By: Gary SavageThe Odds Are Very High That the Daily Cycle Has ToppedRead More

We've been monitoring Apple shares closely because they look very likely to rise at least 10% above their current $220 price before bulls are spent. AAPL is a powerful engine for the bull market, and a big rally in the stock would all but ensure that the broad averages get dragged higher or at least remain buoyant. The chart shows another reason why it may be premature to bet against the aging...Read More

The inter-merchant spot market for UK light iron scrap fell again during the week ended Friday September 27 after briefly stabilizing the week before, with shredders cutting their offer prices and smaller suppliers matching that move.The market is expecting further price losses in the near term due to weaker steel sector demand, as well as lower prices in European export markets to Turkey and the...Read More

Indian domestic secondary billet prices in the week ended Friday September 27 fell by 600 rupees ($8) per tonne on subdued buying by finished product makers.The price of steel billet, domestic, ex-works India, assessed by Fastmarkets on September 27, was down by 600 rupees per tonne to 26,500-26,700 rupees ($374-377) per tonne compared with last week's assessment at 27,100-27,300 rupees per tonne....Read More

Barkerville Gold Mines was acquired this week for $257 million US by Osisko Gold Royalties.The company delivered a Preliminary Economic Assessment just last month, with an after-tax NPV (5%) of $310 million.This articles discusses how this acquisition stacks up against other takeovers over the past five years.Barkerville Gold Mines (OTCPK:BGMZF) was acquired this week by Osisko Gold Royalties (OR)...Read More

Pig iron shipments from the Commonwealth of Independent States, which cover almost two thirds of global exports, are expected to decrease in 2019 after reaching a peak in 2018 because suppliers are redirecting pig iron from the export market for captive use, sources told Fastmarkets.Over the first half of 2019, pig iron exports from Russia and Ukraine came to 3.5 million tonnes, according to data...Read More

A lesser volume of 3,925 tonnes flowed out of global LME warehouses at the same time, while 325 tonnes were freshly cancelled. LME aluminium stocks were 914,725 tonnes on the day.Fresh inflows of aluminium into London Metal Exchange-approved warehouses capped any gains in the light metal's three-month price at the afternoon close of trading on Friday September 27.The LME three-month aluminium pric...Read More

Physical iron ore fines prices were rangebound on Friday September 27 while the lump premium traded higher.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $90.85 per tonne, down by $0.06 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $91.24 per tonne, down by $0.06 per tonne.62% Fe low-alumina fines, cfr Qingdao: $90.46 per tonne, up by $1.01 per tonne.58% Fe fines high-premium, cfr Qin...Read More

Trading activity in the second-tier hard coking coal segment of the seaborne market emerged this week after several weeks of inactivity.Premium hard coking coal, fob DBCT: $132.73 per tonne, down $0.87 per tonnePremium hard coking coal, cfr Jingtang: $153.59 per tonne, unchangedHard coking coal, fob DBCT: $121.25 per tonne, down $1.25 per tonneHard coking coal, cfr Jingtang: $132.76 per tonne, unc...Read More

An earlier version of this story misspelled the first name of the chief analyst at ActivTrades. This has been corrected. AFP/Getty Images Gold futures settled higher on Thursday, a day after a surge by the U.S. dollar prompted the precious metal to suffer its worst daily decline in nearly three weeks. Gold moved higher "due to tepid, dovish GDP data" covering the second quarter, with the market an...Read More

Global scrap prices continued to fall in all of the major markets during the working week from Monday September 23 to Friday September 27, because of the limited demand for finished steel and widespread negative sentiment. Turkey booked more cargoes for November, prices down Cheaper Turkish cargoes drove down US prices on both coasts Price fall continuds in Southeast Asia amid bearish sentiment Tr...Read More

European austenitic alloy steel scrap prices dropped again this week, pressured lower by poor demand, sources told Fastmarkets on Friday September 27. Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK was ?780-820 ($963-1,012) per tonne on Friday, down by ?40-50 per tonne from a week earlier.This is the third consecutive week that decrea...Read More

A lesser volume of 3,925 tonnes flowed out of global LME warehouses at the same time, while 325 tonnes were freshly cancelled. LME aluminium stocks were 914,725 tonnes on the day.Fresh inflows of aluminium into London Metal Exchange-approved warehouses capped any gains in the light metal's three-month price at the afternoon close of trading on Friday September 27.The LME three-month aluminium pric...Read More

An overview of the battery raw materials markets and their latest price moves.Read More

The federal court in Bel?(C)m, Brazil, has lifted its final embargo on Alunorte's new bauxite residue disposal (DRS2) under a criminal lawsuit, Norwegian aluminium producer Norsk Hydro announced on Thursday September 26.The decision by the federal court to lift the DRS2 embargo under the criminal lawsuit comes after a similar decision on September 20 to lift the DRS2 embargo under a civil lawsuit....Read More

All base metal stocks at Shanghai Futures Exchange-approved warehouses, declined in the week to Friday September 27, attributed to active restocking to cover operations during China's week-long National Day holiday on October 1-7. Copper stocks registered the largest drop in percentage terms, falling by 17% or 23,924 tonnes to 117,455 tonnes as of Friday. The largest outflow in copper inventories...Read More

The London Metal Exchange three-month nickel price climbed up by 0.6% during morning trading on Friday September 27 to trade around $17,330 per tonne.Although the nickel price has consistently waxed and waned over the week, it remains well supported above $17,000 per tonne despite a 1,134-tonne inflow into the LME warehouse on the same day.The inflow, thought to be material delivered from China to...Read More

Base metals prices on the Shanghai Futures Exchange were mixed during the morning trading session on Friday September 27, with the complex continuing to be pushed and pulled by a firm dollar and signs of easing tensions between China and the United States.Positivity stemming from US President Donald Trump saying earlier this week that a trade deal with China could come sooner than people think pro...Read More

The transition to high-nickel "811" battery cathode chemistries will encourage adoption of electric vehicles (EVs), ultimately to the benefit of cobalt demand, according to panelists speaking at Fastmarkets' Battery Materials Conference in Amsterdam on Thursday September 26. Nickel-cobalt-manganese (NCM) 811 battery cathodes contain eight parts nickel for every one part of cobalt and manganese, co...Read More

The export price for Brazil-origin steel slab fell this past week after producers renewed offers at lower levels and buyers in the United States pushed for price reductions.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, was at $400-410 per tonne on Friday September 27, down from $420-435 per tonne fob a week earlier.Offers were reported at $400-410 per tonne fob...Read More