The U.S. Department of Energy is now backing continued research of an incredible fuel that has up to three times the energycontent of gasoline.More importantly, it could be the only fuelon earth that produces zero emissions when burned.Until recently, this remarkable fuel wasconsidered too dangerous and expensive to be used commercially…But a new technological breakthroughappears to have ma...Read More
Investment involves taking a risk. It involves putting yourmoney on something with the hope that it will increase in value. Therefore, itwill be difficult for you to participate in the investment if you are not arisk-taker. Anything can happen at any time, and you might end up incurringlosses or profits. For someone who only had hopes of making a profit, thelosses may discourage him/her. Inve...Read More
Here are five Fastmarkets stories you might have missed on Monday June 7 that are worth another look.ArcelorMittal is seeking approval from European authorities for its acquisition of steelmaking assets in France that belong to Liberty Steel, the European Commission (EC) said on June 7.Fresh deals for the supply of aluminium ingot...Read More
Peter Krauth of the Gold Resource Investor discusses rising inflation and the role of hard assets. Sure Mr. Biden, money is cheap. But whose money is it?The White House recently sent a $6 trillion budget plan to Congress. Let that sink in for a moment.Biden's first wide-ranging budget calls for big spending on infrastructure, education and, of course, climate change. His plan lays out $6 trillion...Read More
Base metals prices on the London Metal Exchange were largely down at the 5pm close on Monday June 7, with the exception of lead which held strongly amid the ongoing and tightly contested presidential election in Peru. "Lead and zinc are trading in their own tandem due to the close presidential election call in Peru," Fastmarkets analyst Andy Farida said. The lead price closed at $2,153 per tonne t...Read More
The gold market has seenmany momentum shifts in recent months. At the end of the day, however, themarket really depends on one simple factor: Are the big money inflows trendingin a bullish or bearish direction?Near market lows,speculative interest tends to be heavily on the short (bearish) side. That setsthe stage for buying pressure to be released when rallies force short sellersto cover their po...Read More
The rebounds in Gold and Silver exceeded my expectations and closed May in a strong fashion, near the highs of the month.Gold’s monthly close was the third-highest ever. Silver failed to break resistance at $28.50, but its monthly close at $28 was the second-highest in the last eight years.As noted last week, Gold and gold stocks have perked up in real terms. Gold relative to Bonds has...Read More
Domestic hot-rolled coil prices in Europe were fairly stable on Monday June 7, with the bullish mood cooling, sources told Fastmarkets.While shortages are likely to remain a problem for buyers throughout 2021, end users have started to resist further price increases, sources said. After continuously raising prices through April and May, mills have kept their official offers unchanged and will cont...Read More
In a previous article I wrote:“Looking at this chart, it should be apparent that gold at $2000 is fully-priced. Unless you are convinced that the US dollar is going to crash soon, then expectations for much higher gold prices at this point are unwarranted.” ($10,000 Gold Or A Triple Top?)The article was published in August 2020 and the chart is reprinted below… Gold...Read More
The price of steel rebar in Russia's Central Federal District around Moscow was steady in the week to Monday June 7, aided by solid demand from end-users, sources told Fastmarkets.Tula Steel was heard offering rebar to the region at 75,000-77,000 roubles ($1,029-1,057) per tonne cpt, sources said, compared with 75,000 roubles per tonne heard seven days ago.Severstal was offering June-delivery reba...Read More
Here are five Fastmarkets stories you might have missed on Monday June 7 that are worth another look.ArcelorMittal is seeking approval from European authorities for its acquisition of steelmaking assets in France that belong to Liberty Steel, the European Commission (EC) said on June 7.Fresh deals for the supply of aluminium ingot...Read More
Belgian battery-materials manufacturer Umicore has appointed Mathias Miedreich chief executive officer to succeed Marc Grynberg, with the appointment to take effect in the fourth quarter of 2021, the company said on Monday June 7.Grynberg and Miedreich will work together to achieve a smooth transition, the company said.Miedreich has worked at Faurecia, a global automotive supplier with a strong fo...Read More
Base metals prices on the London Metal Exchange were largely down at the 5pm close on Monday June 7, with the exception of lead which held strongly amid the ongoing and tightly contested presidential election in Peru. "Lead and zinc are trading in their own tandem due to the close presidential election call in Peru," Fastmarkets analyst Andy Farida said. The lead price closed at $2,153 per tonne t...Read More
It's so much more than just saying that precious metals are a hedge against inflation...By Matt from Silver Fortune via Silver FortuneIt's so much more than just saying that precious metals are a hedge against inflation. Read More
Base metals prices on the London Metal Exchange were mainly lower this morning, Monday June 7, after the rally sparked by Friday's worse-than-expected US employment report ran out of steam.China's imports climbed 51% and exports were up 28% year on year in May.The US Dollar Index weakened after Friday's disappointing employment report in the United States.Base metalsLME three-month base metals pri...Read More
Domestic prices for hot-rolled coil in Europe increased in the week to Friday June 4, but the pace of the rally has slowed compared with previous weeks. Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,148.57 ($1,397.26) per tonne on June 4, up by ?,?12.32 per tonne week on week and by ?,?137.57 per tonne month on month. Friday's index was ba...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Chinese steel scrap prices were supported by firm downstream steel prices earlier this year, but they fell sharply over the second half of May. The drop in scrap prices in the latter half of the month came after authorities signalled a wish to cool down commodity prices, including those for steel and steelmaking raw material...Read More
RAPAPORT... De Beers increased prices of goods above 2 carats at this week's sight amid shortages of rough alongside strong polished demand.Prices rose around 5%, and more in some categories, market insiders told Rapaport News on Monday. Near-gem items also saw significant increases, while prices for other stones under 2 carats were either stable or slightly up."They seem to have picked areas...Read More
RAPAPORT... Italian watch association Assorologi has become the second major timepiece group to join the World Jewellery Confederation (CIBJO) this year.Associazione Italiana Produttori e Distributori di Orologeria represents manufacturers and importers of watches and watchmaking supplies, CIBJO said Monday. It is also the industry's representative at Confcommercio, an Italian cross-sector tr...Read More
RAPAPORT... Hong Kong authorities busted smugglers transporting diamonds and other jewels estimated to be worth HKD 25 million ($3.2 million) in the largest case of its kind detected by the municipality's customs department.Officers discovered the illegal contents when they stopped an outbound truck for inspection at the Sha Tau Kok control point last week, the Hong Kong Customs and Excise Departm...Read More