Nov 16 (Reuters) - The chief executive officer of Indian online fashion retailer Myntra, Ananth Narayanan, has decided to resign, days after the co-founder and group chief executive of its parent Flipkart stepped down, the Times of India reported on Friday.Bengaluru-based Myntra, which was bought by e-commerce group Flipkart in 2014, could also see a job cut of up to 500 people, the paper reported...Read More

* NSE, BSE end about 0.6 pct higher* Reliance top boost* Yes Bank falls 7.2 pctNov 16 (Reuters) - Indian shares posted their best close in more than six weeks on Friday, powered by gains in the country's biggest company by market value Reliance Industries Ltd RELI.NS .The broader NSE index .NSEI closed 0.62 percent higher at 10,682.2, while the benchmark BSE index .BSESN ended up 0.56 percent...Read More

Investing.com - Gold prices surged on Friday as American officials dashed hopes for an imminent solution to trade tensions between China and the U.S. and the dollar suffered from dovish comments from the Federal Reserve and a bearish call from Morgan Stanley (NYSE:MS).At 10:49 AM ET (15:49 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange jumped...Read More

NEW DELHI/SHANGHAI, Nov 16 (Reuters) - India's Vedanta Ltd VDAN.NS has been selling copper concentrate on the spot market from stockpiles at its Sterlite smelter, a company official said, after the facility was forced to stop operating earlier this year amid pollution concerns.The company is disposing of around 70,000 tonnes of copper concentrate that have been lying unused since the closure of th...Read More

(Bloomberg) -- The dollar’s bull run has ended and it’s time to sell the currency, according to Morgan Stanley.“We believe the USD has reached its peak at around current levels,” Morgan Stanley’s global head of FX strategy Hans Redeker wrote in a note. “The USD may weaken as credit spreads widen, equity prices fall, and sovereign bond yields also begin falling a...Read More

(Bloomberg) -- The dollar’s bull run has ended and it’s time to sell the currency, according to Morgan Stanley.“We believe the USD has reached its peak at around current levels,” Morgan Stanley’s global head of FX strategy Hans Redeker wrote in a note. “The USD may weaken as credit spreads widen, equity prices fall, and sovereign bond yields also begin falling a...Read More

Austenitic steel scrap prices fell further this week with the negative market factors that have developed in recent weeks remaining in place. The pressure on prices came from poor demand, decreasing nickel prices and a lack of confidence that the market will pick up early in 2019.In Europe, the price of imports of 18/8 stainless steel scrap solids was assessed at ?,?950-970 ($1,076-1,098) per tonn...Read More

Domestic prices for coated steel coil products in Turkey have moved down over the past week due to slow trading conditions, sources told Fastmarkets on Friday November 16."Demand is slow and sentiment is bearish, so the mills have had to decrease their prices," a trader...Read More

Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsAntofagasta aims to increase copper capacity by 70,000 tonnes per year via a rebuild of its Los Pelambres mine in Chile at a cost of $1.3 billion, the Chilean copper producer said.The US Beer Institute has called on the United States government to scrutinize aluminium price...Read More

Astor Management, a private company based in Switzerland, plans to pursue European copper producer Atalaya Mining in the UK Supreme Court for $18 million in so-called "uptick payments", the Swiss company said on Thursday November 15.An earlier dispute over loans and investment agreements between the companies in the years between 2000 and now was settled by the UK High Court and Court of Appeal.Th...Read More

Base metals futures on the London Metal Exchange rebounded at the close of trading on Friday November 16, led by a strong performance in the three-month lead price while a marked downturn in the US dollar index prompted follow-up buying. Trading for a time above $2,000 per tonne, the three-month lead price posted significant gains amid total LME lead stocks and remained at its lowest level since 2...Read More

Chile's Copper Commission, or Cochilco, has lowered its copper price estimates for 2018 and 2019, while expecting an increase in prices for 2020, the state-run board said on Thursday November 15.In its quarterly report on the copper market, average copper prices should be $2.97 (297 cents) per lb this year, according to Cochilco, down from a previous $3 per lb forecast in July. The commission expe...Read More

An overview of the battery raw materials markets and their price moves from the past week.Read More

Fastmarkets MB presents the key things we learned when the ferro-alloys community gathered for a busy week of meetings and contract negotiations in Lisbon at the 34th International Ferro-alloys Conference on November 11-13. The global vanadium deficit will continue: Ferro-vanadium and vanadium pentoxide prices sit at or near historic highs due to significant global supply concerns, and market part...Read More

Comex copper prices hit a multi-week high in morning tradingin the United States on Friday November 16, amid improving macroeconomic fundamentals and with trade talks to be held between the US and China.The copper price for December settlement on the Comex division of the New York Mercantile Exchange rose by 2.25 cents to $2.7690 per lb on Friday. Earlier in the trading session, the contract peake...Read More

The US Beer Institute has called on the United States government to scrutinize aluminium price irregularities and distortions, referring to speculative activity to warehouse and withhold metal as being among the reasons for high premiums. James McGreevy, president and chief executive officer of the Beer Institute, noted past comments by US Secretary of Commerce Wilbur Ross that "antisocial behavio...Read More

Metal Bulletin reviews the major stories that have affected the steel market during the week ended Friday November 16.Raw MaterialsThe Singapore Exchange will launch high-grade iron ore derivatives settled against the daily MB 65% Fe Iron Ore Index published by Fastmarkets MB in the first week of December.Asia ferrous scrap prices are still falling due to weak demand from steel mills and ample sup...Read More

Cold-rolled coil and coated steel base prices declined this past week in the United States, in line with lower feedstock pricing.Fastmarkets assessed the price of domestic CRC at $45.50 per hundredweight fob Midwest mill on Thursday November 15, down by 1.1% from $46 per cwt a week earlier.Fastmarkets' assessment for the hot-dipped galvanized base price also dropped to $45.50 per cw...Read More

Domestic prices for steel coil products in Turkey were expected to move down due to limited demand, sources told Fastmarkets on Friday November 16."Demand is barely there, and there were hardly any deals done this week," a source said."There might be more activity seen next week, but most likely the mills will not be able to maintain the current level of prices," he added.Fastmarkets' weekly price...Read More

Domestic Indian prices for steel billet fell this week by at least 400 rupees ($6) per tonne, with demand for semi-finished products remaining weak on account of subdued sales of finished products such as rebar.Indian domestic secondary billets, mainly produced by the induction process, ended the week priced at 33,000-33,200 rupees ($459-462) per tonne ex-mill on Friday November 16. This was down...Read More