If you've been following me for any length of time you know I've been a major bull when it comes to the stock markets. The last two years were some of the best years to be a bull in one of the greatest bull markets of all time and I don't say that lightly.A little over a month ago we got our first correction of 12% in over two years on the SPX. Everyday the SPX would be up four or five points on t...Read More
Turkish steel producers have extended their silence in the deep-sea scrap markets amid weak demand for their finished steel products in both the export and domestic markets, sources said on Thursday March 15.The mills were expected to book more cargoes for April, but they stepped back from the deep-sea market late last week after Section 232 import tariffs were officially signed into effect in the...Read More
By RambusIf you've been following me for any length of time you know I've been a major bull when it comes to the stock markets. The last two years were some of the best years to be a bull in one of the greatest bull markets of all time and I don't say that lightly.A little over a month ago we got our first correction of 12% in over two years on the SPX. Everyday the SPX would be up four or five...Read More
SAO PAULO (Reuters) - Mexico and Canada should be ready to continue with a version of the North American Free Trade Agreement (NAFTA) without the United States, the Mexican economy minister said on Thursday.“You have to be ready to live with a NAFTA without the U.S.” Economy Minister Ildefonso Guajardo said at the World Economic Forum on Latin America in Sao Paulo.“NAFTA at risk...Read More
Iron ore prices edged up on Thursday March 15 amid improved sentiment following the release of data showing a drop in steel inventories in the Chinese market. Metal Bulletin's 62% Fe Iron Ore Index Today: $72.11 per tonne cfr Qingdao Daily change: up by $0.47 per tonne Month-to-date average: $73.95 per tonne Metal Bulletin's 58% Fe Premium Index Today: $57.71...Read More
The Russia-Britain spat needs to be closely watched. Any deterioration of relations between the two nations will be bullish for gold and bearish for the US dollar. Theresa May is using Russia as a way to divert attention from her political woes and Brexit fears. All international treaties and conventions have been broken by the UK over the killing of an ex spy. I am not even sure whether the UK...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump’s tough approach to global trade, including his new tariffs on metals imports, will not necessarily provoke a trade war, the White House’s top adviser on international economic exchanges, Peter Navarro, said during an interview on CNBC on Thursday.“We can obviously do it in a way that can be good for the American people and good...Read More
Full Article: Is Silver Set to Take Off?By: Darren BlasuttiSilver is set to rally, but only in the medium to long-term, said Darren Blasutti, CEO of Americas Silver Corp."I think we're particularly positive on silver, but I think we're out two or three years before we see that real change in silver, but we're very bullish right now on zinc and lead, and copper," Blasutti told Kitco News on the si...Read More
The seaborne iron ore market maintained its stability on Thursday March 15 amid a slight drop in steel inventories in China, with premiums for index-linked cargoes of 62% Fe Australian fines failing to rise as much as expected.Key drivers The slight drop in steel inventories gave the market some optimism about demand from downstream industries beginning its recovery. According to a local informati...Read More
Turkish import and export billet prices have increased, amid strong local demand and tightening supplies in the CIS region, sources said on Thursday March 15.Metal Bulletin's weekly price assessment for billet imports into Turkey was $560-570 per tonne cfr, up from $545-550 per tonne.There were several billet sales from the...Read More
Steel billet import prices and domestic rebar prices in Egypt increased again in the week ended Thursday March 15, with demand being better compared with previous weeks.Metal Bulletin's weekly price assessment for Egyptian billet imports rose to $550-565 per tonne cfr on Thursday from $530-545 per tonne cfr previously.An unconfirmed quantity of...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News)- InitialU.S. jobless claims fell by 4,000 to a seasonally adjusted 226,000 in theweek to Saturday, the Labor Department said Thursday.Consensusforecasts compiled by various news organizations called for initial claims tobe around 228,000 to 229,000. The government revised the prior week's tally to 230,000claims f...Read More
Active trading and gains in the futures market failed to push up China's domestic rebar prices on Thursday March 15, with sellers more anxious about de-stocking. Domestic Eastern China (Shanghai): 3,790-3,850 yuan ($600-609) per tonne, unchanged Northern China (Beijing): 3,900-3,930 yuan per tonne, unchanged Buyers stepped up their procurement rates slightly following gains in the futures market d...Read More
WASHINGTON (Reuters) - The Trump administration and Republicans in Congress are seeking to make temporary personal income tax cuts passed last year permanent, White House spokesman Raj Shah said on Thursday, adding they could also lower capital gains tax rates.Shah, in an interview on Fox Business Network, said details were still being worked out on a potential second tax cut bill that would follo...Read More
WASHINGTON (Reuters) - Influential Republican U.S. lawmakers joined Democrats to urge President Donald Trump on Thursday to take action - including spending millions of dollars allocated by Congress and staffing a key “information warfare” unit - to stop Russian efforts to undermine American national security in cyberspace.The New York Times reported on March 4 that the State Departmen...Read More
Norwegian ferro-silicon producer Finnfjord Smelteverk will cut about 5,000 tonnes of production between April and June of this year because of planned maintenance to its furnaces, according to an industry source.The company, which has its plant in the north of the country, operates three furnaces, one with capacity for 20,000 tonnes per year and two with capacities for 40,000 tpy."Maintenance shou...Read More
Vancouver-based First Quantum Minerals (TSX:FM)(LON:FQM) denounced that some workers and leaders from an outside union have been carrying out protest actions since March 9, 2018, which have "reduced the level of work being performed on the [Cobre Panama] project."The information was provided by First Quantum in a media statement and also during a press conference held today by representatives of M...Read More
(Reuters) - E-commerce giant Alibaba Group Holding Ltd (BABA.N) is working on a plan to list on a stock exchange in its home country, China, the Wall Street Journal reported on Thursday, citing people familiar with the matter.Alibaba is evaluating ways in which its shares could be traded by investors on the mainland, the newspaper reported on.wsj.com/2peqrpb, adding that a secondary listing in C...Read More
Spot prices for European molybdic oxide and ferro-molybdenum have eased in Metal Bulletin's midweek assessment, with dealers booking profits after a market rally for much of the year to date.Market participants expect the move to persist in the near term, with lower spot prices already being offered and expected to be booked soon, they said.Oxide prices have dropped on around 140 tonnes of reporte...Read More
At the end of February Morgan Stanley sent shares of lithium producers and explorers tumbling after the investment bank forecast a huge surplus in the market for the battery raw material in 2022, resulting in forecast prices nearly halving from today's levels.The negative assessment raised eyebrows in the industry with executives criticizing Morgan Stanley for vastly underestimating the rise in de...Read More