GOLD COT REPORTS WERE DELAYED (JAN. 3), DUE TO THE HOLIDAYS: Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 381,62053,695140,611202,925569,416725,156763,722 Change from Prior Reporting Period 17,310-4,96318,589-27925,81635,62039,442 Traders 23351765558312164 Small Speculators LongShortOpen Interest 61,01022,444786,1...Read More
The price of steel H-beams across Europe remained unchanged on Wednesday January 8 with a public holiday at the start of the week keeping trading activity low, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?550-570 ($614-637) per tonne on January 8, unchanged week on week.Trading remained subdued this week, with January 6...Read More
Turkish deep-sea scrap import markets remained silent on Wednesday January 8, with mills still in negotiations for cargoes to be shipped in February, sources told Fastmarkets.Mills in Turkey have been mostly quiet in the deep-sea scrap import markets since the middle of December due to year-end holidays, but resumed their purchases at the end of the last week.They booked four deep-sea cargoes on J...Read More
Seaborne iron ore index increased on Wednesday January 8, after steelmakers in China started restocking activities.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $96.22 per tonne, up $1.11 per tonne62% Fe Pilbara Blend fines, cfr Qingdao: $95.31 per tonne, up $1.11 per tonne62% Fe low-alumina fines, cfr Qingdao: $96.87 per tonne, up $1.15 per tonne58% Fe fines high-premium, cfr Qingda...Read More
The Singapore Exchange's (SGX's) 65% Fe iron ore futures experiencing a surge in interest, with 10,430 lots - or 1.043 million tonnes - of the contract being cleared by Tuesday January 7.This is already around 12.2% higher than the total volume cleared in January last year. A total of 1.99 million tonnes of the contract were traded last month, up 4.6% from December 2018 when it was launched.In the...Read More
The study suggests a low-cost mining operation at the Ontario property is possible. Generation Mining Ltd. (GENM:CSE; GENMF:OTCQB) announced in a news release the results of a preliminary economic assessment (PEA) of its 51%-owned Marathon palladium-copper project in northern Ontario."The PEA provides a compelling base case assessment for the development of the Marathon palladium mineral resource...Read More
Uncertainty was weighing on the CIS export market for steel billet in the week ended Wednesday January 8, with market participants returning from their year-end holidays and waiting for mills to announce offers of February-rolling material.At the same time, there was a degree of pessimism among many customers, because of the lack of demand for finished long steel products.Adding to the negative se...Read More
Bill Powers of Mining Stock Education sits down with Kevin Drover, CEO of Aurcana, to talk about the company's production plans for its high-grade project in Colorado.Aurcana Corporation (AUN:TSX.V; AUNFF:OTCQX) has 100% ownership of the world's highest-grade silver mine (P&P): the Revenue-Virginius mine in Ouray, Colorado, USA. This fully permitted mine will also be one of the lowest-cost silver...Read More
China's domestic rebar prices did not budge despite further gains in the futures market on Wednesday January 8. Eastern China (Shanghai): 3,680-3,710 yuan ($529-534) per tonne, unchanged Northern China (Beijing): 3,540-3,570 yuan per tonne, unchangedThe strength in the futures market failed to stimulate buying interest and spot prices during the day. Buyers kept their procurement rates low on expe...Read More
Escalating tensions between the United States and Iran have not affected appetite in Southeast Asia for Iranian steel products, sources told Fastmarkets. Iran fired multiple missiles on at least two Iraqi military bases housing American forces earlier today, Wednesday January 8, in response to the killing of top Iranian military general Qasem Soleimani via a US drone attack at Iraq's Baghdad Inter...Read More
It's been a wild ride for RAD stock in recent weeksRite Aid Corporation (NYSE:RAD) has had a volatile run on the charts, per the stock's 30-day historical volatility of 190.3% -- an annual high. More specifically, the shares surged off their December lows near $7.50 to top out at a 13-month high of $23.88 on Dec. 27, before crashing all the way down to $12.26 in yesterday's trading. RAD's January...Read More
NRG stock is currently mired in a five-day losing streakWhile most energy stocks are gaining with oil prices and Middle East tensions, NRG Energy Inc (NYSE:NRG) has been sitting out of the rally, already down 8% in 2020. However, this four-day losing streak could be short-lived, based on data from Schaeffer's Senior Quantitative Analyst Rocky White.More specifically, NRG just pulled back to its 1...Read More
The has Dow bounced back after this morning dropThe Dow Jones Industrial Average (DJI) was initially dragged lower this morning by Boeing (BA) -- down on news of another fatal crash -- and Walgreens Boots Alliance (WBA), which is selling off after earnings. The Dow is now trading higher with the S&P 500 Index (SPX) and Nasdaq Composite (IXIC), with the latter two hitting record highs, as investor...Read More
BA has sunk 3% over the past 12 monthsIt's another nail in the coffin for Boeing Co (NYSE:BA) this morning -- the equity down 1.3% at $333 -- after reports surfaced that a Boeing 737-800 operated by Ukraine International Airlines crashed in Tehran this morning, leaving no survivors. Downing just minutes after take-off, speculations of engine failure are circling as the potential catalyst. Nine cre...Read More
RBC lifted its price target to $285 from $267Biopharmaceutical concern Biogen Inc (NASDAQ:BIIB) is slightly lower today, despite joining Behind the Seizure, along with a number of other companies, which works to provide faster diagnosis to children under eight with epilepsy. In addition to this, RBC lifted its price target to $285 from $267, which is still a slight discount to last night's close....Read More
BYND gained 12.5% yesterday after Impossible Foods and McDonald's stopped supply talksThe shares of Beyond Meat Inc (NASDAQ:BYND) are up 1% to trade at $84.76 this morning, after McDonald's (MCD) announced it was expanding the test of the former's plant-based burger in Canada. More specifically, the golden arches will now offer BYND's vegan burger in 52 outlets across southwest Ontario, up from 2...Read More
Hollow steel sections prices in Europe were unchanged over the past week, with trading activity remaining subdued after the year-end public holidays across Europe, market sources told Fastmarkets on Wednesday January 8.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?590-600 ($659-670) per tonne on Wednesday, unchanged week on week.Tradi...Read More
The strike against a U.S. airbase was not as bad as originally feared U.S. stock futures are mixed this morning, as investors attempt to digest a slew of global and domestic headlines. Last night's report that a U.S. airbase came under fire in western Iraq sent overnight trading into a tailspin. Investor fears eased, however, as news surfaced that the attacks did not cause any casualties and no oi...Read More
Data shows 2020 could be bullish for stocks2019 was a historic year in which the S&P 500 Index (SPX) gained nearly 30% with exceptional daily consistency (more on that below). The year's 28.9% return ranks second out of the last 20 years with 2013 (up 29.6%) being the only year that was more bullish. This week I'll look at some of these 2019 stats and see if stocks tend to revert to the mean follo...Read More
Turkish steel pipe export prices have increased slightly over the past month amid rising raw material costs, market sources said on Wednesday January 8.Fastmarkets' monthly price assessment for steel structural pipe export S235JR grade EN10219 2mm wall thickness, fob main port Turkey, was at $550-560 per tonne on Wednesday, up from $540-545 per tonne on December 11.Pipe mills in Turkey have raised...Read More