Prices for containerized shredded scrap imported into India have fallen by around $5 per tonne this week with a continued freeze in trading activity, market sources told Metal Bulletin on Thursday March 29.Indian steel markets have been affected by low Chinese steel prices and the imposition of import tariffs by the United States in recent weeks, and uncertainty over the future direction of the gl...Read More
One division will focus on Carajas Copper and the other on CentroGold, with both having a dedicated general manager and being supported by the technical services group, which has been reinforced to accommodate growing exploration and development commitments.Under Carajas Copper, Otávio Monteiro has been promoted to general manager after being general manager of the Antas mine. Mike Sousa wa...Read More
* DXY firming as major market bond yields breaking hard lower* UST 30yr below 3 pct, yield curve at new lows* More evidence that global reflation theme in trouble* Spanish 10yr yield collapses, falls by almost 50 bps in past month* Message not consistent with ECB ending QE later in year, EUR vulnerable* USD could benefit from lowered expectations for growth/inflation abroad<^^^^^^^^^^^^^^^^^^^^...Read More
According to the United States Treasury its 261 million ounces ( ? 8,100 tonnes) in Continue...Read More
The analyst thinks the blue chip is headed back toward annual highsShares of oil-and-gas concern Chevron Corporation (NYSE:CVX) are up 0.4% at $112.58, after the stock received a price-target hike from Citigroup, to $133 from $125. The raise follows yesterday's dip for CVX stock, asoil prices fell after the Energy Information Administration (EIA) reported a bigger-than-expected rise in U.S. crude...Read More
(There will be no London-based FTSE report on Friday March 30 and Monday April 2 due to public holidays in the UK.)* FTSE 100 up 0.4 pct* FTSE set for worst quarter since 2011* Cyclicals lead gainsBy Kit ReesLONDON, March 29 (Reuters) - A recovery in cyclical stocks boosted the UK's top share index on Thursday, set for a mildly upbeat end to the FTSE 100's worst quarter in nearly seven years.The b...Read More
The shareholders voted in favour of all resolutions relating to the deal at a general meeting on Wednesday.DRD will now issue about 265 million shares to Sibanye-Stillwater in return for the assets, giving the latter a 38% holding in DRD.Sibanye-Stillwater also has a 24-month option to subscribe for enough shares to hold a 50.1% stake in DRD in exchange for cash.The approval was the milestone DRD...Read More
Export prices for Brazil-origin slab have gone unchanged this week, with no volumes being booked, but there is still positive price sentiment among market participants.Metal Bulletin's weekly assessment of Brazil's export slab prices was $580-590 per tonne fob on Thursday March 29, stable from the previous week.No offers were made because mills have not started booking June-shipment material yet,...Read More
SHANGHAI, Mar 29 (SMM) – Copper prices are likely to be rangebound at a relatively high level in 2018 as supplies of copper concentrate tighten, Jiangxi Copper said in its earnings report on Thursday March 28.The growth in global copper concentrate output is set to slow down in the next two to three years as the last round of copper mine investment comes to an end. Consumption, meanwhile, wi...Read More
The president tweeted about Amazon this morningStocks look ready to close the shortened week on a positive note, with Dow Jones Industrial Futures (DJI) futures trading above fair value this morning. Maybe more importantly, Nasdaq-100 (NDX) futures are also indicating a positive open, as tech heavyweight Facebook (FB) is pointed higher after the company cut ties with a number of data brokers.Amazo...Read More
Market slowing ahead of Passover andEaster. Recovery in watch industry lifts mood at Basel show, but event fails toraise diamond-dealer sentiment due to low attendance. Indian fraud cases increaseconcerns about credit. High rough prices reducing manufacturing profit, withpolished factories working below full capacity. Asian demand up, with Chow SangSang 2017 sales +3% to $2.1B, profit +18% to $112...Read More
Canada's Northwest Territories and Nunavut, two of the three regions with the lowest income per capita, have experienced a dramatic decline in exploration spending during the last ten years, data from Natural Resources Canada (NRCan) shows.According to NRCan most recent numbers, spending in the N.W.T. is expected to decline to $81.3 million this year, down from $90 million in 2017. Exploration spe...Read More
Investing.com - Gold prices were wallowing at one-week lows on Thursday, after sharp falls in the previous session on a rally in the dollar after data showing faster U.S. economic growth and hopes for a diplomatic breakthrough with North Korea.Gold futures for April delivery on the Comex division of the New York Mercantile Exchange slid $1.3 or 0.1% to $1,323.30 a troy ounce by 04:27 AM ET (08:27...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News)- Goldprices did not move much after a Labor Department report showed that initialweekly U.S. jobless claims fell by 12,000 to a seasonally adjusted 45-yearlow of 215,000 in the week to Saturday.Thegovernment said this is the lowest level for initial claims since Jan. 27,1973, when it was 214,000. Consensusexpecta...Read More
Prices in India for local secondary steel billet have increased by about 100 rupees per tonne in the current week, with demand for both semi-finished and finished products remaining steady and the number of inquiries rising toward the weekend.On Thursday March 29, prices for Indian domestic secondary billet, mainly produced through the induction furnace route, were 32,700-32,900 rupees ($503-506)...Read More
It aims to issue new shares at a price of £0.036 (US$0.051) per share, a discount of 12.2% to the closing mid-price of £0.041/share on March 28 and the same price as the Greenstone Resources subscription.Read More
(IDEX Online) - The 62nd Bangkok Gems and Jewelry Fair 2018 is to be held from September 7-11, at IMPACT Muang Thong Thani, Bangkok, Thailand. It will feature 900 companies in over 2,000 booths from selected domestic and overseas exhibitors. Goods on offer will include gemstones (precious stones, semi-precious stones), rough stones, diamonds, pearls, precious metal, synthetic...Read More
SHANGHAI, Mar 29 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index rose to 90 given the inflow of month-end capital and as concerns of a trade war eased. Positive economic data from the US released overnight also buoyed the index.Base metals saw mixed trading as SHFE metals, except for copper and lead, fell. L...Read More
* Month-end dollar bid may endure in April * Gilt demand flip is good news for sterling bulls * EUR/USD longs need range break before they run * EUR/USD options attractive as spot lacks direction * Options not yet convinced of further USD/JPY gains * USD/JPY wrong-footed shorts ripe for further squeeze * NAFTA deal could kick USD/CAD down to 1.25 Disclaimer: The views expressed in this article a...Read More