The inter-merchant spot price for light iron scrap in the United Kingdom inched up over the past week following an ongoing shortage of supply and rising global markets, sources said on Friday April 17. Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK moved up by ?5 per tonne to ?50-60($62-75) per tonne on April 17, up from ?45...Read More
The pig iron market in the United States was dead during the week to Friday April 17, with buyers showing little interest in purchases while suppliers were not in a rush to stimulate sales by lowering offers to other outlets. Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was stable week on week at $285-290 per tonne on Friday."The steel mills [which are the m...Read More
UK suppliers of steel scrap to domestic consumers have reported a decrease in their prices in the latest monthly settlements in April, following poor market conditions as a result of the Covid-19 pandemic, market sources told Fastmarkets on Friday April 17.Fastmarkets assesses the prices of trend-indicating grades in the UK such as HMS 1&2 (old steel) and OA plate and structural (P&S) scrap.The pr...Read More
Prices paid for Brazil-origin steel slab in export deals have narrowed in the week ended on Friday April 17, with recovering demand in Asia and Europe resulting in increased numbers of deals, sources said.Fastmarkets' weekly assessment of the price of steel slab, export, fob main port Brazil narrowed to $320-345 per tonne on Friday, from $310-355 per tonne a week before.New bids and orders for Bra...Read More
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Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort286,61734,11633,338116,839397,247436,794464,701Change from Prior Reporting Period 6,7373,1783,517-2,0462,7518,2089,446Traders19566684954275160 Small Speculators (C) GoldSeek.com LongShortOpen Interest 53,17125,264489,965 1,7074699,915 non reportable positionsChange from the pr...Read More
By Richard (Rick) MillsImagine, if you will, there was no coronavirus. No haz-mat suits, medical masks & gloves, no make-shift morgues. No terminally ill patients hooked up to ventilators, no horrible deaths without love ones close, no lockdowns, no social distancing, no deserted streets, no bailouts, no emergency wage supplements, just a regular spring with birds chirping and flowers blooming....Read More
Steve St. Angelo, SRSrocco Report The collapse of global oil demand has impacted the price of Canadian Oil Sands to such a degree, the price of a barrel is now cheaper than a 12-pack of Coke purchased at Walmart. According to oilprice.com, the current price of a barrel of Western Canadian Select (oil sands) is $4.47 versus a 12-pack of Coke at Walmart for $5.08. What a deal... ah? Now, l...Read More
By: Ira EpsteinGold will react to Trump's new conference (just after this recording). Re-opening will be different, varying over the nation and economy. Health care near year's highs.Gold's short-term giving up gains. Swing-line down, bull's don't want to see..Read More
Focus is on how the world will move once the various nations open up. Gold and silver will break free from the recent range trade and form a new range. No need to worry. I will prefer till next week and then make decide on whether to make a new investment in gold or wait. In the short term selected stocks will give a much better return than gold. Silver should outperform gold as prices moves sho...Read More
Trading activity in the CIS export billet market was limited in the week to Friday April 17, with customers in most outlets preferring to take a wait-and-see approach amid a lack of clarity over the future price trend.Market sentiment has not been helped by the approaching religious holidays in the Middle East and the weak demand for finished steel products resulting from the global response to th...Read More
Prices in Southeast Asia's steel billet market were stable on Friday April 17, despite an upturn in global ferrous scrap prices, with demand in the region remaining weak.Market participants were doubtful that suppliers could push through price increases for sales to Southeast Asia due to lackluster billet demand with most countries in the region still under restrictions imposed by their respective...Read More
The price of vanadium pentoxide in Europe jumped by more than 25% in the week ended Friday April 17 due to concerns over obtaining the material during the continued lockdown in South Africa. Fastmarkets assessed the vanadium pentoxide 98% V2O5 min, in-whs Rotterdam price at $6.90-7.45 per lb on Friday, up 25.3% from the previous week's assessment of $5.2-6.25 per lb and at a three-month high....Read More
Shares of Tronox Holdings traded higher after the company released preliminary Q1/20 earnings data and provided an update on its ongoing operations. This morning prior to the opening of U.S. markets, Tronox Ltd. (TROX:NYSE) announced some selected preliminary unaudited financial results for Q1/20 ending March 31, 2020. The company additionally provided an update on its current business operations...Read More
Oil futures remained at their lowest since 2002The Dow extended its midday rally to end both the day and week higher thanks to a life out of Boeing (BA). However, it did pare earlier gains due to underperforming Apple (AAPL) and Amazon.com (AMZN). The Nasdaq and S&P 500 also ended the day and week in the black, boosted by optimism over Gilead Sciences' (GILD) potential coronavirus treatment. Loo...Read More
Moderna received millions in funding for coronavirus vaccineGilead Sciences (GILD) isn't the only one making headlines today in regards to COVID-19. Shares of Moderna Inc (NASDAQ:MRNA) are soaring, after the company received a $483 million from the Biomedical Advanced Research and Development Authority (BARDA) to accelerate the development of its coronavirus vaccine. Following the news, Piper Sand...Read More
Boeing announced it will resume production next weekAmid the COVID-19 pandemic, it's an understatement to say the airline sector is taking a massive hit. The order book of jet makers and their deliveries has been impacted immensely, with Boeing Co (NYSE:BA) suffering a reported 313 cancellations mixed between contract terminations and future cancellations. Despite this, the aerospace giant plans...Read More
IBM is seeing resistance at the descending 40-day moving averageShares of blue-chip IBM (NYSE:IBM) are up 2.8% this afternoon, last seen at $118.89. The equity has been inching its way higher from its March 23, 11-year low of $90.56, and is now up 7% for the month of April. Today's gains has the tech name attempting yet another rebound close back above the 40-day moving average, a feat made just t...Read More
All three indexes are on track for their first back-to-back weekly gains in over a monthDespite paring bigger gains, the Dow Jones Industrial Average (DJI) looks like it will end the week on a positive note, up nearly 400 points at midday. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are both joining the Dow in the black, as optimism over a possible COVID-19 treatment eases Wall Stre...Read More