India's JSW Steel recorded its highest-ever quarterly crude steel output in October-December 2017, producing 4.11 million tonnes - up 7% compared with the same quarter in 2016.The October-December period is the third quarter of JSW Steel's 2017-2018 financial year, which runs to March 31, 2018. Flat steel production dropped 1% year on year to 2.82 million tonnes, while long steel production increa...Read More
* Euro gains after ECB minutes released* Dollar index weak after U.S. producer prices fall* Bitcoin slips on S.Korea plans to ban cryptocurrency trading (Updates prices and market activity to U.S. market open, changes dateline; previous LONDON)By Saqib Iqbal AhmedNEW YORK, Jan 11 (Reuters) - The euro jumped against the dollar on Thursday after the European Central Bank said it could revisit its co...Read More
China's prices for hot-rolled coil fell on Thursday January 11 amid weak procurement sentiment among downstream buyers. DomesticEastern China (Shanghai): 4,220-4,260 yuan ($648-654) per tonne, down 20 yuan per tonne Northern China (Tianjin): 4,030-4,050 yuan per tonne, down 10-20 yuan per tonneSpot prices dipped following a softening of HRC futures during the day, according to market participants....Read More
(Adds detail, gives background)JOHANNESBURG, Jan 11 (Reuters) - One person was killed and part of South Africa's Royal Bafokeng Platinum's (RBPlat) conveyor belt was burnt during overnight protests at one of its shafts in the country's North West Province, the platinum producer said on Thursday.Social and labour violence, soaring costs and depressed world platinum prices have hurt South Africa's...Read More
(Kitco News)- Gold prices are holding on to modest gains as producer inflationpressures in the U.S. came in below expectations in the final month of 2017Producer Price Index (PPI) fell 0.1% in December, followingan increase of 0.4% in November, the U.S. Labor Department said on Thursday.According to consensus forecasts, economists were expecting to an increase of0.2%.Despite the monthly decrease,...Read More
China's ferrous futures largely trended downward during morning trading on Thursday January 11 with the exception of the coking coal contract, which ended the session higher.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,844 ($58) per tonne, down 17 yuan per tonne May hot-rolled coil: 3,880 yuan per tonne, down 14 yuan per tonne Dalian Commodity Exchange May iron o...Read More
Editor's Note: Updating earlier story to include more details from report.(Kitco News) - Initialweekly U.S. jobless claims rose by 11,000 to a seasonally adjusted 261,000in the week to Saturday, the Labor Department said Thursday.Thiswas more than consensus forecasts compiled by various news organizations, whichcalled for initial claims to be around 245,000 to 248,000. The government left the...Read More
The latest news and price moves to start the Asian day on Friday January 12.Base metals prices on the London Metal Exchange were mostly lower at the close on Thursday January 11, with nickel prices falling 2%. Read more in our live futures report.Here are how prices looked at the end of the day on Thursday.Metal Bulletin has learned that operations at Glencore's Pasar copper smelter in I...Read More
JOHANNESBURG, Jan 11 (Reuters) - South Africa's Royal Bafokeng Platinum (RBPlat) said one person was killed and a conveyor belt was burnt during overnight protests at one of the platinum producer's shafts in the country's North West Province."An individual within the crowd was shot and killed by live ammunition. Based on preliminary evidence, including video footage, it is believed that the s...Read More
Wall Street futures held onto modest gains heading into the start of trading Thursday, while European and Asia stocks drifted lower as a rebound for bond yields failed to offset trade tensions linked to President Donald Trump's warning on NAFTA membership. Early indications from U.S. equity futures suggest modest gains for the three major benchmarks after stocks snapped a six-day winning st...Read More
Turkish domestic long steel prices have fallen in line with the weakening of the country's lira, but are expected to recover soon, sources said on Thursday January 11.Metal Bulletin's weekly price assessment for domestic rebar in Turkey was $570-572 per tonne ex-works, down from last week's $580-590 per tonne.The domestic rebar prices in the Izmir and Iskenderun regions were $570-575 per tonne ex-...Read More
* Gigaba under pressure to spark recovery, avoid downgrades* Economy emerged from recession but sill underperforming* Consumer, business confidence key to revival (Adds manufacturing figures, background)By Ed Stoddard and Mfuneko ToyanaEAST LONDON/JOHNANNESBURG, Jan 11 (Reuters) - South Africa's economy may grow 2 percent this year if the government takes needed policy decisions, Finance Minister...Read More
Click Here to Listen to the InterviewFund manager and analyst Grant Williams joins TF Metals for an update on his tremendous "Nobody Cares" presentation from late 2015. Additionally, Grant takes some time to discuss the USDJPY-gold link as well as the pending introduction of that yuan-denominated crude oil contract in Shanghai. Be sure to take some time to listen.If you haven't seen "Nobody Cares"...Read More
Turkish long steel export prices have gone up over the past week with recovering demand and rising imported scrap costs, sources said on Thursday January 11.Two Turkish mills were heard selling rebar to the United States at $575-580 per tonne fob actual weight, while a small cargo was sold to Africa at $585 per tonne.One of the US cargoes weighed 35,000 tonnes, while the other's tonnage was not cl...Read More
* Communication to shift gradually* Should consider broader policy guidance* Accounts point to early 2018 discussion* Euro jumps after accounts published (Adds detail)By Balazs KoranyiFRANKFURT, Jan 11 (Reuters) - The European Central Bank should revisit its communication stance in early 2018, accounts of its December meeting showed, suggesting that policymakers could soon start preparing markets...Read More
Dr. Marc Faber was born in Zurich, Switzerland and obtained a PhD in Economics at the University of Zurich. Between 1970 and 1978, Dr. Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In 1990, he set up his own business, Marc Faber Limited which acts as an investment advisor...Read More
Shares in Skeena Resources Limited (TSX.V:SKE) jumped 6% on Thursday after the company announced additional drill results from 13 holes at its Snip gold project located in the Golden Triangle of British Columbia.In lunchtime trade the Vancouver-based junior was exchanging hands for $0.74, up 10.4% on the TSX Venture Exchange, in more than double usual volumes. Skeena is now worth $53 million in To...Read More
CloseGain/LossGold $1321.80+$4.40Silver$16.98UNCHXAU87.04+1.13%HUI195.52+0.64%GDM653.12+0.43%JSE Gold1325.12+12.06USD91.90-0.42Euro120.32+0.75Yen90.03+0.24Oil$63.80+$0.2310-Year2.536%-0.016T-Bond150.3125+0.25Dow25574.73+0.81%Nasdaq7211.78+0.81%S&P2767.56+0.70% The Metals: Gold edged down to $1315.70 in Asia, but it then chopped up to as high as $1323.90 in New York and ended with a gain of...Read More
Max Keiser is an American broadcaster and film-maker. He hosts Keiser Report, a financial program broadcast on RT. He presents a weekly show about finance and markets on London's Resonance FM, and writes for The Huffington Post. Keiser invented "Virtual Specialist Technology," a software system used by the Hollywood Stock Exchange. Prior to inventing this technology, he worked on Wall Street where...Read More
China may slow down its U.S. debt buying. Will gold rally or plunge, then?Dragons love hoarding gold and not onlyDragons love gold. In Greek mythology, dragons were set by the gods to guard golden treasures. It makes perfect sense, since it would be rather difficult to find better guards. Everybody who watched The Hobbit series knows that this is true - the powerful Smaug hoarded a lot and was rea...Read More