The flat-rolled steel import market was mixed on Wednesday January 8, with some products rising sharply due to gains in the domestic market while others were quiet following no immediate improvement in steel demand after the December holiday lull, market participants said.Entering the first full work week following the Christmas and New year holiday break, a number of domestic steelmaker...Read More
The retailer posted a decline in net holiday salesVictoria secret parent L Brands Inc (NYSE:LB) is up this morning, despite the company posting net holiday sales of $3.9 billion, which came in below estimates. LB also posted a decrease in quarterly sales, and lowered its fourth-quarter outlook to $1.85 from $2 per share. The equity is up 2.7% at $18.60, at last check. Since hitting its nine-year...Read More
DBVT is on track for its best day in nearly two yearsOne of the better stocks on the Nasdaq this morning is DBV Technologies (NASDAQ:DBVT), up 16.6% to trade at $13.11. The French pharmaceutical company's peanut allergy patch Viaskin showed durable benefits in a study, prompting Stifel to raise its rating to "buy" from "hold." While also upping its price target to $18 from $10, the analyst in cov...Read More
By: Gary SavageWe are still in an intermediate trend higher in gold. These corrections typically last 4 to 9 days in an intermediate trend cycle..https://blog.smartmoneytrackerpremium.com/Read More
- Ira EpsteinAlgos do not always win - important to know this. Gold price gap in the chart is now filled, fails after failed Iran/Iraq/US fears subsides -- China, Brexit, Impeachment and much more coming up:Read More
Gold and silver may have formed a short term top yesterday. If tomorrow's US December nonfarm payrolls matches ADP jobs, then gold and silver can see further sell off. Signing of the US-China trade deal and the details released thereof will be closely watched next week. Iran situation will be fragile over the coming weeks and months. There will be phases of escalation of geopolitical situation i...Read More
President Trump said Iran "appears to be standing down"U.S. stock futures are higher this morning, as investors digest comments from U.S. President Donald Trump that Iran "appears to be standing down," following the non-fatal ballistic missile attacks on two U.S. military bases in Iraq. Elsewhere, jobless claims fell for the fourth week in a row, despite unemployment rates continuing to roll highe...Read More
Another wild week for oil traders with missiles flying and huge overnight price swings in crude. As we recently pointed out within our current Oil research article, Oil and the Energy sector may be setting up for another great trade. We recently commented on how the supply/demand situation for oil has changed over the past 20+ years. With US oil production near highs and a shift taking...Read More
Hot-rolled coil prices in the United States have remained solidly above $30 per hundredweight ($600 per short ton) following a fifth round of mill price increases.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $30.48 per cwt ($609.60 per ton) on Thursday January 9, down modestly from $30.54 per cwt on Wednesday January 8 but up by 5.1% from $28.99 per cwt a week...Read More
The three-month zinc price on the London Metal Exchange had declined at the close of trading on Thursday January 9, dipping below nearby support levels after a fresh inflow of 1,500 tonnes into Singapore capped momentum gained earlier in the week.Zinc's outright price on the LME closed at $2,377 per tonne this afternoon, dipping back below nearby resistance after reaching an intraday and two-month...Read More
The World Trade Organization has made a final ruling that the Moroccan authorities violated parts of the WTO's Anti-Dumping Agreement in its imposition of tariffs on hot-rolled coil imports from Turkey.The WTO panel findings included the fact that Morocco failed to conclude its investigation within the 18-month maximum time limit and failed to inform all interested parties...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 9 that are worth another look.The World Trade Organization has made a final ruling that the Moroccan authorities violated parts of the WTO's Anti-Dumping Agreement in its imposition of tariffs on hot-rolled coil imports from Turkey.Mining and trading company Mitsui is ceasing copper concentrate blending in South Korea,...Read More
Canadian spodumene producer Nemaska Lithium's filing for bankruptcy protection could be a bellwether moment for spodumene producers searching for capital while lithium prices continue to fall, making upstream investment seem unattractive, market sources have told Fastmarkets.The Canadian junior miner filed for bankruptcy protection on December 23 last year to provide it with more time to seek refi...Read More
By: Gary SavageWe are still in an intermediate trend higher in gold. These corrections typically last 4 to 9 days in an intermediate trend cycle..https://blog.smartmoneytrackerpremium.com/Read More
The U.S. manufacturing sector contracted for the fifth straight month in December, with the monthly reading from the Institute for Supply Management (ISM) hitting its weakest point in more than 10 years. The purchasing manager's index (PMI) fell to 47.2, a level we haven't seen since June 2009, as global trade tensions continued to take a toll on the country's manufacturers. The news comes as tw...Read More
- Ira EpsteinAlgos do not always win - important to know this. Gold price gap in the chart is now filled, fails after failed Iran/Iraq/US fears subsides -- China, Brexit, Impeachment and much more coming up:Read More
Gold and silver may have formed a short term top yesterday. If tomorrow's US December nonfarm payrolls matches ADP jobs, then gold and silver can see further sell off. Signing of the US-China trade deal and the details released thereof will be closely watched next week. Iran situation will be fragile over the coming weeks and months. There will be phases of escalation of geopolitical situation i...Read More
The Chinese alumina price recently reached a floor and began entering into a rebound on the spot market, however, excess market supply has limited the uptrend, market participants said."The bearish news of large quantities of imported material continuing as well as an oversupplied domestic market have been digested by the market already so we assume the price will enter an upward trend from now on...Read More
The three-month zinc price on the London Metal Exchange had declined at the close of trading on Thursday January 9, dipping below nearby support levels after a fresh inflow of 1,500 tonnes into Singapore capped momentum gained earlier in the week.Zinc's outright price on the LME closed at $2,377 per tonne this afternoon, dipping back below nearby resistance after reaching an intraday and two-month...Read More
There has been a flurry of buying activity in the Chinese alumina market at the start of January, supporting the benchmark alumina price above $270 per tonne. Fastmarkets calculated the benchmark daily alumina index, fob Australia at $277.36 per tonne on Thursday January 9, up from $275.77 per tonne on Wednesday. The index has traded between $275 and $277 per tonne since December 27. Key driv...Read More