Domestic prices for hot-rolled coil in Northern Europe and Italy declined in the week to Friday July 2, with buyers reluctant to continue paying high prices.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,149.50 ($1,363.72) per tonne on July 2, down by ?,?41.64 per tonne week on week and down by ?,?0.50 per tonne month on month.The index was bas...Read More

European buyers were insisting on lower domestic prices for hot-rolled coil although the availability of the material remained short, sources told Fastmarkets on Monday July 5.Buyers were reluctant to continue paying high prices for coil, and have been limiting their purchases in terms of both number and volumes, market sources said.Long lead times from domestic producers, sufficient stocks among...Read More

Domestic prices for steel rebar in Russia's Central Federal District around Moscow were largely stable in the week to Monday July 5, aided by solid demand from construction.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was 72,500-75,000 ($990-1,024) roubles per tonne on Monday, including 20% value-added tax, unchanged from last week.High const...Read More

Limited spot trade for rebar imports into Singapore kept prices unchanged during the week to Monday July 5, sources told Fastmarkets.Two major Indian steel mills raised their offer prices to $750-760 per tonne cfr Singapore on a theoretical weight basis, up by $5-10 per tonne week on week. But this did not mean that spot prices had increased, according to sources."Demand for imported material is e...Read More

China's domestic rebar prices increased on Monday July 5 amid higher trading activity and stronger futures prices.DomesticEastern China (Shanghai): 4,870-4,900 yuan ($754-759) per tonne, up by 40 yuan per tonneMarket participants expect steel production to drop in the second half of this year to meet a target set late last year by the Chinese Ministry of Industry & Information Technology (MIIT).Th...Read More

Gerald Group's subsidiary SL Mining resumed loading iron ore for export in the Port of Freetown, Sierra Leone, West Africa, on Sunday July 4 2021, the London-based metals trader said this week.The company's first exports since June 2019, the "Marampa Blue" brand iron ore concentrate being shipped is more than 65% iron content and the unspecified volumes being transported will be taken from SL Mini...Read More

Iron ore prices were up on Monday July 5 with market sentiment improving because of the easing of restrictions in China's steelmaking hub of Tangshan, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $221.82 per tonne, up by $3.84 per tonne62% Fe low-alumina fines, cfr Qingdao: $223.14 per tonne, up by $3.57 per tonne58% Fe fines high-grade premium, cfr Qingdao: $184...Read More

China bucked the trend among major iron ore importers by continuing to increase its purchases of the steelmaking raw material from abroad in 2020.The country imported 1.17 billion tonnes of the iron ore last year, an increase of 9.4% compared with 2019.European Union countries collectively accounted for the largest decrease among major iron ore importers, with purchases tumbling 20.8% year on year...Read More

Export prices for steel slab from the Commonwealth of Independent States dropped in the week to Monday July 5 amid decreasing finished flat steel values in the region, as well as a possible increase in supply through July before Russia imposes an export duty on metal products in August."The price trend in hot-rolled coil has affected the slab sector. MMK [Magnitogorsk Iron & Steel Works] scared ev...Read More

CIS export billet prices fell on Monday July 5, with customers pushing for lower rates because Russian mills are now looking to sell volumes ahead the introduction of an export duty in August.On Friday June 25 the Russian government approved a temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU). The duties will apply from August 1 through to...Read More

Brazilian slab prices remained stable for the fourth consecutive assessment period in the week ended Friday July 2, with buyers and sellers continuing to dispute the price level.Fastmarkets' weekly assessment for steel slab, export, fob main port Brazil, was $980-1,000 per tonne fob on July 2, unchanged since June 4.A little activity was seen during the week, with the market beginning to transitio...Read More

Oil prices in the US are benefiting from more bullish news in the last week or so: Oil Prices Spike On Large Crude Inventory Draw https://oilprice.com/Energy/Crude-Oil...OPEC+ Fails To Hike Oil Production, Delays Decision Again https://oilprice.com/Energy/Oil-Price...Track the oil price for free here: https://oilprice.com/oil-price-charts/Track US oil rig count here: 1) https://rigcount.bakerhughe...Read More

Tim has on Glenn Greenwald for an Independence Day special. Watch the fireworks fly as they discuss Julian Assange, JFK, 9/11, Trump resisting the CIA, and Glenn's encounter with the Brazilian Wandering Spider.Glenn Greenwald is a journalist, constitutional lawyer, and author of four New York Times best-selling books on politics and law. His most recent book, "No Place to Hide," is about the U.S....Read More

American distrust of media, the government, and public health experts has never been lower. The lockdowns from 2020 are going to have lasting effects. You can't just take away people's freedom and expect everything to be fine. Our guest this week is Jeffrey A. Tucker, author of Liberty or Lockdown. He and your host, Dennis Tubbergen, talk about the effects of the public health takeover, the politi...Read More

Climate change is here - at least in the financial system. Fundamental fiscal and monetary policy shifts are creating an environment for high inflation, says Ronni St??ferle, author of the In Gold We Trust Report. He expects later this year a wage price spiral to be the "tipping point" resulting in higher inflation. By the end of the decade, Ronni forecasts gold could rise as high as $8,900 per ou...Read More

Jim Rogers is a highly respected and successful investor. His view is that sooner or later, inflation is inevitable, in light of the government's contemporary policies.Jim Rogers co-founded the Quantum Fund with George Soros in 1973, helping to steer the fund to a 4200% return before "retiring" at age 37. He is considered to be one of the greatest investors of all time. Rogers has made two record-...Read More

Aaron talks about the S&P 500 making new all time highs often now on low volume and also about the higher trading ranges in oil and natural gas prices. Aaron thinks there may be some short term backing and filling in oil and natural gas but a new bull market may have started. Aaron also talks about a 20% spread between July and December corn futures and how weird this backwardation is. To wrap up...Read More

This is painful to watch...Biden has to pull out notes to answer question on RussiaRead More

The end of the 20-year US war on Afghanistan was predictable: no one has conquered Afghanistan, and Washington was as foolish as Moscow in the 1970s for trying. Now, US troops are rushing out of the country as fast as they can, having just evacuated the symbol of the US occupation of Afghanistan, Bagram Air Base.While perhaps not as dramatic as the "Fall of Saigon" in 1975, where US military helic...Read More

The COVID-19 "vaccine" makers are now seeking full approval from the Food and Drug Administration. When (not if) that happens, businesses and schoolsContinue...Read More