Lululemon lifted its fourth-quarter sales and profit forecast Lululemon Athletica Inc (NASDAQ:LULU) stock is up 2.6% before the open, after the firm lifted its fourth-quarter sales and profit forecast on the heels of a strong holiday sales report. LULU lifted its revenue forecast to a range of $1.37 billion to $1.38 billion, and its earnings to $2.22 to $2.25 per share. On the charts, LULU has to...Read More
Clive MaundIt has been a week of surprises since the last updates were posted. First, I had not expected Iran to retaliate following the murder of its top General by a US drone, but it did, despite the risks, as it was politically necessary to assuage the extreme anger of its population who demanded revenge. The next surprise was that Israel and the US did not use this retaliation as an excuse t...Read More
Everyone seems to be focused on Gold recently and seems to be ignoring the real upside potential in Silver. With all the global economic issues, military tensions, geopolitical issues, and other items continually pushed into the news cycles, it is easy to understand why traders and investors may be ignoring Silver.Silver has really not started to move likethe other precious metals. Gol...Read More
Bulls are gearing up for the U.S.-China trade deal signing this weekU.S. stock futures are signaling a bullish start to the week. Coming off Friday's dip, the Dow Jones Industrial Average (DJI) is setting up for a triple-digit gain at the open, while the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) look ready to follow suit. The risk-on backdrop comes as investors look toward the signing of the...Read More
Ukrainian steel billet producer Dneprovskiy Dzerzhinsky Metallurgical Plant (DMKD) has restarted its 900,000-tonnes-per-year No12 blast furnace at its steelmaking facility in the port city of Kamianske on the Dneiper river.Trial pig iron production was started at the end of 2019 and normal operations resumed on Saturday January 4, the company said on January 10. Currently, the daily...Read More
It shouldn’t be a surprise to anyone, because it has happened before.Gold’s quick roundtrip from $1540 to $1610 and back again ($1539 earlier today) had its roots in actions and words between the United States and Iran. Prognosticators say there is more to come. Maybe; maybe not. But there is historical precedent for gold’s action. “In late 1990, there was a good deal of s...Read More
Eastern China's Shagang has cut the prices for its long steel products booked over the January 11-20 period, according to a company announcement on Saturday January 11.HRB400 rebar (16-25mm): 3,880 yuan ($561) per tonne, down by 80...Read More
The World Trade Organization has made a final ruling that the Moroccan authorities violated parts of the WTO's Anti-Dumping Agreement in its imposition of tariffs on hot-rolled coil imports from Turkey.The WTO panel findings included the fact that Morocco failed to conclude its investigation within the 18-month maximum time limit and failed to inform all interested parties...Read More
Hot-rolled coil prices in the United States rose on Monday January 13, with buyers accepting a greater amount of the combined five price increases domestic mills have announced since October.Fastmarkets' daily hot-rolled coil index, fob mill US was calculated at $30.75 per hundredweight ($615 per short ton) on Monday, up by 1.2% from $30.38 per cwt on Friday January 10. Sources reported lead times...Read More
The three-month copper price on the London Metal Exchange was higher at the close of trading on Monday January 13, settling at a nine-month high against moderate volumes traded, while aluminium futures stagnated despite tumbling exchange stocks.Copper's underlying price on the LME closed at $6,290 per tonne on Monday afternoon, its highest settlement price since April 2019, while its daily trading...Read More
By: Gary SavageAnother secular bull market in gold underway. Long basing phase is over, lots of volatility back and forth.. 7 minute long video with long-term gold chart view.https://blog.smartmoneytrackerpremium.com/Read More
"Advice is what we ask for when we already know the answer but wish we didn't." Erica Jong, American novelist, satirist, poet; b. 1942 "To different minds, the same world is a hell, and a heaven." Ralph Waldo Emerson, American essayist, poet, lecturer, philosopher; 1803-1882 "The task of beating the market is not difficult. It is the job of beating ourselves that proves overwhelming." Martin P...Read More
StrengthsThe best performing metal this week was palladium, up 6.48 percent, notching its best weekly advance since June. While global car sales are weak, loadings for their catalytic converters are going up with regulatory requirements. Gold traders and analysts were spilt on their outlook for the yellow metal next week after this week saw big price swings due to U.S.-Iran tensions escalati...Read More
Clive MaundIt has been a week of surprises since the last updates were posted. First, I had not expected Iran to retaliate following the murder of its top General by a US drone, but it did, despite the risks, as it was politically necessary to assuage the extreme anger of its population who demanded revenge. The next surprise was that Israel and the US did not use this retaliation as an excuse t...Read More
Seaborne manganese ore prices in China moved in opposing directions for different grades in the week ending Friday January 10, with low-grade ore showing further minor rises, while high-grade ore softened amid falls in portside prices.Fastmarkets' manganese ore index 37% Mn, cif Tianjin, climbed week on week to $4.18 per dry metric tonne unit (dmtu) on January 10, up by 5 cents per dmtu.The corres...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ended January 10. US Key drivers Weak spot demand in the United States continued to weigh on the grade 5-5-3 delivered price, which fell to $0.91-94 per lb. The monthly spot price had fleetingly stabilized in November at $0.96-1.02 per lb. Buyers remain well supplied with annual contract material pric...Read More
Here are five Fastmarkets MB stories you might have missed on Monday January 13 that are worth another look.Sentiment in the global long steel market has become more positive "especially after the announcement that a trade deal between the [United States] and China will be signed," the International Rebar Producers & Exporters Association (Irepas) said last week.International auditing and advisory...Read More
A string of long-term deals for cobalt hydroxide show that bullish forecasts for cobalt consumption from the electric vehicle (EV) sector are coming into play. Glencore will supply battery manufacturer SK Innovation with up to 30,000 tonnes of cobalt contained in hydroxide over six years, it said last week - a deal worth about $1 billion in today's market. And other deals also point...Read More
If you are a producer or consumer, or are active in the physical markets, then you had better be aware of a new set of regulations that will make it all the more important for you to choose the right logistics partner from next year.The International Maritime Organization (IMO) has ruled that from January 1, 2020, the marine sector will have to reduce sulfur emissions by more than 80% by switching...Read More
Most major aluminium producers agree that tackling the carbon intensity of the smelting process is one of the biggest challenges facing their industry. What they cannot agree on is how to deal with the situation, as a lively panel hosted by Fastmarkets during LME Week at the end of October showed. Aluminium smelting is an energy-intensive business and the market is starting to differentiate b...Read More