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
RBC upgraded CHWY to "outperform" from "sector perform"Chewy Inc (NYSE:CHWY) stock is set to open at one-month highs this morning right on the heels of a bull note from RBC. The analyst upgraded the online pet supply retailer to "outperform" from "sector perform," praising its risk-reward outlook and strong fundamentals. At last check, CHWY is up 10.2% to trade at $32.19. Since pulling back to re...Read More
KO hit a record high late last weekCompanies are starting to unravel how the coronavirus outbreak will affect their bottom line, and the results haven't been pretty. Coca-Cola Co (NYSE:KO) adjusted its own outlook this morning, cutting its current-quarter earnings by one to two cents per share. While China is the company's third-largest market in terms of unit case volume, Coca-Cola did reaffirm...Read More
Stocks are eyeing another down dayDow Jones Industrial Average (DJI) futures are trading more than 100 points below fair value, as coronavirus concerns pick back up. This comes after stocks suddenly pulled back on Thursday, with the selling set to continue on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX), as well. As such, the Cboe Volatility Index (VIX) could be due for another rise, along w...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 408,34954,70066,606175,519561,131650,474682,437 Change from Prior Reporting Period 51,8146,1397,343-6,11041,71153,04755,193 Traders 25958685356336164 Small Speculators LongShortOpen Interest 64,84332,880715,317 4,2462,10057,293 non reportable positionsCha...Read More
By: Ira EpsteinGold is at the highest close in years. The old highs at the start of 2020 is now gone, trend is up, momentum..https://www.iraepstein.com/Ira EpsteinOver the past 35-years Ira Epstein has developed a reputation for providing clients with easy to use technology and teaching good old fashioned trading know-how. No matter how technology changes the methods of entering orders, there'...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday February 21.China The Chinese ferro-silicon spot price remained as high as in the previous week with major alloy producers holding their offer prices at 6,800 yuan ($966) per tonne. Cross-provincial transport has slightly improved in the past week. Market participants expected a downtrend in the spo...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
An overview of the minor metals markets and the reasons behind the latest price moves.Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Logistics disruptions across China have paralysed many of the country's supply chains since the outbreak of a novel coronavirus infection forced authorities to clamp down on movements of material and people within the country.What has become increasingly evident is that different areas have seen their abilities to operate and to move cargoes affected to varying degrees, and that some mining, metal...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 408,34954,70066,606175,519561,131650,474682,437 Change from Prior Reporting Period 51,8146,1397,343-6,11041,71153,04755,193 Traders 25958685356336164 Small Speculators LongShortOpen Interest 64,84332,880715,317 4,2462,10057,293 non reportable positionsCha...Read More
Gold is enjoying an awesome week, surging back above $1600 for the first time in nearly 7 years! That big round psychologically-heavy level is really catching traders' attention, great improving sentiment. Yet this recent gold surge has proven peculiar. Unlike normal rallies, the buying driving this one largely hasn't come from gold's usual primary drivers. The stealth buying behind this...Read More
Richard (Rick) Mills, Ahead of the herd"Minsky Moment" refers to the idea that periods of bullish speculation will eventually lead to a crisis, wherein a sudden decline in optimism causes a spectacular market crash. Named after economist Hyman Minsky, the theory centers around the inherent instability of stock markets, especially bull markets such as the current one that has been in place for o...Read More
By: Ira EpsteinGold is at the highest close in years. The old highs at the start of 2020 is now gone, trend is up, momentum..https://www.iraepstein.com/Ira EpsteinOver the past 35-years Ira Epstein has developed a reputation for providing clients with easy to use technology and teaching good old fashioned trading know-how. No matter how technology changes the methods of entering orders, there'...Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Friday February 21, closing at its lowest level since June 2019 against thin turnover, while lead futures failed to hold onto gains made earlier in the day.Nickel's outright price on the LME closed at $12,530 per tonne in the afternoon, ending a weekly price decline that saw it sink from a high of $13,21...Read More
This year's annual benchmark treatment charges (TCs) for zinc and lead concentrates are expected to rise due to high supply and the novel coronavirus (2019-nCoV) outbreak in China and beyond affecting the raw materials market.Market participants gathered at the 2020 International Zinc & Zinc Oxide Conferences in Scottsdale, Arizona, in the United States, this past week for the annual contract benc...Read More
Seaborne iron ore prices were rangebound on Friday February 21 with market participants retreating to the sidelines, though trading activity at Chinese ports remained robust.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $92.25 per tonne, up $0.24 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $91.58 per tonne, up $0.24 per tonne.62% Fe low-alumina fines, cfr Qingdao: $93.16 per tonne,...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday February 21.China The seaborne price of low-grade manganese ore was static, with buyers resisting attempts by some producers to raise offer prices, amid high inventories and weak demand. The seaborne price of high-grade manganese ore rose after some deals were concluded at higher offer levels, with l...Read More