Sentiment in the Commonwealth of Independent States' (CIS) export billet market improved over the weekend amid ongoing demand from China as well as increasing scrap costs, sources said.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS was $345 per tonne on May 11, up by $9 from Thursday May 7. Several cargoes of Ukraine-origin billet totaling 90,000 tonnes were sold to C...Read More
Import prices for steel slab in Southeast Asia and East Asia widened over the past week on sustained import demand from China despite the muted trading activity in other parts of Asia, Fastmarkets heard.Fastmarkets' price assessment for steel slab imports, cfr Southeast Asia and East Asia was $340-360 per tonne on Monday May 11, widening by $5 per tonne on both ends from $345-355 per tonne on May...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanChief Strategist, Enriched Investing Inc.Phone: 416-523-5454 Email: david@davidchapman.comdchapman@enrichedinvesting.comTwitter: @Davcha12May 11, 2020 "The dead outnumber the living fourteen to one, and we ignore the accumulated experience of such a huge majority of mankind at our peril." Niall Ferguson, Scottish born historian, senior fellow...Read More
By Rob KirbyIn recent interviews I have "borrowed" a descriptive I originally heard from Chris Martenson explaining the effect of compound interest and exponential growth. The descriptive involved picturing Yankee Stadium and beginning with a drop of water and doubling the amount of water until the stadium was full. Regarding the compounding visual - I misspoke somewhat when I originally exp...Read More
By Stefan GleasonThe forces of deflation and inflation continue to tug at the economy simultaneously.The pressures on both sides are huge.On the deflation side, jobs, industrial demand, and the small business lifeblood of communities are contracting at an unprecedented pace. Meanwhile, trillions in credit card, auto, student loan, and mortgage debt that props up consumer spending and home values...Read More
The deflation and depression is right here, right now, and if you don't believe that, try asking some of the 30 million people who just lost their jobs in the US or those who (used to) work in the catering and tourism industries.The Fed is reacting to this situation by working to create hyperinflation because it finds it preferable to a deflationary implosion. There are two reasons for this - on...Read More
By Gary TanashianAs we noted in March while it was happening the sentiment environment became terror-stricken. Not fearful. Not over-bearish. Not even a contrarian extreme. Market sentiment was marked by full frontal terror as indicator after indicator (ref. Sentimentrader's historic readings week after week) got slammed to epic over-bearish proportions.Into the breach sprang the Treasury (i.e....Read More
By Richard (Rick) MillsCleaner skies owing to covid-19 lockdowns appear to be the silver lining of the global economy crashing to a sudden halt in March. In fact new evidence shows that high-polluting energy sources were on the wane, even before the coronavirus pandemic. According to the International Energy Association (IEA), fossil fuel usage in electricity generation dropped by 245 tera...Read More
COLORADO SPRINGS, CO, May 11, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ?EUR' Gold Resource Corporation (NYSE American: GORO) (the "Company") today announced multiple ore grade intercepts from its phase two drill program at the "Scarlet" target located 400 meters northwest of its operating Isabella Pearl mine in Mineral County, Nevada (see map). Near surface ore grade gold intercepts included 12...Read More
Technical expert Clive Maund explains why he believes gold and silver are powering up for a stratospheric advance. The deflation and depression is right here, right now, and if you don't believe that, try asking some of the 30 million people who just lost their jobs in the U.S., or those who (used to) work in the catering and tourism industries.The Federal Reserve is reacting to this situation by...Read More
Defense Metals is working toward updating its mineral resource. Defense Metals Corp. (DEFN:TSX.V; DFMTF:OTC; 35D:FSEQB) created a three-dimensional geological model of the rare earth elements (REEs) Wicheeda deposit at its Wicheeda project near Prince George, Canada, the company announced in a news release."The new 3D geological model represents a fundamental evolution in the understanding of the...Read More
Black Tusk Resources continues gathering and assessing data on the polymetallic property. In a news release, Black Tusk Resources Inc. (TUSK:CSE; BTKRF:OTCMKTS; 0NB:FSE) announced it added 15 claims to its Lorrain platinum group elements property in Quebec, taking the total to 23 claims over about 1,222 hectares.The area containing the newly acquired claims was diamond drilled in 2002, one hole o...Read More
Technical analyst Clive Maund explains why he's bullish on silver. The way you see silver now depends on whether you see a glass that is half empty or half full. If you are a pessimist by nature you will be grumbling about its underperformance relative to gold up to this point, but if you are an optimist, as we certainly are with regards to silver, you will see it as maintaining the opportunity t...Read More
A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on Monday May 11.Five new infections have surfaced in the Chinese city of Wuhan where the outbreak first came to light, while 11 new cases have been recorded in Shulan city in Jilin province. And in the South Korean capital Seoul, the authori...Read More
The Dow pared an over 200-point loss but still finished lowerIt was a mixed bag of results on Wall Street today, with the Dowdown over 200 points at its session lows but then breaking into the black briefly later in the day. The blue-chip index ultimately finished lower, succumbing to anxieties sparked by a potential resurgence in coronavirus cases as the economy begins to reopen. The Nasdaq on th...Read More
Roku stock is trading higher middayThe 20 stocks listed in the table below have attracted the highest weekly options volume during the past 10 trading days, with data courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. Stocks highlighted in yellow are new to the list. One newbie that sticks out in particular is Roku Inc (NASDAQ:ROKU). Below, we'll take a closer look at the options act...Read More
AMC is now up over 120% for the monthThe shares of AMC Entertainment Holdings Inc (NYSE:AMC) are soaring, up 40% to trade at $5.69, the top performer on the New York Stock Exchange (NYSE) today. This comes amid reports that Amazon.com (AMZN) is considering buying what is currently the world's largest cinema chain, although it is unclear if talks are ongoing. The cinema company had been in discuss...Read More
Euronav just pulled back to a bullish trendline on the charts The roller coaster oil prices have been on lately has taken Belgium-based crude name Euronav NV (NYSE:EURN) on a volatile ride in recent weeks. The shares enjoyed a volatile climb higher in April, before coming to a head just south of the $12.50 region. It's been a steep slide since, though the pullback has put EURN right in-line with...Read More
The Dow is down around 160 points midday The Dow Jones Industrial Average (DJI) is down over 160 points midday, with Wall Street wary surrounding the "reopening" of the economy -- made worse by a second wave of coronavirus cases in South Korea. The S&P 500 Index (SPX) is also modestly in the red, while on the flip side, tech-heavy Nasdaq Composite (IXIC) is eking out gains thanks to a rise in FA...Read More