[Editor’s note: This story was originally published in August 2018. It has since been updated and republished.]The stock market’s volatility in recent months has not made me less bullish on the five cheap stocks profiled in this article. Among these stocks, market movements can cause some noise. But the investment thesis on cheap stocks is predicated on huge moves higher in the long-te...Read More
Suppliers of hot-rolled (HR) and cold-rolled (CR) steel sheet to Russia's Central federal district around Moscow have increased their offer prices on seasonally improved demand and a burgeoning export market, sources told Fastmarkets on Monday February 18.Fastmarkets' weekly price assessment for Russia-origin 4mm HR sheet was 42,000-43,000 roubles ($634-649) per tonne cpt Moscow on Monday, includi...Read More
The Tuesday Market Minute Global stocks mixed as investors eye this week's round of U.S. China trade talks as the March 2 deadline looms.President Donald Trump says talks have made "a lot of progress", but analysts note key issues such as intellectual property protection and forced technology transfers remain sticking points.European stocks drift lower amid a modestly stronger euro and concerns...Read More
ArcelorMittal has added a further ?,?30 ($34) per tonne to its European coil steel prices, the world's largest steelmaker told Fastmarkets on Tuesday February 19.The second increase in offer prices in less than a month follows the company's announcement that it would be adding ?,?30 per tonne to the price of European coil products on January 31.The latest price increase will be...Read More
Export prices for Chinese cold-rolled coil (CRC) and hot-dipped galvanized coil (HDG) increased further over the past week, amid an uptick in spot trading and higher offers from mills, although the price uptrend appears to be slowing down.A handful of deals were done for both products during the week ended Tuesday February 19, in contrast to the previous week when none were reported.Yet, some trad...Read More
Yesterday was President's Day, a holiday celebrated by Wall Street and middle schools alike with a day off. Given this unique opportunity, I took my 12-year-old daughter to the Air and Space Museum on the Mall in Washington, D.C.Air and Space is the most popular of all the Smithsonian museums, averaging 9 million visitors a year, which beats out the Louvre's 8.1 million.My daughter touched the moo...Read More
Rebar suppliers to Russia's Central federal district, the major steel-consuming region in the country, have increased their offer prices on expectations of a seasonal rebound in secondary market demand in March.Fastmarkets' weekly price assessment for domestic 12mm A500C rebar in Russia, including 20% VAT, was 36,000-38,500 roubles ($543-581) per tonne cpt Moscow on Monday February 18, up from 33,...Read More
The price for steel rebar imported into the United Arab Emirates decreased this week in the latest deals, despite demand being stronger than in previous weeks, sources told Fastmarkets on Tuesday February 19.The reason for the fall in the rebar import price was that producers in Oman, currently the main exporter of rebar to the UAE, could not raise their prices for rebar as much as they had for bi...Read More
Hot metal remains the principal method of choice for Chinese steelmakers despite the recent surges in the price of iron ore, according to data from Fastmarkets research this week.The use of hot metal allows Chinese steelmakers to continue to enjoy cost savings in comparison with the use of ferrous scrap, even though production costs have increased following the rises in iron ore prices.The price r...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index continued its impressive New Year's ascent after finally breaking through an overhead wall of resistance at 1130. The Index closed the week at 1143.97 with a gain of 25.7 points or 2.3%. MACD fell to 0.28. RSI added nearly 10 points to 75.17. RSI has now occupied ele...Read More
The Turkish scrap import market continued to be quiet on Tuesday February 19 because of the slow rebar and billet sales in the country, sources told Fastmarkets.The mills in the country were still struggling to sell rebar and billet in both the domestic and export markets, so they were delaying their raw material purchases, Fastmarkets heard."Turkish producers were expecting to sell some rebar to...Read More
Iron ore prices in China were up by 7% in a monthly comparison in January on restocking ahead of the Lunar New Year and the Vale dam failure that boosted seaborne prices.Read More
Seaborne iron ore prices were mixed on Tuesday February 19, with the MB 65% Fe Iron Ore Index dipping slightly while the MB 62% Fe Iron Ore Index saw an uptick after a trade was heard done at a higher price.MB 62% Fe Iron Ore Index: $89.21 per tonne cfr Qingdao, up $0.89 per tonne. MB 62% Fe Pilbara Blend Fines Index: $88.61 per tonne cfr Qingdao, up $0.90 per tonne. MB 62% Fe Iron Ore Index-Low A...Read More
The price trend in the CIS export billet market reversed at the beginning of this week, going downward with buying activity in the major outlets turning sluggish, Fastmarkets heard on Tuesday February 19.This was partially due to the massive volumes of bookings done in recent weeks. Another reason, howover, was the weakening of the import scrap market in Turkey as well as lower billet prices in Ch...Read More
The price for steel rebar imported into the United Arab Emirates decreased this week in the latest deals, despite demand being stronger than in previous weeks, sources told Fastmarkets on Tuesday February 19.The reason for the fall in the rebar import price was that producers in Oman, currently the main exporter of rebar to the UAE, could not raise their prices for rebar as much as they had for bi...Read More
China's domestic rebar prices were mixed on Tuesday February 19 amid some fluctuation in the futures market, with those in the eastern region holding steady while prices in the north fell.Domestic Eastern China (Shanghai): 3,700-3,750 yuan ($547-554) per tonne, unchangedNorthern China (Beijing): 3,750-3,780 yuan per tonne, down 40-50 yuan per tonneTraders in eastern China kept prices unchanged to...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
StrengthsThe best performing metal this week was palladium, up 2.05 percent on a strong market outlook. Gold traders and analysts were split between bullish and bearish this week as gold struggles to get back up to highs seen in January, according to the weekly Bloomberg survey. However, the yellow metal remarkably gained this week even as both the U.S. dollar and equities rose on the news that...Read More
By: Stewart Thomson, Graceland Updates: 1. As US markets re-open after the holiday, the world's "queen of assets" continues her glorious ascent to higher prices. Please click here now. Double-click to enlarge this magnificent short term gold chart.2. The rise above $1332 ushers in my new short-term target: $1355!3. Please click here now. Gold is well on its way to be...Read More
By: Daniel R. Amerman, CFAThe Federal Reserve is currently communicating to the markets that it will likely pivot, and pause two strategies. The first pivot is to stop increasing interest rates. The second pivot is to stop unwinding the Fed balance sheet.While the interest rate pause is getting the most attention - the balance sheet pause could be the most important one for investors over the co...Read More