Cobalt prices continued their recovery on Wednesday April 17, although gains were more muted than in recent weeks as buyers assessed their restocking needs after recent price increases. Fastmarkets assessed standard-grade cobalt prices at $15.60-16.75 per lb, in-warehouse, on April 17, up from $15.35-16.75 per lb previously. Alloy-grade prices rose to $16.85-17.65 per lb, up 20 cents on...Read More
Prices for coated flat steel products in Turkey remained stable in the week ending Thursday April 18, with demand soft in the domestic market.Demand failed to improve because of the weak Turkish lira and the current economic uncertainty.The lira was trading at TRY100 to $17.3698 on April 18, compared with TRY100 to $17.4791 on April 12 and TRY 18.7654 on March 1, according to exchange rate...Read More
On April 8th we sent out a short-squeeze alert to our Canadian Insider Research Club members about a US-focused cannabis stock listed in Canada. Since the report, the stock has gone on to set new all-time highs. Not surprisingly, the stock is flying again today on the back of the news that Canopy Growth (WEED) is doing a deal to enter the American market.This report is available in the Canadian I...Read More
Most prices for steel coil products in Turkey decreased again over the week to Thursday April 18, with buying activity remaining subdued.Demand in the local market was still soft because of the continuing weakness of the Turkish lira and the expectation that prices will fall further.The lira was trading at TRY100 to $17.3698 on April 18, compared with TRY100 to $17.4791 on April 12 and TRY 18.7654...Read More
China's domestic hot-rolled coil prices dipped on Thursday April 18, following a drop in the futures market, although export prices were little changed amid sparse trading.DomesticEastern China (Shanghai): 3,970-3,980 yuan ($593-595) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,910-3,920 yuan per tonne, down 20 yuan per tonneTrading was thinner on Thursday than during the...Read More
Reinforcing steel bar prices have decreased in the United States due to downward pressure from falling raw material costs and some reports of slower market activity, market sources said. Fastmarkets AMM's price assessment for domestic rebar stood at $34.50-35.50 per hundredweight ($690-710 per short ton) fob mill on Wednesday April 17, down by 2.4% from $35.25-36.50 per cwt two weeks earlier. At t...Read More
The decision by the European Commission (EC) to suspend carbon emissions allowances issued by the UK government under the EU's Emissions Trading Scheme (ETS) is expected to remain valid until the UK is able to reach a deal with the EU on the country's exit from the union, Richard Warren, head of policy at industry body UK Steel, told Fastmarkets on Thursday April 18.Allowances issued by the UK wer...Read More
The Turkish rebar export price has weakened further in line with sluggish demand over the past week, while the export price for wire rod remained stable, sources said on Thursday April 18.Fastmarkets' weekly price assessment for rebar exports out of Turkey was $475-480 per tonne fob on actual weight basis on April 18, down from $480-485 per tonne last week.Steel mills in the country were offering...Read More
* Daimler's CEO designate to seek cost savings - ManagerMagazin * Mercedes to seek 6 bln euros' in cuts - Manager Magazin * Daimler Trucks to seek 2 bln euros in cuts - ManagerMagazin * Daimler declines comment (Adds line about job cuts)FRANKFURT, April 18 (Reuters) - Daimler islooking to make 6 billion euros ($6.75 billion) in cost savingsand efficiency gains by 2021 at Mercedes-Benz passenger ca...Read More
Global ferrous scrap prices rebounded in the week to Thursday April 18 on returning demand from Turkish steel mills. Export prices on the United States' East Coast moved up as a result.But demand was limited in the key import market of Vietnam due to a mill stoppage, while Taiwanese steel mills remained well-stocked. Turkey demand returns US market picks up on East Coast Mill stoppage in Vietnam d...Read More
Austenitic alloy steel scrap prices in the UK increased in the week ended Thursday April 18 because of higher demand this month compared with the first quarter of the year, and despite lower nickel prices.Another supporting factor was the concessions given by stainless steel mills during April for the price paid for the nickel component of the metal.Traders said that further concessions in May wer...Read More
Turkish steel producers have gone through Thursday without making any deep-sea scrap purchases, because the political situation in the country has changed and the value of the country's lira has become more volatile, sources said on Thursday April 18.Turkey's supreme committee of elections (YSK) has declared opposition candidate Ekrem Imamoglu the winner of the recent mayoral election in Istanbul,...Read More
Imported and domestic prices for steel billet in Turkey have gone down slightly over the past week, while export prices were stable, sources said on Thursday April 18.Suppliers in the Commonwealth of Independent States (CIS) lowered their offers to $445-450 per tonne cfr, while some material from eastern Ukraine was offered at prices as low as $435 per tonne.But Turkish customers were bidding arou...Read More
By: IRA EPSTEINAbbreviated trading in many markets, lower volumes. Friday closed. Gold in bearish trend, $1297-1300 resistance. Market oversold, bearish tone unless moves back above $1,300:Read More
Today's chart shows why it can be so difficult to make money in a bull market, even when one "knows" how high a stock is headed. We've been confident that Facebook will eventually hit 190, a Hidden Pivot target first aired here more than three weeks ago when the stock was trading around 167. We still think it'll get there, come hell or high water. But what an agony it has been to simply go w...Read More
By: David Chapman Coimbra, Portugal Not much happened this past week. The S&P 500 gained 0.5% while the Dow Jones Industrials (DJI) was essentially flat. Gold was also flat but silver lost 0.9%. Here in Canada the TSX Composite gained 0.5% while the TSX Venture Exchange (CDNX) lost 0.7%. The US$ Index fell 0.4% while the Canadian dollar gained 0.4%. Gold stock indices fell portending a further...Read More
There is no hope for gold and silver next week if they do not see short covering and rise. Physical demand for gold and silver will be high in Asia and more so in India and Indonesia as they open after a holiday. Risk traders use a buy on sharp dips strategy with a stop loss below $1255 for Monday and a stop loss below $1440 for silver for Monday. Copper is bullish and seems headed for $310 next...Read More
Oman's Jindal Shadeed, part of India's Jindal Steel & Power (JSPL), has successfully commissioned a new billet caster with a capacity of 2 million tonnes per year at its mill in Sohar in northern Oman, equipment provider SMS Group said on Thursday April 18"[The new billet caster] is currently operating with six strands and produces rebar billets of 165 millimeters square section at a casting speed...Read More
"Technically, the recession was over in June 2009 and the U.S. economy has been expanding ever since. We're coming up on 10 years of expansion, it's one of the longest expansions in U.S. history and it's one of the longest bull markets in stocks in U.S. history, so that's true. But, it's also been the weakest expansion in U.S. history. For 10 years average growth has been about 2.2%."Jim Rickards...Read More