Ag & Industrial Minerals

Ferrous scrap plays catch up after steel’s dramatic tumble

Ferrous scrap prices have crashed over the past five weeks, finally coming more in line with weakened steel prices, which have fallen by a larger magnitude since the middle of 2018. Using CFR Turkey scrap as a gauge, spot prices of HMS I/II 80:20 have fallen $136.5/mt from their peak in March 2018 ...

US Open – Trade War optimism, ECB disappoints, Oil’s supply headache, Gold’s bright future

US and China are showing signs of generosity as we approach a critical stage in the trade war, which could be President Trump’s last attempt to get a deal done before the 2020 election.  Trump’s decision to push back a 5% tariff bump from October 1st to October 15th excited markets that we cou ...

Oil Supply Outlook: Is Your Barrel Half Full or Half Empty?

Sentiment in the oil market can at best be described as depressed. Implied demand at the end of 2018 through mid-2019 suffered as the effects of trade tensions and the manufacturing slowdown sapped demand for refined petroleum products. Most macro forecasts are calling for oil surpluses in 2020 due ...

IMO 2020 and the Forties de-escalator in Dated Brent

The International Maritime Organization’s decision to cap the sulfur level of global marine fuels on January 1, 2020 has been the dominant story in the oil markets for the last two years. Among the many questions raised by the imminent 0.5% cap on sulfur in marine fuels, some crude oil market par ...

A Global Surge!

This week, the markets followed through on some big moves that started during the last week of August. Across the globe, almost every major market was kicking higher. The Canadian market had a little underperformance due to the strong declines in precious metal stocks. Meanwhile, some of the most e ...

Big Changes in the Index and Sector Breath Models

It was a big week for stocks and the breadth indicators backed up the bullish price action. The S&P 500 SPDR (SPY) broke out of its August range to signal a continuation of the bigger uptrend. Even though the Index Breadth Model turned bearish in mid August, the S&P 500 indicators remained net bull ...

Add The X-Factor To China Trade Tensions

This week, China agreed to continue negotiations on the China-US trade deal. While that is news that the market can look forward to seeing play out, it definitely helped the charts technically. Thus, the indexes look set to take a run at the nearby highs. But the areas of the markets that I am lo ...

Four Keys to Finding Meaningful Bullish Reversal Patterns - with Two Live Examples

Major bullish reversal patterns signal the start of new up trends that can extend and be very profitable. However, chartists must first learn to distinguish between meaningful patterns and irrelevant patterns. Here's how... There are three parts to a major bullish reversal pattern. First, there is ...

Fujairah eyes growth in bunkering, oil storage and refining

Ahead of the S&P Global Platts Asia Pacific Petroleum Conference (APPEC 2019), Insight presents a series of articles exploring aspects of the global trade in crude oil and refined products. In the final instalment instalment, Dania EL Saadi reports on developments at the UAE’s port of Fujairah, a ...

S&P 500 Leads Breadth Charge

The S&P 500 and SPY are challenging their August highs again and large-cap breadth is stronger than breadth in mid-caps and small-caps. Since we seem to be on a day-to-day situation with the S&P 500 and this trading range, I will provide another short-term breadth update. After a mild decline on T ...