The Turkish deep-sea scrap import market has gone quiet since the recent slip in prices, sources told Fastmarkets on Thursday January 30.The daily scrap indices went down by almost $10 per tonne on Wednesday, when a US cargo was heard sold at $275 per tonne cfr for HMS 1&2 (90:10).But the mills have mostly been quiet in the wake of this cargo deal, because they were still focused on rebar and bill...Read More
"The reality is the sector remains unthawed. We haven't seen a whole lot of activity on the market. I think the utilities are waiting to see what happens next. "We're out of the Section 232 piece ...Read More
Japanese scrap prices continued to tumble this week, pushed down by disappointing demand in both the domestic and export markets, sources told Fastmarkets on Thursday January 30. "Steel mill production and demand in Japan is not so good, so scrap prices are decreasing, but scrap generation is also poor," one scrapyard source said "So even though the local mills' buying prices are falling, I don't...Read More
John Meyer, Sergey Raevskiy and Simon Beardsmore of SP Angel clinched the top spot on the base metals leaderboard for the Apex fourth-quarter 2019 predictions, with an accuracy rating of 99.29%, while Rhona O'Connell of INTL FC Stone came top for precious metals with a rating of 99.26%.For steel raw materials, ABN Amro's Casper Burgering topped the leaderboard with a 97.44% accuracy score.Click on...Read More
Domestic prices for hot-rolled coil have been fairly stable in the north of Europe, but the mood is positive, supported by good order books at the steel mills and a lack of competitive import offers, sources told Fastmarkets on Thursday January 30.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?467.57 ($514.66) per tonne on Thursday January 30, up by ?,?0...Read More
Today is Thursday, January 30, 2020, and this is your daily gold market update. Let's look at the latest price of gold, value of the dollar, gold/silver ratio, Commitment of Traders data, and exchange-traded fund (ETF) prices to get a sense of how the yellow metal is faring today.Gold PriceThe price of one troy ounce of gold in U.S. dollars today is $1,586.35. It's up 0.59% from yesterday and up 2...Read More
Today is Thursday, January 30, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of SEACOR (NYSE: CKH), Diamond Offshore Drilling (NYSE: DO), and Apache Corporation (NYSE: APA).SEACOR (NYSE: CKH)SEACOR (NYSE: CKH) is a $766.41 million company today with a one-year return of -6.49%. Let's look at its price-to-earnings (P/E) ratio, its enterprise-value-to-free...Read More
The Wuhan coronavirus will likely influence fundamentals in China's steel market and Chinese export trends in the near future, sources told Fastmarkets this week.Industry sources have sketched out a number of scenarios that may happen, especially if the situation becomes drawn out and restrictions on travel and transportation persist into the foreseeable future."If logistical restrictions continue...Read More
If I were a religious man, I'd think this was a sign from God.Swarms of locusts have descended upon East Africa, destroying crops and adding further pressure to a region already faced with massive food insecurity.According to Oxfam, a large desert locust plague can contain up to 150 million individuals per square kilometer, with half a million locusts weighing approximately one tonne. One tonne of...Read More
Trade disputes and geopolitical uncertainties had already made the prospects for global economic growth uncertain. A coronavirus has now added to the challenges facing financial markets.The epicenter of the virus is Wuhan, an important commercial hub in China that is home to 11.9 million people, including the country's largest student population. It is also a manufacturing hub, with around 500 fac...Read More
Three years ago, a small, little-talked-about report was released by the Department of the Interior.It was written by a bureau of the department known as the U.S. Geological Survey.The goal of the report was simple: identify information on events, trends, and issues for each mineral commodity. After all, the non-fuel minerals they researched were vital to the U.S. economy.The value added to our GD...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 30 that are worth another look.The Wuhan coronavirus will likely influence fundamentals in China's steel market and Chinese export trends in the near future, sources told Fastmarkets this week.Zinc's weak fundamentals are finally catching up with prices, after being softened by a selloff sparked by concerns about the co...Read More
Domestic rebar and wire rod prices in the Turkey dropped in the week to Thursday January 30, in response to falling imported scrap prices and limited demand, sources said.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey, was 2,960-3,000 lira ($497-504) per tonne on January 30, down from last week's 2,975-3,030 lira per tonne. ...Read More
Prices for steel billet imported into Egypt dropped again in the week ending Thursday January 30 amid weak demand, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?9,650-10,000 ($610-632) per tonne ex-works including 14% VAT, unchanged since last week.Deals were heard at these prices.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar),...Read More
The Turkish deep-sea scrap import market has gone quiet since the recent slip in prices, sources told Fastmarkets on Thursday January 30.The daily scrap indices went down by almost $10 per tonne on Wednesday, when a US cargo was heard sold at $275 per tonne cfr for HMS 1&2 (90:10).But the mills have mostly been quiet in the wake of this cargo deal, because they were still focused on rebar and bill...Read More
Japanese scrap prices continued to tumble this week, pushed down by disappointing demand in both the domestic and export markets, sources told Fastmarkets on Thursday January 30. "Steel mill production and demand in Japan is not so good, so scrap prices are decreasing, but scrap generation is also poor," one scrapyard source said "So even though the local mills' buying prices are falling, I don't...Read More
Heavy rainfall in the Brazilian southeastern state of Minas Gerais has caused interruptions for some railway operators transporting iron ore for exports, but the impact has been minimal, companies told Fastmarkets on Wednesday January 29.January 2020 has had the highest rainfall rate in 110 years, the Minas Gerais' state governor office said on Wednesday. Vale, the world's largest iron ore pr...Read More
Prices in Southeast Asia's steel billet market fell during the week to Thursday January 30 with market participants adopting a bearish outlook amid weakening ferrous scrap prices and uncertainty surrounding the coronavirus outbreak in Wuhan City, China.Nonetheless, billet demand from the Philippines is likely to remain steady until the onset of the rainy season in late May, sources told Fastmarket...Read More
Dear Friend of GATA and Gold:Our friend Paul Mylchreest, now an analyst for financial research firm Hardman & Co. in London, demolishes the London Bullion Market Association with an "open letter" released today, blaming the group's trading and reporting systems for suppressing the offtake of gold to about 5 percent of what it would be otherwise. These systems, Mylchreest suggests, benefit primar...Read More
By: Gary SavageGold traders can be too emotional and unless they can find a way to change that, they will not find success in the investment business.$GDX's big picture, resistance around 32 area. Bullion banks are heavily short and lost control of gold..https://blog.smartmoneytrackerpremium.com/Read More