CIS export prices for steel slab soared in the first half of February, supported by a reduced allocation of the material in the region as well as rising prices for finished flat steel products.The lower availability of slabs was a result of maintenance work undertaken by Metinvest in Ukraine, and by a reduced allocation of slabs to third parties as a consequence.Meanwhile, given the positive marke...Read More
This company's multiphase drill program continues to meet objectives. Avrupa Minerals Ltd. (AVU:TSX.V; AVPMF:OTC: 8AM:FSE) announced in a news release it has finished drilling the seventh phase, or six holes totaling 2,498 meters, at Sesmarias, on the Alvalade license, in Portugal. According to the company, "the program continues to be highly successful, accomplishing goals of better technical u...Read More
Precious metals expert Michael Ballanger discusses COT reports, the Fed, the dollar and gold.Over the years, you have all read my rants and ravings (as well as those of many other learned scribes) on the issue of government-sponsored and regulatory-sanctioned bullion bank interference in the gold and silver markets. What back in the 1970s was deemed "rank speculation" and "conspiracy theory nonsen...Read More
The prices for steel billet and rebar in the United Arab Emirates increased this week on higher offers from producers, but demand was only moderate, sources told Fastmarkets on Tuesday February 12.Domestic rebarLocal rebar producers in the UAE increased their offer prices.The country's largest producer, Emirates Steel, was offering rebar to be shipped in February at 2,007 dirhams ($546) per tonne...Read More
Export billet prices from the CIS region continued to climb early this week due to the reduced availability of material amid massive sales in the previous week as well as due to higher raw materials prices in the global market.Fastmarkets' daily index for the CIS export billet price was $454 per tonne fob Black Sea on Monday February 11, up from $450 per tonne fob on February 8.A large cargo of Ru...Read More
High-carbon and low-carbon ferro-chrome prices into Europe and the United States edged up over the past week, while Lunar New Year holidays across Asia kept markets in the region quiet. Charge chrome and ore prices into China stable Chinese domestic ferro-chrome price assessment rolled over Japanese and South Korean ferro-chrome prices unchangedAlloy prices into US and Europe tick up Prices for c...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
By: Ira EpsteinGold down into important support zone -- Hope for the gold bears ..."April Gold Chart, lower highs and lower lows, down towards the support: $1306.50 area"Read More
Gold stocks have to do more to confirm they are in a new bull market.Sure, they’ve surged above key moving average resistance and breadth has improved. However, the gold stocks have not yet broken the pattern of lower highs and breadth, while improved, is not at bull market levels yet. Let’s review where things currently stand. In recent weeks GDX and GDXJ surged above the critical 400...Read More
USA is coercing every nation not to use Huawei5G or any of Huawei telecom gear. USA is now using the threat of trade sanctions on nations using or intend to use Huawei telecom gear. This will be short term bullish for US dollar but in the long term it will sink the US dollar. I will prefer to accumulate more and more physical gold on dips. Better to increase portfolio allocation to hard assets n...Read More
Both the WGC and LBMA published outlooks for the global economy and gold market in 2019. Who is right? WGC’s Outlook for Gold in 2019Let’s start from the World Gold Council (WGC) which published its 2019 outlook on January 10th. As befits the organization representing industry’s interests, the WGC is bullish on gold prices. No surprises here. According to the institution, the fol...Read More
CMG hit a fresh high earlier today before pulling backChipotle Mexican Grill, Inc. (NYSE:CMG) has started the new year off scorching hot, adding nearly 40% already in 2019. Today, CMG snagged a new three-year high of $612.60 out of the gate, although it was last seen down 1.2% to trade at $596.37. If history is any guide, Chipotle options traders may want to set their sights on more record highs...Read More
On January 28, 2019, our research team issued a research post indicating we believed that Precious Metals would rotate lower over the next 45+ days in preparation for a momentum base/breakout that would initiate sometime near the end of April or early May. Recent price weakness in Gold has begun to confirm our analysis and we believe this price weakness will continue for the next 2~4 weeks while t...Read More
* Emerging markets tops crowded trade list * "Long USD" is second, "Long FAANG & BAT" third * Global equity allocations fall to lowest since 2016 * Cash overweight hits highest since 2009 * Allocations to European equities rise slightly (Writes through, adds details, quotes)By Helen Reid and Karin StroheckerLONDON, Feb 12 (Reuters) - Investors made a U-turn onemerging marke...Read More
* Plus500 sinks after profit warning * Michelin shares register best day in nearly a decade* Gucci owner Kering falls * Credit Suisse takes profits on global equities (Adds closing prices)By Josephine MasonLONDON, Feb 12 (Reuters) - European shares closed higher onTuesday as investors cheered positivity around U.S.-China tradetalks and signs of a compromise to avoid another U.S. governmentshutdown...Read More
A few simple tools can help anyone make smarter trades.It used to take years of practice and hours of research to consistently make winning trades in the stock market, but nowadaysfinding profitable trades shouldn't have to be a full-time job. In fact, trading like a pro can really be as easy as 1-2-3, with the right tools and technology!According to one company, there's a simple recipe that can...Read More
A surprising OPEC update also boosted oil pricesOngoing budget negotiations in the U.S. and global trade talks were again the focus on Wall Street today. However, the Dow, S&P 500, and Nasdaq all rallied this time around on a much more upbeat news cycle, with President Donald Trump indicating another government shutdown will likely be avoided, though he said he's "not happy" about the proposed spe...Read More
Speculators are targeting more short-term upside for PYX stockOptions volume is running hot on Pyxus International Inc (NYSE:PYX) this afternoon, as the stock heads toward its best day since Oct. 8. At last check, around 18,000 options have been exchanged -- five times the average daily volume -- with PYX shares trading up 28.1% at $21.58. Today's upside comes in reaction to the leaf tobacco manuf...Read More
Philip Morris stock just set off a historically bearish signal on its latest reboundThe shares of Philip Morris International Inc. (NYSE:PM) had set a series of lower highs following a late-April bear gap, and bottomed out at an eight-year intraday low of $64.67 on Dec. 27. The stock has since rallied over 23% and is now revisiting the $80 level -- a region of support for PM prior to its mid-Decem...Read More
Molson Coors, meanwhile, is slumping toward its worst day in monthsPositive headlines out of D.C. are driving stocks higher today. Among individual names making notable moves are insurance issue Brighthouse Financial Inc (NASDAQ:BHF), beer giant Molson Coors Brewing Co (NYSE:TAP), and mortgage application software specialist Ellie Mae Inc (NYSE:ELLI). Here's a quick roundup of what's moving the sh...Read More