Metal Bulletin proposes to launch a weekly domestic transaction price assessment for 2mm grade 304 cold rolled stainless sheet delivered in Northern Europe. Metal Bulletin understands from preliminary market engagement that the assessment of an overall transaction price would be a complementary addition to Metal Bulletin's existing pricing coverage of the European stainless market. Subject to mark...Read More
East Asia's stainless steel prices weakened over the past week amid persistently low demand and nickel losses.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,200-2,300 per tonne cif East Asian ports for the week ended Wednesday July 4, widening downward by $40 per tonne from the previous week.Metal Bulletin's assessment of prices for benchmark...Read More
In his final column for Metal Bulletin, Lord Copper looks over the events that have shaped the metals industry during his tenure and considers and what might be in store over the coming years.ValeteWell, it's been a good run since December 2009 but now has come the parting of the ways. This is the last time Lord Copper will grace the pages - or, rather, the pixels - of Metal Bulletin. Looking back...Read More
In his final column for Metal Bulletin, Lord Copper looks over the events that have shaped the metals industry during his tenure and considers and what might be in store over the coming years.ValeteWell, it's been a good run since December 2009 but now has come the parting of the ways. This is the last time Lord Copper will grace the pages - or, rather, the pixels - of Metal Bulletin. Looking back...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our market professional survey.Readers can al...Read More
* Euro/dollar stays in tight range in light trading* U.S. public holiday keeps some traders on sidelines* Yuan bounces off 11-month low after Tuesday’s PBOC comments* Graphic: World FX rates in 2018 tmsnrt.rs/2egbfVhBy Tommy WilkesLONDON, July 4 (Reuters) - The euro fell on Wednesday as weaker confidence in the euro zone overshadowed better-than-expected data on business activity, while con...Read More
LONDON (Reuters) - The pound rose on Wednesday after a survey showing Britain’s dominant services industry gained momentum last month fuelled expectations of a Bank of England interest rate rise this summer.After a sluggish start to 2018, the British economy is showing tentative signs of a recovery with surveys this week for the manufacturing, construction and services sectors beating expect...Read More
CALGARY/LONDON (Reuters) - Brent oil rose on Wednesday, driven higher by a threat from an Iranian commander and a drop in U.S. crude inventories for the second week in a row.The price rose above $78 a barrel after an Iranian Revolutionary Guards commander said he was ready to prevent regional crude exports if Iranian oil sales were banned by the United States.The most-active Brent LCOc1 futures co...Read More
NEW YORK/HONG KONG (Reuters) - China’s embattled ZTE Corp (0763.HK) has received a temporary reprieve from the U.S. government to conduct business needed to maintain existing networks and equipment as it works toward the lifting of a U.S. supplier ban.ZTE (000063.SZ), which makes smartphones and networking gear, was forced to cease major operations in April after the United States slapped it...Read More
The impact of America’s historic tax cuts passed in December will be felt in the second quarter, according to economists from CIBC World Markets. The bank expects U.S. second quarter growth to exceed 4%. “While the remainder of the year won’t look as hot, expected strength in business capital spending will be enough to propel 2018 just under 3% growth,” the analysts say. Ho...Read More
(Kitco News) - Rising inflation fears could be the reason why gold is not doing better with the U.S. and China on the brink of a full-fledged trade war, according to the chief economist at CME Group.Although U.S. investors have a small reprieve from trade-war talks as markets are closed in celebration of Independence Day, many are waiting to see what will happen after the holiday. Friday is the U....Read More
The latest news and price moves to start the Asian day on Wednesday July 4.Zinc prices on the London Metal Exchange struggled at the close of trading on Tuesday July 3, falling by 1.1% during the afternoon and dipping below $2,800 per tonne for the first time since August 2017 amid broadly bearish trading conditions. Read more in our live futures report.Here are how prices looked at the close of t...Read More
The latest news and price moves to start the Asian day on Wednesday July 4.Zinc prices on the London Metal Exchange struggled at the close of trading on Tuesday July 3, falling by 1.1% during the afternoon and dipping below $2,800 per tonne for the first time since August 2017 amid broadly bearish trading conditions. Read more in our live futures report.Here are how prices looked at the close of t...Read More
Zinc prices on the London Metal Exchange fell by more than 3% at the close of trading on Wednesday July 4, with the absence of US trading expediting a broad downtick in metals prices. The continuation of growing trade concerns has facilitated market inactivity, and in turn, a broad decline in the complex, while a pullback in global equity markets and a fall in the Chinese yuan has added to bearish...Read More
Jonathan Berchole has joined BNP Paribas to develop a physical metals trading book and help expand the bank's existing financing business, Metal Bulletin learned on Wednesday July 4. Berchole joined the bank in London this month as head of physical trading, having left Mercuria Energy...Read More
New Century Resources has cut its third-quarter forecast for the Century Mine zinc tailing project in Queensland, Australia, but said it remains on track for first production in August. At an investor roadshow the company said the expected output for August to September 2018 was now 4,000 tonnes of zinc metal, rather than the 13,000 tonnes it forecast late last y...Read More
New Century Resources has cut its third-quarter forecast for the Century Mine zinc tailing project in Queensland, Australia, but said it remains on track for first production in August. At an investor roadshow the company said the expected output for August to September 2018 was now 4,000 tonnes of zinc metal, rather than the 13,000 tonnes it forecast late last y...Read More
Turkish steel producers have stayed away from the deep-sea scrap market, amid limited domestic and export demand for finished steel products, sources told Metal Bulletin on Wednesday July 4.Steel mills in Turkey have already finished their deep-sea bookings for July and expected to start booking for August. But it seems they are happy to wait as long as they can because of the weak finished s...Read More
New Century Resources has cut its third-quarter forecast for the Century Mine zinc tailing project in Queensland, Australia, but said it remains on track for first production in August. At an investor roadshow the company said the expected output for August to September 2018 was now 4,000 tonnes of zinc metal, rather than the 13,000 tonnes it forecast late last y...Read More
Prices for hot rolled coil (HRC) in the EU have been largely stable over the past week with buyers holding back from deals, sources told Metal Bulletin on Wednesday July 4.The market was expected to remain in wait-and-see mode until the announcement of a preliminary decision in a regional safeguard investigation.The European Commission opened an investigation into 26 steel products in late March,...Read More