MUMBAI, Nov 20 (Reuters) - The Reserve Bank of India's decision to allow lenders more time to adhere to additional capital buffer norms under Basel 3 is credit negative for the country's state-run banks, Moody's Investors Service said in a release on Tuesday.The RBI after a nine-hour marathon board meeting announced late Monday that it has extended the timeline for Indian banks to set aside an add...Read More

Investing.com - Gold prices were on track for a sixth-straight session of gains on Tuesday as a string of dovish remarks from Federal Reserve policymakers and an equity selloff supported the precious metal.At 9:13 AM ET (14:13 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange edged forward $1.10, or 0.09%, to $1,226.40 a troy ounce.The recent winnin...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

Investing.com - Gold prices were little changed on Tuesday even after New York Fed President John Williams (NYSE:WMB) said the Federal Reserve “will be likely raising interest rates somewhat.”Gold futures for December delivery on the?EUR?Comex?EUR?division of the New York Mercantile?EUR?Exchange traded 0.08% lower at?EUR?$1,224.3?EUR?a troy ounce by?EUR?1:34 AM ET (06:34 GMT).?EUR??EUR...Read More

Chrome ore and alloy prices continued to trend lower in China on Friday November 16 on thin market activities and lingering weak sentiment, while the European and US markets continued to suffer from increased seller competition amid subdued demand conditions. UG2, charge chrome prices soften on thin trading, bearish sentimentChinese domestic market holds flat amid inactivityKorean prices slide on...Read More

Turkish steel mills have continued to hold back from making deep-sea scrap purchases due to fear of product outflow from China, sources said on Tuesday November 20.Chinese rebar is widely expected by market participants to be offered in increasing amounts in the near term while its domestic market softens. This will soon affect prices all over the world, including Turkish scrap import prices,...Read More

The latest news and price moves to start the Asian day on Wednesday November 21.Base metals prices on the London Metal Exchange were mostly lower at the close of...Read More

The Comex copper price continued lower in in the US morning on Tuesday November 20, with the rising dollar pressuring the entire commodities sector.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 3.25 cents to $2.7665 per lb."We continue to expect a strong rebound in copper prices by the end of 2018 principally because investors are likely to...Read More

The company has completed the Chinese State Administration of Foreign Exchange (SAFE) registration, a three-pronged process that took place over the past two months.Nevsun said Tuesday the SAFE registration was the last Chinese regulatory condition which, together with Investment Canada Act approval received last month, rendered both regulatory conditions met.According to Nevsun, which operates th...Read More

Copper prices will recover if the trade war between the United States and China does not escalate at next week's G20 summit, the head of China commodities strategy from Citi Group said during a panel discussion at Asia Copper Week on November 14. The impact of the US-China trade war has been priced into current copper prices, according to Citi Group's Tracy Liao who also took a cautiously optimist...Read More

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Vedanta unit Sterlite Copper intends to ship a portion of its copper concentrate inventories accrued before it declared force majeure in April, sources with knowledge of the situation told Fastmarkets. Sterlite has offered 15,000 tonnes of Cerro Verde copper concentrates for November or December shipment, several sources privy to the dealings said. The company's Tuticorin smelter was shut dow...Read More

Spot copper concentrate treatment and refining charges (TC/RCs) dropped in mid-November, with traders starting to purchase units for the first quarter of 2019 at lower numbers. Fastmarkets' copper concentrate index dropped by $0.60 per tonne / 0.6 cents per lb to $86.80 / 8.68 cents on Thursday November 15. Spot market trade was limited ahead of and during Asia Copper Week in Shanghai where b...Read More

Robert Morris, Vale's sales and marketing director for the base metals business, is retiring from the company at the end of 2018, according to an internal note from the miner to its managers. Brent Rochon, who is vice president for marketing and sales of copper and intermediates, and nickel for Europe and Americas regions, will take on Morris' duties in the interim. Morris has worked for Vale sinc...Read More

The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDGHot-rolled coilChina, export, hot-rolled coil, offered at $540-550 per tonne cfr, to Saudi Arabia.Ukraine, export, hot-rolled coil, traded at $520-530 per...Read More

Flat steel import prices in Saudi Arabia and the United Arab Emirates (UAE) have tumbled over the past seven days by $20-55 per tonne due to weak demand and lower offer and deal prices, sources told Fastmarkets on Tuesday November 20.UAEAbout 5,000 tonnes of hot-rolled coil (HRC) from Ukraine was booked at $520-530 per tonne cfr.Chinese material, meanwhile, was on offer to the UAE at $510-520 per...Read More

Domestic rebar producers in the United Arab Emirates (UAE) have announced new prices for December production, although imported rebar prices remained stable over the past week.Steel billet prices, meanwhile, were unchanged because the rebar producers in the UAE have enough stock to last for more than one month, sources told Fastmarkets on Tuesday November 20.Domestic rebarThe country's biggest pro...Read More

The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebarUAE, domestic (Emirates Steel), rebar, offered at 2,016 dirhams ($549) per tonne ex-works, December...Read More

The latest metal markets news and price moves to start the North American day on Tuesday November 20.Base metals on the London Metal Exchange were predominantly lower during morning trading, with most metals trading in narrow ranges while global trade tensions and depleting LME stocks deter investors. Here is how the LME base metals complex looked at 11.45am London time:For a snapshot of exchange...Read More

Steel traders in Asia have been feverishly short-selling their cargoes in recent weeks due to the bearish sentiment in the Asian market, with back-to-back offers for steel products often accompanied by short-selling offers at a wide discount to mill cargoes.These discounts can reach up to $15 per tonne, which indicate the additional price falls that traders expect when short-selling cargoes. Buyer...Read More