Import prices for flat-rolled steel were either stable or higher in South America during the week to Friday May 15, with Chinese mills presenting more expensive offers while customer interest remained lackluster amid lockdowns due to Covid-19."There were no consultations for potential imports in the past few weeks in Brazil," a trader source said. "I call clients and they don't even want to listen...Read More
Today is Thursday, May 14, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of Par Pacific Holdings (NYSE: PARR), Targa Resources Corporation (NYSE: TRGP), and Brigham Minerals (NYSE: MNRL).Par Pacific Holdings (NYSE: PARR)Par Pacific Holdings (NYSE: PARR) is a $417.98 million company today with a one-year return of -62.33%. Let's look at its price-to-earni...Read More
In this week's free Insights newsletter, we highlight a cryptocurrency stock that has been moving up the INK Edge charts. The move comes just as we have launched realtime digital currency quotes on Canadian Insider. Charts and live crypto quotesWe also have a special offer that will help you track the latest trends in Bitcoin and other asset classes as we move through these tricky COVID-19 times...Read More
As I posted in INK Chat earlier this month, we are providing links to Coinberry, a Toronto-based digital currency platform. For those that have the risk tolerances to use a crypto trading platform, they may want to consider Coinberry.Founded in 2017, Coinberry is a financial technology company focused on blockchain and digital currency solutions and provides a platform to buy and sell digital ass...Read More
Domestic prices for hot-rolled coil in Northern Europe have been under downward pressure from limited demand, sources told Fastmarkets on Friday May 15.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?411.88 ($444.86) per tonne on Friday, down by ?,?1.45 per tonne from ?,?413.33 per tonne on Thursday.Friday's index was calculated based on "workable" prices and...Read More
A new resource war has begun. But this time the war is not over oil... Or gold... Or clean water... Or any other material which has traditionally sparked resource wars. No, the new resource war will be over a lesser-known group of substances: rare-earth elements.Rare-earth elements -- sometimes called rare-earth metals or rare-earth minerals -- are a vital component in most of the technology we us...Read More
Today on INK Ultra Money we hear from a former Bank of Canada and Bank for International Settlements rebel. William White had been sounding the alarm bells from within the system for years. Now he seems resigned to wide-spread debt restructurings.We also look at a Utility stock that is heading into the INK Canadian Insider Index on Friday which has scored a big investment from one of Canada's be...Read More
Domestic prices for ferrous scrap in Italy have jumped over the past month due to low scrap collection in Europe, sources told Fastmarkets on Friday May 15.Fastmarkets' monthly price assessment for steel scrap, No E8 (thin new production steel scrap), domestic, delivered mill Italy was ?,?240-250 ($259-270) per tonne on May 15, up from ?,?210-230 per tonne in the middle of April. The assessment is...Read More
Domestic steel rebar prices in Poland declined again this week on slower market demand, sources told Fasmarkets on Friday May 15.Buying activity in the Polish rebar market was reported to be slow this week, with trading companies shunning purchases due to payment issues, sources said."Insurance companies are reducing credit lines, which could cause additional big problems to everybody. May seems t...Read More
Domestic demand for rebar in China increased on Friday May 15, but prices remained unchanged with sellers being under pressure to destock. Domestic Eastern China (Shanghai): 3,460-3,490 yuan ($487-492) per tonne, unchangedNorthern China (Beijing) - weekly assessment: 3,420-3,460 yuan per tonne, down by 30-40 yuan per tonneEnd users raised their procurement rates ahead of the weekend, but the heigh...Read More
A diversified portfolio may well prove to be a winning ticket for metals and mining companies during the Covid-19 pandemic, according to the former chief executive officer of Rio Tinto. This is in stark contrast to the global financial crisis of 2008-09, when an across-the-board hit to demand broadly left diversified miners in the same position as pure-play operators, Tom Albanese said. "When the...Read More
The Covid-19 pandemic is likely to lead to another casualty: the mega mine. The volatility created by crises like Covid-19 is adding a layer of uncertainty to the development of large-scale projects that take a decade or more to progress and are highly capital intensive, according to Tom Albanese, the former chief executive officer of Rio Tinto.This means that mining projects are likely to be deve...Read More
By Mike GleasonGold and silver markets are inching closer to achieving major upside breakouts.On Thursday, gold rallied above a near-term consolidation pattern to close at $1,747 an ounce. That put the monetary metal about $30 away from making new highs for the year. As of this Friday recording, gold prices are marching higher again and come in at $1,761, up 2.5% for the week.Turning to silver,...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 277,77134,94335,158126,023404,556438,952474,657 Change from Prior Reporting Period 2,2009,376-4,8525,9782,8753,3267,399 Traders 20445825556290158 Small Speculators LongShortOpen Interest 57,78722,082496,739 3,070-1,0036,396 non reportable positionsChange...Read More
By Gary TanashianSo here we are, with the sector leading the recovery out of the March crash during still-deflationary times. Inflation? It is not yet anywhere to be found, and that probably has a lot of inflation-centric would-be gold boosters on the sidelines. Someday, when these ladies are in full cheer with inflation signals rising, it will be time for caution.Meanwhile, for years we have st...Read More
No Place to Hide: How Market Manipulation in the Age of Pandemic is Destroying Traditional Safe HavensBy Neil VowlesUniversity of Sussex, Brighton, England, UKThursday, May 14, 2020http://www.sussex.ac.uk/broadcast/read/52005The coronavirus pandemic has created enormous volatility in global financial markets but prices of safe-haven assets such as gold and bitcoin are not surging as one might ex...Read More
The major gold miners' stocks have rallied dramatically out of mid-March's stock-panic lows, soaring to new bull-market highs. Their just-reported Q1'20 operational and financial results reveal whether today's higher gold-stock prices are fundamentally justified. They also illuminate whether this gold-stock upleg is likely to continue powering higher, despite the catastrophic economic damage...Read More
By: Ira EpsteinGold is thrusting higher and now looking at prior highs, watch these key resistance and breakout levels. Read More
Domestic prices for ferrous scrap in Italy have jumped over the past month due to low scrap collection in Europe, sources told Fastmarkets on Friday May 15.Fastmarkets' monthly price assessment for steel scrap, No E8 (thin new production steel scrap), domestic, delivered mill Italy was ?,?240-250 ($259-270) per tonne on May 15, up from ?,?210-230 per tonne in the middle of April. The assessment is...Read More
Export prices of Brazil-origin slab increased week on week amid recent deals and offers to China as well as increased raw material costs.Fastmarkets assessed the price for steel slab export, fob main port Brazil at $335-350 per tonne on Friday May 15, up by $5 from $330-345 per tonne the week previous.Chinese customers recently purchased material, sources said, with deals being heard at a minimum...Read More