More than three years ago, Fed watchers were stunned when none other than Ben Bernanke's former special advisor, Andrew Levin, said that "a lot of people would Continue...Read More
CIS rebar and wire rod producers increased offers for foreign customers in the second half of October following the recovery of scrap and billet prices globally.But buying activity remained limited as customers waited to see more evidence of market stabilization and improvement of demand from end-users.Early last week, offers for Russian wire rod were reported at $425 per tonne fob Black Sea, with...Read More
David feels the term "quiet optimism" does, indeed, sum up the current gold market. He points out that capital markets have yet to open up to most micro-cap gold companies. He feels that the mining sector may well be the last deep value play in the market today.He thinks that gold will eventually rise above $2000 an ounce, but it will take longer than most analysts expect. Indications that we are...Read More
The evidence is quite strong that the correction in Gold and gold stocks has more to go in terms of price and probably Continue...Read More
China's domestic prices for rebar held steady for a second day on Tuesday October 22 despite gains in the futures market, with participants taking a wait-and-see approach before deciding whether to engage in arbitrage trading.Eastern China (Shanghai): 3,580-3,610 yuan ($505-510) per tonne, unchangedNorthern China (Beijing): 3,550-3,590 yuan per tonne, unchangedRebar futures went from a low of 3,28...Read More
The agreement reached between Turkish President Erdogan and U.S. Vice President Pence for a temporary ceasefire in the Turkish incursion into northern Syria demonstratesContinue...Read More
Thibaut Lepouttre of Caesars Report profiles this company exploring its large land package in Finland's greenstone belt. Jeesio BOT Sampling Winter 2018IntroductionFinland would hardly be a country you'd think of when considering exploration companies. However, it's not such a far-fetched idea as senior producer Agnico Eagle Mines (AEM, AEM.TO) has been a successful producer in Finland for years...Read More
Prices for most grades of ferrous scrap in Mexico fell in the week ended Friday October 18, with mills continuing to apply price cuts while they adjusted to recent settlements in the United States and other regions.One mill in the Baj?-o region applied a price cut of 200 pesos ($10.45) per tonne last week. And although its supply of scrap has reduced, it has so far given no sign of reversing this...Read More
Turkish steel producers remained silent in the deep-sea scrap markets for the second consecutive day, while offers for scrap stayed firm, sources said on Tuesday October 22.Steel mills have been largely active in the deep-sea markets in previous weeks, booking material for November deliveries. Turkish steelmakers have booked 16 deep-sea cargoes since the start of the month, totaling...Read More
Seaborne iron ore prices increased on Tuesday October 22 after Vale lowered its sales expectation, while the spread between 65% and 62% Fe indices continued to widen.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $86.68 per tonne, up $1.28 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $86.33 per tonne, up $1.28 per tonne.62% Fe low-alumina fines, cfr Qingdao: $85.27 per tonne, up $1.0...Read More
Import prices for steel billet and rebar in the United Arab Emirates increased over the past week, with domestic rebar prices remaining stable, market sources said on Tuesday October 22.Domestic prices for rebar for the month were announced by the country's producers on October 21. Both Emirates Steel and Conares Steel kept their prices unchanged.Billet importsBillet bookings were made from Oman a...Read More
Earnings disappointments from McDonald's and Travelers knocked the Dow lower With earnings season at full tilt, a mixed day of of blue chip reports wound up sending the Dow lower during that last hour of trading. The index initially inched higher after Procter & Gamble (PG) and United Technologies (UTX) both posted well-received quarterly reports, but eventually succumbed to disappointing results...Read More
China's domestic prices for rebar held steady for a second day on Tuesday October 22 despite gains in the futures market, with participants taking a wait-and-see approach before deciding whether to engage in arbitrage trading.Eastern China (Shanghai): 3,580-3,610 yuan ($505-510) per tonne, unchangedNorthern China (Beijing): 3,550-3,590 yuan per tonne, unchangedRebar futures went from a low of 3,28...Read More
Travelers Companies posted profits of $1.43 per share, which came in lower than analysts' estimates Blue chip name Travelers Companies Inc (NYSE:TRV) is trading back near its early April levels this morning following a disappointing third-quarter earnings report. The firm posted adjusted profits of $1.43 per share, coming in lower than analysts' estimated $2.35 per share. The property and casualty...Read More
MRK is trading down on rival BMY's successStocks are hovering near breakeven today as traders digest a huge round of earnings releases. Two names to watch today are drugmaker Merck & Co, Inc. (NYSE:MRK) and real estate concern Howard Hughes Corp (NYSE:HHC). Here's what's moving the shares of MRK and HHC today. Options Trades Take Sides on MerckMRK has pulled back 3.6% today to trade at $81.47, fol...Read More
China's ferro-silicon market was split between a weakening export price and a steady domestic price last week, with exporters battling soft demand and supplier competition while production cuts supported domestic rates.In Europe, prices have consolidated recent price gains, although the recent rally looks short-lived because export offers into Europe have appeared from Kazakhstan. There are no ant...Read More
Clint SiegnerThe Wall Street Journal's Jason Zweig famously referred to gold as a "Pet Rock" in 2015. He was blasted by people who understand that gold is no passing fad, and it serves some very important roles in an investment portfolio.The valuable roles played by gold have been well covered here. It's a hedge against both inflation and deflation, it represents true diversification for por...Read More
By: Ira EpsteinGold might be heading back to $1475 support area, the daily chart shows no-man's land..Read More
Credit Suisse slashed its price target on Freeport-McMoRan to $11 from $13The shares of Freeport-McMoRan Inc (NYSE:FCX) are down 1.1% to trade at $9.71, ahead of tomorrow's before-the-open third-quarter earnings report. Credit Suisse already came in with a price target cut to $11 from $13 and slashed its Q3 EBITDA estimate to $610 million, and the analyst predicted that the broader metals and mini...Read More
Weekly 10/25 options are flying off the shelves todayThe shares of Biogen Inc (NASDAQ:BIIB) have skyrocketed today, after the company surprised investors with plans to submit its Alzheimer's treatment for regulatory approval in the U.S. Biogen discontinued two late-stage trials of aducanumab earlier this year, but said later data showed encouraging results in memory, language, and orientation amon...Read More