Dutch wire products supplier Van Merksteijn is to build a mesh-quality wire rod mill with capacity for 800,000 tonnes per year at the seaport of Eemshaven in the north of the Netherlands, the company confirmed to Metal Bulletin on Tuesday January 9.The company hopes to start production at the mill in 2020, and is expected to use scrap-based electric-arc furnace (EAF) technology."The capacity we're...Read More
Gold and silver will see a sell off if they fail to break key resistances of $1327 and $1740. Copper needs to trade over $318.40 for the rest of the week to prevent a sell off. Crude oil looks headed for $65.00. Crypto currency volatility (I will not call it a sell off) should be positive for bullion. Chinese demand will zoom in bullion before their New Year next month. Chinese buyers will be us...Read More
Turkish steel mills continued their February bookings of scrap imports from the Baltic Sea region on Tuesday January 9, with the United States market still quiet because of the heavy winter conditions.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 24,000 tonnes of HMS 1&2 (80:20) at $374 per tonne, 5,000 tonnes of bonus at $384 per tonne and 1,000 tonnes of...Read More
Metal Bulletin has today discontinued its index for CFR China 60% Fe Iranian Iron Ore Fines.After a consultation period, Metal Bulletin has suspended its weekly Iranian Iron Ore Fines Index, which was published every Wednesday.The MBIOI-IR Index was launched in October 2015 after a period...Read More
Maybe.Since central banks began their B.S. back in 2001, when the Bank of Japan first began Quantitative Easing efforts, I've warned that it wouldn't be enough... that none of Continue...Read More
Gross: Bond bear market confirmed today. 25 year long-term trendlines broken in 5yr and 10yr maturity Treasuries.Continue...Read More
Iron ore exports from Western Australia's Port of Port Hedland rose 5% on the year to the highest ever in December, according to data released by the Pilbara Ports Authority on Tuesday January 9.The port shipped 46.19 million tonnes of the steelmaking raw material last month, compared with 43.94 million tonnes in December 2016. The volume is also 11.7% higher than November exports of 41.35 million...Read More
I'm calling 2018 "The Year of Living Dangerously." That description might seem odd to lot of observers. Major U.S. stock indexes keep hitting new all-time highs.Continue...Read More
Stephen K. Bannon has stepped down from Breitbart News Network, following a very public feud with President Trump Continue...Read More
Brazilian exports of carbon steel slab and billet increased in 2017, according to the country's foreign trade ministry, MDIC.Exports of carbon steel slab reached 7.3 million tonnes in 2017, up 23.49% from the 5.91 million tonnes exported in 2016, according to the figures released late last week.The US was the largest...Read More
China's central bank has altered the strategy used to manage the yuan, effectively removing a component used by banks to calculate their Continue...Read More
The U.S. economy added only 148,000 jobs in December.Gold prices reacted in a choppy way, confusing some analysts. Why?December Payrolls DisappointTotal nonfarmpayroll employment increased only 148,000 in December, the slowest pace in threemonths. The employment gains were generally widespread, but the biggestemployers were construction (+30,000), leisure and hospitality (+29,000),education a...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBillet Iran, export, billet, traded at $518 per tonne cfr,...Read More
Timeis more important than price. That’s what we – investors – are often made tobelieve regarding the future price movement. And rightfully so. The price couldreach a bottom several dollars ahead of the predicted price target or it couldbreak through it, leaving investors wondering, if there was a breakdown andthus they should expect to see another big downswing shortly. With tim...Read More
Prices for imported steel billet in the UAE have increased this week while rebar prices in that country and in Saudi Arabia have remained stable, sources have told Metal Bulletin.Demand for imported rebar, meanwhile, was very weak in both countries because local prices were more competitive.BilletIranian mills were offering billet at $520-525 per tonne cfr to the UAE for late-March delivery, while...Read More
Since the late '90s, the US has increasingly financed its "growth" with debt.As a result, the amount of debt in the system, relative to GDP, has skyrocketed.The notion that we can "grow our way" out of this is ridiculous. The US Government has brought in RECORD amount of taxes since 2014... and the Government has STILL runs $400+ Billion deficits Every. Single. Year.Put another way, the US Governm...Read More
Rudi Fronk and Jim Anthony, cofounders of Seabridge Gold, discuss gold's recent moves and potential signs of a bull market.Gold is up nine of the last 12 Januaries with an average gain of over 4%, and the trend has continued in 2018 with gold reaching an intraday high of $1,327 so far this year. From December 19 of last year, gold rose 10 trading days in a row. Is this another rally destined to di...Read More
Since the late '90s, the US has increasingly financed its "growth" with debt.As a result, the amount of debt in the system, relative to GDP, has skyrocketed.The notion that we can "grow our way" out of this is ridiculous. The US Government has brought in RECORD amount of taxes since 2014... and the Government has STILL runs $400+ Billion deficits Every. Single. Year.Put another way, the US Governm...Read More
Chinese ferro-silicon prices continued to soften over the past week amid operational restarts in the country's Ningxia province, while the European market reached new highs on tightened supply. Chinese domestic prices edge lower amid production restarts Chinese exporters drop offers amid lack of buying interest European market realizes new highs on thin supplyUS spot market falls dormant, prices o...Read More
I told subscribers to expect $1320 to function as a headwind for gold on this rally, and that's happening right on schedule. This is the important weekly gold chart.Note that the two biggest volume bars both occurred as key events in India occurred. It could be said that when America catches a general stock market cold, world markets get the flu.Horrifically, when India catches the gold demand sni...Read More