RAPAPORT... Lipari Mining predicts sales from its Bra??na diamond mine in Brazil will rise 11% to $50.6 million this year, as it expects a rise in the recovery of large stones at the operation.The company achieved an average price of $201 per carat last year, but sees that jumping to $220 per carat in 2018, as it is commissioning a large-diamond recovery circuit this month."We expect to see an inc...Read More
Investors will naturally have a keen interest in the ongoing integration of the recently acquired Regal Entertainment business when Cineworld PLC (LON:CINE) reports full-year numbers on Thursday, though, according to Deutsche Bank analyst James Wheatcroft, financial results statement will be too soon for a "meaningful" update.Wheatcroft, in a preview note, highlighted that investors in the cinema...Read More
LONDON (Reuters) - Talks on Britain’s withdrawal of the European Union pose the biggest short-term risk to European financial markets, BlackRock’s deputy chief investment officer for fixed income Scott Thiel said on Wednesday.Britain is in the middle of negotiations with the European Union to try to agree the terms of a transition deal to cover the period after it leaves the bloc.&ldqu...Read More
Teck Resources and Asian smelters have agreed to cut annual lead concentrate treatment charges (TCs) by 28% in 2018 supply contracts, sources with knowledge of the deals told Metal Bulletin.The deals bring lead concentrate TCs, fees paid to smelters for the costs of processing concentrates into metal, down to $99 per tonne from $138 per tonne last year. Market sources also noted a drop in containe...Read More
LONDON (Reuters) - Prudential (PRU.L) is to spin off its British and European business from its international operations, breaking up the 170-year-old insurer to refocus on faster-growing markets in the sector’s latest major shake-up.British insurers have been changing strategy to reduce exposure to capital-intensive products following the introduction of rigorous European solvency rules two...Read More
Prices for rebar produced and delivered in Southern Europe widened upward by ?,?10 per tonne this week amid higher scrap costs, sources told Metal Bulletin on Wednesday March 14.Metal Bulletin's weekly domestic price assessment for rebar in Southern Europe widened upward to ?,?525-545 ($649-674) per tonne delivered on Wednesday, compared with ?,?525-535 per tonne delivered one week ago."Domestic s...Read More
(Kitco News) - Just under a year ago an ounce of gold cost the same as one bitcoin, said Bloomberg Intelligence's Mike McGlone, adding that prices are about to converge once again as the Federal Reserve proceeds with its monetary policy tightening this year.Fed rate hikes played a big role in gold and bitcoin’s paths this past year, McGlone said in a note on Monday, specifying that December...Read More
Base metals prices on the London Metal Exchange are for the most part consolidating this morning, Wednesday March 14, although copper and lead prices are showing gains of 0.5% and 0.3% respectively, with the former at $6,984 per tonne.Volume has been average with 7,085 lots traded as of 07.06am London time. This follows a day when most prices rebounded on Tuesday, with the complex closing up by an...Read More
(Reuters) - Singapore-based Broadcom Ltd withdrew its $117 billion bid to acquire Qualcomm Inc on Wednesday, two days after U.S. President Donald Trump blocked the attempt citing national security concerns.The company said it has also withdrawn its slate of independent director nominees for Qualcomm’s annual shareholder meeting.Broadcom, however, expects to continue with its plan to redomici...Read More
The latest news and price moves to start the Asian day on Thursday March 15.Base metals prices on the London Metal Exchange were on divergent paths at the close on Wednesday March 14, with copper driving higher while the rest of the complex retreated. Read more here in our live futures report.Here are how LME prices looked at Wednesday's close:Metal Bulletin has learned that Teck Resources ha...Read More
Is this the quiet before the storm or the quiet before the quiet? Gold is trading in a narrow and defined trading range. Only eight dollars separates the intraday low and intraday high for today’s trading range. Currently gold futures, basis the most active April contract, is trading -$1.40 lower and fixed at $1,325.70.With next week’s FOMC meeting, traders across the board are looking...Read More
The latest metal markets news and price moves to start the North American day on Wednesday March 14. Base metals prices on the London Metal Exchange were higher across the board this morning, following better-than-expected data releases from China. The base metals are building on Monday's rally with nickel hitting above $14,020 per tonne for the first time in March, while copper recovered back abo...Read More
SHANGHAI, Mar 14 (SMM) – Following the release of China’s upbeat economic data, most base metals registered a rise today. SHFE aluminum rose close to 1%, while tin dipped close to 1%. Copper, nickel, zinc inched up.The ferrous complex rose across the board, as coking coal led with a gain of 2.7%. Iron ore jumped over 2%. Coke and hot-rolled coil went up about 1%, while rebar increased...Read More
SHANGHAI, Mar 14 (SMM) – Following the release of China’s upbeat economic data, most base metals registered a rise today. SHFE aluminum rose close to 1%, while tin dipped close to 1%. Copper, nickel, zinc inched up.The ferrous complex rose across the board, as coking coal led with a gain of 2.7%. Iron ore jumped over 2%. Coke and hot-rolled coil went up about 1%, while rebar increased...Read More
(Kitco News) - While companies are racing into the future to create the latest digital currency, one company has looked to the past for the ultimate global currency.U.K.-Based fintech start-up Glint Pay continues to grow in popularity throughout Britain and Europe as the company has breathed new life into the gold market, monetizing the precious metal for the 21 century.The company made internatio...Read More
SHANGHAI, Mar 14 (SMM) – Following the release of China’s upbeat economic data, most base metals registered a rise today. SHFE aluminum rose close to 1%, while tin dipped close to 1%. Copper, nickel, zinc inched up.The ferrous complex rose across the board, as coking coal led with a gain of 2.7%. Iron ore jumped over 2%. Coke and hot-rolled coil went up about 1%, while rebar increased...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for the February Producer Price Index was an increase of 0.2% versus a gain of 0.4% in January. Actual was an increase of 0.2%. Excluding food and energy, consensus for the February Producer...Read More
(Kitco News) - Gold prices were ending the U.S. day session modestly lower Wednesday, pressured slightly by a firmer U.S. dollar index. The yellow metal ignored a batch of U.S. economic data released earlier today, including a producer price index report that was a bit hotter on inflation than expected. April Comex gold futures were last down $2.70 an ounce at $1,324.40. May Comex silver was last...Read More
Good morning from Metal Bulletin's office in Shanghai as we bring you the latest news and pricing stories on Wednesday March 14.Base metals traded on the Shanghai Futures Exchange were mostly higher during Asian morning trading on Wednesday, underpinned by a weaker dollar and healthy data releases from China.Tin was the only metal to weaken so far this morning, while the rest of complex pushed hig...Read More
SHANGHAI, Mar 14 (SMM) – Nonferrous and ferrous metals in the Shanghai market rebounded across the board and remained firm on the morning of Wednesday March 14 as data on China's economy in January and February were released, SMM found. The National Bureau of Statistics (NBS) released the report on China's economy for the first two months in 2018.Vice president of Zhongda Future...Read More