WASHINGTON (Reuters) - U.S. import prices rose less than expected in April as a rebound in the cost of petroleum products was tempered by a drop in food prices, the latest indication that inflation pressures were increasing moderately.The Labor Department said on Friday import prices rose 0.3 percent last month. Data for March was revised to show import prices falling 0.2 percent instead of being...Read More
PARIS, May 11 (Reuters) - Louis Dreyfus Company said on Friday it had completed the sale of its metals business to a Chinese investment fund for $466 million, as part of a push to revive profits by focusing on its core agricultural markets.Louis Dreyfus announced in December an agreement to sell LDC Metals to NCCL Natural Resources Investment Fund, without disclosing financial details.The metals b...Read More
BMO Capital Markets analyst Alex Terentiew visited the Cobre Panama site this week, and said First Quantum was clearly taking its time to get the mine right from the time production starts.Read More
A judge ruled that a bar was well within its right to kick out Trump supporters. And this is great news.Not because I have any particular animosity towards Trump supporters (any more than other enablers of government oppression). I’m not saying Trump supporters should be kicked out of bars. If I owned a bar I certainly wouldn’t kick out Trump supporters. After all, it’s not lik...Read More
Prices for containerized shredded scrap imports into India went down this week with the weakness of the rupee against the dollar putting buying activity on hold, market sources told Metal Bulletin on Friday May 11.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was $385.94 per tonne cfr Nhava Sheva on May 11, down by $4.79 week-on-week from $390.73 per tonne cf...Read More
SHANGHAI, May 11 (SMM) – Nonferrous metals futures saw mixed trading on Friday May 11. SHFE lead led the gains with a rise of over 1%. Copper grew nearly 0.7%, and aluminium inched up. Zinc, nickel, and tin went down slightly. The ferrous complex strengthened across the board with more gains in the afternoon. Coke rose nearly 3.2% from Thursday, iron ore gained almost 3%, while rebar, h...Read More
It can't happen here! What is happening in Venezuela and Argentina cannot occur in Western economies. That's at least what markets believe with stocksContinue...Read More
(Reuters) - Silver Lake is buying Zoopla and PrimeLocation owner ZPG for 2.2 billion pounds, landing the Daily Mail publishing group a 642 million pound windfall for cashing out ofonline property portals.Along with rival and market leader Rightmove, ZPG dominates online searches by people looking to buy or rent homes in Britain. Zoopla's sites carry property listings for nearly 15,000 estate agent...Read More
President Trump will give a speech on drug prices todayDow Jones Industrial Average (DJI) futures are trading above fair value this morning, with the blue-chip index set to add to yesterday's inflation-fueled upside. The Dow has its sights set on a seventh straight win, which would mark its longest winning streak since November. The CBOE Volatility Index (VIX), meanwhile, appears headed for its f...Read More
(Bloomberg) - Glencore Plc and former partner Dan Gertler are trying to settle a dispute over unpaid royalties at a key Congolese copper mine, according to two people with knowledge of the matter.A scheduled hearing in a London court Friday was postponed as both sides worked to come to an amicable solution, according to the people, who declined to be identified, because the negotiations aren't pu...Read More
According to its 30.4% shareholder Stratex International (AIM:STI), Thani Stratex asked for a hold on its Blackrock and Cussra licences instead of a proper renewal, which was not possible under the Ethiopian mining code.Stratex handed the company $200,000 at the end of 2017 to keep working on its Egypt and Djibouti prospects.The Ethiopia prospects were not mentioned in Thani Stratex's most re...Read More
Gambling rules in the US are inconsistentOnline gambling has produced even more grey areasFor now, online gambling is legal in four statesThe US's regulated gambling industry makes at least $41bnPresident Trump is yet to reveal his official stance on gamblingAmerica is a strange place when it comes to gambling. Like a lot of America’s laws, gambling changes from state to state, with local go...Read More
"I don't care about the price of gold. I view gold as a wealth preserver. I would love it to go to $1,800 [an ounce] tomorrow, but that's not its purpose."Read More
The blockchain stock is trading higher in pre-market actionRiot Blockchain Inc (NASDAQ:RIOT) grabbed headlines late last year, as the former biotechnology firm was one of a handful of companies to suddenly transition its business to focus on blockchain. RIOT shares rose from below $5 in September to as high as $46.20 by Dec. 19. However, these gains quickly evaporated, with the equity crashing in...Read More
By Amrith Ramkumar and David Hodari A declining dollar boosted gold and other metals for the second straight session Friday. Gold for June delivery added 0.1%, to $1,323.60 a troy ounce, on the Comex division of the New York Mercantile Exchange. Prices have stayed between about $1,305 and $1,360 this year, moving within that range based on swings in the U.S. currency, worries about higher intere...Read More
UK ferrous scrap prices for monthly deliveries to consumers in May were unchanged this month, with any possible planned price increases cancelled out by the weakness of sterling against the dollar, trade sources told Metal Bulletin on May 11.Prices for trend-indicating grades in the UK such as HMS 1&2 (old steel) and OA (plate and structural) were flat this week, remaining at ?180-205 ($244-277)...Read More
SHANGHAI, May 11 (SMM) – Both production and sales of vehicles in China saw month-on-month declines in April but maintained their stable year-on-year increases, according to data from the China Association of Automobile Manufacturers (CAAM).China’s vehicle sales reached 2.32 million units in April, down 12.7% from a month ago but up 11.5% from a year ago. This brought the January-April...Read More
WASHINGTON (Reuters) - St. Louis Federal Reserve Bank President James Bullard on Friday spelled out the case against any further interest rate increases, saying rates may already have reached a “neutral” level that is no longer stimulating the economy.Going further at this point, he said, risks nipping off business investment that might follow the recent corporate tax cut, upset health...Read More
Chile's Caserones copper operation, majority-owned by Japan's top smelter, JX Nippon Mining & Metals, in conjunction with fellow miner Mitsui Mining & Smelting Co., and in which Mitsui Co. has a 22.63%-stake, continues to be a source of pain for the companies, as they struggle to bring it to full capacity and meet profit targets.The mine, behind schedule ever since it began producing in May 2014,...Read More
An average grade of 2.3% vanadium in magnetite concentrates produced from nine drill holes was achieved by Pursuit, with the company making the point that only the Maracas and Rhovan mines in Brazil and South Africa, respectively, produce magnetite concentrates consistently grading above 2.2% vanadium - at 3% and 2.3%, respectively.Pursuit said the high-grade vanadium mineralisation at Koitelainen...Read More