The latest metal markets news and price moves to start the North American day on Tuesday October 23.Base metals prices on the London Metal Exchange were broadly lower during morning trading, hampered by broad risk-aversion amid a two-year low in European stock indices while a firm dollar index continues to limit price rallies.Here is...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Tuesday October 23.Base metals prices on the Shanghai Futures Exchange were mostly down during Asian morning trading on Tuesday amid a firmer dollar and ongoing trade tensions, with only tin prices recording significant gains. Check Fastmarket MB's live futures report here.Prices for China-ori...Read More
Shares in Caterpillar (NYSE: CAT), the world's no.1 heavy machinery maker, fell more than 7% in pre-market trading Tuesday, despite the company beating earnings estimates for the tenth time in a row.The stock lost as much as $9.76 by 8:48 a.m. EST, dropping to $118.95, after closing at $128.71 on Monday, the lowest so far this year. The drop followed the mining and construction equipment manufact...Read More
London-listed explorer Greatland Gold (LON:GGP) has detected copper, silver, gold and pathfinder elements at its Scallywag target of the company's Paterson project in Western Australia.The sampling results, said Greatland on Tuesday, reinforce the potential of both precious metals and copper mineralization at the site, located within its Havieron licence.Copper, silver and gold detected in the fi...Read More
* Wall St tumbles as weak industrial forecasts add to sour mood* Saudis could pump 1-2 million bpd more than today - Falih* Rising U.S. oil output to offset Iran: https://tmsnrt.rs/2ECCJ4T* U.S. crude oil stocks rise 9.9 mln bbls -API (Adds API data, price reaction)By Devika Krishna KumarNEW YORK, Oct 23 (Reuters) - Oil prices plunged about 5 percent on Tuesday to two-month lows as a sell-off in g...Read More
* NSE index down 0.96 pct, BSE index ends 0.84 pct* Asian Paints closes over 5 pct downOct 23 (Reuters) - Indian shares ended lower on Tuesday, sinking further in the last hour of trade, as oil marketing companies dragged following a rating downgrade by brokerage Nomura, but macro concerns played on overall sentiment.The benchmark BSE index .BSESN closed down 0.84 percent at 33,847.23, its lowes...Read More
NEW DELHI, Oct 23 (Reuters) - India's top digital payments company Paytm said on Tuesday its consumer data was safe after police arrested three people, including the company's spokeswoman, over allegations they tried to blackmail its founder and extort nearly $3 million by threatening to leak personal data."This is a case of personal data theft of Vijay Shekhar Sharma, where three arrests were mad...Read More
Shares in Caterpillar (NYSE: CAT), the world's no.1 heavy machinery maker, fell more than 7% in pre-market trading Tuesday, despite the company beating earnings estimates for the tenth time in a row.The stock lost as much as $9.76 by 8:48 a.m. EST, dropping to $118.95, after closing at $128.71 on Monday, the lowest so far this year. The drop followed the mining and construction equipment manufact...Read More
Movements in the prices of base metals on the London Metal Exchange were mixed at the close of trading on Tuesday October 23, with tin's strong performance leading the gains across the complex despite a strong US dollar index and broadly risk-averse investors.The three-month tin price has climbed by 2.8% since the start of October and reached an intraday high on Tuesday of $19,400 per tonne. It ha...Read More
Comex copper prices were dragged lower by the downturn in equity markets on October 23 morning in the US, after beginning the trading week on solid footing.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 2.65 cents to $2.7590 per lb."The three-month copper price is under renewed downward pressure on Tuesday October 23 morning after being esse...Read More
Australian iron ore prices firmed up on Tuesday October 23 supported by limited availability, while there were softer prices for Brazilian material.MB 62% Fe Iron Ore Index: $74.31 per tonne cfr Qingdao, up by $0.51 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.34 per tonne cfr Qingdao, up by $0.51 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.70 per tonne cfr Qingdao, down by $0.30 per...Read More
China's alumina exports in September surged more than fivefold from August to 165,839 tonnes, according to customs data released on Tuesday, the highest monthly volume this year.Last month's exports rose from 29,722 tonnes in August and were up more than 3,400 percent from a year earlier.China, the world's largest aluminium maker, rarely exports large volumes of alumina, a raw material for making...Read More
RAPAPORT... A brand-management company that owns the Marilyn Monroeestate has bought the trademark rights to "Diamonds Are a Girl's Best Friend"at an auction of assets belonging to Nirav Modi's US businesses. ABG Intermediate Holdings, which trades as Authentic BrandsGroup (ABG), acquired the intellectual property related to the actress and singer'sfamous song title for $50,000 last month, accordi...Read More
RAPAPORT... De Beers' production fell 5% to 8.7 million carats in thethird quarter due to planned reductions in mining volumes in Botswana and SouthAfrica. The miner processed lower-grade ore at its Jwaneng mine inBotswana, resulting in overall output for Debswana - its joint venture with thenation's government - declining 6% to 5.7 million carats. It also carried out a scheduled shutdown of...Read More
RAPAPORT... The World Jewellery Confederation (CIBJO) has proposedit work with other industry groups to consult with the US Federal TradeCommission (FTC) over its fiercely debated diamond terminology.Industry leaders attending the October 15 to 17CIBJO Congress in Bogot??, Colombia, called for the sector to relay a clearer message toconsumers when marketing diamonds, whether natural or laboratory-...Read More
(Excerpt from upcoming article by Alisha Hiyate in Diamonds in Canada magazine, published by The Northern Miner ) In 2013, De Beers Canada turned down a chance to own a majority stake in Peregrine Diamonds' Chidliak project in Nunavut. Five years later, it now owns the project outright.So what changed in that time period? De Beers Canada CEO Kim Truter says that the timing just wasn't quite ri...Read More
RAPAPORT... Alrosa's sales increased in the third quarter amid strongerdemand and a move toward larger diamonds, the miner reported.Revenue from rough stones rose 12% year on year to $949million for the three months ending September 30, the Russian company said Monday. Whilesales volume fell 11% to 6.7 million carats, the average price grew 26% to $142 per carat. Prices have climbed 5.2% sinc...Read More
RAPAPORT... Lucara Diamond Corp. will launch its first sale in Novemberusing its new digital platform that allows customers to obtain the exact rough diamondsthey need, it said Monday. The miner will upload a variety of diamonds to its Clarasystem, including stones from its Karowe mine in Botswana. It will also offer roughfrom other sellers, ranging from 1 to 15 carats in higher color grades...Read More
Anglo American's De Beers, the world's top diamond producer by value, saw rough diamond production decrease by 5% to 8.7-million carats in the quarter ended Sept. 30, mainly due to planned volume reductions in Botswana and South Africa.Output fell by 6% to 5.7 million carats in Botswana as a result of the planned processing of lower-grade material at the Jwaneng mine. Production at Orapa re...Read More
(Adds company news items and futures.) Britain's FTSE 100 .FTSE index is seen opening 40 points lower on Tuesday, according to financial bookmakers, with FTSE 100 futures .FFIc1 down 1.01 percent ahead of the cash market open.* ST JAMES: British wealth manager St. James's Place SJP.L on Tuesday posted a 4.1 percent rise in quarterly funds under management, shrugging off market jitters to take in f...Read More