China's domestic rebar prices increased on Friday March 13 on futures gains driven by market participant optimism over the news of a reduction in the central bank's required reserve ratio. Eastern China (Shanghai): 3,450-3,480 yuan ($494-498) per tonne, up 20 yuan per tonne Northern China (Beijing): 3,320-3,360 yuan per tonne, up 20 yuan per tonne People's Bank of China (PBOC) plan...Read More
Today on INK Ultra Money Free, we are making the INK morning report free to everyone. Just look for the paper clip in the bottom navigation bar when playing the video. In the report, INK Research takes a look at the current US response to the COVID19 crisis and where we might be in terms of China. It also looks at a beaten down little oil stock that is making some big changes to navigate the cris...Read More
The pig iron market in the United States has weakened during the week to Friday March 13, under pressure from the general economic uncertainty caused by the novel coronavirus (2019-nCoV), sources told Fastmarkets.Fastmarkets' price assessment of pig iron, import, cfr Gulf of Mexico, US, was $345-347 per tonne on Friday, down from $360-363 per tonne a week ago."We are concerned about the effects...Read More
German steelmakers have settled their monthly contracts for ferrous scrap in March with a month-on-month increase of ?,?10-15 ($11-17) per tonne, following the rise in the international market, sources told Fastmarkets on Friday March 13.The steelmakers, however, had wanted lower prices for scrap due to the fall in long steel demand that has resulted from the uncertainties related to the 2019-nCoV...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 336,29036,75954,064182,948511,252573,302602,075 Change from Prior Reporting Period -29,883-9,681-31,2954,814-17,893-56,364-58,869 Traders 20177796158300183 Small Speculators LongShortOpen Interest 60,16831,395633,470 -2,151354-58,515 non reportable positi...Read More
With the major gold miners' stocks getting bludgeoned, smart contrarian traders are salivating at coming great buy-low opportunities! With the COVID-19 pandemic's extreme fear terrifying the markets, it's very important to stay grounded in the gold stocks' underlying fundamentals. Just this week they are finishing reporting their Q4'19 results, which were incredibly impressive thanks to re...Read More
Gary Christenson, The Deviant InvestorStay with me on this... the purpose will become clear soon.Assume (without laughing or crying) that our U.S. senators are honest individuals filled with integrity. Yes, I know, but stay with me...They voted during the impeachment trial for President Donald Trump. They swore to uphold the following oath:"Do you solemnly swear that in all things appertaining t...Read More
Do not look at corona virus news. It will only result in you making a wrong decision. Think long term. Thing strategically and then invest. Do not try to play the T20 cricket game. Hit or miss way of investing will result in more misses or more losses. Invest with a 5 day cricket test match view. A good investment call and you can easily make over hundred percent return before Christmas. Asian n...Read More
The pig iron export price from the Commonwealth of Independent States has rolled back under pressure from the bearish mood caused by the global spread of the novel coronavirus (2019-nCoV). Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $320-327 per tonne on March 12, down from $329-340 per tonne a week earlier."Crashed oil pric...Read More
The price of steel slab from Brazil has edged downward over the past week, with sellers attempting to put limits to a downtrend in the market amid growing uncertainty in the United States.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, fell to $460-470 per tonne on Friday March 13, from $470-475 per tonne in the previous week.The market was shaken when many custo...Read More
Trading activity in the CIS export billet market remained quiet in the week ended Friday March 13 despite the fact that most CIS mills have reduced their offer prices.Offers from Russia and Ukraine were heard mainly within the range of $390-395 per tonne fob Black Sea, down by $5 per tonne week on week. One Russian producer even offered billet as low as $380 per tonne fob Black Sea, but the offer...Read More
China's domestic rebar prices increased on Friday March 13 on futures gains driven by market participant optimism over the news of a reduction in the central bank's required reserve ratio. Eastern China (Shanghai): 3,450-3,480 yuan ($494-498) per tonne, up 20 yuan per tonne Northern China (Beijing): 3,320-3,360 yuan per tonne, up 20 yuan per tonne People's Bank of China (PBOC) plan...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ended Friday March 13. United States Thin available inventory pressured prices upward. Consumer interest was still limited but suppliers drove liquidity...Read More
In doing so, Novo Resources will consolidate its regional land holdings there and dissolve the joint venture. Novo Resources Corp. (NVO:TSX.V; NSRPF:OTCQX) announced in a news release it will acquire a 100% interest in exploration licenses E47/1745 (Purdy's Reward) and E47/3443 (47K) in Western Australia from Artemis Resources, thereby eliminating the last Novo-Artemis joint ventures. "Novo now h...Read More
The price of stainless steel in the domestic European market was unchanged in the week ended Friday March 13 amid stable market conditions, but participants were bracing for a substantial downturn driven by the measures to contain the outbreak of 2019-nCoV coronavirus, sources have told Fastmarkets."So far... demand is unchanged, but a decrease might come," a Scandinavian distributor said. "Can we...Read More
Mako Mining presents the highlights of recent positive drill results. San Albino projectIn a news release, Mako Mining Corp. (MKO:TSX.V; MAKOF:OTCMKTS) announced that drilling in the Las Conchitas area of its San Albino-Murra property in Nicaragua extended near-surface, high-grade gold mineralization. Results are available for 17 holes totaling 1,669 meters (1,669m) and drilled in five zones. Ass...Read More
Divesting of these assets allows Liberty Gold to focus on its core projects. Liberty Gold Corp. (LGD:TSX; LGDTF:OTCQB) announced in a news release it closed two sales.One was the sale of its net profit interest in the Regent Hill property in Nevada to Ely Gold Royalties Inc. (ELY:TSX.V; ELYGF:OTCQB). With the transaction, Liberty received US$800,000 and 2 million purchase warrants for Ely Gold co...Read More
Key points about Equinox Gold are made in a BMO Capital Markets report. In a March 11, 2020, research note, BMO Capital Markets analyst Ryan Thompson reported that coverage of Equinox Gold Corp. (EQX:TSX; EQX:NYSE.A) resumed following a period of research restriction related to its merger with Leagold and was transferred to him. BMO increased its target price on the gold producer, which it rates...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ended Friday March 13.China Spot domestic Chinese ferro-chrome prices have dropped after leading mill Tsingshan Group lowered its March tender price by 2.6%.The lower tender and...Read More
Oil and gold also logged brutally sharp weekly lossesThe Dow finished an ugly week on a high note, as Wall Street recouped some of the historic losses it suffered in the last five days. The blue-chip index posted its best percentage gain since October 2008, adding huge last-minute gains after a news conference from President Donald Trump, who declared the coronavirus outbreak a national emergenc...Read More