More
Cryptocurrencies have been making a comeback over the past few weeks, but does the rally have staying power? The CEO of a Canadian-listed cryptocurrency-focused investment firm seems to be betting that bitcoin and blockchain are poised for better days ahead. Canadian Insider Club Ultra members can watch the video summary below. Watching institutional interest If you are not a member, join us a...Read More
The impact of Covid-19 is undeniably huge. It continues to make its presence felt across all commodity markets, including the ferrous supply chain, from raw materials down to finished steel products. One significant impact that can be tracked closely through spot pricing is the increasing disarray in price correlations between various segments of the ferrous supply chain after the Covid-19 pandemi...Read More
China's domestic rebar prices fell on Tuesday April 28 amid lower buying interest following the weakness experienced in the futures market. Domestic Eastern China (Shanghai): 3,400-3,430 yuan ($480-484) per tonne, down by 20 yuan per tonneTwo days of declines in the futures market this week led to lower buying interest in the spot market on Tuesday, sources said.Customers have cut their procuremen...Read More
The Turkish steel producers have again gone quiet in the deep-sea scrap markets despite the sharp decrease in prices seen at the beginning of this week, sources said on Tuesday April 28.After around 10 days of silence, a Turkish steel mill booked a Baltic Sea cargo on April 27 at $242 per tonne cfr for HMS 1&2 (80:20) and $252 per tonne cfr for bonus, which sent the daily scrap indices down by mor...Read More
Seaborne iron ore market prices fell on Tuesday April 28, following the momentum in the iron ore futures curve on the Dalian Commodity Exchange. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $82.20 per tonne, down $1.28 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $84.60 per tonne, down $0.90 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $71.97 per tonne, down $0.50 per t...Read More
BHP is consulting with relevant stakeholders on options to increase its licensed iron ore export capacity to over 290 million tonnes per year from Hedland, the shipping hub in Western Australia, it told Fastmarkets on Tuesday April 28.Tim Day, BHP acting asset president for Western Australia iron ore, said BHP's focus remains on reaching 290 million tonnes per year in the medium term, but improvem...Read More
Prices in the market for steel billet exports from the Commonwealth of Independent States (CIS) continued to soften in late April, with some cargoes heard sold to customers in the Middle East with discounts.A large cargo of Ukraine-origin billet was reported sold to Saudi Arabia for around $360 per tonne cfr. According to various sources, the cost of freight would vary within the range of $20-25 p...Read More
China's domestic rebar prices fell on Tuesday April 28 amid lower buying interest following the weakness experienced in the futures market. Domestic Eastern China (Shanghai): 3,400-3,430 yuan ($480-484) per tonne, down by 20 yuan per tonneTwo days of declines in the futures market this week led to lower buying interest in the spot market on Tuesday, sources said.Customers have cut their procuremen...Read More
Gary Savage SPX rally heading for 3,000 area, a pullback and then a run for 3,200 area..Gary Savage https://blog.smartmoneytrackerpremium.com/Read More
Ira EpsteinSettlement times come in at 1:30pm EST. Down day in energy, Oil ETF changes rules again, liquidating all front month-June contracts! Gold markets in a consolidation phase, Gold has a bear pattern but..Read More
*This interview was recorded on 4/24/20Paul Buitink talks with author and analyst Jim Rickards about the severity of the current economic depression and its aftermath. Jim expects an L shape recovery. What will be the role of the US and the dollar going forward? What about deflation? And what will be the role of gold, the euro, SDR and bitcoin? Check out the video to find out. Jim strongly advises...Read More
The Covid-19 virus "acts like no pathogen humanity has ever seen." Yes, it attacks the lungs most; but it also can do severe damage to the heart, blood vessels, kidneys, gut, skin and brain. Cardiologist Harlan Krumholz of Yale University says it "can attack almost anything in the body with devastating consequences. It's ferocity is breathtaking and humbling". We also now know it has two pathways...Read More
"The flow of capital is coming to a halt...and that's deflationary."Marin Katusa has worked directly with and financed many companies of well-known individuals in the resource industry and has become one of the most trusted and well connected dealmakers in the junior resource sector. During this time, he has become one of the most successful portfolio managers in the resource sector, such as his 2...Read More
You won't want to miss this very special Liberty Report! Former University of Ottawa physics professor Denis Rancourt joins today's program to examine the science behind government and media claims about the coronavirus outbreak. Does a national lockdown make any sense? Why did the scientists that governments listen to seem to get the numbers all wrong? And why have other scientists who challenged...Read More