Jefferies quickly called the stock's pullback a buying opportunityAmarin Corporation plc (NASDAQ:AMRN) is one of the biggest losers before the bell today, last seen with pre-market losses of 19.2% to trade at $14.39. A label expansion application for the company's Vascepa drug -- a treatment meant to lower triglycerides in adults that has helped the shares rise almost 31% year-to-date -- has been...Read More
Prices for Brazil-origin steel slab remained unchanged in the week ended Friday August 9, with improved demand in the export and domestic markets helping to keep sentiment buoyant.The weekly Fastmarkets price assessment for steel slab, export, fob main port Brazil, was $425-435 per tonne on Friday, stable from the previous week.Slab producers were more optimistic after the price of iron ore took a...Read More
Oil prices are building on yesterday's gains, though Dow Jones Industrial Average (DJI) futures are signaling a triple-digit drop this morning, as the blue-chip index looks unable to build on yesterday's strong gains. Trade tensions with China resurfaced overnight, after a Bloomberg report indicated the Trump administration was not ready to lift its ban on U.S. companies purchasing Huawei products...Read More
Import prices for flat-rolled steel in South America were mostly down over the week ended Friday August 9, with Chinese mills making less expensive offers and liquidity in the region remaining low.Fastmarkets assessed the price for steel cold-rolled coil, import, cfr main ports South America, at $560-570 per tonne on August 9, down from $570-585 per tonne a week before. This was the lowest level s...Read More
Ferrous scrap prices in the major trading regions other than the United States mostly moved downward during the week from Monday August 5 to Friday August 9. Limited demand for finished steel in Turkey and India, and worsening political tensions in Asia, created the conditions for prices to weaken, Fastmarkets heard. Turkish mills mostly stay out of spot markets, seeking lower prices US scrap expo...Read More
Eldorado Gold shares fell almost 9% after the latest press release.The company has submitted a preliminary short form base shelf prospectus with the securities regulatory authorities.This article explains the effect of this submission.The Skouries mine - The reason for the latest application? Overview Anyone who has read any of my previous articles will know that I am bullish on the outlook for t...Read More
Gold and the related exchange-traded funds are breaking out and miners are going along for the ride. With the yellow metal residing at multi-year highs, investors are pouring gold miners exchange-traded funds, good news for some of the leveraged funds in the group. Of course, the Direxion Daily Junior Gold Miners Index Bull 3X Shares JNUG, -5.11% is getting in on the act. JNUG, which tries to deli...Read More
Zinc's three-month price on the London Metal Exchange fell by 3% at the close of trading on Friday August 9, dropping its lowest price September 2016, while nickel futures held at newly elevated levels despite a 1.6% decline (over the day?). Turnover across the exchange was fairly light over the day's trading, with nickel volumes leading the complex at just over 10,500 lots exchanged by the close....Read More
Three-month base metals prices on the London Metal Exchange were broadly lower during morning trading on Friday August 9, with turnover predominantly low across the complex while continued buying momentum in lead this week tightened nearby spreads. Despite a 0.4% downturn this morning, the three-month nickel price held onto gains made earlier in the week, coming down from a 16-month high of $16,69...Read More
Base metals prices on the Shanghai Futures Exchange were broadly up during morning trading on Friday August 9 as the Chinese yuan stabilized, with nickel continuing to push higher amid bullish sentiment. "The markets have regained some semblance of composure after the People's Bank of China's countercyclical efforts temporarily tamed the yuan beast, but this probably won't stop traders from p...Read More
SD Friday Wrap: The cartel cut just the right wire at just the right time in order to avoid total catastrophe...Gold is looking very strong right now.Silver?You can feel it.Silver is performing very strong as well, even if silver's strength is not yet reflected in silver's current "price".Check out the break-out from major resistance on silver's weekly chart:That's the 200-week moving average, and...Read More
There are many reasons to be bullish for silver. Lior breaks them down, and he shares the silver price he'd sell his stack at...by Patrick V. via SBTV with Lior GantzReturning SBTV guest, Lior Gantz, shares with us the many reasons to buy silver. Silver is the only commodity (amongst top 30 commodities in the world) that is far below its all time highs.Discussed in this interview:06:05 Investment...Read More
With gold & silver spiking and reports of massive demand, let's see if demand is overwhelming supply at the COMEX & SLV...by Chris Marcus via Arcadia Economics with Harvey OrganWith gold and silver spiking, amid reports of massive amounts of demand into SLV and the other silver ETF's, Harvey Organ was kind enough to join me on the show to share what he's seeing inside the COMEX.Harvey talks about...Read More
Indian domestic prices for secondary steel billet have fallen by 500 rupees ($7) per tonne in the week ended Friday August 9, on account of reduced buying by finished product makers, Fastmarkets has heard.Prices of secondary billet, mainly produced using the induction furnace process, have weakened even although billet mills have reduced their production, according to an official from a billet mil...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
A US District Court's decision to block Hudbay Minerals' Rosemont project, a proposed open-pit copper mine in southern Arizona, overshadowed the company's second-quarter earnings results, executives said in a conference call on Friday August 9."We are deeply disappointed and frustrated by the decision, which appears to overturn decades of settled mining law in the United States," Hudbay interim ch...Read More
Zinc's three-month price on the London Metal Exchange fell by 3% at the close of trading on Friday August 9, dropping its lowest price September 2016, while nickel futures held at newly elevated levels despite a 1.6% decline (over the day?). Turnover across the exchange was fairly light over the day's trading, with nickel volumes leading the complex at just over 10,500 lots exchanged by the close....Read More
Treatment and refining charges for spot copper concentrates trended lower still early in August, with traders placing sharp bids on tendered cargoes and smelters amid continued port disruptions in Peru.The Fastmarkets copper concentrate TC/RC index basis cif Asia Pacific dropped to $49.8 per tonne/ 4.98 cents per lb on August 9 from $50.4/5.04 cents a week ago. The latest value is another record l...Read More
The Chinese zinc industry has been asked to offer responses by mid-September to a government proposal on stricter import thresholds for zinc concentrate despite strong opposition. Under the current standards for zinc, in place since 2006, imported concentrates may contain a maximum of 0.6% arsenic, 0.3% cadmium and 0.06% mercury, according to the Ministry of Finance. The consultation document, iss...Read More
The Chinese domestic alumina price hit a fresh low on Thursday August 8 after falling for 13 consecutive weeks as a result of weaker domestic demand and an oversupplied market. Fastmarkets assessed the price of alumina metallurgical grade, ddp China at 2,380-2,450 yuan ($337-347) per tonne on Thursday, down 22.72% from the May peak of 3,050-3,200 yuan per tonne. Some market participants reported h...Read More