The London Metal Exchange may switch from open outcry to electronic price discovery if the 2019-nCoV coronavirus makes it impossible for ring-trading to continue safely, it has said.At the moment, the ring is continuing to operate from London, and the exchange has adopted various precautionary measures intended to halt the spread of the virus, including the creation of a split-team arrangement for...Read More

The recent extension of the 2019-nCoV coronavirus quarantine area to all of Italy has resulted in trading activity falling to nearly zero and has caused some minor disruptions to deliveries, sources told Fastmarkets on Tuesday March 10.But production has not been affected by the tougher measures, market participants said.On March 9, Italian authorities ordered a lockdown of whole country in an att...Read More

Ferrous scrap prices in Mexico were unchanged in the week ended March 6, with rising inventories held by some steelmakers and uncertainty in the United States market.Fastmarkets' weekly assessment of the steel scrap No1 heavy melt, consumer buying price, delivered mill Monterrey, remained at 5,050 pesos ($238) per tonne on Tuesday March 10, while the steel scrap No1 busheling, consumer buying pric...Read More

Turkish steel producers have continued to hold back from the deep-sea scrap market despite shrinking stock levels because of the firm prices being asked, sources said on Tuesday March 10.There have been no new bookings so far this month, but suppliers were keeping their offers steady.Offers of HMS 1&2 (80:20) from the US remained at $280 per tonne cfr, while offers of similar material increased by...Read More

The seaborne iron ore market has been bolstered on Tuesday March 10 amid concerns over supply constraints from Brazil and positive expectation for steel demand in March and April. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $92.09 per tonne, up $4.13 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $93.40 per tonne, up $4.13 per tonne58% Fe fines high-grade premium, cfr Qing...Read More

Customers in some of the major outlet markets for CIS-origin steel slab have reduced their bids significantly in the past week due to the drop in demand and uncertainty in the global market caused by the spread of the 2019-nCoV coronavirus.No indications of fresh offers were heard from CIS producers on Tuesday March 10 because mills were said to be assessing the market.A source in Italy expected n...Read More

Dr. Ron PaulLast week, the Federal Reserve responded to Wall Street's coronavirus panic with an "emergency" interest rate cut. This emergency cut failed to revive the stock market, leading to predictions that the Fed will again cut rates later this month.More rate cuts would drive interest rates to near, or even below, zero. Lowering interest rates punishes people for saving, thus encouraging co...Read More

Clint SiegnerExtreme volatility in the equity markets has investors wondering what to expect. Even the hardiest of stock market bulls are finally asking some serious questions about whether the top is in.Stocks have long been priced for perfection and suddenly conditions are looking far from perfect. The coronavirus may be the pin which pricks the latest Fed-blown bubble.Precious metals investor...Read More

By Robert LambourneAccording to its recently published February statement of account, the Bank for International Settlements, which represents most central banks, appears to have increased its position in gold swaps and gold-related derivatives by 6 tonnes over its position at the end of January, bringing it to an estimated 326 tonnes.The bank's use of gold swaps and derivatives has risen by mor...Read More

By: David HaggithYesterday was the greatest crash in Wall Street history by one measure, and took down many other milestones. The Dow plunged 2,012 points in its largest single-session drop on record! Percentage-wise it was down 7.8%, which still knocked out decades of lows, leading to "Black Monday" being the hot search term on Google today as people sought a comparison worthy of this Monday...Read More

By: Ira EpsteinGold's vertical rise shows its power. 18-dma is $1628, Bollinger bands is up near $1700.Read More

China's domestic rebar prices picked up on Tuesday March 10 on a pick-up in trading activity due to rising futures.Eastern China (Shanghai): 3,410-3,440 yuan ($491-495) per tonne, up 40 yuan per tonne Northern China (Beijing): 3,270-3,310 yuan per tonne, up 10 yuan per tonneMore transactions were concluded during the day compared with Monday, with rebar futures charting big gains, sources said.End...Read More

Maurice Jackson of Proven and Probable speaks to Bob Moriarty of 321gold about his thoughts on the current financial markets and investment opportunities. Maurice Jackson: Welcome to Proven and Probable. Today, we will discuss the Fed, the coronavirus and your investment portfolio.Joining us for a conversation is Bob Moriarty, a world-renowned, best-selling author and founder of the websites 321G...Read More

International, regional and local factors are impacting global tube & pipe markets - some positively and others negatively. In a global overview, Fastmarkets research analyst Kim Leppold identifies the key trends.The extended Chinese New Year holiday in reaction to the novel coronavirus (201-nCoV) outbreak resulted in a steep decline in steel prices in China in the first quarter, but pipe prices w...Read More

International, regional and local factors are impacting global tube & pipe markets - some positively and others negatively. In a global overview, Fastmarkets research analyst Kim Leppold identifies the key trends.The extended Chinese New Year holiday in reaction to the novel coronavirus (201-nCoV) outbreak resulted in a steep decline in steel prices in China in the first quarter, but pipe prices w...Read More

Oil rallied with the Dow after historic lossesAfter a disastrous Monday, the Dow turned in an over 1,000-point rally today, as Wall Streetrecouped some of the historical losses suffered in the previous session. It was an incredibly volatile session, with the blue-chip index trading as much as 160 points lower at its session lows, only to furiously push higher in last-minute trading. The S&P 500 an...Read More

Mining stocks have pushed higher amid the global sell-offAs gold prices and safe haven assets skyrocket in the face of the global economic sell-off, mining stocks such as Barrick Gold Corp (NYSE:GOLD) have weathered the storm. GOLD hit a three-and-a-half year high of $22.44 on Feb. 24, and although its taken a breather since then, data from Schaeffer's Senior Quantitative Analyst Rocky White sugg...Read More

GILD has amassed 19% year-to-dateWith the major U.S. indexes suffering their worst week since the financial crisis of 2008 in late February, it should be non-trivial to say coronavirus - or COVID-19 - has become a massive caveat to not only public health crisis, but to Wall Street as well. The spread and severity of the flu-like epidemic is concurrent to the volatile run in markets during the past...Read More

Southwest Airlines' CEO announced he's taking a 10% pay cut in response to the sector's "severe recession" While the coronavirus outbreak continues to impact the flight sector, shares of Southwest Airlines Co (NYSE:LUV) are down 1.2%, last seen trading at $43.20. In the midst what he described as a "severe recession" for the airline industry, the firm's CEO Garry Kelly announced he was taking a 10...Read More

The retailer just posted a fourth-quarter earnings and revenue beat Dick's Sporting Goods Inc (NYSE:DKS) is getting a big boost today following its fourth-quarter earnings report, up 10.5% at $38.10. The sports equipment retailer reported earnings of $1.32 and $2.61 billion in revenue, topping analysts' expectations, and hiked its quarterly dividend by $13.6. Meanwhile, the company also announced...Read More