BEIJING, Jan 8 (Reuters) - As China tightens restrictions on imports of foreign waste, Chinese metal recyclers and even smelters like Jiangxi Copper Co are increasingly looking to use Southeast Asian countries as an alternative location for the processing of copper scrap.China relies on imports for around half of its scrap copper needs but told the World Trade Organization last year that it would...Read More
* Microsoft halts some AMD chip Meltdown patches after PCs freeze* Target joins retailers that recorded strong holiday sales* Oil hits highest since May 2015 above $68 on tighter market* Futures up: Dow 60 pts, S&P 3.5 pts, Nasdaq 0.19 pts (Adds comment, details on companies, updates prices)By Sruthi ShankarJan 9 (Reuters) - The S&P 500 and the Dow were on track for a record open on Tuesda...Read More
The Republican-controlled Federal Energy Regulatory Commission or FERC unexpectedly and unanimously rejected Energy Secretary Rick Perry's plan to boost nuclear plants and slow down the closure of coal-powered plants.According to Perry, the US' power grid would become vulnerable if more coal-fired power plants were to close down, a common occurrence in past years as the rise of natural gas and ren...Read More
By Natalia Zinets and AlessandraPrenticeKIEV, Jan 9 (Reuters) - A Dutch court has issued a provisional order to freeze the Netherlands-based companies of the flagship business group owned by Ukraine's richest man in connection with a long-running $820 million lawsuit.Systems Capital Management (SCM) is owned by Rinat Akhmetov, who has amassed a multi-billion dollar fortune through his conglomerate...Read More
MOSCOW, Jan 9 (Reuters) - Russia's Finance Ministry said on Tuesday it would offer 40 billion roubles ($701.2 million) worth of OFZ treasury bonds at two auctions on Wednesday.The ministry said it would offer 20 billion roubles of OFZs maturing in 2021 and 20 billion roubles of OFZs maturing in 2028 .($1 = 57.0420 roubles) (Reporting by Yelena Orekhova; Writing by Jack Stubbs; Editing by Vladimir...Read More
SHANGHAI, Jan 9 (SMM)? 1/4 ?Cooper: While LME copper sees temporary support at $7,100/mt, the SHFE copper is expected to trade downwards to 54,000 yuan/mt. However, the implementation of copper scrap policy and the expected supply tightness of concentrate would limit the down side. LME copper is expected to trade at $7,090-7,150/mt today and the SHFE 1803 contract is to trade at 54,300-54,900 yuan...Read More
(Adds detail from report)By Andrea HopkinsOTTAWA, Jan 9 (Reuters) - Canadian housing starts fell in December, as expected, as a sharp decline in multiple unit urban starts outweighed a rise in single-detached starts, data from the Canada Mortgage and Housing Corporation showed on Tuesday.December's decline bucked a strong year for homebuilding, with total urban starts up 6.2 percent from 2016 as...Read More
The CME's new copper cif Shanghai futures contract could significantly change the way copper consumers make their purchase decisions by allowing them to hedge against exposure, Lord Copper muses. A long time ago, when the world was (to our eyes) a much simpler place, copper producers who sold their metal on the basis of the LME price decided that they should include with that price a premium which...Read More
OTTAWA, Jan 9 (Reuters) - Canadian housing starts fell in December, as expected, as a sharp decline in multiple unit urban starts outweighed a rise in single-detached starts, data from the Canada Mortgage and Housing Corporation showed on Tuesday.The seasonally adjusted annual rate of starts declined to216,980 in December from November's downwardly revised 251,675. Economists had expected a declin...Read More
* Yen rises after Bank of Japan trims JGB purchases* Crude oil futures rise to highest since May 2015* Samsung's guidance disappoints, weighing on tech sector* Nikkei probes highest levels since November 1991* Europe helps world stocks extend flying start to year* Graphic: World FX rates in 2018 By Marc JonesLONDON, Jan 9 (Reuters) - A tweak to the Bank of Japan's bond-buying programme shunted the...Read More
JOHANNESBURG, Jan 9 (Reuters) - South Africa's new vehicle sales fell 2.4 percent year-on-year to 40,636 units in December, data from the trade and industry department showed on Tuesday.Exports however fell 7.1 percent to 17,374 units compared with the same month a year earlier, the department said. (Reporting by Mfuneko Toyana; Editing by Ed Stoddard) Disclaimer: The views expressed in this art...Read More
RAPAPORT... The Gem & Jewellery Export Promotion Council (GJEPC) hasrecruited Ruchita Sharma as executive director for promotions, marketing andbusiness development, the Indian trade organization said Tuesday.Sharma, an experienced luxury marketer and executive, willalso be responsible for national and international events, logistics andinternational ventures, the GJEPC added. She has been in...Read More
By Renita D. YoungNEW YORK, Jan 9 (Reuters) - European gold-backed exchange-traded funds added more than double the amount of tonnes that North American ones did in 2017, growing their assets by 13.9 percent, the World Gold Council said on Tuesday.Though North America contained more than half the amount of global exchange-traded fund holdings, European funds added the most to their gold-backed ETF...Read More
* Futures up: Dow 44 pts, S&P 1.25 pts, Nasdaq 6 pts By Sruthi ShankarJan 9 (Reuters) - U.S. stock futures edged higher on Tuesday, keeping alive Wall Street's 2018 winning streak that is powered by robust economic data and expectations of earnings boost from corporate tax cuts.Asian and European markets rose to a record high, buoyed by an upbeat industrial production data from Germany and ga...Read More
RAPAPORT... G? 1/4 belin Gem Lab has partnered with developer Everledger to establish a blockchain digital ledger for colored gemstones. The Provenance Proof Blockchain tracks gemstones throughout theirlifespan until they reach the end consumer, the Swiss-based lab said Tuesday. G? 1/4 belin plans to implement itssystem across all segments along the supply chain, including miners,dealers, cut...Read More
RAPAPORT... Stuller has acquired laser-welder and engraving companyB&D Sales Corporation, the Louisiana-based jewelry manufacturerannounced Monday. Partnering with B&D will allow Stuller to expand itsproduct line, broaden its equipment services, and meet clients' changing needs,according to Danny Clark, Stuller's president. "We are thrilled to be adding additional equipment andservice opti...Read More
(IDEX Online) - Debbie Azar, co-founder of Gemological Science International (GSI), took to the radio waves recently, participating in interviews on "The Ultimate Gift of Love: Diamonds - What to Know Before Making Those Sparkling Holiday Purchases", the GSI said. Azar reached approximately 7.7 million listeners and appeared on 286 radio broadcast airings (some live, some syndicated) across...Read More
(Updates with stock index moves)MOSCOW, Jan 9 (Reuters) - Russian stocks hit their highest since mid-2014 on Tuesday as investors returned to work after the holiday break and the price of oil, the country's main export, remained high. At 1220 GMT, Russia's dollar-denominated RTS index was up 1.27 percent to 1,235.38 points, having reached 1,238.26 earlier in the session, its highest since Septemb...Read More
RAPAPORT... The Gemological Institute of America (GIA) will this year opena laboratory in Surat, and expand its operations in Antwerp to include diamondgrading.The GIA has secured premises for the two locations, and expects to open both in the second quarter, it saidMonday. The Surat laboratory will bring the GIA's services -including its Melee Analysis Service for detecting synthetics - closer to...Read More