Prices for hollow steel sections in Europe were unchanged this week due to various public holidays reducing the amount of trading activity, sources told Fastmarkets on Wednesday June 3.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?550-570 ($614-636) per tonne on Wednesday, unchanged week on week.The market was quiet this week due to p...Read More
The price for steel H-beams in Europe remained flat on Wednesday June 3 due to various public holidays and the start of the regular monthly price negotiations, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?530-550 ($591-614) per tonne on Wednesday, unchanged week on week.The market was quiet this week due to public h...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 3 that are worth another look.Mills in India and Pakistan have returned to the market for bulk scrap and have booked cargoes from the United States over the past few days, sources told Fastmarkets on June 3.Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama rose by 4% mont...Read More
Turkish steel producers have continued to book more deep-sea scrap cargoes at steady prices, sources told Fastmarkets on Wednesday June 3.A steel mill in the Izmir region booked a US cargo, comprising shredded scrap at $259.50 per tonne and plate & structural scrap (P&S) at $264.50 per tonne cfr late on Tuesday June 2. The cargo's composition and volumes were not clear at the time of publicat...Read More
Seaborne iron ore prices were mostly flat at a high price level on Wednesday June 3 with the seaborne market continuing to be active in low-grade and mid-grade iron-ore fines trading, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $101.22 per tonne, down $0.10 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $104 per tonne, down $0.13 per tonne. 58% Fe fines high-grade premi...Read More
Iranian export billet prices narrowed upward in the week to Wednesday June 3 with more mills managing to achieve higher sales prices.Last week, Khouzestan Steel, the country's major billet exporter, sold several cargoes scheduled for delivery in July at $364 per tonne fob Iranian ports.Some market participants said that such a level would be accepted only for position cargoes, estimating the worka...Read More
China's domestic rebar prices strengthened further on Wednesday June 3 on market participants' positive outlook for demand over the next few months. Domestic Eastern China (Shanghai): 3,610-3,640 yuan ($508-512) per tonne, up by 20 yuan per tonneThe Chinese finance ministry said that the country had issued 3.2 trillion yuan of local bonds in the first five months of 2020, up by 65.1% year on year....Read More
Stefan Gleason, Money Metals ExchangeJust when it seemed as though America may be turning the corner after months of lockdown... just when it seemed as though we were on a path to reopening and gradually returning to normalcy... just when the prospects of panic-induced social unrest seemed to be behind us......America's cities erupted into flames.Antifa and BLM-organized rioting, looting, violen...Read More
With the nation in deep crisis, stocks continued on their heedless path higher. The seemingly demented rally is demonstrating yet again that bull markets at some point decouple so completely from reality as to mock those who thrive by promoting them. By now, the spun story that investors are looking past the pandemic and focusing on renewed growth is sounding increasingly farfetched. Some econom...Read More
By: Gary SavageThe US Dollar Index has broken through support and is heading lower. Where to next?https://blog.smartmoneytrackerpremium.com/Read More
Steve St. Angelo, SRSrocco Report What goes up, must come down. And, this is most certainly true for the mighty North Dakota Bakken... the second-largest shale oil-producing region in the United States. Even after the global contagion fades away, the North Dakota Bakken has likely reached peak production. According to a new chart by Jean Laherrere, from his recent work titled, Negative WT...Read More
By: Ira Epstein18-day moving average near 1740, strong support in the lower $1700's:Read More
British Steel will suspend production at its Skinningrove site for three weeks from June 13, the company said on Tuesday June 2. The company said trading conditions remain challenging, including for products manufactured at the special profiles business in Skinningrove and they have now taken the...Read More
Gold Terra Resource is now defining the targets for its upcoming program. Gold Terra Resource Corp. (YGT:TSX.V; TRXXF:OTC; TXO:FRANKFURT) announced in a news release that in H2/20 it intends to drill test various targets at the high-grade Campbell Shear zone of its Yellowknife City gold project in the Northwest Territories."The second half of 2020 will be the most exciting time for Gold Terra as...Read More
In light of pandemic conditions, government reactions and the impacts of both on financial markets, Mercenary Geologist Mickey Fulp describes his investment strategy to Maurice Jackson of Proven and Probable. Maurice Jackson: Joining us for conversation is Mickey Fulp, the world-renowned Mercenary Geologist. I want to speak to you today about the mainstream financial news networks and the narrat...Read More
Steve Palmer, president and chief investment officer of AlphaNorth Asset Management, outlines why he believes Canadian companies on the TSX Venture Index remain good investments in a time of pandemic uncertainty. We believe that the COVID-19 lockdown has been a catalyst for the TSX Venture index (TSX.V) to outperform. After a decade of underperforming the major equity indices the TSX.V has led r...Read More
Prices for hollow steel sections in Europe were unchanged this week due to various public holidays reducing the amount of trading activity, sources told Fastmarkets on Wednesday June 3.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?550-570 ($614-636) per tonne on Wednesday, unchanged week on week.The market was quiet this week due to p...Read More
Continued protests and civil unrest has done little to deter investorsBetter-than-expected economic data, most notably an impressive employment data report, bolstered optimism over the recovery of the economy as coronavirus-related lockdowns continue to ease. As a result, the Dow added 527 points, and locked in a third consecutive gain. Despite the civil unrest that continues to grip the U.S., the...Read More
Edwards Lifesciences is one of the best healthcare stocks to own in June, historicallyLast week, we looked at a list of the best performing S&P 500 stocks in June, going back 10 years, courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. Today, we'll be breaking down another name on the list, medical supply manufacturer Edwards Lifesciences Corp (NYSE:EW), which is also flashing a hist...Read More
DHR's options can be had for a bargain at the momentMedical technology provider Danaher Corporation (NYSE:DHR) has pulled back to its 40-day moving average, a historically bullish trendline. This area also happens to coincide with the 20% and year-to-date breakeven levels. So with the shares flagging in a cup-and-handle bullish pattern, and additional levels of support on the charts, there's reaso...Read More