Pier 1 said it will be closing around half its stores and cutting jobs Homegoods retailer Pier 1 Imports Inc (NYSE:PIR) announced last night that it would be shuttering nearly half its stores and cutting jobs. The firm also issued a warning over its ability to carry on as a going concern, as Amazon (AMZN) and other e-tailers continue to corner the market. Additionally, a Bloomberg report suggested...Read More
This year could look similar to 2019 on the merger and acquisitions front in the United States steel industry, with long products likely to be busier than flat products, according to analysts."People will get to doing deals [in 2020] much like [last] year - very selectively and where the strategic fit is right and they can bring some synergies to the table. I think that's what is really going to d...Read More
Tesla has nearly doubled within the past six monthsElectric car maker Tesla Inc (NASDAQ:TSLA) is back in headlines this morning, fresh off news it has begun production for its Model Y SUV in its new Shanghai factory. Tesla recently announced the delivery of its Model 3 sedans, as well as a 16% price drop on the vehicle after receiving subsidies from China. This morning, TSLA is up 1.3% at $459.07...Read More
A summary of base metals premiums from across the globe for the week to Tuesday January 7.Click on...Read More
This year could look similar to 2019 on the merger and acquisitions front in the United States steel industry, with long products likely to be busier than flat products, according to analysts."People will get to doing deals [in 2020] much like [last] year - very selectively and where the strategic fit is right and they can bring some synergies to the table. I think that's what is really going to d...Read More
1. As America loses a ridiculous trade war and manufacturing activity tumbles to 10year lows, the nation's horrific GDP growth rate for 2019 was ranked an abysmal... number 107 in the world. 2. The outlook for 2020 is even worse. The government's debt to GDP ratio is more than 100%, and the rancid "end of empire" cake is now getting iced with maniacal debt-oriented warmongering.3....Read More
Two asset types have shot up since the instigation of the explosive situation in the Middle East last week: oil and gold. There’s a logic behind these movements, however.Momentum investors are betting that oil prices will rocket in the event that the tension in Iraq boils over, with the possibility of a bottleneck at the Strait of Hormuz. Gold, on the other hand, is a classic defensive play...Read More
And just like that, we're in the year 2020. It wasn't long ago that the year 2020 seemed like a distant, nearly unattainable time period. It was so distant to some, that people thought we would have flying cars (not even close), robots that do everything for us (sort of close), and machines that would be able to construct just about anything (mostly close - 3D printers) when it finally arrived....Read More
(Image: Wikimedia Commons) After spiking to a near seven-year high when news of an Iranian missile attack on a US base in Iraq first broke, the price of gold plummeted on Wednesday. Wednesday was one of the worst trading sessions in dollar terms in gold market history with the gold price dropping to $1,553.40 an ounce in afternoon trade - down 3.7% or $59.90 an ounce from the peak above $1,600 re...Read More
1. As America loses a ridiculous trade war and manufacturing activity tumbles to 10year lows, the nation's horrific GDP growth rate for 2019 was ranked an abysmal... number 107 in the world. 2. The outlook for 2020 is even worse. The government's debt to GDP ratio is more than 100%, and the rancid "end of empire" cake is now getting iced with maniacal debt-oriented warmongering.3....Read More
Neptune Terminals, one of the largest multi-product bulk terminals in North America, has the capacity to handle more than 24 million tonnes a year. Credit: Neptune Terminals Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) announced Wednesday an expanded commercial agreement with Ridley Terminals Inc. (RTI) for shipments of steelmaking coal from Teck's British Columbia operations. The...Read More
Credit: Epiroc Last year, Aramine was appointed as the as official distributor of Epiroc products for underground mines and tunnels in France and in several strategic countries in central and west Africa.The Epiroc range complements Aramine's portfolio of machines. According to Marc Melkonian, Aramine's president, "Epiroc's trust is a mark of recognition of our long-standing partnership, and this...Read More
Decar nickel-iron project, British Columbia. Image by FPX Nickel FPX Nickel has released the results of pressure leaching testwork on nickel concentrates from its 245-sq.-km Decar nickel project located in central British Columbia. Based on nickel recoveries in excess of 98%, the company believes that the resulting solution could be an ideal feed for the production of nickel sulphate and cobalt s...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday January 8.Please click...Read More
Credit: Blast Movement Technologies Hexagon has announced the acquisition of Blast Movement Technologies (BMT) from RCF Jolimont Mining Innovation. BMT supplies a unique blast movement measurement technology to the global mining industry. BMT's technology enables accurate delineation of ore boundaries after blasting in open pit mining. This enables miners to recover more ore, increasing efficienc...Read More
The three-month zinc price on the London Metal Exchange settled at a two-month high at the close of trading on Wednesday January 8, climbing by just under 2% and breaching the $2,400-per-tonne resistance level against the highest daily trading volumes since September 2019.Zinc's outright price on the LME closed at $2,403 per tonne, its highest closing price since November 13, while daily turnover...Read More
In what some market participants called a short-term move, the nickel briquette premium crept up in the United States on Tuesday January 7, while all other regions had a slow return to business after year-end holidays. Some US sales pushed up the US nickel briquette premium incrementally Europe welcomes a return to contango in the London Metal Exchange nickel forward price spread Shangha...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday January 8 that are worth another look.Escalating tensions between the United States and Iran have not affected appetite in Southeast Asia for Iranian steel products, sources told Fastmarkets.Limited buying interest ahead of national holidays has dragged the Shanghai copper premium to its lowest level in almost three years, whi...Read More
Bernstein analysed long-term price to earnings (Shiller P/E) for the mining industry, finding valuations are at 100-year lows.Read More
Under terms of the agreement effective from January 2021-2027, Teck will increase contracted shipping capacity from the Price Rupert terminal from three million tonnes per annum to 6Mtpa, with anRead More