Warren Buffett’s favourite market gauge of how overvalued or undervalued stocks are just hit an all-time high. What is this gauge? Buffett compares how big the stock market is to the size of the U.S. economy. Right now, the total market capitalization of the U.S. stock market is now 195% of U.S. GDP. This means that stocks are now worth roughly two times the total output of the U.S. economy....Read More
Precious metals such as gold are interesting investment options. On the one hand, precious metals have a variety of in-demand uses, such as in the construction of solar panels and in many electronics. Then we have the more emotional side of precious metals. Precious metals provide weary investors with a semblance of safety, particularly during times of volatility. After the volatile year we endure...Read More
Tin's London Metal Exchange three-month price closed 3% higher on Monday February 15 at $24,385 per tonne, while the rest of the base metals prices continued to capitalize on bullish momentum with new year-to-date highs for all metals except for zinc. The tin price extended to $24,895 per tonne around midday, rising by some $1,000 in one hour. The short squeezing has resulted in the highest price...Read More
Feb 15, 2021 Guest(s): Gianni Kovacevic Executive Chairman, CopperBank There are roughly 2 ounces of silver and more than 100 kg of copper in an electric vehicle like Tesla, said Gianni Kovacevic, CEO of CopperBank.Kovacevic said that it is unlikely automobile manufacturers have been trying to suppress the prices of silver and copper."As for electric vehicle manufacturers having some sort of a c...Read More
Spot zinc treatment charges (TCs) remained stable in mid-February in the run up to the Chinese New Year holidays, with smelter side activity muted in Asia. Fastmarkets assessed the zinc spot concentrate TC, cif China at $70-85 per tonne on Friday February 12, unchanged from January 29 when it dropped to a two-and-a-half-year low. A zinc tender from Dugald River attracted sharp terms, coming i...Read More
Even with Chinese market participants on holiday, base metals prices on the London Metal Exchange have for the most part been bullish on Monday February 15, with the exception of zinc. Major western pre-market equity index futures were stronger. The dollar index was on a back foot while United States 10-year treasury yields were firmer, suggesting risk-on. Base metals The three-month zinc pri...Read More
Jack ChanPosted Feb 15, 2021Gold 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.Short-term is on SELL signal.Short-term signals can last for days and weeks and are more suitable for traders. Data is supportive for overall higher gold prices.Data is supportive for overall higher silver prices.Our ratio is on BUY s...Read More
Meanwhile iridium is the latest precious metal to soar, with Reuters reporting supply shortages and expectations it would be used to produce hydrogen to power a greener economy lifting its value by 160% in two months.It's risen from US$1,685 an ounce on December 12 to a record $4,390/oz, the wire service said.Impala Platinum (JSE: IMP), which produces about 67,000 ounces of iridium annually, rose...Read More
Spot zinc treatment charges (TCs) remained stable in mid-February in the run up to the Chinese New Year holidays, with smelter side activity muted in Asia. Fastmarkets assessed the zinc spot concentrate TC, cif China at $70-85 per tonne on Friday February 12, unchanged from January 29 when it dropped to a two-and-a-half-year low. A zinc tender from Dugald River attracted sharp terms, coming i...Read More
Here are five Fastmarkets stories you might have missed on Monday February 15 that are worth another look.The Gulf Co-operation Council (GCC) believes that a recent increase in the imports of certain steel products could pose a threat to domestic industry, according to a document seen by Fastmarkets, in which the group's Technical Secretariat recommended imposing a safeguard duty on...Read More
After a consultation period, Fastmarkets will amend the pricing holiday schedule for its cobalt hydroxide payable indicator with public holidays in China instead of those in England and Wales.The change is reflective of the fact that the price assessment tracks activity on a cif China basis. The detailed specifications for this assessment are listed below with amendments in italics:MB-CO-0021: Cob...Read More
Turkish domestic scrap prices have rebounded in the past week thanks to the upturn in imported scrap values, market sources said on Monday February 15.The producers in the country resumed their deep-sea scrap bookings on Wednesday last week, dragging prices up by more than $22 per tonne week on week by Friday.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was...Read More
British steel scrap suppliers have mostly settled monthly delivery prices for steel scrap to domestic consumers at ?30 ($41) per tonne lower for February, not as low as expected because export prices to traditional deep-sea markets have staged a late recovery this month, industry sources told Fastmarkets. The move marks the first downturn in prices since October when the markets dropped ?5 per t...Read More
* Graphic: World FX rates (Updates prices, adds dollar positioning data)By Iain WithersLONDON, Feb 15 (Reuters) - The U.S. dollar held neartwo-week lows on Monday, as optimism about COVID-19 vaccinerollouts and a planned $1.9 trillion U.S. stimulus packageoffered a boost to riskier currencies, stock markets andcommodity prices.Among the gainers versus the weaker dollar, the Britishpound broke $1.3...Read More
Even with Chinese market participants on holiday, base metals prices on the London Metal Exchange have for the most part been bullish on Monday February 15, with the exception of zinc. Major western pre-market equity index futures were stronger. The dollar index was on a back foot while United States 10-year treasury yields were firmer, suggesting risk-on. Base metals The three-month zinc pri...Read More
After a consultation period, Fastmarkets will amend the pricing holiday schedule for its cobalt hydroxide payable indicator with public holidays in China instead of those in England and Wales.The change is reflective of the fact that the price assessment tracks activity on a cif China basis. The detailed specifications for this assessment are listed below with amendments in italics:MB-CO-0021: Cob...Read More
The world's demand for silver will climb to an eight-year high in 2021, according to the Silver Institute, creating conditions for silver to "comfortably outperform" gold this year."The outlook for silver demand is bright, with the global total forecast to achieve an eight-year high in 2021 of 1.025 billion ounces, thereby recovering all losses sustained in 2020," the Silver Institute said in a re...Read More
Here are five Fastmarkets stories you might have missed on Monday February 15 that are worth another look.The Gulf Co-operation Council (GCC) believes that a recent increase in the imports of certain steel products could pose a threat to domestic industry, according to a document seen by Fastmarkets, in which the group's Technical Secretariat recommended imposing a safeguard duty on...Read More
Are you ready for the snow? Russell Napier sees an avalanche of inflation coming. While he hands out the gloves and mittens, inflation-sensitive Canadian stocks are already soaring. Meanwhile, cryptocurrency interest rates are rising.A boom born in lockdown: cryptocurrency interest rates are soaring along with Canadian stocks.In this week's Insights, we also suggests that short sellers have mis-re...Read More
Domestic prices for steel hot-rolled coil in Northern Europe started to move up at the end of the week to Friday February 12, supported by good order books at domestic producers and solid demand.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?720.00 ($872.58) per tonne on Friday, up by ?,?10 per tonne week on week and up by ?,?32 per tonne month o...Read More