The has Dow bounced back after this morning dropThe Dow Jones Industrial Average (DJI) was initially dragged lower this morning by Boeing (BA) -- down on news of another fatal crash -- and Walgreens Boots Alliance (WBA), which is selling off after earnings. The Dow is now trading higher with the S&P 500 Index (SPX) and Nasdaq Composite (IXIC), with the latter two hitting record highs, as investor...Read More

BA has sunk 3% over the past 12 monthsIt's another nail in the coffin for Boeing Co (NYSE:BA) this morning -- the equity down 1.3% at $333 -- after reports surfaced that a Boeing 737-800 operated by Ukraine International Airlines crashed in Tehran this morning, leaving no survivors. Downing just minutes after take-off, speculations of engine failure are circling as the potential catalyst. Nine cre...Read More

RBC lifted its price target to $285 from $267Biopharmaceutical concern Biogen Inc (NASDAQ:BIIB) is slightly lower today, despite joining Behind the Seizure, along with a number of other companies, which works to provide faster diagnosis to children under eight with epilepsy. In addition to this, RBC lifted its price target to $285 from $267, which is still a slight discount to last night's close....Read More

BYND gained 12.5% yesterday after Impossible Foods and McDonald's stopped supply talksThe shares of Beyond Meat Inc (NASDAQ:BYND) are up 1% to trade at $84.76 this morning, after McDonald's (MCD) announced it was expanding the test of the former's plant-based burger in Canada. More specifically, the golden arches will now offer BYND's vegan burger in 52 outlets across southwest Ontario, up from 2...Read More

The strike against a U.S. airbase was not as bad as originally feared U.S. stock futures are mixed this morning, as investors attempt to digest a slew of global and domestic headlines. Last night's report that a U.S. airbase came under fire in western Iraq sent overnight trading into a tailspin. Investor fears eased, however, as news surfaced that the attacks did not cause any casualties and no oi...Read More

Data shows 2020 could be bullish for stocks2019 was a historic year in which the S&P 500 Index (SPX) gained nearly 30% with exceptional daily consistency (more on that below). The year's 28.9% return ranks second out of the last 20 years with 2013 (up 29.6%) being the only year that was more bullish. This week I'll look at some of these 2019 stats and see if stocks tend to revert to the mean follo...Read More

Tuesday saw Red Rock Resources (LSE:RRR) highlight the news that Jupiter Mines has made major inroads into the expansion of its Tshipi Borwa manganese mine...Read full newsRead More

"Who cares about the gold and oil price right now? Prayers for the world especially the people/families directly involved."Read full newsRead More

"Who cares about the gold and oil price right now? Prayers for the world especially the people/families directly involved."Read full newsRead More

A summary of base metals premiums from across the globe for the week to Tuesday January 7.Click on...Read More

The three-month zinc price on the London Metal Exchange climbed by 1.3% by the close of trading on Tuesday January 7, topping gains in the complex amid moderately low turnover across the board, while the aluminium price shed 1% of over the afternoon. Zinc's outright price on the LME closed at $2,346 per tonne this afternoon, its highest closing price since November 18, 2019. Despite low turnover o...Read More

Former London Metal Exchange chief executive Garry Jones has been appointed chief executive officer of technology provider Perfect Channel, effective January 1, the company said. Jones, who joined Perfect Channel as a director in September 2019, will now seek to deliver a strategic business plan to work with a variety of partners across multiple asset classes, focusing on financial institutions, c...Read More

Fastmarkets has relaunched its ores and alloys cuts counter to track widespread production cutbacks amid the current low prices.A number of ores and alloys prices were at multi-year lows due to oversupply.Chrome ore and ferro-chrome prices were particularly subdued, prompting a series of production cuts while producers also dealt with rising costs.Fastmarkets' price assessment for ferro-chrome, 50...Read More

The Turkish deep-sea scrap import markets were relatively quiet on the second day of the working week, with the mills still in negotiations for February cargoes, sources said on Tuesday January 7.The steel producers in the country had been silent in the deep-sea markets over the past two weeks because of the year-end holiday periods. They resumed their purchases at the end of last week with four c...Read More

Japan is expected to divert more of its ferrous scrap export supply to Vietnam and Bangladesh in 2020 due to weaker demand from neighbor South Korea, market sources in Japan told Fastmarkets."South Korean demand for ferrous scrap is expected to fall further in 2020 compared with 2019, and Japanese scrapyards will have to target new markets to send their materials," a Japanese trader told Fastmarke...Read More

Steel-consuming sectors in Mexico should receive a boost from a gradual recovery in the Mexican economy this year, with optimism among participants in the scrap market slowly growing as a result.The country's gross domestic product (GDP) is expected to grow by 1.2% in 2020, according to the International Monetary Fund (IMF), although more recent forecasts from economists have been lower."We foreca...Read More

Some flat steel import prices in the United Arab Emirates and Saudi Arabia increased this week on higher offers, but demand was still weak because of the continuing New Year holidays in global markets, sources told Fastmarkets on Tuesday January 7.UAEOffer prices for hot-rolled coil (HRC) from China were heard in the UAE at $500-510 per tonne cfr this week, while Indian HRC was offered at $520-525...Read More

Demand for flat steel products in Turkey was strong in December 2019 because of restocking purchase activity as well as globally increasing prices, market participants told Fastmarkets on Tuesday January 7.Local producers have now filled their order books until late March, sources added.Demand was strong in Turkey in November because of the rising prices, and continued to be strong in December.And...Read More

This year could look similar to 2019 on the merger and acquisitions front in the United States steel industry, with long products likely to be busier than flat products, according to analysts."People will get to doing deals [in 2020] much like [last] year - very selectively and where the strategic fit is right and they can bring some synergies to the table. I think that's what is really going to d...Read More

Here are five Fastmarkets MB stories you might have missed on Tuesday January 7 that are worth another look.Alexander Shevelev, chief executive officer of Russian steelmaker Severstal, says that the company has changed its culture quite quickly and substantially to focus on being a solutions provider.Brazilian vehicle output shrank by 3.9% year on year during December 2019, because higher domestic...Read More