Mexico faces a hurdle that's bigger than any wall Donald Trump could ever build...Our southern neighbors have a gas problem - a natural gas problem, to be exact.It's pretty simple: Mexico already consumes much more natural gas than the country can possibly produce. And it's gonna need much more of the fossil fuel over the next several decades.Anyone can see the dilemma. But while Mexico has the pr...Read More

Some steel coil prices in Turkey decreased in the week ended Friday March 1, with buying activity remaining subdued.The market was unlikely to improve in March because of the uncertainty before mayoral elections to be held in the country on the last day of the month, sources told Fastmarkets. Market participants wanted to see if end-user demand would improve after the elections were complete.Buyer...Read More

Starting in the second segment of his latest interview with Jim Goddard, INK CEO Ted Dixon gives an overview of the outlook for Canadian stocks drawing on the most recent Insights weekly newsletter. Broadly speaking, insiders remain upbeat about their prospects going forward, particularly in the oil patch where stocks have undergone a correction to reflect commodity pricing troubles.He does, howe...Read More

In my latest Howe Street interview with Jim Goddard, I make the case Justin Trudeau and his cabinet can no longer effectively govern. The obstacles facing the Trudeau regime go beyond the question of whether a law may have been broken by him or his government in trying to get the Attorney General of Canada at the time, Jody Wilson-Raybould, to change her mind on prosecuting SNC-Lavalin (SNC). Lea...Read More

China's hot-rolled coil exporters continued to aim for higher prices on Friday March 1 following futures-led gains in the domestic market.DomesticEastern China (Shanghai): 3,840-3,860 yuan ($574-577) per tonne, up 20-30 yuan per tonneNorthern China (Tianjin): 3,760-3,820 yuan per tonne, up 20-60 yuan per tonneFurther gains in the future market gave spot prices more upward momentum during the day.T...Read More

Brazilian domestic flat-rolled steel and reinforcing bar prices fell during the week ended Friday March 1, with discounts from past months consolidating in the market due to low demand.Fastmarkets' monthly price assessment for Brazilian domestic hot-rolled coil was 2,425-2,470 Reais ($649-661) per tonne ex-works on March 1, down from 2,470-2,650 Reais per tonne ex-works a month earlier.The as...Read More

Prices for domestic beams in the United States have risen after recent mill hikes were passed through to the marketplace, while import beam prices dipped on confirmed lower-priced purchases from Luxembourg, Spain and the United Arab Emirates.Fastmarkets AMM assessed the price for domestic W8x8-in beams at $43.25 per hundredweight ($865 per short ton) fob mill on Thursday February 28, up 3.6%...Read More

Domestic prices for rebar in Poland have been supported by strong demand this week, sources told Fastmarkets on Friday March 1.Fastmarkets' price assessment for domestic 12mm B500B-grade rebar in Poland was 2,200-2,320 zloty ($581-613) per tonne ex-works on March 1, compared with 2,220-2,320 zloty per tonne ex-works a week earlier.The assessment reflected deals and offers heard in the market. Alth...Read More

Global steel scrap prices began to edge up in Turkey this week while other key markets continued to lose ground, Fastmarkets heard during the week ended Friday March 1.Turkey succeeded in recovering some of its recent losses in new bookings, but these remained sparse and mills were still reluctant to enter the market. The US market continued to stagnate while prices in Asia edged down further due...Read More

The price of shredded ferrous scrap imported into India fell by $11 per tonne this week following deals done at lower prices, sources told Fastmarkets on Friday March 1.Fastmarkets' weekly index for containerized imports of shredded scrap into India was $328.33 per tonne cfr on March 1, down $11.11 per tonne from $339.44 per tonne cfr on February 22.Deals were heard for shredded material into...Read More

Turkish scrap import prices recovered at the end of the week on Friday March 1 with news of a fresh deep-sea cargo, sources told Fastmarkets.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $310.50 per tonne and 5,000 tonnes of bonus at $320.50...Read More

Steel slab export prices from Brazil inched up in the week ended Friday March 1 because of lower volumes available and an uptrend in steel prices in the United States.Fastmarkets' weekly assessment of Brazilian slab export prices reached $500-540 per tonne fob on March 1, up from $490-530 per tonne fob a week earlier.The assessment was at its highest level since September 7, 2018, when prices were...Read More

Import prices for steel billet in Southeast Asia were stable on Friday March 1 amid thin buying interest and the resulting lack of transactions.Fastmarkets' daily import price assessment for billet in Southeast Asia was $480-485 per tonne cfr Manila on Friday March 1, the same as the previous day. Southeast Asia's import prices have been largely steady since February 14 and last week rem...Read More

Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 254,086108,43953,521146,161312,638453,768474,598 Change from Prior Reporting Period 39,916-857133-13,51526,85126,53426,127 Traders 21872684755291173 Small Speculators LongShortOpen Interest 50,87130,041504,639 2,0222,42928,556 non reportable positionsChan...Read More

The gold miners' stocks have been climbing higher on balance, enjoying a solid upleg that is gathering steam. That's fueling improving sentiment, driving more interest in this small contrarian sector. This gold-stock upleg is likely to grow in coming months, partially because of very-favorable spring seasonals. The gold stocks' second-strongest seasonal rally of the year typically unfolds...Read More

It's hard to believe, but the year 2019 is already about 15% in the books. So, with two months behind us, perhaps it's a good time to check in, assess what we've accomplished thus far in COMEX gold and silver, and then look ahead to what's coming as the year progresses.The focus of this post is to update our primary forecasts from December and January. These were each posted at Sprott Money an...Read More

(I wrote here earlier that a public-pension bust is coming that will usher in the Second Great Depression. Could California, Illinois, Connecticut, New Jersey et al. avoid disaster by raising taxes? That's what John Jay, a regular contributor to the Rick's Picks forum, thinks they will do. I strongly doubt it, however, since there is no way the revenuers will be able to squeeze blood from a s...Read More

By: IRA EPSTEINBig volatility can create no volatility for a while, everyone worn out. Gold in a correction phase, nothing bearish looking on the weekly chart.Read More

China's domestic rebar prices rebounded for a second time this week on Friday March 1 on gains in the futures market, while the export segment also received a small boost.Domestic Eastern China (Shanghai): 3,780-3,830 yuan ($565-572) per tonne, up 40 yuan per tonneNorthern China (Beijing): 3,780-3,830 yuan per tonne, up 50 yuan per tonneRebar futures posted gains for two consecutive days, which re...Read More

COT SPECIAL PUBLICATION SCHEDULE Reminder -- Due to the U.S. Government Shutdown (February 1 Announcement) The last COT report was published on December 21, 2018. Reports going forward from that date will be published in chronological order beginning with the report previously scheduled for release on Friday, December 28, 2018 (based on data from Monday, December 24, 2018). The CFTC publ...Read More