Seaborne iron ore prices were largely steady on Wednesday April 15 amid robust port prices and expectations of improving margins for Chinese mills, and despite persistent supply jitters.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $86.86 per tonne, down by $0.16 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.48 per tonne, down by $0.26 per tonne.58% Fe fines high-grade premium, cfr...Read More
Prices in the export market for steel slab from the Commonwealth of Independent States (CIS) have softened in mid-April, with demand limited in the major sales outlets by the effects of the Covid-19 pandemic, resulting in lower bids.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $305-320 per tonne on Tuesday April 14, widening downward by $10 per tonne.Offers...Read More
China's domestic rebar market was mixed on Wednesday April 15 amid fluctuating futures, with prices in the eastern region falling while those in the north picked up. Eastern China (Shanghai): 3,430-3,460 yuan ($486-490) per tonne, down by 40 yuan per tonneNorthern China (Beijing): 3,430-3,460 yuan per tonne, up by 20 yuan per tonne Spot prices in eastern China dropped after rebar futures fell...Read More
The Asian ferrous supply chain is emerging from a slowdown caused by the Covid-19 pandemic ahead of the rest of the world, with demand recovering quicker here than in other regions.Key markets for flat and semi-finished steel as well as ferrous scrap in Asia are seeing prices being supported.This is in line with projections made by the International Monetary Fund about how emerging and developing...Read More
Energy Fuels believes its uranium and vanadium mill can play a key role in bringing the REE supply chain back from China. White Mesa MillIn a news release, Energy Fuels Inc. (EFR:TSX; UUUU:NYSE.American) announced that it plans to process rare earth elements (REEs) ore at its White Mesa Mill, not mine or produce REEs, while continuing its primary business of uranium mining and production. The com...Read More
Roxgold reported PEA data for its S?gu?la Gold project in C?te d'Ivoire indicates an after-tax NPV of $268 million with a 66% IRR based upon a $1,450/oz gold price. In a news release, Roxgold Inc. (ROXG:TSX) announced "the results of a Preliminary Economic Assessment (PEA) for the high-grade S?gu?la Gold project in C?te d'Ivoire." Roxgold noted that the PEA, which was prepared in accordance with...Read More
Ely Gold Royalties holds a second royalty on the same Nevada property in the Carlin Trend. In a news release, Ely Gold Royalties Inc. (ELY:TSX.V; ELYGF:OTCQB) announced it closed its transaction with a private seller to acquire a 3.5% net profits interest in the Ren property in Nevada for $500,000 in cash.The closing of this deal gives Vancouver-based Ely Gold a second royalty interest in the Ren...Read More
James Kwantes, editor of Resource Opportunities, outlines the potential upside as this project generator moves forward on its property in the Yukon.Well-run project generators are brick houses in a speculative corner of the market, where the winds of commodity prices and dilution are often house wreckers. Their share prices are typically backstopped by healthy treasuries, royalties and equity stak...Read More
Prices for hollow steel sections in Europe were unchanged this week because trading activity failed to revive after the Easter weekend break, sources told Fastmarkets on Wednesday April 15.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?590-610 ($646-668) per tonne on Wednesday, unchanged week on week.Last week, it was reported that mil...Read More
Oil futures settled at their lowest since 2002The Dow finished the day with a nearly 450-point loss, and down more than 700 at its session lows, with disappointing bank earnings and COVID-19-related economic headwinds weighing heavy. The Nasdaq andS&P 500 also finished in the day in the red, as investors unpacked the Empire State Manufacturing Index's record-low reading of -78.2. Doubt also crept...Read More
JD just reached a strategic deal with AI-specialist Blue Yonder China-based e-commerce giant JD.Com Inc (NASDAQ:JD) is set for its highest close in over two years this afternoon, up 2.7% at $45.05, after reaching a strategic agreement with artificial intelligence (AI) specialist Blue Yonder, Inc. The two parties plan on working towards providing supply chain transformation solutions for retailers...Read More
Bed Bath & Beyond is expected to post earnings after market close todayThe shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) are down 15.9% today, last seen trading at $4.52. This comes just ahead of the tech name's fourth-quarter earnings report, which is due out after the market close today. Below, we'll dive deeper into BBBY's earnings history, and why options traders should brace for a larger-tha...Read More
A short squeeze could fuel additional gains Household cleaning company Clorox Co (NYSE:CLX) has been a high-profile name amid the coronavirus outbreak. CLX is up 20% in 2020, and more than 10% since the broad-market top on February 19. Despite this outperformance, there's still a great deal of skepticism to be unwound and keep the wind at the stock's back. For starters, the brokerage bunch skews b...Read More
Oil prices are plummeting today tooThe Dow Jones Industrial Average (DJI) has reversed course from yesterday's gains and is down over 600 points at midday. Today's fall comes as subpar economic data and less-than-stellar bank earnings add to the concern surrounding the coronavirus' economic impact. The S&P 500 (SPX) and Nasdaq Composite (IXIC) are also sharply lower, as investors also unpack...Read More
Teledoc announced preliminary first-quarter revenue that exceeded expectations Teladoc Health Inc (NYSE:TDOC) this morning announced preliminary first-quarter revenue between $180 and $181 million, exceeding analysts estimates. The expected revenue spike is due in large part to a massive coronavirus-related surge in demand, with the company adding that virtual visits in the U.S. are now exceeding...Read More
Recent shifts in the markets suggest gold prices are about to breakout in the same manner as they did over the summer last year.The price of gold is a small distance away from the March highs ahead of the North American open on Monday and a fresh seven-year high looks to be probable.Many factors impact the price of gold but there are few specific things that I am looking at that lead me to believe...Read More
GS is still up 11% in AprilEarnings season is here, and first up to bat are the big-name bankers. Goldman Sachs Group Inc (NYSE:GS) is down 4.6% to trade at $170 this morning, after the investment banking company reported adjusted first-quarter earnings of $3.11 per share, lower than Wall Street's estimated $3.35 per share and a 49% drop year-over-year. Though revenue was higher, it was outweighed...Read More
The stock market has been acting as though truckloads of oral vaccine will show up on supermarket shelves by the weekend. Of course, we know better than to attribute the robust uptrend of the last two weeks to careful or even rational calculation. The market after all is not a thinking creature, just a dumb beast that has been annoyed by a swarm of flies, or excited by pheromones washing over th...Read More
Insignia Consultants New DelhiWednesday, April 15, 2020TIME 7:27 AM IST -------------------------------------------------------------------------------------------------------------------...Read More
Piper Sandler upgraded General Mills to "overweight" from "neutral" Packaged food producer General Mills, Inc. (NYSE:GIS) is up 1% at $59.41 after Piper Sandler upgraded the equity to "overweight" from "neutral" and lifted its price target to $67 from $59. The analyst said General Mills' recent retail trends and limited exposure to the foodservice space indicates that it is well positioned to outp...Read More