The price of shredded ferrous scrap imported into India fell this week due to reduced trading because of a festival in the country as well as continued weakness in the rupee, sources told Fastmarkets MB.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India moved down to $354.42 per tonne cfr Nhava Sheva on Friday October 19, from $358.92 per tonne cfr Nhava Sheva one...Read More
LONDON (Reuters) - British Prime Minister Theresa May told business leaders during a teleconference on Friday that EU politicians are committed to reaching an agreement this autumn, striking what one source told Reuters was an upbeat tone.London and Brussels are racing to strike a deal by the end of the year and firms are worried that without one, there could be widespread disruption of everything...Read More
OTTAWA (Reuters) - The Canadian government on Friday said Lockheed Martin Corp (LMT.N) would be given first chance to bid on a contract to design 15 warships that will end up costing Canada around C$60 billion ($46 billion).The ministries of procurement and defense said Ottawa and Irving Shipbuilding, a Canadian firm which will actually build the vessels, had identified Lockheed Martin Canada as t...Read More
The Comex copper price rebounded in the US morning on Friday October 19 despite weak growth in China, with potential further stimulus from the Chinese central bank expected. The copper price for December settlement on the Comex division of the New York Mercantile Exchange rose 2.70 cents to $2.7735 per lb. China's economic growth slowed more than expected in the third quarter of this year to the w...Read More
An opioid epidemic is destroying lives across America.And chances are this deadly plague has already taken root in your backyard.Opioid addiction, overdoses, and deaths are rising at an alarming rate nationwide. The Centers for Disease Control and Prevention (CDC) reports a 200% increase in overdose deaths involving opioids since 2000.Today, over 42,000 Americans die annually after overdosing on o...Read More
WASHINGTON (Reuters) - President Donald Trump came under criticism on Friday from U.S. lawmakers and press organizations after praising a Montana congressman who body-slammed a reporter last year.Trump’s praise for Greg Gianforte, a Republican member of the U.S. House of Representatives who pleaded guilty to a misdemeanor assault charge for the incident involving the reporter, coincides with...Read More
ANKARA (Reuters) - Turkish prosecutors investigating the disappearance of Saudi journalist Jamal Khashoggi questioned Turkish employees of the Saudi consulate in Istanbul on Friday, widening the hunt for evidence in a case straining some of Riyadh’s oldest alliances.Khashoggi went missing more than two weeks ago after entering the consulate to obtain documents in relation to a forthcoming ma...Read More
LONDON (Reuters) - (This October 18 story has been refiled to correct paragraphs 2 and 7 to say the report will be finalised, not published.)A report on risks to the stability of derivatives markets posed by Brexit could lead to regulatory intervention, European Commission officials said on Thursday, dismissing warnings they could tumble off a cliff if Britain leaves the EU with no deal.EU financi...Read More
Three-month base metals prices on the London Metal Exchange were for the most part firmer with gains averaging 0.6% on the morning of Friday October 19, but this follows a general down day on Thursday, when the complex closed down by an average of 0.8%. This morning, prices range from slightly lower on lead to up by 2.1% for nickel, while copper is up by 0.7% at $6,174 per tonne. Volume has been a...Read More
MEXICO CITY (Reuters) - Mexican Foreign Minister Luis Videgaray said on Friday that the country will face the challenge of responding to a migrant caravan that U.S. President Donald Trump has insisted must be halted before it reaches the U.S. border.Videgaray was speaking during a joint press conference in Mexico City with U.S. Secretary of State Mike Pompeo, who thanked Mexico for its efforts to...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
SHANGHAI (Reuters) - A Chinese consumer body has criticised iPhone maker Apple Inc over a recent data security issue which impacted a number of consumers in China who said they had suffered financial losses after having their Apple IDs stolen.Apple said earlier this month that an internal investigation had found that a “small number of our users’ accounts were accessed through phishing...Read More
SINGAPORE/WASHINGTON (Reuters) - The United States and South Korea have suspended upcoming joint air defense exercises to give diplomatic efforts with North Korea “every opportunity to continue,” the U.S. military said on Friday.The Pentagon said the decision to suspend Exercise Vigilant Ace, which had been scheduled for December, was taken by U.S. Defense Secretary Jim Mattis and Sout...Read More
MUMBAI, Oct 19 (Reuters) - India’s interest rate setting committee sees a risk of rising headline inflation from high crude oil prices and a weak rupee, indicating potential rate hikes ahead even as it held rates unchanged at its last meeting.Minutes of the Reserve Bank of India’s monetary policy committee’s (MPC) October meeting, released on Friday, showed most committee members...Read More
ZURICH (Reuters) - ABB Chief Executive Ulrich Spiesshofer will not attend an investment conference in Saudi Arabia next week, the Swiss engineering group said on Friday.Spiesshofer joins other world business and political leaders who have withdrawn amid concern about a journalist's fate. ABB did not give a reason for his decision.The list of senior executives who have canceled attendance at Riyadh...Read More
A meeting in Brussels next week will discuss whether four chemical compounds irreplaceable in the production of lead batteries should be banned, effectively spelling the end for the technology in the region. The proposal for an in-effect ban is part of Reach, a European Union regulation concerning the Registration, Evaluation, Authorization and restriction of Chemicals that came into force in 2007...Read More
(Reuters) - Facebook Inc (FB.O) has hired former U.K. Deputy Prime Minister Nick Clegg to lead its global affairs and communications team, as the social network deals with a number of scandals related to privacy, fake news and election meddling.The appointment makes Clegg, former leader of Britain’s Liberal Democrats and deputy to David Cameron between 2010 and 2015, the most senior European...Read More
PARIS (Reuters) - While France has experienced political turbulence and disappointing economic data in recent months, beneath the surface are signs of deeper change that suggest President Emmanuel Macron’s reform drive is starting to bear fruit.For much of this year, the 40-year-old president and former investment banker has had to endure less-than-thrilling news on the economic front, with...Read More
Indian domestic prices for hot-rolled coil (HRC) have been showing signs of weakness on account of muted demand in the week ended Friday October 19.Local mills so far have not reduced domestic prices for HRC but they are facing pressure from buyers to consider a correction in prices."There is a lot of pressure from our distributors to reduce HRC prices, but we will not be reducing prices in Octobe...Read More
(Reuters) - Procter & Gamble Co (PG.N) reported first-quarter profit that beat estimates and sales that unexpectedly rose on Friday, thanks to robust demand for its beauty and cleaning products, helping it stave off rivalry from cheaper store-branded products.Organic sales, which exclude revenue from newly acquired units, enjoyed growth of 4 percent, the best in five years.Sales surged 5 perce...Read More