WASHINGTON, (Reuters) - U.S. consumer prices cooled in February amid a decline in gasoline prices and a moderation in the cost of rental accommodation, the latest indication that an anticipated pickup in inflation probably will be only gradual.The Labor Department said its Consumer Price Index rose 0.2 percent last month after jumping 0.5 percent in January. In the 12 months through February, the...Read More
VANCOUVER (miningweekly.com) – Explorer Diamcor Mining has launched a nonbrokered private placement worth C$5-million in an effort to address the insufficient recoveries of water from the settling dams at its Krone-Endora at Venetia project, in South Africa's Northern Cape province.The TSX-V-listed miner is finalising installation of a paste thickening plant and associated operational eq...Read More
(IDEX Online) - Russian diamond mining giant ALROSA said it had prepaid $450 million of bank loans. ALROSA made an early repayment of a $250 million loan from Rosbank, and a $200 million portion of the existing Raiffeisenbank loan, both raised in December 2017. The repayments reduce its debt by more than 27% to $1.17 billion. The bank loans were repaid with the cash proceeds r...Read More
LONDON (Reuters) - Oil rose on Tuesday, after Libya said loadings of crude at a key port had been suspended, offseting an earlier dent to the price caused by evidence of the inexorable growth in U.S. oil output.All loadings at the Libyan oil export port of Zawiya, which exports crude from the 308,000-barrel per day El Sharara field, have stopped due to a strike, a Libyan website said.Brent crude f...Read More
Movements in flat steel import prices in the United Arab Emirates and Saudi Arabia varied by commodity this week but overall demand was still not strong, sources told Metal Bulletin on Tuesday March 13.UAEHot-rolled coil (HRC) was being offered to the UAE at $620-630 per tonne cfr from China and at $640-650 per tonne cfr from India, while buyers were bidding $620-630 per tonne cfr.Metal Bulletin's...Read More
MOSCOW, March 13 (Reuters) - Russia-focused fertiliser producer Eurochem said it has produced its first potash at its new $2 billion Usolskiy plant in Russia.The project may intensify competition among suppliers of the crop nutrient in the region, traditionally dominated by Russia's monopoly producer Uralkali and Belarusian miner Belaruskali.Privately-held Eurochem, one of the world's largest prod...Read More
JOHANNESBURG (miningweekly.com) – Diamond miner Alrosa has used the proceeds of the cash sale of its gas assets to repay $450-million in bank loans.The company announced on Monday that it had repaid a $250-million loan from Rosbank and a $200-million portion of its existing Raiffeisenbank loan, reducing its debt by more than 27% to $1.17-billion.AdvertisementThe early repayment of the loans...Read More
(Reuters) - U.S. President Donald Trump on Monday blocked microchip maker Broadcom Ltd’s(AVGO.O) proposed takeover of Qualcomm Inc(QCOM.O) on national security grounds, ending what would have been the technology industry’s biggest deal ever amid concerns that it would give China the upper hand in mobile communications.The presidential order reflected a calculation that the United State...Read More
OBR revises GDP forecastsInflation set to ease over next yearBorrowing forecasts loweredHammond says Brexit talks have made progress 1.30pm: Economy has slightly more momentum in near-term, says OBRThe OBR has released a statement explaining its revised forecasts for UK economic growth. "The economy has slightly more momentum in the near term, thanks to the unexpected strengt...Read More
The Turkish steel scrap market remained quiet on Tuesday March 13, with the mills in the country holding back from deep-sea scrap purchases since the end of last week.The mills stepped back from the market after the Section 232 tariffs were officially signed in the United States, imposing a 25% import duty on all steel products. The Turkish mills are now watching the market to see what direction i...Read More
Although not a fall from grace, the U.S. dollar lost further ground today in response to the departure of the U.S. Secretary of State Rex Tillerson, as well as the CPI data report. Now for the third consecutive day, the U.S. dollar has traded under pressure to close lower on the day, as well as containing a lower low and lower high than the previous session.As of 4:00 PM Eastern standard time, the...Read More
STRASBOURG (Reuters) - Speeches made about the future relationship between Britain and the European Union needed to be translated into treaties and agreements as soon as possible, EU Commission President Jean-Claude Juncker said on Tuesday.“It is obvious that we need further clarity from the UK if we are to reach an understanding on our future relationship,” Juncker told a plenary sess...Read More
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The latest news and price moves to start the Asian day on Wednesday March 14.Lead was the strongest performer on the London Metal Exchange on Tuesday March 13, closing 2.2% higher at the 5pm close. Read more in our live futures report.Here are how LME prices looked at Tuesday's close:Early starts to the multitude of labor negotiations due at Chilean copper mines this year could mitigate the r...Read More
(Kitco News) - Gold prices were ending the U.S. day session with moderate gains early Tuesday afternoon. The precious metals saw some safe-haven demand due to increasing concerns about turmoil in the Trump administration. A lower U.S. dollar index on this day also worked in favor of the metals bulls. April Comex gold futures were last up $5.70 an ounce at $1,326.50. May Comex silver was last up $0...Read More
Things have been looking up a bit of late for Morrisons, which presents its full-year results on Wednesday.The supermarket chain had a strong finish to 2017 and it came out on top alongside market leader Tesco PLC (LON:TSCO) in the latest industry sales figures.Analysts at Jefferies predict sales in 2017 rose by 4% to ?16.3bn and pre-tax profit climbed by 8% to ?366mln.Jefferies recently upgrade...Read More
STRASBOURG (Reuters) - The European Union’s Brexit negotiator Michel Barnier hammered home again on Tuesday that Britain would not retain its current privileges, including on trade, once it leaves the bloc.The EU and Britain are hoping to seal a deal this month on a transition period after Brexit, and start talks on the future relationship this spring.But mounting differences over Britain&rs...Read More
Price slide continues as SHFE stocks...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
SHANGHAI, Mar 13 (SMM) – Nonferrous metals saw mixed trading today as aluminium led losses with a drop of nearly 2%. SHFE lead fell over 1%, while copper and tin edged down. Zinc and nickel inched up.The ferrous complex fell across the board as coking coal led the slump with a drop of more than 3%. Coke fell over 2%. Rebar, iron ore, and hot-rolled coil edged down.Copper: The SHFE 1805 contr...Read More
SHANGHAI, Mar 13 (SMM) – Nonferrous metals saw mixed trading today as aluminium led losses with a drop of nearly 2%. SHFE lead fell over 1%, while copper and tin edged down. Zinc and nickel inched up.The ferrous complex fell across the board as coking coal led the slump with a drop of more than 3%. Coke fell over 2%. Rebar, iron ore, and hot-rolled coil edged down.Copper: The SHFE 1805 contr...Read More