SHANGHAI, Mar 26 (SMM) – Demand would be the key thing to watch for silicon prices in the short term as prices have been dropping even before the dry season ends.Aluminium alloy plants, buyer of metallurgical-grade silicon, were operating at a low rate in a bid to destock as few new sales orders were received post-Chinese New Year when previous orders were also delayed.Even though some...Read More
The biggest steel producer in the United Arab Emirates, Emirates Steel, increased its rebar price to 2,412 dirhams ($657) per tonne ex-works for April production on Monday March 26.This is up from the previous 2,340 dirhams per tonne ex-works, a price that had been unchanged since January 16.Compatriot producer Conares Steel is now offering rebar...Read More
Gold update: While I don't care much for Cycle anomalies (i.e. short of long cycle), I am not going to fight them. Therefore, I am very bullish on Gold given the short ICL that has been left behind but the yellow metal has disappointed before so we still need to be cautious until the next resistance between 1360-1377 is taken out. The next week or 2 are critical, IMO and Gold needs to show some b...Read More
Gregory Mannarino started his financial career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. He is an active trader of the capital markets and has published several books pertaining to finance, global economics, and equity trading; His most recent book is titled Ultimate Guide To Money and The Markets (free ebook). Gregory currently hosts a b...Read More
SHANGHAI, Mar 26 (SMM) – After it was forecast that Tangshan's air pollution is likely to reach the orange level, the city activated its emergency level ?...? response to heavy air pollution at 20:00 on March 25 until further notice, SMM learned.An orange-level alert is the second-highest in China’s four-level air pollution warning system. An orange-level alert indicates that...Read More
By Market AnthropologyI could probably count on one hand the number of songs - that for whatever reason, I might stomach on repeat indefinitely. For What It's Worth - by Buffalo Springfield, is one of them. I say this, because the opening refrain from the more than 50-year young classic, "There's something happening here/ What it is ain't exactly clear," has been rattling behind my thoughts o...Read More
By Daniel R. Amerman, CFAMovies can have quite predictable plot lines that we know in advance - but we love them anyway. It could be a romance, where the girl is going to end up with the right guy through a series of improbable events, even though that looks impossible to begin with. It could be an action movie, where our tough and underestimated hero overcomes seemingly impossible odds to just...Read More
For those that follow me regularly, you will know that I have been tracking a set up for the GLD as a proxy for gold. I believe that the GLD can outperform the general equity market once we confirm a long term break out has begun, and I still think we can see it in occur in 2018. This week, I will provide an update to the GLD. While I have gone on record as to why I do not think the GLD is a wis...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebarUAE, domestic (Emirates Steel), rebar, offered at 2,412 dirhams ($657) per...Read More
SRSrocco says "we are going to experience one hell of a disconnect between the stock and real estate markets and precious metals". Here's why...by Steve St Angelo of SRSrocco ReportThis update is by far one of the most important as the silver price setup is the best I have seen in years. According to the data, the silver price is by far in much better position to outperform gold when the precio...Read More
By Keith WeinerPicture, if you will, a group of slaves owned by a cruel man. Most of them are content, but one says to the others, "I will defy the Master." While his statement would superficially appear to yearn towards freedom, it does not. It betrays that this slave, just like the others, thinks of the man who beats them as their "Master" (note the capital M). This slave does not seek freedom...Read More
By Frank HolmesStrengths? The best performing metal this week was gold, up 2.50 percent. Gold traders are the most bullish they've been since January 26, according to Bloomberg's weekly survey. Gold is headed for its largest gain in five weeks after the Fed projected three interest rate hikes in 2018, easing concern that they would be more aggressive with four rate hikes for the...Read More
Current Position of the MarketSPX: Long-term trend - The bull market is continuing with a top expected in the low 3000s.Intermediate trend - The intermediate correction from 2872 should now continue until May.Analysis of the short-term trend is done on a daily basis with the help of hourly charts. It is an important adjunct to the analysis of daily and weekly charts which discusses the course of l...Read More
Turkish steel producers have entered a third week with no deep-sea trading, while offers and bids in the market kept the daily scrap indices largely flat, sources said on Monday March 26.Metal Bulletin's daily index for Northern European HMS 1&2 (80:20) closed the day at $368.10 per tonne cfr, up by only $0.41 per tonne day-on-day.The daily index for similar US-origin scrap closed at $378.08 per t...Read More
By Avi Gilburt For those that follow me regularly, you will know that I have been tracking a set up for the GLD as a proxy for gold. I believe that the GLD can outperform the general equity market once we confirm a long term break out has begun, and I still think we can see it in occur in 2018. This week, I will provide an update to the GLD. While I have gone on record as to why I do not think t...Read More
The average bonus earned by Wall Street financial workers in 2017 soared to $184,220, reaching heights unseen since the immediate buildupContinue...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comTwitter: @Davcha12March 26, 2018 "Facebook gives people an illusory sense of being LIKED." Mokokoma Mokhonoana "We have a responsibility to protect your data" Mark Zuckerberg Maybe it is slightly creepy that an ad for a product you visited keeps popping up on websites you visit. But then d...Read More
Turkish domestic auto bundle scrap prices remained largely steady over the past week, with most steel mills in the country keeping their buying prices unchanged, while ship scrap prices dipped slightly, sources said on Monday March 26.Metal Bulletin's weekly price assessment for domestic auto bundle (DKP grade) scrap in Turkey was unchanged at TRY1,300-1,520 ($327-382) per tonne delivered on...Read More