Vietnam's tungsten miner Masan Resources has hired former Amalgamated Metals Corporation (AMC) trader William Parry-Jones, the company told Fastmarkets on Thursday June 13.Parry-Jones has joined the company this month as its manager for tungsten raw materials and has relocated to Hanoi from London after almost eight...Read More
The Thursday Market Minute U.S. stock futures gain amid a surge in global crude prices following attacks on two shipping tankers in the Strait of Hormuz.Two ships reported being hit by missiles or explosives, while U.S. Navy vessels were sent in support, as tensions in the busy crude traffic lane intensify.Asia stocks slide prior to the oil surge on concerns over stall U.S.-China trade talks and...Read More
Turkish steel producers have continued their deep-sea scrap purchases, increasing their combined tonnage for import to 226,000 tonnes in two days, sources said on Thursday June 13.In addition to two deep-sea cargoes booked early on June 12, four steel mills booked five more cargoes late that day.A steel mill in the Marmara region booked a US cargo, comprising 18,000 tonnes of HMS 1&2 (80:20) at $2...Read More
Gold prices scored back-to-back session gains on Wednesday, with global headlines emphasizing trade-war uncertainty, tensions in the Middle East and protests in Hong Kong providing a lift to the haven metal. "Renewed worries over the U.S.-China trade war and its impact on the global economy are pushing gold higher," said Mark O'Byrne, research director at GoldCore. Those "trade tensions may be pri...Read More
The Chilean government expects to publish new lithium mining concession rules next week, in hopes that "clearer regulation" will boost projects in the country, deputy mining minister Pablo Terrazas said at Fastmarkets' 11th Lithium Supply and Markets Conference."We have decided that Chile needs to increase its lithium production, and President Sebasti??n Pi??era gave the ministry of mining the man...Read More
Dear Energy and Capital Reader,My name is Lillie, and I'm a first-year college student currently studying at the University of Amsterdam in the Netherlands.Given my many years of experience, I can safely say that I don't know much about most things; however, I do know a good opportunity when I hear one, and when my uncle offered to pay me to write 1,000 words on the Amsterdam Fintech conference, I...Read More
Chatham Rock Phosphate Limited (TSXV: NZP, NZAX: CRP) is the custodian of New Zealand's only material resource of ultralow cadmium, environmentally friendly pastoral phosphate fertilizer, and aims to be the premier supplier of direct application phosphate to the New Zealand and global agricultural sector. The low-cost resource located 400 meters under the water offshore New Zealand, represents one...Read More
An increasing number of cobalt sulfate producers in China have cut, or are planning to cut, output in response to falling battery raw materials prices amid stagnant demand, market sources told Fastmarkets MB.In addition, some producers have switched to producing other chemistry compounds, including cobalt chloride and nickel sulfate, sources added. But market participants have mostly downplayed th...Read More
It'll likely go down as the biggest IPO of the year.Beyond Meat (NASDAQ: BYND), the company that makes a pretty spectacular plant-based burger, debuted less than two months ago.Since then, the stock has climbed more than 313%.Those who got in early made a boatload of cash.Those who are chasing it now, however, are going to lose a lot of money.Although Beyond Meat is a solid company that will do ve...Read More
Domestic prices for heavy steel plate across Europe have inched down over the past week due to slow trading activity, sources told Fastmarkets on Thursday June 13."I do not expect prices to recover any time soon, because trading activity is very weak in the end-markets," a representative of an Italian re-roller said.Fastmarkets' weekly price assessment for domestic grade-S235JR heavy steel plate i...Read More
The domestic price for hot-rolled coil (HRC) in the south of Europe has picked up over the past week, supported by production cuts, market sources told Fastmarkets on Thursday June 13.Steel mills in the region continued with their attempts to raise prices further, while bigger Italian buyers returned to purchasing imported material, according to market participants.Fastmarkets' weekly price assess...Read More
China's hot-rolled coil prices continued to drop on Thursday June 13, narrowing producers' already-slim margins further amid rising costs.DomesticEastern China (Shanghai): 3,820-3,830 yuan ($552-554) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,780-3,790 yuan per tonne, narrowing downward by 10 yuan per tonnePrices continued to drop during the day with trading activity remaining th...Read More
The price of steel billet imported into Egypt has decreased in the week to June 13 on lower offers due to a lack of domestic demand.Billet producers, from the Commonwealth of Independent States (CIS) in particular, expected demand to pick up after the observance of the Islamic holy month of Ramadan, but the market remained quiet this week.The recent drop in...Read More
Domestic long steel prices in Turkey have gone down over the past seven days, due to weak demand and falling imported scrap costs, sources said on Thursday June 13.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,200-3,220 ($551-554) per tonne ex-works on Thursday, down from last week's TRY3,330-3,400 per tonne.The domestic rebar price in the Izmir region was TRY3,220-3,2...Read More
Turkish rebar and wire rod prices have gone down in line with the decline in imported scrap values, while demand has also been limited over the past week, sources said on Thursday June 13.The country's steel producers reduced their rebar offers to $460-470 per tonne fob on an actual weight basis, from the $480-490 per tonne offers heard before the Eid al-Fitr religious holiday last week.But the hi...Read More
Turkish steel producers have continued their deep-sea scrap purchases, increasing their combined tonnage for import to 226,000 tonnes in two days, sources said on Thursday June 13.In addition to two deep-sea cargoes booked early on June 12, four steel mills booked five more cargoes late that day.A steel mill in the Marmara region booked a US cargo, comprising 18,000 tonnes of HMS 1&2 (80:20) at $2...Read More
Seaborne iron ore prices jumped above $110 per tonne cfr on Thursday June 13 - their highest level in more than five years - driven by persistent bullishness, sources told Fastmarkets.MB 62% Fe Iron Ore Index: $110.16 per tonne cfr Qingdao, up $3.56 per tonne. MB 62% Fe Pilbara Blend Fines Index: $108.96 per tonne cfr Qingdao, up $3.56 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $114.50 per t...Read More
- Gary Christenson, The Deviant InvestorWe can face reality by swallowing the "red pill" (from the movie "The Matrix). This choice is uncomfortable because it opposes the propaganda from mainstream media, government statisticians, and Wall Street cheerleaders.The "red pill" road is difficult and sometimes lonely. Gold is a "red pill" choice.The "blue pill" path is easier and reassuring. Other...Read More
By: Ira EpsteinGold Fibonacci shows supports below, 18 DMA about to move above the 100 DMA, moving above is a bullish crossover:Read More
Here is the best explanation I've seen to date of how the U.S. stock market works. It is from John Jay, who posts regularly in the Rick's Picks Forum: "The stock market is the primary bag-man the Federal Reserve uses to transfer the U.S. Dollars they create from thin air to the .01%." Just so. When you consider how many hundreds of billions of dollars find their way into the pockets of the ve...Read More