Hebei, China's largest steelmaking province, will embark on a capacity replacement program this year that would see the removal of 2.5 million tonnes per year of crude steel capacity and 4.44 million tpy of that for the production of iron.The move will involve the installation of converters with crude steel capacity amounting to 13.85 million tpy, and the shutting...Read More

Medicines Company announced successful results for its cholesterol drug, inclisiran The Medicines Company (NASDAQ:MDCO) stock is seeing a huge boost today, after the biopharmaceutical firm announced its experimental drug inclisiran successfully lowered cholesterol in patients with heart disease enrolled in a late-stage trial. SVB Leerink sees the drug's bi-annual injection form as more convenient...Read More

One brokerage firm downgraded PLNT stock to "hold"Berenberg downgraded Planet Fitness Inc (NYSE:PLNT) stock to "hold" from "buy," and slashed its price target to $69 from $80 -- a slight discount to Friday's close at $70.61. In reaction, PLNT stock is down 2.3% in early trading, last seen at $68.99.The equity's longer-term trend has been higher, though, with PLNT up almost 44% since a late-Decembe...Read More

The major Egyptian rebar producers have kept their rebar prices unchanged for orders to be placed in September, market sources told Fastmarkets on Monday September 2.The country's biggest producer, Ezz Steel, is offering rebar at E ?11,890 ($718) per tonne ex-works, Beshay Steel is offering rebar at E ?11,830 per tonne ex-works and El-Marakby Steel's price is E ?11,580 per tonne ex-works. All thes...Read More

SNAP bounced off a key trendline to end AugustWhen we last checked in with Snap Inc (NYSE:SNAP), the social media stock was preparing for its turn in the earnings confessional. Now, the shares are up 1.6% to trade at $16.06 this morning, after Evercore raised its rating on SNAP to "outperform" from "in-line," while boosting its price target to $20 from $18. The analyst in coverage glowed about th...Read More

A new round of U.S. tariffs on Chinese goods went into effect over the weekend Dow Jones Industrial Average (DJI) futures are spiraling this morning, as trade uncertainty swirls after a round of new U.S. tariffs on Chinese goods went into effect over the long holiday weekend. While China filed a complaint with the World Trade Organization (WTO) against these new tariffs, Bloomberg News reported th...Read More

Recent losses in the Chinese ferro-silicon price deepened over the past week in line with persistently softer demand, while the European market was steady, although a lack of buying interest was expected to weigh on prices in the near term. Export price in China drops on weak buying interest while domestic market tracks trendEuropean market under downward pressureUS FeSi prices firm on small trans...Read More

The three-month lead price on the London Metal Exchange showed the greatest losses at the close of trading on Tuesday September 3, falling by some 1.6% to close at its lowest level since August 6.Meanwhile, a steady downturn in nickel's outright price saw it close below $18,000 per tonne.Lead futures began their decent during late in the morning, dipping below the support level at $2,000 per tonne...Read More

Stewart Thomson, Graceland Updates 1. The US yield curve inversion suggests the next recession is about 18-24 months away. That recession could mark the start of a long period of stagflation like 1966-1980.2. Please click here now. Double-click to enlarge this long-term bond market chart.3. Some gold analysts have noted the H&S top pattern in play, but it's important to wait...Read More

Clive MaundThe distinguishing feature of fiat money systems is that they are licentious - they are created by corrupt politicians so that they can act without restraint by, for example, promising the citizens the Earth in order to improve their chances of being re-elected. The population can pick up the tab later in the form of devalued money that buys them less. The current dollar fiat money sy...Read More

StrengthsThe best performing metal this week was platinum, up 8.86 percent. Platinum had its best week since 2011 as haven demand for gold expands to other precious metals. Gold rose to as much as $1,550 an ounce this week due to the escalated U.S.-China trade war. And silver is catching up....Read More

By: Avi Gilburt I am often asked to provide a sample of the analysis I provide to members. So, in this week's article regarding the stock market, I chose to reproduce the general discussion I provided within my analysis posted to members on Saturday night. Please understand that my detailed charts and the discussion of the specific smaller degree analysis is being left out from this public upda...Read More

By: Ira EpsteinGDX - gold stocks looks weaker on the charts than gold does:Read More

The seaborne high-grade manganese ore index fell in the week to August 30, while the low-grade ore market consolidated after falling heavily in the previous week. Seaborne high-grade manganese ore index in China drops Seaborne low-grade cif and fob ore prices range bound Port ore prices drop to encourage buying interest Alloys slide in China, India amid weak demand Alloys stable in Europe, United...Read More

Northern hemisphere summer is over. It has been a golden summer this year. Silver outperformed gold. Some of you were telling me how I was not hyper bullish on silver. My answer is that, I have been an outright silver bull since I started analyzing precious metals in 2003 and will remain bullish on silver till I am alive. However I been scorned by clients, family and friends over the past few ye...Read More

Supply Shocks AheadSubnormal GrowthBond Market InsanityParalyzed BusinessBumpy RideFlorida and a Fire Drill(August 31) We have reached Labor Day weekend which, in the US, is a holiday for honoring work and workers. If you're a Baby Boomer like me, you also grew up knowing school was about to start again. We didn't do the mid-August thing back then. The first day of school was the day after Labor...Read More

Turkish steel producers stayed away from the deep-sea scrap market for a second day this week, with no new cargoes booked on Tuesday September 3, sources told Fastmarkets.No new cargoes have been booked since Tuesday last week when, day on day, prices dropped by $11.55 per tonne. Market participants said they had heard rumors of possible new trades, but wanted to wait until the...Read More

The VIX is showing a pattern reminiscent of its prior peaks"A spokesman for China's Commerce Ministry said Thursday that the U.S. and China remain in communication over possible talks in September and added that Beijing hopes to prioritize discussions about removing the latest tariffs announced by President Trump to prevent a further escalation of the trade war."-- The Wall Street Journal, August...Read More

Here are five Fastmarkets MB stories you might have missed on Tuesday September 3 that are worth another look.Following a flip in global steel and ferrous trade flow trends last year caused by economic jitters in Turkey, trade defenses by the United States and production cuts in China, this year it is steel prices that are turning upside down.The seaborne high-grade manganese ore index fell in the...Read More

Regulus owns the AntaKori copper-gold project in Peru, which currently holds eight billion pounds of copper equivalent.The project is adjacent Tantahuatay and Cerro Corona.The exploration potential looks great and the only issue I see for the project is arsenic content, which is expected to decrease to the north. Introduction Regulus Resources (OTC:OTC:RGLSF) owns the massive AntaKori copper-gold...Read More