The inter-merchant spot price for light iron scrap in the UK has stabilized over the past week after falling by more than 37% between March 13 and March 27, as the market pauses ahead of monthly delivery settlements to consumers for April.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was unchanged at ?45-55 ($56-68) per tonne on...Read More

The pig iron market in the United States weakened further in the week to Friday April 3, pressured lower by a depressed scrap market and weak demand among mills that have cut steel output.Fastmarkets' price assessment of pig iron, import, cfr Gulf of Mexico, US was $290-300 per tonne on Friday, down from $320-325 per tonne a week earlier."Steel producers in the US cut production a lot because...Read More

ArcelorMittal's Brazilian unit has clarified information about the shutdown of its No3 blast furnace in Tubar??o facility, in the country's southeastern Esp?-rito Santo state; the equipment will remain halted for an indeterminate period, the company told Fastmarkets on Friday April 3.The blast furnace has capacity to produce 2.8 million tonnes of crude steel per year. The Tubar??o unit supplies sl...Read More

Brazilian slab export prices widened during the week ended Friday April 3, with buyers opportunistic after prices decreased sharply in the previous two weeks.Buyers in North America and Asia were showing interest in Brazilian slab, with prices considered a bargain after several weeks of price decreases.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil widened on Fri...Read More

Eurofer has requested an immediate reduction of 75% in EU safeguard quotas for imported steel to to support European industry during the crisis caused by the Covid-19 pandemic."Reflecting the unprecedented implosion of the European steel market, the current quota levels need to be drastically reduced immediately for a period of six months, and by about 75% to align them with the devastating situat...Read More

Item: March 16, 2020. A hugepoly-metallic (gold, silver, copper) mining operation in Mongolia "has suspendedoperations" after authorities "restricted the movement of goods andpeople within the country." Item: March 17. In Peru, one of the world's largestprimary silver-gold producers has its 4 mines "temporarily suspended"following the Government's Declared S...Read More

Weak payrolls data sent stocks spiraling todayThe Dow closed down 360 points, continuing its losses from midday, lead by more than 4% drops by American Express (AXP), United Health (UTX), and newly merged United Technologies and Raytheon's, Raytheon Technologies (now trading under RTX). A substantial surge in coronavirus-related deaths in New York as well as disappointing payrolls data fueled the...Read More

Eurofer has requested an immediate reduction of 75% in EU safeguard quotas for imported steel to to support European industry during the crisis caused by the Covid-19 pandemic."Reflecting the unprecedented implosion of the European steel market, the current quota levels need to be drastically reduced immediately for a period of six months, and by about 75% to align them with the devastating situat...Read More

A slew of coronavirus-related news sent markets on another weekly roller coaster rideWhile stocks enjoyed a strong start to the week, the roller coaster ride Wall Street has been on for the past couple weeks proved to be far from over. U.S. President Donald Trump went back on his plan to reopen businesses by Easter, pushing social distancing measures out until April 30, which cemented in investors...Read More

Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort287,52928,68032,344128,083412,042447,956473,066Change from Prior Reporting Period -30,399-882-11,535-7,628-35,492-49,562-47,909Traders18355635752269146 Small Speculators (C) GoldSeek.com LongShortOpen Interest 47,69622,586495,652 -2,120-3,773-51,682 non reportable positionsCha...Read More

By: Ira Epstein$1484.60 - 1672.40 rang on gold. Not good for the emotional trader. Gold is building a better base. But the overall pattern..Read More

Gold, silver and copper are bullish. Crude oil is bullish. But some weekend correction can be there. At the moment rise in crude oil is short covering. If crude oil manages to trade over $23.00 till Tuesday, then chances of a long term bottom formation will be very high. A lot of people are worried as to what will happen to gold and silver after the release of today's US March nonfarm payrolls?...Read More

Key data from Fastmarkets' pricing sessions in Europe, Shanghai and the United States in the week to Friday April 3. United States  The US ferro-silicon market continued to surge, supported by a limited availability of inventory for the spot...Read More

NFLX's 10-day moving average has stepped up as support latelyNetflix Inc (NASDAQ: NFLX) has held on to a 11% 2020 gain in the face of a global economic meltdown, no doubt in part due to an increase in lockdown measuresin response to the coronavirus pandemic. And although NFLX is down 2.9% at $359.32 at last check, if past is precedent the upcoming quarter could be a friendly one for the FAANG nam...Read More

President Trump said he would invoke the Defense Production Act against 3M in a tweet late on Thursday 3M Co (NYSE: MMM) is down 1.3% to trade at $136.36 this morning, after U.S. President Donald Trump announced on Twitter (TWTR) last night that he was invoking thethe Defense Production Act as a way of getting the company to produce more N-95 face masks. In response, the household goods manufactur...Read More

Historically, ULTA is one of the best stocks to own in the second quarterBeauty retailer Ulta Beauty Inc (NASDAQ: ULTA) has struggled during measures taken to contain coronavirus -- closing stores and moving completely digital. After a price target cut to $200 by Jefferies, ULTA stock is down 0.6% to trade at $160.32. However, a silver lining; Schaeffer's Senior Quantitative Analyst Rocky White b...Read More

The S&P 500 and Nasdaq are also hit with sharp losses at middayThe Dow Jones Industrial Average (DJI) is sitting with modest lossesat midday, down nearly 400 points. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are following the Dow's lead with steep slides, as the Labor Department's nonfarm payrolls report fell by 701,000 in March for the first jobs decline in a decade. The coronavi...Read More

AAPL puts have risen in popularity Apple Inc (NASDAQ:AAPL) has implemented a plethora of new measures to help protect both customers and employees from the infectious coronavirus, including a policy that limited customers to two iPhones per online transaction, and another that saw all of its brick-and-mortar stores outside of China close. While the former policy was rescinded shortly after, Apple...Read More

The alcoholic beverage producer posted fiscal fourth-quarter earnings and revenue that beat estimates Wine and beer producer Constellation Brands, Inc. (NYSE:STZ) surged higher in pre-market trading before eventually falling flat, even after announcing fiscal fourth-quarter earnings of $2.06 cents per share, and $1.9 billion in revenue, beating analysts estimates. The firm said it has plenty of...Read More

Oil prices are once more rebounding today Dow Jones Industrial Average (DJI) futures are pointed lower by nearly triple digits this morning, as coronavirus cases top one million worldwide.Futures on the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) are also deep in the red before the open,as investors unpack the Labor Department's nonfarm payrolls report, which dropped by 701,000 in March, th...Read More