Good morning from Metal Bulletin's office in Singapore as we bring you the latest news and pricing stories on Thursday March 1.Base metals traded on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Thursday, with a resurgent dollar curbing investors' appetite for the metals.Check Metal Bulletin's live futures report here.LME snapshot at 02.14am London timeLatest thr...Read More
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U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade. Investors are waiting for testimony before congress on monetary policy by Federal Reserve chairman Jerome Powell. Index futures recovered slightly following release of U.S. economic news at 8:30 AM EST. Consensus for Weekly Jobless Claims was 230,000 versus a revised 220,000 last week. A...Read More
SHANGHAI, Mar 1 (SMM) – The final purchasing managers' index (PMI) for downstream nickel industries in February stood at 38.4, better than expected, SMM data showed.The overall production index in February stood at 35.5, with fewer stainless steel plants closed for maintenance during the Chinese New Year holiday. Suspended production for the holiday also affected the production inde...Read More
** S.Korean steelmaker Posco falls more than 3pct to a four-week low** U.S. President Donald Trump announced on Thursday hewould impose hefty tariffs on imported steel and aluminium toprotect U.S. producers ** Other steel shares such as Hyundai Steel andDongkuk Steel also down nearly 3 pct** Broader market slumps 1.4 pct as of 0105 GMT Disclaimer: The views expressed in this article are those of...Read More
SHANGHAI, Mar 1 (SMM) – This is a roundup of global macro-economic news last night and what is expected today.Last nightAs the US dollar continued to go up, with the dollar index hitting a post-Chinese New Year high at 90.62, and China’s manufacturing purchasing managers’ index (PMI) failed to meet expectations, we saw a big slump in base metals futures except for SHFE alumi...Read More
SHANGHAI, Mar 1 (SMM) – More active zinc trading was seen in Guangdong province and Shanghai on Thursday March 1 as sellers offered bigger discounts, SMM learned. Trading in Tianjin was stable.The 0# common brand zinc was trading at 26,220-26,280 yuan/mt in Guangdong, which translated to a discount of 180-160 yuan/mt against the SHFE 1804 zinc contract. The discounts went deeper compared wit...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our market professional survey.Readers can al...Read More
** Steelmakers tumble; Nippon Steel & Sumitomo Metal Corp down 3.7 pct to 2,424 yen, lowest since last June; JFEHoldings declines 3.7 pct to 2,323 yen, lowest sincelast Oct; Kobe Steel falls 3.0 pct to more than 2-weeklow of 1,122 yen** President Donald Trump said the United States wouldimpose import tariffs on steel and aluminium ** Trump said the duties of 25 percent on steel and 10percent o...Read More
SHANGHAI, Mar 1 (SMM) -Copper: LME copper lost support at the $7,000/mt level and SHFE copper fell to a low of 52,380 yuan/mt overnight as the US dollar remained strong. With pressure on base metals, we see copper staying rangebound in the short term with possible upward room in the medium term. We expect LME copper to trade at $6,900-6,970/mt and the SHFE 1804 contract to trad...Read More
SHANGHAI, Mar 1 (SMM) – Norilsk nickel in the Shanghai market was offered at a discount of 300 yuan/mt against the Wuxi Stainless Steel Exchange 1803 contract on the morning of Thursday March 1, while Jinchuan was flat at 103,300 yuan/mt, SMM learned.Following a rebound in nickel prices overnight, traders were active selling while downstream customers were more reserved. ...Read More
SHANGHAI, Mar 1 (SMM) – This is a roundup of global macro-economic news last night and what is expected today.Last nightAs the US dollar continued to go up, with the dollar index hitting a post-Chinese New Year high at 90.62, and China’s manufacturing purchasing managers’ index (PMI) failed to meet expectations, we saw a big slump in base metals futures except for SHFE alumi...Read More
Published on: Mar 1, 2018 | by finfeedLithium Australia NL (ASX:LIT) informed the market yesterday that it had received acceptances for 99.7% of the Very Small Particle Company's (VSPC) issued capital.The announcement came just 48 hours after LIT lodged formal documents for its takeover of the Brisbane based cathode powder producer, which has spent approximately A$30 million developing its product...Read More
Base metals traded on the London Metal Exchange are for the most part consolidating after recent weakness, the exceptions are aluminium prices that are up by 0.7% at $2,147 per tonne and lead prices that are down by 0.5% at $2,490 per tonne. The rest are little changed, with copper prices recently quoted at $6,943 per tonne.Volume has been average with 8,708 lots traded as of 07.12 am London time....Read More
** Shares of companies with exposure to North Korea rallyafter S.Korea's President Moon Jae-in on Thursday said he plansto send a special envoy to Pyongyang ** Clothing companies such as In The F Co Ltd soars more than 12 pct to its 13-month high, while Shinwon rises 6.5 pct** Both companies own a branch in Kaesung Industrial Complexin North Korea** Broader market down 1.5 pct as of 0042 GMT Dis...Read More
TOKYO, March 2 (Reuters) - Toyota Motor Corp saidon Friday U.S. tariffs on imported steel and aluminum wouldsubstantially raise costs and therefore prices of cars andtrucks sold in America. "The (U.S.) Administration's decision to impose substantialsteel and aluminum tariffs will adversely impact automakers, theautomotive supplier community and consumers," the automaker toldReuters. Toyo...Read More
SHANGHAI, Mar 1 (SMM) – This is a roundup of global macro-economic news last night and what is expected today.Last nightAs the US dollar continued to go up, with the dollar index hitting a post-Chinese New Year high at 90.62, and China’s manufacturing purchasing managers’ index (PMI) failed to meet expectations, we saw a big slump in base metals futures except for SHFE alumi...Read More
SHANGHAI, Mar 1 (SMM) -Copper: LME copper lost support at the $7,000/mt level and SHFE copper fell to a low of 52,380 yuan/mt overnight as the US dollar remained strong. With pressure on base metals, we see copper staying rangebound in the short term with possible upward room in the medium term. We expect LME copper to trade at $6,900-6,970/mt and the SHFE 1804 contract to trad...Read More
** EVZ Ltd rises as much as 16.7 pct to A$0.028,its highest since Jan. 15** Energy and engineering services firm's unit securescertain contracts for A$11.2 mln ($8.69 mln) ** Stock posts biggest intra-day pct gain since Jan. 12** About 2.2 mln shares have changed hands, compared withthe 30-day average of 649,985 shares($1 = 1.2890 Australian dollars) Devika.Syamnath.thomsonreuters.com@reuters.net)...Read More
(Updates with comment from chief Canadian negotiator) By David Ljunggren and Dave Graham MEXICO CITY, March 1 (Reuters) - Negotiators trying torework the NAFTA trade deal on Thursday were hit by the prospectof conflict over U.S. steel tariffs that could complicatecarmaking in North America, one of the most sensitive issues atthe talks. U.S. President Donald Trump said he would impose the tariffsbe...Read More