Turkish import prices for steel billet have gone down over the past week on falling imported scrap values and weak demand, sources said on Thursday April 30.After about 10 days of silence in the deep-sea scrap import markets, one Turkish steel mill booked a Baltic Sea cargo on April 27 at $242 per tonne cfr for 26,000 tonnes of HMS 1&2 (80:20) and $252 per tonne cfr for 4,000 tonnes of bonus scrap...Read More
Prices in Southeast Asia's steel billet market sank in the week to Thursday April 30 amid market participants' concerns over a growing number of cargoes being offered in the spot market despite sluggish buying interest, Fastmarkets heard.The regulations imposed to curb the spread of the Covid-19 virus continued to weigh on steel demand and prices over the assessment week, sources told Fastmarkets....Read More
China's domestic rebar prices increased slightly on Thursday April 30 on rising futures following the release of the latest steel purchasing managers' index (PMI).Domestic Eastern China (Shanghai): 3,410-3,440 yuan ($481-486) per tonne, up by 10 yuan per tonneNorthern China (Beijing) - weekly assessment: 3,390-3,440 yuan per tonne, down by 30 yuan per tonne from last FridayChina's steel PMI for Ap...Read More
By Stefan GleasonApril marks a second month of truly extraordinary developments in markets - from negatively priced crude oil futures to a record spike in unemployment claims to a lockdown-defying rally in stocks.The financial media is touting the S&P 500's surge of more than 13% in April - the biggest one-month gain for the index since 1974.While stock market investors have made up a big chunk...Read More
RambusBefore we look at tonight's Precious Metals charts I would like to make a comment on the US stock markets. I will take some flack over some of the comments I'm going to make but that's fine as it won't be the first time nor the last.Let me start by saying, "The only rule when it comes to trading the stock markets is, "There Are No Rules." The other important rule that I live by is that, "t...Read More
By: Gary SavageGold testing $1,800 resistance, traders should take note of this area and possibility for more bullion banks attacking the metal as they remain heavily short. In the general markets, we are nearing the upside target..http://blog.smartmoneytrackerpremium.com/Read More
By: Ira EpsteinGold is strong, hard to break it. A lot of money printed and about to be printed and I think this got the gold market's attention:Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices have fared relatively well over the past couple of months in the face of the threat from the Covid-19 pandemic.In grade-304 material, the most common grade of stainless steel, prices were down by about 5-7% since the turn of the year - not bad, when compared with the falls in prices of other assets so f...Read More
Concerns over the possibility of lower Indonesian stainless steel supply emerged over the past week after local media reported that four people at the Indonesia Morowali Industrial Park - where a major producer is located - had tested positive for the Covid-19 virus. PT Indonesia Tsingshan Stainless Steel, which is located in the industrial park, did not issue any new offers this week, sources sai...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
Following yesterday's pimping of Gilead Science's antiviral drug remdesivir on scant and suspect results, it's hard not to start asking the question: Are we being played? We've argued in several past videos that there is ample enough evidence that hydroxychloroquine shows enough promise in reducing/treating covid-19 that further research is merited. Instead, the drug is being demonized in the medi...Read More
Topics:Final trading day in April will go into the record books.Markets ignoring more bad economic data.Jerome Powell flashes the green light to buy gold.US considers suing China and defaulting on debt.Money supply surges by a third of a trillion dollars in a week.Major housing real estate disaster before us.Peter Schiff is an internationally recognized economist specializing in the foreign equity...Read More
***This interview originally aired live on Hedgeye.com on April 15, 2020***Danielle DiMartino Booth spent nine years as an advisor to Richard W. Fisher at the Federal Reserve Bank of Dallas. Danielle left the Fed in 2015 to found Money Strong, LLC, an economic consulting firm and launched a weekly economic newsletter She is the author of Fed Up: An Insider's Take on Why the Federal Reserve is Bad...Read More
David Stockman appears on "Spicer & Company" (NewsmaxTV, April 29, 2020)David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and he is the...Read More
"I understand the market has been up a lot since the March low. But what I see in the market is a retracement rally that looks very similar to the first type of rallies that you get in protracted bear markets." Jim Bianco is President and Macro Strategist at Bianco Research, L.L.C. Since 1990 Jim's commentaries have offered a unique perspective on the global economy and financial markets. Unencumb...Read More
Richard is in Thailand where the virus never took hold despite the fact that thousands of Chinese visited prior to the outbreak. Assuming the virus doesn't return, we'll be viewing this as one of the great economic experiments in history. In the US, credit growth has been the great driver of economic expansion. When credit growth slowed or ended, we saw recessions take hold. During 2008-09 credit...Read More
David Moadel is a trader and investor of stocks and options. A former elementary school teacher, David has a master's degree in education and a unique ability to convey knowledge in the area of finance. He has coached many people and likes to combine fundamental and technical analysis to help people find their own trading style.Read More
Will this recession be worse than 2008?Portfolio Manager, attorney, finance author, a regular guest on North American media. Danielle Park is the author of the best selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," as well as a popular daily financial blog: www.jugglingdynamite.com. Danielle worked as an attorney until 1997 when...Read More
Nouriel Roubini, professor at New York University, discusses central banks' policy response to the coronavirus pandemic, his concerns about global inflationary pressure, and what he sees as a lack of global leadership from the United States.*please give the video a moment to loadNouriel Roubini, a professor at NYU's Stern School of Business and Chairman of Roubini Global Economics, was Senior Econ...Read More
Most parents want their kids to go to school, get good grades, and find a safe, secure job. In reality, that is some of the worst advice we can give our kids. Why? The answer is found in taxes and debt.For people who earn their income from the Employee (E) and Self-Employed (S) quadrants, there are virtually no tax breaks. Thus, those on the left side of the CASHFLOW (R) Quadrant pay the most in t...Read More