JOHANNESBURG, Nov 12 (Reuters) - South Africa's rand wasweaker on Monday, with yield-seeking investors continuing toback the dollar and move out of riskier emerging-market andequity assets dampened by signs of softening demand in China andrate tightening by the Federal Reserve. * At 0650 GMT, the rand was 0.56 percent weaker at14.4000 per dollar, buckling from a two-month best of 13.8700last week,...Read More
Gold is stationary in Asia on Monday as the markets consolidate with a US holiday to get through before key events such as US CPI will hit the slate. Gold has been suffering on higher US rates and the recent Fed comments which have been supporting the upside bias in the dollar. Gold has been underwater of late, falling from the early November highs at $1,243 and landing al the way down thr...Read More
As the ferro-alloys community prepares to gather in Lisbon for a busy few days of meetings and contract negotiations, Fastmarkets outlines some of the key topics likely to dominate discussions at this year's International Ferro-alloys Conference, on November 11-13.Is the ferro-vanadium mating season nearing completion?What promises to be a busy few days in Lisbon for purveyors of ferro-alloys may...Read More
As the ferro-alloys community prepares to gather in Lisbon for a busy few days of meetings and contract negotiations, Fastmarkets outlines some of the key topics likely to dominate discussions at this year's International Ferro-alloys Conference, on November 11-13.Is the ferro-vanadium mating season nearing completion?What promises to be a busy few days in Lisbon for purveyors of ferro-alloys may...Read More
Prices for steel billet showed mixed trends in the various global trading regions in the week ended Friday November 9, increasing in the CIS, Turkey and Egypt, while falling in Iran and China.The current high level of scrap prices in Turkey led to higher procurement of billet and improved sentiment among steelmakers in the Commonwealth of Independent States.Fastmarkets' daily index for Northern Eu...Read More
European stainless steel market participants were losing confidence that the market will recover early in the New Year, they told Fastmarkets on Friday November 9, with transaction prices falling further this week.Transaction prices for grade-304 cold-rolled (CR) stainless sheets were assessed at ?,?2,150-2,200 ($2,454-2,511) per tonne delivered on Friday, down by ?,?30-60 per tonne from ?,?2,180-...Read More
China's finished steel exports were up by more than 10% year on year in October, but fell when compared with September's volumes, according to preliminary Chinese customs data published on Thursday November 8.The country exported 5.5 million tonnes of finished steel in last month, up 10.4% from the 4.98 million tonnes shipped out in October 2017, according to the customs data. October shipmen...Read More
Latin American steel association Alacero has appointed M??ximo Vedoya as its new president on Wednesday November 7.Vedoya, who is the chief executive officer of Latin American steel group Ternium, will lead the association...Read More
Prices for steel billet showed mixed trends in the various global trading regions in the week ended Friday November 9, increasing in the CIS, Turkey and Egypt, while falling in Iran and China.The current high level of scrap prices in Turkey led to higher procurement of billet and improved sentiment among steelmakers in the Commonwealth of Independent States.Fastmarkets' daily index for Northern Eu...Read More
London Metal Exchange members are considering a multitude of ways to continue to service their EU clients in the event that a financial services deal is either not forthcoming or does not go far enough when the UK finally leaves the European Union. Some companies have even told their LME sales teams they need to be prepared to move to another major European city to be able to legally service their...Read More
If Brexit - the departure of the United Kingdom from the European Union on March 29, 2019 - isn't on your radar, it should be. With the annual London Metal Exchange Week now in full swing, the exchange, its members and their customers need to have contingency plans in place if they are expecting to be affected in any way by Brexit. And as with anything political, an element of brinkmanship will na...Read More
When the London Metal Exchange finished its 12-step warehouse reform package, it proved once more that you cannot please all of the people all of the time. It faced some inevitable criticism of the rules, in particular that the LME went too far in certain areas and should consider tweaking or rolling back some of its reforms. In particular, the focus of attention was on the load-in, load-out (LILO...Read More
Investing.com - Oil traders are likely to stay fixated on rising global crude supplies in the week ahead, after prices suffered their fifth straight weekly loss and plunged into bear market territory.Global oil prices are down by around 20% since early October, buffeted by signs of growing output from key producers, mainly the U.S., Saudi Arabia and Russia, and indications of a global economic slo...Read More
Investing.com - This week precious metals traders will be focusing on U.S. inflation data after the Federal Reserve indicated that it is on track to hike interest rates again in December and early next year.Wednesday’s inflation data is expected to show that U.S. consumer prices rose in October. Investors will get another update on the health of consumers from Thursday’s retail sales n...Read More
* Falling oil prices stock growth worries* Industrial, material shares suffer on China growth worries* U.S. producer prices rise more than expected in October* Tobacco shares fall on e-cigarette restriction worries* Indexes down: Dow 0.77 pct, S&P 500 0.92 pct, Nasdaq 1.65 pct (Updates to close, adds commentary)By Sinéad CarewNEW YORK, Nov 9 (Reuters) - Wall Street's three major stock i...Read More
Nov 12 (Reuters) -For other diaries, please see:Top Economic EventsM/DIARYEmerging Markets Economic Events EMRG/DIARYGovernment Debt AuctionsD/DIARYPolitical and General NewsPOL/DIARYU.S. Federal ReserveFED/DIARYToday in WashingtonWASH/DIARY ----------------------------------------------------------- This Diary is filed daily. ** Indicates new events -----------------------------------------------...Read More
The steel scrap sector in the United States still depends on exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London.This dependence persists despite the changes in the international markets created by the US' imposition of its Section 232 tariffs on imports of steel products, metals analyst Le...Read More
As the ferro-alloys community prepares to gather in Lisbon for a busy few days of meetings and contract negotiations, Fastmarkets outlines some of the key topics likely to dominate discussions at this year's International Ferro-alloys Conference, on November 11-13.Is the ferro-vanadium mating season nearing completion?What promises to be a busy few days in Lisbon for purveyors of ferro-alloys may...Read More
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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