Domestic prices for cold-rolled coil in Southern Europe fell this week due to slow trading activity, sources told Metal Bulletin on Wednesday May 9.The Southern European market remained in 'wait-and-see' mode with participants waiting for a final decision from the United States about its Section 232 import tariffs and an expected announcement related to a safeguard case in the EU, sources sai...Read More

NEW YORK (Reuters) - The dollar fell on Wednesday from its strongest levels in 2018 against a basket of currencies due to mild profit-taking, but is expected to resume its rise due to solid U.S. economic growth and more interest rate increases from the Federal Reserve.The weaker greenback stemmed from a bounce in the euro, which hit a fresh year-to-date low in earlier trading.“There’s...Read More

Domestic prices for mesh-quality wire rod produced and delivered in both Northern and Southern Europe remained unchanged this week because of the low levels of market activity, sources said on Wednesday May 9.Public holidays in several European countries this week have contributed to the drop in activity.The Southern European domestic price for mesh-quality wire rod was ?,?525-550 ($624-654) per.....Read More

May 9 (Reuters) - Canada's main stock index climbed higher on Wednesday, as oil prices hit 3-1/2-year highs after President Donald Trump pulled the United States out of an international nuclear deal with Iran.* At 9:42 a.m. ET (1342 GMT), the Toronto Stock Exchange's S&P/TSX Composite Index rose 38.91 points, or 0.25 percent, to 15,881.62.* The U.S. withdrawal from the deal with Iran cast unce...Read More

The latest news and price moves to start the Asian day on Thursday May 10.Base metals prices on the London Metal Exchange were firm at the close of trading on Wednesday May 9, with copper's 1% climb leading a positive afternoon surge across the complex. Read more in our live futures report.Here are how prices looked at Wednesday's close:Latin American steelmaker Gerdau sees the results of the...Read More

In 45 years, the world has gone from energy shortage and fears of "Peak Oil" to an energy glut where it seems the world is drowning in oil and floating on a cloud of natural gas at the same time.Yet that may not last. My models predict a long-term rise in energy demand and energy prices.Of course, the same amount of energy has always been around. It's just a question of technology, geopolitics and...Read More

LONDON (Reuters) - U.S. asset manager MFS Investment Management said it will seek permission to create a European Union hub in Luxembourg as it positions itself for Britain’s exit from the bloc.MFS, which is owned by Canadian insurer Sun Life Financial (SLF.TO) and traces its roots to the launch of the first U.S. investment trust in 1924, has yet to make a final decision on the scale of any...Read More

Remember $100 per barrel oil?Oil prices peaked at $115 in June 2014. It seems like forever ago. What kind of behavior did this high price produce?Many oil producers assumed the $100 per barrel level was a permanently high plateau. This is a good example of the anchoring bias. Because oil was expensive, people assumed it would remain expensive.The fracking industry assumed oil would remain in a ran...Read More

The latest metal markets news and price moves to start the North American day on Wednesday May 9. Base metals on the London Metal Exchange edged slightly higher during morning trading, with nickel the only metal in the complex to trade lower."The base metals' recent attempts to rally ran into supply and prices are consolidating once again. The combination of less than bullish economic data, the st...Read More

WASHINGTON (Reuters) - U.S. President Donald Trump’s nominee to head the CIA will promise lawmakers on Wednesday she will never resume a program of harsh interrogations, often denounced as torture, that has been the major issue complicating her confirmation.Democratic senators have vowed to question nominee Gina Haspel, currently the spy agency’s acting director, about the issue at her...Read More

This week is all about the Oracle of Omaha.Over the weekend, Berkshire Hathaway held their annual shareholder meeting and The Daily Edge was in attendance to get the details.Although the main attraction was a six hour Q&A session with Warren Buffett and Charlie Munger, what really caught my eye were the subtle insights into Berkshire’s stock picking strategies that were shared throughout...Read More

Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Wednesday May 9. Base metals prices on the Shanghai Futures Exchange were down across the board during Asian morning trading on Wednesday, dragged lower by the stronger dollar. Zinc prices, trading little changed to weaker, were the most resilient of the complex.Check Metal Bulletin's live fut...Read More

HONG KONG (Reuters) - ZTE Corp’s (0763.HK)(000063.SZ) main business operations have ceased due to a ban imposed by the U.S. government, but the Chinese firm is trying to have the ban modified or reversed, it said in exchange filings late on Wednesday.ZTE last month was hit with a ban from Washington forbidding U.S. companies to supply it with components and technology after it was found to h...Read More

The average life expectancy in industrial and developing countries for those born in 2017 is 82 years for females and 76 years for males.Here in the U.S., it's about 78 overall.Yet according to a survey conducted by UBS Wealth Management, 53% of wealthy investors around the world expect to live at least 100 years, and they're adjusting their financial holdings and estate plans accordingly.The resu...Read More

BEIJING (Reuters) - Ford Motor Co’s imported vehicles are being held up at Chinese ports, three people with knowledge of the matter told Reuters, underscoring how U.S. goods are facing increased customs scrutiny in China amid a tense trade stand-off.The three people said Ford (F.N) cars and those of its premium Lincoln brand were facing unusual delays at customs, with officials asking for ex...Read More

LONDON (Reuters) - Oil prices rose more than 3 percent on Wednesday, hitting 3-1/2-year highs, after U.S. President Trump abandoned a nuclear deal with Iran and announced the “highest level” of sanctions against the OPEC member.Ignoring pleas by allies, Trump on Tuesday pulled out of an international agreement with Iran that was agreed in late 2015, raising the risk of conflict in the...Read More

May 9 (Reuters) - Stock futures for Canada's main equity index were higher on Wednesday as oil prices jumped after U.S. President Donald Trump pulled the United States out of a nuclear agreement with Iran.Trump's decision on Tuesday raised the risk of conflict in the Middle East, upsetting European allies and casting uncertainty over global oil supplies.June futures on the S&P TSX index were u...Read More

MUMBAI/NEW YORK (Reuters) - Walmart Inc (WMT.N) has agreed to pay $16 billion for a roughly 77 percent stake in Indian online shopping site Flipkart, the U.S. retailer’s biggest foreign investment as it battles rival Amazon.com Inc (AMZN.O) in one of the world’s biggest emerging markets.The deal, capping almost two years of talks, will help the Bentonville, Arkansas-based retailer fort...Read More

LONDON (Reuters) - Vodafone (VOD.L) has agreed to pay $21.8 billion to buy Liberty Global’s (LBTYA.O) assets in Germany and eastern Europe to take on rivals with a broader range of superfast cable TV, broadband and mobile services.The world’s second-largest mobile operator struck a deal with U.S. cable pioneer John Malone’s Liberty after years of on-off talks to become a pan-Euro...Read More

* Oil hits 3-1/2 year high after US exits Iran nuclear deal* US 10-year Treasury yield back above 3 pct* Germany, Portugal to sell bonds* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Updates throughout)By Saikat Chatterjee and Dhara RanasingheLONDON, May 9 (Reuters) - Most euro zone government bond yields rose on Wednesday as oil prices surged after U.S. President Donald Trump abandon...Read More