Manufacturers, particularly in the technology and automotive sectors, are under increasing pressure from customers to demonstrate that products are made with responsibly-sourced materials. Transparent supply chains that trace where the materials come from and what practices were used to produce them are expected by shareholders and the public. But unlike similar programs gaining momentum in other...Read More
After laboring for three decades as a truck driver for UPS, Van Alstyne was guaranteed $5,141 a month by the The New York State Teamsters Conference Pension and Retirement Fund.Continue...Read More
The monthly JOLTS report is also due out later todayDow Jones Industrial Average (DJI) futures are signaling alower start this morning, as caution sets in ahead of this afternoon's 2 p.m. ET announcement from President Donald Trump, who is expected to give his decision on the Iran nuclear deal. Ahead of the highly anticipated event, oil prices are churning near the $70-per-barrel mark, with Jun...Read More
WASHINGTON (Reuters) - U.S. job openings surged to a record high in March, suggesting that a recent slowdown in hiring was probably the result of employers having difficulties finding qualified workers.Job openings, a measure of labor demand, increased by 472,000 to a seasonally adjusted 6.6 million, the Labor Department said on Tuesday in its monthly Job Openings and Labor Turnover Survey, or JOL...Read More
The global construction sector will grow at an average of 3.7% per year over the next five years, reaching an annual value of $12.4 trillion by 2022, compared with $10.4 trillion in 2017, a rebar producers' conference has heard.This growth will in turn provide solid long-term fundamentals for the long steel products market, Jose Angel Ray, international commercial director for the Celsa Group, tol...Read More
LUBIN, Poland, May 8 (Reuters) - One of the world's biggest copper miners, KGHM Polska Miedz SA, expects this year's consolidated net profit to match or exceed last year's result despite lower capacity, acting Chief Executive Officer Rafal Pawelczak said on Tuesday.Last year group's net profit amounted to 1.57 billion zloty ($434.58 million), but this year the company had to close one of its produ...Read More
Concrete installation for the mill foundation at Wahgnion in Burkina Faso is scheduled for this month and Teranga is aiming for first gold from the project before the end of 2019.Read More
SHANGHAI, May 9 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index broke the 93 level and registered a fresh, four-month high of 93.29 overnight following hawkish comments from the Federal Reserve Board chairman Jerome Powell. US President Donald Trump’s announcement to withdraw the US from the Iran nuclear de...Read More
TXT has found support atop two key technical levels Shares of aerospace and security concern Textron Inc. (NYSE:TXT) have been on a tear over the past two years. More recently, the stock gapped almost 7% higher the day after the company's first-quarter earnings beat late last month, and soared to a nearly 10-year high of $65.99 by April 20. And while the shares have pulled back from here, they fou...Read More
Shares in base metals producer Nevsun Resources (TSX, NYSEMKT:NSU) skyrocketed on Tuesday after the company's board unanimously rejected a Cdn$1.5-billion (about $1.2bn) unsolicited bid from fellow Canadian miners Lundin Mining and Euro Sun Mining.The suitors had disclosed late on Monday the takeover offer for Vancouver-based Nevsun, noting their disappointment for not having been able to reach a...Read More
Prices for steel rebar in the United Arab Emirates and Saudi Arabia were stable this week while demand remained weak, sources told Metal Bulletin on Tuesday May 8. The market also was expected to remain slow in the coming weeks because of the Islamic holy month of Ramadan, which begins in mid-May, when working hours are reduced.Domestic rebar The major rebar producers in the UAE announced new pric...Read More
Investing.com - Gold prices edged lower on Tuesday as strength in the dollar continued to act as a headwind for the precious metal. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange dipped $1.90 or 0.14% to $1,312.20 a troy ounce by 04:31 AM ET (08:31 AM GMT).Last week prices fell to their lowest levels in two months and posted a third consecutive weekly decl...Read More
The 200kg of concentrate was produced after production from a pilot plant was reprocessed through a polishing circuit, with samples now being sent to potential customers for assessment.Black Rock said the "value proposition" for high-grade concentrate had recently been made by Syrah Resources, which is reportedly now targeting grades of 97-98%."Being able to generate ultra-high grade product using...Read More
SHANGHAI, May 8 (SMM) – Nonferrous metals futures rose for the most part on Tuesday May 8 but at slower rates from the previous day. SHFE zinc led the gains with an increase of 1.34%, lead grew over 1% and aluminium and copper inched up. Nickel fell from highs to close nearly 1% higher. Tin dipped nearly 0.9% from Monday.The ferrous complex saw mixed&n...Read More
The precious metal has been resting heavily on support at $42,000 per kilogramGold prices have been drifting steadily lower in recent months, as traders have lost some of their appetite for "safe haven" investments amid an increasing shift toward diplomacy on major geopolitical issues, including North Korea's denuclearization and the ongoing U.S.-China trade discussions. The COMEX June futures con...Read More
A legal case to dissolve a Glencore mining subsidiary in the Democratic Republic of Congo has been suspended pending a decision by the Supreme Court, the mining giant said on Tuesday. Congo's state miner Gecamines is seeking to dissolve Kamoto Copper Company (KCC), blaming Glencore for high debts that have weighed on the mine for more than 10 years.The temporary suspension comes after the Supreme...Read More
Turkish steel producers have resumed their deep-sea scrap purchases, trading two US shipments and a UK cargo in the past few days, sources said on Tuesday May 8.The mills in the country were waiting until the International Rebar Producers & Exporters Association (Irepas) conference in Warsaw, which ends today, to see which direction the market moves, and decided to pay slightly higher prices for d...Read More
World focus is on Trump's Iran decision. My personal view is that the Nuclear deal with Iran will be cancelled. New trade sanctions will be imposed on Iran. Republican-Saudi nexus want crude oil prices to form a lower floor at $100. They want crude oil prices to rise to $100 as soon as possible. In order to achieve this motive, trade sanctions on Iran will have to be imposed on some pretext. Nat...Read More
(Adds futures, company events)May 8 (Reuters) - Britain's FTSE futures FFIc1 were down 0.02 percent ahead of the cash market open on Tuesday.* TAKEDA-SHIRE: Takeda Pharma 4502.T agreed to buy London-listed Shire SHP.L for 46 billion pounds ($62.42 billion) on Tuesday after the Japanese company raised the amount of cash in its offer to $30.33 to secure a recommendation. WILLIAM HILL: British book...Read More