Here are five Fastmarkets stories you might have missed on Thursday May 7 that are worth another look.The European Commission (EC) might start an anti-dumping case into imports of hot-rolled coil originating from Turkey, market sources told Fastmarkets on Thursday May 7.Mining companies are looking to trading houses and specialist funds for credit since lower metal prices and enforced shutdowns ha...Read More
They didn't want me to write this article.They said it would be deemed politically incorrect and could offend a lot of people.But here's the thing...I don't care. While my intention is not to offend anyone, I'm not going to trivialize the truth in an effort to placate those who are easily offended. Especially not this truth...China Screwed Us Was COVID-19 spawned in a wet market or in a biotec...Read More
Sometimes Real Vision gets a reputation for being bearish. In fact, is it is really some of the guests that bring the bearish perspective. Yesterday, in Real Vision's Daily Briefing we heard a short-term bullish perspective from Tony Greer. It is worth a listen to get his take on what is driving markets. We have Tony's interview for free for all users and a lot more today on INK Ultra Money.Canad...Read More
Turkish domestic prices for hot-dipped galvanized coil (HDG) and color-coated coil continued to fall in the week to Thursday May 7, with buying at a low ebb, sources told Fastmarkets.Demand was weak in both local and export markets, and few deals were heard.Scrap prices were stable during the week because of the subdued market activity.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix),...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Thursday May 7 due to slow trading activity, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?420.83 ($455.03) per tonne on Thursday, down by ?,?0.67 per tonne from ?,?421.50 per tonne on Wednesday.Thursday's index was calculated based on "achie...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 7 that are worth another look.The European Commission (EC) might start an anti-dumping case into imports of hot-rolled coil originating from Turkey, market sources told Fastmarkets on Thursday May 7.Mining companies are looking to trading houses and specialist funds for credit since lower metal prices and enforced shutdowns ha...Read More
The US Department of Commerce has initiated anti-dumping and countervailing duty investigations into imports of pre-stressed concrete steel wire strand from 15 countries. Argentina, Colombia, Egypt, Indonesia, Italy, Malaysia, the Netherlands, Saudi Arabia, South Africa, Spain, Taiwan, Tunisia, Turkey, Ukraine and the United Arab Emirates will be investigated for dumping, and Turkey will be invest...Read More
Declining market activity due to the ongoing Covid-19 pandemic and competitively priced imports worked in tandem to lower steel reinforcing bar prices in the United States, market participants said. Fastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US narrowed lower to $29-29.50 per hundredweight ($580-590 per short ton) on Wednesday May 6, down from $29-30 per cwt pre...Read More
The price of alloy steel scrap in the United Kingdom and Europe moved up this week on low availability and slightly higher nickel costs, Fastmarkets heard on Thursday May 7. Fastmarkets' weekly assessment for stainless steel scrap 18/8 solids domestic, delivered merchants UK was ?730-800 ($902-988) per tonne on May 7, up by ?30-50 per tonne since May 1. With important sources of stainless steel...Read More
By Dave Kranzler"If you own gold, you have money. If you don't own gold, you have a problem" - (James Turk). To that I'll add: If you don't have physical possession of your gold, you do not own goldA significant amount of gold is held as "unallocated," which is when an entity buys gold and establishes an account that is credited with value of the gold purchased. A gold bar is not actua...Read More
By: Ira EpsteinHow many small to medium sized companies go bankrupt? Restaurants in some areas will not open until late June. How will they survive?The retreat in gold is mild..Read More
It is still a range trade for gold and silver. Crude oil is rising. Copper is firm. There are buyers of physical gold ready to pay a higher premium on corrections. There are investors of gold using every small correction to invest. Gold prices are range trading. Gold bears are not holding ground. Short term silver traders are booking profit on every rise. Long term investors and physical dealers...Read More
The price of ferrous scrap imported into India was largely stable in the week to Thursday May 7 with trading activity still on hold while a lockdown remained in place for many parts of the country, sources have told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $257.98 per tonne on Thursday, broadly stable from $259.38 per tonne on May 1.Al...Read More
Turkish steel mills stayed away from deep-sea scrap purchases on Thursday May 7 due to weak finished long steel demand in the country's export markets, sources said.Steel producers in Turkey have avoided the deep-sea markets since the end of last week, when a steel mill in the Iskenderun region booked a European cargo at $236 per tonne cfr for HMS 1&2 (80:20) and $246 per tonne cfr for bonus, send...Read More
While global long steel production is expected to recover quicker than demand, which could put pressure on market prices, the outlook for the next quarter is unstable due to a lack of demand and low pricing, the International Rebar Producers & Exporters Association (Irepas) said this week.Supply and demand have worsened in the European Union due to a lockdown among most world economies.It is...Read More
Demand for imported steel billet and domestic steel reinforcing bar (rebar) in Egypt remained weak in the week to Thursday May 7, with no improvement anticipated soon due to the Islamic holy month of Ramadan and the Covid-19 pandemic, sources told Fastmarkets.No new billet deals were heard over the past week, sources said.Ramadan, traditionally a slow month for trade in Muslim countries, bega...Read More
Trading activity in the Commonwealth of Independent States' export billet market switched to China in early May, while other outlets remained quiet due to the religious holidays in the Middle East, Africa and part of Asia as well as the effects of the Covid-19 pandemic.A 40,000-tonne cargo of Russian billet was reported sold to China through a trader at slightly below $370 per tonne cfr, equivalen...Read More
While the broader markets have seen sharp declines, Frank Holmes, CEO and chief investment officer of U.S. Global Investors, homes in on gold, gold stocks and bitcoin, and gives his prognosis for the airlines. Streetwise Reports: Let's start with gold, which has seen an impressive rise in the last few months as the broader markets have declined on the back of the coronavirus pandemic. What do you...Read More
Goldcliff Resource also acquires 16 claims to expand its property there. Goldcliff Resource Corp. (GCN:TSX.V; GCFFF:OTCBB) made a new discovery of gold mineralization upon drilling at its Nevada Rand property in Nevada, it announced in a news release. The broad zone of mineralization demonstrated gold grades between 0.18 and 1.19 grams per ton. The zone is located at a vertical depth of only 63.0...Read More
Black Tusk Resources has expanded the land package around its PG Highway Property's Palladium/Platinum Group Elements project to 20 claims covering 1,052.3 hectares. In a news release, gold exploration company Black Tusk Resources Inc. (TUSK:CSE; BTKRF:OTCMKTS; 0NB:FSE) announced that "after recently completing all data compilation, Black Tusk management team has decided to increase the land pack...Read More