The stock market will close at 1 p.m. ET todayThe holiday-shortened week started with another record close, and Dow Jones Industrial Average (DJI) futures are set to add more gains this morning. The S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also on pace for positive opens today, although the news slate is bare and trading volume is likely to be low, with markets closing at 1 p.m. ET fo...Read More
Support remains at the 20-day moving averageSoftware name Sea Ltd (NYSE:SE) has more than tripled in 2019, and over the last few months have been on a steady trend higher. With a layer of support embedded in the rising 20-day moving average and the peak call open interest expiring at the December 40-strike, now looks like the perfect opportunity to bet on SE's next leg higher. In the options pit...Read More
"$OXM - Oxford Industries Hoping For Better Gains This Year. Follow this and any other stock on Seeking Alpha! https://t.co/xK0bmNJvlO #economy #finance #business"Read full newsRead More
Not only are gold fundamentals excellent, dollar fundamentals help...Read full newsRead More
Not only are gold fundamentals excellent, dollar fundamentals help...Read full newsRead More
The China Solid Waste and Chemicals Management Bureau will allow up to 275,465 tonnes of aluminium scrap shipments into the country in the first batch of import quotas for 2020. The volume is significantly higher than for December, which was set at 9,844 tonnes of aluminium scrap - down from 13,770 tonnes in the previous quota. This, in turn, was less than the 44,935 tonnes issued in October....Read More
Zinc was the worst performer at the London Metal Exchange 5pm close on Monday December 23, while the other base metals consolidated in quiet market conditions. The three-month zinc price closed 2% lower at $2,291 per tonne, due to weak fundamentals triggering a sell-off. The metal has been retreating after it failed to stabilize above $2,300 per tonne last week. "The stronger than expected sell-o...Read More
Recylex has placed three companies including German primary smelter Weser-Metall up for sale, with the European lead producer forced to offload assets to reduce outstanding debts of ?,?200 million ($221.4 million)."The group is working on the disposals of PPM Pure Metals GmbH, for which it has already received expressions of interest, Norzinco GmbH and Weser-Metall GmbH," it said in a statement la...Read More
Recylex has placed three companies including German primary smelter Weser-Metall up for sale, with the European lead producer forced to offload assets to reduce outstanding debts of ?,?200 million ($221.4 million)."The group is working on the disposals of PPM Pure Metals GmbH, for which it has already received expressions of interest, Norzinco GmbH and Weser-Metall GmbH," it said in a statement la...Read More
Jack ChanPosted Dec 23, 2019Gold sector as represented by $HUI is on a long-term BUY 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 sell signal.Short-term signals can last for weeks and are more suitable for traders.Speculation remains high despite the recent pullback.Speculation is at a reasonable level to res...Read More
China imported 210,000 tonnes of alumina from the seaborne market in November, down from 240,000 tonnes in October, butconsiderably higher than the 150,000 tonnes shipped in September when the import arbitrage window opened, according to Chinese customs data released on Monday December 23.China imported a total of 1.24 million tonnes of alumina from January to November, up 170% from the 460,0...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday December 20. Europe Key drivers European silicon spot prices continued momentum from previous weeks. The metal is closing the year in a positive mood after constant falls in the second and third quarters of 2019. Trading has slowed slightly down ahead of the holiday but European sources...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday December 20.ChinaKey drivers The price of antimony, MMTA standard grade II, ddp China, continued to drop for the seventh consecutive week in the latest assessment period ended Wednesday December 18, as suppliers cut offer prices further amid scant buying interest.Some suppliers lowered prices in an effort to sell off stock...Read More
The China Solid Waste and Chemicals Management Bureau will allow up to 275,465 tonnes of aluminium scrap shipments into the country in the first batch of import quotas for 2020. The volume is significantly higher than for December, which was set at 9,844 tonnes of aluminium scrap - down from 13,770 tonnes in the previous quota. This, in turn, was less than the 44,935 tonnes issued in October....Read More
The ferrous scrap market in the United States might be calmer in 2020, with metals recyclers potentially facing less volatility and price declines than in 2019, which could present a unique set of opportunities for buyers and sellers.Market participants do not expect the steep decline in prices that characterized the market in 2019 to reoccur due to the extent of that drop. Fastmarkets' asses...Read More
Turkish domestic auto bundle scrap prices continued to push up this week in line with rising imported scrap values, sources said on Monday December 23.Two steel mills raised their buy prices for auto bundle scrap by 60 Turkish lira ($10) per tonne in response to the rising imported scrap costs.Fastmarkets' daily index for steel scrap, HMS...Read More
The European Commission (EC) is planning to again review its safeguard measures for hot-dipped galvanized (HDG) flat steel destined for the automotive sector, market sources told Fastmarkets this week.In the definitive measures for metallic-coated sheets (product category 4), the EC split the product category into two sub-categories, 4A and 4B, with the automotive sector mainly consuming...Read More
The export market for hot-rolled coil and cold-rolled coil from the Commonwealth of Independent States was strong ahead of the holiday period, sources told Fastmarkets on Monday December 23.Fastmarkets' weekly price assessment for steel HRC, export, fob Black Sea was $460-475 per tonne on Monday, widening upward from $460-470 per tonne a week earlier.Offers for Russia-origin HRC were heard at...Read More
Overcapacity in the global steel sector has been an issue for many years, but has intensified in the recent years, according to Ankur Dana, chief executive officer of Dubai-based multinational Dana Group .Global overcapacity causes steel prices to fall, so governments should only approve new capacities if there is need, Dana said at Fastmarkets' Middle East Iron and Steel Conference in Dubai on De...Read More
Import prices for rebar in Singapore edged up over the past week amid a further strengthening of the ferrous scrap market upstream.The weekly Fastmarkets price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $445-450 per tonne for the week to Monday December 23, narrowing upward by $5 per ton...Read More