China's domestic rebar prices moved up slightly on Thursday April 23, supported by falling stocks in the spot market. Eastern China (Shanghai): 3,440-3,470 yuan ($487-471) per tonne, up 10-20 yuan per tonneNorthern China (Beijing): 3,430-3,470 yuan per tonne, widened upward by 10 yuan per tonneRebar prices rose slightly due to reduced inventories. A trader in eastern China...Read More
Newmont Corporation (NYSE: NEM, TSX: NGT) is the world's leading gold company and a producer of copper, silver, zinc and lead. Newmont's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions, in North America, South America, Australia and Africa. We learned from Steve Gottesfeld, who is Executive Vice President and Chief Sustainability and External Aff...Read More
Today is Thursday, April 23, 2020, and this is your daily gold market update. Let's look at the latest price of gold, value of the dollar, gold/silver ratio, Commitment of Traders data, and exchange-traded fund (ETF) prices to get a sense of how the yellow metal is faring today.Gold PriceThe price of one troy ounce of gold in U.S. dollars today is $1,725.30. It's up 0.61% from yesterday and up 35....Read More
The range of offers for rebar and wire rod exports from the Commonwealth of Independent States (CIS) region has widened so far in the second half of April.Rebar offers from the CIS have varied widely, but have stayed within the range of $380-410 per tonne fob Black Sea.Some mills are keeping their offers on the lower side to attract customers, while others - mainly from Russia,...Read More
Today is Thursday, April 23, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of CONSOL Coal Resources LP (NYSE: CCR), ProPetro Holding Corporation (NYSE: PUMP), and Peabody Energy Corporation (NYSE: BTU).CONSOL Coal Resources LP (NYSE: CCR)CONSOL Coal Resources LP (NYSE: CCR) is a $144.8 million company today with a one-year return of -70.54%. Let's look a...Read More
I was standing six feet behind the man in front of me.We were both in line at the pharmacy to pick up our medications.The pharmacist brought him four pill bottles, told him the total was $84 and held out his hand to accept the man's $100 bill.He took the cash, put it in the register, pulled out some change, and handed it to the customer.Certainly, this doesn't seem like an odd transaction. These t...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 23 that are worth another look.Anglo American has lowered the 2020 production guidance for its Kumba iron ore operations to 37-39 million tonnes, down from a previous guidance of 41.5-42.5 million tonnes, due to the lockdown in South Africa, the miner said on April 23.South Africa is to end its nationwide lockdown and ease r...Read More
Today, on INK Ultra Money we are treated to a master class in precious metals and mining investing by legendary resource investor Rick Rule. He lays out the stages of his precious metals investing strategy to help investors understand where we are currently in the precious metals investing cycle.We also highlight the INK Edge stock in the hottest North America sector right now. The combination ju...Read More
Turkish steel mills extended their absence from the deep-sea scrap markets due to a public holiday in the country on Thursday April 23, keeping any possible trading opportunities on hold.Thursday marked the National Sovereignty and Children's Day public holiday in Turkey, with most people in the country away from work. In addition to this, the country has imposed a lockdown from April 23 to April...Read More
This morning, Real Vision hits on some potential big trends that we would expect to develop in our G-economy scenario. Should this scenario unfold, the investing environment will be a lot different than what investors experienced over the past decade. Meanwhile, some insiders are betting on better days ahead in the oil patch.We start off with Dr. Peter Warburton, director of Economic Perspectives...Read More
Prices for deep-sea bulk cargoes of ferrous scrap in Bangladesh have stayed largely flat over the past week amid a continued standoff between mills and suppliers, sources said on Thursday April 23.More stability in the Turkish import scrap market, a plunge in the price of crude oil and the continuation of Covid-19 pandemic lockdown restrictions in Bangladesh were three reasons highlighted by marke...Read More
Demand for imported steel billet and domestic rebar in Egypt was soft in the week ended Thursday April 23 and was unlikely to improve in the short term because of the start of the Islamic holy month of Ramadan, as well as the Covid-19 pandemic, sources have told Fastmarkets.No new billet deals have been heard since April 12, when the Egyptian ministry of trade postponed the reduction of the duty i...Read More
China's domestic rebar prices moved up slightly on Thursday April 23, supported by falling stocks in the spot market. Eastern China (Shanghai): 3,440-3,470 yuan ($487-471) per tonne, up 10-20 yuan per tonneNorthern China (Beijing): 3,430-3,470 yuan per tonne, widened upward by 10 yuan per tonneRebar prices rose slightly due to reduced inventories. A trader in eastern China...Read More
China's domestic and export prices for stainless steel moved up amid rising raw material costs.Rising nickel futures on the London Metal Exchange led to an increase in the prices for nickel pig iron, a major raw material for producing stainless steel in China, sources said. The three-month nickel contract on the London Metal Exchange ended the official trading session on Monday at $12,334 per tonn...Read More
By Stefan GleasonThe Wuhan virus outbreak, and the economic lockdowns that spread globally because of it, have accelerated the trend toward a digital economy.Suddenly millions more people are working from home, through their internet connections. Millions more are also relying on Amazon for their shopping needs.Jeff Bezos' empire had already put most brick-and-mortar bookstores out of business....Read More
By RambusThere are as many ways to play the PM sector as there are investors. Some will only buy the big cap PM stocks for safety. Others will only buy the mid cap producers. Some will only buy a mix of big caps and mid cap producers. And then there are the PM stock investors that will only play the juniors. Each has its own advantage depending on your risk tolerance. Some of you are wondering...Read More
Let's talk about what conditions will be like and about how you can get through the Greater Depression confidently, comfortably, and profitably. It's not going to be easy or fun, but it's possible.I am of the opinion that what's happening now isn't just another cyclical downturn that can be papered over by printing up some more money although that's exactly what the U.S. and other governments ar...Read More
The world watches as a number of economies begin, or plan, to lift certain lockdown measures that were earlier put in place to slow the spread of the coronavirus.China may have been the first to do so when it reopened Wuhan, the industrial city of 11 million that was ground zero for the novel virus, though life there is still far from normal.Last week, Italy began allowing small shops such as cl...Read More
Chris has been frequently critical of our leaders' bungled responses throughout the coronavirus pandemic. So today he turns the tables on himself and asks: Well, what would *I* do if I were in charge? He walks through the major policies he would embrace to address both the health and economic crises we're currently dealing with. Everything from resourcing the national covid-19 response, to keeping...Read More