Supply disruption, strong demand, multi-year prices highs and subsequent supply responses have meant for another year of price swings and volatility across many of the minors metals, ores and ferro-alloys markets. And now, with LME Week and contract negotiating season coming around again, players must contend with Trump administration tariffs on imports of a number of China produced goods, includi...Read More
Luxembourg-based metal trader Nizi International has expanded its metals raw materials business further by recruiting another new member to oversee its African affairs. Richard Hawken, formerly of South Vaal Trading, has joined Nizi to oversee the non-ferrous metals, ores and concentrates business in sub-Saharan Africa, the company chief executive officer Ulf Berg said in...Read More
In a world of razor-thin margins and fierce competition, there is unprecedented pressure to make better decisions faster. Perhaps there was a time when natural intuition, an outsized personality and clever negotiating tactics were the only strategies needed during the annual mating season. But those days are over. In today's dynamic and volatile marketplace, successful companies must be able to so...Read More
US regulators may get powers to conduct oversight and investigate price-reporting and price-setting entities in the aluminium markets if recently introduced legislation becomes law.US representatives Ken Buck (Republican-Colorado) and Jim Costa (Democrat-California) have introduced bipartisan legislation that would grant the US financial authority the Commodities Futures Trading Commission (CFTC)...Read More
Base metals on the London Metal Exchange were mostly higher at the close of trading on Friday October 5 - the three-month aluminium price ended the week up by 2.2%, reflecting the full closure at Norsk Hydro's Alunorte alumina refinery in Brazil....Read More
The London Metal Exchange would have the right to name and shame, suspend or possibly even delist brands that fail to comply with its new proposed responsible sourcing principles, according to a position paper it published on Friday October 5. The exchange is proposing that by the fourth quarter of next year, all of its brands undertake an assessment against the red flag indicators set out by the...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Friday October 5, with aluminium bucking the trend.The three-month aluminium price pushed closer toward $2,200 per tonne, it continues to be supported by tight fundamentals and low stock levels.The temporary closure of Norsk Hydro's Alunorte alumina refinery in Brazil caused the LME price to rally over 4% e...Read More
* Analysts stunned, expect at least 50 bps more rate hikes* Rupee loses as much as 0.88 pct to fall to record 74.23/dlr* RBI cuts June 2019 inflation projection, retains growth estimate (Updates to add details, quotes)By Swati Bhat and Suvashree ChoudhuryMUMBAI, Oct 5 (Reuters) - The Reserve Bank of India held interest rates unchanged on Friday, condemning the rupee to a record low and surprising...Read More
China's month-on-month new electric vehicles (NEV) sales rebounded in August after month-on-month declines in June and July. The drop in sales between May and June was the first drop since September 2016, but Fastmarkets MB had expected Chinese NEV sales to dip temporarily after the June subsidy changes came into effect because consumers and NEV manufacturers would have to adjust to the new subsid...Read More
* Oil notches weekly gain after hitting 4-year highs* Jefferies bank warns of record low spare capacity* U.S. drillers cut rigs for third week in a row -Baker Hughes (Adds CFTC data, commentary, paragraphs 9-13)By Stephanie KellyNEW YORK, Oct 5 (Reuters) - Crude futures steadied on Friday after climbing to four-year highs earlier this week, and both Brent and U.S. crude marked weekly gains ahead o...Read More
(Repeats with no changes. John Kemp is a Reuters market analyst. The views expressed are his own)By John KempLONDON, Oct 4 (Reuters) - Crude oil prices continue to climb despite attempts by oil producers to reassure the market about availability and the existence of enough spare capacity to offset oil lost as a result of U.S. sanctions on Iran.Recent price moves bear a strong resemblance to previo...Read More
Investing.com - Gold prices rose on Friday as the greenback pared back earlier gains after September’s payroll numbers came in lower than expected.Comex gold futures for December delivery rose 0.52% to $1,207.80 a troy ounce as of 10:20 AM ET (14:20 GMT),.The U.S. economy created fewer jobs than expected in September, but unemployment reached a 48-year low, indicating the economy was nearing...Read More
Global scrap prices mostly strengthened in th United States, Southeast Asia and Turkey during the working week from Monday October 1 to Friday October 5, while prices in India were still falling due to the weakening rupee....Read More
Base metals on the London Metal Exchange were mostly higher at the close of trading on Friday October 5 - the three-month aluminium price ended the week up by 2.2%, reflecting the full closure at Norsk Hydro's Alunorte alumina refinery in Brazil....Read More
The London Metal Exchange has released a position paper outlining specific requirements for its responsible sourcing initiative, with the exchange's tin contract emerging as a key focal point across its base metals products, it said in a note to members on Friday October 5. The paper is a direct result of the exchange's responsible sourcing survey, undertaken in November 2017 and conducted by all...Read More
Centar Ltd, the mining company founded by former JP Morgan mining dealmaker Ian Hannam, will sign deals with the government of Afghanistan to develop copper and gold deposits there, it said on Friday October 5. Centar will develop "potentially significant" copper and gold...Read More
Comex copper prices inched down on Friday morning in the United States despite a weaker dollar and positive jobs data. ...Read More
In a world of razor-thin margins and fierce competition, there is unprecedented pressure to make better decisions faster. Perhaps there was a time when natural intuition, an outsized personality and clever negotiating tactics were the only strategies needed during the annual mating season. But those days are over. In today's dynamic and volatile marketplace, successful companies must be able to so...Read More
Luxembourg-based metal trader Nizi International has expanded its metals raw materials business further by recruiting another new member to oversee its African affairs. Richard Hawken, formerly of South Vaal Trading, has joined Nizi to oversee the non-ferrous metals, ores and concentrates business in sub-Saharan Africa, the company chief executive officer Ulf Berg said in...Read More
The London Metal Exchange would have the right to name and shame, suspend or possibly even delist brands that fail to comply with its new proposed responsible sourcing principles, according to a position paper it published on Friday October 5. The exchange is proposing that by the fourth quarter of next year, all of its brands undertake an assessment against the red flag indicators set out by the...Read More