Here are five Fastmarkets stories you might have missed on Monday May 4 that are worth another look.Flat-rolled steel import prices were mostly stable week on week in South America on Friday May 1, after deals became scarce and negotiations for June-shipment cargoes finished with low interest from clients.The European Commission's (EC) antitrust authorities granted Europe's largest copper smelter...Read More
Last week's weaker tone in the metals has flowed through into morning trading on Monday May 4, with the three-month base metals on the London Metal Exchange down by an average of 0.6%, led by a 0.9% fall in copper to $5,061 per tonne. With Japan and China closed trading volumes are thin.Market participants likely to focus on European purchasing manager's index (PMI) data and US factory orders. Bas...Read More
Today is Monday, May 4, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of Pembina Pipeline Corporation (NYSE: PBA), Montage Resources Corporation (NYSE: MR), and Earthstone Energy (NYSE: ESTE).Pembina Pipeline Corporation (NYSE: PBA)Pembina Pipeline Corporation (NYSE: PBA) is a $12.73 billion company today with a one-year return of -38.05%. Let's look at...Read More
The coronavirus epidemic has created fertile ground for scams.And it's already costing Americans tens of millions of dollars.A March memo from the U.S. Department of Justice reads:As you know. we have seen an unfortunate array of criminal activity related to the ongoing COVID~19 pandemic. Capitalizing on this crisis to reap illicit profits or otherwise preying on Americans is reprehensible and wil...Read More
Here are five Fastmarkets stories you might have missed on Monday May 4 that are worth another look.Flat-rolled steel import prices were mostly stable week on week in South America on Friday May 1, after deals became scarce and negotiations for June-shipment cargoes finished with low interest from clients.The European Commission's (EC) antitrust authorities granted Europe's largest copper smelter...Read More
Exporters of flat steel from the Commonwealth of Independent States (CIS) were calm during the week ended Monday May 4 due to the large gap between offers and the workable level for buyers, Fastmarkets heard.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $350-365 per tonne on Monday, down by $5 per tonne from $355-370 per tonne a week befor...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK CIN rallied 39.79 points or 4.7 points to close at 884.85 for a gain of 4.7%.MACD rose 1.51 points to 11.21. RSI bolted higher, climbing 4.87 points to 55.73 (at one point reaching a multi-week high of 61.8).Support is at 846.78 (20-day moving average) and 800. Resistan...Read More
Domestic prices for hot-rolled coil in both Northern and Southern Europe dropped over the week ended Friday May 1 due to supply exceeding demand.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?425.63 ($467.04) per tonne on May 1, down by ?,?17.50 per tonne week on week and down by ?,?46.87 per tonne since the start of April.Friday's index was calculated b...Read More
The price of steel rebar in Russia's Central Federal District around Moscow was slightly lower week on week on Monday May 4 due to slow demand due to the extended Covid-19 lockdown, sources told Fastmarkets this week.Trading activity in the region has been severely hampered by the measures imposed to combat the Covid-19 virus and Russian public holidays.On April 28 Russia'...Read More
India has announced that it will extend its countrywide lockdown under the Covid-19 pandemic for a second time, but the creation of high- and low-risk zones in the country has meant that some steel producers were now increasing production levels once more.Indian steelmaking giant JSW has started to ramp-up steel output again after receiving government approval and instituting social-distancing pro...Read More
Singapore's rebar import market continued to see limited trading activity in the past week due to an extension of Covid-19 measures.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore, which mainly looks at cargoes sold into Singapore on a theoretical-weight basis, was $390-410 per tonne on Monday May 4, unchanged from a week earlier.Singapore has extended...Read More
Here are five Fastmarkets stories you might have missed on Monday May 4 that are worth another look.Flat-rolled steel import prices were mostly stable week on week in South America on Friday May 1, after deals became scarce and negotiations for June-shipment cargoes finished with low interest from clients.The European Commission's (EC) antitrust authorities granted Europe's largest copper smelter...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanChief Strategist, Enriched Investing Inc.Phone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12May 4, 2020 "COVID-19. A pandemic or a surveillance and banker's dream? Anthony T. Hincks, aka Anthony Hawes, author, An Author of Life, Volume 1, and many more "Who benefits from all the money that is b...Read More
The Turkish deep-sea scrap import market opened the week quietly on Monday May 4 after an expected drop in prices late on Friday May 1, sources told Fastmarkets.On Friday, a steel mill in the Iskenderun region booked a European cargo comprising 17,000 tonnes of HMS 1&2 (80:20) at $236 per tonne cfr, and 7,000 tonnes of bonus at $246 per...Read More
Gold will remain firm on restarting US China trade tensions. Pre USA presidential drama has started. Trump has started blaming china for corona virus. Trump has restarted the trade war. The trade war is a political drama by Trump to divert mass attention from late reaction to CVOID crisis. There will be more such politically motivated things by Trump. Gold will remain firm till November. There c...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The first quarter continued the trend of 2019 - for China to actively import relatively cheap metallics and semi-finished steel - but can this be sustained? The answer to this question will come down to the price competitiveness of the products, we believe. One additional incentive to continue to import metallics this year -...Read More
Brazilian slab export prices narrowed upward in the week to Friday May 1, with producers trying to push offers higher amid lower global slab supply.Fastmarkets' weekly assessment for steel slab export, fob main port Brazil, moved up by $10 on the low end to $330-345 per tonne, from $320-345 per tonne a week earlier.Offers from Brazil to Asia were reported within the range of $330-335 per tonne fob...Read More
This is an exclusive "Hedgeye Investing Summit" interview between Real Vision co-founder Grant Williams and Hedgeye CEO Keith McCullough.***This interview originally aired live on Hedgeye.com on April 16, 2020***Grant Williams is the portfolio manager of the Vulpes Precious Metals Fund and strategy advisor to Vulpes Investment Management in Singapore. Grant has 28 years of experience in finance on...Read More
Mohamed El-Erian, chief economic advisor at Allianz, joins "Squawk Box" to discuss Warren Buffett's take on the markets and the impact of the Fed's emergency response to the coronavirus crisis.Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a global investment firm and one of the w...Read More
This is an exclusive "Hedgeye Investing Summit" interview between renowned Economics Professor Steve Hanke of Johns Hopkins and CEO Keith McCullough.***This interview originally aired live on Hedgeye.com on April 16, 2020***Mr. Keith R. McCullough is the Founder and CEO of Hedgeye Risk Management LLC. He covers the strategy sector at the firm. Prior to founding the firm, Mr. McCullough was a Partn...Read More