(Adds details on arrests)By Sudarshan VaradhanTHOOTHUKUDI, India, June 20 (Reuters) - Vedanta Ltd VDAN.NS said on Wednesday a sulphuric acid leak from a tank at its southern Indian copper smelter was severe and inaction could lead to serious environmental consequences.The district administration had said on Sunday the leak at the plant in the seaside town of Thoothukudi was minor, and steps were b...Read More
* MSCI World index snaps 5-day losing streak as Asia bounces* China markets reverse losses on indications of policy support* European shares higher, futures signal Wall Street will rise* Tentative gains on emerging currencies, stocks(Updates prices, adds chart)By Sujata RaoLONDON, June 20 (Reuters) - World stocks steadied near three-week lows on Wednesday and Chinese markets bounced after recent s...Read More
By Sudarshan VaradhanTHOOTHUKUDI, India, June 20 (Reuters) - Vedanta Ltd VDAN.NS said on Wednesday a sulphuric acid leak from a tank at its southern Indian copper smelter was severe and inaction could lead to serious environmental consequences.The district administration had said on Sunday the leak was minor, and steps were being taken to empty the storage tanks as a safety precaution. is a severe...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up 1 pct, mid caps up 0.8 pct* Brexit talk concerns send pound to 7-month low* Berkeley falls after warning on profit slump* Miners provide support as metal price riseBy Danilo MasoniMILAN, June 20 (Reuters) - The UK's top share index rose on Wednesday in a broad-based rebound in Europe as immediate worries over the...Read More
(Adds company news items and futures)June 20 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 15 points higher at 7,619 on Wednesday, according to financial bookmakers, with futures FFIc1 up 0.66 percent ahead of the cash market open.* BERKELEY: London-focussed builder Berkeley BKGH.L posted a better-than-expected 15 percent rise in pretax profit to 935 million pounds ($1.23 billion) but...Read More
Jun 20 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India ( CRISIL (NS:CRSL)) for local debt instruments as of June 19, 2018. COMPANYINSTRUMENTRATINGAMOUNT MOVEMENT(RS.MLN) --------------------------- --------- SHORT TERM RATINGS: ------------------- Aaditya ConstructionBGCRISIL A4108Migrated (Issuer Not Cooperating) Acute DesignsBGCRISIL A480Reaffirmed Anjana...Read More
The latest news and price moves to start the Asian day on Thursday June 21.Zinc prices on the London Metal Exchange settled at their lowest level in nine months at the close of trading on Wednesday June 20, while copper prices continued to edge lower on a surging United States dollar index. Read more in our live futures report.Here are how prices looked at the close of trading:The Europe...Read More
LEGAL DISCLOSUREPast performance is no guarantee of future results. Statements made in this presentation represent the opinions of the participants as of the date of the presentation and may not represent the opinions of Sprott U.S. Holdings, Inc. and its affiliates. The information discussed herein is subject to change without notice. Any forward looking statements or forecasts are based on assum...Read More
Gold has pulled back sharply in recent weeks to be trading well below the psychologically important US$1,300-an-ounce barrier to be at its lowest price since late December 2017. This has triggered a sell-off of gold stocks, with many junior gold miners having fallen sharply since gold's dramatic decline. This has caused the VanEck Vectors Junior Gold Miner ETF (NYSE:GDXJ) to fall by 8% for the yea...Read More
The UK's Office for Nuclear Regulation (ONR) has published its annual report highlighting the extent of its regulatory activities. These included more than 1000 inspections, design acceptance confirmation for a new reactor, ongoing modernisation of its regulations, and its participation in the first European topical peer review on ageing management of nuclear power plants.The more than 1000 inspec...Read More
Zinc prices on the London Metal Exchange fell more than 2% by the close of trading on Thursday June 21, while sister-metal lead struggled to find support amid intensified trade war uncertainties between China and the United States. Falling further from the $3,000 per tonne support level, zinc's three-month price reached a daily low of $2,912 per tonne during the afternoon."Zinc is under significan...Read More
Finnish stainless steelmaker Outokumpu's alloy steel surcharges for July deliveries of grade-304 cold-rolled (CR) stainless steel sheet have risen for the sixth consecutive month, the company's website announced on Thursday June 21.The company's July alloy surcharge for 2mm grade-304 CR stainless steel sheet is ?,?1,647 ($1,907) per tonne, a sharp increase from its June surcharge of ?,?1,527 per t...Read More
Comex copper prices traded in negative territory on Thursday June 21 morning in the United States, with threats of an impending trade war between the US and China hanging over the market.Copper for July settlement on the Comex division of the New York Mercantile Exchange inched down 0.70 cents or 0.3% to $3.0330 per lb. The contract is now on a six-day losing streak."Copper has started to consolid...Read More
Craig "Turd Ferguson" Hemke (TF Metals Report) invited me to discuss the possibility that global financial system, including and especially the U.S. financial system is heading into another black hole like 2008. In this conversation we discuss the signs that are pointing in this direction. (To download, right click and "save as")http://investmentresearchdynamics.com/wp-content/uploads/2018/0...Read More
Unusually quiet trading activity in molybdic oxide and alloys markets has pressured down prices in Europe so far this week, with the prospect of further falls if emerging offer prices for oxide are accepted and while steelmakers appear reluctant to buy alloys in a weakening market, sources said. Metal Bulletin assessed European molybdic oxide prices at $11.10-11.20 per lb in-warehouse Rotterd...Read More
Uncertainties in the Chinese stainless steel market, caused by environmental inspections in the downstream supply chain, were the focus of discussions on nickel's price in the second half at the Shanghai nickel forum held by COFCO Futures on Wednesday June 20. Nickel prices volatile in short term, bullish long term Panelists at the Shanghai forum were mainly positive about nickel prices in the lon...Read More
Uncertainties in the Chinese stainless steel market, caused by environmental inspections in the downstream supply chain, were the focus of discussions on nickel's price in the second half at the Shanghai nickel forum held by COFCO Futures on Wednesday June 20. Nickel prices volatile in short term, bullish long term Panelists at the Shanghai forum were mainly positive about nickel prices in the lon...Read More
UC Rusal has restarted its Friguia alumina refinery in Guinea more than six years after production was halted, the company said on Thursday June 21. Friguia has an annual nameplate capacity is 650,000 tonnes of alumina and 2.1 million tonnes of bauxite. Rusal reached agreements with the Republic of Guinea, which provide for the ramp up of production up to 550,000-600,000 tonnes of alumina per year...Read More
Spot copper concentrate treatment and refining charges (TC/RCs) jumped up sharply in the first half of June after smelters overcame resistance from traders and miners to sell at higher levels. Metal Bulletin's copper concentrates TC/RC index shot up by $5.40 per tonne/0.54 cents per lb over the past two weeks to $77/7.7 cents on Friday June 15 - its highest level since January, when the index norm...Read More
Metal Bulletin is seeking market feedback on a proposal to publish an all-in price assessment for Chinese cobalt sulfate alongside its existing price assessment for cobalt sulfate, 20.5% min Co, ex-works China. The discount/premium structure of the existing price assessment published as a $ per lb adjustment to the low end of Metal Bulletin's benchmark low-grade cobalt price assessment, launched o...Read More