Today is Tuesday, January 14, 2020, and this is your daily gold market update. Let's look at the latest price of gold, value of the dollar, gold/silver ratio, Commitment of Traders data, and exchange-traded fund (ETF) prices to get a sense of how the yellow metal is faring today.Gold PriceThe price of one troy ounce of gold in U.S. dollars today is $1,543.45. It's down -0.30% from yesterday and up...Read More
Today is Tuesday, January 14, 2020, and this is your daily oil stocks roundup. Today we're looking at the valuations of Texas Pacific Land Trust (NYSE: TPL), Chevron Corporation (NYSE: CVX), and Encana Corporation (NYSE: ECA).Texas Pacific Land Trust (NYSE: TPL)Texas Pacific Land Trust (NYSE: TPL) is a $6.217 billion company today with a one-year return of 30%. Let's look at its price-to-earnings...Read More
It was 72 degrees on Sunday, and the wife and I decided to go check out the new Monet exhibit at the Smithsonian in Washington, D.C. This show turned out to be four or five paintings with an art professor talking about light on bridges. In fact, three of the paintings were the same bridge over the Thames in London. While I was grateful for the knowledge, it was disappointing. I drove in D.C. t...Read More
An effort by domestic steelmakers to increase flat-rolled steel prices since late October 2019 has revived the hot-rolled index from multi-year lows, but it is unlikely to help mills to regain the high margins they achieved in 2018, market participants and industry experts told Fastmarkets.Flat-rolled steel mills in the United States have announced five price increases on sheet products in the las...Read More
Domestic prices for hot-rolled coil in Northern Europe remained largely unchanged on Tuesday January 14, but sentiment remains positive, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index domestic, ex-works Northern Europe, was at ?,?442.70 ($492.63) per tonne on Monday January 14, down by 23 cents from ?,?442.93 per tonne on January 13.The index...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK CIN built onto its impressive recent run, tacking on 10.75 points or 0.9% to finish the week at 1193.MACD rose 75 points to -0.58. RSI rose 6.29 points or 10.1% to 69.43.Support moves up to 1172 (upper Bollinger) and 1167.80 (50-day moving average). Resistance rises to...Read More
Fastmarkets proposes to discontinue the pricing of zinc ingot premiums on a cif India basis.Currently, Fastmarkets prices the following premiums:Zinc SHG min 99.995% ingot premium, cif dp India, $/tonne Zinc SHG min 99.995% ingot premium, cif dup India, $/tonneThe expansion of production capacity by Hindustan Zinc means there is currently no spot market for imported zinc in Ind...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday January 14 that are worth another look.ArcelorMittal Kryvyi Rih, the major long steel producer in Ukraine, has called on the country's government to review its decision to impose an import tariff on rebar and wire rod steel imports from Belarus, referring to evidence of dumping.Nizi International has closed its base metals tradi...Read More
ArcelorMittal Kryvyi Rih, the major long steel producer in Ukraine, has called on the country's government to review its decision to impose an import tariff on rebar and wire rod steel imports from Belarus, referring to evidence of dumping.On December 6, 2019, the Interagency Commission on International Trade announced the results of an anti-dumping investigation into steel imports from Belarus an...Read More
Mexico's largest integrated steelmaker, Altos Hornos de M?(C)xico (Ahmsa), has shut down its blast furnace No6 in the country's northern city of Monclova due to the current market conditions, it has said."The company decided to adjust production to variations in demand, which has been weak since last year, and to pursue greater flexibility to respond to the expected positive changes in the market,...Read More
Turkish steel producers continued to hold back from the deep-sea scrap markets on the second day of the working week because of the soft rebar market and firm scrap prices, sources said on Tuesday January 14.The country's steel producers went through last week with only one deep-sea cargo bought, when a steel mill in the Marmara region booked a European cargo at an average price of $300 per tonne...Read More
Seaborne iron ore prices strengthened further on Tuesday January 14 amid continued appreciation of the yuan against the dollar and lower shipments from Australia and Brazil. 62% Fe fines, cfr Qingdao: $97.03 per tonne, up $1.10 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $96.07 per tonne, up $1.10 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $97.53 per tonne, up $1.33 per tonne. 58% F...Read More
Near the start of every year, I share our ever-popular Periodic Table of Commodity Returns, now updated to reflect the final results of 2019. To view the interactive table and download a copy of your own, click here. Commodities as a whole had a mostly positive 2019, returning 16.53 percent as measured by the S&P GSCI. This far surpasses commodities' five-year average return of about negativ...Read More
By: Ira EpsteinWill Pelosi take away the trade-deal Trump victory with an impeachment delivery to the Senate?Gold APRIL (now updated) Futures. Gold is down the first trading day of the week, 18-DMA is at $1497 area and rising. Gold peaked out at missile day. Read More
RambusHeads UP ...from Rambus Chartology."You may recall we were looking at the Japanese YEN / PM complex combo chart several months ago comparing the YEN to the PM complex. For whatever reasons how the YEN goes the PM complex tends to follow. It's not a perfect correlation but close enough to pay attention. Today the YEN gapped below an important trendline that goes all the way back to October...Read More
Ask yourself what factors what factors will affect global financial markets once the so called US-China trade deal is signed. Trade war is the biggest reason why gold prices rose from $1200 to $1600 in around twelve months. Central bank buying and other reasons have also contributed to gold price rise but the biggest catalyst has been the trade war and recession fears. I will happy if gold price...Read More
Domestic and import prices for steel rebar and billet in the United Arab Emirates have decreased over the past week, while demand was moderate, market sources said on Tuesday January 14.Market participants in the UAE believed that any price changes will depend on raw materials costs, and that demand was unlikely to improve significantly because stock levels were sufficient for the time being.Local...Read More
Rebar prices in eastern China rebar continued to soften on Tuesday January 14 despite a pick-up in the futures market, with demand remaining persistently weak.Eastern China (Shanghai): 3,640-3,670 yuan ($528-532) per tonne, down 10 yuan per tonne Northern China (Beijing): 3,540-3,560 yuan per tonne, unchangedRebar futures posted strong gains during the day amid optimism generated by the scheduled...Read More
Export steel slab prices from the Commonwealth of Independent States (CIS) rose by $15-20 per tonne in the first half of January 2020 on steady customer interest as well as a surge in the flat steel segment.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS was at $420-425 per tonne on Monday January 13, up by $15-20 per tonne from $405 per tonne fob a week earlier - a...Read More
China's Pangang Group has paused some vanadium pentoxide (V2O5) production at one of its three blast furnaces to conduct maintenance, a source at the company confirmed to Fastmarkets. The maintenance started last month and will last for 70 days, the source said. Around 1,000 tonnes of V2O5 will be taken out of production over this period at the company's Panzhihua production base. Pangang has two...Read More