AMG Vanadium has selected a new Ohio location for its second spent catalyst processing facility as part of its planned expansion to roughly double its annual ferro-vanadium and ferro-nickel-molybdenum production. With the new facility, AMG Vanadium - a subsidiary of Amsterdam-based AMG Advanced Metallurgical Group - will expand its overall spent catalyst recycling capacity by 35,000 tonnes and its...Read More
Nickel's three-month price on the London Metal Exchange was higher at the close of trading on Thursday June 20, settling at its highest level since May 24, while the rest of the complex was buoyed by dollar weakness and strong figures from the United States labor market. The metal's three-month price reached an intraday high of $12,390 per tonne, closing at $12,300 per tonne while total volumes tr...Read More
The brokerage firm sees 30% downside for Tesla stockTesla Inc (NASDAQ:TSLA) stock is down 1.6% this morning to trade at $226.43, in reaction to a scathing bear note from Goldman Sachs. The brokerage firm slashed its TSLA price target to $158 from $200 -- a 30% discount to last night's close -- saying, "a downward path for shares will resume as it becomes more clear that sustainable demand for the...Read More
Deutsche Bank initiated with a "buy" ratingComputer maker Dell Technologies Inc (NYSE:DELL) is climbing the chartsthis morning, last seen up 4.3% at $55.72, after Deutsche Bank initiated coverage with a "buy" rating and $62 price target on the stock. The brokerage firm said it believes DELL could stave off industry headwinds, and might benefit from refinancing opportunities in the event of lower...Read More
CCL is pacing for its worst day since 2012One of the worst stocks on the New York Stock Exchange today is Carnival Corp (NYSE:CCL), down 12.6% to trade at $46.21 this morning. The company's adjusted second-quarter earnings and revenue came in above analyst expectations, but the cruise line cut its 2019 profit forecast, citing the U.S. government policy change toward travel to Cuba. This is pacing...Read More
Alibaba just announced that its "6.18 Mid-Year Shopping Festival" broke records across China The shares of Alibaba Group Holding Ltd (NYSE:BABA) are popping this morning, after the Chinese e-commerce giant announced that its "6.18 Mid-Year Shopping Festival" broke sales records across China. The event, which took place over 18 days and featured over 200,000 brands, helpedmany of the participating...Read More
The Dow is set for a huge open as investors cheer a dovish FedU.S. stock futures are pointing to a higher open, with the Dow Jones Industrial Average (DJI) set for a more than 250-point jump out of the gate. The bullish backdrop comes after the Fed's dovish update yesterday, putting a potential interest-rate cut on the table for 2019. Meanwhile, weekly jobless claims were lower than expected this...Read More
The International Lead and Zinc Study Group (ILZSG) has indicated a slight uptick in global production for both zinc and lead across January-April of 2019, while global zinc demand remains in question against a 1.3% fall in global usage.Across January-April of this year, lead mine production climbed up by 0.7% to 1,544,000 tonnes from 1,534,000 tonnes over the same period in 2018. Refined lead met...Read More
- Gary ChristensonMost of us understand "there's no free lunch." Someone must pay for the products and services we use. The acronym is TANSTAAFL, or "There Ain't No Such Thing As A Free Lunch." The saying has been around for decades, even prior to Robert Heinlein's "The Moon is A Harsh Mistress."Our morning coffee is an example. Coffee beans were planted, grown, harvested, roasted, transported...Read More
-Gary TanashianIt's not a chart of nominal HUI with upside technical targets. We'll do that in NFTRH this weekend, along with the usual individual miners. Rather, it's a companion to other charts we've been reviewing over the last several months showing the under valuation of the gold stock sector relative to gold's performance vs. cyclical assets/markets. For example, gold has risen strongl...Read More
- Hubert MoolmanThe gold market is looking a lot like it did early in the millennium, at the start of the bull market. It is setting up for a gold bull market that is likely to be way more intense than the previous one, due to the structural weaknesses incurred by the monetary system since then.Debt levels, for example, have grown significantly since the early 2000s. US Government debts (Federal...Read More
- Steve St. Angelo, SRSrocco Report After five long years, the gold price has finally broken through a key resistance level and is now heading towards $1,400. When the Fed announced possible rate cuts starting in July, after the market closed, the gold price shot up and continued higher during Asian trading. If gold closes above $1,400 by the end of the month, it could be setting the stag...Read More
- Gary SavagePost FOMC update:Read More
The need for flexible sourcing of direct-reduced iron (DRI) production feedstock will continue over the next three to five years, market participants said at Fastmarkets' 7th World DRI and Pellet Congress in Dubai this week.Steel mills in the Middle East and North Africa (Mena) region are using alternative DRI feedstock such as [lower iron content] blast furnace-grade (BF) pellet and lump iron ore...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday June 20 that are worth another look.The London Metal Exchange has just finished its trial to calculate nickel prices using a volume-weighted average price method on the exchange's electronic trading platform. China will only permit 240,429 tonnes of copper scrap imports in the entire third quarter of 2019, sending pan...Read More
Stronger dollar is creating a renewed short-term headwind for gold.Falling short interest and overcrowding also increase gold's risks.Gold mining stocks, however, will continue outperforming bullion.Gold's progress since last month's bottom has been nothing less than astounding. The rally over the last three weeks has allowed the metal to claim the distinction of being one of the top percentag...Read More
The London Metal Exchange has just finished its trial to calculate nickel prices using a volume weighted average price (VWAP) method on the exchange's electronic trading platform. If early indications are anything to go by, metals market participants did not embrace this method of price discovery in the way some had anticipated. For three months since Monday March 18, closing prices for nickel car...Read More
The United States Secretary of Commerce has joined the growing chorus of voices questioning the current method of setting the US Midwest aluminium premium. Wilbur Ross said the US Midwest aluminium premium is at inflated levels that do not justify the cost of transportation and logistical handling costs that it was originally designed to reflect. His view is being echoed by a number of...Read More
ECB's Mario Draghi may have unintentionally reignited smoldering currency wars with his Sintra, Portugal, comments.President Donald Trump was immediate in his reaction and conclusion that this was a currency shot across the US economic bow.Gold Technicals are currently strong, and a catalyst like competitive devaluation could awake gold from its long dormant hibernation.ECB's Mario Draghi may...Read More
A decade ago, the Shanghai Futures Exchange launched its steel rebar futures contract. In the years that followed it has become the gold standard for steel derivatives, achieving a success that other exchanges aspire to emulate. And they are definitely trying, with a total of 11 steel derivatives contracts launched by the main trading exchanges since. SHFE, which launched a wire rod futures contra...Read More