Iranian export billet and slab prices remained unchanged in the week to Wednesday March 11, with a slowdown in domestic demand limiting trading activity while the country approaches the Persian New Year holiday on March 20.The increased demand in the local market in recent weeks was a result of the loss in the exchange-rate value of the national currency against the US dollar, with local traders h...Read More
China's northern coastal province of Hebei will remain the key steelmaking hub in the country even though its production capacity is shrinking and new facilities are being added in south China, market sources told Fastmarkets this week.China has introduced sweeping capacity replacement plans over the past couple of years, compelling producers to upgrade their steel production facili...Read More
China's domestic rebar prices maintained their upward momentum on Wednesday March 11 on strengthening end-user demand. Eastern China (Shanghai): 3,440-3,470 yuan ($495-499) per tonne, up 30 yuan per tonne Northern China (Beijing): 3,300-3,340 yuan per tonne, up 30 yuan per tonneIn China, some 111,900 out of a total of 192,500 housing and infrastructure projects - 58.2% - have resumed construction...Read More
Join Fastmarkets' free webinar on how the steel supply chain in Asia has responded to the novel coronavirus (2019-nCoV) outbreak, and what the next moves could be for the steel industry and its upstream raw materials. Register here for the webinar.Date Wednesday April 8 Time 9:30-10:30am (London time) Topics The impact of the coronavirus outbreak on China's and Asia's steel industry as w...Read More
By Gary Savage$SPX in oversold conditions, this is not a new perma-bear market. The market will start pricing in the corona virus dying out. Still another 10-15 years in this bull market to go..https://blog.smartmoneytrackerpremium.com/Read More
If you're a regular reader of these pages, you may recall that we've been documenting the ongoing fraud of "Exchanges For Physical" for the past several years. With trading volumes surging during these turbulent times, EFP use is surging again, too. Thus it's time for an update.Let's start as we often do with a list of links to previous posts on this subject. You might note the first one is date...Read More
Dear Friend of GATA and Gold:Does the U.S. Commodity Futures Trading Commission have jurisdiction over manipulative futures trading by the U.S. government, other governments, or brokers acting for them?Is the commission aware of futures trading by governments?In a letter to U.S. Rep. Alex Mooney, R-West Virginia, dated January 28 and released to GATA yesterday, the commission's chairman, Heath P...Read More
By: Ira EpsteinGold 18-dma is $1636 level. Upper Bollinger is $1699Read More
It is just fear of recession and fear that a long term investing opportunity will be lost that is deciding investment strategy. Traders and find managers are booking profit in every investment (other than stocks) to invest for the long term in stocks. Most believe that stock markets are great long term investing opportunity. Every investment has crashed due to corona virus. Gold, silver, crude o...Read More
Prices for hollow steel sections in both Northern and Southern Europe have moved down this week following the nationwide lockdown in Italy intended to control the spread of the 2019-nCoV coronavirus infection, sources told Fastmarkets on Wednesday March 11.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?600-630 ($681-715) per tonne on W...Read More
Turkish pipe export prices have increased over the past month due to stronger raw materials costs, sources said on Wednesday March 11.Fastmarkets' monthly price assessment for steel structural pipe, export, S235JR grade, EN10219, 2mm wall thickness, fob main port Turkey, was $530-540 per tonne on Wednesday, up...Read More
Franco-Nevada's Q4/19 and full-year 2019 numbers and 2020 guidance are reviewed in a CIBC report. In a March 9 research note, CIBC analyst Cosmos Chiu reported that Franco-Nevada Corp. (FNV:TSX; FNV:NYSE) significantly beat earnings estimates in Q4/19 due to record sales of gold equivalent ounces and revenues. Thus, CIBC increased its target price on the gold royalty streaming company to CA$162 p...Read More
The findings are from two of Treasury Metals' drill programs: expansion and infill. Gold barsTreasury Metals Inc. (TML:TSX: TSRMF:OTCBB) announced in a news release that new drill results from two zones at its Goliath gold project in Ontario are encouraging.The company noted that expansion drilling of the high-grade shoots in the Eastern Main zone showed consistency of mineralization across them....Read More
Pretium Resources' flagship gold operation in B.C. should generate strong cash flow well into the future, the company stated. In a news release, Pretium Resources Inc. (PVG:TSX; PVG:NYSE) announced that an update of its mineral reserves, mineral resources and life-of-mine plan for Brucejack in British Columbia, shows "continued robust economics of the long-life underground operation."The updated...Read More
Technical analyst John Newell charts the Dow-Gold ratio and speculates on where it could be heading. The Dow/Gold ratio broke a trend-line in past few weeks that could be signaling that gold could be trending higher against the Dow Jones Industrial Index in the next 18 months to two years. An example might be a ratio of 10 or the Dow at 20,000 and gold at $2,000 (a new all-time high in U.S. dolla...Read More
The enlargement of the quarantine zone in Italy to a nationwide reach has already started to affect steel output, with at least two long steel mills announcing production stoppages, sources told Fastmarkets on Wednesday March 11.On March 9, Italian authorities extended the lockdown from northern areas across the whole country in an attempt to control the outbreak of the 2019-nCoV coronavirus.Long...Read More
China's northern coastal province of Hebei will remain the key steelmaking hub in the country even though its production capacity is shrinking and new facilities are being added in south China, market sources told Fastmarkets this week.China has introduced sweeping capacity replacement plans over the past couple of years, compelling producers to upgrade their steel production facili...Read More
Oil prices remained under pressure as wellIt was another bloodbath on Wall Street today. The Dow, S&P 500, and Nasdaq all fell by 4.5% or more, with the blue-chip index closing in bear market territory. The latter two indexes briefly dipped into bear market territory, but ultimately did not close there. The global economy continues to struggle in the face of the spreading coronavirus outbreak, esp...Read More
There's optimism to be unwound in the options pits, too It has been a rocky road for Exelon Corporation (NASDAQ:EXC) is recent weeks, with the utility services specialist falling victim to the broader market's steep slide. In fact, at the end of last month, the stock hit its lowest level since late-2018, and is now struggling to conquer its year-to-date breakeven, which it closed south of on Frida...Read More
The 80-day moving average has meant more downside for SFM in the past Grocery store concern Sprouts Farmers Market Inc (NASDAQ:SFM) has endured a choppy journey lower in the past 12 months, evidenced by its 26.2% year-over-year deficit and early February record low of $14.51. While the shares have since bounced from this region, the rally was short-lived, with SFM consolidating back below the $17....Read More