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DIARY-Government Debt Auctions to Feb 28

January 10, 2018 / www.kitco.com

Jan 11 (Reuters) - For other diaries, please see:Top Economic Events Polling Unit Diary Today in Washington Political and General News DATE COUNTRY AUCTION DETAILS11-Jan United States Sale of 30-year bond11-Jan Japan 3-month discount bill auction11-Jan United KingdomAuction of 1 3/4 % Treasury Gilt 203711-Jan Italy Medium- to Long-Term auction12-Jan Japan Auction of 40-year government bonds15-Jan...Read More

Brazilian exports of steel slab, billet up in 2017

January 09, 2018 / www.metalbulletin.com

Brazilian exports of carbon steel slab and billet increased in 2017, according to the country's foreign trade ministry, MDIC.Exports of carbon steel slab reached 7.3 million tonnes in 2017, up 23.49% from the 5.91 million tonnes exported in 2016, according to the figures released late last week.The US was the largest...Read More

DIARY-Top Economic Events to Feb 27

January 10, 2018 / www.kitco.com

Jan 11 (Reuters) -For other diaries, please see:U.S. Federal Reserve Polling Unit Diary Today in Washington Political and General News -----------------------------------------------------------This Diary is filed daily.** Indicates new events ----------------------------------------------------------- THURSDAY, JANUARY 11 LONDON - Eurogroup President Jeroen Dijsselbloem speaks about the future of...Read More

UPDATE 1-Caisse boss says U.S. NAFTA pullout would lead to more talks

January 10, 2018 / www.kitco.com

(Adds comments from Caisse's Sabia)TORONTO, Jan 10 (Reuters) - Caisse de Depot et Placement du Quebec's chief executive said he believes that if U.S. President Donald Trump abandons the North American Free Trade Agreement with Canada and Mexico, the United States would then negotiate a new deal with Canada.Canada is increasingly convinced that Trump will soon announce the United States intends to...Read More

FTSE 100 closes at new high as banks bolster the premier index

January 10, 2018 / www.proactiveinvestors.co.uk

FTSE 100 closes at new highRBS gains on Morgan Stanley upgradeTaylor Wimpey shares decline after trading updateUK manufacturing data surprises to the upside FTSE 100 closed at a new record high on Wednesday, bolstered by the banking sector, and a weaker pound.The UK's top tier index closed the day over 17 points ahead at 7,748 with RBS (LON:RBS) the biggest gainer, up 4.60% to 293.40p after a...Read More

CORRECTED-Fed's Bullard says inflation miss has "cost" U.S. lost growth

January 10, 2018 / www.kitco.com

(Corrects to make clear in paragraph 5 that lost output figure is Reuters calculation based on Bullard's 4.6 percent gap comment)ST. LOUIS, Jan 10 (Reuters) - Sub-par inflation over the past five years has caused a shortfall in the United States economy versus its potential growth path, St Louis Fed President James Bullard said on Wednesday as he fleshed out a proposal for a more dynamic system o...Read More

EUROPE PLATE: Domestic prices to rise on higher production costs

January 10, 2018 / www.metalbulletin.com

Domestic prices for heavy steel plate in Europe are expected to move upward on higher costs for slab and other raw materials, sources told Metal Bulletin on Wednesday January 10.In the meantime, however, prices have been largely unchanged this week with the market still slow after Christmas holidays.Metal Bulletin's weekly price assessment for domestic grade-S235JR heavy steel plate in Southern Eu...Read More

EMERGING MARKETS-Mexican assets drop on report Trump could pull NAFTA plug

January 10, 2018 / www.kitco.com

By Bruno Federowski and Anthony EspositoSAO PAULO/MEXICO CITY, Jan 10 (Reuters) - Mexico's currency weakened against the dollar on Wednesday and stocks extended losses after Reuters reported that Canada increasingly believes that U.S. President Donald Trump will soon announce his intention to withdraw from NAFTA.Two government sources told Reuters they expected Trump to pull the plug at about the...Read More

Asian scrap demand to grow while steel exports stay low in 2018, Irepas says

January 10, 2018 / www.metalbulletin.com

Export volumes of steel products from China will stay low in 2018, which will raise demand for scrap in other Asian countries, the International Rebar Producers & Exporters Association (Irepas) said on Wednesday January 10."For the first quarter of 2018, we can expect steel exports from China to remain reduced, which will continue to drive local steel mill demand elsewhere," Irepas said."Many coun...Read More

REFILE-CANADA STOCKS-TSX falls as NAFTA worries weigh

January 10, 2018 / www.kitco.com

(Corrects to 'increasingly' from 'increasing' in first paragraph)* TSX ends down 71.29 points, or 0.44 percent, at 16,247.95* Nine of index's 10 main sectors fall TORONTO, Jan 10 (Reuters) - Canada's main stock index fell on Wednesday, with the broad retreat accelerating in afternoon trade after Reuters reported that Canada is increasingly convinced the United States will withdraw from the North...Read More

