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Metals News and Commentary

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Sun, Jun 4th, 2023
Novelis to Supply Aluminum Beverage Can Sheet to Coca-Cola

The supply will be made from various plants including the Bay Minette, Alabama plant, which is expected to start commissioning in 2025.

ALQ23 : 2,271.75s (-1.17%)
Q8N23 : 2,253.71s (-1.37%)
R8M23 : 1,960.50s (unch)
ALPAUSY15.CM : 0.6939 (unch)
ALPAUSY51.CM : 0.4211 (-0.21%)
Scrap Steel Prices: Weekly Market Report –2nd June, 2023

The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on 1st June, 2023 stood at $375.00 per tonne.

Nucor Signed Carbon Capture and Storage Agreement with ExxonMobil

The project is expected to kick start in 2026 and will help Louisiana achieve its net-zero carbon emissions goal by 2050.

HVM23 : 940.00s (+0.53%)
THM23 : 525.00s (unch)
C-V23 : 374.50s (-0.13%)
V7V23 : 550.50s (+2.32%)
V5M23 : 970.00s (-6.01%)
FSPAUSY41.CM : 8.7550 (unch)
FSPAUSY46.CM : 7.9400 (unch)
SSPAUSY39.CM : 0.2463 (-1.24%)
1st June, 2023: Scrap Gold Prices Surged, Platinum Dipped, Silver Unmoved

In the Hallmarked category, the 14 carat gold scrap prices were up by $ 6.78 per Oz.

Scrap Copper Prices: Weekly Market Report- 2nd June, 2023

The LME Copper Cash Settlement contract prices increased from $8,017.00 a day before to $8,210.50 per tonne.

DRI and Indian Coast Guard’s Joint Operation Foils Gold Smuggling Attempt

The boat used for smuggling was also seized.

GCQ23 : 1,969.6s (-1.30%)
GRQ23 : 1,969.6s (-1.30%)
1st June, 2023: North American Scrap Metal Prices Surged on Index

309 SS and 310 SS prices increased by $0.02 per Lb and $0.03 per Lb respectively on a daily basis.

China: A Gold Bullion Investor’s Best Friend?

An insight into a recent Chinese government incentive which will have a significant impact on the physical gold bullion market. The policy shares parallels with a similar initiative seen in 2010 which...

Scrap Aluminum Prices: Weekly Market Report- June 2nd, 2023

The LME Aluminum Cash Settlement contract edged higher from $2,255.00 a day before to $2,281.00 per tonne.

B.C. Court Approves Sale of Red Lake Mine

Now, West Red Lake Gold Mines says the transaction is expected to close on June 28, 2023.

