Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort288,14850,23439,951131,977406,299460,076496,484Change from Prior Reporting Period -7,2466,628706-1,738-17,590-8,278-10,256Traders20761815660291177 Small Speculators (C) GoldSeek.com LongShortOpen Interest 59,29822,890519,374 -5531,425-8,831 non reportable positionsChange from...Read More
Avi GilburtFor those that do not know, Carolyn Boroden (The Fibonacci Queen) has joined the analyst team at Elliottwavetrader. So, she and I are endeavoring to present our combined perspectives to outline our general expectations over the coming weeks, as we begin this series of articles.There are times when the market provides us with clear indications. And, as proceeded through March, Caro...Read More
Last day of the month. Just trade in the technical. Trump and China news will affect markets today. Economy will be on focus from next week. Nations have started opening from May month. Next week will tell us whether over optimism has been factored in by current stock rise and crude oil. Silver and copper are bullish. Nickel will break free from the recent consolidation phase and form a new rang...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
Mining and recycling operations were curtailed nearly everywhere late in the March-quarter owing to widespread lockdown restrictions, resulting in a 3% year-on-year slide to the lowest production since 2015. It was also the largest year-on-year fall since the first quarter of 2017, however, the decline was "relatively modest" given the scale of the pandemic.Gold production in China, South Africa a...Read More
The Turkish steel producers resumed their deep-sea scrap purchases after the post-Ramadan holiday break with prices going up, while demand in Asia was also firm during the working week ended Friday May 29.Turkish steel mills booked six deep-sea cargoes at higher pricesUS exporters are working to fill sales from both West and East CoastsImport scrap prices in Vietnam rise, outlook unclearTight supp...Read More
The price of shredded ferrous scrap imported into India in containers moved up on Friday May 29, on growing interest from mills returning to the market for the first time since the Covid-19 lockdown, sources told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $275.21 per tonne on Friday, up from $266.67 per tonne a week earlier. Many market...Read More
The inter-merchant spot price for light iron scrap in the UK has moved higher by ?5 ($6) per tonne in the week to Friday May 29, the first price movement in May. Reduced arisings from scrap generation amid a slump in manufacturing and construction is outweighing slow demand from steelmakers.The price move may extend into monthly steel scrap delivery prices to consumers in the UK steel sector, wit...Read More
Broader markets were generally weaker this morning, Friday May 29, while they wait for what United States President Donald Trump's response will be to China's plans to impose national security laws in Hong Kong. The base metals were mixed, however. On the Shanghai Futures Exchange only the lead contract was showing price falls, while most of the base metals traded on the London Metal Exchange were...Read More
Fastmarkets is proposing to amend the specifications of cobalt hydroxide prices in order to reference a threshold for maximum iron content.Following an initial discussion with market participants, Fastmarkets is proposing to tighten the chemical specifications of the cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low end) and the c...Read More
To pay for their governments' skyrocketing COVID-19 bills, central banks around the world are expanding their money supplies at a historic rate, triggering fears of high inflation and prompting big expectations for gold prices.In America, the Federal Reserve has added nearly $2.25 trillion to the U.S. money supply (as measured by M2) over the past 10 weeks alone.The Fed has done more in response t...Read More
Concerns over the availability of nickel for the battery sector increase from 2022, when electric vehicle (EV) growth picks up again after a period of weak consumer confidence caused by Covid-19, according to a poll conducted during a Fastmarkets webinar.About 44% of respondents to a poll at the end of the webinar said nickel was the battery raw material with which they were most concerned about s...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.US demand shrinksDemand projections call for a continued retreat in US electric-resistance welded (ERW) line pipe and oil country tubular goods (OCTG) consumption as drill rigs and the number of wells drilled per rig are cut. Project demand in the large-diameter line pipe market is also shrinking with deferred or canceled pro...Read More
Domestic prices for hot-rolled coil in Northern Europe went down day on day on Friday May 29 due to poor demand.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?400.71 ($442.31) per tonne on Friday, down by ?,?6.17 per tonne day on day from ?,?406.88 per tonne ex-works on Thursday.Friday's index was calculated based on deals and "workable" prices heard at ?,?39...Read More
In the latest Canadian Insider Insights, we explain why the recent price action in silver is an encouraging sign for the G-economy scenario characterized by government led inflation. We also look at what stocks are leading the oil patch in its remarkable share price recovery.Today, INK Ultra Money has us asking did a negative oil price mark the bottom of the big secular commodity bear market? Lis...Read More
On Wednesday, we released our INK May Top 20 Gold & Precious Metals Report. This month we ran into a nice problem, at least if you are a precious metals mining investor. We had so many mining stocks with Sunny INK edge outlooks, they could not all make it into the Top 20.We are running into this situation of a surplus of names more frequently. We seem to be entering a new golden period for miners...Read More
The export price for hot-rolled coil from India has fallen by $10-25 per tonne with mills booking large tonnages to China and South-East Asian countries.The price of steel HRC (commodity), export, fob main port India, was assessed by Fastmarkets at $395-415 per tonne on Friday May 29, down from last week's assessment at $420-425 per tonne.Market participants have attributed the fall in price to...Read More
The United States will continue its anti-dumping and countervailing duty investigations into imports of pre-stressed concrete steel wire strand from 14 countries and the island of Taiwan, according to an announcement by the US International Trade Commission (ITC)."The United States International Trade Commission... determined that there is a reasonable indication that a US industry is materia...Read More
Both domestic and imported steel beam prices in the United States were unchanged in May on persistent lower demand. Fastmarkets' monthly price assessment for steel beams 8 x 8-inch, fob mill US held at $35.25 per hundredweight ($705 per short ton) on Thursday May 28; the price fell to that level on April 30 after remaining at $36.50 per cwt since January 30.Fastmarkets' monthly price assessment fo...Read More