Sellers turned gutless Wednesday night after swinging a wrecking ball for most of the day. Shortly before midnight, index futures were trading moderately higher. Usually, prices move at night only when impelled by news that makes buying or selling over short stretches nearly riskless. It wasn't news that sent the Dow Industrials plummeting nearly a thousand points over the last two days, howev...Read More
Turkish steel mills have continued to book deep-sea scrap cargoes for November deliveries, with prices recovering slightly on improving sentiment, sources said on Thursday October 3.A steel mill in the Marmara region booked a European cargo, comprising 20,000 tonnes of HMS 1&2 (75:25), 5,000 tonnes of shredded and 5,000 tonnes of bonus at an average price of $225 per tonne cfr.The price of the HMS...Read More
The increase in global freight rates caused by tighter emissions control regulations is putting pressure on steel product exporters already facing reduced demand and falling raw materials and steel prices, Fastmarkets has learned. From January 1, 2020, new International Maritime Organization (IMO) regulations come into force to help reduce air pollution from ships globally. Kno...Read More
Mike "Mish" Shedlock is a registered investment advisor and representative for Sitka Pacific Capital Management. His articles about the the economy and investing online can be found at Mish Talk. Read More
(Recorded Sep 30, 2019) Why is the Fed rushing emergency injections of $75B per day into the banking system through bond repos, if we are supposedly "not in a crisis?"AlasdairMacleod, head of research at GoldMoney.com, returns to Reluctant Preppers to lay out his analysis that indicates Deutschebank as the most likely target of this extraordinary bailout. Macleod expounds further on what this mass...Read More
What laws are currently in place regarding government power over gold and numismatic and/or certain collectible coins? What legal precedence establishes what is considered "rare and unusual"? How might the past influence the future? The following link is for you to verify and access all the facts, so you can formulate a highly educated opinion.Link to Facts/Slides + Video:https://www.itmtrading.co...Read More
"Your app contains content - or facilitates, enables, and encourages an activity - that is not legal ... Specifically, the app allowed users to evade law enforcement."@Apple assume our user are lawbreakers and therefore evading law enforcement, which is clearly not the case.Continue...Read More
Twitter removed a viral meme posted by the President which poked fun at Joe Biden and his son's business dealings in UkraineContinue...Read More
Pity the guys now running the Fed. They've inherited an economy that requires ever-bigger infusions of new credit and ever-lower interest rates to avoid financial cardiac arrest. Continue...Read More
The current low rate environment is creating malinvestment and economic anomalies wherever you look. From 8-9 year auto loans, to distorted real estate markets, it's all over the economic landscape. The cure is coming and it may well be worse than the disease, at first anyway. Transitions to new economic systems are always disruptive and often unpleasant. But change is coming and you can either go...Read More
Earlier this week I read a great article by Kuppy at Adventures In Capitalism. It brought back memories of the last condo and real estate bubble in Miami... I was there. I was moving toContinue...Read More
A fresh wave of fear that the U.S. economy, as well as the global economy, will contract in the months ahead Continue...Read More
Seaborne iron ore prices stayed flat on Thursday October 3, with Chinese market participants absent due to the week-long public holiday in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.38 per tonne, unchanged.62% Fe Pilbara Blend fines, cfr Qingdao: $92.91 per tonne, unchanged.62% Fe low-alumina fines, cfr Qingdao: $91.72 per tonne, unchanged.58% Fe fines high-pre...Read More
Turkish domestic and export prices for steel billet have gone down amid soft demand over the past week, while import billet prices mostly remained stable, sources said on Thursday October 3.Fastmarkets' weekly price assessment for steel billet, domestic, exw Turkey, was $360-375 per tonne on Thursday, down from the $380-390 per tonne of last week.Interest in the material was limited because of the...Read More
Prices for steel billet and rebar in Egypt fell in the week to Thursday October 3, on still-limited domestic demand, sources told Fastmarkets.However, Egyptian steel production is expected to increase because of reduced production costs in the country. "Egyptian prime minister Mostafa Madbouly approved the recommendations of a consultancy committee to reduce natural gas prices to some industries -...Read More
The drill results are relayed and interpreted in a Haywood report. In a Sept. 27 research note, Haywood analyst Geordie Mark reported that Luminex Resources Corp. (LR:TSX.V; LUMIF:OTCMKTS) continues to show continuity of high-grade epithermal gold mineralization at its Condor gold-copper project in Ecuador.Mark reviewed results from the latest two holes, CC19-07 and CC19-08, drilled in the Camp z...Read More
The increase in global freight rates caused by tighter emissions control regulations is putting pressure on steel product exporters already facing reduced demand and falling raw materials and steel prices, Fastmarkets has learned. From January 1, 2020, new International Maritime Organization (IMO) regulations come into force to help reduce air pollution from ships globally. Kno...Read More
Fastmarkets looks at the key takeaways from the annual Fastmarkets North American Ferro-alloys conference in Chicago on September 25-27. Slowing economic, steel production growth will weigh on ferro-alloys prices Ferro-alloys prices will continue to fall going into 2020 because of slowing economic growth and falling steel production, Fastmarkets analyst Amy Bennett told delegates in Chicago last w...Read More
The focus turned to more potential rate cuts after a weak ISM services index readingU.S. stocks notched modest gains today after suffering heavy losses through the first two sessions of the week. The Dow finished 122 points higher, as rising expectations for another Fed rate cut helped to boost investor sentiment following this morning's decline in the ISM services index. Meanwhile, the S&P 500 al...Read More
Investors will receive the September PPI and CPI readingsThere a few notable events on the upcoming slate for economic data, including Tuesday's producer price index (PPI) update and the release of the Fed meeting minutes from September. But the main focus will likely be the trade talks between the U.S. and China. The two countries are finally scheduled to meet in Washington, D.C., on Thursday, li...Read More