Premier Gold Mines Limited (TSX:PG) is a gold producer, with a high-quality pipeline of precious metal projects in proven, accessible and safe mining jurisdictions in Canada, the United States, and Mexico. The goal is to evolve into a low-cost, mid-tier gold producer, through its two producing mines and the development of its Hardrock Project in Ontario (Greenstone Gold JV) and McCoy-Cove Property...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed ferrous trade cases from around the world in October 2018.The case list below includes only updates. For other continuing cases this year, see the updates for January, February, March, April, May, June, July, August and September.1. EU: seamless steel pipes and tubes from Ru...Read More
HONG KONG(Reuters) - The economic impact of the intensifying trade war between Washington and Beijing appeared to deepen last month with factory activity and export orders weakening across Asia, but analysts warned the worst was yet to come.In a sign conditions for exporters and factories were deteriorating, manufacturing surveys showed marginal growth in China, a slowdown in South Korea and Indon...Read More
A 1% increase in China's export rebate rate for hot-rolled coil will have a minimal impact on the spot market, traders in the country told Fastmarkets on Thursday November 1.The increase in the export rebate for HRC, from 9% to 10%, is just one of 3,449 product rebates announced by China's State Administration of Taxation on Thursday.Existing 9% rebates were increased to 1...Read More
The Thursday Market Minute Global stocks were mixed Thursday as investors gingerly returned to risk markets following the worst month for equities in at least two years amid lingering concerns over U.S.-China trade, rising interest rates and slowing economic growth.U.S. tech stocks are likely to remain in focus today after the biggest monthly decline for the Nasdaq in nearly 10 years and ahead o...Read More
AM Investco Italy, a consortium led by the world's largest steelmaker, ArcelorMittal, completed the transaction to acquire Italian steelmaker Ilva on Thursday November 1, the company said today.Following completion of the transaction, ArcelorMittal has assumed full management control of Ilva, which will form a new business cluster within ArcelorMittal Europe - Flat Products and be known as Arcelor...Read More
Turkish domestic rebar and wire rod prices went down this week because the value of the country's lira strengthened against the dollar, even though demand remained moderate, sources said on Thursday November 1.Fastmarkets' weekly price assessment for domestic rebar on Thursday was TRY3,300-3,450 ($596-623) per tonne ex-works, including 18% VAT, down from last week's TRY3,380-3,520 per tonne.The lo...Read More
Turkish long steel export prices have remained stable over the past week on soft demand and despite the firm input costs, sources said on Thursday November 1.Fastmarkets' weekly price assessment for rebar exports out of Turkey was unchanged week on week on November 1 at $500-505 per tonne fob on an actual weight basis.The mills in the country were trying to keep their...Read More
ADEN (Reuters) - The Saudi-backed Yemeni government said on Thursday it was ready to work on confidence-building measures under U.N.-led peace efforts as the United States pressed for an end to a war that has pushed Yemen to the brink of starvation.Saudi Arabia and the United Arab Emirates, who are leading a coalition fighting Yemen’s Iranian-aligned Houthi insurgents in a conflict that has...Read More
Steel billet import prices in Egypt fell in the week to Thursday November 1, on continuing limited demand in the country. Fastmarkets' weekly price assessment for steel billet imported into Egypt was $477-480 per tonne cfr on Thursday, compared with $480-490 per tonne cfr last...Read More
(Reuters) - Twenty-First Century Fox Inc (FOXA.O) Executive Chairman Lachlan Murdoch said Thursday it is still an “open question” whether the company will buy back the regional sports networks it sold to entertainment company Walt Disney Co (DIS.N) in July as part of a $71 billion deal.Speaking at the New York Times Co’s (NYT.N) DealBook conference in New York, Murdoch, who will...Read More
LONDON (Reuters) - British sports minister Tracey Crouch resigned from government on Thursday, the BBC reported, in a row over whether ministers had delayed a proposed implementation of gambling reforms.The government is to cut the maximum stake on fixed-odds betting terminals (FOBTs) from 100 pounds to just two pounds, but not until next October. The move came after ministers opted to try to tack...Read More
WASHINGTON (Reuters) - The U.S. Justice Department unveiled an indictment against two companies based in China and Taiwan and three individuals on Thursday, saying they conspired to steal trade secrets from U.S. semiconductor company Micron (MU.O) relating to its research and development of memory storage device products.The charges against Taiwan-based United Microelectronics Corp (2303.TW), Chin...Read More
Pig iron export prices from the Black Sea region were largely stable this week, with sellers maintaining offers at the upper end of last week's price range, Fastmarkets learned on Thursday November 1.Fastmarkets' weekly price assessment for high-manganese pig iron was $365-375 per tonne fob Black Sea on Thursday, narrowing upward by just $5 per tonne.Cargoes intended for Italy originating in the B...Read More
TORONTO, Nov 1 (Reuters) - Ontario Finance Minister Vic Fedeli will present the fall economic statement of Canada's biggest province on Nov. 15, a spokesman for the Ontario Ministry of Finance said on Thursday.The province's new Progressive Conservative Party government, led by populist Doug Ford, accepted in September a recommendation made by a commission of inquiry that it should more than doubl...Read More
(Reuters) - The New York Times Co (NYT.N), assailed by a U.S. president who brands it as “failing,” signed up more than 200,000 paying online subscribers in the third quarter, helping it top Wall Street estimates for both profit and revenue.Shares in the publisher rose 8 percent after quarterly results on Thursday showed digital-only subscribers rose to 3.1 million at the end of Septem...Read More
JAKARTA (Reuters) - The pilot of a Lion Air flight from Indonesia’s Bali island on Sunday made a radio alert minutes after take-off due to technical problems, but they were overcome and he pushed on to Jakarta. The same jet crashed on another flight hours later, killing all 189 people on board.Herson, chief of the airport authority for the Bali-Nusa Tenggara area, told Reuters that after the...Read More
Turkish steel producers made no purchases in the deep-sea scrap market on Thursday November 1, with a fresh offer of material from the Baltic Sea region failing to find a taker, according to market participants.A scrap merchant in the Baltic Sea region was heard offering 30,000-35,000 tonnes of HMS 1&2 (95:5) at $345 per tonne cfr on Thursday. No mill had accepted the cargo at...Read More
LONDON (Reuters) - Swiss bank UBS (UBSG.S) will expand training for staff investigating sexual misconduct claims, and introduce a confidential hotline to handle such allegations, an internal memo sent to staff seen by Reuters shows.The changes follow a review conducted by law firm Freshfields into how UBS handled a former junior trader’s initial allegation that she was raped in September 201...Read More
CloseGain/LossGold $1233.20+$16.30Silver$14.74+$0.46XAU67.19+4.52%HUI149.73+4.84%GDM544.52+3.60%JSE Gold1139.52-24.28USD96.27-0.74Euro114.11+0.86Yen88.87+0.25Oil$63.69-$1.6210-Year3.139%-0.008T-Bond138.50+0.375Dow25380.74+1.06%Nasdaq7434.06+1.75%S&P2740.37+1.06% The Metals: Gold climbed steadily higher throughout most of world trade and ended near its midafternoon New Yor...Read More