Ceres Power rallies as it signs new joint development agreement

January 10, 2018 / www.proactiveinvestors.co.uk

Ceres Power Holdings PLC (LON:CWR) shares climbed 4% to 14.95p after the solid oxide fuel cell developer announced that it signed a new joint development agreement with an undisclosed "significant" European-based original equipment manufacturer.Ceres and the new partner will work together to develop prototype multi-kilowatt power systems for several potential applications. It marks the fifth agree...Read More

SOUTHERN EUROPE REBAR: Prices move up on higher scrap costs, returning demand

January 10, 2018 / www.metalbulletin.com

Domestic prices for rebar in Southern Europe have narrowed upward over the past week, on higher scrap costs and the return of market participants from seasonal holidays, sources told Metal Bulletin on Wednesday January 10.Metal Bulletin's weekly domestic price assessment for Southern European rebar rose to ?,?520-530 ($621-633) per tonne delivered on Wednesday, from ?,?505-530 per tonne on January...Read More

Australia shares to track U.S. stocks lower; NZ slips

January 10, 2018 / www.kitco.com

Jan 11 (Reuters) - Australian shares are expected to open lower on Thursday, reflecting weak sentiment on Wall Street on worries that China would slow U.S. government bond purchases.Wall Street's major stock indexes ended lower on Wednesday after a choppy trading session as investors worried that China, the world's biggest holder of U.S. Treasuries, would slow U.S. government bond purchases. Stren...Read More

UPDATE 3-Brazil 2017 inflation tops forecasts, but misses official target

January 10, 2018 / www.kitco.com

(Adds details on open letter, central bank chief Goldfajn comments)By Bruno FederowskiSAO PAULO, Jan 10 (Reuters) - Brazil's 2017 inflation rate topped analysts' expectations but missed the official target range for the first time, setting the stage for interest rates to remain at all-time lows.The benchmark IPCA index rose 2.95 percent last year, the lowest annual rate since 1998 and below the g...Read More

How will Tesco and Marks and Spencer follow Morrison Supermarkets and J Sainsbury's when they report on Thursday?

January 10, 2018 / www.proactiveinvestors.co.uk

Keeping the food retail theme running, Thursday brings Tesco Plc (LON:TSCO) and Marks and Spencer Group Plc (LON:MKS) onto the schedule, following Morrisons, Sainsbury's and Lidl updates so far this week.Of course Marks is not just a grocer, and the trading statement will likely be in focus for investors who are trying to gauge the Christmas period for the broader retail sector.No doubt ASOS will...Read More

EUROPE CRC: Domestic producers to seek higher prices

January 10, 2018 / www.metalbulletin.com

European mills are expected to increase their domestic offer prices for cold-rolled coil (CRC), with supported from the lack of competitive import offers, sources told Metal Bulletin this week.Metal Bulletin's weekly price assessment for domestic CRC in Northern Europe was ?,?610-640 ($728-764) per tonne ex-works on Wednesday December 10, unchanged over the week.The assessment reflected "workable"...Read More

Morocco's GDP growth to slow to 2.8 percent in 2018-officials

January 10, 2018 / www.kitco.com

CASABLANCA, Morocco, Jan 10 (Reuters) - Morocco's economic growth will slow to 2.8 percent this year, down from 4 percent in 2017, officials forecast on Wednesday, blaming a decline in agricultural production.A lack of rainfall will cause farming output to fall by 1.3 percent this year after a 13.6 percent gain last year due to better weather conditions, officials told reporters.Annual inflation w...Read More

ASIAN MORNING BRIEF 11/01: Nickel rallies further on LME; technical issues drive Birla Copper to cut output at Dahej smelter in India; planned strike at Glencore's Minera Lomas Bayas copper mine in Chile called off

January 11, 2018 / www.metalbulletin.com

The latest news and price moves to start the Asian day on Thursday January 11.Nickel continued to rally on the London Metal Exchange during afternoon trading on Wednesday January 10, closing in positive territory alongside the rest of the metals. Read more here in our live futures report.Here are how prices looked at the end of the day on Wednesday.Unspecified technical issues at Birla Copper's Da...Read More

CANADA STOCKS-TSX falls as NAFTA risk weighs, gold miners buck move

January 10, 2018 / www.kitco.com

TORONTO, Jan 10 (Reuters) - Canadian railway, pipeline and other trade-sensitive stocks weighed on the country's main index on Wednesday as two government sources said Canada is increasingly convinced the United States plans to pull out of the North American Free Trade Agreement. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed down 71.29 points, or 0.44 percent, at 16,...Read More

NORTH AMERICAN MORNING BRIEF 10/01: LME base metals prices recover; seaborne iron ore prices retreat; base metals premiums wraps

January 10, 2018 / www.metalbulletin.com

The latest metal markets news and price moves to start the North American day on Wednesday January 10.Base metals prices on the London Metal Exchange were mostly higher this morning, with nickel prices continuing to outperform the rest of the complex.The main supporting factors are falling stocks, increased fees for material entering China since the beginning of the year and higher long-term contr...Read More

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