European alloy steel surcharges for July deliveries of grade-304 cold-rolled (CR) stainless steel sheet have risen for the sixth consecutive month on an increase in nickel costs to reach their highest level since June 2011. The July alloy surcharge for 2mm grade-304 CR stainless steel sheet - based on data published by Outokumpu, Acerinox and Aperam - is ?,?1,624-1,648 ($1,886-1,914) per tonne. Th...Read More
WASHINGTON (Reuters) - President Donald Trump’s nominee to head the Internal Revenue Service promised independent leadership of the U.S. tax-collecting agency on Thursday, but drew a senator’s criticism for not disclosing business ties to a Trump-branded hotel in Hawaii.Charles Rettig, a Beverly Hills, California, tax lawyer, will be tasked with implementing Trump’s sweeping new...Read More
A group of 75 senior US figures, including former statesmen, military, industrial and academic leaders, have written to Energy Secretary Rick Perry imploring him to take immediate action to prevent the closure of reactors, citing the contribution of nuclear power to national security. Meanwhile, the US Senate has passed a 2019 appropriations bill providing USD1.2 billion for nuclear energy program...Read More
NEW YORK (Reuters) - Struggling health sector shares and U.S.-driven trade confrontations capped gains in global stocks and drove down safe-haven U.S. Treasury and German Bund yields on Thursday, while financial companies boosted Wall Street.Wall Street was slightly higher in afternoon trading, but gains were largely capped by plummeting shares of drug distributors and retailers after Amazon annou...Read More
For the foreseeable future, most new nuclear power technologies will still run, wholly or partially, on uranium, so it is important that this vital resource is mined, produced and managed sustainably, International Atomic Energy Agency (IAEA) Director General Yukiya Amano said this week. It is also essential to take full account of environmental concerns, "both to ensure public acceptance today an...Read More
Oil and gas conglomerate BP plc is to buy Chargemaster, the UK's largest electric vehicles (EVs) charging company, and plans to deploy the network across its forecourts in the country over the next 12 months. The charging company, to be rebranded BP Chargemaster, has over 6,500 charging points across the UK through its Polar network. The company also designs, builds, sells and maintains EV chargin...Read More
(Reuters) - U.S. stocks swung between gains and losses on Thursday, as Amazon’s foray into drug retailing whipped the healthcare sector, while a rise in financial stocks for the first time in 14 days cushioned the markets.Amazon.com said it would buy online pharmacy PillPack, a move that will put the online retail giant in direct competition with drugstore chains, drug distributors and pharm...Read More
Oil and gas conglomerate BP plc is to buy Chargemaster, the UK's largest electric vehicles (EVs) charging company, and plans to deploy the network across its forecourts in the country over the next 12 months. The charging company, to be rebranded BP Chargemaster, has over 6,500 charging points across the UK through its Polar network. The company also designs, builds, sells and maintains EV chargin...Read More
Russia's Rosatom and the Ministry of Infrastructure of Rwanda have signed a Memorandum of Understanding on cooperation in the peaceful uses of nuclear energy. The document was signed on 22 June by Rosatom Deputy Director General Nikolay Spassky and Ambassador Extraordinary and Plenipotentiary of the Republic of Rwanda to the Russian Federation Jeanne d'Arc Mujawamariya.Spassky and Mujawamariya at...Read More
NEW YORK (Reuters) - U.S. oil prices rose to a three-and-a-half year high on Thursday, bolstered by supply concerns due to U.S. sanctions that could cause a large drop in crude exports from Iran.U.S. West Texas Intermediate (WTI) crude CLc1 futures rose 80 cents to $73.56 a barrel, a 1.1 percent gain, by 1:35 p.m. EDT (1735 GMT). It reached $74.03 earlier in the session, the highest since Nov. 26,...Read More
Bob Moriarty ArchivesJun 28, 2018For several months I have been beating the drum saying that there would be a tradable low for the precious metals in the June/July timeframe. The way to be fairly certain would be using theCommitment of Traders report and Daily Sentiment Indicator to mark an extreme of sentiment. I was looking for the DSI to go below 10 and the COTs to reflect major bearish sentime...Read More
The economy has hit a wall and is now sliding down it. I don't care what bullish propaganda may or may not be bubbling up in the headlines from the financial media and Wall Street, the hard numbers I look at everyday show accelerating economic weakness. The fact that my view is contrary to mainstream consensus and political propaganda reinforces my conviction that my view about the economy is corr...Read More
* Platinum hits fresh 2-1/2 year low * U.S. rate hike prospects also weighing on gold (Recasts, updates prices; adds comment, second byline; NEW YORKto dateline)By Renita D. Young and Maytaal AngelNEW YORK/LONDON, June 28 (Reuters) - Gold fell to its lowestlevel in more than six months on Thursday, as mounting pressurefrom trade disputes and the expectation of higher U.S. interestrates continue to...Read More
WASHINGTON (Reuters) - U.S. House Republican allies of President Donald Trump shouted and attacked Deputy Attorney General Rod Rosenstein on Thursday, alleging he was improperly withholding documents related to the FBI’s investigation of Trump’s 2016 campaign.The tense congressional hearing came as Republicans brought to the House floor a non-binding resolution that scolded the Justice...Read More
St. Louis, June 28 (Reuters) - Continued tight U.S. labor markets could begin to bring unemployment rates for blacks and Hispanics more in line with that of whites, another reason for the Federal Reserve to slow or halt its current round of rate increases, St. Louis Fed president James Bullard said on Thursday.“Unemployment is at a low level, but you also have African American unemployment,...Read More
Bauxite exports from Emirates Global Aluminium's (EGA) Guinea Alumina Corp subsidiary will begin in the second half of 2019, while integrated aluminium companies are seeking to secure upstream supply to shield themselves from volatile alumina prices. Construction at the project has reached 50% completion, EGA said on Wednesday June 27. At full capacity, Guinea Alumina will produce 12 million tonne...Read More
(Kitco News) - Gold and silver prices aretrading modestly lower in early U.S. dealings Thursday. Gold hit a nearly 12-monthlow overnight. Gold bulls need a good dose of bullish fundamental news.Chart-based sellers in the futures markets have been emboldened this week, amidprice downtrends in place for gold and silver. However, both markets are nowtechnically oversold on a short-term basis and due...Read More
China's 10 largest copper smelters have assessed current treatment charges (TCs) at above $90 per tonne at a meeting on Thursday June 28 without officially disclosing its base level for the third-quarter procurement, Metal Bulletin has learned. The China Smelters Purchase Team (CSPT) agreed during a meeting in Manzhouli, Inner Mongolia, to discuss the minimum levels for TCs from July to September,...Read More
St. Louis (Reuters) - The fiscal boost to the U.S. economy is likely to fade over a year or two, something that should make the Fed more cautious in continuing to raise interest rates, St. Louis Federal Reserve bank president James Bullard said on Thursday.“That is an important thing to keep in mind,” Bullard said at an investment conference here. Fiscal policy “might have some i...Read More
WASHINGTON (Reuters) - The U.S. securities regulator on Thursday unveiled a proposal to ease its rules for approving low-risk exchange-traded-funds (ETFs), in what could potentially be a major win for the $3.5 trillion market.The Securities and Exchange Commission (SEC) will propose allowing issuers to launch vanilla ETFs without first seeking approval from the regulator, in a move it hopes will b...Read More