* Move comes after RBI's data localisation directive* WhatsApp has been testing payments in India* Visa (NYSE:V), Google (NASDAQ:GOOGL), PayPal, others seek extension of RBI deadline -source (Updates to add context, detail)By Sankalp Phartiyal and Aditi ShahMUMBAI/NEW DELHI, Oct 9 (Reuters) - WhatsApp has built a system to store payment-related data in India, in line with a central bank directive...Read More
* BSE, NSE indexes end nearly 0.5 pct lower* Tata Motors plunges 13 pctOct 9 (Reuters) - Indian shares ended lower on Tuesday at their lowest closing level since April, with market heavyweight Tata Motors Ltd TAMO.NS dragging down the indexes amid weak global cues.The benchmark BSE index .BSESN closed down 0.51 percent at 34,299.47. The broader NSE index .NSEI ended 0.45 percent lower at 10,301....Read More
* European and Chinese stocks manage modest bounce* Beijing allows yuan to slip past 6.90 per dollar* US benchmark yields make fresh 7-year top, underpin dollar* Yen up on safety bid as risk appetite sours* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* Asian stock markets https://tmsnrt.rs/2zpUAr4*By Marc JonesLONDON, Oct 9 (Reuters) - European stocks were sucked back into the red on T...Read More
* European and Chinese stocks manage modest bounce* Beijing allows yuan to slip past 6.90 per dollar* US benchmark yields make fresh 7-year top, underpin dollar* Yen up on safety bid as risk appetite sours* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* Asian stock markets https://tmsnrt.rs/2zpUAr4*By Marc JonesLONDON, Oct 9 (Reuters) - Europe battled to fend off a four-day losing strea...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia have been mostly stable over the past week, with demand being weak and buyers expecting prices to fall, sources told Fastmarkets on Tuesday October 9.Few deals were heard during the week.UAEHot-rolled coil (HRC) was offered to the UAE at $580-590 per tonne cfr from China."Demand is very, very weak - there is no will to buy. Pric...Read More
The Turkish deep-sea scrap market was quiet on Tuesday October 9, with suppliers holding their offer prices steady, according to market participants.There were rumors of a European cargo being sold at $321 per tonne cfr for HMS 1&2 (80:20) and bonus at $331 or $336 per tonne. But market particpants believed that this deal had been done last week although it has only now been heard in the market.Su...Read More
A memorial to former London Metal Exchange chairman Lord Raj Bagri, CBE, has been unveiled at the exchange in the presence of his family, industry peers and friends.A portrait of Lord Bagri etched into a copper cathode now hangs in the mezzanine gallery of the LME, overlooking the open outcry trading floor, after a ceremony during this year's LME Week in London.Lord Bagri's link to the trading flo...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday 09*Copper -$75.96 (-527.03 yuan) Aluminium -$451.3 (-3,131.18 yuan) Zinc $6.6 (45.78 yuan) Nickel $295.37 (2049.29 yuan) *Fastmarkets MB calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Major annual copper premium increases are coming as a result of booming demand for refined metal, Aurubis chief executive J? 1/4 rgen Schachler told Fastmarkets. Refined copper demand, driven by a global shift to increased electric connectivity is maintaining growth while higher environmental regulations pile pressure on smelter supply, he said in an interview during LME Week in London. "We see mu...Read More
The prices of base metals on the London Metal Exchange were mostly higher during morning trading on Tuesday October 9, defying a sharp uptick in the US dollar index while high oil prices put pressure on global economies.Climbing 2.6% over the morning, the three-month zinc price reached an intraday high of $2,698 per tonne while volumes traded were high at 5,715 lots as of 11am London time. To...Read More
The latest metal markets news and price moves to start the North American day on Tuesday October 9.Base metals prices on the Shanghai Futures Exchange were mostly higher during Asian morning trading on Tuesday October 9, with investor appetite bolstered by a weaker US dollar.Falling from a peak of 95.95 at 20:42 pm Shanghai time last night, the US dollar sat at 95.78 as at 9.57am Shanghai time,...Read More
If Brexit - the departure of the United Kingdom from the European Union on March 29, 2019 - isn't on your radar, it should be. With the annual London Metal Exchange Week now in full swing, the exchange, its members and their customers need to have contingency plans in place if they are expecting to be affected in any way by Brexit. And as with anything political, an element of brinkmanship will na...Read More
The latest news and price moves to start the Asian day on Wednesday October 10.Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Tuesday October 9, supported by a marginal downturn in the dollar index, with nickel prices rocketing by more than 3%. Read more in our live futures report.Here are how prices looked at the close of trading:If Brexi...Read More
Fastmarkets has discontinued its weekly price assessment for Algeria rebar imports, expressed in ?,? per tonne cfr. There will be no price assessment on October 10.After a consultation period, Fastmarkets has decided to cease assessing prices for this market. Rebar import volumes into Algeria have been decreasing rapidly since 2016, when the country's government introduced import quotas.That decis...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDGHot-rolled coilIndia, export, hot-rolled coil, offered at $600 per tonne cfr, to Saudi Arabia.China, export, hot-rolled coil, offered at $580-590 per...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transactions: billetBilletCIS, export, billet, offered at $510-515 per...Read More
Low-grade manganese ore prices rose again on Friday October 5 on higher offers, while the high-grade market paused. Low-grade manganese ore indices rise, high-grade pauses Chinese markets quiet on National Day holiday Indian alloy prices hold European alloy prices stable US alloys soften on continued low demand Trades indicated low-grade manganese ore prices edged up in Ch...Read More
The European standard grade ferro-silicon spot price was stable for the second consecutive week on Friday October 5 after suppliers held their offer prices following a few weeks of steady falls; US prices stabilized while the Chinese ferro-silicon price was rolled over due to the National Day holiday. Europe market extends stability after run of losses Chinese market unchanged on inactivity&n...Read More
Ferro-chrome spot prices dropped in Europe amid weaker demand and a lower benchmark for the fourth quarter. European ferro-chrome price drops after lower benchmark announced Ore and alloy prices stable in China Alloy prices hold in Japan, South Korea US spot price under pressure from European benchmark settlement The European spot high carbon ferro-chrome price dropped for the four...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Tuesday October 9.Base metals prices on the Shanghai Futures Exchange were mostly higher during Asian morning trading on Tuesday October 9, with investor appetite bolstered by a weaker US dollar.Check Fastmarket MB's live futures report here. The European ammonium paratungstate market (AP...Read More