Today on INK Ultra Money, Venture capitalist, Bill Tai explains to Raoul Pal why Facebook (Mostly Sunny; FB) is on to something big with its Libra digital currency project. While regulators struggle with Facebook's ambitions, innovation surrounding data and the blockchain is taking place at a rapid pace. It is a great Real Vision interview for those who want to stay on top of the potential next w...Read More

The prices for steel billet and rebar in the United Arab Emirates have increased over the past week, with demand improving after the Eid Al-Fitr holiday, as well as the easing of restrictions under the Covid-19 pandemic, market sources said on Tuesday June 2.Market participants in the UAE were expecting demand to improve in late May, when the Islamic holy month of Ramadan ended with the Eid al-Fit...Read More

China's domestic rebar prices continued to trend upward on Tuesday June 2 amid stronger demand stimulated by rising futures.Domestic Eastern China (Shanghai): 3,590-3,620 yuan ($503-508) per tonne, up by 20 yuan per tonneBuyers raised their procurement rates amid a strengthening futures market, which pushed up spot prices.But some markets participants have expressed concerns over the possibility o...Read More

Ferrous scrap prices in Mexico were stable or down in the steelmaking regions of Bajio and Monterrey during the week to Tuesday June 2 due to currency moves and the weak performance of the steel sector.At least two steel plants in the Baj?-o region announced a cut of 100 pesos ($4.50) per tonne in scrap values, which was reflected in lower prices for most grades assessed by Fastmarkets.Fastmarkets...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Ferrous scrap consumption rates of Chinese integrated mills appear to have declined this year on a per-tonne basis. This year has seen the ratio of pig iron to steel output tighten, leaving increasingly less room for scrap consumption. Over the first four months of 2020, the pig iron-to-steel ratio has been above the pr...Read More

Turkish steel producers continued their deep-sea scrap purchases for July shipments at firm prices on Tuesday June 2, sources told Fastmarkets.A steel producer in the Iskenderun region booked a US cargo, comprising 21,000 tonnes of HMS 1&2 (90:10) at $259 per tonne, 4,000 tonnes of shredded at $261 per tonne and 5,000 tonnes of plate & structural scrap (P&S) at $266 per tonne cfr on June 2. T...Read More

Ricky Wen, ElliottWaveTrader Monday's session was an inside day within a potential inside week/high-level consolidation context. Basically, the regular trading hours (RTH) session was confined to a 3059-3027 range on the Emini S&P 500 (ES), which is about 1%. In addition, as you may be aware by now, the average range per day has been narrowing for the past few weeks due to this methodical grind...Read More

According to its recently published March and April statements of account --https://www.bis.org/banking/balsheet/statofacc200331.pdfhttps://www.bis.org/banking/balsheet/statofacc200430.pdf-- the Bank for International Settlements, which acts as an agent for most central banks, appears to have made little change in its use of gold swaps. The BIS is estimated to have increased its position in gold...Read More

CIS export billet prices increased on Tuesday June 2, with China resuming bookings and accepting higher prices, sources told Fastmarkets.The increased cost of iron ore, an upswing in China's domestic rebar market and production cuts planned in Tangshan province supported interest in imported billet.Fastmarkets' daily index for iron ore 62% Fe fines, cfr Qingdao was $101.32 per tonne on June 2, up...Read More

Richard (Rick) Mills, Ahead of the herdPrecious metals are loving the uncertainty the coronavirus has created. Despite limited successes some countries have had with reopening, the virus is nowhere near contained. As of this writing, close to 6 million worldwide are infected and 365,328 have died. The important columns in the table below from the heavily visited Worldometer's coronavirus page,...Read More

By: Ira EpsteinGold is back and forth short-term, does not have a trend at the moment. Caught in the volatility bands..Read More

Gold and silver will remain firm on developments in USA. Copper is on the verge of a big technical breakout. Crude oil is bullish. OPEC has decided to continue with production cuts. If India had faced a similar mass arson then global leaders would have condemned India with "secularism is at risk" slogan. The arsonists would have been divided between religion, caste and creed. USA's NATO allies a...Read More

The prices for steel billet and rebar in the United Arab Emirates have increased over the past week, with demand improving after the Eid Al-Fitr holiday, as well as the easing of restrictions under the Covid-19 pandemic, market sources said on Tuesday June 2.Market participants in the UAE were expecting demand to improve in late May, when the Islamic holy month of Ramadan ended with the Eid al-Fit...Read More

Gregory Mannarino started his career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. After realizing that working on Wall Street was not like the movies, he moved on to get a medical degree and practiced medicine as a Physician Assistant. He also served in the United States Naval Reserve Medical Service Corps, having attained the rank of Lieute...Read More

Mohamed El-Erian, chief economic advisor at Allianz, joins "Squawk Box" to discuss what he's watching in the markets and the Fed's intervention during the coronavirus crisis.Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a global investment firm and one of the world's largest bond...Read More

Egon von Greyerz is founder and Managing Partner of Matterhorn Asset Management AG & GoldSwitzerland. Since the 1990s Egon von Greyerz has been actively involved with financial investment activities including mergers and acquisitions and asset allocation consultancy for private family funds. This led to the creation of Matterhorn Asset Management, an asset management company based on wealth preser...Read More

John and I had been warning you for years that this moment was coming. We take zero pleasure in being right. Our only purpose was to help you perceive what was really taking place all around you. The riots and the pandemic may end shortly, but the damage will be felt for years, if not decades. But there's more downside on the way, remember, bad things come in threes. Whether that's a killer hurric...Read More

Join Hedgeye CEO Keith McCullough and Jesse Felder, former hedge fund manager and founder of The Felder Report, in this pro-to-pro investing discussion about the current market environment.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 Managing...Read More

Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWee...Read More

Indonesian state-owned steel producer PT Krakatau Steel recorded its first profit in over a decade in the first quarter of 2020, aided by considerable cost cutting, the company announced.$74.1-million net profit for Q1 2020 (vs $62.3-million net loss in Q1 2019)Operating costs fell 31% year on year to $46.8 million.$130 million of spending cuts (cost reductions in energy, consumables and utilities...Read More