The fall was largely the result of a $504 million impairment on the company's South Africa Energy Coal division.Read More
Recent large-scale production suspensions by antimony producers in central China's Hunan province have partly offset the negative effects of the recent announcement of an auction for the entire antimony stock held in the defunct Fanya Metal Exchange, market sources told Fastmarkets. Fastmarkets assessed the price for antimony, MMTA standard-grade II, ddp China at 36,500-37,500 yuan ($5,168-5,...Read More
No affect in gold and silver price after the FOMC minutes. Traders are still hooked to US-China trade relations, slowdown and central banks bunking US dollar. Federal Reserve policymakers were deeply divided over whether to cut interest rates last month but were united in wanting to signal they were not on a preset path to more cuts. In my view, Trump will start a currency war by forcing Federal...Read More
Cobalt metal prices in China softened this week amid lackluster demand, but tight availability of certain domestic brands of the blue metal has limited the downward move.Fastmarkets assessed the price of cobalt 99.8% Co min, exw China at 260,000-280,000 yuan per tonne ($14.78-15.91 per lb, minus China value-added tax) on Wednesday August 21, widening downward by 10,000 yuan per tonne from 270,000-...Read More
News of a fresh cargo traded out of Europe has broken the silence in the Turkish deep-sea scrap market and confirmed the latest assessments of price levels, sources said on Thursday August 22.A steel mill in Turkey booked a European cargo, comprising 16,000 tonnes of HMS 1&2 (80:20) at $275 per tonne and 4,000 tonnes of bonus at $285 per tonne cfr.This compared with the previous European cargo sol...Read More
(Kitco News) - We have breached the first level, $1,350 an ounce, needed for gold to climb to $3,000, said Dan Oliver, founder of Myrmikan Capital. "There's a lot of pressure into gold, and we've just barely begun this cycle," Oliver told Kitco News. Oliver noted that once gold had broken above $1,350 an ounce, institutional investors started to pay more attention, especially once heavyweight fun...Read More
Cobalt metal prices in China softened this week amid lackluster demand, but tight availability of certain domestic brands of the blue metal has limited the downward move.Fastmarkets assessed the price of cobalt 99.8% Co min, exw China at 260,000-280,000 yuan per tonne ($14.78-15.91 per lb, minus China value-added tax) on Wednesday August 21, widening downward by 10,000 yuan per tonne from 270,000-...Read More
They say Hollywood is to blame.They say producers played it "fast and loose" with the technical details.But even if that were the case, it doesn't change the fact that the 1986 Chernobyl disaster was caused by human error that resulted in nearly 20,000 cases of confirmed thyroid cancer with no real accurate tally of deaths connected to the accident.To put that in perspective, that's more than twic...Read More
European flat steel producers have increased their official offer prices for hot-rolled coil (HRC), but buyers doubt that transaction prices will increase, sources told Fastmarkets on Thursday August 22.Market activity has been slow this week due to the seasonal slowdown. Although market activity traditionally starts to recover in late August-early September, buyers doubt that the rebound in deman...Read More
Chinese steel mills are banking on infrastructure projects to beat the 2019 bear market, although the remaining months of the year are not expected to be as rosy as January-June due to the country's slowing growth rate. "Some sectors have been growing fast enough to bolster demand for some steel producers in the first half of 2019, especially those which supply steel to the infrastructure and heav...Read More
Here is the video summary of the August 21st INK Morning report where we see an important insider signal at Suncor (SU).INK Research and Canadian Insider are both subscriber-supported. We do not accept payments from issuers or promoters for stock coverage.Script (check against delivery):If a stock had grown its earnings per share by 34% in the past year, grown its cash flow per share by 20%, had...Read More
China's spot hot-rolled coil prices rebounded on Thursday August 22 after the release of statistics showing a drop in inventory levels for the flat steel product.DomesticEastern China (Shanghai): 3,700-3,720 yuan ($524-527) per tonne, up 10 yuan per tonneNorthern China (Tangshan): 3,700 yuan per tonne, unchangedSellers were only to sell at around 3,700 yuan per tonne in the morning in Shanghai, wh...Read More
Prices for imported steel reinforcing bar in the United States have continued to decline amid reports of confirmed material purchases from Spain, Turkey and Algeria, with the domestic market steady. Fastmarkets assessed steel rebar, import, cfr Houston, at $580-590 per short ton on Wednesday August 21, down by 2.5% from $590-610 per short ton two weeks earlier.Prices for imported rebar have b...Read More
Daily PDFs will be downloadable until Monday August 26. After that, because of the UK's Summer Bank Holiday, the next daily PDF will be downloadable on Wednesday August 28Read More
The steel billet import price in Egypt fell in the week to Thursday August 22, with market activity limited because buyers want to wait until the court makes a decision on safeguard duties. Egypt's Administrative Court suspended the temporary duties in July, prompting a flurry of court activity, which eventually led to the final session to discuss the matter being scheduled for...Read More
The export market for pig iron from the Commonwealth of Independent States (CIS) was quiet during the week ended Thursday August 22, on holiday absences and the competitive cost of scrap as an alternative.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $330-340 per tonne on Thursday, down from $335-343 per tonne a week before.The Italian...Read More
News of a fresh cargo traded out of Europe has broken the silence in the Turkish deep-sea scrap market and confirmed the latest assessments of price levels, sources said on Thursday August 22.A steel mill in Turkey booked a European cargo, comprising 16,000 tonnes of HMS 1&2 (80:20) at $275 per tonne and 4,000 tonnes of bonus at $285 per tonne cfr.This compared with the previous European cargo sol...Read More
By: Ira EpsteinFOMC minutes thoughts. Gold down on week, off its highs. Daily chart shows distribution, neutral view. Caught in a range: Read More
Gary TanashianMr. Steven Ricchiuto, he of a Masters in Economics from Columbia, has laid out the proper plan for the Federal Reserve in this oh so noisy environment in which an unassuming and fairly quiet man is trying to tune out a personal bully on Twitter, tune out the stock market's daily whipsaw and do what he perceives to be the right thing.Today, the academic named above throws in with Tr...Read More