Here are five Fastmarkets stories you might have missed on Tuesday February 18 that are worth another look.Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil fell during the week to February 18 amid a slowdown in domestic trading while downstream sectors gradually return to work.Increasing aluminium inventories pressured China's aluminium price amid, generally, uninterrupted...Read More

Glencore will prioritize the production ramp-up of its Katanga mining asset in the Democratic Republic of Congo (DRC) in 2020, the trader-miner said on Tuesday February 18 during its full-year results announcement.The company's production guidance at Katanga is 270,000 tonnes of copper and 29,000 tonnes of cobalt contained in concentrates and hydroxides, and it expects the successful commissioning...Read More

Mexican ferrous scrap prices were little changed in the week ended Friday February 14, with most buyers refraining from making any changes after several price cuts in the preceding two weeks.In the country's northern Monterrey region, prices remained stable for four grades, while the price of HMS 1-grade scrap decreased. In the central Baj?-o region, three grades had lower prices, with one remaini...Read More

Turkish steel producers made more bookings of deep-sea scrap for March shipment, with prices strengthening further on firm demand, sources told Fastmarkets on Tuesday February 18.A steel mill in the Iskenderun region booked a US cargo comprising 20,000 tonnes of HMS 1&2 (90:10) at $282.50 per tonne, 5,000 tonnes of shredded at $285 per tonne and 5,000 tonnes of bonus at $290 per tonne cfr.This com...Read More

Peking Founder, owner of Chinese trader Founder Commodities, has been ordered to restructure just shortly before its bond due date this coming Friday, February 21.The conglomerate said on Tuesday February 18 that one of its creditors, Bank of Beijing, had filed a request to the Beijing No1 Intermediate People's Court for an asset restructure.The bank cited in its application the inability of Pekin...Read More

Broader markets, mainly equity indices, have been fairly complacent about the potential negative economic impacts of the coronavirus (2019-nCov). But this morning, Tuesday February 18, that may be changing with Asian equities down across the board as more companies and countries get jittery.Apple warns it will miss its sales target, South Korea warns it is in an emergency situation and calls for "...Read More

Glencore will prioritize the production ramp-up of its Katanga mining asset in the Democratic Republic of Congo (DRC) in 2020, the trader-miner said on Tuesday February 18 during its full-year results announcement.The company's production guidance at Katanga is 270,000 tonnes of copper and 29,000 tonnes of cobalt contained in concentrates and hydroxides, and it expects the successful commissioning...Read More

Today is Tuesday, February 18, 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 $1,601.70. It's up 1.30% from yesterday and up 2...Read More

Today is Tuesday, February 18, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of EQT Corporation (NYSE: EQT), HighPoint Resources Corporation (NYSE: HPR), and Clean Energy Fuels Corporation (NASDAQ: CLNE).EQT Corporation (NYSE: EQT)EQT Corporation (NYSE: EQT) is a $1.434 billion company today with a one-year return of -70.93%. Let's look at its price-to-e...Read More

Joseph Alois Schumpeter was an Austrian political economist from the first half of last century. He managed to escape WWII and get U.S. citizenship in 1939. As a Harvard professor, he preached against Marxism and FDR's New Deal and sponsored economists and others to get them out of Nazi Germany.His most famous book called Capitalism, Socialism, and Democracy sits on my bookshelf, well thumbed, its...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 Canadian Insider Index turned on the jets in impressive fashion and cut through the 1200 resistance level like butter. The Index finished the week up 19.71 points or 1.65% to close at 1212.32.MACD rose 3.54 points to 2.79. RSI rocketed up 12 points or 22% to 65.25.Suppo...Read More

Here are five Fastmarkets stories you might have missed on Tuesday February 18 that are worth another look.Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil fell during the week to February 18 amid a slowdown in domestic trading while downstream sectors gradually return to work.Increasing aluminium inventories pressured China's aluminium price amid, generally, uninterrupted...Read More

Flat steel sales from Brazilian distributors increased by 5.3% year on year in January, with the country's steel consumption rising amid price increases, according to national flat steel distributors' association Inda. Shipments amounted to 279,400 tonnes last month, against 265,300 tonnes a year before, Inda said on Tuesday February 18."The market is improving slowly," Inda president Carlos Loure...Read More

Uncertainty in the global flat steel market caused by falling prices for exports from China has been affecting demand and putting pressure on the market for exports from the Commonwealth of Independent States (CIS), sources told Fastmarkets on Monday February 17.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $460-480 per tonne on Monday, down from $...Read More

Special bar quality (SBQ) steel spot prices in the United States have been weighed down by declining ferrous scrap costs, with demand across most major end markets flat to slightly weak, market participants said.On the hot-rolled side of the market, Fastmarkets' monthly price assessment for steel bar hot-rolled special bar quality (SBQ) 1-inch round 1000 series (carbon), fob mill US was at $34.50...Read More

Ukraine's largest producer of long steel, ArcelorMittal Kryvyi Rih (AMKR), is currently bringing its new continuous casting machine No3 (CCM No3) to designed capacity, the company announced on Monday February 17."We already produce 150mm billet at CCM No3 and will start production of 130mm billet soon, " a company source told Fastmarkets.The equipment addition is part of a company project to repla...Read More

By: Gary SavageThe bullion banks are in jeopardy of being short-squeezed out of their huge short-position, like last year when they lost billions..Gary Savagehttps://blog.smartmoneytrackerpremium.com/Disclaimer:Investing in the financial markets can involve considerable risk. Past performance is not necessarily an indication of future performance. The information included in The Smart Money Trac...Read More

Prices for steel rebar and billet in the United Arab Emirates were stable in the week to Tuesday February 18, with demand remaining weak because buyers wanted to wait and see the direction of prices, market sources said.Scrap prices have been increasing recently following steep falls since mid-January, so some buyers believe billet and rebar prices may also recover, if demand picks up.Fastmarkets'...Read More

"The impacts of the war and the pandemic are hard to disentangle in market and economy charts, but it looks like positive developments in the war...were overshadowed by the pandemic, marking the end of an equity rally..." Ray Dalio, Bridgewater Associates, speaking at the World Economic Forum, Davos, Switzerland, January 21, 2020 "Investing should be more like watching paint dry or watching gra...Read More

By Avi GilburtIn late October and again in November, I began preparing my subscribers for the last rally phase we experienced in the metals complex. I even penned a number of public articles outlining my expectations for the same. In fact, on November 11, I published an article entitled "Gold Is Likely Approaching A Local Bottom." As we now know, gold actually struck its bottom at the time with...Read More