McDonald's Corp (MCD) looks overvalued at these levels. The stock is a good short sell candidate.Investors or traders comfortable with options exposure may consider selling call spreads to take advantage of elevated stock price levels.On a fundamental basis, MCD has been on a strong run and additional outperformance is unlikely.The stock price of McDonald's Corp (MCD) is up 20% so far in 2019....Read More
An overall bearish mood has prevailed in most of the noble alloys markets in the first half of the year with some prices now trading at multi-year lows in contrast to record highs hit last year. The vanadium market fell by the most in percentage terms out of the complex with both ferro-vanadium and vanadium pentoxide prices plummeting by more than 50% since the beginning of the year. Both prices h...Read More
Who is really the whale in the silver market?by Matt From Silver Fortune via Silver FortuneExcellent work by Alasdair Macleod regarding who the whale in the silver market really is.Tune-in for Matt's analysis below:Read More
Gold-backed currency provides a stable store of value and discipline when compared to fiat currencies.The price of gold at the end of 2000 was $272.65 per oz., as compared to $1,392.35 as of July 9, 2019, which represents an implied compound rate of inflation of about 9% per year, as compared with the average change in the CPI of 2.1% per year over that period.Given that world's economies are...Read More
Concerns about widening restrictions on imported coal at Chinese ports took center stage on Tuesday July 16, even as trading activity in the spot market remained subdued. A branded cargo changed hands at $180 per tonne fob Australia on the Global Coal platform, sources said during the day. The trade was not included in the calculation of Fastmarkets' fob DBCT index as it fell outside the eight-wee...Read More
Gold is consolidating above the breakout level.Lower rates favor the yellow metal.A weaker dollar is also bullish for gold.A triple-leveraged ETN product is only appropriate for short-term trades.DUST is on its way to another reverse split.When the US Federal Reserve told markets that they would be cutting the Fed Funds rate over the coming months at the June FOMC meeting, it lit a bullish fuse un...Read More
China's hot-rolled coil producers conceded to lower export prices on Tuesday July 16 despite some gains in the domestic market, with overseas buyers unwilling to pay too much for Chinese products.DomesticEastern China (Shanghai): 3,880-3,900 yuan ($564-567) per tonne, up 30 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, unchangedPrices picked up in Shanghai amid moderate tradi...Read More
China's domestic rebar prices picked up some strength on Tuesday July 16 on early gains in the futures market, but the export segment continued to soften on weak demand. Domestic Eastern China (Shanghai): 3,970-4,000 yuan ($577-582) per tonne, widened upward by 10 yuan per tonneNorthern China (Beijing): 3,890-3,920 yuan per tonne, up 20 yuan per tonneTraders raised prices during the day in respons...Read More
David BeckerJul 15, 2019 7:12 PM GMTGold prices moved sideways edging lower forming a bull flag continuation pattern which is a pause that refreshes higher. The dollar moved slightly higher on Monday after rallying most of last week. There were a combination of mixed issues creating both headwinds and tailwinds for market participants. US yields moved lower on Monday but yields in Europe fell fast...Read More
Gold futures edged higher on Monday, settling at their highest in almost two weeks as prices extended recent gains scored on the back of expectations for a U.S. Federal Reserve interest-rate cut at the end of the month. Gold for August delivery on Comex GCQ19, -0.28% added $1.30, or about 0.1%, to settle at $1,413.50 an ounce. That's the highest most-active contract settlement since July 3, which...Read More
Prices for flat steel imports to the United Arab Emirates and Saudi Arabia fell this week, with demand remaining weak because of the seasonal summer lull.UAE Offers for hot-rolled coil imports from China to the UAE came in at $510-520 per tonne cfr, while buyers were bidding $500 per tonne cfr.No major deal was heard.Working hours in the UAE are limited from June 15 until September because of...Read More
Recylex' listing on Euronext Paris resumed at the opening of the stock exchange on Tuesday July 16 after the lead and zinc recycler announced its projected cash requirements for 2019, 2020 and 2021. Trading in European zinc and lead producer Recylex' shares was suspended on Monday July 8 at the company's own request following an unexplained 40% increase in the share price during the prior two days...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday July 16 that are worth another look.United States President Donald Trump signed an executive order on Monday July 15 aimed at maximizing the use of American-made products and materials, the third pillar of his "Buy American, Hire American" plans.The London Metal Exchange will list Huayou's cobalt cut cathodes with imme...Read More
Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama rose 1.4% month on month in June, data released by major Japanese trading house Marubeni Corp on Tuesday July 16 showed. Total aluminium stocks at the three ports totaled 300,000 tonnes at the end of June, compared with 296,000 tonnes at the end of May, reversing the fall seen from April to May this year....Read More
Rio Tinto's mined copper production fell by 13% year on year in April-June 2019 due to lower production from its Escondida and Kennecott projects reflective of lower grades, the company said on Tuesday July 16. Mined copper production totaled 137,100 tonnes in the second quarter. Production was also down by 5% from 143,900 tonnes in the first quarter of this year. Mined production at Kennecott in...Read More
The global market for refined zinc metal was in a deficit of 123,000 tonnes over the first five months of 2019, marking a 19.41% annual increase from 103,000 tonnes a year ago, the International Lead & Zinc Study Group (ILZSG) said. Refined zinc metal production contracted by 1% to 5.39 million tonnes in the first five months of the year compared with the same period of 2018. ILZSG reported produc...Read More
Turkish suppliers had already used up 70.43% of the annual EU steel import quota for Turkey-origin rebar by Monday July 15, just two weeks after the annual quota period began on July 1.Only 89,178 tonnes of the annual quota volume of 301,538 tonnes for Turkish rebar remains to be allocated. The current quota period will run until June 30, 2020.As of July 15, no further tonnes were awaiting allocat...Read More
RAPAPORT... Sales of rough from Lucapa Diamond Company's Lulo mine doubled to $10 million in the second quarter, reflecting higher volumes and an increase in the average price, the company said Monday.Sales volume surged 63% to 5,573 carats, while the average price grew 22% to $1,800 per carat. Production at the deposit in Angola fell 24% to 3,868 carats, as Lucapa focused on processing...Read More
Egypt's Administrative Court has refused an appeal against the suspension of a safeguard duty on imports of steel billet and rebar, sources in the country told Fastmarkets on Tuesday July 16.Some Egyptian steel mills appealed on July 7 against the decision by the Administrative Court, taken on July 4, to suspend the safeguard duties on steel billet...Read More
RAPAPORT... Gem Diamonds has recovered a white diamond weighing 140carats, the second over 100 carats it has reported this year. It found the high-quality stone on July 6 at its Let??eng mine in Lesotho, the company said Monday.In March, it found a 161-carat white diamond at the deposit. The miner recently recoveredtwo yellow diamonds from Let??eng weighing more than 100 carats. It retrieved a 13...Read More