Imagine how angry you'd be if you lost out on $200 billion.I'm not saying you missed the lottery, mind you. Instead, you're holding the winning numbers in your hand, then in one quick motion rip the ticket it up and toss it in the trash.You'd be fuming from that kind of lunacy.Don't worry; you're not alone.Well, that's exactly what Iran did.Except, its geological lottery ticket just happens to be...Read More
Today on INK Ultra Money Free we visit the oil patch and discover why politicians are failing so badly at dealing with climate change. It is a great time to focus on oil & gas because January is a seasonally weak month for crude. That means many oil & gas stocks go on a post-holiday sale. However, if Rob West is right, we could see a long-term shift in the narrative about the role of oil & gas in...Read More
Domestic prices for hot-rolled coil in Europe increased on Wednesday January 15, supported by a lack of competitive import offers and a seasonal recovery in demand, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was fairly stable at ?,?443.06 ($493.13) per tonne on Wednesday January 15, up by only ?,?0.36 per tonne from ?,?442.70 per to...Read More
European producers of heavy steel plate have increased their offer prices despite limited trading activity, sources told Fastmarkets on Wednesday January 15.Plate prices in Europe, particularly in the south where the majority of plate producers are re-rollers, have been driven upward by higher slab costs.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, wa...Read More
The domestic price of steel rebar in Northern and Southern Europe moved higher this week with mills trying to reflect the price rise in ferrous scrap in early December, which was yet to affect rebar prices, sources told Fastmarkets on Wednesday January 15. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?475-490 ($529-545) per tonne...Read More
The price of steel H-beams across Europe remained unchanged on Wednesday January 15, despite mill attempts to push through increases, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?550-570 ($612-634) per tonne on January 15, unchanged week on week."It's busy and there are price increases across product ranges," a distribut...Read More
- Peter DegraafA good place to start is at the seasonal tendencies for gold. There are seasons when gold drops in price, simply due to a lack of interest on the part of investors, and there are times when there is a seasonal tendency for investors to flock into the gold market. This chart courtesy goldchartsrus.com shows January is historically the best month for owning gold and gold produ...Read More
- Dave KranzlerGresham's Law in action: The diminishing availability of physical gold from the market (per several different accounts in London) corresponds to the proliferation of fiat currency printing and paper gold derivatives.Since September the Fed has increased the size of its balance sheet by $414 billion or 11% in less than four months. It's the fastest rate at which the Fed has print...Read More
By: Stefan Gleason, Money Metals ExchangeThe U.S. Treasury Department announced Monday that China is no longer on a list of countries deemed to be "currency manipulators." The timing was awfully convenient, coming just ahead of an expected Phase One trade deal between the two powers.Nobody actually believes China has stopped manipulating the value of its yuan versus the U.S. dollar.But the Trump...Read More
By: Craig HemkeThe battle continued in 2019, and rarely has the disparity been this sharp.And what do we mean?Well, on one hand, you have real physical gold. This is gold that you store yourself or at a trusted vaulting company. This is gold that you can actually hold in your hands. This is the gold that is demanded at record levels by central banks around the globe.On the other hand, we have pr...Read More
- Stewart Thomson, Graceland Updates 1. For the past few years, I've been suggesting that the world's ultra-wealthy investors have been buying enormous quantities of physical gold at a rate that overwhelms the commercial trader shorting on the COMEX.2. Please click here now. RT News highlights a wonderful chart produced by Goldman Sachs, and it likely proves that my theory is 100% cor...Read More
By: Ira EpsteinGold found support around $1,540. Pattern still bearish short-term, needs to get above $1,570. 18-DMA around $1538:Read More
On the face of it, the so called trade US-China trade deal looks a sham just to fool the voters. US treasury secretary has said that trade tariff's with China will be there until the second phase of the trade agreement. Trump's biggest vote bank is farming states. Energy companies have a history of funding Republicans. Chinese will be buying very large quantities to American farm produce and Ame...Read More
Hollow steel sections prices in Europe moved up this week, following increases from producers, market sources told Fastmarkets on Wednesday January 15.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?600-630 ($668-701) per tonne on Wednesday, up from ?,?590-600 per tonne one week previously.Various section producers have created new pric...Read More
Turkish steel producers continued to hold back from the deep-sea scrap markets in an attempt to push down prices while they struggled with weak demand and values for finished rebar, sources said on Wednesday January 15.The country's steel producers went through last week with only one deep-sea cargo bought, when a steel mill in the Marmara region booked a European cargo at an average price of $300...Read More
The seaborne iron ore index was rangebound on Wednesday January 15 amid tepid demand from steelmakers in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $96.44 per tonne, down $0.59 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $95.48 per tonne, down $0.59 per tonne.62% Fe low-alumina fines, cfr Qingdao: $97.11 per tonne, down $0.42 per tonne.58% Fe fines high-premium, cfr Qingda...Read More
The Chinese steelmaking industry will focus on six key areas in 2020 to maintain its structured and orderly development, China Iron & Steel Association (Cisa) chairman Gao Xiangming said in a speech at a conference last weekend.These are meant to round out the final year of China's 13th Five-Year Plan and contribute to the stable growth and reform of the Chinese economy.1. Maintain stable, efficie...Read More
China's domestic rebar market was flat on Wednesday January 15 amid inactivity, though export prices moved up further on a continued strengthening of the yuan. Eastern China (Shanghai): 3,640-3,670 yuan ($528-532) per tonne, unchangedNorthern China (Beijing): 3,540-3,560 yuan per tonne, unchangedBuyers have either suspended their business activity ahead of next week's Chinese New Year holiday or l...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday January 15. Key drivers The prices of ferro-titanium and titanium scrap markets were steady in the second week of January, a level it has maintained since December 18. Alloy suppliers achieved higher prices in the United Kingdom compared with deals done lower in the current range in continental Europe, although trading a...Read More
UnitedHealth (UNH) was a big post-earnings winner todayThe Dow locked up a solid win -- and fresh record intraday high -- after the U.S. and China made the "phase one" trade deal official. It was the blue-chip index's third straight win, with UnitedHealth (UNH) a big earnings winner today. The S&P 500 and Nasdaq both hit new record highs, as well. Although the text of the trade deal is yet to be r...Read More