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

Oil is enjoying a lift of its ownStocks continue to shake off yesterday's worst day since 2008, with the Dow Jones Industrial Average (DJI) up around 126 points at last check. The S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also in recovery mode, as President Donald Trump put forth the idea of a payroll tax cut or relief in response to the rapidly increasing coronavirus headwinds in the U...Read More

Several analysts have cut their price targetsStitch Fix Inc (NASDAQ:SFIX) is down 30.6% to trade at $14.72 this morning, one of the worst stocks on the Nasdaq today and alreadyhitting a record low of $14.28. Though the company reported profits of 11 cents per share, higher than Wall Street's estimated six cents per share, the reported revenue of $451.78 million came in lower than the estimated 452...Read More

AIM Immunotech is developing a vaccine that was used to contain the SARS outbreakShares of AIM Immunotech Inc (NYSE:AIM) were last seen trading down 22.5% at $4.73, despite yesterday announcing that the National Institute of Infectious Diseases (NIID) in Japan will begin testing its drug Ampligen, a broad-spectrum antiviral, as a potential treatment for the new coronavirus outbreak. Researchers...Read More

President Trump proposed a tax cut to combat the negative economic effects of COVID-19Stocks are recovering some of yesterday's historic losses in pre-market trading today, as the Dow Jones Industrial Average (DJI) signals a nearly 900 point open. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also eyeing a significant pop, after U.S. President Donald Trump proposed the idea of "a...Read More

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

Extreme volatility in the equity markets has investors wonderingwhat to expect. Even the hardiest of stock market bulls are finally asking someserious questions about whether the top is in.Stocks have long been priced for perfection and suddenlyconditions are looking far from perfect. The coronavirus may be the pin whichpricks the latest Fed-blown bubble.Precious metals investors have been prepari...Read More

The baseline case for gold 320 ADWe sometimes forget that inflation is a process rather than an event. One of the better-known examples of that axiom is the nearly two centuries-long debasement of Rome’s silver denarius – an inflationary episode Jack Whyte, a writer of historical fiction, skillfully addresses in his latest novel, The Burning Stone.Set in Great Britain in the fourth cen...Read More

Chinese steel company Hebei Jingye Group has completed its acquisition of British Steel, the company said on Monday March 9, but the deal does not include the French operations at Hayange.The deal, which is believed to have cost ?50 million ($55.51 million), brings to an end a nine-month search for a new owner of the UK's second-largest steelmaker.Assets included in the deal include British Steel...Read More

Market sources have been puzzled by the gradual upward trend in China's steel prices after the novel coronavirus (2019-nCoV) broke out in a big way after the Lunar New Year holiday. Spot prices gained further momentum in the first few days of March, even though the number of infections in China has continued rising, and steel inventories have surged.Fastmarkets' price assessment for stee...Read More

Northern China's steel hub of Tangshan will cut 1.6 million tonnes of hot metal production at 20 steel mills in March to improve air quality, market sources in the country told Fastmarkets on Monday March 9.This round of production cuts will affect around 56 blast furnaces in the city, according to Fastmarkets' estimation, which will ease the pressure of high inventories at steel mills and in the...Read More

Here are five Fastmarkets stories you might have missed on Tuesday March 10 that are worth another look.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 March 10.A falling aluminium price on the Shanghai Futures Exchange below pro...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