Base metals prices on the London Metal Exchange were mostly trading lower at the close on Wednesday October 17, with sentiment in the market weakening, but zinc continued to outperform. Three-month lead, aluminium and tin prices all started the day in positive territory but weakened this afternoon, while nickel was down 1.2% due to a lack of directional news for the near term. Aluminium prices dip...Read More
Comex copper prices were slightly higher in morning trading on Wednesday October 17 with a rising dollar preventing any significant gain.The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 0.60 cents to $2.7855 per lb. "We are seeing very quiet conditions in metals so far this week; yesterday ended in a mixed...Read More
Seaborne iron ore prices went up on Wednesday October 17 amid bullish sentiment and a surge in the paper markets.MB 62% Fe Iron Ore Index: $73.36 per tonne cfr Qingdao, up by $1.86 per tonne.MB 62% Fe Pilbara Blend Fines Index: $72.39 per tonne cfr Qingdao, up by $1.86 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.75 per tonne cfr Qingdao, up by $2.05 per tonne.MB 58% Fe Premium Index: $61.4...Read More
LONDON, Oct 17 (Reuters) - British Prime Minister Theresa May and business minister Greg Clark met Ratan Tata, patriarch of the Indian Tata family, a few weeks ago as its car brand Jaguar Land Rover warns about the effect of Brexit and diesel policy, a government source said.The sprawling Tata conglomerate includes manufacturing, defence, aerospace, services and steel operations.Tata bought ailing...Read More
* U.S. crude stocks up 6.5 mln bbls in fourth weekly build -EIA* U.S. crude production dips to below 11 mln bpd* Trump gives Saudi benefit of doubt in journalist disappearance (Adds trade volumes, background)By David GaffenNEW YORK, Oct 17 (Reuters) - Oil prices fell on Wednesday, with U.S. futures settling below $70 a barrel for the first time in a month, after U.S. crude stockpiles rose 6.5 mill...Read More
* NSE index down 1.2 pct, BSE index ends 1.1 pct lower* Indiabulls Housing down 14.3 pct* Reliance Q2 results awaitedOct 17 (Reuters) - Indian shares ended more than one percent lower on Wednesday, dragged by financial stocks such as Indiabulls Housing Finance Ltd INBF.NS and Yes Bank Ltd YESB.NS amid liquidity concerns.The benchmark BSE index .BSESN closed 1.09 percent lower at 34,779.58 whil...Read More
(Adds company news items, futures)Oct 17 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 27 points higher at 7,087 on Wednesday, according to financial bookmakers, with FTSE 100 futures .FFIc1 up 0.4 percent ahead of the cash market open.* ASOS: British online fashion retailer ASOS ASOS.L narrowly beat forecasts with a 28 percent rise in 2017-18 profit, maintained guidance for its ne...Read More
Oct 17 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 27 points higher at 7,087 on Wednesday, according to financial bookmakers.* BHP: The world's biggest miner, BHP BLT.L BHP.AX , said on Wednesday its first-quarter iron ore production rose 8 percent on strong Chinese demand for high-grade ore, but cut its fiscal 2019 guidance for copper production, citing outages at key mines. ANG...Read More
Fastmarkets MB's nickel premiums were stable across all regions in the week to Tuesday October 16 in quiet trading conditions after the London Metal Exchange Week. Premiums in China were steady due to a closed import window and stock overhang. European premiums were unchanged following the annual gathering of the metals market in London for LME Week. Nickel premiums in the United Stat...Read More
The Turkish deep-sea scrap market remained silent again on Tuesday October 17, but a rise in the value of the Turkish lira and market rumors about changes to US import tariffs helped prices, according to market participants.The Turkish lira has continued to pick up this week, and was trading at TRY100 to $17.38 on October 17, up from TRY100 to $17.01 on October 15, according to Oanda.com.No deep-s...Read More
A United States senator has introduced bipartisan legislation in the country's senior legislative body, the Senate, that would allow more oversight of price reporting and price-setting entities that operate in the aluminium markets.The legislation was promoted by Cory Gardner, a Republican Party member from the state of Colorado. It builds on a bill introduced into the lower House of Representativ...Read More
Comex copper prices were slightly higher in morning trading on Wednesday October 17 with a rising dollar preventing any significant gain.The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 0.60 cents to $2.7855 per lb. "We are seeing very quiet conditions in metals so far this week; yesterday ended in a mixed...Read More
Tin premiums were flat across the board in the week to Tuesday October 16, even with the threat of restricted supply from major tin producer Indonesia hanging over the market. European premiums steady at 19-month low US premiums move sideways in slow market China premiums flat amid weak smelter demand European premiums hold ground despite production threat The premium for 99.9% s...Read More
Alcoa intends to shut down its Spanish aluminium smelting operations at La Coru??a and Avil?(C)s, citing the plants as being the least productive within the Alcoa system due to structural issues. The two plants have a combined production of 180,000 tonnes per year - producing primary aluminium, billet and slabs. La Coru??a and Avil?(C)s also have a combined idle capacity of 53,000 tpy. "Structural...Read More
The latest metal markets news and price moves to start the North American day on Wednesday October 17.Base metals prices on the London Metal Exchange were mostly higher during morning trading, with aluminium shrugging off another huge delivery into LME-listed warehouses.Over 92,000 tonnes of aluminium was delivered into warehouses in Asia this morning - with the majority arriving in Port Klang.&nb...Read More
Several zinc and lead mining and smelting companies have been targeted for secondary sanctions by the United States Treasury over alleged ties to paramilitary organizations. Companies including Bandar Abbas Zinc Production Co, Calcimin, Iran Zinc Mines Development Co and Qeshm Zinc Smelting and Reduction Co - all producers of zinc concentrates and ingots - have been targeted. These organizations a...Read More
The latest news and price moves to start the Asian day on Thursday October 18.Base metals prices on the London Metal Exchange were mostly trading lower at the close on Wednesday October 17, with sentiment in the market weakening although zinc continued to outperform. Read more in our live futures report.Here are how prices looked at the close of trading:Concerns are mounting over the potential hal...Read More
Turkey's Tosyali Holding is to invest in the construction of a rebar and wire rod mill in Senegal, in western Africa.Tosyali signed a Memorandum of Understanding (MoU) with Senegal's ministry of mines and geology during the second Turkey-Africa Economic & Business Forum in Istanbul on Wednesday October 10.Once a location is decided, Tosyali will lay the foundations for the plant by the end of 2018...Read More
The number of new passenger car registrations in the EU dropped massively in September 2018, going down by 23.53% year-on-year.New car sales in Europe totaled 1,091,220 units in September, compared with 1,427,013 vehicles sold in the corresponding month of 2017, the European Automotive Manufacturers Assn (ACEA) said on Wednesday October 17."This [drop in sales] should not come as a surprise, becau...Read More
European prices for mesh-quality wire rod were flat across the Northern and Southern parts of the continent on Wednesday October 17, with buyers still unwilling to commit to large-volume deals.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe were ?,?535-560 ($620-648) per tonne delivered on Wednesday. Both assessments were unchanged week...Read More