Peel Mining Limited (ASX: PEX) is an Australian company focused on exploring and developing precious and base metals resources in New South Wales. Since listing in May 2007, Peel has identified and acquired several valuable mineral assets, including the Wagga Tank - Southern Nights project near Mt Hope, NSW, the May Day-Gilgunnia project (includes Mallee Bull) near Cobar, NSW, and the Cobar Superb...Read More
Mobarakeh Steel, the largest steelmaker in the Middle East-North Africa region, does not expect the new United States sanctions to affect its production, financial activities and exports.On October 16, Mobarakeh Steel - along with a number of other Iranian companies - was added to the list of sanctioned entities by the US Office of Foreign Assets Control (OFAC)."Mobarakeh Steel Company... is used...Read More
China's domestic and export prices for hot-rolled coil fell on Wednesday October 24, with expectations of a further decline making a few mills more eager to sell their products abroad.DomesticEastern China (Shanghai): 4,170-4,190 yuan ($601-604) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 4,080-4,100 yuan per tonne, widening downward 10 yuan per tonneSellers in Shanghai tested buyer...Read More
WASHINGTON (Reuters) - The United States wants perfect clarity on what happened in the death of prominent Saudi journalist Jamal Khashoggi, U.S. Secretary of State Mike Pompeo said in an internal email sent widely to U.S. State Department employees.“We are already seeing steps from Saudi Arabia reflecting serious accountability, but we won’t be satisfied until we get perfect clarity on...Read More
NEW YORK (Reuters) - Stock markets around the world edged lower on Wednesday while U.S. treasuries prices rose as investors favored safer investments amid a range of uncertainties, while the U.S. dollar surged and oil prices steadied after the previous day’s session.Investors have been unnerved by a range of issues in recent days, including some disappointing earnings reports, worries about...Read More
Major Chinese steel mills raised their crude steel output slightly in early October.China Iron & Steel Association (Cisa) members produced crude steel at an average rate of 1.9874 million tonnes per day during the first 10 days of the month, up 0.13% from 1.9848 millon tonnes per day during the last 10...Read More
(Reuters) - U.S. stocks dropped on Wednesday as weak results from AT&T and sour outlook from chipmakers ahead of key earnings added to growing worries about corporate profit growth and overshadowed optimism from Boeing’s raised forecast.A slew of results this week is expected to throw spotlight on the risk of a slowdown in China, the world’s No. 2 economy, spilling beyond its borde...Read More
Oct 24(Reuters) - Canada’s main stock index fell on Wednesday on weak investor sentiment after Bank of Canada raised benchmark interest rate.* At 10:01 a.m. ET (14:01 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 62.2 points, or 0.41 percent, at 15,222.97.*The rate increase, by a quarter of a percentage point, took the bank’s overnight interest rate to 1...Read More
FRANKFURT (Reuters) - Commerzbank (CBKG.DE) has made a non-binding offer to take a stake in German NordLB, people close to the matter said, as an auction for the ailing public-sector lender progresses.NordLB aims to boost its capital by about 3 billion euros ($3.4 billion) to cope with bad ship loans and has asked for final bids by the end of November.The bank is working on a restructuring plan th...Read More
The latest news and price moves to start the Asian day on Thursday October 25.Base metal prices on the London Metal Exchange were collectively lower at the close of trading on Wednesday October 24, pressured by continued strength in the United States' dollar index while the three-month aluminium price broke below $2,000 per tonne for the first time since April. Read more in our live futu...Read More
NEW YORK (Reuters) - The sharp surge in Tesla Inc's share price on Tuesday slammed short sellers of the stock with $1.11 billion in losses for the day on paper, pushing their performance for the year into the red, according to financial analytics firm S3 Partners.Tesla shares jumped 13 percent on Tuesday after long-time critic and short-seller Citron Research said it had a change of heart and is n...Read More
LONDON (Reuters) - British Prime Minister Theresa May will address Conservative Party lawmakers at a private meeting in parliament on Wednesday after anger at her Brexit negotiating strategy prompted some of them to discuss replacing her.May asked to address her divided party’s powerful “1922 Committee” where she can expect questions from lawmakers, some of whom have discussed fo...Read More
The United States Department of Commerce has found that Mexican steel producer Deacero has been circumventing an existing anti-dumping duty on wire rod, according to a preliminary ruling released late last week.The company's exports of carbon and certain alloy steel wire rod, with diameters lower than 4.75mm, were found to be circumventing the existing tariff, according to the preliminary decision...Read More
(Reuters) - The Dow Jones Industrial Average rose on Wednesday after Boeing raised its profit forecast, easing worries of slowing corporate profits, but a dim outlook from other China-reliant companies, including chipmakers, pressured the S&P 500 and Nasdaq.Shares of Boeing (BA.N), the single largest U.S. exporter to China, rose 3.5 percent after the planemaker topped analysts’ forecast...Read More
TEL AVIV (Reuters) - Network security provider Check Point Software Technologies reported quarterly net profit that beat expectations and said it has acquired Israel’s Dome9 to strengthen its position in cloud security.Founded in 2011, Dome9 enables security and compliance for rapid public cloud adoption.Full financial details of the acquisition were not disclosed, but Israel-based Check Poi...Read More
Prices for hollow steel sections in the domestic European market have remained stable this week but some market participants were preparing to adjust their prices downward after a decline in feedstock prices, Fastmarkets heard on Wednesday October 24.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe remained stable week on week at...Read More
BERLIN (Reuters) - Germany supports the European Commission’s demand that Italy improve its budget draft, German government spokesman Steffen Seibert said on Wednesday.The European Commission had rejected Italy’s draft 2019 budget on Tuesday, saying it brazenly broke EU rules on public spending, and asked Rome to submit a new one within three weeks or face disciplinary action.“Th...Read More
BEIJING (Reuters) - Sinopec Group and China National Petroleum Corp (CNPC), the country’s top state-owned refiners, have not made any nominations to load Iranian oil for November because of concerns they would be violating U.S. sanctions, two persons with direct knowledge of the matter said.Washington is set to re-impose sanctions on oil exports from Iran on Nov. 4 to force Tehran to halt it...Read More
A Turkish steel producer booked a US deep-sea cargo earlier this week, bringing prices down on Wednesday October 24, sources told Fastmarkets.A steel mill in the Marmara region booked a US cargo, comprising 33,000 tonnes of HMS 1&2 (80:20) at $331 per tonne, 5,000 tonnes of shredded at $336 per tonne and 2,000 tonnes of bonus grade at $341 per tonne cfr.This cargo was sold...Read More
LONDON (Reuters) - Euro zone business growth slowed much faster than expected this month, dragged down by waning orders that put a big dent in confidence, adding to evidence the bloc’s halcyon days are behind it for now, a survey showed.October’s disappointing survey is likely to concern policymakers at the European Central Bank, who are expected to end their bond-buying program in les...Read More