CIS export billet prices continued to climb in the week ended Monday March 5, supported by strong demand in most sales outlets as well as reduced availability of material and rising scrap costs.Metal Bulletin's export CIS Billet Index was $534 per tonne fob Black Sea on March 5, up by $14 per tonne week-on-week. This took the index to its highest value since January 2013, according to Metal Bullet...Read More
RAPAPORT...Firestar Diamond and its affiliates reported significant interest from companies looking to buy their operations, after filing for bankruptcy in the wake of fraud allegations against their ultimate owner, Nirav Modi.The three jewelers - Firestar, A. Jaffe and Fantasy - are seeking an infusion of capital or a sale, and intendto continue business as normal in the meantime,their president,...Read More
ROME (Reuters) - Two anti-establishment leaders made early plays to govern Italy on Monday, sending ripples across the euro zone after voters relegated mainstream parties to the sidelines in delivering a hung parliament.With the bloc’s third-largest economy seemingly facing prolonged political instability, the anti-immigrant League claimed the right to rule after its centre-right alliance wo...Read More
The latest news and price moves to start the Asian day on Tuesday March 6.Copper and tin bucked the trend as base metals closed lower on the London Metal Exchange on Monday March 5. Read more in our live futures report.Here are how LME prices looked at Monday's close:The largest zinc delivery in nearly five years into LME-approved warehouses in New Orleans has swung the zinc cash/three-month...Read More
(Kitco News) - Advances in mineral exploration appear to be moving at a breakneck pace and mining industry leaders think 3D drilling and mapping technology has the potential to disrupt the mining sector.Acoustic Zoom, with its innovative ultra-high-frequency 3D drill hole seismic imaging technology, impressed a panel of judges at Goldcorp’s #Disruptmining event during the 2018 Prospectors &a...Read More
FTSE 100 closes higherUS benchmarks all positiveSterling higher against Euro and US dollar FTSE 100 closed around 46 points higher at 7,115 as US shares turned positive on the back of positive data.The FTSE 250 also gained ground - up over 180 points at 19,567.On Wall Street, the Dow Jones is up over 179 points, while the S&P 500 added over 34 points, but jitters over Trump's trade...Read More
SHANGHAI, Mar 5 (SMM) – Nonferrous metals futures on the SHFE dropped for the most part today except for tin, which inched up slightly. Zinc fell over 2%, aluminium slid over 1%, while copper and lead edged down slightly.Ferrous metals fell across the board with iron ore leading the slump and closing 4% lower. Coke dropped over 2%, rebar and hot-rolled coil slipped over 1%, and coking coal f...Read More
SHANGHAI, Mar 5 (SMM) – Nonferrous metals futures on the SHFE dropped for the most part today except for tin, which inched up slightly. Zinc fell over 2%, aluminium slid over 1%, while copper and lead edged down slightly.Ferrous metals fell across the board with iron ore leading the slump and closing 4% lower. Coke dropped over 2%, rebar and hot-rolled coil slipped over 1%, and coking coal f...Read More
SHANGHAI, Mar 5 (SMM) – Nonferrous metals futures on the SHFE dropped for the most part today except for tin, which inched up slightly. Zinc fell over 2%, aluminium slid over 1%, while copper and lead edged down slightly.Ferrous metals fell across the board with iron ore leading the slump and closing 4% lower. Coke dropped over 2%, rebar and hot-rolled coil slipped over 1%, and coking coal f...Read More
The latest metal markets news and price moves to start the North American day on Monday March 5.The three-month zinc price is trading 1.5% lower on the London Metal Exchange, following a large stock delivery into New Orleans.On-warrant stock levels in LME-listed warehouses in New Orleans have almost doubled following the 78,950 tonne delivery. This is the largest one-day net increase for zinc stoc...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points in pre-opening trade. Investors are responding partially to no clear decision from Italy's election held yesterday.TJX added $0.35 to $84.00 after MKM Partners raised its target price to $94 to $87. XL Group gained $13.25 to $56.55 after receiving a takeover offer from AXA for $57.60 per share. The offer is.v...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
MEXICO CITY (Reuters) - Ministers from the United States, Canada and Mexico meet on Monday to wrap up the latest round of NAFTA talks under the shadow of U.S. President Donald Trump’s proposed steep tariffs on steel and aluminum imports.Trump is expected to finalize the tariffs - 25 percent on steel and 10 percent on aluminum - later in the week, posing a tough challenge for U.S. Trade Repre...Read More
Equipment rental company Ashtead Group PLC (LON:AHT) has been benefiting from Donald Trump's tax cuts and an increase in demand after hurricanes in the US.Ashtead, which reports its third quarter results on Tuesday, has been involved in the rebuilding efforts after hurricane Harvey, Irma and Maria struck southern US and the Caribbean.The need for emergency equipment boosted revenues in the first h...Read More
RAPAPORT... Helzberg Diamonds has appointed Ellen Junger as chief marketingofficer, and named Carmichael Lynch as its new ad agency of record. Junger was previously chief customer and marketing officerfor Payless ShoeSource. She has also worked for Hallmark Cards, including as chief marketing officer of Hallmark Canada, according to a statement on Carmichael's website. "Ellen brings a wealth of ex...Read More
SHANGHAI, Mar 5 (SMM) – SMM assessed spot imported copper concentrate treatment charges (TCs) $4/mt lower to $70-78/mt on Friday March 2 due to higher demand and possible lower output.While some small and medium-sized smelters stocked up before the Chinese New Year holiday, traders actively sourced copper concentrate in anticipation of tighter supply. Lingbao Gold’s additiona...Read More
SHANGHAI, Mar 5 (SMM) – This is a roundup of global macro-economic news over the weekend and what is expected today.Last Friday nightThe US dollar slid following the country’s plan to impose sweeping tariffs on steel and aluminium imports. LME zinc dropped over 1% and tin edged down slightly, while SHFE tin inched up.Germany’s retail sales in January dropped 0.7% month on month a...Read More
Continue...Ray Dalio is an American businessman and founder of the investment firm Bridgewater Associates, one of the world's largest hedge funds. In 2012, Dalio appeared on the annual Time 100 list of the 100 most influential people in the world. In 2011 and 2012 he was listed by Bloomberg Markets as one of the 50 Most Influential people. Institutional Investor's Alpha ranked him No. 2 on their 2...Read More
(Kitco News) - The mining and commodity sector is seeing investor sentiment pick up, but the focus is more on growing momentum in base metals with little interest in precious metals, according to the latest comments during the 2018 Prospectors & Developers Association of Canada (PDAC) convention.While presentations were standing room only during presentations on commodities like zinc, copper a...Read More
Good morning from Metal Bulletin's office in Singapore as we bring you the latest news and pricing stories on Monday March 5.Base metals traded on the Shanghai Futures Exchange were broadly weaker during Asian morning trading on Monday, with only nickel and tin prices managing to post slight gains. Check Metal Bulletin's live futures report here.SHFE snapshot at 10.02am Shanghai timeMost-traded SH...Read More