(Reuters) - A U.S. government security panel has identified potential security concerns that warrant a full investigation of Singapore-based Broadcom Ltd’s (AVGO.O) $117 billion bid for chipmaker Qualcomm Inc (QCOM.O), a senior U.S. Treasury official said in a letter to the companies on Monday.Some of the concerns relate to risks associated with Broadcom's relationships with third party fore...Read More
(IDEX Online) - De Beers sold rough diamonds with a provisional value of $555 million, following confirmed sales of $672 million in the first sales cycle (Global Sightholder Sales and Auction Sales) of 2018 compared with a provisional figure of $665 million. Bruce Cleaver, CEO, De Beers Group, said: "The second sales cycle of the year saw the continuation of good rough diamond demand. This...Read More
The changing dynamics of bauxite and alumina markets have demanded an evolution in the means of pricing them. The alumina market - and the way it is priced - has transitioned over the past 10 years. Fixed-price, long-term contracts, agreed as a percentage of the aluminium price on the London Metal Exchange, have instead transformed into contracts tied to third-party reference prices or indices, in...Read More
BRUSSELS (Reuters) - Clothing, orange juice, cosmetics and other products from the United States may be subject to European Union duties if U.S. President Donald Trump carries out his threat to impose global import duties on steel and aluminum.The European Commission has said it would respond “firmly” to proposed U.S. import duties of 25 percent on steel and 10 percent on aluminum. It...Read More
(IDEX Online) - Speaking at an industry seminar in Hong Kong, CIBJO President Gaetano Cavalieri has urged both government authorities and jewelry and gemstone associations to incorporate the standards and nomenclature contained in the CIBJO Blue Books into their respective national guidelines, as a measure designed to facilitate more transparent and efficient international trade. The CIBJO...Read More
British company Sirius Minerals (LON:SXX), the company building a huge polyhalite mine beneath a national park, is looking to raise up to $2 billion in government-backed debt to finish building its fertilizer project in North Yorkshire.Delivering preliminary results for 2017, the company said its main focus this year will be securing up to $3bn from banks, including roughly $2bn under the gover...Read More
Turkish steel producers have continued to book deep-sea scrap for April amid strong demand for their finished steel products, sources said on Tuesday March 6.Imported scrap prices into Turkey have risen further with the recent bookings, sources told Metal Bulletin.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $374.75 per tonne and...Read More
(IDEX Online) - The International Tender Center (ITC) inaugurated by the Israel Diamond Exchange in February 2017 has succeeded beyond expectations during its first year of activity, the Israel Diamond Exchange (IDE) said. Due to this success, the bourse has announced that the center will be expanded later this year to encompass a venue for live auctions. ITC, a state-o...Read More
LONDON (Reuters) - Macquarie (MQG.AX) is trying to pull out of the Russian-focused infrastructure fund it manages after some of the investments underperformed, three industry sources and a banker said.The fund, the first major private fund dedicated to infrastructure in Russia and the CIS when it was set up in 2008, owns debt in Brunswick Rail and equity stakes in energy suppliers Enel Russia (ENR...Read More
Renewed concerns about a potential trade war as a direct result of proposed tariffs on steel and aluminum has resulted in both a lower U.S. dollar as well as buyers accumulating gold. Gold futures are currently trading up $15.50 at $1335.40. Last week President Donald Trump proposed the implementation of steel and aluminum tariffs. This proposal has met with global and internal resistance. Nonethe...Read More
Weaker...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as its published.Sub...Read More
Local and imported rebar prices in the United Arab Emirates and Saudi Arabia remained unchanged this week although the price of steel billet imports into the UAE increased, sources told Metal Bulletin on Tuesday March 6. Demand for locally produced rebar in the UAE was still strong. Domestic rebar The major rebar producers in the UAE rolled over their prices for March and April production las...Read More
NEW YORK (Reuters) - Target Corp (TGT.N) reported profit in the holiday quarter that fell short of analyst estimates on Tuesday, hurt by investments aimed at improving the competitiveness of its online operations and stores, sending shares down 2 percent in premarket trading.The big-box retailer has missed Wall Street’s fourth-quarter profit expectations for the past two years.Target is slat...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
LME prices slip as sentiment remains...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as s...Read More
The latest news and price moves to start the Asian day on Wednesday March 7.The three-month copper contract on the London Metal Exchange rebounded to more than $7,000 per tonne for the first time this month at the 5pm close on Tuesday March 6, with the metal undergoing a short-covering rally. Read more in our live futures report.Here are how LME prices looked at Tuesday's close:Comex cop...Read More
SHANGHAI/BEIJING (Reuters) - China’s central bank will probably have to respond to an expected U.S. interest rate rise at a particularly sensitive time later this month.Zhou Xiaochuan, the long-serving People’s Bank of China (PBOC) governor, is widely expected to be replaced during the annual meeting of China’s parliament, which started in Beijing on Monday.The U.S. Federal Reser...Read More
SHANGHAI, Mar 6 (SMM) – Nonferrous metals futures saw mixed trading on Tuesday March 6 as SHFE copper, aluminium and nickel edged up, while SHFE zinc lost over 2%. Lead and tin both fell close to 1%.The ferrous complex continued to weaken with iron ore slipping close to 2%. Coke and hot-rolled coil were down almost 1%, while rebar and coking coal edged down slightly.Copper: SHFE copper touch...Read More
Greencoat UK Wind (LON:UKW) investment manager Stephen Lilley caught up with Proactive Investors to discuss what's been a busy year for the company.Greencoat added 10 new wind farms to its portfolio, taking it to a total of 29.Current generation from the portfolio's now enough to power around 620,000 homes. Meet Scancell Holdings Plc, Advanced Blast & Ballistic Systems Ltd and TokenCommuniti...Read More
SHANGHAI, Mar 6 (SMM) – Nonferrous metals futures saw mixed trading on Tuesday March 6 as SHFE copper, aluminium and nickel edged up, while SHFE zinc lost over 2%. Lead and tin both fell close to 1%.The ferrous complex continued to weaken with iron ore slipping close to 2%. Coke and hot-rolled coil were down almost 1%, while rebar and coking coal edged down slightly.Copper: SHFE copper touch...Read More