I'd like to address some aspects of the Greater Depression in this essay. I'm here to tell you that the inevitable became reality in 2008. We've had an interlude over the last few years Continue...Read More

The recent decline in European ferro-silicon spot prices, which had been weakening in line with demand due to a slump in steel production over the course of several weeks, has paused; but the stabilization might be brief due to the approaching seasonal slowdown in July and August and an increase in lower-priced export offers into the EU.Thus, the bias in the market on prices is pointing down for t...Read More

The dramatic consequences of the Covid-19-related lockdowns across Europe, and the corresponding shutdowns of industrial activities, have resulted in an enormous disruption to the supply chains across all sectors of the steel industry.While the largest of these sectors, the construction industry, has by no means escaped the effects of the pandemic, sources believed that it could see a return of de...Read More

Liberty Steel Group UK, part of the GFG Alliance, hopes to double production at its Rotherham site to more than 1 million tonnes per year after altering its product mix to produce rebar while reducing its carbon emissions, the company said on Monday June 22.It has upgraded its Thrybergh Bar Mill in Rotherdam to produce rebar from September onward. This follows a series of successful trials of its...Read More

In recent issues of Seasonal Insights, my colleague TeaMuratovic and I shared our analysis of global stock markets with you. Today I want to put a popular precious metal under the magnifying glassfor you: silver.Silver, often referred to as the "little brother" of gold,has a particularly interesting seasonal pattern I would like to show to you. Silver's seasonality under the magnifying g...Read More

Although the rally on Wall Street flouts common sense and arguably even sanity, born-again bulls continue to rampage. What will put an end to their foolishness? Surely not more grim economic data, nor an increase in what is already the highest unemployment rate since the Great Depression, nor a wave of business failures that could eventually asphyxiate the consumer economy. None of these problem...Read More

By: Ira EpsteinGold weekly chart shows support at 18-DMA just below $1,700. The market is at an upside bias, right below record highs:Read More

Here are five Fastmarkets stories you might have missed on Friday June 19 that are worth another look.Pig iron production at Tata Steel IJmuiden in the Netherlands was stopped on June 19, while the plant's workers went on a 24-hour strike, sources told Fastmarkets.The London Metal Exchange has fined warehouse operator Istim ?30,000 ($37,120) for breaching clauses of its warehouse agreement, the e...Read More

Here are five Fastmarkets stories you might have missed on Monday June 22 that are worth another look.The dramatic consequences of the Covid-19-related lockdowns across Europe, and the corresponding shutdowns of industrial activities, have resulted in an enormous disruption to the supply chains across all sectors of the steel industry.Chilean state-run copper producer Codelco has decided to halt a...Read More

The recent decline in European ferro-silicon spot prices, which had been weakening in line with demand due to a slump in steel production over the course of several weeks, has paused; but the stabilization might be brief due to the approaching seasonal slowdown in July and August and an increase in lower-priced export offers into the EU.Thus, the bias in the market on prices is pointing down for t...Read More

Domestic prices for hot-rolled coil fell further in Northern Europe in the week to Friday June 19 due to low market demand.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?390.00 ($435.86) per tonne on Friday, down by ?,?6.25 per tonne week on week and down by ?,?19.84 per tonne month on month.The region's integrated mills have been offering HRC at ?,?400-410 p...Read More

The three-month price of copper on the London Metal Exchange was higher at the close of trading on Monday June 22, topping the complex with a 1.8% uptick despite thin trading volumes, while zinc's forward curve loosened over the afternoon.Copper's outright price on the LME closed at $5,880.50 per tonne on Monday afternoon, climbing from an intraday low of $5,807 per tonne, but failed to breach nea...Read More

Strengths? The best performing precious metal for the week was silver, up 0.83 percent as hedge funds boost their net long position to a 14-week high. Swiss exports of gold to the U.S. hit another high in May to 126.6 tons. ETFs added 27,739 troy ounces of gold to their holdings on Thursday, marking the sixth straight day of inflows. Bloomberg notes that total gold held by ETFs r...Read More

Although the rally on Wall Street flouts common sense and arguably even sanity, born-again bulls continue to rampage. What will put an end to their foolishness? Surely not more grim economic data, nor an increase in what is already the highest unemployment rate since the Great Depression, nor a wave of business failures that could eventually asphyxiate the consumer economy. None of these problem...Read More

By: Ira EpsteinGold weekly chart shows support at 18-DMA just below $1,700. The market is at an upside bias, right below record highs:Read More

Highly UncertainReallocation ShockDemand ShockA Most Troubling DilemmaHow You Can HelpPuerto Rico and Final ThoughtsPredictions are difficult, especially those about the future. That old proverb (often attributed to Yogi Berra) is right but you can't live without making certain presumptions. You presume your car will start, your refrigerator will stay cold, the lights will turn on when you flip...Read More

Here are five Fastmarkets stories you might have missed on Monday June 22 that are worth another look.The dramatic consequences of the Covid-19-related lockdowns across Europe, and the corresponding shutdowns of industrial activities, have resulted in an enormous disruption to the supply chains across all sectors of the steel industry.Chilean state-run copper producer Codelco has decided to halt a...Read More

The recent decline in European ferro-silicon spot prices, which had been weakening in line with demand due to a slump in steel production over the course of several weeks, has paused; but the stabilization might be brief due to the approaching seasonal slowdown in July and August and an increase in lower-priced export offers into the EU.Thus, the bias in the market on prices is pointing down for t...Read More

The three-month price of copper on the London Metal Exchange was higher at the close of trading on Monday June 22, topping the complex with a 1.8% uptick despite thin trading volumes, while zinc's forward curve loosened over the afternoon.Copper's outright price on the LME closed at $5,880.50 per tonne on Monday afternoon, climbing from an intraday low of $5,807 per tonne, but failed to breach nea...Read More

Seaborne iron ore prices fell on Monday June 22 after an increase in cargo arrivals at Chinese ports last week, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $101.75 per tonne, down $0.67 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $104.19 per tonne, down $1.20 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $90.77 per tonne, down $...Read More