Our research and predictive modeling systems have nailed Gold over the past 15+ months. We expected Gold to rally above $1750 before the end of this year, but the global trade wars and news cycles stalled the rally in Gold over the past 2 months. Now, it appears Gold is poised for another rally pushing much higher. But wait, if you’re thinking I’m just another one of those...Read More
NKE calls have picked up in popularity latelyThe best Dow stock this morning is Nike Inc (NYSE:NKE), after Goldman Sachs upgraded the retail icon to "buy" from "neutral," added it to its conviction list, and boosted its price target to $112. The analyst in coverage thinks Nike is on the verge of big earnings growth, and sees China revenues as a big driver going forward, especially with younger co...Read More
President Trump said U.S.-China trade talks are progressingWall Street bounced back yesterday from its early week drubbing, and Dow futures are pointed confidently higher once more today. The latest U.S.-China trade headline is powering this morning's surge, after ChineseCommerce Ministry spokesman, Gao Feng, confirmed both sides are communicating with each other. However, additional details wer...Read More
United Airlines stock is inching higher amid a series of leadership transitions A spate of leadership transitions has United Airlines Holdings Inc (NASDAQ:UAL) inching higher this morning. The firm announced that its current CEO, Oscar Munoz, would leave his spot to become Executive Chairman of the Board of Directors, while current president, Scott Kirby, will transition into the CEO role. It was...Read More
Expectations for a recovery in Brazilian steel demand this year have been postponed to 2020 since the economy did not grow as previously forecast, national steel institute A??o Brasil said on Thursday December 5.The institute forecast apparent steel consumption at 21.78 million tonnes next year, a 5.2% increase from the 20.71 million tonnes expected in 2019. This year's outlook was cut f...Read More
With competition in the global steel markets still fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in November 2019.1. US: stainless pressure pipe from China, Malaysia, Thailand and VietnamRead More
- RambusI can remember there were times during the PM complex bull market before 2011 that sometimes the PM metals would rally but the PM stocks were very weak. Then there were times when the PM stock would rise while the PM metals moved very little. At the time of those occurrences it was bewildering as common sense suggested they should all move together and the stronger the metals moved so...Read More
By: Ira EpsteinI do not buy anything Trump is saying in front of NATO, for the press, in negotiations in his trade-deals. Next round of sanctions with China is nearing and will know more soon. Gold still not over the key 18-week moving average, negative bias remains..Read More
Glencore has cut its production guidance for cobalt in 2020 to 25,000-33,000 tonnes, down by about a third from 2019's 41,000-45,000 tonnes, the Swiss miner-trader said this week.In an investor presentation on Tuesday December 3, the company said that for 2021 and 2022 it expects to produce 28,000-36,000 tonnes of cobalt. It said the decline in production was mainly a...Read More
Gold and silver would have skyrocketed yesterday but for news of nearing of a trade deal. US November private ADP numbers stood at 67,000. If nonfarm payrolls on Friday matches ADP, then chances of interest rate cut in next week FOMC could be very high. Gold just corrected on trade deal news while silver fell. Crude oil zoomed. Trump has a history of flip-flop, unless a trade deal is actually si...Read More
Hot-rolled coil prices in the United States continued to edge upward on higher mill offers, limited spot activity and increased scrap costs.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $28.08 per hundredweight ($561.60 per short ton) on Thursday December 5, up by 0.5% from $27.93 per cwt on December 4.US HRC prices have not been calculated above $28 per cwt si...Read More
Expectations for a recovery in Brazilian steel demand this year have been postponed to 2020 since the economy did not grow as previously forecast, national steel institute A??o Brasil said on Thursday December 5.The institute forecast apparent steel consumption at 21.78 million tonnes next year, a 5.2% increase from the 20.71 million tonnes expected in 2019. This year's outlook was cut f...Read More
Northern European steelmakers are expected to achieve increased domestic transaction prices in December, partially reflecting higher offers, sources told Fastmarkets on Thursday December 5.Fastmarkets' steel hot-rolled coil index domestic, exw Northern Europe, was ?,?431.63 ($479.15) per tonne on December 5.The assessment is based on "workable" prices reported by market sources at ?,?425-430 per t...Read More
Christopher Lewis8 hours ago (Dec 05, 2019 4:45 PM GMT)Gold markets initially tried to rally during the trading session on Thursday, but at this point it looks as if the 50 day EMA, and perhaps even more telling the shooting star from the previous session, are offering enough resistance to keep the market in check. Keep in mind that the jobs number comes out on Friday, and that of course makes a h...Read More
Large regional construction projects will remain the main driver of steel demand in the Middle East in the medium term, steel sector professionals told Fastmarkets in a survey ahead of the 23nd Middle East Iron & Steel Conference in Dubai later this month.Infrastructure construction in Qatar for the 2022 Football World Cup and in the United Arab Emirates related to the Dubai Expo 2020 exhibition i...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday December 5 that are worth another look.Chinese stainless steel prices in both the domestic and export markets fell over the past week amid bearish sentiment stemming from the high inventories held at a major mill in eastern China.More of the world's copper looks likely to be priced in China from next year, with the Shanghai Int...Read More
If you are a producer or consumer, or are active in the physical markets, then you had better be aware of a new set of regulations that will make it all the more important for you to choose the right logistics partner from next year.The International Maritime Organization (IMO) has ruled that from January 1, 2020, the marine sector will have to reduce sulfur emissions by more than 80% by switching...Read More
Chris Vermeulen18 hours ago (Dec 05, 2019 7:08 AM GMT)We expected Gold to rally above $1750 before the end of this year, but the global trade wars and news cycles stalled the rally in Gold over the past 2 months. Now, it appears Gold is poised for another rally pushing much higher.But wait, if you’re thinking I’m just another one of those traders who is always bullish on gold,...Read More
More of the world's copper looks likely to be priced in China from next year, with the Shanghai International Energy Exchange (INE) set to launch a new contract tradable by international market participants.The decision to launch, pending regulatory approval, would enable market participants based outside China to trade copper based on a Chinese price, sources told FastmarketsChina, which is the w...Read More
David remains convinced that we remain in a bull market for precious metals that began back in 2015...from Palisade Radio with David MorganDavid remains convinced that we remain in a bull market for precious metals that began back in 2015. Gold remains well above its breakout level of $1350, but silver is struggling below $17. In addition, there is further resistance to overcome between $19 and $2...Read More