Domestic prices for hot-rolled coil in Northern Europe dropped further during the week to Friday May 22, due to low trading activity.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?407.50 ($443.92) per tonne on Friday, down by ?,?4.38 per tonne week on week and down by ?,?37.50 per tonne month on month.Friday's index was calculated based on deals and "workable...Read More
Domestic prices for hot-rolled coil in Northern Europe were unchanged day on day on Tuesday May 26 while trading activity remained low, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe held at ?,?407.50 ($447.03) per tonne on May 26, flat from Friday May 22.Tuesday's index was calculated based on deals and "workable" prices heard at ?,?400-410...Read More
Oversupply in the steel rebar market in Russia's Central Federal District around Moscow is a cause for concern, sources told Fastmarkets on Tuesday May 26, although prices remained largely unchanged week on week. Construction, the key consumer, was still running slowly after a gradual restart in the wake of the Covid-19 lockdown restrictions, sources said"Yes, the construction activity has im...Read More
Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite there being no upward movement in their steel sales prices, sources in Japan have told Fastmarkets.On Tuesday May 26, key EAF mill Tokyo Steel raised its bid price for steel scrap by ?500 ($5) per tonne at all its steelworks except in Tahara, wh...Read More
China's domestic rebar prices fell on Tuesday May 26, due to reduced demand caused by the heavy rains in most regions of the country. Domestic Eastern China (Shanghai): 3,520-3,550 yuan ($493-498) per tonne, down by 20 yuan per tonne The heavy rains started late last week in southern China and the weather forecast suggest it will extend to most regions this week and that h...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 26 that are worth another look.Workers at Tata Steel's plant at IJmuiden in the Netherlands staged a lightning protest on May 26, but output was unaffected, the company said.Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite t...Read More
Mexican ferrous scrap prices were on opposite paths in the week ended Friday May 22, with prices rising in some deals due to a scarcity of material while others fell due to currency moves.Prices for three grades of scrap increased in Monterrey, with at least one client heard quietly purchasing small volumes of specific grades at higher prices.A second client was also considering future price...Read More
Turkish deep-sea scrap import prices remained broadly stable on Tuesday May 26 after news of a fresh cargo came to light. The transaction which came to light on Monday was sold either on Sunday May 24 or Monday May 25, sources said. The market was relatively quiet at the beginning of the week due to a public holidays in many countries on...Read More
By Stefan GleasonThe China virus, the economic lockdowns, and the multi-trillion-dollar rescue efforts of central bankers have dominated markets over the past three months.However, as lockdowns gradually lift and the 2020 election draws nearer, investors will begin to focus more on political developments.The once-strong economy that President Donald Trump had hoped would propel him to re-electio...Read More
Graceland Updates By Stewart Thomson 1. Gold drifts sideways in typical weak season trading, silver looks better, and the miners look awesome!2. Please click here now. Double-click to enlarge this gold chart. It's clear that both upside and downside breakouts are failing, and the gold price continues to ooze sideways. 3. A rectangle pattern is in play. The good news is t...Read More
StrengthsThe best performing metal this week was platinum, up 5.65 percent, due to stronger retail buying. Gold and silver rose on Friday morning on safe haven buying. U.S.-China relations remain tense and China announced that it will impose new security laws on Hong Kong. Palladium rose the most since March, holding above $2,000 an ounce on Monday, due to renewed optimism about China's economy...Read More
Keith Weiner, Monetary MetalsThe price of gold dropped a few bucks this week, but the price of silver jumped about half a buck. The drumbeat for the gold bull market is well underway, and it is beginning now for silver. So let's do a quick update on the supply and demand fundamentals.Here is the graph of the gold basis.The basis has come in quite a bit but it is still 3.6% annualized. We do not...Read More
A recent newspaper article about superspreaders -- stadium events, concerts and outdoor festivals that effectively bathe crowds in Covid-19 -- noted that a boisterous fan can spew viral particles that remain airborne for as long as 12 minutes. There's additional evidence that when we steep in this microscopic spume for a couple of hours as occurs when crowds are densely seated, it increases t...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 26 that are worth another look.Workers at Tata Steel's plant at IJmuiden in the Netherlands staged a lightning protest on May 26, but output was unaffected, the company said.Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite t...Read More
CIS export slab prices have continued to climb in the second half of May, supported by Turkish customers accepting higher-priced deals.A 30,000-tonne cargo of Ukrainian slab was reported sold last week at $360 per tonne cfr Turkey, equivalent to around $350 per tonne fob Black Sea, sources told Fastmarkets.Turkish customers accepted higher slab offers following a surge in domestic and export...Read More
*The interview begins at 1:32:35Max Keiser is a former stockbroker and an American broadcaster and film-maker. He hosts Keiser Report, a financial program broadcast on RT. Keiser invented "Virtual Specialist Technology," a software system used by the Hollywood Stock Exchange. Prior to inventing this technology, he worked on Wall Street where he began working after graduating from NYU. With the hel...Read More
We live in a huge misallocation of resources. They focus on geopolitics not on the basic safety of citizens.Nassim Taleb spent 20 years as a derivatives trader and, after closing 650,000 option transactions and examining 200,000 risk reports, he changed careers in 2006 to become a scholar and philosophical essayist. Taleb is currently Distinguished Professor of Risk Engineering at New York Univers...Read More
Today, US deaths from covid-19 crossed above 100,000. The worldwide casualties (that we know of) now exceed 350,000. Whether or not we as a society can agree on the health risks of covid-19 or whether the national lockdowns it has triggered are worth the resulting economic damage, hopefully we can all agree that the global death toll from the pandemic is tragic. Meanwhile, battle lines are being d...Read More
The DTCC is tasked with settling more than 500 million stock trades a day. If they aren't doing so, you don't own what you think you own, and it could cost you everything. Bix Weir joins SGT Report to cover REAL NEWS the mainstream media won't touch.Bix Weir has 30 years' experience in the financial industry with various fortune 500 companies. He is the creator of the "Road to Roota Theory" and hi...Read More