Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Hot off a 1.4% move the week prior, the INK CIN climbed as high as 1172.88 intraday last week, but ultimately ran out of steam and settled at 1169.49 for a loss of 2.74 points.MACD slipped 1.3 to -1.6. RSI cooled off to 71. Of note, RSI appears to be sitting comfortably at an elevated +65...Read More
Here are five Fastmarkets MB stories you might have missed on Monday December 9 that are worth another look.Brazilian steel demand is set to grow in 2020 and support higher domestic prices, Companhia Sider??rgica Nacional (CSN) said in a presentation filed with securities commission CVM.Rising secondary aluminium prices in Asia helped drive European secondary aluminium ingot prices up last week fr...Read More
Brazilian steel demand is set to grow in 2020 and support higher domestic prices, Companhia Sider??rgica Nacional (CSN) said in a presentation filed with securities commission CVM.The company expected flat-rolled steel apparent consumption to total 12.92 million tonnes next year, rising by 4.7% in comparison with an estimated 12.34 million tonnes for 2019.Most of that growth would come from a 10%...Read More
Import prices for rebar in Singapore climbed over the past week because of slight pick-up in buying interest, reflecting continued increases in the costs of steelmaking raw materials.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore, which mainly looks at cargoes sold into Singapore on a theoretical-weight basis, was at $435-440 per tonne in the week to M...Read More
Turkish steel producers continued their deep-sea scrap purchases at the beginning of the week at strengthening prices, sources said on Monday December 9.A steel producer in the Izmir region booked a Baltic Sea cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $289.25 per tonne and 5,000 tonnes of bonus at $299.25 per tonne cfr.This compares with the previous Baltic Sea...Read More
- Dave KranzlerPressures are already building on the financial stability front that will make the next economic downturn messier than anticipated." - Bill Dudley, former President of the NY FedI get irritated when I see mainstream media and alternative mainstream media parroting the propaganda used to cover up the truth. This morning Zerohedge echo'd the "corporate tax payments liquidity sq...Read More
StrengthsThe best performing metal this week was palladium, up 2.04 percent as hedge funds increased their net-long position in the futures market to a five-week high. Gold traders and analysts are mostly bullish going into next week in the Bloomberg survey amid mixed signals over progress in the U.S.-China trade war. The yellow metal climbed sharply early in the week after President Trump sai...Read More
NEWS &VIEWSForecasts, Commentary & Analysis on the Economy and Precious MetalsCelebrating our 46th year in the gold businessDecember 2019"Gold is set to join the all-time-highs club." - Mike McGlone, Bloomberg IntelligenceWhat we said then. What we say now.Michael J. Kosares, USA Gold- REVIEW & OUTLOOK -January 2019 headline article -Will 2019 be the year of the big breakout for gold?WHAT WE S...Read More
"There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."What the heck did John Maynard Keynes mean by saying this? Overturning the existing basis of society?! Let's begin by sta...Read More
By: Ira EpsteinGold's monthly momentum turning down. At the moment stepped out of the uptrend, but a bullish crossover..Read More
Look at US economy in totality and not just the job creation. Job creation has to be supported by other factors like consumer spending, confidence among other factors. Christmas and early January is a global cyclical period of high consumption and hence higher jobs. US job market and global jobs market on or from February of next year will be the key. December-January trend in global jobs market...Read More
Turkish domestic scrap prices have gone up once again this week on the back of rising imported scrap values, sources told Fastmarkets on Monday December 9.Steel producers and a major scrapyard all increased their buying prices for auto bundle scrap by 45-120 Turkish lira ($8-21) per tonne over the past week because of costlier imports.Fastmarkets' daily index for steel scrap, HMS 1&2 (80...Read More
Stable Prices, SometimesDeaths of DespairRadical SolutionsIt's All Relative...Angst-Ridden VotersAccording to the dictionary, the word angst refers to "a feeling of deep anxiety or dread, typically an unfocused one about the human condition or the state of the world in general." It comes from a German word for "fear."Two weeks ago I referred back to my 2017 Angst in America series. "Deep anx...Read More
Turkish steel producers stayed out of the deep-sea scrap market on Friday December 6 after booking several cargoes earlier in the week to push prices up by more than $10 per tonne since Monday, sources told Fastmarkets.No new cargoes have been booked or come to light during the last two days of the working week. On Monday, it emerged that a steel mill in the Marmara region had booked a U...Read More
What does it mean when the Fed and other central banks jointly bemoan the effects of their own policies? Worried about not being able to keep all the plates spinning?Wolf Richter is the founder of Wolf Street Corp and the publisher of WolfStreet.com. Wolf has over twenty years of C-level operations experience, including turnarounds and a VC-funded startup. He has a BA, MA, and MBA (UT at Austin)....Read More
Harley Schlanger's work can be found at LaRouchePAC.com.Read More
Dozens of countries around the world are seeing massive social unrest. The foundation of the movement is freedom and income inequality. No more central planning and no more government control over individuals. The people in Hong Kong are fighting for their lives. Gerald explains why the Chinese have not shut down HK's massive civil unrest. In Spain it's Catalonia. The list goes on and on. All arou...Read More
*the interview begins at 0:52Mohamed El-Erian unpacks the major risks within Europe's economy. Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a global investment firm and one of the world's largest bond funds in the world. Dr. El-Erian also served as a member of the faculty of Har...Read More
The gold stocks are setting up for a very good 2020. The current correction is not over but all the indications are that once it ends, gold stocks could begin an impulsive advance.Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock sel...Read More
In the interviews, more than 400 insiders offered unrestrained criticism of what went wrong in Afghanistan and how the United States became mired in nearly two decades of warfare. Continue...Read More