Chinese steel mills Lianxin Steel and Shandong Laigang Yongfeng have each ordered thermomechanical rebar rolling mills (TMbaR) with capacity for 1 million tonnes per year, equipment manufacturer SMS Group said on Friday July 13."The TMbaR mill for Shandong Laigang Yongfeng's Dezhou site [in Shandong province in eastern China] is part of a capacity conversion program using the electric arc furnace...Read More
Chest BumpsOne of the more extraordinary things that investors have seen in living memory is unfolding at this precise moment. This goes for business leaders, money managers, veteran Wall Streeters, value investors, 401(k) holders, momentum traders, FX guys, gold bugs, technical gurus, chartists, pork belly speculators, quants, astrologists, Larry Summers, put option sellers, dweebs and geeks, mi...Read More
Chinese long steelmaker Guangxi Guixin Iron & Steel is to start up a new, more environmentally friendly, electric-arc furnace (EAF) in mid-2019.It will have a tapping weight of 80 tonnes and will replace several smaller EAFs.Guangxi Guixin has a total long steel capacity of 8 million tpy, including 7 million tonnes of bar production and 1 million tpy of wire rod capacity.It runs three 1080 cubic m...Read More
CloseGain/LossOn WeekGold $1241.60-$5.50-1.08%Silver$15.80-$0.14-1.43%XAU80.43-0.84%-3.96%HUI173.52-0.74%-3.18%GDM612.68-0.68%-3.18%JSE Gold1030.27-25.72-4.84%USD94.72-0.06+0.76%Euro116.84+0.11-0.56%Yen89.01+0.12-1.70%Oil$71.01+$0.68-3.78%10-Year2.833%-0.016+0.32%Bond145.75+0.46875+0.06%Dow25019.41+0.38%+2.30%Nasdaq7825.98+0.03%+1.79%S&P2801.31+0.11%+1.50% The Metals: Gol...Read More
The United States has three requirements in returning to the Gold Standard. They will be extremely difficult to achieve. They each serve as essential requirements in a criterion. All three are urgently needed. The challenge is formidable for the nation to remain as a leading player in the global economy. The United States stands alone in volume of national debt. Many place the blame on the socia...Read More
Listen to the Podcast Audio: Click HereMike Gleason: It is my privilege now to welcome in Keith Weiner, CEO and Founder of Monetary Metals, and President of the Gold Standard Institute USA. Keith is a hard money advocate who has been an outspoken proponent for the gold standard and restoring sound money to our nation's monetary system. Keith has a PhD from the New Austrian School of Economics, a...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort214,310132,87670,367165,561265,955450,238469,198Change from Prior Reporting Period 3,82772010,702-7,356-1127,17311,310Traders17889955147272193 Small Speculators (C) GoldSeek.com LongShortOpen Interest 53,35534,395503,593 2,256-1,8819,429 non reportable positionsChange from the...Read More
By David Brady, CFAThe correlation between Gold and the USD/CNY exchange rate has become clear recently. I first cited the idea of Gold being pegged in yuan terms in February, based on the increasingly narrow range in the Gold/yuan (or "XAU/CNY") exchange rate. I emphasized this, given what it means for Gold in that USD/CNY becomes a primary driver of the price of Gold in dollars. Now it's mains...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Raw materialsTurkish steel producers resumed scrap bookings in the deep-sea markets for August deliveries, with prices falling through the week.UK ferrous scrap prices for deliveries in July have mostly gone up after a jump in prices to Europe's key export destination of Turkey in June, trade sources to...Read More
The gold miners' stocks have been drifting sideways to lower like usual in their summer doldrums. They are likely near their major seasonal lows ahead of a strong autumn rally, a great buying opportunity. Gold rebounding higher will be the primary driver fueling the gold-stock advance, dispelling today's bearish psychology. And strong Q2 production growth will likely play a sizable role in...Read More
China's growth over the past decade has been not just impressive, but historically unprecedented. No single country has ever added this many factories, roads, airports and entire new cities in so short at time. But the transformation has come at a cost, in the form of a debt bubble that's starting to look unstable. Beginning in 2015 non-performing loans and bond defaults both started trending up...Read More
Ahead of the Herd Newsletter - 2018 Issue Thirty Saturday July 7thAs a general rule, the most successful man in life is the man who has the best informationIn 2016 Steve Bannon, President Donald Trump's former chief strategist, declared that there was no doubt, in his mind, that the US would go to war with China in the South China Sea in the next five to 10 years. A US-Chinese military conf...Read More
*If the volume isn't working, click the volume icon located in the bottom right hand corner of the video playerHarry Dent is a Fortune 100 consultant, new venture investor, noted speaker, bestselling author, and the founder and senior editor at Dent Research, where he dedicates himself to identifying and studying demographic, technological, and geopolitical trends. He has a free daily newsletter a...Read More
There is no absurdity so palpable but that it may be firmly planted in the human head if you only begin to inculcate it before the age of five, by constantly repeating it with an air of great solemnity. Arthur SchopenhauerFinancial experts continue to state that the markets are going to crash, even though their record since this bull market started back in 2009 has been dismal to the say the lea...Read More
by John Stepek of Money WeekIf you hadn't realised by now, Donald Trump is seriousThe copper price is sliding.Chinese stocks are sliding.Oil tanked by 7% at one point yesterday.It does all rather suggest that maybe investors are really starting to worry about the burgeoning global trade war, and its impact on global growth.And they'd be right to.First things first. If you didn't realise it alrea...Read More
Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest independently owned securities firms. In 2001, Eric established Sprott Asset Management Inc. Over the years, Eric has personally been the recipient of numerous awards and honors, including one of Investor Dig...Read More
By late 2018, Michael believes we will see a watershed turn in the gold market."One of the ramifications that is almost assured to happen (as a result of the next global financial crisis), is that the faith in fiat currencies will be obliterated."This according to Michael is what will bring about heavy price inflation to come.Michael Pento is a specialist in Austrian economics and is the President...Read More
Prices for alloy steel scrap in the UK and Europe were stable this week amid heavily subdued trading and largely flat nickel prices, Metal Bulletin learnt on Friday July 13.Metal Bulletin's weekly price assessment for 18/8 stainless steel solids imported into mainland Europe was ?,?1,160-1,180 ($1,354-1,378) per tonne cif main European ports on July 13, unchanged week on week.In the UK, the domest...Read More
Pig iron buyers in the United States did not fulfill expectations and resume their booking activities this week, because bids and offers in the market diverged.Metal Bulletin's price assessment for US pig iron imports was unchanged at $410-415 per tonne cfr on Friday July 13 because no new bookings have been heard.Bids from buyers in the country came at $405 per tonne cfr, $5-10 per tonne...Read More