China's hot-rolled coil market maintained its upward momentum on Thursday February 21, with sellers continuing to make attempts to prop up prices amid rising costs.DomesticEastern China (Shanghai): 3,760-3,790 yuan ($559-563) per tonne, up 40 yuan per tonneNorthern China (Tianjin): 3,690-3,700 yuan per tonne, narrowing upward by 20 yuan per tonneSellers in Shanghai started selling at around 3,790...Read More

It's an incredibly unloved stock.Perhaps that's why I like it so much.Supreme Cannabis (TSX: FIRE)(OTCBB: SPRWF), a Canadian cannabis player, announced earnings last week and absolutely crushed it.The company narrowed losses, improved margins, and boasted a revenue increase of 359%.But investors yawned. Or rather, they were preoccupied with two other cannabis companies that were also announcing ea...Read More

Bluestone Resources Inc. (TSXV:BSR, OTCQB:BBSRF) is a mineral exploration and development company that is focused on advancing its 100%-owned Cerro Blanco Gold and Mita Geothermal projects, located in Guatemala. A Feasibility Study on Cerro Blanco returned robust economics, with a quick pay back and an average annual production projected to be 146,000 ounces per year, over the first three years of...Read More

Here are five Fastmarkets MB stories you might have missed on Thursday February 21 that are worth another look.Canada has established surtax-free quotas for imports of energy tubular products and wire rod originating from Mexico effective from February 2, an official from Canada's Ministry of Finance said.French mining and metallurgy company Eramet generated lower operating income f...Read More

Idaho Champion Gold Mines Canada Inc. (CSE: ITKO) is a discovery-focused gold exploration company that is committed to advancing its 100% owned, highly prospective, mineral properties, located in Idaho, USA. The Baner Project is in Idaho County, the Champagne Project is located in Butte County, near Arco, and four cobalt properties in Lemhi County, in the Idaho Cobalt Belt. At the 2019 Vancouver R...Read More

Steelmaker Gerdau will halt operations for 60 days at blast furnace No1 at its Ouro Branco mill in the south-eastern Brazilian state of Minas Gerais, starting in early June 2019, the company said on Thursday February 21.The company does not expect the stoppage to affect sales volumes because it is already building up the inventory necessary to continue regular supplies to customers, chief executiv...Read More

(Updates prices) * Dollar gains after Fed minutes * Profit-taking weighs on palladium after record surge * Investors focus on U.S.-China trade talks * GRAPHIC-2019 asset returns: By K. Sathya NarayananFeb 21 (Reuters) - Gold slipped on Thursday from a 10-monthhigh hit in the previous session after minutes from the U.S.Federal Reserve's last meeting kindled expectations of aninterest rate hike this...Read More

Turkish domestic rebar and wire rod prices have continued to weaken due to the sluggish demand in the country, sources said on Thursday February 21.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,100-3,150 ($584-594) per tonne ex-works on February 21, down from last week's TRY3,180-3,250 per tonne.Domestic rebar prices in the Izmir and Karab? 1/4 k regions were TRY3,100-...Read More

West Fraser Timber (Mostly Sunny; WFT) gapped down 2.23% on February 13th after reporting Q4 results after the close on the 12th. Although it traded as low as $67 on the day, it managed to close towards the high end its range at $72.78. However, the stock has continued to slide in the days since. The question is: will it be able to gather some steam and make a rebound?The stock, which is a member...Read More

The market for pig iron exports from the Commonwealth of Independent States (CIS) remained strong but restocking activity slowed down during the week ended Thursday February 21, sources have told Fastmarkets.Fastmarkets' price assessment for CIS exports of high-manganese pig iron was $335-340 per tonne fob Black Sea on February 21, unchanged week on week.Only small bookings to trading companies we...Read More

The Turkish scrap import market was quiet on Thursday February 21 because of the sluggish markets for finished and semi-finished long steel and the subsequent downturn in prices.This week's only transaction so far was a UK cargo sold at $316 per tonne cfr for HMS 1&2 (80:20) on Wednesday. After this, the market prices went down by around $8-9 per tonne.The mills were showing almost no buying inter...Read More

Iron ore prices continued to retreat on Thursday February 21, with Chinese steelmakers cautious abouthigh costs.MB 62% Fe Iron Ore Index: $86.68 per tonne cfr Qingdao, down $1.32 per tonne. MB 62% Fe Pilbara Blend Fines Index: $86.08 per tonne cfr Qingdao, down $1.32 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $88.36 per tonne cfr Qingdao, down $0.74 per tonne. MB 58% Fe Premium Index: $77.23...Read More

Steel billet prices in the Turkish markets have been weakening over the past seven days because of softening demand and the latest downturn in scrap prices, sources said on Thursday February 21.Fastmarkets' weekly price assessment for billet imports into Turkey was $450-473 per tonne cfr on February 21, down from last week's $475-480 per tonne.Only one cargo from the CIS region to Turkey was heard...Read More

Steel billet import prices in Egypt have decreased over the past seven days with demand being weak, sources told Fastmarkets on Thursday February 21.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $480-490 per tonne cfr on Thursday, falling from $485-495 per tonne cfr last week.Billet producers in the CIS region offered the material to Egypt at $490-495 per tonne...Read More

Major Vietnamese integrated steel producer Formosa Ha Tinh Steel has increased its new hot-rolled coil offers by $40 per tonne for April-delivery and shipment cargoes due to the recent increases in raw materials costs.The producer's SAE1006 HRC is now on offer at $535 per tonne on a cif basis, up $40 per tonne from $495 per tonne cif for iMarch-shipment materials. And its SS400 and pipemaking...Read More

* Official says approval could take 6 months to two years* Comments come from state resources investment commissioner* Decision on approvals to come from environment department* Queensland Resources department says official has no authority to speak on timelines (Adds statement from Queensland mines department, recasts)India's Adani Enterprises might have to wait up to two years to get two environ...Read More

By Avi Gilburt, ElliottWaveTrader.net There is an old Yiddish expression called a bubbe meise (pronounced my-seh). I guess the closest English interpretation of this expression would be a grandmother's tale, or in the common vernacular, an old-wives' tale.Of late, I am seeing a bubbe meise about the importance of central bank buying of gold, and it is making its rounds on websites all over the i...Read More

By: Ira EpsteinGold continues to trend with lower-lows, higher-highs. In a resistance area. The gold market is overbought. Gold stocks - $GDX - also back up into upper resistance and overbought as well. That does not mean in a downtrend...Read More

By: Ross Norman, Sharps PixleyGold's relative strength indicator is at the 73, highest since September 2011 - the month that gold hit an all-time high. This may suggest that gold is technically "overbought" just now, but it is also at a level we saw regularly back in the early 2000's when gold was starting a bull run with a 16% year on year increase, well before the Global Financial Crisis.There...Read More

AAPL, not long ago the one true love of fund managers, has been a conspicuous laggard since the broad averages trampolined off December's lows. It is only in retrospect that we can see how they might have contrived, albeit with only modest success, to ignore the stock's big problem, which is that the company's ridiculously overpriced phones are poorly positioned to compete against increasingly a...Read More