Adjusted steel safeguard measures in Europe, combined with new trade cases, will limit availability of imported hot-rolled coil and support domestic prices. The latest changes, however, are not the end to the protectionist measures in the EU.Please click on the thumbnail below to download this free special report.Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Thursday July 23, due to the seasonal market slowdown, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?407.69 ($471.19) per tonne on Thursday, up by just ?,?0.01 per tonne from ?,?407.68 per tonne on July 22.Thursday's index was b...Read More
The price for steel reinforcing bar in the United States held firm week on week on steady demand from the construction end market, market participants said.US marketFastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US held at $28 per hundredweight ($560 per short ton) on Wednesday July 22, unchanged after falling to this level on July 15."It seems to have stalled...Read More
Steel billet Import prices increased in Egypt in the week to Thursday July 23 because of higher offers and despite weak demand, sources told Fastmarkets.CIS-origin billet was offered this week at $405-410 per tonne cfr, and buyers said that $380 per tonne cfr was likely to be a workable price for the material. However, CIS sellers did not accept the low-priced bids. ...Read More
Domestic long steel prices in Turkey have increased over the past seven days because of the recent upturn in steel scrap values, sources said on Thursday July 23.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey was 3,490-3,520 lira ($510-515) per tonne on Thursday, up from 3,400-3,480 lira per tonne, including 18% VAT, week on week.Mills were encouraged t...Read More
Turkish steel mills have continued to book deep-sea scrap cargoes for August shipment with improving prices, sources said on Thursday July 23.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 18,000 tonnes of HMS 1&2 (95:5) at $275 per tonne cfr on Thursday.Another steel mill in Turkey booked a US cargo, comprising 7,000 tonnes of HMS 1&2 (80:20) at $270 per...Read More
The latest forecasts from Fastmarkets' teamof analysts are ready to view.Chinese crude steel production outperformed our expectations with its recovery since the Covid-19 pandemic lockdowns. Crude steel output was up by 2.3% year-on-year in the first half of 2020 to 503 million tonnes, and we have revised upward what was initially a more bearish forecast for this year. We now estimate that product...Read More
Seaborne iron ore prices were largely rangebound on Thursday July 23 with political tensions rising between the United States and China, according to trade sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $110.12 per tonne, down by $0.83 per tonne.62% Fe low-alumina fines, cfr Qingdao: $112.80 per tonne, down by $0.04 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $99.57 per...Read More
Turkish steel billet prices have increased over the past week in line with rising scrap costs and tightening supply in the Commonwealth of Independent States (CIS) region, sources said on Thursday July 23.Fastmarkets' weekly price assessment for steel billet, import, cfr main port Turkey, was $395-405 per tonne on Thursday, up from last week's $380-390 per tonne.The suppliers in the CIS region rai...Read More
Jan Nieuwenhuijs, VOIMAThree elements cause physical delivery on the COMEX to have reached record highs this year: strong demand for futures in New York, a persisting spread between the price of futures in New York versus spot gold in London, and arbitrage.Physical delivery on the largest gold futures exchange in the world, the COMEX in New York, has reached all time highs this year. In June mor...Read More
The purpose of this update is to celebrate and mark silver's powerful breakout from a giant base pattern that started to form as far back as 2013 - 2014, a breakout which has only happened during the past 2 days, yesterday and today, with today's advance finally seeing it break clear above the resistance at the upper limits of the base pattern. While this doesn't mean it can't drop back again it...Read More
By: Gary SavageGold has left behind the resistance zone from 2011, we will likely see all-time highs acting as a magnet pulling the price higher: https://blog.smartmoneytrackerpremium.com/Read More
Steel billet producers in Iran continued to push their prices for foreign customers further upward in the week to Wednesday July 22, supported by a generally positive mood in the global steel market as well as continuing strong domestic demand.Fastmarkets' weekly price assessment for steel billet, export, fob ports Iran, was $380-385 per tonne on July 22, against $370-380 per tonne a week earlier....Read More
China has become the savior of the global steel market, with its big appetite and high domestic prices supporting the international ferrous supply chain amid the Covid-19 pandemic.While demand for steel in most economies has plummeted in the face of the health crisis, that in China has been strengthening since at least the second quarter of 2020 amid the country's steady recovery after battling th...Read More
Covid-19 is one of the most "alien" viruses our modern health care system has encountered. Not because it came from extraterrestrials, but because of all of the various different ways it's able to wreak havoc on the human body. It's so novel that we don't have a good natural analog to compare it to. And it's still confounding us. While it looked as if we had contained it here in the US, it's now s...Read More
There is some irony in discussing this now because the precious metals sector is starting a correction. The signs are there and stay tuned for an article about that, which will be posted on TheDailyGold.com. Right now, the crowd will be wrong but I'm only talking about the very big picture.In the very big picture, in investing and markets, the crowd is right most of the time. Its wrong only at tur...Read More
Dr. Marc Faber was born in Zurich, Switzerland and obtained a PhD in Economics at the University of Zurich. Between 1970 and 1978, Dr. Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In 1990, he set up his own business, Marc Faber Limited which acts as an investment advisor...Read More
Jim Bianco of Bianco Research discusses the Fed and Judy Shelton's recent nomination, the significance of flows, and his forward look on markets and the economy. Bianco and Harrison first analyze the extreme opposition of Shelton's nomination as a Fed Governor and consider how the Fed has been a domineering force in supporting markets for the past few months. Bianco then breaks down the types of r...Read More
Silver is on the move, China and the USA are saber-rattling, shutdowns are stifling the economies of the world, the Fed has hired a goldbug- the stories just keep on coming. Join Mike Maloney, Jeff Clark, and Chris Martenson of PeakProsperity.com as they unravel the latest news in this trial of a new video format.Michael Maloney is a precious metals investment expert and historian. He is the found...Read More
Lynette Zang has held the position of Chief Market Analyst at ITM Trading since 2002. Ms. Zang has been in the markets on some level since 1964. Her mission is to convert financial noise into understandable language. She has been a banker, a stock broker and studied world currencies since 1987. She believes strongly that we need to be as independent as possible and at the same time, we need to com...Read More