An attempt by commodities conglomerate Vedanta Resources to acquire bankrupt Indian pipemaker Electrosteel Steels has been delayed after a challenge from another steelmaker, industry sources told Metal Bulletin on Tuesday April 3.Vedanta announced in a filing to the Bombay Stock Exchange (BSE) on March 31 that it had been chosen as the successful applicant by the committee of creditors for Electro...Read More
Australian miner Admiralty Resources will invest around $70 million in developing the Mariposa iron ore project in Chile's northern Atacama region, now that approval has been granted by national environmental agency SEA.The company intends to produce 771,000 tonnes per year of iron ore, with an iron content of about 65%, for an 18-year period, an SEA report...Read More
Anglo American's Minas-Rio iron ore operations in Brazil are expected to remain suspended for approximately 90 days while the miner carries out a full inspection following a pipeline leak last week."Due to the length of the pipeline and ensuring the protection of the natural environment, the current expectation is that it will take approximately 90 days for the full inspection to be completed, dur...Read More
Seaborne iron ore prices weakened slightly on Tuesday April 3 amid a subdued futures market, though buying interest appears to have increased. Metal Bulletin 62% Fe Iron Ore Index: $63.76 per tonne cfr Qingdao, down by $2.04 per tonne Metal Bulletin 58% Fe Premium Index: $52.09 per tonne cfr Qingdao, down by $0.40 per tonne Metal Bulletin 65% Fe Iron Ore Index: $81.50 per tonne cfr Qingd...Read More
Warnings that a cyclone could intensify off the coast of Queensland dominated sentiment in the seaborne coking coal market on Tuesday April 3, even as trading activity was robust. Metal Bulletin's cfr China premium hard coking coal index was up $0.88 per tonne to $196.66 per tonne, while the hard coking coal index was flat at $188.41 per tonne. Metal Bulletin's premium hard coking coal f...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreRio Tinto, tender, 190,000 tonnes of 61% Fe Pilbara Blend fines, sold at $62.79 per tonne cfr China, laycan April 13-22 (last traded at...Read More
Base metals broker Jan Rommer has left Toyota Tsusho Metals and retired as of March 29, Metal Bulletin has learned.The Swedish veteran's career in the metals industry began in 1980 at Rudolf Wolff Limited, the German metals merchant company that was a founding member of the London...Read More
Trading activity in China's hot-rolled coil market continued at a sluggish pace on Tuesday April 3 with both buyers and sellers waiting for a clearer pricing trend to emerge.DomesticEastern China (Shanghai): 3,850-3,880 yuan ($613-618) per tonne, widened downward by 10 yuan per tonneNorthern China (Tianjin): 3,840-3,870 yuan per tonne, widened downward by 10 yuan per tonneHRC prices widened downwa...Read More
Base metals prices on the London Metal Exchange are for the most part stronger this morning, Tuesday April 03, with prices up by an average of 0.7%. Copper, aluminium and nickel lead the advance with gains averaging 1.1% - with copper at $6,811 per tonne, followed by tin and zinc that are up by 0.7% and 0.3% respectively, while lead is bucking the trend with a 0.1% decline.Volume has been high wit...Read More
Aluminium Carry Call – BUY Aluminium at CMP 131.25 for Target 132.25 – 132.75 with SL below price 130.20AFTER POST CONTENT Read More
ONLINE NICKEL TIPS TODAYOnline Nickel Tips – Nickel Mcx Carry Buy call 398 given at 877 CMP 882. Low risk taker book 5 Point x 2 lot = 10 PointsTIPS ID 398 : Nickel Carry Call - BUY Mcx Nickel at CMP 877.0 for Target 886 - 892 with SL below price 867. High Risk taker trade 2 lotsAFTER POST CONTENT Read More
Tips for Copper – SELL Copper at CMP 439.80 for Target 436.80 – 434.80 with SL Above price 444AFTER POST CONTENT Read More
Nickel Carry Call – BUY Mcx Nickel at CMP 877.0 for Target 886 – 892 with SL below price 867. High Risk taker trade 2 lotsAFTER POST CONTENT Read More
Lead Commodity Tips – Lead Mcx Sell call 37d given activated at 156.90. CMP 156.30. Low risk taker book 0.60 x 2 lot = 1.20 Points / Rs 600037d : Mcx Lead Call – SELL Lead if price 156.90 (CMP 157.25) for Small Target 156 – 155.50 with SL Above price 158.10. RISK Taker trade 2 lotsAFTER POST CONTENT Read More
(Kitco News) - After Monday’s rally, gold prices still have more upside and could soon be testing $1,360 an ounce, TD Securities said in a report.“Flat curve, waning yields and equity angst suggest upside remains for gold,” the bank’s head of commodity strategy Bart Melek wrote on Monday.Gold prices saw a significant jump on Monday amid a major equities’ selloff, risi...Read More
According to the Oxford dictionary, a trade war is “a situation in which countries try to damage each other's trade, typically by the imposition of tariffs or quota restrictions.”The tariffs imposed by President Trump on steel and aluminum imports and the response by the Chinese government of tariffs to be levied on U.S. goods is an exact match to the definition of a trade war. Whateve...Read More
NEW YORK (Reuters) - Bitcoin, the highly volatile digital currency, is proving to be the new stock market indicator, influential investor Jeffrey Gundlach said on Monday, adding that this is hardly just a “gut feeling” given the recent price movements.“Bitcoin closed at the low of the year last week, SPX (Standard & Poor’s 500 Index) is now at the low of the year this w...Read More
NEW YORK (Reuters) - Amber Baldet, a blockchain program lead at JPMorgan Chase & Co (JPM.N), is leaving the bank to launch her own venture, JPMorgan said on Monday.Baldet, one of the best-known executives focused on blockchain at a major lender, led JPMorgan’s Blockchain Center of Excellence and helped the bank set its strategy for the nascent technology.Baldet will be replaced by Christ...Read More
Mcx Lead Call – SELL Lead if price 156.90 (CMP 157.25) for Small Target 156 – 155.50 with SL Above price 158.10. RISK Taker trade 2 lotsAFTER POST CONTENT Read More
(Kitco News) - Gold is likely to be bolstered by a falling U.S. dollar, which is under pressure despite rising bond yields, according to a U.K.-based research firm.Gold rallied Monday in part because of a weakened U.S. dollar. June gold futures settled the day at $1,346.9, up 1.5% on the day.In a recent report, analysts at CrossBorder Capital said that a growing U.S. government deficit is likely t...Read More