The Turkish steel producers have continued to hold back from new bookings in the deep-sea markets for scrap material, while prices were largely stable, sources said on Monday November 12.After booking two cargoes from the United States late last week, Turkish mills paused their purchases and went into wait-and-see mode. The latest transaction from the US included an 80:20 mix of No1 and No2 heavy...Read More
(Reuters) - Equity traders on Wall Street are expected to take home the biggest bonuses this year as a surge in volatility boosted client activity, but 2019 may not be as rosy, compensation firm Johnson Associates Inc said on Monday.The firm listed a number of challenges, including geopolitical and business challenges, falling fees, and technology disruptions, that could have a major impact on com...Read More
Turkish domestic auto bundle scrap prices have increased slightly over the past week, while ship scrap prices were stable, sources said on Monday November 12.Fastmarkets' weekly price assessment for domestic auto bundle (DKP grade) ferrous scrap was TRY1,800-1,940 ($329-354) per tonne delivered, narrowing upward from last week's TRY1,750-1,940 per tonne.The reason...Read More
* Specs trim net short positions in gold in week to Nov. 6 * Dollar index hits over 16-month peak * GRAPHIC-2018 asset returns: (Updates prices)By Sumita LayekNov 12 (Reuters) - Gold fell for a seventh straight sessionon Monday, hitting its lowest in a month as the dollar jumped to16-month highs on the back of political uncertainty in Europeand the U.S. Federal Reserve's hawkish stance on interest...Read More
* Dollar rises vs yen, franc, euro and Aussie * Greenback strength follows fed hawkish guidance * Sterling tumbles 1 pct on no-deal Brexit fears * Euro down 0.8 pct with Italy budget standoff in focus * Graphic: World FX rates in 2018 (Adds detail on Italy, updates prices)By Tom FinnLONDON, Nov 12 (Reuters) - The dollar rallied to a 16-monthhigh on Monday as investors positioned for a Federal Rese...Read More
The Monday Market Minute Global stocks hold modest gains to start the week, but a notable spike in the U.S. dollar has investors on edge as the Fed assumes its place as the world's sole central bank hawk. Oil spikes higher after Saudi Oil minister says Kingdom will reduce December output by 500,000 barrels in order to rebalance markets following weekend meeting in Abu Dhabi. China grow...Read More
LONDON (Reuters) - The dollar surged to nearly 17-month highs on Monday against a basket of major currencies as investors sought out the liquid and high-yielding asset against a backdrop of global growth worries and rising political risk in Italy and Britain.World stocks fell 0.3 percent for a third straight day in the red, receiving no respite from a rise in oil prices, while initial European equ...Read More
LONDON (Reuters) - The pound held near a 10-day low on Monday as the twin forces of a resurgent dollar and reduced expectations of a Brexit deal fuelled a selloff.In volatile trading, sterling fell to a 1-1/2 week low of $1.2827 as negative headlines over the last 48 hours punctured growing optimism last week that an agreement between Britain and the European Commission was imminent.“While s...Read More
SINGAPORE/MANILA (Reuters) - China will further open its economy in the face of rising protectionism, Premier Li Keqiang said as he arrived in Singapore on Monday for meetings with Asia-Pacific leaders that will focus on speeding up work on a major new trade pact.Li’s remarks in an article in Singapore’s Straits Times newspaper came as Singapore’s Prime Minister Lee Hsien Loong c...Read More
MOSCOW, Nov 12 (Reuters) - Russian gold and silver producerPolymetal has begun construction at its new Nezhdagold mine in eastern Siberia, which will contribute to itsdividends in 2022, it said on Monday.The London-listed firm, part-owned by businessman AlexanderNesis, is starting this new project with pre-production capitalexpenditures estimated at $234 million a few months after itlaunched its K...Read More
The Comex copper price continued its downward trend on Monday morning in the United States amid a stronger dollar and a lack of fresh news.The copper price for December settlement on the Comex division of the New York Mercantile Exchange dipped 0.45 cents to $2.68 per lb."We continue to expect a notable rebound in...Read More
PARIS, Nov 12 (Reuters) - Canadian Prime Minister JustinTrudeau said on Monday he had discussed U.S. steel and aluminiumtariffs with President Donald Trump over the weekend and that hehoped to reach a resolution on the matter by the G20 summit inArgentina."I absolutely brought up the issue of steel and aluminiumtariffs," Trudeau told a news conference in Paris on Monday.Trump and Trudeau...Read More
London-listed NQ Minerals has shipped its first lead, gold and silver concentrates from its Hellyer operation to Traxys Europe under an offtake agreement signed in August.The company said that the shipment from its polymetallic operation in Tasmania, Australia, is also its first ever from the site.Traxys' payment has been received, inaugurating the first operational cash flow generated by the Hell...Read More
* Brexit uncertainty hits pound, euro, buoys dollar * MSCI Asia Ex-Japan index down 0.5 pct * U.S. dollar hits new 16-month high * Weak China data, U.S. Fed rate hike expectations weigh * Oil prices surge on Saudi production cut plans(Updates prices, adds charts)By Sujata RaoLONDON, Nov 12 (Reuters) - The dollar surged to nearly17-month highs on Monday against a basket of major currencies asinvest...Read More
Crude oil is perhaps the most manipulated market on the planet.Would that surprise you?Would that surprise anyone? I'm willing to bet if you asked 100 people if the price of oil is manipulated, you'd get 100 affirmative responses.What's most unfortunate here is the fact that even though everyone knows oil prices are manipulated, individuals are mostly powerless to do anything about it.The SEC defi...Read More
Fastmarkets summarizes nine key points from Antaike's Nickel & Cobalt Conference on November 6-8.The spotlight was in Xiamen last week when market participants gathered to discuss hot topics in the cobalt and nickel markets, including higher cobalt prices and their impact on the market in addition to new trends for the cobalt industry.High prices do not hurt the overall use of cobalt in consumer e...Read More
Lithium Chile (TSX-V: LITH) owns seventeen projects, encompassing 159,700 hectares of potential Li-bearing Salars in Chile - home to world's largest, high-grade lithium reserves and lowest-cost lithium production. The portfolio includes projects with potential for high-grade lithium brines and excellent chemistry. We learned from Steve Cochrane, President and CEO of Lithium Chile, that they had pu...Read More
Australian lithium-spodumene producer Altura secured a binding offtake agreement with Chinese lithium producer Ganfeng International, a wholly owned subsidiary of Ganfeng Lithium, on Friday November 9.Altura will supply 70,000 tonnes per year of lithium spodumene, min 6%, from 2019 until the end of 2021. The price of the material will range from a minimum of $550 per tonne to a maximum of $950 per...Read More
Element 25 Limited (ASX: E25) is developing Australia's largest onshore manganese resource at the Company's 100% owned world-class Butcherbird Project to produce high-purity manganese products for the battery revolution. We learned from Justin Brown, who is Executive Director of Element 25, that they have developed a flow sheet, which allows them to process their manganese ore into high-purity man...Read More
Trade log for battery-grade lithium carbonate in China including trades, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per tonne on an ex-works China basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets price assessment for lithium carbonate min 99.5% Li2CO3 battery grade, spot price range, ex-works China, yuan per tonne. Fa...Read More