Comex copper prices traded at one-week high in the US morning on Monday October 22 amid hopes for added Chinese stimulus measures. The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 2.65 cents to $2.8045 per lb. The complex is broadly higher on strong macroeconomic data, especially from China. "They are receiving buoyancy from sharply rising.....Read More
The London Metal Exchange has clarified its forward-looking clearing strategy amid a raft of looming regulatory hurdles, in addition to outlining a move away from its current margin model, it told delegates at this year's LME Week.In particular, circumstances surrounding the UK's exit from the European Union could prove the most challenging obstacle for the exchange, with clearing services for all...Read More
* Beijing seeks ways to reduce its dependence on U.S. soybeans* India industry welcomes move but says process still lengthy* Rapeseed futures in India jump on the news(Adds detail, background)By Hallie Gu and Rajendra JadhavBEIJING/MUMBAI, Oct 22 (Reuters) - China has dropped a years-long ban on rapeseed meal imports from India as the government seeks to diversify sources of protein used in animal...Read More
* NSE index down 0.57 pct; BSE index 0.53 lower* Reliance Industries sinks 3.5 pctOct 22 (Reuters) - Indian shares fell for the third consecutive session on Monday, weighed down by index heavyweight Reliance Industries Ltd RELI.NS as macro concerns, including higher crude prices and liquidity crunch, hurt the trading sentiment.While the benchmark BSE index .BSESN closed down 0.53 percent at 34,1...Read More
* Saudi Arabia says to raise output to 11 million bpd* Sanctions against Iran oil exports to start Nov. 4 (Adds fresh comment, latest prices; changes byline, dateline, previous LONDON)By Scott DiSavinoNEW YORK, Oct 22 (Reuters) - Oil futures were little changed on Monday after paring earlier losses despite Saudi Arabia's pledge to raise crude production to a record high, two weeks before U.S. sanc...Read More
* FTSE 100 down 0.1 pct, mid-caps down 0.2 pct* NM Health jumps most in more than a year on earnings* Higher metals prices lift mining stocks* Lloyds lifted by report of big share buyback (Adds details, updates prices)LONDON, Oct 22 (Reuters) - Britain's blue-chip share index gave up earlier gains and slipped into negative territory on Monday in see-saw trade as lower oil prices pressured energy s...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up 0.5 pct, mid-caps up 0.2 pct* NM Health jumps more than 7 pct on earnings* Higher metals prices lift mining stocksLONDON, Oct 22 (Reuters) - Britain's blue-chip share index was higher on Monday as a weaker U.S. dollar boosted commodities companies while positive results boosted NMC Health NMC.L .The FTSE 100 .FTS...Read More
CIS export slab prices have remained unchanged over the past week despite modest demand in the major outlet markets because competition in the global marketplace has softened.One of the reasons for the reduced level of competition was that Brazilian suppliers have switched the focus of their activities back to the United States from the European, Turkish and Asian markets.Brazilian companies were...Read More
The Turkish deep-sea scrap market was quiet on Monday October 22 but bookings that came to light late on Friday have kept prices stable.Trades for two deep-sea cargoes emerged after the deadline for data submission to Fastmarkets' price assessment on Friday.These two cargoes continued the trend of Turkish mills buying European and Baltic Sea material. No deals for material from the United States h...Read More
Brazilian polymetallic producer Nexa Resources is expected to begin construction on its Aripuan?? project in the state of Mato Grosso, in Brazil's midwestern region, after the company's board of directors approved the start-up on Friday October 19.The site will produce an average of 120,000 tonnes per year of zinc equivalent volumes for 13 years. The company, whose controlling shareholder is Brazi...Read More
Metal concentrates trading house Cliveden will open an office in Singapore and bring in two new traders, the company said. The Zug, Switzerland-headquartered trading house, which rapidly expanded amid a shift in strategy in 2016, will open a Singapore office in November, the notice said. Yang...Read More
Comex copper prices traded at one-week high in the US morning on Monday October 22 amid hopes for added Chinese stimulus measures. The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 2.65 cents to $2.8045 per lb. The complex is broadly higher on strong macroeconomic data, especially from China. "They are receiving buoyancy from sharply rising.....Read More
The Chinese-owned Chambishi copper smelter in Zambia has slashed the guidance figure for its 2019 production of blister copper by more than 20%, Fastmarkets has learned.The decision was prompted by new import tariffs to be applied to copper concentrates imported from the neighboring Democratic Republic of Congo (DRC), which could raise raw material costs for producers in Zambia.Chambishi is expect...Read More
Fastmarkets' premium for ER copper cathodes in Shanghai bonded warehouses was published incorrectly on Friday October 19 due to an input error. The grade A copper cathode Shanghai bonded warehouse premium was incorrectly published as $100-116 per tonne on October 19, instead of $110-116 per tonne. Fastmarkets' price book and database have been updated to reflect this correction. If you have a...Read More
The London Metal Exchange has clarified its forward-looking clearing strategy amid a raft of looming regulatory hurdles, in addition to outlining a move away from its current margin model, it told delegates at this year's LME Week.In particular, circumstances surrounding the UK's exit from the European Union could prove the most challenging obstacle for the exchange, with clearing services for all...Read More
The latest news and price moves to start the Asian day on Tuesday October 23.Base metals prices on the London Metal Exchange were higher across the board by the close of trading on Monday October 22, with prices elevated despite a slightly weaker stock market opening in the United States and a strong US dollar index. Read more in our live futures report.Here are how prices looked at the close...Read More
Production by Brazilian steelmakers increased by 2.5% year-on-year in September 2018, while national apparent consumption rose by 3.2% in the same month, according to figures published by local steel association A??o Brasil on Friday October 19.The data showed that crude steel output was 3.03 million tonnes during the month, up from 2.96 million tonnes in the corresponding month last year. Rolled...Read More
Water levels in the Rhine and its canals system are at critically low levels, which may mean that steel - especially rebar - and other freight deliveries intending to ship on that route in the coming weeks and months may need to find other delivery options at greater cost.The hot summer earlier this year has given way to continued unseasonably warm and dry conditions - water depths along the Rhine...Read More
CIS steel billet suppliers continued to seek support in the markets of Southeast Asia in the second half of October, with customers' interest in imported billet in the Middle East-North Africa (Mena) region remaining low while the finished long steel market is subdued.Offers of CIS-origin billet varied mainly within the range of $460-470 per tonne fob Black Sea, market participants told Fastmarket...Read More
The latest metal markets news and price moves to start the North American day on Monday October 22. Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Monday October 22, buoyed by a sharp uptick in Chinese stock markets, while a sizeable fresh cancelation in LME aluminium stock provided upward momentum for the light metal.Appreciating by just...Read More