In just a little more than a week after the mighty Newmont-Goldcorp merger was finalized, the company suspended operations of its largest gold-silver mine in Mexico.The blockade was started due to issues with the local community in regards to water supply concerns and problems with a trucking contractor.It will be interesting to see how the future unfolds for Penasquito with the new anti-mining Pr...Read More
Disney's second feature adaptation of one of its classic tunes this year, Aladdin, hit tracking today with a combination of industry and tracking projections betting $70M-$90M over four-days....Read full newsRead More
"$AEL - American Equity Investment Life Holding Co. (AEL) CEO John Matovina on Q1 2019 Results - Earnings Call Transcript https://t.co/CL4PIqUU0F"Read full newsRead More
Adam HamiltonArchivesMay 03, 2019 These record US stock-market levels are very dangerous, riddled with extreme levels of euphoria and complacency. Largely thanks to the Fed, traders are convinced stocks can rally indefinitely. But stock prices are very expensive relative to underlying corporate earnings, with valuations back up near bubble levels. These are classic topping signs, with profits grow...Read More
Keith WeinerPosted May 3, 2019Thebid-ask spread of both (spot) gold and silver has blown out. Both, on March 1.(Click on image to enlarge)In gold, the spread had been humming along around 13 cents—gold is the most marketable commodity, and this is the proof, a bid-ask spread around 1bps—until… *BAM!* It explodes to around 35 cents, or two and half times as wide. On the same day,...Read More
TheWhite House and Congress finally agreed to put their significant differencesaside and work together on something constructive, no pun intended. OnWednesday it was announced that President Trump and Democratic congressionalleaders plan to spend $2 trillion on US roads, bridges, powergrids, water and broadband infrastructure -bricks and mortar priorities that are sorely underfunded in both the Un...Read More
Russia has criticized Mexico at the World Trade Organisation (WTO) for maintaining anti-dumping duties on Russian steel exports, which it claims are outdated, being based on pricing assessments using data from a different country.The Mexican government used this method for past dumping calculations on Russian steel because it is permitted under WTO rules where a government dominates an economy tha...Read More
UK long steel producer British Steel has been granted approval from a French court to take over troubled French special steelmaker Ascoval, the company said on Thursday May 2.Following the approval from the tribunal de grande instance (TGI) in Strasbourg, Ascoval, which is located in Saint-Saulve, Northern France, will officially become part of British Steel on Wednesday May 15 and will be renamed...Read More
While 2016 and 2017 each had a single, clear factor that drove up seaborne coking coal prices, this was a key feature that was missing last year, when the market continued to strengthen regardless.And if the first few months of 2019 are anything to go by, the seaborne coking coal market might have just reached a new level of complexity.When China decided to tackle overcapacity in its coal sector i...Read More
Fastmarkets MB proposes to launch a weekly price assessment of South America import aluminium-zinc alloy coated steel coil, reported on a dollar-per-tonne cfr South America basis.Market participants have been reporting significant liquidity in this market, with steady volumes being traded weekly.Based on the most widely traded product specification, the weekly price assessment for S...Read More
The pig iron market in the United States was under pressure from lower prices for high-phosphorous material from Brazil, while supplies of low-phosphorous material continued to be restricted, Fastmarkets heard on Friday May 3."The only thing really dragging pig iron [prices] down is the weak domestic [pig iron] market in Brazil and the lack of markets for high phosphorous material," one buyer in t...Read More
The dip in tin prices over the past two months reflects technical factors and a drop in semiconductor sales but a rebound is hard to envision despite an largely solid fundamental backdrop.Weakness in the global semiconductor sector has contributed to an 11% drop in the LME three-month tin price since mid-April - the sharpest fall across the base metals.The three-month price fell just 2.9% in 2018...Read More
Aluminium's three-month price on the London Metal Exchange fell over 1% at the close of trading on Friday May 3, with downward pressure emerging amid more than 230,000 tonnes of inflows over the week, while continued US dollar strength deters investors. Aluminium registered just over 10,000 lots traded at the close this afternoon, the lowest count since April 25, with thin volumes persisting due t...Read More
This recent drop in copper prices is not reflective of the current tight supply and demand fundamentals and a rebound could take place as soon as next week, Codelco's chief commercial officer Roberto Ecclefield told Fastmarkets on Friday May 3."Once China re-opens on Monday, we should see copper prices rebound," Ecclefield said in an interview. "The current price doesn't reflect fundamentals."Mark...Read More
The dip in tin prices over the past two months reflects technical factors and a drop in semiconductor sales but a rebound is hard to envision despite an largely solid fundamental backdrop.Weakness in the global semiconductor sector has contributed to an 11% drop in the LME three-month tin price since mid-April - the sharpest fall across the base metals.The three-month price fell just 2.9% in 2018...Read More
Global ferrous scrap prices trended downward in the week ended Friday May 3 due to low demand and high inventories held by steel mills.There was mixed sentiment about spot price trends. While most market participants expected a continued softening of prices, others expected prices to become firmer once holidays in Europe, Turkey, Japan and China came to an end. Weak steel markets in Turkey damp de...Read More
Key data from the Friday May 3 pricing session in London: Key drivers: - Rally pauses and spot activity slows; buyers in Europe and parts of Asia were out of the market for some of the week. Some buyers are believed to have covered their nearby requirements last month and are awaiting direction before stocking up any further after the rally plateaued over the past week. - Sellers have so far prove...Read More
Aluminium's three-month price on the London Metal Exchange fell over 1% at the close of trading on Friday May 3, with downward pressure emerging amid more than 230,000 tonnes of inflows over the week, while continued US dollar strength deters investors. Aluminium registered just over 10,000 lots traded at the close this afternoon, the lowest count since April 25, with thin volumes persisting due t...Read More
An overview of the battery raw materials markets and their price moves.Read More
This recent drop in copper prices is not reflective of the current tight supply and demand fundamentals and a rebound could take place as soon as next week, Codelco's chief commercial officer Roberto Ecclefield told Fastmarkets on Friday May 3."Once China re-opens on Monday, we should see copper prices rebound," Ecclefield said in an interview. "The current price doesn't reflect fundamentals."Mark...Read More