(Recasts and updates with closing prices)By Pratima DesaiLONDON, Oct 29 (Reuters) - Copper prices steadied on Mondaywith support from shortages created by tumbling inventories onthe London Metal Exchange countering concern over growth anddemand because of the U.S.-China trade dispute.Benchmark copper on the LME ended unchanged at$6,160 a tonne, having touched a session high of $6,240."Copper...Read More
(Reuters) - U.S. stocks gained on Monday, helped by relief over Italy maintaining its debt rating, as equities clawed back from a sharp sell off last week.Financials .SPNY led broad gains among sectors as the benchmark S&P 500 rose more than 1 percent.Shares of software maker Red Hat Inc (RHT.N) gave among the biggest boosts to the S&P 500, surging 45.3 percent after the company agreed to...Read More
The stock market opened with a resounding thud on Tuesday morning, as the Dow Jones Industrial Average DJIA, -0.99% , at one point, had shed more than 500 points. The S&P 500 index SPX, -0.66% and the Nasdaq Composite COMP, -1.63% endured even harder hits, down more than 2% each. Read: Dow plunges amid corporate outlook, China selloff So, you must positioning yourself for that tasty bounc...Read More
Comex copper prices edged higher Monday morning in the US with the market holding steady amid further Chinese stock market deterioration. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 1.25 cents to $2.7535 per lb.Concerns of a slowdown in the Chinese economy continue to weigh on Asian shares, with the Shanghai Composite falling 2.2% ov...Read More
LONDON (Reuters) - As global stock markets head for one of their worst months in a decade and bond market volatility surges to more than four-month highs, the stampede out of risk has left the foreign exchange market largely unmoved.Riskier currencies - from emerging markets or linked to commodity prices - have not suffered the sharp selloffs that would normally be expected when panicked investors...Read More
South Korean zinc smelter Young Poong is facing a 20-day shutdown at its Sukpu refined zinc smelter after a court rejected the company's appeal against a closure order.Situated in a national park, the Sukpu smelter is alleged to have discharged waste from the smelting process into the local river, which is used for drinking water by millions of people. Environmental groups and residents have been...Read More
GENEVA (Reuters) - The United States urged European Union governments on Monday to reflect on whether it was really in their interest for the EU to go ahead with a trade dispute over U.S. metals tariffs, and said it was hopeful of settling the issue with Mexico and Canada.U.S. Ambassador Dennis Shea told the WTO’s monthly dispute settlement meeting, which was considering 12 requests for adju...Read More
* Dollar index near 10-week peak, stocks up * Net short position in gold smallest since mid-July-CFTC * GRAPHIC-2018 asset returns: (Updates throughout, adds quotes, prices)By Swati VermaBENGALURU, Oct 29 (Reuters) - Gold eased on Monday, afterhitting a more than three-month peak in the previous session, asthe dollar strengthened and stocks moved into positiveterritory. Spot gold was down 0.2 perc...Read More
Prices for manganese ore imported into China on an fob basis ticked upward in the pricing session that ended on Friday October 26, while trading activity started to pick up in China before the onset of winter. High- and low-grade manganese ore prices showed modest increases Manganese ore grade prices in China ticked upward Falling bids weigh on Indian silico-manganese prices US focuses on long-ter...Read More
NEW YORK (Reuters) - The dollar edged higher against the euro, on Monday, close to a 10-week high hit last week, on news German Chancellor Angela Merkel would not seek re-election as head of her CDU party.More broadly, the dollar added to recent gains against other major currencies, supported by robust U.S. consumer spending data on Monday.Merkel said she would not seek re-election as party chairw...Read More
Oct 29 (Reuters) - Chicago Federal Reserve Bank President Charles Evans on Monday did not touch on monetary policy or the U.S. economic outlook in prepared remarks to an annual summit on regional competitiveness in Chicago, in which he called for local leaders to expand work opportunities amid a tight labor market. (Writing by Ann Saphir Editing by Chizu Nomiyama) Disclaimer: The views expressed...Read More
Ammonium paratungstate (APT) prices remained supported, with a new round of environmental inspections expected to take supply out of the market. Environmental inspections team to return to Jiangxi, Hunan provinces; APT price supported Ferro-tungsten prices range-bound on weak demand, oversupply Concentrates prices unchanged awaiting clear market directionFastmarkets MB assessed the European APT pr...Read More
DETROIT (Reuters) - U.S. auto sales likely fell slightly in October from a year earlier, when replacement demand following hurricanes Harvey and Irma boosted business, industry consultants J.D. Power and LMC Automotive said on Monday.“The year-over-year comparison is difficult as sales in October last year were inflated by vehicle replacement demand associated with Hurricanes Harvey and Irma...Read More
Prices for manganese ore imported into China on an fob basis ticked upward in the pricing session that ended on Friday October 26, while trading activity started to pick up in China before the onset of winter. High- and low-grade manganese ore prices showed modest increases Manganese ore grade prices in China ticked upward Falling bids weigh on Indian silico-manganese prices US focuses on long-ter...Read More
WASHINGTON/SINGAPORE (Reuters) - Shortly after U.S. President Donald Trump announced in May he would reimpose sanctions on Iran, the State Department began telling countries around the world the clock was ticking for them to cut oil purchases from the Islamic Republic to zero.The strategy is meant to cripple Iran’s oil-dependent economy and force Tehran to quash not only its nuclear ambition...Read More
South Korean zinc smelter Young Poong is facing a 20-day shutdown at its Sukpu refined zinc smelter after a court rejected the company's appeal against a closure order.Situated in a national park, the Sukpu smelter is alleged to have discharged waste from the smelting process into the local river, which is used for drinking water by millions of people. Environmental groups and residents have been...Read More
WASHINGTON (Reuters) - U.S. consumer spending rose for a seventh straight month in September, but income recorded its smallest gain in more than a year amid moderate wage growth, suggesting the current pace of spending was unlikely to be sustained.The Commerce Department said on Monday consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.4 percent last...Read More
CloseGain/LossGold $1229.10-$4.90Silver$14.45-$0.25XAU64.70-0.71%HUI144.02-0.43%GDM529.83-0.10%JSE Gold1166.01-47.57USD96.61+0.26Euro113.85-0.35Yen89.06-0.36Oil$67.04-$0.5510-Year3.088%+0.009T-Bond139.28125-0.15625Dow24442.92-0.99%Nasdaq7050.29-1.63%S&P2641.25-0.66% The Metals: Gold dropped $6.30 to $1227.70 in London and spiked down to $1224.50 in early afternoon New York trade, but it th...Read More
Brazilian copper producer Paranapanema expects relatively stable copper prices and treatment and refining charges (TC/RCs) during the fourth quarter compared with the July-September period, chief executive officer Marcos Camara told Fastmarkets MB on Friday October 26. The company estimates the London Metal Exchange three-month copper price to range $6,000-6,500 per tonne until year-end. TC/RCs, t...Read More
BERLIN (Reuters) - German Chancellor Angela Merkel told leaders of her conservatives on Monday that she will not seek re-election as party chairwoman, senior party sources said, heralding the end of a 13-year era in which she has dominated European politics.Merkel, 64, has been chairwoman of her conservative Christian Democrats (CDU) since 2000 and chancellor since 2005. Party sources said Merkel...Read More