Turkish long steel export prices have gone down over the past week, in line with falling imported scrap values and sluggish demand for the material, sources said on Thursday February 6.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $410-415 per tonne on Thursday, down from the $425-430 per tonne of last week.Following the latest downturn i...Read More
Vale plans to invest up to $100 million to build an industrial plant for dry magnetic concentration of low-grade iron ore, as it has been trying to reduce the use of tailings dams, the Brazil-based miner said on Thursday February 6.The plant will be located in Brazil's southeastern Minas Gerais state; it will have capacity to process 1.5 million tonnes of iron ore per year and will use techno...Read More
Expectations of robust steel mill restocking have been tempered by demand fears that have knocked iron ore prices by over 10% since before the holiday, but big questions remain about ex-China supply factors such as risks to Brazilian production.Supply and stocks The wider iron ore stock situation is key here: Concerns about seaborne supply resume. Heavy rainfall and mining issues a...Read More
Turkish steel mills have started to show more interest in deep-sea scrap cargoes following the latest drop in prices, sources said on Thursday February 6.A steel mill in the Iskenderun region booked a cargo from the United States, comprising 21,000 tonnes of HMS 1&2 (80:20) at $260 per tonne, 3,000 tonnes of shredded at $265 per tonne and 6,000 tonnes of bonus at $270 per tonne cfr. The previous U...Read More
By: Chris MarcheseChief Mining Analyst at GoldSeek & SilverSeekTicker: FSM (NYSE), FVI (TSX)Shares Outstanding: 160.2m (Basic), 164.5m (Fully Diluted)52 Week High-Low: $4.59-$2.39(2/05/2020) Fortuna Silver, one of the stalwarts amongst primary silver producers is now in the transition phase from deriving roughly and equal amount of revenue...Read More
By: Gary SavageBull market patterns repeat themselves. Giving up when frustrated, giving up right before the up moves..https://blog.smartmoneytrackerpremium.com/Read More
By: Ira EpsteinGold bouncing with a stock market, literally on fire! So where are we in these metals? Read More
Central banks believe that by injecting additional liquidity everything will be fine. Interest rate cut is the buzz word this year. The purchasing power of your national currency will rapidly fall on every massive liquidity injection. Use sharp dips to invest in gold for the long term. Corona virus is spreading with passing of each day. Numbers of deaths are rising each day in China. Numbers of...Read More
Fastmarkets MB has corrected its weekly price assessment for steel billet imported into Turkey, which was published incorrectly on Thursday February 6 due to a reporter error.Fastmarkets' weekly price assessment for MB-STE-0116 steel billet, import, cfr main port Turkey, was originally published at $375-385 per tonne. This has now been corrected to $390-400 per tonne.Fastmarkets MB's price book an...Read More
Turkish steel billet prices have fallen sharply in all markets over the past week because of the recent downturn in ferrous scrap import values, sources said on Thursday February 6.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $259.76 per tonne on Thursday, down from $272.52 per tonne a week before.Billet suppliers in the Commonwealth of Independent Stat...Read More
Prices for steel billet imported into Egypt decreased again in the week ended Thursday February 6 amid weak demand, sources have told Fastmarkets.But rebar prices remained unchanged despite the decreasing billet prices, because domestic rebar prices have already fallen by E ?350-850 ($22-54) per tonne since early...Read More
Expectations of robust steel mill restocking have been tempered by demand fears that have knocked iron ore prices by over 10% since before the holiday, but big questions remain about ex-China supply factors such as risks to Brazilian production.Supply and stocks The wider iron ore stock situation is key here: Concerns about seaborne supply resume. Heavy rainfall and mining issues a...Read More
Oil and gold also marked a day of wins Despite an afternoon lull, the Dow closed at a record high today. The blue-chip index also touched a new all-time high of 29,408.05 earlier in the day, boosted by a nearly 3% surge in Boeing (BA) shares. Not to be outdone, the S&P 500 and Nasdaq also both closed at record highs, while all three benchmarks picked up their fourth straight win.Bolstering marke...Read More
Roku and Lyft will be in the earnings spotlight Earnings season isn't over yet, with a whole slew of companies gearing up for their quarterly confessionals next week. Ride share concern Lyft (LYFT) will be in the earnings spotlight, joined by streaming name Roku (ROKU), along with Alibaba (BABA), Cisco (CSCO), Nvidia (NVDA),and PepsiCo (PEP). On the economic data front, investors can expect number...Read More
Chegg will post its fourth-quarter earnings on Monday after the close With a fourth-quarter earnings report due out next week on Monday, Feb. 10, options bulls are eyeing education specialist Chegg Inc (NYSE:CHGG) today. While overall volume is still quite low, 611 calls have crossed the tape so far, two times the intraday average, and more than three times the number of puts exchanged. The Februa...Read More
The Nasdaq and S&P, meanwhile, are eyeing more fresh highsThe Dow Jones Industrial Average (DJI) has pulled back from this morning's triple-digit gains, waffling at the breakeven. Meanwhile, the Nasdaq Composite Index (IXIC) and S&P 500 Index (SPX) maintained their earlier momentum with both eyeing record closes and the latter fresh off an intraday record high of 3,346.65. Meanwhile, oil conti...Read More
SAVE has been climbing the charts in recent monthsSpirit Airlines Incorporated (NYSE:SAVE) traded as high as $47.50 this morning -- filling up on analyst bull notes and better-than-expected fourth-quarter revenue amid lower fuel costs. Three price-target hikes have surfaced, the highest coming from Deutsche Bank to $55 from $49. While the shares nabbed a six-month high out of the gate, they have...Read More
TWTR is on track for its best single-session gain since 2017The big earnings winner on Wall Street this morning is Twitter Inc (NYSE:TWTR). While the social media giant reported adjusted fourth-quarter earnings that fell short of expectations, revenue clocked in at $1.01 billion, exceeding the $996.7 million estimates. Daily active users also rose to 152 million, above the forecast 147.5 million...Read More
Lumber Liquidators announced that its president and CEO will resign Hardwood flooring specialist Lumber Liquidators Holdings Inc (NYSE:LL) is getting a boost today, following an announcement that the company's President and CEO Dennis R. Knowles stepped down, effective Feb. 5. The firm also reiterated its 2019 outlook and expects to release earnings next month on March 16. At last check, LL is up...Read More
Twitter is this morning's big earnings winnerFresh off its best outing in nine months, Dow Jones Industrial Average (DJI) futures are pointed at another impressive gain this morning. Fueling today's push is news that as part of the "phase one" trade deal, China will halve its tariffs on $75 billion worth of U.S. imports, going into effect on Feb. 14. S&P 500 Index (SPX) and Nasdaq-100 Index (N...Read More