Velocity is a useless, inconsistent measure of something that has morphed over time yet never had an independent existence of its own. Attempting to predict prices from velocity or velocity from prices is a fool's mission.Continue...Mike "Mish" Shedlock is a registered investment advisor and representative for Sitka Pacific Capital Management. His articles about the the economy and investing onlin...Read More
Coddled investors, not taxpayers, should step up to the plate and fund the "daily cash burn."Continue...Read More
"During the April-June 2020 period of the COVID-19 pandemic, the initial SARS-CoV-2 load steadily declined among hospitalized patients with a corresponding decrease in the percent of deaths over time," Continue...Read More
"Elon Musk, Joe Rogan and Ben Shapiro, to name just a few, are leaving California to escape incompetent governance. The "response" from Sacramento? Wealth and massive income tax increases on job creators Continue...Read More
There's an increasing level of fear both in the US and worldwide. The Fed was looking for the administration to get another fiscal package to help move things forward. Economic data has been relatively benign. In Europe there's fear of another Covid wave. Peter doesn't expect the economy to shut down and he doesn't expect the Congress to do anything either. So it's highly doubtful that another sti...Read More
Portside prices for both low- and high-grade manganese ore in China continued to fall in the week to Friday September 25, after ore traders cut their offer prices further in response to disappointing pre-holiday restocking activity among alloy smelters, market sources told Fastmarkets.Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China, was 34.20 yuan ($5.01) per d...Read More
Here are five Fastmarkets stories you might have missed on Monday September 28 that are worth another look....Read More
Cleveland-Cliffs has reached a definitive agreement to buy ArcelorMittal USA and its subsidiaries for around $1.4 billion, which will make it the largest flat-rolled steel producer in the country, the company said on Monday September 28.The deal included the steel making operations of Indiana Harbor, Burns Harbor, Cleveland, Coatesville, Steelton, and Riverdale, as well as finished steel units Col...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 24 that are worth another look.Brazilian ferrous scrap association Inesfa expects further decreases in export volumes from the levels seen in August, with demand rising among local steelmakers amid a heated steel market, the group's president, Clineu Alvarenga, said...Read More
Here are five Fastmarkets stories you might have missed on Monday September 28 that are worth another look....Read More
Domestic prices for steel hot-rolled coil across Europe continued to rise, but at a slower pace, over the week to Friday September 25, driven by reduced supply from domestic mills and a lack of competitive import offers.Fastmarkets calculated the daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?488.02 ($567.46) per tonne on Friday, up by ?,?1.10 per tonne week on week and by...Read More
The three-month price of zinc on the London Metal Exchange was the standout performer at the close of trading on Monday September 28, rallying during afternoon trading to push firmly above the $2,400-per-tonne threshold.Tin, meanwhile, continued to recover after slipping below nearby support during the morning trading session.Zinc's outright price on the LME closed at $2,432 per tonne on Monday af...Read More
The CIS export market for steel billet has turned quiet at the end of September with a growing difference between mills' offers and customers' bids, Fastmarkets has heard.Mills continued to insist on offers within the range of $415-420 per tonne fob Black Sea on Monday September 28, according to market sources. There was reduced availability of material due to maintenance work at some assets, as w...Read More
Here are five Fastmarkets stories you might have missed on Monday September 28 that are worth another look....Read More
The three-month price of zinc on the London Metal Exchange was the standout performer at the close of trading on Monday September 28, rallying during afternoon trading to push firmly above the $2,400-per-tonne threshold.Tin, meanwhile, continued to recover after slipping below nearby support during the morning trading session.Zinc's outright price on the LME closed at $2,432 per tonne on Monday af...Read More
The three-month copper price on the London Metal Exchange was slightly improved during morning trading on Monday September 28, with price action moving 0.4% higher despite a fresh inflow of just over 30,000 tonnes into LME-registered warehouses in Rotterdam, while tin futures led on the upside with 1.6% increase to trade firmly above the $17,000-per-tonne support level. Copper's outright price on...Read More
The latest forecasts from Fastmarkets' team of base metals analysts are ready to view.Aluminium: SHFE tailwind for LME pricesAs we are entering the traditional strong demand season, we expect Chinese aluminium demand to show further recovery, and we expect demand from existing end-user sectors, new infrastructure projects and the export sector to show some increases. As a result, we believe that S...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.US flat-rolled prices began to recover in August, as we expected. The monthly average of our daily HRC index hit $473 per ton ($521/tonne), which was $3/t above our forecast.The upward momentum has since continued and has done so more quickly than we expected - sentiment has turned around dramatically on fundamental developm...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Prices for hot-rolled coil have performed in line with our expectations over the past month, with US domestic HRC prices finding a floor in July in line with the forecast, before improving in August. US HRC prices averaged $473 per short ton in August, compared with our forecast price of $470 per ton.Our prediction that an i...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.US hot-rolled coil (HRC) prices performed in line with our expectations in August, with US domestic HRC prices finding a floor in July as forecast before they rose in August. US HRC prices averaged $522 per tonne in August, which compares with our forecast price of $518 per tonne. Based on an improving demand outlook and ris...Read More