In the assumption that one of the three recommendations by the DOC (Dept. of Commerce) is adopted and unlike section 201 made permanent, US producer prices (FOB Midwest mill) are unlikely to fall in the short term but the degree of gains could be quite different.In this article we examine "option 3" - a quota regime, which restricts foreign steel to 63% of the 2017 total. In this scenario the pric...Read More

(Repeats to attach to alerts)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...Read More

Kim Leppold, Senior Consultant, Metal Bulletin Research.Metal Bulletin Research (MBR) has examined the effects of the potential Section 232 actions on the US OCTG markets based on the recommendations set out by the Department of Commerce in mid-February.The three recommendations are essentially a blanket tariff up to 24% on all steel products imported to the USA from all countries, a blanket quota...Read More

SEOUL, March 2(Reuters) - Details of South Korea's January industrialactivity, retail sales and investment data, released on Friday by StatisticsKorea (percentage change unless stated, month-on-month changes seasonallyadjusted): Jan*DecY/YM/M Y/Y M/M Industrial output +4.6 +1.0-4.6-1.7 Manufacturing ex-factory+3.6~-7.5 ~ shipments Shipments for domestic+4.6~-7.9 ~ marketShipments for exports +0.4...Read More

On Friday February 16, US Commerce Secretary Wilbur Ross revealed what recommendations were made after the Section 232 investigation was complete. Three alternative remedies were proposed: a global tariff of at least 24% on all steel imports; a tariff of at least 53% on all steel imports from 12 countries (Brazil, China, Costa Rica, Egypt, India, Malaysia, South Korea, Russia, South Africa, Thaila...Read More

(Adds expenses, revenue details)SAO PAULO, March 1 (Reuters) - Brazil's financial exchangeoperator B3 SA Brasil Bolsa Balc??o missedfourth-quarter profit estimates on Thursday as expensesincreased and offset higher revenues from equities andderivatives. S??o Paulo-based B3's recurring net income totaled 635.8million reais ($195.56 million) in the quarter, 12 percent belowthe consensus estimate of...Read More

NEW YORK, March 1 (Reuters) - The chief executive officer ofAmerican Outdoor Brands Corporation , maker of Smith &Wesson guns, on Thursday said some gun retailers reportedincreased foot traffic and sales after the Florida high schoolshooting.CEO James Debney, on a conference call with investors todiscussearnings, briefly addressed the Feb. 14 attack atStoneman Douglas High School in Parkland,...Read More

PRAGUE, March 2 (Reuters) - The Czech crown currency'srecent firming has tightened monetary conditions in the economyand lessened the need for interest rate hikes, central bankboard member Vojtech Benda said in an interview with HospodarskeNoviny.Benda had been on the hawkish side of the seven-member boardlast autumn when he said the economy could take 50-75 basispoints in rate increases by the en...Read More

The closure of some induction furnaces in China in 2016 followed by the government's crackdown on all unlicensed IFs in mid-2017 freed up some scrap volumes, albeit arguably of low-quality material. Chinese domestic scrap prices came under pressure from the increased supply, which prevented them from keeping pace with the rise in steel and other raw material markets in the fourth quarter of 2016;...Read More

** SKY Network Television Ltd falls as much as 3.3pct to NZ$2.38, an all-time low** Co announced lower subscriber numbers, interim dividendcut on Wednesday ** Stock posts its biggest intraday percentage fall sinceFeb. 28** Stock on track for third straight daily loss** Stock is thebiggest percentage loser on the S&P/NZX 50Index ** Up to Thursday's close, stock had fallen 12.5 pct thisyear comp...Read More

By Noel RandewichSAN FRANCISCO, March 1 (Reuters) - The specter of a tradewar started by U.S. President Donald Trump rattled Wall Streeton Thursday and exacerbated worries about inflation and thefuture of a nine-year bull market.The S&P 500 slumped 1.33 percent after Trump said the UnitedStates would impose duties on imported steel and aluminum,making good on promises to aggressively challenge...Read More

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Will PurcellThe diamond and specialty minerals stocks box score for Thursday was a poor 66-95-129. The TSX Venture Exchange rose fractionally to 829 while polished diamond prices edged upward. Sheldon Inwentash and Arno Brand's Gratomic Inc. (GRAT), called CKR Ca...Read More

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business ReporterNew York spot gold fell $0.80 to $1,317.00 on Thursday. The TSX Venture Exchange rose 0.20 point to 829.32 while the TSX Gold Index added 1.51 points to 181.10. Barrick Gold Corp. (ABX) led Canadian gold miners lower today, dropping 18...Read More

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business ReporterThe TSX Venture Exchange rose a fraction to 829.32 Thursday. Roger Daher has filed a final prospectus to list his first capital pool shell, Skyscape Capital Inc. The shell is selling a $500,000 initial public offering at 50 cents throu...Read More

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Mike CaswellThe U.S. Securities and Exchange Commission has filed civil fraud charges against Mississauga's Douglas Murdock for misleading the public with respect to a purported water treatment listing. The SEC claims that he acquired a large block of tradable sh...Read More

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business Reporter West Texas Intermediate crude for April delivery lost $1.37 to $61.64 on the New York Merc, while Brent for April lost 85 cents to $65.78 (all figures in this para U.S.). Western Canadian Select traded at a discount of $28 to WTI ($33...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

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

The latest news and price moves to start the Asian day on Friday March 2. Aluminium and tin were the only base metals on the London Metal Exchange to close the day in positive territory on Thursday March 1, with the rest of the complex diving. Read more in our live futures report.Here are how LME prices looked at Thursday's close:United States President Donald Trump announced in a meeting with US...Read More

The global alumina supply picture would likely look very different were it not for the introduction and adoption of alumina indices published by price reporting agencies, according to Mark Roggensinger, senior market analyst at Hydro.Had alumina prices been locked into long-term contracts as a percentage of the aluminium price on the London Metal Exchange, prevailing alumina prices would have been...Read More