U.S. equity index futures were higher this morning. S&P futures were up 4 points in pre-opening trade. Traders are waiting for news from the FOMC at 2:00 PM EDT. Consensus is calling for a 0.25% increase in the Fed Fund rate. Nike (NKE $84.79) is expected to open lower despite reporting strong fiscal first quarter results.KB Homes added $1.55 to $26.84 after reporting higher than consensus fis...Read More
Key data from the Wednesday September 26 pricing session in Europe. ...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Wednesday September 26.Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Wednesday, with many investors taking to the sidelines ahead of the US Federal Open Market Committee meeting later.Movements in the SHFE base metals were fairly limited but pri...Read More
Turkish steel producers hae continued to book deep-sea scrap cargoes from the Baltic Sea region on Wednesday September 26....Read More
Physical iron ore trading picked up significantly on Wednesday September 26, especially at Chinese ports, with buyers preparing cargoes for the coming National Day holiday week, which starts on October 1....Read More
Following a consultation, Metal Bulletin will amend its weekly Rotterdam export scrap price assessment from HMS 1&2 (70:30) to HMS 1&2 (75:25).The change has been made following observations that HMS 1&2 (70:30) is no longer exported out of Rotterdam.The new specification is as follows:Assessment: Ferrous scrap, Rotterdam, export, HMS 1&2 (75:25), $ per tonne fob RotterdamDimensions: 18x36in to 24...Read More
Prices in the seaborne coking coal spot market took another tumble on Wednesday September 26 following lower offers during the day....Read More
China's ferrous futures were mixed in the morning trading session on Wednesday September 26, with steel and coke contracts down, but iron ore and coking coal contracts up slightly. ...Read More
China's hot-rolled coil prices continued to drop on Wednesday September 26 with investors bearish on the outlook following futures losses, sources told Metal Bulletin....Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday September 26*...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
An increase in tariffs payable on US imports of Chinese cobalt metal to 25% from 2019 would shift trade flows and create regional discounts and premiums in the short term, according to market participants spoken to by Metal Bulletin. But tariffs of 10%, announced a week ago, should cause little disruption on the cobalt market, since outstanding 2018 deliveries of Chinese metal to the United States...Read More
Italian re-roller Marcegaglia has expressed an interest in acquiring Italian flat stainless steelmaker Acciai Speciali Terni (AST)....Read More
Swedish steelmaker SSAB has appointed Johnny Sj??str??m to head of its special steel division, the company said on Wednesday September 26....Read More
The following Metal Bulletin UK non-ferrous scrap and foundry ingot prices changed on Wednesday September 26:...Read More
As traders await the conclusion of this month's FOMC meeting, they will listen intently to the monetary policy statement released at the conclusion tomorrow. Inasmuch as the market has factored in the almost certainty that the Federal Reserve will announce an interest rate hike of 25 basis points tomorrow (1/4%), it is the pace of rate hikes in the future that will garner the most significant atte...Read More
(Kitco News) - Gold prices are just slightly higher in early-afternnon U.S. trading Tuesday, while silver prices are posting decent gains and hit a three-week high. Gold and many other markets are in a holding pattern ahead of the Federal Reserve's Open Market Committee (FOMC) meeting decision Wednesday afternoon. A slightly lower U.S. dollar index today prompted some buying interest in the metals...Read More
(Kitco News) - Gold has been stuck around $1,200 an ounce for the last six weeks, but there are rising expectations of an imminent break following Wednesday's Federal Reserve monetary policy decision.Markets have already priced in a 25-basis point hike following the meeting; however, the key for the gold market will be the future trajectory of interest rate hikes, known as the dot plots and where...Read More
(Adds comments from Mexican government spokesman in paragraphs10-11) By David Lawder NEW YORK, Sept 25 (Reuters) - Canada is not makingconcessions needed to reach a deal with the United States for atrilateral NAFTA pact and is running out of time beforeWashington proceeds with a Mexico-only agreement, a top U.S.official said on Tuesday. U.S. President Donald Trump's administration recently beganin...Read More
(Kitco News) - The gold market continues to hold on to critical support above $1,200 an ounce despite U.S. consumer confidence data holding at their highest level in nearly two decades.Tuesday, the U.S. Conference Board, said that is Consumer Confidence Index increased to a reading of 138.4 in September, up from August's revised reading of 134.7 and beating expectations. According to consensus for...Read More