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Top 10 Most Mentioned Symbols on WallStreetBets over the last week were: 1) $NVDA 2) $SPY 3) $QQQ 4) $TSLA 5) $SOFI 6) $V 7) $CRM 8) $AAPL 9) $PLTR 10) $AMD Source: Quiverquant
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Nasdaq has finished in the green for 6 consecutive weeks, the longest weekly winning streak since January 2020. That feels bullish 🐂 https://t.co/7gExsX7H6G
Barchart
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ETFs w/ most active options trading: $SPY - 10.751M $QQQ - 3.009M $IWM - 2.072M $EWZ - 423k $HYG - 399k $TQQQ - 388k $FXI - 322k $EEM - 312k $TLT - 233k $UVXY - 217k $SQQQ - 211k $KRE - 200k $XLF - 185k $GLD - 180K $XLE - 179K $DIA - 145K $VXX - 130K $EFA - 119K $SOXL - 110K
Barchart
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Stocks w/ most active options trading: $TSLA - 3.865M $AAPL - 1.420M $NVDA - 1.375M $AMZN - 1.110M $AMD - 593k $GOOGL - 451k $PLTR - 437k $META - 433k $MSFT - 404k $BAC - 395k $SOFI - 371k $BABA - 294k $NFLX - 288k $AI - 256k $DIS - 247k $NIO - 240k What options did you trade?
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% of Large Cap Stocks Above Their Moving Averages https://t.co/GzLPZc9SFP
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Shadow Banks now control $239 trillion, almost half of the world's total financial assets. This number has more than doubled since the Global Financial Crisis 👀 https://t.co/B8K0o3MfEE
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Dow Jones Industrials finished the day up 2.12%, the largest gain of the year since January 6 when it finished in the green by 2.13% https://t.co/LeycYhJULo
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CBOE Volatility Index $VIX closes at lowest price since before the pandemic https://t.co/Xbk9WObpYf
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Stock Market Fear & Greed Index = 65 (Greed) Shouldn't this be Extreme by now? 🤔 https://t.co/eoWe6x0v7W
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Trust in the Federal Reserve Chair - Visualized https://t.co/oUapSUYpom
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Today's Futures Heat Map Strongest: Lean Hogs, Russell 2000 E-Mini, Soybean Oil, Pork Cutout Weakest: Milk, Gold, Coffee, Orange Juice https://t.co/HTK5CDsdr9
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What price will Gold hit first?
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Stocks Rally As U.S. Default Concerns Recede And Wage Pressures Ease Related Stocks: $VZ $T $CAT $DISH https://t.co/LApZeX8SD7
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4 Stock Market Morning Movers: $LULU $MDB $S $IOT Check out the Details 👇 https://t.co/3vsWhRizc8
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Markets Today: Stocks Gain As Senate Passes Debt Ceiling Bill Related Stocks: $LULU $COST $DELL $BABA https://t.co/arAqcB1frp
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Barchart
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ETFs w/ most active options trading: $SPY - 9.279M $QQQ - 2.943M $IWM - 918k $HYG - 494k $TQQQ - 292k $GDX - 230k $UVXY - 230k $KRE - 224k $TLT - 218k $SQQQ - 204k $EWZ - 179k $EEM - 145k $XLE - 136k $SLV - 126k $SOXL - 115k $GLD - 103k $XLF - 88k $KWEB - 81k $VXX - 79k $UNG-75k
Barchart
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Stocks w/ most active options trading: $TSLA - 2.493M $NVDA - 1.235M $AAPL - 1.052M $PLTR - 756k $AMZN - 675k $AMD - 609k $META - 582k $SOFI - 550k $AI - 527k $MARA - 399k $BABA - 372k $MSFT - 315k $GOOGL - 306k $CVNA - 293k $NFLX - 287k $CHPT - 250k What options did you trade?
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NYU Finance Professor Aswath Damodaran sold 50% of his Nvidia $NVDA shares because he believes the run-up has been so astonishing that he couldn't continue to call himself a value investor if he held it all https://t.co/PaX2o1t0yV
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% of Large Cap Stocks Above Their Moving Averages https://t.co/Wvbgd4APPw
Barchart
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That's a heck of a candle for Lululemon $LULU https://t.co/sSEDMmdOZE
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Not much fear left in the market as the CBOE Volatility Index $VIX finished the day at 15.65, the lowest closing price since November 4, 2021 https://t.co/sySrvgcQK6
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Is it Time to Buy Copper? https://t.co/NooKeDT12g
Barchart
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Stock Market Fear & Greed Index = 68 Extreme Soon? 🥳🤑 https://t.co/kdx8CGafVn

Barchart Metals News

Dollar Pushes Higher on Strong U.S. Payrolls
The dollar index (DXY00 ) on Friday rose by +0.42%. The dollar Friday recovered from a 1-week low and posted moderate gains as T-note yields jumped on the larger-than-expected increase in U.S. May nonfarm payrolls. The dollar Friday initially fell to a 1-week low after the Senate Thursday night passed... Read more

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Oracle Corp (ORCL)

The Chart of the Day belongs to the software company Oracle (ORCL) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature...
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