Sentiment in the market for pig iron exports from the Commonwealth of Independent States has improved, with demand appearing in China and mills able to avoid further price reductions to their traditional outlets, Fastmarkets heard on Friday October 11.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $270-275 per tonne on October 10, narrow...Read More
Technical analyst Clive Maund charts a junior explorer and explains why he sees it as a speculative buy. Although we are generally aiming to gravitate towards the large and mid-cap gold stocks during the early stages of the sector bull market, it is worth considering smaller stocks from time to time, if they measure up fundamentally and technically. Goldcliff Resource Corp. (GCN:TSX.V) is one suc...Read More
Recent assays demonstrate high prospectivity between two existing zones. Pure Gold Mining Inc. (PGM:TSX.V; PUR:LSE) identified a new target area for discovery at its Madsen gold complex in Ontario, it announced in a news release. As such, the company expanded its current drill program by 20,000 meters (20,000m). The new area of interest, where Pure Gold hit mineralization on drilling and where ex...Read More
These results are from one of the company's high-priority regional prospects. Nighthawk Gold Corp. (NHK:TSX.V) announced in a news release results from eight more holes drilled over 2,328 meters (2,328m) at its Treasure Island gold project. Assay results are pending for the last nine holes of the total 19 drilled this year at Treasure Island, which sits on Nighthawk's Indin Lake property in Canad...Read More
Brazilian export prices for steel slab remained stable in the week ended Friday October 11 because few deals have been reported with producers cutting slab output as a consequence of the low prices.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, was $370-380 per tonne fob on Friday, unchanged from the previous week.Producers continued to focus in the United State...Read More
The Egyptian Ministry of Trade and Industry announced permanent duties on steel billet, rebar and wire rod on October 10, effective from October 12, Egyptian sources told Fastmarkets.The permanent safeguard duty is 16% of the cif price and a minimum of $74 per tonne for steel billet from October 12, 2019 until April 11, 2020. The duty will fall to 13% and $60-per-tonne minimum payment on April 12,...Read More
Iranian semi-finished steel exporters resumed sales to China this week as customers in the country returned to the market after Golden Week holiday which took place from October 1-7.A 30,000-tonnes prompt shipment cargo was heard booked in China at $405-410 per tonne cfr. That would net back to $365-370 per tonne fob, market participants said. The deal has not been included in the assessment as sh...Read More
The price of stainless steel cold-rolled sheet in Europe was lower this week because of sustained pressure from poor demand, Fastmarkets heard on Friday October 11.Fastmarkets' price assessment for stainless steel cold-rolled sheet, 2mm, grade-304, transaction domestic, delivered North Europe, was ?,?2,350-2,400 ($2,587-2,642) per tonne on Friday, down by ?,?40-50 per tonne week on week.Many marke...Read More
A phase one deal with China has been reached, Trump confirmedStocks soared today, with the Dow closing over 300 points higher after a report from Bloomberg News said the U.S. and China came to a partial trade deal earlier today. Bullish momentum accelerated into the close after President Donald Trump confirmed, speaking alongside Chinese Vice Premier Liu He in the Oval Office, that the two countri...Read More
U.S.-China trade chatter dominated headlines this weekFed buzz and U.S.-China trade chatter led to a volatile ride for stocks this week, though the major market indexes are set to finish on a high note. The week started out rough after the U.S. expanded its Chinese trade blacklist, but optimism about high-level talks in Washington, D.C. -- partially fueled by President Donald Trump's tweet storm...Read More
Plus, Wendy's is rolling out a breakfast menu in 2020The shares of Wendy's Company (NASDAQ:WEN) are in focus today, up 4% to trade at $20.69. The fast food chain is buzzing after reportingpreliminary same-store sales of 4.4%, topping the estimated 2.5% figure. The encouraging numbers, combined with the company's 2020 rollout of a breakfast menu to compete with McDonald's (MCD), have options trader...Read More
British PM Boris Johnson sees a "pathway to a possible deal"Ahead of the Oct. 31 Brexit deadline, new British Prime Minister Boris Johnson touted a "pathway to a possible deal" to leave the European Union (EU). Against this backdrop, stocks in the U.K. skyrocketed today -- and the iShares MSCI United Kingdom ETF (EWU) is pacing for its best day since 2016 -- including several big banks. In fact,...Read More
Apple's added more than 15% in three monthsThe Dow is pacing for its best day in months, and two stocks having big days are Apple Inc. (NASDAQ:AAPL) and Fastenal Company (NASDAQ:FAST). Let's check in on the shares of AAPL and FAST during their strong session on the charts. Apple Stock at All-Time HighAAPL shares have spiked 1.9% to trade at $234.55, and earlier hit a record high of $235.20. The st...Read More
President Trump will meet with China's vice premier later todayThe Dow Jones Industrial Average (DJI) is cruising toward its third straight winin style today, up over 450 pointsas Wall Street cheers encouraging U.S.-China trade talk developments. The blue-chip index is gunning for its best single-session gain since June 4, after President Donald Trump -- who will meet with Chinese Vice Premier...Read More
CRWD shares are pacing for a fourth straight lossCrowdStrike Holdings Inc (NASDAQ:CRWD) shares are down 4.7% at $58.53 -- and pacing for a fourth straight loss -- after analysts at Goldman Sachs downgraded the cybersecurity concern to "sell" from "neutral." The brokerage firm also sliced its price target on CRWD shares to $66 from $83, citing valuation and "elevated" expectations for the company....Read More
JNJ shares have been testing the 200-day moving averageJohnson & Johnson (NYSE:JNJ) shares are up 1.7% today at $131.29, after Bernstein said it believes the company will make progress on settling its $10-$12 billion in legal liabilities over the next year, adding that the worst-case scenario has already been priced into the stock. The brokerage firm upgraded its opinion to "outperform" from "mark...Read More
ROKU had recently pulled back from its September highsShares of streaming service Roku Inc (NASDAQ:ROKU) are 7% higher at $124.62 this morning, with the company on the receiving end of an impressive upgrade out of RBC. The firm upgraded ROKU to "outperform" from "sector perform," and hiked its price target to $155 from $107. Analysts at RBC say Roku's valuation has become compelling, naming the N...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 334,38358,82053,301167,755478,697555,439590,818 Change from Prior Reporting Period 11,5835,013-5,1984,70511,95911,09011,774 Traders 21469785451292175 Small Speculators LongShortOpen Interest 61,51826,139616,957 98229812,072 non reportable...Read More
Gold investment demand was strong in the months following gold's decisive breakout to new bull-market highs in late June. The metal's upside momentum fueled big capital inflows, accelerating its gains. But soon after gold's upleg stalled, so did the investment buying. With stock markets still near record highs, the normal portfolio-diversification motive for owning gold is lacking. Thu...Read More
By: Ira EpsteinGold has been stuck for a week and a half trading around the 18-DMA..Read More