With the supply/demand balance moving in favor of miners, the outlook for uranium stocks is the brightest it has been in years, according to McAlinden Research Partners. SUMMARY: Uranium has been enjoying a stealth bull market due to the coronavirus outbreak. Temporary mine closures to slow the spread of the virus at production facilities have triggered an unexpected supply squeeze, sending the pr...Read More
Domestic prices for hot-rolled coil in both Northern and Southern Europe dropped over the week ended Friday May 1 due to supply exceeding demand.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?425.63 ($467.04) per tonne on May 1, down by ?,?17.50 per tonne week on week and down by ?,?46.87 per tonne since the start of April.Friday's index was calculated b...Read More
There are as many ways to play the PM sector as there are investors. Some will only buy the big cap PM stocks for safety. Others will only buy the mid cap producers. Some will only buy a mix of big caps and mid cap producers. And then there are the PM stock investors that will only play the juniors. Each has its own advantage depending on your risk tolerance. Some of you are wondering why is Rambu...Read More
Here are five Fastmarkets stories you might have missed on Monday May 4 that are worth another look.Flat-rolled steel import prices were mostly stable week on week in South America on Friday May 1, after deals became scarce and negotiations for June-shipment cargoes finished with low interest from clients.The European Commission's (EC) antitrust authorities granted Europe's largest copper smelter...Read More
Chris Vermeulen, CEO & Founder of Technical Traders Ltd., joins Tom Bodrovics at Palisade Radio to discuss the markets and Chris says, “This is the time to really be paying attention to the markets… It could be a bloodbath.”Chris is seeing uncertainty that could bring equities lower as money is flowing into safe havens. The charts are showing that markets are approaching a m...Read More
Gold stocks are the crazy ride in the markets. The swing are so great it does not matter if you miss a bullish the break out as another deep pull back allows you to enter with ease. The good news is the (!XAU) PHLX Gold/Silver Index (in the chart below) is very friendly to price cycles. These cycles can be used for timing markets, it also makes it clear if you fight the price cycle you may be in l...Read More
Well boys and girls The Straits of HELL have just been breached, JUMPED with a GAP, which leaves us with one of the LARGEST Island Bottoms of all times, IF not the largest.To me that signifies that whomever they are, Monetary or Governmental Authorities, Et Al, have lost control.and that Precious Metals will do as they need to, based on the leadtime of the GDX.Good Luck All, BREAK A LEG !! The G...Read More
Christine Keener has been appointed Alcoa's vice president of operations for Europe and North America, in a new role combining the two operating locations, Fastmarkets understands. The consolidation, effective from Friday May 1, will streamline the management of operating Alcoa's assets and ensuring alignment among common markets, the company said. Keener replaces Jean Francois Cyr and...Read More
The three-month price of copper on the London Metal Exchange was higher at the close of trading on Monday May 4, pushing above nearby resistance levels despite the lowest daily trading volumes since April 6, while tin similarly staged a modest recovery in afternoon trading.Copper's outright price on the LME closed at $5,123 per tonne, recovering from an intraday low of $5,060 per tonne, while just...Read More
If you believe, as I do believe, that they're going to continue printing money to bail-out everyone, then there's a very strong, long-term case to own...by Simon Black of Sovereign ManAt precisely 4pm on Friday October 17, 1975, New York City's government would have a $453 million in debt to repay.But literally the night before, the city's government had only $34 million on hand.It was the makings...Read More
The outlook is VERY bearish...by Przemyslaw Radomski via Sunshine ProfitsGold and the US dollar - the yellow metal doesn't really move regardless of the greenback. As the strength of their relationship (and even the direction gold takes in response) change over time, let's start today's analysis with a quick look at how they are doing currently. You're probably wondering why didn't gold slide, giv...Read More
After being pummeled to record-low levels relative to gold, an epic silver mean reversion higher is underway. Here are the details... by Adam Hamilton of Zeal LLCSilver is powering higher in a new bull market after getting clobbered in March's stock panic. Investors have been flocking back to silver in the aftermath of that ultra-rare extreme-fear event. That brutal selloff also utterly wiped...Read More
The seaborne coking coal market was muted on Monday May 4 in the absence of China, the only country that has been buying metallurgical coal spot cargoes since the global spread of Covid-19. Fastmarkets indices Premium hard coking coal, fob DBCT: $107.12 per tonne, unchanged Premium hard coking coal, cfr Jingtang: $117.33 per tonne, unchanged Hard coking coal, fob DBCT: $93.26 per tonne, unchanged...Read More
Seaborne iron ore prices were flat on Monday May 4 from Friday April 1 due to a holiday in China, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $84.04 per tonne, unchanged.62% Fe low-alumina fines, cfr Qingdao: $86.70 per tonne, unchanged. 58% Fe fines high-grade premium, cfr Qingdao: $72.13 per tonne, unchanged. 65% Fe Brazil-origin fines, cfr Qingdao: $101.70 p...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The first quarter continued the trend of 2019 - for China to actively import relatively cheap metallics and semi-finished steel - but can this be sustained? The answer to this question will come down to the price competitiveness of the products, we believe. One additional incentive to continue to import metallics this year -...Read More
Brazilian slab export prices narrowed upward in the week to Friday May 1, with producers trying to push offers higher amid lower global slab supply.Fastmarkets' weekly assessment for steel slab export, fob main port Brazil, moved up by $10 on the low end to $330-345 per tonne, from $320-345 per tonne a week earlier.Offers from Brazil to Asia were reported within the range of $330-335 per tonne fob...Read More
RAPAPORT... Antwerp's four diamond-trading halls will reopen next week as Belgium gradually relaxes its restrictions on movement and social interaction.The government permitted diamond companies to restart operations on Monday, though many employees will work from home. The country had been on lockdown since mid-March as the nation attempted to limit the spread of the coronavirus, with Antwer...Read More
RAPAPORT... Signet Jewelers has hired Vincent Sinisi as senior vice president of investor relations, replacing Randi Abada, the company said Monday.Sinisi has over 15 years of experience as a retail analyst, most recently as executive director of equity research for Morgan Stanley. In his new role, he will be responsible for communicating Signet's strategic growth plans to the investment community...Read More
RAPAPORT... India has resumed manufacturing and exports of gems and jewelry, as the country starts to ease its restrictions following five weeks of lockdown.Eight production units in Surat, the country's diamond-cutting hub, have begun operations at the city's Special Economic Zone, the Gem & Jewellery Export Promotion Council (GJEPC) reported Thursday. Ten shipments of diamonds were expo...Read More
RAPAPORT... Sotheby's achieved $3.3 million at its online Fine Jewels auction, driven by proceeds from its sold-out collection of Graff pieces.The total beat the company's high estimate of $2.8 million for the sale, the auction house said last week. The 18 pieces of Graff jewelry brought in a combined $1.3 million, far surpassing their combined estimate of $730,000. The highest-selling lot wa...Read More