AI
Thursday, December 12, 2019 9:12:29 AM
Steel prices jumped as much as 13% to 4,240 yuan per tonne on Thursday, the highest since May 15th, on expectations of stronger demand from top consumer China amid recent economic stimulus. Steel is one of the world’s most important materials used in construction, cars and all sorts of machines and appliances. Historically, Steel reached an all time high of 4960 in October of 2018.
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Sunrise with Maverick
On deck with Mav having coffee this fine morning
Palladium Is Now More Expensive Than Gold Has Ever Been
By Elena Mazneva
December 12, 2019, 4:54 AM MST
Palladium rose for a 15th day, heading for its longest run of gains on record, and exceeding the highest-ever price of gold.
Spot palladium jumped Thursday to a record of $1,933.66 an ounce, extending its year-to-date gains to 53%. Prices have been driven by supply concerns as mines in South Africa, the world’s No. 2 palladium producer, were shut down for 24 hours this week because of electricity shortages. State power utility Eskom Holdings SOC Ltd. is still implementing rolling blackouts, although at a lower level.
“It seems that nothing can slow palladium,” said Daniel Briesemann, a Commerzbank AG analyst. “Even though we regard the steep price rise as exaggerated, there is no end in sight to the rally.”
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Never been a better PALL,IMPUY
Steel at cusp Maybe a DTX23play this morn?
OIL (cusp)
Oil market to remain oversupplied despite OPEC+ pact, says IEA
Noah Browning
LONDON (Reuters) - Global oil inventories could rise sharply despite an agreement by OPEC and its allies to deepen output cuts as well as lower expected production by the United States and other non-OPEC nations, the International Energy Agency (IEA) said on Thursday.
Trade Deal News Courtesy goforthebet
Dovish Fed and tariff decision
Building on yesterday's gains, Dow and S&P 500 futures are up 0.2% and Nasdaq futures are ahead by 0.5%, after the Fed held rates steady and signaled little chance of a near-term move. "Our economic outlook remains a favorable one, despite global developments and ongoing risks," Jerome Powell said in a statement. President Trump also meets his senior trade team in Washington today about planned Dec. 15 tariffs on nearly $160B in Chinese imports. Many had already expected a Phase One trade deal, but the question now appears to be whether Washington will delay the duties or let them take effect.
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Whats ya listening to Maverick?
CQs
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Sunrise with Maverick
On deck with Mav having coffee this fine morning
Palladium Is Now More Expensive Than Gold Has Ever Been
By Elena Mazneva
December 12, 2019, 4:54 AM MST
Palladium rose for a 15th day, heading for its longest run of gains on record, and exceeding the highest-ever price of gold.
Spot palladium jumped Thursday to a record of $1,933.66 an ounce, extending its year-to-date gains to 53%. Prices have been driven by supply concerns as mines in South Africa, the world’s No. 2 palladium producer, were shut down for 24 hours this week because of electricity shortages. State power utility Eskom Holdings SOC Ltd. is still implementing rolling blackouts, although at a lower level.
“It seems that nothing can slow palladium,” said Daniel Briesemann, a Commerzbank AG analyst. “Even though we regard the steep price rise as exaggerated, there is no end in sight to the rally.”
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Never been a better PALL,IMPUY
Steel at cusp Maybe a DTX23play this morn?
OIL (cusp)
Oil market to remain oversupplied despite OPEC+ pact, says IEA
Noah Browning
LONDON (Reuters) - Global oil inventories could rise sharply despite an agreement by OPEC and its allies to deepen output cuts as well as lower expected production by the United States and other non-OPEC nations, the International Energy Agency (IEA) said on Thursday.
Trade Deal News Courtesy goforthebet
Dovish Fed and tariff decision
Building on yesterday's gains, Dow and S&P 500 futures are up 0.2% and Nasdaq futures are ahead by 0.5%, after the Fed held rates steady and signaled little chance of a near-term move. "Our economic outlook remains a favorable one, despite global developments and ongoing risks," Jerome Powell said in a statement. President Trump also meets his senior trade team in Washington today about planned Dec. 15 tariffs on nearly $160B in Chinese imports. Many had already expected a Phase One trade deal, but the question now appears to be whether Washington will delay the duties or let them take effect.
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Whats ya listening to Maverick?
CQs
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