In my latest Howe Street interview with Jim Goddard I assess the likelihood that we are heading into a recession. While we may not be there yet, I explain that insider sentiment in the US Industrials sector is flashing a warning sign.I also highlight how we have relatively bleak outlooks on Canada's two major railway stocks, noting insider selling has been taking place even as the companies have...Read More
"$BDSI - BioDelivery Sciences International, Inc. (BDSI) CEO Herm Cukier on Q4 2018 Results - Earnings Call Transcript https://t.co/HtJVJyhev7"Read full newsRead More
Gary Goldberg tells Barron's that he's glad to have the partnership in the works and feels optimistic about the coming vote on its Goldcorp deal.Read full newsRead More
Canada is in danger of losing its global dominance in mining, despite recent government initiatives to improve competitiveness, according to a report from an industry association.Read full newsRead More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average ended up slightly Thursday. Earlier in the session the blue-chip index had fallen on a report saying President Donald Trump was in no rush to complete a trade pact with China, but Trump and Treasury Secretary Steven Mnuchin said discussions with China were progressing quickly. Social media company Snap Inc. (...Read More
The prices for nickel and copper were the poorest performers in trading on the London Metal Exchange on Thursday March 14, Fastmarkets has heard.Weaker data on China's industry drove the LME three-month nickel price down by 2.2% to $13,185 per tonne at the close of trading."The January-February combined data on Chinese industrial production, retail sales and fixed asset investment failed to provid...Read More
BCS Global Markets, one of Russia's largest securities brokers, believes that Russian oligarch Roman Abramovich's newly-acquired shareholding in Russia's largest miner Nornickel may lose value.Abramovich's investment firm Crispian Investments acquired the 2.5% stake for $551 million on Wednesday March 13.But the oligarch's share may depreciate in value in line with expectations that nickel prices...Read More
Fastmarkets' alumina index fob Australia moved above $400 per tonne and to its highest since mid-December 2018 following increased buying demand in the market and continued tight supply. The daily fob Australia alumina index rose to $402.70 per tonne on Thursday March 14, up from $396.92 per tonne the previous day and 3.5% higher week on week. Key drivers Renewed bullish sentiment in th...Read More
An elevated level of corporate debt, along with the high level of U.S. government debt, is likely to mean that the U.S. economy is much more interest rate sensitive than it has been historically. - Robert Kaplan, President of the Dallas FedFed officials always understate risks embedded in the system. Translated, the statement above implies the Fed is worried about the amount of debt accumulated in...Read More
Fastmarkets' alumina index fob Australia moved above $400 per tonne and to its highest since mid-December 2018 following increased buying demand in the market and continued tight supply. The daily fob Australia alumina index rose to $402.70 per tonne on Thursday March 14, up from $396.92 per tonne the previous day and 3.5% higher week on week. Key drivers Renewed bullish sentiment in th...Read More
Backers of Freepoint Commodities have given the merchant trader approval to make further long-term investments in copper assets, the firm's commodities strategist, David Wilson, said at the International Copper conference in Amsterdam on Wednesday March 13. "Internally I can see that there is more appetite for us to invest in copper assets as well as trading. There's definitely a change in sentime...Read More
South African state power utility Eskom has implemented load shedding for the first time this month amid lingering power constraints, sparking predictions of ferro-chrome price spikes if the situation deteriorates. Load shedding - controlled power outages - were last implemented in mid-February and were reported to have affected large industrial power users, including ferro-chrome smelters. After...Read More
Exchanges have an important role to play in the growing push for the use of Environmental, Social and Governance (ESG) criteria in investing, the chief executive officer of the London Metal Exchange said. Matthew Chamberlain said that the lack of a global regulatory body policing ESG criteria meant that sometimes it falls to exchanges and other market infrastructure players to step up and use thei...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
UK ferrous scrap prices for deliveries in March have been settled at values unchanged from the month before, with higher export prices and steady domestic British demand supporting the move, trade sources told Fastmarkets on Thursday March 14.The sideways moves in UK prices consolidate a jump of ?20 per tonne in February. This came after European export prices to key destination Turkey rallied by...Read More
Turkish steel producers have continued their bookings of deep-sea scrap cargoes with prices remaining stable, sources said on Thursday March 14.A steel mill in the Marmara region booked a European cargo, comprising 25,000 tonnes of HMS 1&2 (75:25) at $317 per tonne and 5,000 tonnes of bonus at $331 per tonne cfr.The same mill...Read More
Import prices for steel billet in Southeast Asia moved up on Thursday March 14, amid an uptick in trading activity and higher scrap values, market participants said.Fastmarkets' daily import price assessment for billet in Southeast Asia was $485-495 per tonne cfr Manila on Thursday, up $5 per tonne from $480-490 per tonne cfr on Wednesday. Numerous deals involving Malaysian billet were concluded i...Read More
The United States copper market failed to hold onto previous gains during morning trading on Thursday March 14, with weaker-than-expected Chinese data capping the base metals space.The copper price for May settlement on the Comex division of the New York Mercantile Exchange dipped 4.30 cents to $2.8925 per lb. Data released by China's National Bureau of Statistics (NBS) at around 10am Shangha...Read More
Three-month base metals prices on the London Metal Exchange were mixed this morning, Thursday March 14, with copper, nickel, lead and zinc down by an average of 0.4%, while lead and tin were up by 0.1% 0.4% respectively.Three-month copper was recently quoted at $6,444 per tonne, down by 0.3% compared with Wednesday's close at $6,466 per tonne.Volume was below average, with 5,913 lots traded on LME...Read More
The Thursday Market Minute Wall Street futures suggest modest declines in cautious Thursday trading amid reports of a delay in the planned trade summit between Presidents Trump and Xi.European stocks hit a five-month high after UK lawmakers vote to remove "hard Brexit" risk, but significant uncertainty over the government's next steps, and today's vote on a Brexit extension, keep gains in c...Read More