SHANGHAI, Feb 23 (SMM) – China’s metal scrap imports in January slumped to 490,000 mt, down 25.1% year on year, according to Chinese customs data. This also marked the lowest monthly level since February 2016.Copper scrap imports stood at 200,000 mt last month, down 27.5% from January 2017. Aluminium scrap imports were 190,000 mt, up 11% year on year, while steel scrap imports were dow...Read More
World's largest miner BHP Billiton (ASX, NYSE:BHP) (LON:BLT) has already lost 41,000 tonnes of copper production due to an ongoing strike at its Econdida mine in Chile, the world's largest.According to 24 Horas (in Spanish), there seems to be no end in sight for the stoppage, which completed 14 days Wednesday, following a failed government-mediated meeting between workers and the company held on...Read More
Caterpillar (NYSE:CAT), the world's No.1 heavy machinery maker, is telling miners not to rest on their laurels now that the industry is finally coming back up from a brutal downturn that forced companies to cost cuts and close down operations.In a presentation at the Society for Mining, Metallurgy & Exploration's (SME) meeting 2017 this week, the Peoria, Illinois-based firm (soon to move to Chic...Read More
What a difference a year has made for Anglo American (LON:AAL), the world's number five diversified miner, which joined BHP Billiton Tuesday in lifting the mining industry spirits by postings results that clearly signal the long-awaited recovery is already here.Only a year ago the company unveiled details of a radical "portfolio restructuring," which included the sale of its coal, iron ore, man...Read More
* Global stocks hit record high, Wall St seen opening lower* Markets await Fed minutes for rate hike clues* Sterling dips vs dollar after 2016 GDP growth revised down* Graphic: World FX rates in 2017 http://tmsnrt.rs/2egbfVhBy Nigel StephensonLONDON, Feb 22 (Reuters) - Global stocks hit record highs on Wednesday, topping 2016's gains just two months into 2017, while the dollar rose before Federal...Read More
Investing.com - Gold prices edged lower during European morning hours on Wednesday, as market players looked ahead to the minutes of the Federal Reserve's latest policy meeting for further hints on the timing and pace of future rate hikes.U.S. gold futures shed $3.65, or about 0.3%, to $1,235.35 a troy ounce by 3:05AM ET (08:05GMT), after ending Tuesday's session little changed. Spot gold was down...Read More
Feb 22 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 8 points on Wednesday, according to financial bookmakers.* The blue-chip FTSE index .FTSE closed down 0.3 percent at 7,274.83 points on Tuesday, dragged down by banking stocks as a week of full-year earnings releases for major listed banks began with a profit slump for HSBC. ANGLO AMERICAN: Anglo American (LON:AAL) AA.L said on...Read More
(Adds futures, company news items)Feb 22 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 8 points on Wednesday, according to financial bookmakers, with futures FFIc1 up about 0.1 percent ahead of the cash market open.* The blue-chip FTSE index .FTSE closed down 0.3 percent at 7,274.83 points on Tuesday, dragged down by banking stocks as a week of full-year earnings releases for major...Read More
SHANGHAI, Feb 22 (SMM) –Copper: While LME copper rebounded and hit a high at $7,144.5/mt overnight, a possibly stronger US dollar poses risks following the Federal Reserve Board’s hint of interest rates increase. We expect LME copper to trade at $7,050-7,160/mt today with SHFE copper at 52,500-53,500 yuan/mt today. In the physical market, spot discounts are seen smaller at 200-150 yuan...Read More
Not long ago, growth was the big thing. Listed oil and gas companies set aggressive production targets to woo investors, though few succeeded in hitting them. Value then usurped volume as the industry's Holy Grail. This results season suggests growth targets are making a come back.Pioneer has set a production target that fractures conventional wisdom. The US tight oil specialist estimates that its...Read More
Not long ago, growth was the big thing. Listed oil and gas companies set aggressive production targets to woo investors, though few succeeded in hitting them. Value then usurped volume as the industry's Holy Grail. This results season suggests growth targets are making a come back.Pioneer has set a production target that fractures conventional wisdom. The US tight oil specialist estimates that its...Read More
Not long ago, growth was the big thing. Listed oil and gas companies set aggressive production targets to woo investors, though few succeeded in hitting them. Value then usurped volume as the industry's Holy Grail. This results season suggests growth targets are making a come back.Pioneer has set a production target that fractures conventional wisdom. The US tight oil specialist estimates that its...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Not long ago, growth was the big thing. Listed oil and gas companies set aggressive production targets to woo investors, though few succeeded in hitting them. Value then usurped volume as the industry's Holy Grail. This results season...Read More
World's largest miner BHP Billiton (ASX, NYSE:BHP) injected fresh optimism into the mining industry Tuesday after announcing it had swung from loss to profit for the first half of the 2017 financial year, adding it was rewarding shareholders with a bigger than expected payout.A welcome surge in the price of commodities such as iron ore and copper due to renewed appetite in China for imported raw...Read More
* Wal-Mart (NYSE:WMT), Home Depot, Macy's rise after results* Popeyes up after Restaurant Brands agrees to buy company* Indexes up: Dow 0.45 pct, S&P 0.47 pct, Nasdaq 0.26 pct (Updates to early afternoon)By Yashaswini SwamynathanFeb 21 (Reuters) - U.S. stocks hit record intraday highs on Tuesday amid gains across sectors as strong earnings from top retailers underscored the strength of the U.S. ec...Read More
* Wal-Mart (NYSE:WMT), Home Depot, Macy's rise after results* Dollar up on rate hike comments from Fed officials* Popeyes up after Restaurant Brands agrees to buy company* Futures up: Dow 61 pts, S&P 4.5 pts, Nasdaq 9 pts (Adds details, comment, updates prices)By Yashaswini SwamynathanFeb 21 (Reuters) - U.S. stocks looked set to open near record-highs on Tuesday as oil prices rose and investors ch...Read More
* Futures up: Dow 66 pts, S&P 5.5 pts, Nasdaq 13.75 ptsBy Yashaswini SwamynathanFeb 21 (Reuters) - U.S. stock index futures rose to record intraday highs on Tuesday as oil prices surged and investors assessed earnings from top U.S. retailers.* Wal-Mart (NYSE:WMT)'s WMT.N shares were up 1.5 percent at $70.42 in premarket trading after the world's largest brick-and-mortar retailer reported a higher-...Read More
Investing.com - Gold prices edged lower during European morning hours on Tuesday, amid a rise in the dollar as market players awaited further hints on the timing of the next U.S. rate hike.Gold for April delivery on the Comex division of the New York Mercantile Exchange shed $4.95, or about 0.4%, to $1,234.15 a troy ounce by 3:10AM ET (08:10GMT).There was no settlement in Comex gold prices on Mon...Read More