The export price for ferro-vanadium in China rose for a second consecutive week in the latest assessment period ended on Thursday June 6, tracking the strength seen in the domestic market. Fastmarkets MB assessed the export price for ferro-vanadium, min 78%, fob China, at $35-36.50 per kg on June 6, up by 2.1% from $34-36 per kg a week ago. Many Chinese ferro-vanadium exporters maintained firm off...Read More
By: Michael KosaresGold suddenly broke to the upside on the morning of Thursday, May 30th, 2019. After rising nearly $70 - a 5.4% gain and eight-straight days of posting gains, it took a breather on news that Mexico would take steps to stem migrant flow to the United States, thus avoiding the imposition of new tariffs. We asked Zac Storella from Counting Pips, a widely-acknowledged expert o...Read More
Stocks took another bold leap Friday, heedless of payroll data that suggest U.S. employers pulled back on hiring in May across all sectors of the economy. Their clear concern is a global slowdown in China and Europe that appears to be deepening. Copper and crude oil quotes have signaled this as well with a 12% fall in the former and a 20% plunge in the latter. So has the Ten-Year Note, which is...Read More
By: Ira EpsteinGold, there is reason for caution here:Read More
* GRAPHIC-2019 asset returns: (Updates with closing prices)By Eric OnstadLONDON, June 10 (Reuters) - Consumer buying andshort-covering helped aluminium to bounce on Monday from itslowest since January 2017 after data showed an upswing inexports from top producer China, fuelling worries aboutoversupply.Copper and some other industrial metals stabilised on theback of a U.S.-Mexico deal that averted...Read More
Key data from the pricing sessions Europe and the United States for the week-long period to Monday June 10.United States Market sources, including many buyers, agreed that the US silicon price seems to be approaching a floor after declining by at least a few cents per lb every month of 2019.The price for grade-553 silicon has remained nearly flat in thin trading, narrowing to $1.08-1.11 per...Read More
The ferro-silicon markets in Europe and the United States were stable over the week ended on Friday June 7.United States Liquidity in the market indicated that prices had not moved over the week. Sentiment in the market was weakening, which will translate into lower trade prices, sources said.Key quote"There have been few spot transactions this...Read More
Turkish deep-sea scrap import prices have gone down sharply, which was expected after the mills in the country failed to sell finished long steel products to the United States, sources told Fastmarkets on Monday June 10.Two steel mills in Turkey booked three US cargoes over the weekend.A steel mill in the Iskenderun region booked a US cargo on June 8, comprising 12,500 tonnes of HMS 1&2 (90:10) at...Read More
Turkish domestic scrap prices have inched upward over the past week because of the recent uptick in imported scrap prices, sources said on Monday June 10.Three steel mills in the Izmir region increased their buy prices for auto bundle scrap due to the rising cost of imported material.Long steel mill Habas increased its buy price for auto bundle scrap to TRY1,715 ($294) per tonne delivered,...Read More
The development plans in place at Russian nickel producer Nornickel will not be adversely affected by the resignation last year of major shareholder Oleg Deripaska, according to company president Vladimir Potanin.Russian news agency Tass reported Potanin's comments, made on Thursday June 6 on the sidelines of the St Petersburg International Economic Forum (SPIEF).Potanin and Deripaska had battled...Read More
Global risk sentiment improved on Monday June 10 after the United States reached a last-minute trade deal with Mexico over the weekend, averting the imposition of a 5% tariff on all Mexican goods entering the US.The positive trade development has paved the way for the London Metal Exchange three-month base metals prices to recover higher this morning as investors' appetite for risk assets returns....Read More
CLARINGTON - Ontario Power Generation (OPG) is investing in Clarington, with plans to build a new corporate campus by 2024. The completed site will accommodate OPG staff from 15 existing locations across the Greater Toronto Area and Niagara Region, bringing over 2,000 jobs to Clarington and driving savings for ratepayers."OPG is demonstrating their commitment to cutting costs and delivering value...Read More
The Monday Market Minute US stocks set to extend gains following President Trump's decision to suspend tariffs on Mexican imports Saturday, as well as stronger-than-expected China export data and the ongoing tailwind of dovish global central banks.Europe markets gain, but volumes were thin owing to the annual Whit Monday holiday; FTSE 100 posts solid gains as the pound slides following the steep...Read More
Fastmarkets - a leading source of pricing information for the global commodity markets - announces that it has been selected by the London Metal Exchange (LME) as its partner to develop the lithium price benchmark. This global strategic partnership will develop a definitive roadmap aimed at providing a pricing mechanism for lithium that can be utilized throughout the supply chain and will support...Read More
I knew it would be a big winner, but not THIS big.Beyond Meat (NASDAQ: BYND), the maker of what is arguably the best-tasting plant-based burger on the market, has had a killer run since going public last month.I actually wrote about this one, right before the IPO. Here's a small snippet of that write-up ...I'll be honest. I've never been a huge fan of veggie burgers.I'll eat them, but with the und...Read More
On Friday I wrote to you explaining the reasons I believe the rise of socialism in America is inevitable.To summarize: Human development is not linear. Progress occurs as ideals swing from one extreme to another. And the pendulum of American ideals has begun swinging away from crony capitalism and toward a form of socialism.Today I want to follow that up by talking with you about exactly the type...Read More
The export market for hot-rolled coil and cold-rolled coil from the Commonwealth of Independent States (CIS) remained quiet on Monday June 10, with activity yet to pick up after Eid al Fitr celebrations in key destinations.Fastmarkets' weekly price assessment for HRC exports from the CIS was $475-490 per tonne fob Black Sea on June 10, narrowing upward from $470-490 per tonne fob a week...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The INK CIN Index began to bounce back from heavily oversold conditions along with world markets. The Index gained 14.25 points and closed strongly, less than a point off the week's highs, at 1092.81. MACD shot up 4.4 points at 1.54. Our short-term momentum indicator RSI surged 15.16 po...Read More
A further weakening of China's domestic hot-rolled coil prices on Monday June 10 led overseas buyers to bid lower for the product, resulting in sparse trading.DomesticEastern China (Shanghai): 3,810-3,830 yuan ($551-554) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,740-3,750 yuan per tonne, down 50 yuan per tonnePrices continued to drop during the day amid losses in the futures...Read More
China's finished steel exports fell in May on both a year-on-year basis as well as when compared with the preceding month. The country shipped 5.74 million tonnes of finished steel abroad last month, down 16.5% from a year earlier, according preliminary Chinese customs data released on Monday June 10.Last month's exports are also...Read More