SHANGHAI, Mar 30 (SMM) – Nonferrous metals futures rose for the most part except for aluminium during the afternoon trading session on Friday March 30. SHFE tin was up over 2.6%, nickel was up above 2%, copper gained over 1%, lead grew nearly 1%, and zinc inched up some 0.6%.Ferrous metals rose across the board with coking coal up close to 6%. Rebar gained over 4%, hot-rolled coil and coke w...Read More
SHANGHAI, Mar 30 (SMM) – To improve air quality, the city of Handan plans will oversee staggered production during non-heating season from April 1-November 15, 2018. The city will intensify their efforts to regulate key companies, reduce pollutant emission from manufacturers, reinforce control on emission from heavy duty trucks and overhaul traffic control....Read More
March 30 (Reuters) - The following table shows rates forAsian currencies against the dollar at 0207 GMT.CURRENCIES VS U.S. DOLLAR CURRENCIES VS U.S. DOLLAR Change on the day at 0207 GMT Currency Latest bidPrevious dayPct Move Japan yen106.140 106.42+0.26 Sing dlr 1.311 1.3107-0.02 Taiwan dlr 29.13629.165+0.10 Korean won 1064.1001065.9+0.17 Baht 31.22031.24 +0.06 Ringgit3.857 3.866 +0.23 Yuan 6.280...Read More
It's been an eventful past couple of weeks in the uranium subsector, even if the spot price for uranium oxide has shown little positive response.In the U.S., the Trump administration's Department of Energy (DOE) has suspended sales from its uranium oxide stockpiles for the rest of the government's fiscal year (until Sept. 30, 2018).The Portsmouth gaseous-diffusion uranium enrichment facility in Pi...Read More
TOKYO (Reuters) - Finance Minister Taro Aso said on Friday that Japan must avoid entering a free trade agreement (FTA) with the United States to rectify trade imbalances.Japan supports the postwar global trend of promoting multilateral trade frameworks, and the recent signing of the Trans-Pacific Partnership free trade deal was a significant development even without the participation of the United...Read More
Jonathan StempelNEW YORK (Reuters) - HSBC Holdings Plc (HSBA.L) has agreed to pay $100 million to end private U.S. litigation accusing it of conspiring to manipulate the Libor benchmark interest rate, becoming the fourth major bank to settle.The preliminary accord with “over-the-counter” investors that transacted directly with banks on a panel to determine Libor, or the London Interban...Read More
SHANGHAI, Mar 30 (SMM) – Operating rates at wire and cable companies rebounded in March from February, driven by higher rates at large plants, SMM found. Orders grew and downstream consumers purchased actively, prompted by the recent low copper prices. Resumption of orders across large producers of wire and cable also improved from last year, as output surged. Meanwhile, State Grid Corp...Read More
* Little demand for USD/JPY post-Tokyo fix, fix last for current fiscalyear.* Japanese importer demand not as large as thought, US yields heavy too.* Nikkei initially up following Wall St rally o/n but upside limited so far.* Tokyo sees USD/JPY marginally off from 106.53 early to 106.25.* Smattering of option expirations nearby but nothing major.* Some players already starting to hunker down for l...Read More
SHANGHAI, Mar 30 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index stood above 90, buoyed by month-end capital flows.Most SHFE metals registered gains following China’s announcement of corporate tax cuts, with nickel and tin rising over 1%. SHFE copper inched up. LME nickel sharply jumped close to 3%, tin edged up...Read More
* Cable from 1.4096 to 1.4011 yesterday on term-end flows* Downside somewhat limited on better-than-eyed c/a deficit, M&A flows.* Japan's Takeda eyeing Ireland's Shire listed in London, CME-NEX deal.* Techs bearish however, test of ascending 55-DMA soon? At 1.3979 today.* Countdown to Brexit, some negative news inevitable? BoE hawkish?* Market likely contained in Tokyo however, Good Friday hol...Read More
SHANGHAI, Mar 30 (SMM) –Copper: Copper prices rebounded as concerns of a trade war cooled. LME copper stood above the five-day moving average and tested the 10-day moving average, with its KDJ indicator extending upwards. SHFE copper performed similarly, and stablised at a low level with strong pressure. As the LME is closed today, we expect the SHFE 1805 contract to trad...Read More
BEIJING, March 31 (Reuters) - Growth in China'smanufacturing sector picked up more than expected in March asauthorities lifted winter pollution restrictions and steel millscranked up production as construction activity swings back intohigh gear.The official Purchasing Managers' Index (PMI) released onSaturday rose to 51.5 in March, from 50.3 in February, andremained well above the 50-point mark th...Read More
(Repeats to attach to alerts)BEIJING, March 31 (Reuters) - Growth in China's servicesindustry picked up in March, an official survey showed onSaturday, reinforcing views that the world's second-largesteconomy got off to a surprisingly strong start to the year.The official non-manufacturing Purchasing Managers' Index(PMI) rose to 54.6 from 54.4 in February, which was a four-monthlow.The services se...Read More
(Kitco News) - A gold rally is in the cards for April, said Bloomberg Intelligence commodity strategist Mike McGlone, adding that not much can get in the way of that happening.“Something unusual would have to occur for gold's primary drivers to prevent the next leg of a price rally,” McGlone said in a note published on Thursday. “The Fed's March rate hike gave increasingly compre...Read More
SHANGHAI, Mar 30 (SMM) – Nonferrous metals futures rose for the most part except for aluminium during the afternoon trading session on Friday March 30. SHFE tin was up over 2.6%, nickel was up above 2%, copper gained over 1%, lead grew nearly 1%, and zinc inched up some 0.6%.Ferrous metals rose across the board with coking coal up close to 6%. Rebar gained over 4%, hot-rolled coil and coke w...Read More
BEIJING, March 31 (Reuters) - Growth in China's servicesindustry picked up in March, an official survey showed onSaturday, reinforcing views that the world's second-largesteconomy got off to a surprisingly strong start to the year.The official non-manufacturing Purchasing Managers' Index(PMI) rose to 54.6 from 54.4 in February, which was a four-monthlow.The services sector accounts for over half o...Read More
SHANGHAI, Mar 30 (SMM) – Nonferrous metals futures rose for the most part except for aluminium during the afternoon trading session on Friday March 30. SHFE tin was up over 2.6%, nickel was up above 2%, copper gained over 1%, lead grew nearly 1%, and zinc inched up some 0.6%.Ferrous metals rose across the board with coking coal up close to 6%. Rebar gained over 4%, hot-rolled coil and coke w...Read More
SHANGHAI, Mar 30 (SMM) – Nonferrous metals futures rose for the most part except for aluminium during the afternoon trading session on Friday March 30. SHFE tin was up over 2.6%, nickel was up above 2%, copper gained over 1%, lead grew nearly 1%, and zinc inched up some 0.6%.Ferrous metals rose across the board with coking coal up close to 6%. Rebar gained over 4%, hot-rolled coil and coke w...Read More
It might have been a fore-shortened trading week ahead of the Easter break but there was still an egg-load of corporate news released as the first-quarter came to a close, with some even provoking good gains.Among the highlights, Instem Plc (LON:INS), a technology provider to the drugs industry, shot 25% higher to 233p after it announced a significant contract extension from a company using its SE...Read More