Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - After two good sessions gold is pausing for breath this morning. The yellow metal trades -0.22% lower while silver is down -0.18%. In the rest of the commodities complex, copper is 0.32% higher along w...Read More
Metals and battery materials company Umicore has signed long-term lithium supply agreements with China's Ganfeng Lithium and Germany's Vulcan Energy Resources, the Belgian company announced on Friday October 15.Ganfeng Lithium, based in Jiangxi, southeast China, will provide Australian-origin lithium from 2022 for "a significant part of Umicore's future lithium requirements in Asia," a press relea...Read More
Most prices for flat-rolled steel products imported into South America were down during the week ended Friday October 15, with Brazilian mills lowering their offers, Russian sellers pressuring the market downward and Chinese material still scarce in the region.While some offers from China emerged at higher levels, following a week-long holiday in the Asian country, reduced export availability to S...Read More
You may not realize it with the surge in oil and gas stocks recently, but there's another sector of the energy market you need to be a part of.It's the booming solar energy sector.The global solar energy market was valued at $52.5 billion in 2018 and is projected to reach $223.3 billion by 2026, growing at a CAGR of 20.5% over that time, according to a new report from Allied Research. That's just...Read More
Oct 15 (Reuters) - UK Prime Minister Boris Johnson will host a dinner with world business leaders, including Bill Gates and JPMorgan Chase & Co (JPM.N) Chief Executive Officer Jamie Dimon, The Telegraph reported on Friday.Around 20 executives are expected to attend the dinner in a bid to establish "Global Britain," on Oct. 18 at 10 Downing Street, the report added.Reporting by Anirudh Sali...Read More
MADRID, Oct 15 (Reuters) - Spanish bank Sabadell has reached an agreement with unions to lay off up to 1,605 employees in its home market, fewer than the initially planned more than 1,900, the leading union Comisiones Obreras (CCOO) said on Friday.The agreement to reduce the workforce in Spain was reached after the bank met some of the union's demands, such as setting a lower number of layoffs, ca...Read More
NEW DELHI, Oct 15 (Reuters) - U.S. Senator Elizabeth Warren called for breaking up Amazon.com Inc (AMZN.O) and Indian retailers demanded a government probe of the company after a Reuters investigation showed the e-commerce giant had copied products and rigged search results in India.The Reuters report, reviewing thousands of internal Amazon documents, found that the U.S. company ran a systemati...Read More
Coated steel coil prices increased sharply in Turkey during the week ended Friday October 15 and some producers stopped accepting new orders, sources told Fastmarkets.Producers stopped accepting orders because prices for hot-rolled coil, the base material for coated coils, continued to increase and producers wanted to reflect cost increases in their end-product prices.Fastmarkets' weekly price ass...Read More
A lack of trading across Europe kept domestic prices for hot-rolled coil fairly stable on Friday October 15, sources told Fastmarkets.Bearish sentiment is prevailing in the market, supported by poor demand from the automotive sector and good domestic supplies. Buyers and sellers have mainly been holding back from making deals, with only limited volumes traded in Europe during the week, sources sai...Read More
NEW YORK, Oct 15 (Reuters) - Disruptions to transportation of coffee around the world, caused by container shortages and port congestion, will likely keep coffee prices high for a longer time since they make it more difficult for the market to rebalance supplies geographically.Coffee analysts and traders said on Friday during the annual conference organized by the Swiss Coffee Trade Association (S...Read More
* CBOT corn, soy firm on renewed hopes of increased exports* CBOT wheat turns higher on Paris rally* U.S. soybean crush hits three-month low in September (Recasts, updates with U.S. trading, adds analyst quote, changes byline and dateline, previous PARIS/SINGAPORE)CHICAGO, Oct 15 (Reuters) - Chicago corn and soybean futures prices rose on Friday, supported by technical buying and renewed hopes of...Read More
Steel wire rod prices in Poland were broadly flat in the week to Friday October 15, while market sources expect producers to increase prices in November due to higher energy costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland remained at 3,800-3,900 zloty ($964-989) per tonne on Friday, unchanged from the previous we...Read More
OTTAWA (Reuters) -Canadian Prime Minister Justin Trudeau said on Friday he would reshuffle his cabinet on Oct. 26 and bring back Parliament in late November, prompting opposition complaints of time-wasting.Trudeau was re-elected to a third term in office on Sept. 20 but for the second time in a row only won a minority of seats in the House of Commons, which means he needs to cooperate with opposit...Read More
(Reuters) -The U.S. health regulator is delaying its decision on authorizing Moderna Inc's COVID-19 vaccine for adolescents to check if the shot could increase the risk of heart inflammation, the Wall Street Journal reported on.wsj.com/3p3P5Zp on Friday, citing people familiar with the matter.Moderna's shares fell nearly 2% to $326.25 in midday trading after the report.The U.S. Food and Drug Adm...Read More
Poland's steel rebar market remained flat in the week to October 15, but sources expect producers to seek higher prices due to high energy costs, sources told Fastmarkets on Friday.Rebar offers from local mills were at 3,600-3,700 zloty ($913-938) per tonne ex-works, but some had already finished October sales and are yet to return with November offers."ArcelorMittal is expected to announce new pr...Read More
Eastern China rebar prices lost upward momentum on Friday October 15 due to sellers' need to reduce inventories.DomesticEastern China (Shanghai): 5,770-5,800 yuan ($896-901) per tonne, unchangedNorthern China (Beijing) weekly assessment: 5,600-5,650 yuan per tonne, down by 200 yuan per tonneSellers expect prices will have little chance to rise in the remaining days of October, so...Read More
(Reuters) -Oil prices jumped to a three-year high above $85 a barrel on Friday, on forecasts of a supply deficit over the next few months, spurred by rising demand due to the easing of travel restrictions.Brent crude futures were up 77 cents, or 0.9%, at $84.77 a barrel at 11:48 a.m. EST (1548 GMT). Front-month prices, which touched their highest since October 2018 at $85.10, were headed for a wee...Read More
The market for pig iron exports from the south of Brazil went up during the week to Friday October 15 because of new sales, Fastmarkets has heard.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $500 per tonne on Friday, up from $480-485 per tonne a week earlier.Two sales were heard at...Read More
Oct 15 (Reuters) - Amazon.com Inc-owned (AMZN.O) Twitch said on Friday that last week's data breach at the live streaming e-sports platform contained documents from its source code.Passwords, login credentials, full credit card numbers and bank details of users were not accessed or exposed in the breach, Twitch said in a statement.The platform, which is used by video gamers for interacting with...Read More
Prices in the United States' pig iron import market went up during the week to Friday October 15 amid an improved global market mood, sources told Fastmarkets. Fastmarkets' assessment of the price for pig iron, import, cfr Gulf of Mexico, US was $545-550 per tonne on Friday, up from $540 per tonne a week earlier.Offers of Russia-origin...Read More