Metal Bulletin reviews the major stories that have affected the steel market over the past week.Iron ore prices recovered to $65 per tonne cfr China on Thursday March 29, despite limited physical trading in China, after reaching $63 per tonne on Wednesday.Fortescue Metals Group (FMG) has revised its guidance for the prices it expects to realize for iron ore sold in the year ending June 30, amid su...Read More
Back in the 1990s, critics of the dot-com bubble used to point out that the global economy depended on the US stock market and the US stock market depended on, like, ten Internet stocks with negative aggregate earnings. The resulting inverted financial pyramid was, the critics claimed, very easy to tip over.They were right of course. But apparently not right enough to keep us from repeating the...Read More
The tech stocks have been two of the best second-quarter performers in the last decadeIt's been a tough month for tech stocks, with the Nasdaq Composite (IXIC) on track for its biggest monthly loss since January 2016. Yesterday, Apple suppliers Broadcom Ltd (NASDAQ:AVGO) and Skyworks Solutions Inc (NASDAQ:SWKS) each gave back around 3% -- sinking in step with the tech titan, after analysts express...Read More
Jim, Evan and Phil revisit Grant's 2017 bearish analysis of Facebook, with historical analog.2:05 "Sell Coke" 19966:06 Paul Fusselll and human folly10:41 Where do we stand now?James "Jim" Grant is an American writer and publisher and the founder of Grant's Interest Rate Observer, a twice-monthly journal of the financial markets. He is the author , most recently, of The Forgotten Depression: 1921:...Read More
By Ira EpsteinGold and silver breakdown and neutralize bullish patterns they currently had.https://www.iraepstein.com/ Read More
Miners operating in the Democratic Republic of Congo submitted Thursday a new proposal for the government related to the recently passed new mining code, which substantially increases the cost of doing business in the central African nation.The likes of Glencore, Randgold, Zijin, China Molybdenum and Ivanhoe, among others, are suggesting a sliding scale of royalty rates for key commodities instead...Read More
As many of you know, I run a trading room with well over 3500 members, including over 450 money managers. I have seen the good, the bad, and the ugly as far as what traders and investors do through the years. And, no matter how much I warn about the pitfalls in the market, many chose to ignore me, and eventually learn on their own the hard way.To this end, this article is focused mostly upon t...Read More
By Avi GilburtAs many of you know, I run a trading room with well over 3500 members, including over 450 money managers. I have seen the good, the bad, and the ugly as far as what traders and investors do through the years. And, no matter how much I warn about the pitfalls in the market, many chose to ignore me, and eventually learn on their own the hard way.To this end, this article is focus...Read More
The oil names have struggled since hitting highs in JanuaryIt's been a rough three months for energy stocks, with the Energy Select Sector SPDR Fund (XLE) pacing for a first-quarter loss of more than 7%. This negative price action was in full view Wednesday, with several names in the sector finishing lower after the Energy Information Administration (EIA) reported a bigger-than-expected rise in c...Read More
Continue...David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and he is the author of The Great Deformation: The Corruption of Capitalism...Read More
Prices in India for local secondary steel billet have increased by about 100 rupees per tonne in the current week, with demand for both semi-finished and finished products remaining steady and the number of inquiries rising toward the weekend.On Thursday March 29, prices for Indian domestic secondary billet, mainly produced through the induction furnace route, were 32,700-32,900 rupees ($503-506)...Read More
By Susan TaylorTORONTO, March 29 (Reuters) - Goldcorp Incmade the first gold deposit on Tradewind Markets' new digitizedtrading platform, the companies said on Thursday, with 3,000ounces of bullion from its Red Lake mine complex in Ontario.As old-school gold trading increasingly moves into thedigital era, the deposit represents a "milestone" as the genesisblock, or first step in the bloc...Read More
South Africa's Gold Fields (JSE, NYSE: GFI) and Canada's Asanko Gold (TSX: AKG) are teaming up to develop one of Ghana's newest gold mine, the Asanko Gold Mine (AGM), is located in the country's Ashanti Region.As part of the deal, Gold Fields is acquiring a 50% stake in Asanko's local subsidiary, which gives it a 90% ownership in AGM, for a total of $203 million. The Vancouver-based firm is also g...Read More
Regular readers of Goldmoney's research will be aware that Goldmoney was among the first to alert western financial markets that China would introduce a new oil futures contract priced in yuan. Goldmoney's Head of Research, Alasdair Macleod, builds on his thoughts on the Oil-Yuan Futures and the implications for gold. Read the full Research piece here: https://www.goldmoney.com/research/go...Alasd...Read More
Remember LIBOR? The interest rate which soared during the global financial crisis? It's on the rise again, but almost no one is paying adequate attention to it. We are - and we will analyze for you what this means for the gold market. Hello LIBOR, My Old FriendSimon and Garfunkel sang about darkness, the old friend. We can refer these words to LIBOR which has come to talk with us again. I bet...Read More
The DJI and SPX are pacing for their first quarterly losses since 2015The Dow Jones Industrial Average (DJI) is flying high on the last trading day of the week, with the U.S. stock market closed tomorrow for Good Friday. At last check, the blue-chip index was up more than 275 points, thanks to a big bounce for Apple (AAPL). The rebound in tech stocks is helping lift the Nasdaq Composite (IXIC), to...Read More
(Kitco News) - Gold pricesare slightly higher in early U.S. trading Thursday, as the market has pausedfrom this week’s selling pressure. Gold and silver traders are still on thedefensive, as their chart postures have deteriorated a bit this week. April Comex gold futures were last up $1.30 an ounce at $1,325.50. May Comex silver was last up $0.002 at $16.255 an ounce.Worldstock markets were...Read More
Domestic prices for rebar in Poland have been stable this week in a slow market, sources told Metal Bulletin.Steel mills are expected to increase their offers in early April to reflect the rise in scrap costs in the middle of March. Price growth will also be supported by improved demand from the construction sector in April, according...Read More
Over 9 Metres of 43.6% Zinc at Mina Grande Sur(1)Over 7 Metres of 25.3% Zinc at Bongarita(1)Vancouver, British Columbia--(Newsfile Corp. - March 29, 2018) - Zinc One Resources Inc. (TSXV: Z) (OTC Pink: ZZZOF) (FSE: RH33) ("Zinc One" or the "Company") has received the first drill results from the previously announced drill program at its Bongar? Zinc Mine project located in north-central Peru. Th...Read More
"We're knocking the hell out of ISIS. We'll be coming out of Syria, like, very soon...Let the other people take care of it now."Continue...Read More