* FTSE 100 up 0.5 pct, down 0.5 pct on the week* Financials provide support* ASOS falls on unfavourable US rulingBy Danilo MasoniMILAN, June 22 (Reuters) - The UK's top share index rebounded on Friday but was set for a weekly loss as trade war concerns and the revived prospect of an interest rate hike in August took their toll.The FTSE 100 .FTSE rose 0.5 percent by 0853 GMT, underpinned by strengt...Read More
Investing.com - Gold prices struggled for direction on Friday and remained at six-month lows as the dollar fell and trade tensions lingered.Comex gold futures for August delivery were down 0.02% to $1,270.30 a troy ounce as of 4:41 AM ET (8:41 GMT).Tensions between the U.S. and its allies continue, as India joined China and the European Union in retaliation against steel and aluminum tariffs. As t...Read More
Turkey's ferrous scrap import market remained quiet on Friday June 22 ahead of the outcome of the Turkish general election on Sunday. Market activity briefly picked up on Tuesday and Wednesday this week, with four deep-sea cargoes booked after a slow start to the week following a public holiday in Turkey to celebrate Eid on Friday last week. But activity waned again in the days before the election...Read More
Slab export prices from Brazil declined marginally this week, with local mills competing to book orders to the United States in the wake of the new quota system. Metal Bulletin's weekly price assessment for slab exports from Brazil fell to $580-595 per tonne fob on Friday June 22 from $590-600 per tonne fob previously. Deals from Brazilian companies to US buyers were heard...Read More
The 34-month contract is for a further cutback at the Rocky's Reward pit and work at a satellite pit.The scope included mine planning and engineering, drill and blast, mining of overburden and ore, and rehandling services to the Leinster processing facility.CIMIC CEO Michael Wright said the award continued Thiess' strong working relationship with Nickel West."We're pleased to continue our support...Read More
Chinese customs has suspended the publication of trade data for some key metal products including refined zinc, lead, nickel and copper raw materials such as scrap and concentrates, sources said. Chinese research analysts, whose work depends upon trade data from the world's top metal producing and consuming country, told Metal Bulletin they have been only granted very limited access to trade data...Read More
MACA said the agreement included a deed of release from all claims by either party and a payment plan that would allow MACA to recover A$61 million by June 2022. The amount covers a $9.5 million loan, trade receivables, interest and termination costs. MACA will retain ownership of the majority of the plant and equipment being used at Tucano and will seek to redeploy the 370 personn...Read More
Comex copper prices continued their downtrend on the last trading day of the week despite the dollar softening. Copper for July settlement on the Comex division of the New York Mercantile Exchange dipped 0.10 cents or 0.1% to $3.0205 per lb. The contract is now on a seven-day losing streak. "We have a bullish outlook on copper. We have a hypothetical long position in copper that we initiated at th...Read More
Pasar copper smelter in the Philippines is expected to operate at a reduced capacity during the second half of the year while the company makes repairs to its sulfuric acid cooling plant, Metal Bulletin has learned. Pasar, which is 78% owned by Swiss miner-trader Glencore, halted output in January due to a failure in the smelter's sulfuric acid cooling plant. Despite restarting in February, t...Read More
India is proposing increases for import duties on 30 products from the United States including certain steel goods, in a tit-for-tat move against the latter's Section 232 tariffs on steel and aluminum.Flat-rolled coated steel, stainless hot-rolled steel coil, grain-oriented electrical steel, steel spring and several other structural and construction steel products will be subject to a 15% increase...Read More
The collection consists of 32 round diamonds, 0.3 carats each, named after the countries - participants of the World Cup. All diamonds are of high quality, D to F color and VVS2 to IF clarity, they were mined in Russia and cut by ALROSA's subdivision - DIAMONDS ALROSA, in keeping with the best traditions of the world-famous Russian cut.Diamonds will be offered to natural persons and legal entities...Read More
A few deals for cif main Japanese ports (MJP) aluminium premiums for July-September delivery have been done at $132 per tonne by one major producer with buyers, according to four sources familiar with the matter. The $132 per tonne quarterly aluminium premium represents a 2.3% increase from the second-quarter MJP premium, which had settled at $129 per tonne."I heard 2 deals by this producer at $13...Read More
The latest metal markets news and price moves to start the North American day on Friday June 22.Nickel prices on the London Metal Exchange gained momentum during morning trading, edging 1.9% higher while copper, lead and tin prices also found support.Nickel's three-month price topped the broadly positive trading across the complex, despite a strong appreciation in the US dollar dampening sentiment...Read More
Local secondary billet prices in India fell by about 900 rupees ($13) per tonne this week on account of reduced inquiries and minimal buying from finished product makersThe price assessment for domestic secondary billet in India (mainly produced via an induction furnace) stood at 35,800-36,000 rupees per tonne ex-mill on June 22, a drop of 900 rupees per tonne from 36,700-36,900 rupees per tonne e...Read More
Chemical makers BRAIN and CyPlus said this week scaled up (from 100 litres to one tonne) testing of "market-relevant products for the global mining industry" showed its bio-based production process was nearly ready for industrial application.Extraction of precious metals from the ores was based on the use of naturally occurring and enhanced microorganisms from BRAIN BioArchives, the former said.Th...Read More
Flat steel prices in Turkey's domestic and export markets increased this week, with demand moderate ahead of the elections on Sunday June 24, sources told Metal Bulletin on Monday June 22. Domestic producers are accepting orders for September production, and have already filled most of their orderbooks for September. Domestic prices Hot-rolled coil (HRC) producers in Turkey sold material at $617-6...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDG, PPGIHot-rolled coil Turkey, domestic, hot-rolled coil, traded at $617-625 per tonne ex-works, September production. Turkey, domestic, hot-rolled coil,...Read More
JSE-listed diamond miner Trans Hex on Thursday reported a R186.8-million loss for the financial year ended March 31, 2018, with its loss a share amounting to 175.6c and its headline loss a share to 216.5c.The group’s net loss from discontinued operations, including retrenchment costs of R99.3-million, totalled R213-million, which was slightly augmented by revenue from its continuing operatio...Read More
The UK light iron scrap market was stable in the week to Friday June 22 for the 11th week in a row, with market sentiment suggesting an increase next week in line with expected renewed demand from Turkey, sources said.Metal Bulletin's weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?90-120 ($119-158) per tonne on Friday. This compares with the low for the year...Read More
Coated coil prices in Turkey increased this week, but demand was moderate due to the upcoming elections on Sunday, June 24, sources told Metal Bulletin on Friday June 22. Domestic prices One northern Turkish producer was offering 0.50mm hot-dipped galvanized coil (HDG) at $760-770 per tonne ex-works, up from $745-750 per tonne ex-works last week. Southern Turkish producers were offering the same m...Read More