Europe's domestic prices for heavy steel plate have dropped again over the past week due to poor demand, sources told Fastmarkets on Wednesday May 13.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw northern Europe was ?,?470-490 ($509-531) per tonne on May 13, widening downward by ?,?10 per tonne from ?,?480-490 per tonne on May 6.The assessment is based on off...Read More
For your weekly reading, we bring you the week's most popular stories from Energy and Capital and our sister site, Wealth Daily... Investing in the Return of U.S. ManufacturingWas COVID-19 spawned in a wet market or in a biotech lab in Wuhan? Was it released into the world intentionally or was it an accident? Energy and Captial editor Jeff Siegel discusses the possible origins of COVID-19...Meat...Read More
Domestic prices for cold-rolled coil in Europe have fallen further over the week despite limited trading activity, sources told Fastmarkets on Wednesday May 13.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe, was ?,?500-520 ($542-563) per tonne on May 13, compared with ?,?500-525 per tonne a week earlier. The assessment, however, was down by ?,?30-40 per tonne sin...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 13 that are worth another look.China's Sichuan province is to implement an inspection regime to ensure steelmakers comply with the nationwide policy requiring the increased use of alloys to improve the quality of any rebar produced in the region.Glencore, Anglo American and Vale have been excluded from Norway's oil fund while...Read More
Brazilian flat and long steel producer Companhia Sider??rgica Nacional (CSN) has started procedures to halt the No2 blast furnace at its Usina Presidente Vargas (UPV) unit amid low demand caused by the spread of the Covid-19 pandemic, Fastmarkets has learned.The local metalworkers' union, Sindmetal-SF, said that the company has begun to shut down the furnace and was planning to eliminate 2,000 job...Read More
The price for steel H-beams in Europe remained unchanged on Wednesday May 13, due to a lack of trading and despite continuing fluctuations in feedstock costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?525-560 ($569-607) per tonne on Wednesday, unchanged week on week.Some market participants reported a small uptick in...Read More
Glencore, Anglo American and Vale have been excluded from Norway's oil fund while BHP has been placed on an observation list as the $1.1 trillion fund tightens up its environmental, social and governance (ESG) requirements. Glencore and Anglo American have been removed due to the fund's product-based coal criteria, which were made stricter last year, while Vale has been barred due to environmental...Read More
Turkish steel producers continued to book deep-sea scrap cargoes for June shipment on Wednesday May 13, but prices started to show signs of a downturn due to the weak rebar market, sources told Fastmarkets. A steel mill in the Marmara region booked a US cargo, comprising 12,000 tonnes of HMS 1&2 (80:20) at $252 per tonne and 18,000-20,000 tonnes of shredded at $257 per tonne cfr.But another s...Read More
By Gary Savagehttps://blog.smartmoneytrackerpremium.com/ Read More
By Ricky WenOvernight price action overshot to 2830 support on the Emini S&P 500 (ES), bottoming out at 2825.25, as price was oversold given the 100-point drop from the 2930s.As of the regular trading hours open, the ES was around the same spot as yesterday's closing price area of 2850, which coincides with our key 2850 level discussed below.What is the bias/gameplan going into today?For intrada...Read More
Thomas LuongoThere's been a concerted effort recently among the oligarchs I like to call The Davos Crowd to demonize cash. From hedge fund manager Ray Dalio pronouncing 'Cash is trash' earlier this year to the fear-mongering surrounding COVID-19 making people fearful of dealing in cash because it might be tainted the anti-cash rhetoric has been amped up to eleven.And it's been no secret that the...Read More
By: Ira EpsteinGold is forming a triangle pattern and from that pattern, we will see how the price will breakout. In the meantime we have an uptrend..Read More
The seaborne iron ore market largely maintained current levels on Wednesday May 13, with good demand for steel and consumption of iron ore continuing to support prices. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $91.63 per tonne, down $0.04 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $94.36 per tonne, up $0.16 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $78.88 per t...Read More
Export prices for steel billet from Iran narrowed downward slightly over the week to Wednesday May 13 amid limited trading.Demand faded from Southeast Asian customers which had been actively booking material earlier in the month.One cargo of 20,000 tonnes was reported sold within the range of $335-340 per tonne fob, with the desitination presumed to be China.Some demand was seen among the Gulf Co-...Read More
Jim talks about recent events, explains the stats and how this is all blown out of proportion. Jim then segues ways into the economy and how the central bank is now being loaded up with toxic assets to bring the Rothschild banking system down. Gold is ready to take off and sound money will be returning.Jim Willie is a statistical analyst in marketing research and retail forecasting. He holds a PhD...Read More
Gary is a master at making the complex simple. In just 4 charts he shows exactly where the economy is now in relation to the 2008-09 economic crisis and where it's probably heading. And equally as important, he makes a compelling case for the only insurance policy available to mere mortals, gold.Gary S. Wagner has been a technical market analyst for 25 years. A frequent contributor to STOCKS & COM...Read More
Bob's website: tradegeniusacademy.comLior Gantz has been called a thrill-seeking entrepreneur by his team, and as such, he built and runs numerous successful businesses, and has traveled to over 30 countries in the past decade in pursuit of thrills and opportunities, gaining valuable knowledge and experience. With Wealth Research Group, Lior allows readers access into the world of the few who beat...Read More
Join Hedgeye CEO Keith McCullough and Epsilon Theory CIO Ben Hunt for a pro-to-pro investing discussion about the current market environment.Ben Hunt's bio: https://www.epsilontheory.com/w-ben-hunt/Mr. Keith R. McCullough is the Founder and CEO of Hedgeye Risk Management LLC. He covers the strategy sector at the firm. Prior to founding the firm, Mr. McCullough was a Partner, Portfolio Manager, and...Read More
Well, our "experts" continue to disappoint...Why is it that so many of those we're relying on aren't being straight with us? Sure, we've come to expect that from politicians and the media, but scientists, too? The chorus declaring that there's no way that covid-19 could have originated in a lab appears blind to the troubling growing pile of concerning data. A sudden lockdown of the Wuhan Institute...Read More
Gerald Celente is a pioneer trend strategist and founder of The Trends Research Institute. He is the author of the national bestseller Trends 2000: How to Prepare for and Profit from the Changes of the 21st Century and publisher of the internationally circulated Trends Journal newsletter. Gerald Celente is a political atheist. Unencumbered by political dogma, rigid ideology or conventional wisdom,...Read More