TOKYO,March 2 (Reuters) - Japan's benchmark Nikkei average fell 2.29 percent to 21,226.99 on Friday, while the broader Topix shed 1.81 percent to 1,708.77. (Reporting by Tokyo markets team) Keywords: MARKETS JAPAN STOCKS/XPCT Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of...Read More
Nickel stocks in the Shanghai-bonded zone surged in February due to the enlarged negative arbitrage between London Metal Exchange prices and the Chinese domestic market, while higher zinc stocks were attributed to sufficient domestic supply and soft demand in the China market. In February 2018, Shanghai-bonded nickel stocks increased by 69.8% month on month, after the sustained negative arbitrage...Read More
TOKYO,March 2 (Reuters) - Japan's benchmark Nikkei average opened down 1.77 percent at 21,339.98 on Friday, while the broader Topix shed 1.65 percent to 1,711.46. (Reporting by Tokyo markets team) Keywords: MARKETS JAPAN STOCKS/OPEN Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accur...Read More
March 2 (Reuters) -For other diaries, please see: Top Economic Events Emerging Markets Economic Events Government Debt Auctions Political and General News U.S. Federal Reserve Today in Washington DATE COUNTRY AUCTION DETAILS 5-MarFranceAuction of BTF Treasury notes 5-MarNetherlands DTC auction 5-MarNorwayAuction of Treasury bills 6-MarSpain Auction of 6- and 12-month Treasury bills 6-MarUnited Kin...Read More
March 2 (Reuters) -For other diaries, please see: Top Economic Events Emerging Markets Economic Events Government Debt Auctions Political and General News U.S. Federal Reserve Today in Washington ----------------------------------------------------------- This Diary is filed daily. ** Indicates new events-----------------------------------------------------------FRIDAY, MARCH 2 ** MANILA - Stefano...Read More
The London Metal Exchange will introduce a financial over-the-counter (OTC) booking fee, which will be payable from June 1, the exchange said on Thursday March 1. Following a consultation period with the market, the exchange announced on Thursday that it will set a OTC booking fee of $1 per equivalent LME lot which will be paid by financial institutions for each OTC trade executed in place of an L...Read More
March 2 (Reuters) -For other diaries, please see: Top Economic Events Emerging Markets Economic Events Government Debt Auctions Political and General News U.S. Federal Reserve Today in Washington ----------------------------------------------------------- This Diary is filed daily. ** Indicates new events-----------------------------------------------------------FRIDAY, MARCH 2** HAMBURG, Germany...Read More
** Oil and gas explorer Central Petroleum Ltd risesas much as 33.3 pct to A$0.140, its highest since June 23, 2017** Australian Competition and Consumer Commission releases adraft decision proposing to authorise joint gas marketingarrangements between Central Petroleum Ltd and MacquarieMereenie, owned by Australian based provider of financialservices Macquarie Group Ltd** Says it granted interim a...Read More
Iron ore prices recovered some losses on Thursday March 1 and returned above $79 per tonne though demand remained sluggish.Metal Bulletin's 62% Fe Iron Ore Index Today: $79.39 per tonne cfr Qingdao Daily change: up by $0.78 per tonne Month-to-date average: $79.39 per tonne Metal Bulletin's 58% Fe Premium Index Today: $62.05 per tonne cfr QingdaoDaily change: up by $0.43...Read More
* Tokyo February core CPI slightly higher than expected.* Overall CPI in February +1.4% y/y too, BoJ making progress towards target?* CPI excluding fresh food/energy +0.5% y/y still however.* If the BoJ focuses on the overall level, indeed progress being made.* Rise in prices good but with no complimentary rise in wages walletstighter. Disclaimer: The views expressed in this article are those of...Read More
Trading activity in the seaborne coking coal market remains thin, though some buyers are expecting prices to rise amid a paucity of Australian supply. A cargo of tier-two product was heard offered around $195-200 per tonne fob Australia while top-tier materials were said to be available at $240-250 per tonne cfr China. "It is definitely a sellers' market at this stage with very few seaborne cargoe...Read More
** Syrah Resources Ltd falls as much as 5.7 pct toA$3.17, its lowest since Feb 13** Graphite products supplier flags damage to certainmachinery at its Balama operations in Mozambique ** Expects to produce about 65 pct of volume planned forramp up during estimated 8 weeks needed for repair** Stock posts biggest intraday pct fall since Feb 9, amongtop pct losers on the Australian main index ** Up to...Read More
WASHINGTON — U.S. President Donald Trump said on Thursday the United States would impose tariffs of 25 per cent on steel imports and 10 per cent on imported aluminum next week.At a meeting with U.S. industry officials at the White House, Trump vowed to rebuild American steel and aluminum industries, saying they had been treated unfairly by other countries for decades.The move is likely to in...Read More
Although base metals are under pressure in the short term, we have a bullish bias to our 2018 price forecasts given the supportive background of solid global economic growth and the fact that all six base metal markets look set to be in fundamental deficit this year. But each has a slightly different supply-side story and this aspect should be the main differentiator. For example, zinc's narrative...Read More
* Unemployment at 2.4% lowest since April 1993, 2.7% eyed.* Jobs/applicants ratio at 1.59 same as December, 1.60 eyed.* Japanese labor even tighter than before, falling/ageing population factor.* Japan still refuses to take in large numbers of immigrants.* That said, non-Japanese population increasing, fact felt in large cities. Disclaimer: The views expressed in this article are those of the au...Read More
** Australia Bluescope Steel rises as much as 3.8percent to A$16.79, its highest level since Jan. 2010** Steel futures rose for a fifth straight day on Thursdayon tighter supply expectations from China ** On Monday, the steel maker posted a 23 pct jump infirst-half profit and said it would extend its buyback program ** Stock among top gainers on the Aussie main board (Reuters Messaging:rushil.dutt...Read More
The aluminum and steel industry, which affects businesses from beer to cars, reacted to the prospect of steep U.S. tariffs. President Donald Trump is expected to make the announcement on Thursday, and the move could have far-reaching effects. It may benefit U.S. steel producers, but also raises the possibility of retaliation from other countries and higher costs for American shoppers.AK Steel and...Read More
TOKYO, March 2 (Reuters) - Japan's jobless rate dropped to alower-than-expected 2.4 percent in January and the availabilityof jobs stayed at a 44-year high, government data showed onFriday.The seasonally adjusted unemployment rate fell from 2.8percent in December, data from the Internal Affairs ministryshowed. Economists' median forecast was for the jobless rate tofall to 2.7 percent.The jobs-to-a...Read More
NEW YORK, March 1 (Reuters) - U.S.-based high-yield junkbond funds posted $703 million of outflows for the week endedWednesday, their seventh straight week of cash withdrawals,Lipper data showed on Thursday.But higher up in the credit-quality spectrum, U.S.-basedinvestment-grade corporate bond funds attracted $1.37 billion innew cash, their second consecutive week of inflows, Lipperadded. (Reporti...Read More
(Adds comment from Business Roundtable)By Nick Carey and Arunima BanerjeeMarch 1 (Reuters) - Stock prices of U.S. steel and aluminummakers rose on Thursday after President Donald Trump announcedhefty tariffs on metal imports to protect them from foreigncompetition, but many other companies saw stock price falls asthey may face higher prices for raw materials which will forcethem to raise prices fo...Read More