In a recent article entitled, "The Race for Arctic Oil Is Heating Up," the first line reads:Despite climate concerns and environmentalist backlash against exploration for oil and gas in pristine sensitive regions of the Arctic, companies continue to explore for hydrocarbon resources in the Arctic Circle, in Russia and Norway in particular.Whenever something starts with, "Despite climate concerns a...Read More

Key data from the Wednesday February 12 pricing session in Shanghai and London. Key drivers Tight spot supply pushes cobalt hydroxide payables up again, now at their highest since the end of October 2019.Customers pay a premium for nearby, prompt material in preference to that coming from Africa, where logistical bottlenecks have also slowed down shipments. ...Read More

EU domestic prices for hot-rolled coil have increased day on day despite lower import offer prices on similar material, sources told Fastmarkets on Thursday February 13.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?479.31 ($522.45) per tonne on Thursday February 13, up by ?,?3.10 per tonne day on day from ?,?476.21 per tonne on February 12.The index was...Read More

China's domestic hot-rolled coil remained under pressure on Thursday February 13 amid low economic activity downstream, though major mills maintained their export offers at relatively high levels.DomesticEastern China (Shanghai): 3,500-3,510 yuan ($502-504) per tonne, down 10 yuan per tonneNorthern China (Tangshan): 3,270 yuan per tonne, unchangedSellers in Shanghai were asking for 3,500-3,510 yua...Read More

Vancouver, February 12, 2020 - Due to a corporate action relating to Power Financial Corp (PWF), the following treatment will be applied to the INK Canadian Insider Index:Power Financial Corp (PWF) will be deleted from the Index on the effective date.Effective date: close of business February 13, 2020AltaGas Ltd. (ALA) will be added to the Index at the same weight as the deleted stock (PWF).Effec...Read More

Here are five Fastmarkets MB stories you might have missed on Thursday February 13 that are worth another look.The China Iron & Steel Association (Cisa) is seeking the Chinese transport ministry's help to solve logistical problems experienced by steelmakers in recent weeks, especially those affecting the delivery of raw materials, market sources told Fastmarkets.The novel coronavirus (2019-nCoV) h...Read More

Domestic prices for rebar and wire rod in Turkey have increased over the past seven days on a weakening lira and rising costs for imported scrap, sources said on Thursday February 13.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 3,000-3,040 lira ($497-504) per tonne on Thursday, up from the 2,940-2,950 lira per tonne of last week, including 18% V...Read More

Turkish export prices for steel rebar and wire rod have increased over the past week in line with the latest rebound in the cost of imported scrap, sources said on Thursday February 13.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $410-420 per tonne on Thursday, widening upward slightly from the $410-415 per tonne of last week.The mills i...Read More

Whilst it must be frustrating for Precious Metals sector investors to watch Tech stocks continuing to "shoot the moon" while PM stocks have mostly done nothing, the chart presented below suggests that this situation won't persist for much longer.The 7-month chart for GDX shows it probably completing the Handle of a sizeable Cup & Handle continuation pattern. GDX has stayed above the support leve...Read More

Yesterday from Fed Chairman Powell...Powell says Fed will aggressively use QE to fight next recessionFederal Reserve Chairman Jerome Powell said Wednesday the central bank would fight the next economic downturn by buying large amounts of government debt to drive down long-term interest rates, a strategy that has been dubbed quantitative easing, or QE.Of course they will. The fix is always in, i...Read More

By Carolyn BorodenGold has a rather important decision zone in the 1580.30-1581.70 area. This zone is the high that gold futures (GC) reached on February 3 in a .618 Fibonacci retracement off its low, and it also constitutes a 100% projection of the prior rally swing. Note that on the first test of this key resistance gold has failed to clear the hurdle and has pulled back just over $16.00 s...Read More

By: Ira EpsteinGold market - best to watch the sideways action, watch out for the pot holes..Read More

Turkish deep-sea scrap import prices have continued to increase with the news of a fresh cargo being sold on Thursday February 13.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $273.50 per tonne and 5,000 tonnes of bonus at $283 per tonne cfr.This compared with a US cargo sold on early Wednesday at $268 per tonne and a Baltic Sea cargo so...Read More

Seaborne iron ore prices were rangebound on Thursday February 13 amid higher steel inventories and weak demand.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $88.56 per tonne, up $0.88 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.89 per tonne, up $0.88 per tonne.62% Fe low-alumina fines, cfr Qingdao: $89.74 per tonne, up $0.81 per tonne.58% Fe fines high-premium, c...Read More

Brazil-based miner Vale has lowered its iron ore fines production guidance for the first quarter of 2020 after its operations were adversely affected by heavy rain, the company said on Tuesday February 11.Vale said it was expecting to produce 63-68 million tonnes of iron ore fines in the January-March period, down by 5 million tonnes from an earlier estimate of 68-73 million tonnes.The miner suffe...Read More

Weak demand has pushed the domestic price for rebar in Egypt down by as much as $16 per tonne over the week ended Thursday February 13, even though the import price for steel billet has increased, sources have told Fastmarkets.Some Egyptian rebar producers lowered their prices on February 10, when billet costs were falling with the help of a strong Egyptian pound.Domestic producers were offering r...Read More

China's domestic rebar prices dropped slightly on Thursday February 13 on persistently weak demand while the export segment tumbled after cargoes were sold much lower than prevailing rates. Eastern China (Shanghai): 3,370-3,400 yuan ($483-488) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,420-3,450 yuan per tonne, down 10-20 yuan per tonneMost construction projects are delaying t...Read More

Results from drill and water well testing at Minera Alamos' project and their implications are reviewed in a Haywood research report. Haywood analyst Kerry Smith reported in a Feb. 6 research note that drilling and water testing yielded positive results at Minera Alamos Inc.'s (MAI:TSX.V; MAIFF:OTCQB) Santana open-pit, heap-leach gold project. Results are in for the first two follow-up holes dril...Read More

More cases of coronavirus were reported todayDespite paring steeper losses, the Dow ultimately closed in the red. Renewed coronavirus fears and weak guidance from Cisco Systems (CSCO) weighed heavy on investors, although the blue-chip index did bounce off its more than 200-point session lows. The S&P 500 and Nasdaq nabbed fresh record highs and worked their way into positive territory in the after...Read More

TDOC stock has been on fireThe shares of Teladoc Health Inc (NYSE:TDOC) have been red hot, hitting fresh highs today and last seen up 2.2% at $112.39. Call traders aren't shying away, with call volume running in the 93rd annual percentile. This is mostly due to heavy activity at the February 110 call, where almost 3,000 contracts have traded, compared to fewer than 300 at the next most popular. Si...Read More