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
By: IRA EPSTEINGold at 18-DMA. Bearish momentum being lost. Gold price figuring out what to do next:Read More
Boeing has bounced very precisely from the 363.20 midpoint pivot shown, validating the pattern and its very bearish 'D' target at 323.72. This means that if and when the bounce from today's low sputters out and the stock relapses beneath 363.20, it could fall all the way to 323.72, or 14%, in search of traction. The secondary pivot at 343.46 would become our minimum downside objective at that...Read More
By: Stefan Gleason, 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...Read More
BCS Global Markets, one of Russia's largest securities brokers, believes that Russian oligarch Roman Abramovich's newly-acquired shareholding in Russia's largest miner Nornickel may lose value.Abramovich's investment firm Crispian Investments acquired the 2.5% stake for $551 million on Wednesday March 13.But the oligarch's share may depreciate in value in line with expectations that nickel prices...Read More
UK ferrous scrap prices for deliveries in March have been settled at values unchanged from the month before, with higher export prices and steady domestic British demand supporting the move, trade sources told Fastmarkets on Thursday March 14.The sideways moves in UK prices consolidate a jump of ?20 per tonne in February. This came after European export prices to key destination Turkey rallied by...Read More
Fastmarkets' alumina index fob Australia moved above $400 per tonne and to its highest since mid-December 2018 following increased buying demand in the market and continued tight supply. The daily fob Australia alumina index rose to $402.70 per tonne on Thursday March 14, up from $396.92 per tonne the previous day and 3.5% higher week on week. Key drivers Renewed bullish sentiment in th...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday March 14 that are worth another look.Metal trading funds and the metal commodities industry in general are increasingly focused on trading copper spreads and staying away from bets on outright price, panelists at the International Copper Conference said on Wednesday March 13. At Fastmarkets' 20th Asian Ferro-alloys confere...Read More
A thin earnings schedule still features some important namesThe main focus of the upcoming trading week will be the two-day Federal Open Market Committee (FOMC) meeting, which begins on Tuesday. Investors will be awaiting a Wednesday policy decision to see if the Fed will maintain its dovish stance. There are a few names to watch on the earnings front, too, including delivery giant FedEx (FDX) and...Read More
Advantage Lithium Corp said on Thursday it has temporarily replaced Chief Executive David Sidoo after he was arrested last week by U.S. authorities as part of a sweeping college admissions scheme.The company, which is developing a lithium project in Argentina, has named board member Callum Grant as its interim president. "All plans are the same to put Advantage into production at some point," spok...Read More
The brokerage firm sees strong growth for the solar stockThe shares of Vivint Solar Inc (NYSE:VSLR) are up 4% to trade at $5.21, after Goldman Sachs took a bullish stance to the alternative energy sector. The brokerage firm said it anticipates " lower costs for solar and favorable policy support ... to drive meaningful upside to the market," and forecast year-over-year utility-sector solar install...Read More
A California jury awarded a woman $29 million The shares of Johnson & Johnson (NYSE:JNJ) are down 0.9% at $138.16 in early trading, after a California jury awarded $29 million to a woman who claimed that the asbestos in the company's talcum-based powder gave her cancer. The blue chip said it would appeal.JNJ shares plummeted in mid-December, amid reports the company was aware of asbestosin its bab...Read More
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