US wire rod mills have shrugged off a $10-per-gross-ton decline in Chicago shredded scrap to keep steel rod prices flat, market participants said. American Metal Market kept its domestic industrial-quality rod price flat, at $38-$40 per hundredweight, in an assessment on Wednesday May 9. Buyers polled by American Metal Market saw prices in a range of $37-41.50 per cwt, although the $37 per cw...Read More

WASHINGTON (Reuters) - The U.S. International Trade Commission said on Thursday it had made a preliminary finding that U.S. producers were being harmed by imports of steel automotive wheels from China.The decision follows an announcement last month by the U.S. Commerce Department that it had opened an investigation to determine if certain steel wheels from China are dumped in the United States and...Read More

CNN just ran an article entitled, "Don't trust the polls? You should. They've been fairly accurate so far this election cycle," and The Resident can't even. Read More

By Amrith Ramkumar and David Hodari Gold prices climbed Thursday with the dollar sliding after data showed U.S. consumer prices rose less than expected in April, though on an annual basis, inflation showed signs of firming. Front-month gold for May delivery rose 0.7% to $1,320.80 a troy ounce on the Comex division of the New York Mercantile Exchange to snap a three-session losing streak. Prices...Read More

Other than crude oil, none of the financial markets have reacted to Iran's nuclear deal cancellation news. The Bank of England (BOE) meeting today can provide the impetus for a trend change in currency markets as well as precious metals. Sterling can rise just before the BOE meeting or just after the BOE meeting. However if sterling falls after the BOE meeting gold will also crash. Right now g...Read More

Analysts remain bullish on the biotech stockExelixis, Inc. (NASDAQ:EXEL) stock is down 11.8% to trade at $19.13 this morning, after the biotech company's colorectal cancer drug that was tested in combination with Roche's Tecentriq failedlate-stage study goals. Exelixis said it will continue to work with Roche in evaluating the treatment on other tumor types. In response to the failed study, RBC a...Read More

(Kitco News)- Initialweekly U.S. jobless claims remain near their lowest level in 49 years, with aseasonally adjusted data remaining unchanged at 211,000 in the week toSaturday, the Labor Department reported.Consensusforecasts compiled by various news organizations had called for initial claimsto be around 219,000. The government left the prior week's tally unrevised at211,000. Meanwhile,the four-...Read More

The Supreme Court has agreed to hear the case of Janus vs AFSCME. The expected outcome will reduce public unions.Continue...Read More

Buying activity in the European long steel markets is likely to remain cautious because of weak demand and relatively high stock levels among consumers, market sources told Metal Bulletin this week.Rebar consumption is expected to rise with the weather improving through May and construction projects ramping up, but public holidays in several areas across Europe during the month could damp any poss...Read More

Junior explorer Megastar Development (TSXV: MDV) announced today that it has signed a Definitive Option Agreement with Paradex, a private American mining exploration company, and Minera Zalamera, a private Mexican mining exploration company, to acquire 100% interest in the mineral concessions known as the Rama de Oro project located in the state of Oaxaca, southern Mexico.In a press release, Megas...Read More

By Amrith Ramkumar and David Hodari Gold prices climbed Thursday with the dollar sliding after data showed U.S. consumer prices rose less than expected in April, though on an annual basis, inflation showed signs of firming. Gold for June delivery rose 0.7% to $1,322.30 a troy ounce on the Comex division of the New York Mercantile Exchange. Prices have stayed between about $1,305 and $1,360 an ou...Read More

The streaming name reported a narrower-than-expected Q1 lossShares of Roku Inc (NASDAQ:ROKU) have jumped 5% to trade at $37.88, after the streaming player provider reported a first-quarter adjusted loss of 7 cents per share -- slimmer than the 15 cents per-share loss analysts were expecting. The company also brought in a better-than-expected $136.6 million in revenue, said software revenue outpace...Read More

As Australia struggles to maintain its unprecedented 104-quarter-long streak of uninterrupted economic growth, lawmakers are intensifying the Continue...Read More

WASHINGTON (Reuters) - U.S. President Donald Trump said on Thursday he will meet with North Korean leader Kim Jong Un on June 12 in Singapore for a first ever summit between the leaders of the two countries.“The highly anticipated meeting between Kim Jong Un and myself will take place in Singapore on June 12th. We will both try to make it a very special moment for World Peace!” Trump s...Read More

(Bloomberg) - Randgold Resources Ltd. is confident that talks with the Democratic Republic of Congo will lead to a compromise on the country's new mining rules which risk hurting producers' profits.Miners including Glencore Plc and Randgold have asked the government to dial back aspects of the legislation approved by President Joseph Kabila in March. They argue the new code will drive investors a...Read More

IronRidge currently has one drill rig out at the Ewoyaa lithium project in Ghana as part of a 7,000m programme, which CEO Vince Mascolo said was a big moment for the explorer.Read More

The export market for pig iron from the Commonwealth of Independent States was quiet this week because sellers and buyers preferred to wait to see whether prices would fall, sources told Metal Bulletin on Thursday May 10."The busheling-grade scrap price in the United States didn't decrease, while shredded scrap went down by $10-20 [per tonne] in May. That could cause a reduction in pig iron prices...Read More

SHANGHAI, May 11 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar fell overnight after the April consumer-price inflation data came in weaker than expected. The US dollar index closed at 92.71, down 0.42%.Base metals saw mixed trading. LME copper gained 1.5% as inventories declined. LME lead nudged up while tin lost 1.6% and...Read More

Cabot stock has been under pressure from the 50-day moving averageCabot Oil & Gas Corporation (NYSE:COG) is trading lower this morning, after receiving a downgrade to "underperform" from "buy" and a price-target cut to $27 from $33 at BofA-Merrill Lynch. This bear note comes just days after crude pushed to fresh highs above the $70-per-barrel mark, mostly due to President Donald Trump's decision t...Read More

(Kitco News)- Gold prices have pushed to near session highs as U.S.inflation pressures remain muted.Thursday, the U.S. Labor Department said its U.S. Consumer Price Index rose 0.2%in April, after decreasing 0.1% in March. The increase was weaker than expectedas consensus forecasts were calling for a 0.3% rise.Forthe year, the report said that annual headline inflation increased 2.5%, drivenmostly...Read More