Recently, we saw the dollar index (the DXY), which measures the USD against a basket of the world's major currencies, break below its support of 91 for the first time since January of 2015 (Figure 1). This event may signal the most important trend of 2018: the breakdown of the dollar.Figure 1: Daily Dollar Index (DXY) Source: Thomson Reuters EikonThe recent drop of .96 percent was the second lar...Read More
"Every two weeks from February to November Americans will be reminded that one party cut their taxes and raised their pay. And the other tried to stop it."Continue...Read More
By Jared DillianNow would be a good time to follow me on Twitter if you haven't already, because stuff is about to get real.I was finger-scrolling through The Daily Shot the other day (a daily chart package mailed out by The Wall Street Journal it's a must-read for everyone in the business), and I came across this:Source: The Daily ShotPeople are getting bulled up on the idea that the Fed might...Read More
Turkish billet prices have fallen over the past week because of the poor demand in the domestic and export markets and the lower costs for imported scrap, while demand for imported billet has recovered slightly, sources said on Thursday February 1.Metal Bulletin's weekly price assessment for billet imports into Turkey was $505-520 per tonne cfr on the day, down from the $515-525 per tonne of last...Read More
By Ronan Manlyhttps://www.bullionstar.com/This article is in 3 parts and covers a) upcoming trade reporting in the London gold market which is being led by the London Bullion Market Association (LBMA), b) the recent publication by the LBMA of a Guide to the London OTC precious metals markets, and c) an update on monthly vault reporting which the LBMA and the Bank of England launched in 2017.LBMA...Read More
Marin KatusaMarin Katusa started off the 2018 Vancouver Resource Investment conference off in a battle with Rick Rule and Frank Holmes discussing top picks.Marin's picks were no surprise to the audience as they are the same companies (dogs) he has been promoting for the past several years.In case you are wondering about some of Marin's track record this link is a good place to do some due dilig...Read More
By Rory HallCryptocurrencies are not anonymous and they are not decentralized, period. This is to say nothing of the dangers they pose as being "pirate money" that can create real world problems for a persons life. If you don't believe me simply ask Randall Lord, Ross Ulbricht or anyone that has had their "wallet" hacked or stolen on any number of exchanges where cryptocurrencies are bought and...Read More
Steel billet import prices in Egypt fell slightly but domestic rebar prices remained unchanged in the week ended Thursday February 1.Billet import prices fell amid lower offer prices and news of a deal being agreed for material from Iran."Demand is not very strong and prices are going down," a trader told Metal Bulletin on Thursday."People will wait...Read More
Gold consumption in China grew 9.41% in 2017, according to information Continue...Read More
China's domestic rebar prices picked up some upward momentum on Thursday February 1 amid gains in the billet and futures markets. Domestic Eastern China (Shanghai): 3,830-3,890 yuan ($608-618) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,900-3,950 yuan per tonne, widened upward by 10 yuan per tonneGains in the futures market in the first couple of hours of trading and an increase in...Read More
Ferro-alloys producer Ferroglobe has successfully completed the acquisition of a 100% interest in Glencore's manganese alloys plants in Mo i Rana (Norway) and Dunkirk (France) from a wholly-owned subsidiary of Glencore International, it said on Thursday February 1. Ferroglobe has received the necessary regulatory approvals in France, Germany and Poland for the purchases, the company added. The new...Read More
Slowing spot demand caught up with the molybdic oxide and ferro-molybdenum markets this week, with prices dropping after suppliers cut their offer prices to book profits following a strong rally in recent weeks, sources told Metal Bulletin. Metal Bulletin assessed molybdic oxide prices at $11.80-12.00 per lb in-warehouse Rotterdam on Wednesday January 31, down 20 cents from Friday. The market...Read More
As competition in the global steel markets remains fierce, Metal Bulletin provides an update on the new, progressing and closed trade cases from around the world in January 2018.The case list below includes only updates.(1) BRAZIL HRC(2)...Read More
Demand and prices for Indian finished steel products are likely to be boosted over the coming year after the country's government announced stronger spending on infrastructure in its new budget, Metal Bulletin heard on Thursday February 1.India's budget allocation for infrastructure spending in its 2018-19 financial year, which begins in April, will rise to 5.97 trillion rupees ($93.65 billion), c...Read More
Swedish steel trading company BE Group forecast solid demand and largely stable steel prices in the first quarter of 2018 following its good performance in October-December 2017, in a report published on Thursday February 1."Demand during the upcoming quarter is expected to remain strong in the company's main markets. At the same time, steel prices are expected to remain at the same level as in th...Read More
The Brazilian long steel market was largely stable in January, but prices are now expected rise and a government decision on whether to allow ArcelorMittal Brasil to take control of Votorantim Siderurgia's long steel assets is imminent.That transaction is currently under review by the tribunal of Brazil's competition regulator, Cade, which is composed of six commissioners and a chairman, ArcelorMi...Read More
As competition in the global steel markets remains fierce, Metal Bulletin provides an update on the new, progressing and closed trade cases from around the world in January 2018.The case list below includes only updates.(1) BRAZIL HRC(2)...Read More
Summary of Glencore's production results for the fourth quarter and full year 2017.(Own-sourced output volume, year-on-year % change) Copper Q4: 363,200 tonnes, 0% 2017: 1,309,700 tonnes, -8% Zinc Q4: 262,800 tonnes, -14% 2017: 1,090,200 tonnes, 0% Lead...Read More
Treatment and refining charges (TC/RCs) for spot market copper concentrates dropped significantly during the second half of January, with smelters coming to the market for tonnages below benchmark rates and mine sales going at aggressive numbers.Metal Bulletin's copper concentrate TC/RC index dropped by $9.4 per tonne/0.94 cents per lb. Of that drop, $3.2/0.32 cents was due to the addition of a co...Read More
The falling scrap market pushed prices for CIS-origin pig iron down during the week ended Thursday February 1, Metal Bulletin has heard."The market has weakened, and producers can no longer keep pig iron prices high while the scrap market is crashing," a trader told Metal Bulletin.Metal Bulletin's export price assessment for high-manganese pig iron from the CIS region fell to $350-375 per tonne fo...Read More