(Reuters) - Top U.S. automakers reported an increase in June sales, as consumers continued to lap up sport utility vehicles in larger numbers amid rising tensions between the United States and its trade partners.The escalating tensions led to a fall here in U.S consumer confidence in June, and weighed on purchase plans for big-ticket items such as automobiles.No. 1 U.S. automaker General Motors...Read More
A leading Japanese steel major has hiked its offers for August-shipment hot-rolled coil (HRC) to $660-665 per tonne cfr Southeast Asia after market sentiment turned bullish.It is offering base-grade HRC at $660 per tonne and SS400 HRC at $665 per tonne to Malaysia. It is offering base-grade HRC at $660 per tonne and SAE1006 HRC at $665 per tonne to Indonesia. It is not offering any HRC to Vietnam....Read More
BRUSSELS (Reuters) - The Trump administration has included Britain, Washington’s most loyal battlefield ally in the wars in Iraq and Afghanistan, among countries being sent letters rebuking them for spending too little on their militaries.Secretary of Defense Jim Mattis threatened to replace Britain with France as its main military ally unless London ramps up its defense spending, in a lette...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump said on Tuesday that talks with North Korea were “going well” as U.S. officials seek to reach an agreement with Pyongyang over a denuclearization plan following last month’s summit between Trump and North Korean leader Kim Jong Un.The White House has characterized ongoing meetings as positive but not commented on recent news repo...Read More
China's ferrous futures retreated across the board during morning trading on Tuesday July 3, especially the steel contracts, amid weakness in the physical markets.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,723 yuan ($562) per tonne, down 46 yuan per tonne October hot-rolled coil: 3,835 yuan per tonne, down 37 yuan per tonne Dalian Commodity Exchange Septemb...Read More
BERN (Reuters) - President Hassan Rouhani appeared on Tuesday to threaten to disrupt oil shipments from neighboring countries if Washington presses ahead with its goal of forcing all countries to stop buying Iranian oil.The comments, published on Iran’s presidential website on Tuesday and partially repeated at a later news conference in Switzerland, could be open to interpretation. However,...Read More
WASHINGTON/NEW YORK (Reuters) - U.S. President Donald Trump said he met with four potential Supreme Court justices on Monday, while a person familiar with the selection process said Trump was focused keenly on two people, although others were still in contention.Trump told reporters at the White House that he will meet with “two or three more” candidates to replace Justice Anthony Kenn...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transactions: rebarRebarOman, export, rebar, traded at $615-620 per tonne cfr, theoretical weight, to the UAE.Oman,...Read More
(Reuters) - U.S. stock index futures rose on Tuesday, boosted by a jump in oil prices and early gains in big technology stocks.Oil prices climbed more than 1 percent after Libya declared force majeure on significant amounts of its supply, though rising overall U.S. and OPEC output dragged on markets. [O/R]But the specter of trade turbulence continued to loom over the markets, with President Donald...Read More
Novolipetsk Steel (NLMK) has reduced its rebar prices for Russia's Central region, following similar action by fellow steelmaker Severstal, which decreased its offers last week.Metal Bulletin's domestic prices for Russian 12mm A500C rebar narrowed downward on July 2 by 1,000 roubles per tonne to 37,000-37,500 roubles ($585-593) per tonne cpt Moscow, including...Read More
WASHINGTON/BRUSSELS (Reuters) - U.S. President Donald Trump warned the World Trade Organization on Monday that “we’ll be doing something” if the United States is not treated properly, just hours after the European Union said that U.S. automotive tariffs would hurt its own vehicle industry and prompt retaliation.Trump, speaking to reporters during a meeting with Dutch Prime Minist...Read More
CIS export rebar and wire rod prices remained largely unchanged in the week ended Monday July 2 because buying activity was reduced.Metal Bulletin's weekly assessment of rebar export prices from the CIS widened downward by $5 per tonne to $545-575 per tonne fob Black Sea on July 2.There were not many offers of rebar because most mills have almost closed their order books for July.Several market pa...Read More
July 3 (Reuters) - Futures pointed to a higher opening for Canada's main stock index on Tuesday as oil prices gained after Libya declared force majeure on some of its crude exports and loss of Canadian supplies lifted U.S. crude price.Libya's National Oil Corp declared force majeure on loadings from Zueitina and Hariga ports, resulting in 850,000 bpd of supplies being disrupted.Production at Syncr...Read More
LONDON (Reuters) - Oil prices rose on Tuesday after Libya declared force majeure on some of its crude exports, while the loss of Canadian supplies helped lift U.S. crude to 3-1/2-year highs.U.S. light crude CLc1 jumped 99 cents, or 1.3 percent, to $74.93 a barrel, its highest since November 2014, before easing back to $74.79, up 85 cents, by 1120 GMT.Benchmark Brent crude oil LCOc1 was up 70 cents...Read More
Please Note: US markets are closed tomorrow for Independence Day. CloseGain/LossGold $1252.90+$12.70Silver$16.01+$0.16XAU82.87+2.17%HUI177.08+2.07%GDM626.20+1.68%JSE Gold1072.39+12.19USD94.57-0.42Euro116.64+0.42Yen90.55+0.28Oil$74.14+$0.2010-Year2.829%-0.035T-Bond145.4375+0.6875Dow24174.82-0.54%Nasdaq7502.67-0.86%S&P2713.22-0.49% The Metals: Gold chopped near unchanged in Asia, but it the...Read More
By Craig HemkeIt has been a painful start to the summer for gold traders and investors, particularly for yours truly. Though we anticipated the correction that began back in April, we never fully expected it to extend for as long and as deep as it has run. However, this post from mid-May clearly lays out that $1235 COMEX gold was at least a "possibility". o https://www.sprottmoney.com/Blog/the-g...Read More
Beginning in early Spring, gold and silver faced two serious headwinds: Seasonality - that is, the annual decline in bullion demand from China and India once wedding season ends - and the internal structure of the futures markets, where the big players in gold had lined up in ways that historically point towards weak prices for a while. Both of these negatives are still in place (hence the smack...Read More
Graceland UpdatesBy Stewart Thomson 1. Charts don't make fundamentals, but fundamentals do make charts. That's because market fundamentals create liquidity flows. Those liquidity flows create technical action on the charts.2. Please click here now. Double-click to enlarge this important daily gold chart.3. When market technical indicators like RSI, MACD, and Stochastics...Read More
By USAGOLDSummer, 2018 On the law of long-term time preference and gold ownership"The Law of Long-Term Time Preference - Those who plan, invest and execute long-term win. Win-win decisions, looking to the long term with short-term work and sacrifice, are historically the tickets to success in all areas of life - short-term sacrifice for long-term benefits, deferred gratification rather than inst...Read More
By Steve St. AngeloThe world is standing at the edge of the financial abyss while most investors are entirely in the dark. However, specific indicators suggest the market is one giant RED BLINKING LIGHT. One of these indicators is the amount of margin debt held by investors. What is quite surprising about the level of investor margin debt is that it has hit a new record high even though th...Read More