Iron ore export volumes from Brazil decreased by 19.33% year-on-year in January, according to figures released earlier this week by the country's economy ministry.The country shipped 26.73 million tonnes of iron ore last month, compared with 33.14 million tonnes a year before, the economy ministry said on Monday February 3.Volumes, however, increased by 8.34% from December's level of 24.67 million...Read More
Craig Hemke, TF MetalsAt the recently completed World Economic Forum in Davos, many interesting stories and headlines emerged. Here's one you may have missed.In our 2020 forecast, we wrote that you should expect higher gold and silver prices this year due to a continuation of the trends from 2019. And we expect great things for "all forms of precious metal" as the global investment community slo...Read More
Keith Weiner, PhD, Monetary MetalsWe apologize for not posting articles during January. We have been busy, and going forward will publish a separate Market Report every Monday morning plus macroeconomics essays later in the week, as time permits.This is our annual analysis of the gold and silver markets. We look at the market players, dynamics, fallacies, drivers, and finally give our prediction...Read More
Jordan Roy-Byrne CMT, MFTALast week we noted that the risks in precious metals were primarily technical. Sentiment and technicals urge caution over the short-term. The net speculative position in Gold has remained high for months while the 21-day daily sentiment index (DSI) hit 81%. Since the sector peak five months ago, Silver and the gold stocks have corrected in price while Gold has made a...Read More
Turkish deep-sea scrap markets went quiet on Wednesday February 5 after cargoes from the United States and the Baltic Sea sent prices down by about $10 per tonne, sources told Fastmarkets.News of two fresh cargoes on Tuesday February 4, caused a $10.38-10.54 per tonne drop in Fastmarkets' daily scrap indices. The drop in prices was expected by market participants because of wea...Read More
Seaborne iron ore prices retreated on Wednesday February 5 while the market reacted to high steel inventories.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $81.31 per tonne, down $2.45 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $80.15 per tonne, down $2.45 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $82.54 per tonne, down $2.56 per tonne.58% Fe fines high-premium, cfr Qingda...Read More
Iranian export steel billet and slab prices increased in the week to Wednesday February 5, but no new deals have been heard.In the wider market in the region, the steel billet index, export, fob Black Sea, CIS, has slipped by $1 per tonne over the week, and was calculated at $392 per tonne on February 4 amid weakening scrap prices.And Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix),...Read More
China's rebar prices held steady on Wednesday February 5 after several mills announced plans to cut production.Eastern China (Shanghai): 3,360-3,400 yuan ($480-486) per tonne, unchangedNorthern China (Beijing): 3,540-3,560 yuan per tonne, unchangedAt least seven rebar producers in eastern China's Shandong province have started maintenance on their equipment due to manpower shortages and subdued de...Read More
The network underlies the Tuvatu Alkaline Gold Project. Lion One's Tuvatu ProjectLion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX) announced in a news release that the controlled source audio magnetotelluric (CSAMT) surveys conducted late last year at its Tuvatu project in Fiji showed an underlying structural network at the alkaline gold system. "We can readily see evidence of structures we think wer...Read More
Bill Powers of Mining Stock Education speaks with Greg Crowe, president and CEO of Silver One Resources, about his company's new Phoenix silver project in Arizona as well as the company's plans for 2020. In this interview, Silver One Resources Inc.'s (SVE:TSX.V; BRK1:FSE; SLVRF:OTC) President and CEO Greg Crowe discusses the company's new Phoenix Silver project in Arizona with its spectacular gra...Read More
Fund manager Adrian Day looks at four of the resource companies in his portfolio, three of which he calls good buys at current prices. Altius Minerals Corp. (ALS:TSX.V, Toronto, 10.71)generated $78 million in royalty revenue last year, following a soft last quarter, with 37% of it from copper. Coal royalties, which dominated after the acquisition of a package of royalties from Sherritt in 2013, a...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday February 5.Key drivers The price range for ferro-titanium has narrowed over the past week, with increased trading activity resulting in higher-priced deals in Europe. There was an increase in traded volumes reported, with sources saying higher-priced sales from Europe to Asia had spurred domestic European buying inte...Read More
The Nasdaq hit a record high earlierU.S. stocks pulled together big wins across the board in today's trading. The Nasdaq nabbed an afternoon peak above 9,574, brushing off Tesla's (TSLA)worst daily loss since 2012. The Dow roared to an 483-point gain -- it's third straight win andbest single-session win since June 4 -- as blue chipsUnitedHealth (UNH) and IBM (IBM) both finished at or above 5% for...Read More
Short-term options players have been buying putsProduct developer Take-Two Interactive Software, Inc. (NASDAQ:TTWO) is down 5% this afternoon, last seen at $120.50, after the company last night announced the departure of Senior Executive Dan Houser. This comes just ahead of the video game maker's fiscal third-quarter earnings, which are due after the close tomorrow, Feb. 6. TTWO has struggled to...Read More
Intercontinental Exchange is rumored to be interested in buying eBayExchange operator Intercontinental Exchange Inc (NYSE:ICE) was in focus this morning, after a Wall Street Journal report indicated the company made a $30 billion bid to acquire e-commerce icon eBay (EBAY). Earlier today, news surfaced Intercontinental did manage to acquire loyalty program provider Bridge2 Solutions. In response,...Read More
United Airlines just pulled back to a historically bullish signal on the charts United Airlines Holdings Inc (NASDAQ:UAL) has seen an impressive bounce off its late-January lows. The stock is eyeing its third consecutive win, and just successfully closed last month's bear gap. News that the company agreed to buy Westwind School of Aeronautics, making it the first and only major U.S. carrier to own...Read More
The Nasdaq has been waffling at the breakeven but eventually hit a new intraday high Stocks are making modest moves at midday. the Nasdaq Composite Index (IXIC) hit even more fresh highs, and while it has been waffling at both sides of the breakeven today, it was last seen in the black. The Dow Jones Industrial Average (DJI) issporting an almost 300-point gain, with it and the S&P 500 Index (S...Read More
Lower-dollar stocks tend to be much more volatileLook at the prices of the most familiar publicly traded companies -- Facebook (FB) ($210), Amazon.com (AMZN) ($2,030), Apple (AAPL) ($320), Netflix (NFLX) ($365), Tesla (TSLA) ($895) and Alphabet (GOOGL) ($1,430). All of them are well over $100. It didn't used to be like this. Stock splits have declined extensively over the past several years, leadi...Read More
PINS has added 18% in 2020Social media platform Pinterest Inc (NYSE:PINS) is moving lower this morning ,despite seeing an initiation of coverage from Loop Capital of a "buy" rating and $29 price target yesterday evening. The firm even went on to say PINS has "great potential as an advertising and eCommerce platform," and that it could be "very profitable." At last check, PINS was down 2.2% at to t...Read More
Both calls and puts are spiking in popularity todayThe shares of Spotify Technology SA (NYSE:SPOT) are in focus this morning, after the streaming service provider reported an adjusted fourth-quarter loss of $1.26 per share, which fell short of expectations. Spotify's first-quarter guidance missed estimates as well, but the company did announce the strategic acquisition of Bill Simmons' The Ringe...Read More