Polish domestic rebar prices moved down over the past week due expectations of a decrease in the price of scrap, market sources told Fastmarkets on Friday February 14.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, ex-works Poland, fell to 2,050-2,150 zloty ($524-549) per tonne on February 14, down by 50-100 zloty...Read More
Indian domestic secondary billet prices have fallen by 800 rupees ($11) per tonne week on week on reduced demand from long product makers and oversupply of semi-finished products in the market, sources told Fastmarkets on Friday February 14.Fastmarkets assessed steel billet domestic, ex-works India, at 28,600-28,800 rupees per tonne on Friday, down 800 rupees from 29,400-29,600 rupees per tonne ex...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transaction: rebarRebar East China, domestic, grade...Read More
The market for pig iron exports from the Commonwealth of Independent States (CIS) was stronger than buyers expected during the week ended Thursday February 13 despite low availability, sources have told Fastmarkets."Demand is higher than supply now, so we do not intend to reduce the price any further," one exporter said.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 356,53548,56159,263181,629519,420597,427627,244 Change from Prior Reporting Period 626-7,542-1,9494,84310,9473,5201,456 Traders 23268745453311174 Small Speculators LongShortOpen Interest 60,59730,780658,024 -681,9963,452 non reportable positionsChange fro...Read More
Rob Kirby What has happened to our capital markets? The reactions to the onset of a global pandemic in our capital markets are, for the most part, fundamentally counter- intuitive and, in my opinion, will not continue. Incapacitating the second largest and fastest growing economy in the world is no reason to "buy stocks" into record territory or conduct fire sales of precious metals. If yo...Read More
By: Ira EpsteinDaily gold chart now back in control of the gold market after a new higher-high. Resistance around $1,592 Bollinger upper band.Read More
Pig iron buyers in the United States have resumed purchasing material but at lower prices amid the weak scrap market, sources told Fastmarkets on Friday February 14.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $334-336 per tonne on Friday, down from $340-345 per tonne cfr a week before.One booking for around 50,000 tonnes of CIS-origin pig iron...Read More
The inter-merchant spot market for light iron scrap in the UK was steady in the week ended Friday February 7, stabilizing after falling more than 11% in the prior week, with higher export prices from Europe this week supporting domestic British prices, sources told Fastmarkets.Fastmarkets' weekly price assessment of steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?70-9...Read More
Positive sentiment in the CIS export billet market supported by the recent rebound in import scrap prices in Turkey has failed to spark much trading activity in the week to Friday February 14, sources told Fastmarkets.Most customers preferred to adopt a wait-and-see approach without placing bids, they said."Long steel products are not selling well, therefore customers are cautious about purchasing...Read More
Largo Resources' Q4/19 results and 2020 guidance are reviewed in a CIBC research report. In a Feb. 6 research note, CIBC analyst Bryce Adams purported that Largo Resources Ltd.'s (LGO:TSX) record Q4/19 production and 2020 operational guidance portend a positive outlook for the company after its contract with Glencore will expire in May, a near-term catalyst. "The [Glencore] agreement, coupled wit...Read More
The outcomes at Integra Resources' gold-silver project are detailed in an Echelon Wealth Partners report. Ryan Walker, an analyst with Echelon Wealth Partners, reported in a Feb. 6 research note that recent drill results from Integra Resources Corp.'s (ITR:TSX.V; IRRZF:OTCQB) DeLamar project in Idaho expanded one zone and delineated a new anomaly. "We contend that the latest results tend to suppo...Read More
Contact Gold is now planning a drill program for this year. In a news release, Contact Gold Corp. (C:TSX.V) announced the final pending results, for two holes, from its 2019 drill program at its Green Springs gold project in Nevada.Hole GS19-09, drilled in the Echo zone, extended oxide gold mineralization 25 meters (25m) to the south of the previously reported intercept. Highlights were 3.53 gram...Read More
Great Bear Resources interprets the gold mineralization along 4 kilometers of the fault's strike length as continuous. In a news release, Great Bear Resources Ltd. (GBR:TSX.V; GTBDF:OTCQX) announced recent exploration developments at its Dixie Project in Ontario's Red Lake district. The $21 million exploration program is fully funded.For one, the Canadian explorer completed a 4.2 kilometer (4.2 k...Read More
China's domestic rebar prices were flat on Friday February 14, but export prices continued to drop on participants' bearish sentiment. Eastern China (Shanghai): 3,370-3,400 yuan ($483-487) per tonne, unchanged Northern China (Beijing): 3,420-3,450 yuan per tonne, unchanged The delayed restart to most construction projects due to concerns over the spread of the novel coronavirus (2019-nCoV) is weig...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday February 14.Europe The high-carbon ferro-chome market rose for the fourth consecutive week with some producers reporting a steady recovery in the volume of inquiries they received and prices achieved. Some consumers reported that their use of the spot market was limited, however, because weak demand...Read More
The price of stainless steel flat products in the European domestic market decreased this week because of lower nickel costs and poor demand, sources told Fastmarkets on Friday February 14. Fastmarkets' weekly price assessment of stainless steel cold-rolled sheet, 2mm, grade 304 transaction domestic, delivered North Europe was ?,?2,000-2,050 ($2,172-2,226) per tonne on Friday, down by ?,?50 per to...Read More
An additional 121 more coronavirus deaths were reported todayThe Dow limped into the long weekend with a loss today, after the Chinese National Health Commission reported an additional 121 more COVID-19-related deaths nationwide. The blue-chip index -- although it pared triple-digit losses in late-afternoon trading -- was also pressured by a slew of lackluster economic data, including retail sales...Read More
Apollo Global Management stock has pulled back from its January peakEquity firm Apollo Global Management Inc (NYSE:APO) has struggled to regain momentum after hitting a record high of $52.67 on Jan. 30. Now down 4% year-to-date, APO has pulled back to the 80-day moving average. However, this recent drop may be short-lived, as data from Schaeffer's Senior Quantitative Analyst Rocky White suggests...Read More
The coronavirus outbreak remains a major catalyst on U.S. equitiesIt was an up-and-down week on Wall Street, with momentum largely dictated by the coronavirus outbreak. The Dow rose to record highs when it looked like there was an outbreakslowdown, but pulled back when more cases were reported just one day later. The S&P 500 and Nasdaq logged four-day win streaks earlier in the week and turned in...Read More