The Tuesday Market Minute Global stocks steady as trade war goes quiet during overnight session.Mixed messages on trade from the White House keep dollar assets on the back foot.Asia shares mixed, but gains only modest as investors wait for next round of tit-for-tat tariffs.China's Shanghai Composite slumps into bear market territory as stocks hit a two-year low.Oil markets little changed as...Read More
The latest news and price moves to start the Asian day on Wednesday June 27.Base metals prices on the London Metal Exchange rebounded in late trading after ending mostly lower at the 5 pm close on Tuesday June 26, weakened by volatile trade relations between the United States and other major economies. Read more in our live futures report.Here are how prices looked at the close of t...Read More
SHANGHAI, Jun 27 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index, which measures the greenback against a basket of six currencies, was up 0.4% at 94.66 on Tuesday.Most base metals rebounded overnight. LME aluminium surged over 2%, copper, lead, zinc and nickel edged up slightly while tin dipped. SHFE metals rose acros...Read More
SHANGHAI, Jun 27 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index, which measures the greenback against a basket of six currencies, was up 0.4% at 94.66 on Tuesday.Most base metals rebounded overnight. LME aluminium surged over 2%, copper, lead, zinc and nickel edged up slightly while tin dipped. SHFE metals rose acros...Read More
* European shares steady after China enters bear territory* Tech shares retreat broadly on latest US-China row* Dollar finds some traction as US yields start to rise* Metals knocked back in latest trade storms* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Marc JonesLONDON, June 26 (Reuters) - Gains on Wall Street and Europe's main stock exchanges relieved nervy investors on Tuesday,...Read More
* European shares steady after China enters bear territory* Tech shares retreat broadly on latest US-China row* Dollar finds some traction as US yields start to rise* Metals knocked back in latest trade storms* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Marc JonesLONDON, June 26 (Reuters) - Modest gains from Europe's main bourses relieved nervy investors on Tuesday, after the lates...Read More
(Adds analyst comment, updates prices throughout)* White House officials send mixed messages on trade policy* Yen two-week high vs dollar on risk aversion* Chinese yuan hits lowest in six months* Commodity currencies softer as oil rally halts and copper sagsBy Tomo UetakeTOKYO, June 26 (Reuters) - The dollar slipped against the yen in Asian trade on Tuesday, hovering near a two-week low, as worrie...Read More
* MSCI Asia-Pacific index down 0.27 pct, Nikkei sheds 0.1 pct* Spreadbetters expect European stocks to open slightly higher* Tech shares retreat broadly on latest US-China row* Dollar sags as US yields decline amid risk aversion* Libyan export woes lift oil after previous day's big fallBy Shinichi SaoshiroTOKYO, June 26 (Reuters) - World stocks extended a sell-off on Tuesday as escalating trade tu...Read More
* MSCI Asia-Pacific index down 0.35 pct, Nikkei sheds 0.2 pct* Tech shares retreat broadly on latest US-China row* Dollar sags as US yields decline amid risk aversion* Libyan export woes lift oil after previous day's big fallBy Shinichi SaoshiroTOKYO, June 26 (Reuters) - World stocks extended a sell-off on Tuesday as an escalating trade fight between the United States and other major economies ste...Read More
* White House officials send mixed messages on trade policy* Dollar near 2-week low vs yen on risk aversion* Chinese yuan hits lowest in six months* Commodity currencies softer as oil rally halts and copper sagsBy Tomo UetakeTOKYO, June 26 (Reuters) - The dollar slipped against the yen in Asian trade on Tuesday, hovering near a two-week low, as worries about an intensifying fight between the Unite...Read More
* MSCI Asia-Pacific index down 0.75 pct, Nikkei sheds 0.5 pct* Dollar sags as US yields decline amid risk aversion* Libyan export woes lift oil after previous day's big fallBy Shinichi SaoshiroTOKYO, June 26 (Reuters) - Global stocks extended a sell-off on Tuesday as an escalating trade fight between the United States and other major economies steered investors away from riskier assets, lifting sa...Read More
The latest news and price moves to start the Asian day on Wednesday June 27.Base metals prices on the London Metal Exchange rebounded in late trading after ending mostly lower at the 5 pm close on Tuesday June 26, weakened by volatile trade relations between the United States and other major economies. Read more in our live futures report.Here are how prices looked at the close of t...Read More
Back in late May, I'd discussed why June would likely be a significant month for gold prices going forward. The spot price of gold was hovering around the $1,300 mark in the last week of May; it has since plunged nearly $50 month over month. A number of factors have contributed to its drop.Geopolitical breakthroughs made in JuneThe media salivated over the prospects of the North Korea-United State...Read More
Talking about a stock market crash is possibly the biggest taboo in investing circles - especially if it looks as though it might actually happen.But it has to be said: things are looking shaky. The TSX index fell more than 200 points at the start of the week, with only utility stocks keeping the side up, while stock markets everywhere wobbled on news of further protectionist developments. Comment...Read More
Base metals on the London Metal Exchange ended mostly higher at the close of trading on Wednesday June 27, with nickel and zinc prices making a slight recovery from recent lulls while copper and tin prices continue to drift. Falling 0.3% over the afternoon, copper's three-month price closed at a three-month low, ending below $6,700 per tonne for the first time since March 28. The red metal ha...Read More
A lingering LME backwardation added further downward pressure to Shanghai and Taiwan zinc premiums in the latest pricing session on Tuesday June 26. Backwardation in LME zinc's cash/three-month spread widened to $47.25 per tonne on Wednesday. US rates were unchanged, but the logistics and freight market were characterized as nightmarish. Lead demand remains strong in Asia, particularl...Read More
Comex copper prices were once again facing a bout of selling with a stronger dollar and the persistent threat of additional tariffs weighing on the red metal. Copper for September settlement on the Comex division of the New York Mercantile Exchange dipped 1.50 cents or 0.5% to $2.9770 per lb. The With trade tensions mounting, commodities continue to face pressure from macroeconomic instability, ty...Read More
The recent rally in silico-manganese futures prices on China's Zhengzhou Commodities Exchange (ZCE) can largely be attributed to an impending shortage of the alloy in the country, market participants told Metal Bulletin.Silico-manganese futures prices on the ZCE have undergone a steep rally recently, with the exchange's most-traded July silico-manganese contract reaching of 8,126 yuan ($1,251) per...Read More
South African manganese miner Tshipi has been exceeding its production targets and ensuring it has adequate stockpiles to take advantage of high manganese ore prices.Metal Bulletin's 37% manganese ore index, fob Port Elizabeth stood at $5.74 per dry metric tonne unit (dmtu) on Friday June 22, up 42.4% from $4.03 per dmtu a year ago. Tshipi is targeting manganese ore production of 3.3 million tonne...Read More
China's crude stainless steel capacity is expected to increase by 7.5 million tonnes per year to 44-45 million tpy by 2020, although there is some pessimism about mills' utilization rates, according to Zhang Zhifang, chairman of Chinese producer Taiyuan Iron & Steel. Production capacity of cold-rolled stainless steel in particular will increase in the short term, Zhang pointed out during his prese...Read More