Domestic auto bundle scrap prices in the Turkish market have weakened further, although slightly, over the past week in response to the fall in imported scrap values, sources said on Monday February 3.Turkish deep-sea scrap import prices have declined by around $10 per tonne, after a deal heard on January 29 for a United States cargo containing 30,000 tonnes of HMS 1&2 (90:10) at $275 per tonne cf...Read More
View the Fastmarkets holiday pricing schedule for 2020 and 2021. Click on the image below to view the Fastmarkets holiday pricing schedule for base metals, minors, ores & alloys and industrial minerals, and ferrous prices for 2020 and 2021.The 2020 calendar has been updated to include the extended Lunar New Year holiday in China, which affected certain prices. See the following pricing notices for...Read More
Brazilian slab export prices increased in the week ended Friday January 31 amid recent deals, but there was growing uncertainty in the market for February bookings.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil rose to $460-475 per tonne on January 31 from $430-450 per tonne a week earlier.Deals for March-shipment Brazilian slab to the United States occu...Read More
Recent bookings of CIS-origin billet by customers in North Africa and by traders have helped to slow the downward trend seen in pricing in the week ended January 31.Nevertheless, market sentiment remained negative amid falling international prices for ferrous scrap as well as low demand for finished long steel products.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $393 per...Read More
StrengthsThe best performing metal this week was gold, up 1.12 percent. The majority of gold traders and analysts were bullish in the weekly Bloomberg survey as concerns mount regarding the coronavirus spreading out of China. The yellow metal had a second monthly gain as investors flock to safe havens amid the global health emergency. China's gold imports rose in December to the highest level...Read More
"When I have to depend upon hope in a trade, I get out of it." Jesse Livermore, American stock trader, speculator, How to Trade in Stocks; 1877-1940 "The most important lesson from investing is humility." Sir John Templeton, American born British investor, banker, fund manager, philanthropist; 1912-2008 "Any fool can buy. It is the wise man who knows how to sell." Albert W. Thomas, trader, inv...Read More
View the Fastmarkets holiday pricing schedule for 2020 and 2021. Click on the image below to view the Fastmarkets holiday pricing schedule for base metals, minors, ores & alloys and industrial minerals, and ferrous prices for 2020 and 2021.The 2020 calendar has been updated to include the extended Lunar New Year holiday in China, which affected certain prices. See the following pricing notices for...Read More
Coronavirus anxiety has replaced trade war anxiety as the one-size-fits-all explanation for the stock-market's bad days. Wall Street initially thumbed its nose at the virus threat, staging a strong rally early last week even as the death toll mounted in China. But when a few cases turned up in the U.S. and airlines started canceling flights in and out of China, investors took notice. Their a...Read More
Massive Chinese central bank intervention has resulted in gold trading flat, silver falling and copper rising. Chinese evening session will be closed in metals and energy futures. 1. China's central bank said it will inject 1.2 trillion yuan ($173.8 billion) worth of liquidity into the markets via reverse repo operations today. 2. China's central bank unexpectedly lowered the interes...Read More
The high-carbon ferro-chrome price in Europe rose at the top of the range on Friday January 31 following a bigger increase the week before. Fastmarkets' ferro-chrome high carbon 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe price widened upward by 2 cents to $0.82-0.92 per lb on Friday. The market had risen by 5 cents in the previous week in response to increased demand from c...Read More
Dr. Francis Boyle discusses the coronavirus outbreak in Wuhan, China and the Biosafety Level 4 laboratory (BSL-4) from which he believes the infectious disease escaped. He believes the virus is potentially lethal and an offensive biological warfare weapon or dual-use biowarfare weapons agent genetically modified with gain of function properties, which is why the Chinese government originally tried...Read More
Bob Moriarty of 321gold discusses the path he would like the company to take as it plans to bring a historical gold and silver mine into production. Prime Mining Corp. (PRYM:TSX.V) has picked up an existing gold mine in Sinaloa, Mexico with a production history going to the 18th Century. Guadalupe de los Reyes is estimated to have produced 500,000 to 600,000 ounces of gold and 40 million ounces o...Read More
Sector expert Michael Ballanger charts last month's market moves. Back in the 1980s, I had a boss that was right out of Monty Python. A Canadian by birth, he was the son of a very wealthy English nobleman who spent a number of years in Brazil as CEO of Brazilian Traction, where he was raised by servants and nannies and attended private boarding school at Upper Canada College in Toronto."James" wa...Read More
Alphabet is due to report later tonight U.S. stocks wrangled in a notable win for the first trading day in February, quickly writing off Friday's drop. A solid 3.6% lift out of Nike (NKE) was the biggest driver for the Dow today, guiding the index 143 points higher by session end. Tesla (TSLA) was also big winner, soaring 20%. Although earnings activity was light today, the highly anticipated Alph...Read More
ATUS just pulled back to a historically bullish trendline It's been a tough run for Altice USA Inc (NYSE:ATUS) stock these past couple months, with a post-earnings bear gap knocking the stock off its early November highs, and mounting pressure at the $29.50 region keeping the equity from closing said bear gap. More recently, however, ATUS has found its footing atop the $26.50 level, and is now eye...Read More
Maxar has been chosen to build a geostationary communications satellite for Intelsat News that space technology specialist Maxar Technologies Inc (NYSE:MAXR) will be manufacturing Intelsat 40E, a geostationary communications satellite for Intelsat (I). The satellite will be integrated into NASA's pollution monitoring payload, Tempo, and will help detect pollution incidents in North America early o...Read More
GOOGL has surged 31% over the past 12 monthsFAANG stock Alphabet Inc (NASDAQ:GOOGL) is moving 2.8% higher today, last seen at $1,472.53, as Wall Street gears up for the company's highly anticipated earnings report, due out after the close today. Below we will take a look at how GOOGL has been faring on the charts, and what the options market is pricing in for post-earnings moves.Long-term, Alph...Read More
Nike is giving the Dow an extra push midday Stocks are continuing their push higher this afternoon, with the Dow Jones Industrial Average (DJI) adding nearly 300 points by midday thanks to a continued lift from Nike (NKE), and the S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) sporting notable gains of their own. This, of course, follows Friday's massive drop, which was exacerbated by c...Read More
Visa stock has surged almost 50% year-over-yearCredit card name Visa Inc (NYSE:V) is up 1.1% at $201.25 this morning, rising on the heels of two bull notes. Specifically, Guggenheim and Keybanc both lifted their price targets to $222 and $215, respectively. V has had an outstanding year on the charts, surging more than 44% over the past 12 months alone. Emerging as support late last year was t...Read More
A handful of travel stocks move lower as virus death toll soars to 361U.S. stock futures are pointed toward a higher open, attempting to patch up wounds left from Friday's steep losses. Coronavirus headwinds continue to stir up concerns however, with the death toll now at an estimated 361 on Sunday, expanding worries surrounding the long-term impact on travel and trade. Chinese markets suffered th...Read More