(Bloomberg) - An iPhone assembler, e-commerce emporium and real-estate developer typically don't compete in the same business - except when it comes to electric vehicles in China.That's because of a seismic shift toward EVs, which has spurred billions of dollars in investments by traditional carmakers, startups and titans of the internet, electronics and real-estate industries. The rush is on even...Read More
Australian miner South32 Ltd on Thursday reported a 37% fall in its third-quarter coking coal production compared to the previous quarter.Production of coking coal or metallurgical coal, a key steel-making ingredient, fell to 990 kilo tonnes during the March quarter from 1.6 million tonnes in the second quarter, but beat a Goldman Sachs estimate of 784 kilo tonnes by a large margin.(Reporting by R...Read More
Despite a widely held view that gold should be trading north of $1,400 this year, since the February peak well short of that target, prices have gone in the other direction.Gold mining stocks have fared slightly better after a flurry of mergers and acquisitions at the top end rekindled interest in the sector despite the lacklustre performance of the metal and all those burnt fingers from the M&A f...Read More
Despite a widely held view that gold should be trading north of $1,400 this year, since the February peak well short of that target, prices have gone in the other direction.Gold mining stocks have fared slightly better after a flurry of mergers and acquisitions at the top end rekindled interest in the sector despite the lacklustre performance of the metal and all those burnt fingers from the M&A f...Read More
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We delivered another big improvement to Canadian Insider this month. We now provide intra-day updates on insider filings for Canadian stocks. While insider filings for US companies were always updated right away, Canadian updates were previously only available overnight. Going forward, thanks to an enhanced data feed, we will be updating the website with Canadian filings every hour.Join the CIN C...Read More
Bearish sentiment on LME-traded base metals pervaded the market throughout trading on April 18 with the majority of the complex continuing to trade down at the end of the trading day. Pessimism continued to mount on the back of weak European PMI data throughout the day's trading, dissipating any of the previous day's bullish sentiment on the basis of positive Chinese economic data. Suppressed appe...Read More
Mining-and-metals company South32 has revised its alumina production guidance down due to a de-bottlenecking initiative, it said in its third-quarter financial year report on Thursday April 18.The company reduced production guidance at its Worsley alumina facility in operation by 4% to 3.79 million tonnes to, "support a sustainable increase in production-to-nameplate capacity ahead of future de-bo...Read More
The US copper market failed to hold onto Wednesday's gains amid a surging dollar, which weighed on the base metals complex.The copper price for May settlement on the Comex division of the New York Mercantile Exchange dipped 4.20 cents to $2.9255 per lb.At last glance, the dollar index was at 97.32, up 0.32% and above the psychological level of 97. The red metal has been unable to set a clear price...Read More
Mining-and-metals company South32 has revised its alumina production guidance down due to a de-bottlenecking initiative, it said in its third-quarter financial year report on Thursday April 18.The company reduced production guidance at its Worsley alumina facility in operation by 4% to 3.79 million tonnes to, "support a sustainable increase in production-to-nameplate capacity ahead of future de-bo...Read More
Alcoa's revenue for the first quarter of 2019 was $2.7 billion, down 19% from the fourth quarter of 2018, due to lower alumina and aluminium prices.The producers adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) excluding special items for the first quarter between January and March 2019 stood at $467 million, a 39% decrease from the previous quarter. "We improved ou...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average got a lift from a strong U.S. retail sales report and mostly better-than-expected earnings. Honeywell (HON - Get Report) traded higher after posting stronger-than-expected first-quarter earnings and raising its full-year outlook. American Express (AXP - Get Report) nearly 2% after...Read More
A summary of MMG's production results for the three months ended March 31, 2019, as well as its full-year production guidance.In brief Australia-headquartered miner MMG's contained copper in concentrate production grew by 16% in the first three months of 2019 compared with the same period a year earlier due to an improved performance at the company's Las Bambas mine in Peru.Contained copper in con...Read More
South32 has reported record year-to-date manganese ore output in the current 'favorable' market and has increased its 2019 annual production guidance by 4% in both Australia and South Africa.The miner reported 4.25 million tonnes of total manganese production for the nine months of the 2019 financial year beginning in June 2018, up 1% year on year. For the January-March third quarter, product...Read More
The Chinese domestic indium price dropped by 4% week on week on Wednesday April 17 in response to news that the Fanya Metal Exchange will again auction 34.64 tonnes of the indium stock it holds in its warehouse, after the first auction in January failed to attract any bidders. The stock will be auctioned via Alibaba judicial online platform at 10am Beijing time on April 24 and 10am Beijing time on...Read More
Global ferrous scrap prices rebounded in the week to Thursday April 18 on returning demand from Turkish steel mills. Export prices on the United States' East Coast moved up as a result.But demand was limited in the key import market of Vietnam due to a mill stoppage, while Taiwanese steel mills remained well-stocked. Turkey demand returns US market picks up on East Coast Mill stoppage in Vietnam d...Read More
Austenitic alloy steel scrap prices in the UK increased in the week ended Thursday April 18 because of higher demand this month compared with the first quarter of the year, and despite lower nickel prices.Another supporting factor was the concessions given by stainless steel mills during April for the price paid for the nickel component of the metal.Traders said that further concessions in May wer...Read More
Turkish steel producers have gone through Thursday without making any deep-sea scrap purchases, because the political situation in the country has changed and the value of the country's lira has become more volatile, sources said on Thursday April 18.Turkey's supreme committee of elections (YSK) has declared opposition candidate Ekrem Imamoglu the winner of the recent mayoral election in Istanbul,...Read More