Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average turned lower on Monday as U.S. trade talks with China were set to resume. The index rose 0.2% last week and has risen for seven straight weeks.Restaurant Brands International Inc. (QSR) posted stronger-than-expected fourth-quarter earnings and boosted its 2019 dividend target to $2 a share. The...Read More
Zinc's three-month price on the London Metal Exchange fell at the close of trading on Monday February 11, hampered by broad strength in the dollar index while low LME inventories failed to limit downward price action. The three-month zinc price has also fallen by 6% since reaching a July 2018 high of $2,800 per tonne last week. Since then, open interest in zinc has dwindled by more than 11% from a...Read More
The price of copper in the United States began the week trading in negative territory, with a strong dollar and a lack of news about the US-China trade talks weighing on the base metals complex.The copper price for March settlement on the Comex division of the New York Mercantile Exchange declined by 1.10 cents per lb to $2.79 per lb.Chinese market participants have returned from their week-long L...Read More
Base metals prices on the London Metal Exchange were predominantly lower during morning trading on Monday February 11, with nickel the only metal to trade in positive territory, while continued strength in the dollar index fuels selling momentum. Chinese market participants have returned from their week-long Lunar New Year break. Yet despite a return of Chinese stimulus resulting in higher volumes...Read More
Jack ChanPosted Feb 11, 2019Gold sector as represented by $HUI is on a long-term sell signal.Long-term signals can last for months and are more suitable for investors.Gold sector as represented by $HUI is on a short-term buy signal.Short-term signals can last for weeks and are more suitable for traders.GDX – our gold stock ETF has confirmed bottoms with breakouts.The trend is up.Our gold ETF...Read More
Manganese ore prices increased over the past week when producers raised their offer prices while market participants in China were celebrating the Lunar New Year holiday. Low-grade ore prices tick upward High-grade ore prices weaken slightly Manganese alloy prices hold in India, Europe US alloy prices soften despite uptick in SiMn activity.Manganese ore prices rose on Friday February 8 because of...Read More
High manganese ore prices since 2017 have enabled South African manganese miner Tshipi to generate significantly higher cashflow than expected, allowing for dividends in excess of the initial capital cost to develop the mine.For the second half of 2019, Tshipi has declared a dividend of 1.1 billion rand, its owner - Jupiter Mines - has announced. The mine will continue to produce 3 million tonnes...Read More
High manganese ore prices since 2017 have enabled South African manganese miner Tshipi to generate significantly higher cashflow than expected, allowing for dividends in excess of the initial capital cost to develop the mine.For the second half of 2019, Tshipi has declared a dividend of 1.1 billion rand, its owner - Jupiter Mines - has announced. The mine will continue to produce 3 million tonnes...Read More
The European antimony market was quiet in the week ended Friday February 8, with Chinese market participants still away for the Lunar New Year holiday.Fastmarkets' price assessment for trioxide-grade antimony, in-warehouse Rotterdam, was stable week on week on Friday at $7,800-8,000 per tonne.The price for MMTA standard-grade II antimony, in-warehouse Rotterdam, was also unchanged on February 8 at...Read More
The Turkish deep-sea scrap import markets remained steady in the latest deals heard at the beginning of this week, sources said on Monday February 11.The most recent transaction was for a Canadian cargo, sold to a steel mill in the Iskenderun region, comprising 25,000 tonnes of shredded at $338 per tonne and 25,000 tonnes of HMS 1&2 (90:10) at $336 per tonne cfr.Using those prices as a guide, most...Read More
Turkish domestic scrap prices have continued to increase in line with the rise in the costs of imported deep-sea scrap and domestic finished steel, sources said on Monday February 11.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) scrap in Turkey was TRY1,660-1,810 ($316-344) per tonne delivered on February 11, rising from TRY1,595-1,690 per tonne last week.The steel mill...Read More
Import prices for rebar in Singapore are likely to increase significantly in the near term following surges in steelmaking raw material prices, market sources told Fastmarkets MB. Market participants expect major rebar producers to increase their offers to Singapore buyers on rising ferrous scrap and iron ore prices.New offers for containerized heavy melting scrap 1&2 (80:20) into Taiwan are expec...Read More
The price of copper in the United States began the week trading in negative territory, with a strong dollar and a lack of news about the US-China trade talks weighing on the base metals complex.The copper price for March settlement on the Comex division of the New York Mercantile Exchange declined by 1.10 cents per lb to $2.79 per lb.Chinese market participants have returned from their week-long L...Read More
China's return to the market after a week-long break for Lunar New Year has not brought with it a rush to restock and that has led to some disappointed selling across the base metals traded on the London Metal Exchange, with the complex down by an average of 0.9% this morning, Monday February 11.The three-month zinc price led the decline with a 2% drop, while the three-month tin price was down by...Read More
The Monday Market Minute Global stocks mixed as U.S.-China trade talks resume this week in Beijing and investors eye developments in the final week of the corporate earnings season.China stocks rise on the first day of trading after last week's lunar holidays, with data showing retail earnings rose 8.5% from last year, the slowest pace in a decade that underscored weakness in the consumer e...Read More
Manganese ore prices increased over the past week when producers raised their offer prices while market participants in China were celebrating the Lunar New Year holiday. Low-grade ore prices tick upward High-grade ore prices weaken slightly Manganese alloy prices hold in India, Europe US alloy prices soften despite uptick in SiMn activity.Manganese ore prices rose on Friday February 8 because of...Read More
Cobalt buyers held back as much as they could last week as prices continued to fall, with good availability of cut cathode creating the expectation that cheaper prices will still be available in the coming weeks."There's still a lot being offered - it's just relentless. It's a massive buyers' market," a trader source said. Fastmarkets' benchmark standard-grade cobalt price assessment stood at $17....Read More
Buyers in the export market for flat steel from the Commonwealth of Independent States (CIS) have accepted high offers from suppliers on further price growth expectations, sources told Fastmarkets on Monday February 11.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) spiked to $500-510 per tonne fob Black Sea on February 11, up from $460-480 per tonne a week ago...Read More
Turkey's biggest steel producer, Erdemir Group, reported earnings before interest, taxes, depreciation and amortization (Ebitda) for 2018 of TRY8.302 billion ($1.579 billion*), up 52.24% from TRY5.453 billion for 2017. The group sold 7.482 million tonnes of flat steel products in January-December 2018, down by 1.47% from the 7.594 million tonnes sold in 2017, it said last week. The increase in ear...Read More
Iron ore futures in China surged on Monday February 11, with the most-traded contract opening 8% above the last settlement price with the return of Chinese market participants from a week-long break.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,870 yuan ($574) per tonne, up 40 yuan per tonneMay hot-rolled coil: 3,757 yuan per tonne, up 38 yuan per tonneDalian Comm...Read More