Mizuho is very bullish on MSFT and CRMAnalysts this morning have issued new notes on tech stocks Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), and Salesforce.com, inc. (NYSE:CRM). Let's take a look at how Wall Street is viewing shares of AAPL, MSFT, and CRM. It's been a big week for Apple shares, which just notched their highest close since early December. The stock is up another...Read More
China's industrial output grew at its slowest rate in 17 yearsDow Jones Industrial Average (DJI) futures are trading modestly above fair value this morning, as traders digest a raft of headlines. While China's industrial output grew at its slowest pace in 17 years in the first two months of 2019, a Bloomberg report indicated a trade meeting between U.S. President Donald Trump and Chinese Presiden...Read More
More uncertainty over Brexit is keeping gold buoyant.Yet gold's currency factor is keeping the metal's price locked in a range.Ultimately, rising safety demand will allow gold's recovery to continue.Gold is consolidating its gains from its November-February rally and remains in a well-defined holding pattern. Pundits remain divided as to whether this holding pattern represents a pause...Read More
Ahead of Fastmarkets' Battery Materials 2019 conference in Shanghai, Fastmarkets looks at use of lithium in next-generation vehicles and other battery uses, as well as soaring prices, which have spurred interest in lithium and boosted its importance in recent years as a battery material. In June 2016, the spot price in China peaked at $27 per kg, more than three times the global contract price, ac...Read More
In contrast to the clear skies outside, a cloud hung over discussions among Indian scrap traders attending the opening session of the annual conference of the Material Recycling Association of India (MRAI) earlier this month in Kochi, southern India.Secretary-general Amar Singh praised the superior air quality in the host city, compared with the metropolises of New Delhi and Mumbai. But delegates...Read More
Gold is turning vigorously lower. And not only gold at that. Red, red, everywhere in precious metals you look. The silent scream we wrote about yesterday brought serious repercussions. In this article, we devote extraordinary attention to the short-term picture throughout the PMs complex. Stay tuned as in the coming day(s) we'll explain here how it affects the long-term charts and the 2012-201...Read More
Section 232 tariffs on aluminium and steel raised $3.6 billion in their first nine months, and revenues for the last two months are likely to push that figure up by around another $1 billion, US government data shows.That figure would be enough to cover the shortfall in funding sought by United States President Donald Trump for border security. In other words, aluminium and steel tariffs could fun...Read More
• Rebounding US bond yields triggered the initial leg of the downfall. • A goodish pickup in the USD demand adds to the bearish pressure. • Technical selling below $1300 mark intensifies the intraday slide. Gold remained heavily offered through the early North-American session and tumbled to fresh daily lows in the last hour.&nb...Read More
The prices for nickel and copper were the poorest performers in trading on the London Metal Exchange on Thursday March 14, Fastmarkets has heard.Weaker data on China's industry drove the LME three-month nickel price down by 2.2% to $13,185 per tonne at the close of trading."The January-February combined data on Chinese industrial production, retail sales and fixed asset investment failed to provid...Read More
Stocks extended their uptrend on Wednesday, as investors' sentiment remained bullish following the recent advances. The S&P 500 index was the highest since the early October yesterday. But will the rally continue despite some short-term technical overbought conditions?The U.S. stock market indexes gained 0.6-0.7% on Wednesday, as investors' sentiment remained bullish. The S&P 500 index ret...Read More
The United States copper market failed to hold onto previous gains during morning trading on Thursday March 14, with weaker-than-expected Chinese data capping the base metals space.The copper price for May settlement on the Comex division of the New York Mercantile Exchange dipped 4.30 cents to $2.8925 per lb. Data released by China's National Bureau of Statistics (NBS) at around 10am Shangha...Read More
Investing.com - Gold prices fell on Thursday in Asia even after China reported weaker-than-expected industrial output data.Gold Futures for April delivery were down 0.5%, at $1,303.35 per ounce on the Comex division of the New York Mercantile Exchange by 1:11 AM ET (05:11 GMT). The precious metal remained above the key $1,300 level after hitting a near two-week peak of $1,309.60 on Wednesday.China...Read More
Iron ore prices jumped on Thursday March 14 amid a positive destocking of steel products in China and signs of loosening restrictions on steelmaking operations.MB 62% Fe Iron Ore Index: $87.26 per tonne cfr Qingdao, up $2.48 per tonne. MB 62% Fe Pilbara Blend Fines Index: $86.38 per tonne cfr Qingdao, up $2.48 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.50 per tonne cfr Qingdao, up $2.80...Read More
The Indian government's plans of hitting 300 million tonnes of steel capacity by 2030 sounds overambitious in the current scenario given that output only managed to reach the 101 million tonne mark in 2017 - indicating three-fold (Read More
In a once rare property crime now trending higher around the world, thieves are stealing precious metals from automobiles. These opportunistic criminals don’t bother rummaging through glove compartments in the hope of finding stashed jewelry or gold coins. Instead, they go for the near certain score of exposed catalytic converters. A car’s catalytic converter is attached to its exhaust...Read More
After suffering for some seven years through to 2015, the world's steelmakers have had cause for cheer over the past couple of years. After some heavy losses and write-downs, they finally appear to have emerged from the wreckage of the global financial crisis. An economic upswing has taken root in most regions of the world, Chinese steel output and export growth has slowed noticeably, and steel pr...Read More
China's month-on-month new electric vehicles (NEV) sales rebounded in August after month-on-month declines in June and July. The drop in sales between May and June was the first drop since September 2016, but Fastmarkets MB had expected Chinese NEV sales to dip temporarily after the June subsidy changes came into effect because consumers and NEV manufacturers would have to adjust to the new subsid...Read More
Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More
The steel scrap sector in the United States still depends on exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London.This dependence persists despite the changes in the international markets created by the US' imposition of its Section 232 tariffs on imports of steel products, metals analyst Le...Read More
Seaborne pig iron has become relatively competitive versus ferrous scrap over the past year in most regions, and China is no exception. As the first chart below illustrates, the gap between the MBR's proxy for imported pig iron price in China and the Metal Bulletin's Chinese domestic heavy melt scrap price assessment had shrunk by late 2017. The premium averaged $17 per tonne this year to date, co...Read More