Investing.com - Gold prices dropped on Tuesday in Asia while the dollar also slid. Traders will take cues from Federal Reserve Chairman Jerome Powell’s speech on Wednesday to see which direction the precious metal will go.Gold futures for February delivery on the?EUR?Comex?EUR?division of the New York Mercantile?EUR?Exchange traded 0.05% lower at?EUR?$1,228.2?EUR?a troy ounce by?EUR?10:29 PM...Read More
The share of basic oxygen furnace (BOF)-based steel production in Asia may increase from 2019 onward, even as more integrated mills are commissioned in the region. There are at least six new BOF-based steelmaking projects in China and Southeast Asia which are either in development stages or will fire their blast furnaces between 2018 and 2023, according to World Steel Association head of technolog...Read More
The golden era of the Vietnamese steel markets is coming to an end.After a decade of rapid growth, market participants are expecting steel demand in Vietnam to continue to taper off next year after peaking in 2017."We do not expect to see the kind of phenomenal growth for downstream steel products in both the domestic and export markets from 2019," a director in charge of flat steel exports at a V...Read More
Base metals prices on the London Metal Exchange were lower at the close of trading on Tuesday November 27, with tin's three-month price hitting its lowest point since August 2016 amid strength in the dollar index. Reaching an intraday low of $18,215 per tonne, tin futures have fallen more than 7.3% from the November 19 high of $19,700 per tonne. The metal's LME price remains broadly impervious to...Read More
Comex copper prices remained under-pressure Tuesday morning in the US amid reduced trading activity, a stronger dollar and anticipation over Chinese and US leaders' meeting in Argentina later this week.The copper price for December settlement on the Comex division of the New York Mercantile Exchange in the United States declined 2.40 cents to $2.7315 per lb. Ahead of the G20 meeting in Argent...Read More
Seaborne coking coal prices softened further on Tuesday November 27, with participants staying on the sidelines amid a weakening steel market in China."The billet price in China [tumbled] during the day. It has fallen by 800-900 yuan ($115-130) per tonne since the first [working day] of November. The situation doesn't bode well for coking coal prices," a Chinese trading source said. Fastmarkets' d...Read More
* Saudi Arabia expected to push for OPEC supply cut* Sino-U.S. trade war to dominate G20 gathering* U.S. crude oil stocks rose 3.5 mln bbls last week -API (Adds API data)By Stephanie KellyNEW YORK, Nov 27 (Reuters) - Oil prices dipped on Tuesday, weighed down by uncertainty over the U.S.-China trade war and signs of increased global crude production, but losses were limited by expectations that cr...Read More
* NSE index up 0.54 pct, BSE 0.45 pct higher* F&O expiry on ThursdayNov 27 (Reuters) - Indian shares ended higher for a second consecutive session on Tuesday, mirroring the previous session's move of a surge in the last two hours, ahead of the expiry of futures and options contracts later this week.The benchmark BSE index .BSESN closed up 0.45 percent at 35,513.14.The broader NSE index .NSEI e...Read More
(New throughout, updates prices, market activity and comments)* Dollar rises to nearly two-week high* Silver, platinum fall to lowest in nearly two weeks* GRAPHIC-2018 asset returns: http://tmsnrt.rs/2jvdmXlBy Swati VermaNov 27 (Reuters) - Gold fell on Tuesday to its lowest in more than a week, as the dollar rallied after comments from U.S. Federal Reserve Vice Chair Richard Clarida bolstered expe...Read More
* Dow, S&P end up with Nasdaq flat* United Tech decline weighs on Dow* Materials weak; defensives outperformNov 27 - Welcome to the home for real-time coverage of U.S. equity markets brought to you by Reuters stocks reporters and anchored today by Chuck Mikolajczak. Reach him on Messenger to share your thoughts on market moves: charles.mikolajczak.thomsonreuters.com@reuters.netDOW, S&P CLO...Read More
* Dow, S&P up with Nasdaq flat as Apple pares losses* United Tech decline weighs on Dow* Materials weak; defensives outperformNov 27 - Welcome to the home for real-time coverage of U.S. equity markets brought to you by Reuters stocks reporters and anchored today by Chuck Mikolajczak. Reach him on Messenger to share your thoughts on market moves: charles.mikolajczak.thomsonreuters.com@reuters.n...Read More
* Indexes marginally higher; Apple pares losses* United Tech decline weighs on Dow* Materials, industrials weak; defensives outperformNov 27 - Welcome to the home for real-time coverage of U.S. equity markets brought to you by Reuters stocks reporters and anchored today by Chuck Mikolajczak. Reach him on Messenger to share your thoughts on market moves: charles.mikolajczak.thomsonreuters.com@reute...Read More
* Car makers lead losers* STOXX retreats from one-week high, down 0.2 pct* Thomas Cook (NS:THOM) tanks after another profit warning (Adds quotes, context)By Danilo Masoni and Julien PonthusMILAN, Nov 27 (Reuters) - European shares fell on Tuesday after a new threat by Washington to impose more tariffs on Chinese products and fears the trade war could spread to Europe after a report in Germany of p...Read More
MILAN, Nov 27 (Reuters) - European shares fell in morning deals on Tuesday as the focus turned to possible developments in the Sino-U.S. trade dispute after a fresh threat from Washington to impose tariffs on more Chinese imports, while Thomas Cook (NS:THOM) tanked on a profit warning.The pan-European STOXX 600 .STOXX benchmark was down 0.3 percent by 0822 GMT, pulling back from the one-week high...Read More
(Updates with company news and futures)Nov 27 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 9 points lower at 7,027 points on Tuesday, according to financial bookmakers, with FTSE 100 futures FFIc1 roughly flat ahead of the market open.* OIL: Oil slipped on Tuesday, pulled down by record Saudi Arabian production even as OPEC's top producer pushes for supply cuts ahead of the group's m...Read More
Nov 27 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 9 points lower at 7,027 points on Tuesday, according to financial bookmakers.* OIL: Oil markets were trading cautiously on Tuesday, with mixed signals from top exporter Saudi Arabia ahead of an OPEC meeting in Austria next week. International Brent crude oil futures LCOc1 were down 0.3 percent at $60.30 per barrel as at 0530 GMT. GO...Read More
Europe's largest copper smelter Aurubis has shut three of its four copper smelters for unplanned maintenance, the company acknowledged today.The plants in Hamburg, Pirdrop and Luenen have a combined annual production capacity of 990,000 tonnes or 3.5% of world output.Shares in Aurubis are down by 16% since the smelting company announced yesterday that third-quarter profits would be materially affe...Read More
Comex copper prices remained under-pressure Tuesday morning in the US amid reduced trading activity, a stronger dollar and anticipation over Chinese and US leaders' meeting in Argentina later this week.The copper price for December settlement on the Comex division of the New York Mercantile Exchange in the United States declined 2.40 cents to $2.7315 per lb. Ahead of the G20 meeting in Argent...Read More
The refined tin market, worth around $7.5 billion per year, could be in a position to benefit from a glut of technological applications over the next decade.But if it hopes to become a competitive commodity of choice, market participants have indicated that there is a need for price stability and steadiness in supply flows.According to leading industry specialists who attended the 7th annual Inter...Read More
Global miner Anglo American is optimistic about its copper production in Chile for years to come, it said on Tuesday November 27. The company has raised or tightened upward its output guidance figures for the period from now until 2020.Copper production will be around 660,000 tonnes in 2018, at the higher end of the previous estimate of 630,000-660,000 tonnes, Anglo said. In 2019, output is now ex...Read More