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
Silicon and bulk alloys producer Ferroglobe has appointed Marco Levi as its chief executive officer, replacing Pedro Larrea, who leaves the company to seek new professional challenges, according to a company statement on Monday January 13. The new chief executive will be in charge of designing a new strategy that will lead the ferro-alloys maker, which has recently moved its headquarters to Madrid...Read More
* China Dec unwrought copper imports at 527,000 T - customs * Annual copper imports down 6% at 4.98 mln T - customs * Copper concs imports hit annual record high of 21.99 mln T * Dec aluminium exports highest since July; annual shipmentsdrop (Adds graphics)By Tom DalyBEIJING, Jan 14 (Reuters) - China's unwrought copper importsrose 9.1% in December from the previous month to their highestsince Marc...Read More
Bob Moriarty of 321gold reports on the latest drill results from this company's Montana project. The world is at an interesting junction. Awash in debt caused by promises that governments cannot possibly fulfill, civil disorder takes place in at least fourteen different countries. The U.S. political system has tied itself into partisan knots in an effort to replay the 2016 election with a Preside...Read More
The report updates and the company being a takeout target are discussed in an iA Securities report. In a Jan. 7 research note, iA Securities analyst George Topping reported that Rubicon Minerals Corp. (RMX:TSX; RBYCF:OTCMKTS) updated the mineral resource at its Phoenix gold project in Red Lake, Ontario.Topping highlighted that the updated resource now contains 811,000 ounces (811 Koz) in the Meas...Read More
Chinese auto output and sales continued to drop in 2019 despite recoveries in the second half of the year, the China Association of Automobile Manufacturers (CAAM) said.The country produced 25.721 million units of vehicles in 2019, down 7.5% from a year earlier, while sales fell 8.2% to 25.769 million units, CAAM reported on its official website on Monday January 13.China remains the world's large...Read More
The China Iron & Steel Association (Cisa) expects Chinese steel consumption to rise by 2% to 890 million tonnes in 2020 based on anticipated growth in the construction, home appliance and railway sectors, according to a report it released on Tuesday January 11.Cisa's forecast is more optimistic than that of the China Metallurgical Industry Planning...Read More
All three indexes scored record highs earlier todayThe Dow finished marginally higher today and hit fresh record highs, as Wall Street weighed bank earnings with the latest U.S.-China trade headlines. The "phase one" trade deal to be signed tomorrow reportedly involves China buying over $200 billion worth of U.S. goods in the next two years, and ensures the U.S. won't implement any new tariffs on...Read More
ETSY is also drifting into overbought territorySmall business retail platform Etsy Inc (NASDAQ:ETSY) has started off 2020 red-hot, already posting a nearly 10% gain. It's more of the same today, with ETSY up 1% to trade at $48.97, on track for its highest close since a late-October. However, this rally has sent the stock running head-first into a historically bearish trendline. More specificall...Read More
There remains lingering skepticism around the Dow stockSeveral Dow stocks have been featured in this space in recent months. The latest blue chip to catch our attention is Walmart Inc (NYSE:WMT), with the retail stock finishing last year right in the middle of the pack, gaining just 27.6% in 2019 -- tame compared to, say, Apple's (AAPL) 86.2% return. Nevertheless, WMT's climb higher last year was...Read More
China's finished steel exports in December tumbled on a year-on-year basis despite being higher compared with a month earlier.For the whole of 2019, exports are also lower in comparison with 2018, according to...Read More
WM has been on a long-term uptrendTrash specialist Waste Management, Inc. (NYSE:WM) has been a long-term outperformer on the charts, easily surpassing the performance of the broader market in the past two years, and the shares are in the midst of another strong uptrend at the moment thanks to support from the 12-month moving average. As such, it looks like a prime time to get behind WM for its nex...Read More
The China Iron & Steel Association (Cisa) expects Chinese steel consumption to rise by 2% to 890 million tonnes in 2020 based on anticipated growth in the construction, home appliance and railway sectors, according to a report it released on Tuesday January 11.Cisa's forecast is more optimistic than that of the China Metallurgical Industry Planning...Read More
BLK shares are technically overbought before earnings Investment management concern BlackRock, Inc. (NYSE:BLK) hit a fresh 52-week high of $525 earlier, setting up the shares for an eighth straight weekly win. The stock was most recently seen at $516.71, as traders prepare for the company's earnings release, scheduled for before the open tomorrow, Jan. 15. BLK's 14-day Relative Strength Index (RSI...Read More
Market forecasterMartin Zweig famously warned investors against underestimating the power of theFederal Reserve Bank to control markets. He coined the phrase “Don’t fight theFed” back in the 80’s. Preciousmetals investors are wondering if this is still goodadvice.On one hand, it ispretty hard to argue with that bit of wisdom.The Fed Zweig wasreferencing had begun taking a m...Read More
Bank earnings continue to take the spotlightThe Dow Jones Industrial Average (DJI) has explored both sides of breakeven, before eventually climbing higher midday, as Wall Street's attention remains glued to a spate of earnings reports out of the finance sector, including JPMorgan Chase (JPM) and Wells Fargo (WFC). Meanwhile, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) have erased thi...Read More
Ukrainian steel billet producer Dneprovskiy Dzerzhinsky Metallurgical Plant (DMKD) has restarted its 900,000-tonnes-per-year No12 blast furnace at its steelmaking facility in the port city of Kamianske on the Dneiper river.Trial pig iron production was started at the end of 2019 and normal operations resumed on Saturday January 4, the company said on January 10. Currently, the daily...Read More
Call buying has been hot on ZUMZZumiez Inc. (NASDAQ:ZUMZ) is one winner today on Wall Street, up 3.3% at $34.14, thanks to the company's holiday sales update. The strong numbers prompted the retailer to increase its guidance for the quarter, likely increasing the chances it announces another earnings win when it reports in March. Specifically, ZUMZ shares have gained more than 11% after each of th...Read More