Dexin Steel Indonesia will fire up its first blast furnace on Friday February 21, an industry source told Fastmarkets.Owned by China's Delong Holdings, the mill in Central Sulawesi province's Indonesia Morowali Industrial Park, will have a total production capacity of 3.5 million tonnes per...Read More

Talk about a spike in deaths: Iran is now reporting 9 deaths after shocking the world by revealing that two Chinese nationals infected with the virus had died in the city of Qoms earlier this week Continue...Read More

Turkish deep-sea scrap import prices remained largely unchanged on Thursday February 20, despite the market going quiet after this week's buying spree, sources told Fastmarkets. Steel mills in the country have booked at least six deep-sea cargoes so far this week, totaling around 180,000 tonnes. The most recent deals put the price for Baltic Sea-origin HMS 1&2 (80:20) at $279 per tonne c...Read More

Chinese port prices increased by as much as 15 yuan per tonne ($2.14 per tonne) for Pilbara Blend fines on Thursday February 20 amid a surge in the May iron ore contract on the Dalian Commodity Exchange (DCE).Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $92.01 per tonne, up $2.01 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $91.34 per tonne, up $2.01 per tonne.62% Fe low-...Read More

Lion One Metals will continue this work over the coming months. In a news release, Lion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX) announced that surface sampling from the Navilawa tenement at its Tuvatu project in Fiji returned high-grade gold."These first surface sample results are very promising and, coupled with recently announced results from our controlled-source audio-magnetotelluric surveys...Read More

Mineral Mountain Resources continues to hit, with the drill bit, wide intervals of Homestake-style mineralization. In a news release, Vancouver-based Mineral Mountain Resources Ltd. (MMV:TSX.V) provided an update on its in-progress Phase 2 drill program targeting the Shear zone at its Standby gold project in South Dakota.As of Feb. 15, 2020, the company drilled seven holes covering 2,522 meters (...Read More

The outbreak of the novel coronavirus (2019-nCoV), intra-year demand volatility and seaborne supply uncertainty are likely to contribute to iron ore price volatility in the coming year, Australia miner BHP said."If Covid-19 is effectively and demonstrably contained within the March quarter, we expect that an accelerated run-rate in the construction and manufacturing sectors for the remainder of th...Read More

Turkish steel billet prices have increased over the past week thanks to rising imported scrap costs and improving demand, sources said on Thursday February 20.In response to the rising scrap import prices in Turkey, the suppliers in the Commonwealth of Independent States (CIS) region have raised their billet offer prices to $405-415 per tonne from last week's $400-405 per tonne.A steel mill in...Read More

Dexin Steel Indonesia will fire up its first blast furnace on Friday February 21, an industry source told Fastmarkets.Owned by China's Delong Holdings, the mill in Central Sulawesi province's Indonesia Morowali Industrial Park, will have a total production capacity of 3.5 million tonnes per...Read More

Lingering COVID-19 fears may have triggered the midday sell-off on Wall StreetThe Dow finished with a triple-digit loss today, its third-straight day moving at least 100 points, regardless of direction. The blue-chip index was down by almost 400 points at its session lows, hit by a sudden midday sell-off potentially triggered by lingered COVID-19 concerns. The S&P 500 and Nasdaq also closed in th...Read More

China's domestic rebar prices were mixed on Thursday February 20, with a partial resumption of work by the construction sector providing support in the eastern region while the cold weather in the north kept demand in check.Eastern China (Shanghai): 3,400-3,430 yuan ($486-490) per tonne, up 30 yuan per tonneNorthern China (Beijing): 3,330-3,350 yuan per tonne, down 20-30 yuan per tonneSeveral key...Read More

The shares of Avis Budget Group are trading near two-year highs after a fourth-quarter earnings beatRental car specialist Avis Budget Group Inc. (NASDAQ:CAR) entered the earnings confessional last night after the close with impressive results. Specifically, the firm posted fourth-quarter profits of $1.90 per share and a jump in revenue to a record $2.2 billion, both of which beat out analysts' es...Read More

LL shares are spiking todayLumber Liquidators Holdings Inc (NYSE:LL) is in focus today, with the stock last seen trading 27% higher at $10.38, fueled by online speculation that the shares could keep rocketing higher. This price action has LL pacing for its first close atop the 200-day moving average since mid-December, and options activity is through the roof in the meantime. So far today, roughl...Read More

Earnings season will end with a bang, as several retailers to report The final week of February will be a busy one. Investors will be sifting through a deluge of economic data, while earnings season is set to go out with a bang. In the forefront will be gross domestic product data for the fourth quarter, as well as a slew of home sales figures and consumer spending. As for earnings, the single blu...Read More

MGM has had a difficult start to FebruaryMere days off news its CEO Jim Murren has stepped down, MGM Resorts International (NYSE:MGM) is now buzzing after revealing it fell victim to a data breach in 2019. Reportedly the information of 10.6 million guests was compromised, though major financial systems were not affected. In response, MGM is down 0.2% at $32.11, at last check. MGM Resorts stock h...Read More

Stocks are suddenly pulling back sharply at middayStocks are suddenly selling off sharply at midday, with the Dow Jones Industrial Average (DJI) down almost 300 points at last check. The losses are just as deep for the S&P 500 Index (SPX) and Nasdaq Composite (IXIC), while gold prices surge to fresh highs amid the risk-off trading. At last check, April-dated gold futures were trading up 0.8% at...Read More

RambusJust a quick update on the Yen / PM combo we've been following. Today the yen is moving lower in its new impulse move to the downside doing away with the positive correlation it used to have with the PM complex. While the yen is moving lower more PM stock indexes are breaking out to the upside. I just wanted to post this combo chart early so you can follow the breaking out and the backtest...Read More

- Steve St. Angelo, SRSrocco Report According to a precious metals dealer I spoke with, the world out on the street is that demand for gold and silver has recently surged due to investor concerns about a disruption to the Global Supply Chain. We are already seeing a massive slowdown in China's oil demand as official reports show a 20% reduction in oil consumption. However, I believe China'...Read More

By: Ira EpsteinGold Market: higher highs ad higher lows short-term. What resistance exists above? Markets in general are looking at the "what if" scenarios..Read More

One needs to keep on booking profit as long as gold does not break $1633.80 and silver does not break $1882.90. There is a big technical resistance between $1633.80-$1648.50 and $1663.30. For gold to rise to $1900-$2000 for the rest of the year, it has to break and trade over $1633.80-$1648.50-$1663.30 zone. Why am writing this? This is always a slip between the cup and the lip. The Lip here is...Read More