SANTIAGO (Reuters) - Eleven countries are expected to sign a landmark Asia-Pacific trade agreement in Santiago on Thursday, as an antidote to the increasingly protectionist bent of the United States, which last year pulled out of the pact.The signing ceremony comes the day after Europe and the International Monetary Fund urged U.S. President Donald Trump to step back from the brink of a trade war...Read More
Offer prices from mills for European domestic steel beams rose slightly this week, helped by an uptick in scrap prices and more interest from customers, although buyers were less convinced about the health of the market, Metal Bulletin heard.Higher offer prices from mills widened Metal Bulletin's price assessment for S235-grade, 200x200mm category-2 H-beams made in Northern Europe upward by ?,?5 p...Read More
RAPAPORT... Mobile payment app Mazalit has raised $1.9 million infunding from diamond companies, and aims to begin piloting thetechnology in the near future.Israel-based MID House of Diamonds, Benma Diamonds, Novel Collectionand HND Diamonds are among the new investors in the start-up, founder and CEOZe'ev Maimon told Rapaport News this week. It aims to use the money to developits technology to th...Read More
GVC Holdings PLC's (LON:GVC) planned acquisition of Ladbrokes Coral PLC (LON:GVC) will be a key focus when the sports betting company reports its full year earnings on Friday.Ahead of its results, GVC said on Thursday that shareholders have approved its takeover of Ladbrokes, which is expected to deliver cost synergies of at least ?100mln a yearThe final price paid will depend on the outcome of t...Read More
(Reuters) - U.S. health insurer Cigna Corp (CI.N) said on Thursday it would buy pharmacy benefits manager Express Scripts Holding Co (ESRX.O) for about $54 billion, the latest deal in the sector aimed at tackling soaring healthcare costs.The move follows the $69 billion merger of insurer Aetna Inc (AET.N) and drugstore chain CVS Health Corp (CVS.N) announced last December, and highlights a sector-...Read More
Aluminium's three-month price recovered above $2,100 per tonne at the 5pm close on Thursday March 8, with all eyes on the United States' expected tariff announcement. President Donald Trump is expected to announce the official Section 232 import tariffs after 8pm London time, which held the aluminium three-month price steady throughout the day. It closed $8 higher at $2,106 per tonne. Tin was the...Read More
RAPAPORT... The Royal Canadian Mounted Police (RCMP) has arrestedand charged a man accused of stealing diamonds at the Diavik mine, the force saidWednesday. Samson Mkhitaryan is suspected of stealing more than $3,860 (CAD 5,000) in diamonds. The theft was "internal," the police noted. In February, Diavik Diamond Mines (DDM) - which Rio Tinto owns - reported the missing stones to the RCMP. The poli...Read More
Prices for long steel products are expected to increase across Europe in March with steel mills counting on a rise in consumption as the weather improves, market sources told Metal Bulletin this week. Cold and wintry weather conditions have restricted construction activity in Europe in recent weeks, thereby pushing down demand for long steel products. But weather and demand have both improved...Read More
RAPAPORT PRESS RELEASE, March 8, 2018, New York... Rapaport has released its newly redesigned report on themajor jewelry auction sales, providing detailed information on selling pricesin a clearer, more user-friendly format.Magnificent Jewels Auction Results presents comprehensivedata on sales of diamonds and colored gemstones at Christie's and Sotheby'sflagship auctions in New York, Geneva and Ho...Read More
Saddle up and hold on to your 10-gallon hat. There is a new tariff in town, and he’s not afraid of a little trade war. As expected, this afternoon President Trump made good on his pledge to implement strong tariffs on both steel and aluminum. Although it will exclude both Canada and Mexico, it will seek to target significant trade disparities between the United States and some of its trading...Read More
RAPAPORT... Belgium's polished-diamond exports slid last month,according to data from the Antwerp World Diamond Centre (AWDC). Polished exports decreased 6% year on year to $1.28 billion in February and, by volume, fell 5% to 503,890 carats. The average price declined 1% to$2,535 per carat. Polished exports to the US slumped 21% to $201.2 million,while shipments to Hong Kong dropped 10% to $667.6...Read More
The latest news and price moves to start the Asian day on Friday March 9.The London Metal Exchange's three-month aluminium contract recovered above $2,100 per tonne at the 5pm close on Thursday March 8, with all eyes on the United States' tariff announcement. Read more in our live futures report.Here are how LME prices looked at Thursday's close:The US announcement of a 10% tariff on alu...Read More
(Kitco News) - Although gold prices are struggling to find enough momentum to push through its elevated trading range, one fund manager said that it wouldn’t take much to drive prices to new multi-year highs.In a webinar at the start of the week, Will Rhind, CEO of GraniteShares, which manages the new gold-backed ETF (NYSE: BAR), said that he could see gold prices push to $1,475 an ounce if...Read More
SHANGHAI, Mar 8 (SMM) – Nonferrous metals fell across the board in the afternoon with SHFE nickel leading the loss with a 2% drop. Copper and zinc were down over 1%, aluminium slid almost 1%, and other metals edged down.The ferrous complex also saw a weak performance, with iron ore and rebar leading the slump and closing 4% lower. Coke and coking coal dropped over 3%, and hot-rolle...Read More
SHANGHAI, Mar 8 (SMM) – Nonferrous metals fell across the board in the afternoon with SHFE nickel leading the loss with a 2% drop. Copper and zinc were down over 1%, aluminium slid almost 1%, and other metals edged down.The ferrous complex also saw a weak performance, with iron ore and rebar leading the slump and closing 4% lower. Coke and coking coal dropped over 3%, and hot-rolle...Read More
RAPAPORT... Gem Diamonds has recovered a 152-carat stone from its Let??eng mine in Lesotho, the company said Wednesday. The white, type IIa diamond is the sixthstone over 100 carats the miner has unearthed since the start of 2018. InJanuary, Gem Diamonds found a 910-carat stone, which it claimed was thefifth-largest rough stone in history. Gem Diamonds' recovery of large stones has drivenits stron...Read More
SHANGHAI, Mar 8 (SMM) – Nonferrous metals fell across the board in the afternoon with SHFE nickel leading the loss with a 2% drop. Copper and zinc were down over 1%, aluminium slid almost 1%, and other metals edged down.The ferrous complex also saw a weak performance, with iron ore and rebar leading the slump and closing 4% lower. Coke and coking coal dropped over 3%, and hot-rolle...Read More
Metal Bulletin's London office brings you the latest news and pricing stories on Thursday March 8.The London Metal Exchange three-month copper price was over $100 per tonne lower in morning trading today, while nickel price dropped 2.8% from yesterday's 5pm close. A firmer dollar and geopolitical concerns over a potential trade war have led to the sustained weakness. Meanwhile, aluminium was...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
U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade. Index futures were virtually unchanged following release of Weekly Jobless Claims at 8:30 AM EST. Consensus was an increase to 220,000 from 210,000 last week. Actual was 231,000.The Canadian Dollar was virtually unchanged following release of Canada's February Housing Start report. Consen...Read More