"Bank of America Merrill Lynch went to astonishing lengths to defraud its own institutional clients about who was seeing and filling their orders." Continue...Read More

WASHINGTON (Reuters) - U.S. consumer confidence fell from more than a 17-year high in March amid stock market volatility, but households remained upbeat about labor market conditions, which could help to support consumer spending.The Conference Board said on Tuesday its consumer confidence index dropped 2.3 points to a reading of 127.7 this month from a slightly downwardly revised 130.0 in Februar...Read More

By Gordon LongLet's start by making sure we understand the terminology we will be using in our discussion today. Too many times I hear people use these terms in the wrong and often confusing context.LIQUIDITY: is about AVAILABILITY of Money & Credit. This is the role of the central bankers, that is to ensure there is always sufficient but not excessive Money Supply available. Historically the pr...Read More

It's not a big deal; only around $350m, but the Oz Minerals bid for Avanco Resources is another sign that quality assets can command a premium in a copper market hungry for new supply.Glencore owns 8% which sets up the tantalizing, albeit slim, prospect of a counter offer from the world's number three copper producerOz Minerals' cash and shares offer on Tuesday was made at a 121% premium to the ru...Read More

Roku's post-IPO lock-up period expires todayRoku Inc (NASDAQ:ROKU) stock is lower today, down 1.5% at $34.06, despite receiving some bullish analyst attention this morning. Citigroup upgraded the streaming device stock to "neutral" from "sell," while raising its price target to $36 from $33. The upgrade comes ahead of the stock's initial public offering (IPO) lock-up expiration today. It's been...Read More

Reporting By Greg Torode and James Pearson, additional reporting by Ben Blanchard. Editing by Lincoln Feast.Continue...Read More

Iron ore prices recovered to $65 per tonne cfr China on Tuesday March 27 following a recovery in the futures market.Metal Bulletin's 62% Fe Iron Ore Index Today: $65.17 per tonne cfr QingdaoDaily change: up $0.84 per tonneMonth-to-date average: $70.85 per tonneMetal Bulletin's 58% Fe Premium Index Today: $52.44 per tonne cfr QingdaoDaily change: up $1.01 per tonneMonth-to-date average: $57.10 per...Read More

Kinross Gold Corp. (TSX: K, NYSE: KGC)says it was able to resolve a U.S. Securities and Exchange Commissioninvestigation of its West African mining operations “without any materialadverse effect on the company’s financial position or business operations.” The SECannounced Monday that the probe was resolved when Kinross - withoutadmitting or denying the findings -- agreed to aceas...Read More

BEIJING, March 27 (Reuters) - Chinese miner and metals trader Jinchuan Group International Resources Co Ltd said on Tuesday its 2017 net profit was almost five times bigger than a year earlier due to higher cobalt and copper prices.Jinchuan, which operates the Ruashi copper and cobalt mine in the Democratic Republic of Congo and the Chibuluma copper mine in Zambia, posted net profit of $41.6 milli...Read More

SHANGHAI, Mar 27 (SMM) – Nonferrous metals saw mixed trading on Tuesday March 27. SHFE nickel and tin dipped while zinc gained 1.4%. SHFE aluminium and lead rose close to 1%, and copper inched up.Among ferrous metals, coke closed 0.7% lower. Rebar rose over 2%, hot-rolled coil gained 1.6%, iron ore and coking coal edged up about 1%.Copper: The SHFE 1805 contract mostly traded above moving av...Read More

It's currently one of the top hedge fund holdings in its sectorAmid anecdotal reports suggesting the long bank trade is extremely popular, investment banking concern Citigroup Inc (NYSE:C) stands out as one of the top hedge fund holdings in the sector. Unfortunately, C's chart isn't quite as bullish as the consensus outlook on financial stocks right now -- and at the same time, we're seeing eviden...Read More

(Updates to U.S. equity market close)* U.S. stocks struggle to maintain momentum; tech stocks fade* Buying lifts Treasury prices even with Europe, Asia stocks higher* Reports China and U.S. quietly working to avoid trade warBy Trevor HunnicuttNEW YORK, March 27 (Reuters) - U.S. stocks sank in late trading on Tuesday, with faltering technology shares reversing a global stock rally that had swept th...Read More

The inferred mineral resource at December 31, 2017, was 3.36 million ounces of gold (including refractory) at 3.93g/t, increased primarily through exploration at the Wassa underground gold mine in western Ghana. This compared with the 3.13Moz at 4.77g/t at the end of 2016.Measured and indicated mineral resources were largely unchanged on the year at 4.4Moz of gold, while proven and probable minera...Read More

Ignore the hype about the death of the dollar and currency whales. The PetroYuan is a US success story.Continue...Read More

Prices for imported billet in the United Arab Emirates fell this week on lower offers, while strong demand pushed up domestic rebar prices, sources told Metal Bulletin on Tuesday March 27.Demand for imported rebar in both the UAE and Saudi Arabia remained weak, however. Domestic rebar The major rebar producers in the UAE announced new rebar prices on Monday, March 26. The biggest steel p...Read More

Mining giant Rio Tinto (ASX, LON:RIO) has agreed to sell its Kestrel coal mine in Australia to private equity manager EMR Capital and Indonesian coal company Adaro Energy, in a deal worth $2.25 billion.The transaction makes of Rio Tinto the first major miner to exit the coal industry, and comes only a week after it announced the $1.7 billion-sale of its Hail Creek Mine, also in Australia, to Glen...Read More

WASHINGTON (Reuters) - U.S. President Donald Trump discussed trade practices with China in calls on Tuesday with French President Emmanuel Macron and German Chancellor Angela Merkel, the White House said.Trump and Merkel also discussed “joining forces to counter” China’s economic practices and alleged intellectual property theft, the White House said, in what would be a further e...Read More

Today's downside extends recent technical troubles for the sharesShares of Longfin Corp (NASDAQ:LFIN) are trading down 22.5% at $45.95 -- extending Monday's 16.6% decline. Sparking the sell-off in the blockchain name is a scathing Citron Research tweet -- which also weighed in on Shopify (SHOP) yesterday -- calling LFIN a "pure stock scheme," and saying its filings and press releases are "riddled...Read More

(Updates to afternoon U.S. trading)* Reports China and U.S. quietly working to avoid trade war* U.S. stocks struggle to maintain momentum; tech stocks fade* Buying lifts Treasury prices even with Euro, Asian stocks higherBy Trevor HunnicuttNEW YORK, March 27 (Reuters) - U.S. stock indexes were at session lows in the last hour of trading on Tuesday as faltering technology shares threatened to rever...Read More

SHANGHAI, Mar 27 (SMM) – The current high copper inventories at global exchanges are set to impose further pressure on the already weak prices, SMM believes.Copper inventory at LME grew 31,225 mt on Tuesday March 27, after it jumped 35,000 mt a day before. This lowered stocks to 383,975 mt, the highest level since May 2017. Cancelled warrants stood at 11.8% on Tuesday, down from 13...Read More