Comex copper prices were little changed during morning trading in the US, with market participants still digesting news of a detente between the US and China.The copper price for March settlement on the Comex division of the New York Mercantile Exchange inched down 1.85 cents to $2.7910 per lb.Over the weekend at the Group of 20 Nations (G20) meeting in Argentina, US president...Read More
Participants in the seaborne coking coal spot market stayed on the sidelines on Tuesday December 4 even as bids on the Global Coal trading platform climbed.A bid for a January-loading shipment in the branded segment was made at $234 per tonne fob Australia on the platform during the day, market sources said. This compares with $230 per tonne fob Australia just a day earlier. "I am not aware of any...Read More
* OPEC works on deal to cut output, still needs Russia on board* Canadian supply cut lends support* Soaring U.S. output is OPEC's biggest headache* Texas oil output more than Iraq, OPEC's No.2 producer -Barclays (Adds API data)By Jessica Resnick-AultNEW YORK, Dec 4 (Reuters) - Oil prices pared gains in volatile trade on Tuesday amid fears that demand would stall due to a trade war between the Unit...Read More
* NSE index down 0.3 pct, BSE index 0.42 pct lower* Election results awaited - analyst* RBI decision on WednesdayBy Tanvi MehtaDec 4 (Reuters) - Indian shares fell on Tuesday tracking weaker sentiment across Asia, as domestic investors remained cautious ahead of election results for some states next week.The result of elections in the states of Madhya Pradesh and Mizoram, among others, are expecte...Read More
* MSCI all world index eases 0.9 percent* European share markets continue selloff* Confusion over timing of trade truce, China commitments* U.S. yield curve inversion raises recession concerns* Dollar weakens, sterling bounces (Updates with open of U.S. markets)By Laila KearneyNew York, Dec 4 (Reuters) - A key gauge of world equity markets fell on Tuesday as hopes faded for a speedy resolution to...Read More
Dec 4 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:** A federal judge who has been asked to sign off on the U.S. government's decision to approve CVS Health Corp's CVS.N acquisition of insurer Aetna Inc (NYSE:AET) said he was "less convinced" than the government that the companies had struck a deal that ensured the merger was...Read More
* FTSE 100 down 0.6 pct, FTSE 250 down 1.3 pct* Top EU court advisor says Brexit could revoke Article 50* Thomas Cook (NS:THOM) hits 6-year low* Gold stocks rally on higher prices* Quarterly reweighting roils some shares (Adds details, closing prices)By Helen Reid and Josephine MasonLONDON, Dec 4 (Reuters) - Concerns about growth, doubts about a U.S.-China trade truce, and a rising pound drove Bri...Read More
Investing.com - Gold prices rose to nearly a five-month high on Tuesday as a continuing decline in the dollar boosted foreign demand for the precious metal, while investors shift attention to the next Federal Reserve policy meeting.At 9:49 AM ET (14:49 GMT), gold futures for February delivery on the Comex division of the New York Mercantile Exchange gained $6.20, or 0.50%, to $1,245.50 a troy ounc...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.4 pct, FTSE 250 down 0.3 pct* Top EU court advisor says Brexit could revoke Article 50* Thomas Cook (NS:THOM) sinks 15 pct to 6-year lowBy Helen ReidLONDON, Dec 4 (Reuters) - Concerns about growth, doubts about a U.S.-China trade truce, and a rising pound drove Britain's top stock index down on Tuesday.The FT...Read More
Import rebar prices in the United Arab Emirates (UAE) went up this week but billet import prices decreased in new deals, Fastmarkets heard on Tuesday December 4.Demand was not strong because stocks were high already, market sources said.Domestic rebarThe country's largest producer, Emirates Steel, was still offering rebar at 2,016 dirhams ($549) per tonne ex-works for December production. Conares...Read More
Market participants held back on trading low-grade manganese ore on fears of further price drops in the run-up to year end, Fastmarkets learned in the latest pricing session in the week ended Friday November 30. Low-grade ore prices slide in China High-grade ore price inches up on stock-building activity Chinese physical manganese alloy price holds in spite of futures drop India...Read More
The aluminium mill-grade scrap market in the United States is showing further signs of wear, with prices shrugging off steep gains on the London Metal Exchange due to ample supply and limited demand.Despite the sharp uptick on the LME, some mill-grade scrap prices continued to succumb to downward pressure in Fastmarkets AMM's assessment on Monday December 3. Prices for 5052 segregated low-cop...Read More
The US Midwest P1020 aluminium premium held its range on Tuesday December 4, while domestic market participants kept out of the spot market and focused on depleting their existing inventories before the end of the year.Fastmarkets AMM assessed the P1020 duty-paid Midwest aluminium premium at 19-19.5 cents per lb on December 4, unchanged from the previous assessment. The premium had declined on Nov...Read More
The latest metal markets news and price moves to start the North American day on Tuesday December 4. Base metals prices, bar those for tin, on the Shanghai Futures Exchange were all down during Asian morning trading on Tuesday December 4, with investors taking profits following the complex's strong performance on Monday.Here is how the LME base metals complex looked at 11.58am London time: For...Read More
Base metals prices on the London Metal Exchange were mostly higher during morning trading on Tuesday December 4, lifted by a slight downturn in the US dollar index and while market sentiment remains positive after recent US-China trade talks. The three-month nickel price continues to push higher - it is up by more than 6% from last week's low of $10,720 per tonne and is more than 1% higher than la...Read More
This article has been corrected to show that the Fastmarkets MB copper concentrates index should have read $88.8 per tonne/8.88 cents per lb on Friday November 30, not $87.3/8.73 cents as previously published.Diverted tonnages have been flowing into the spot copper concentrate market following unplanned outages at major smelters, boosting treatment charges (TCs) in the final two weeks of November....Read More
Fastmarkets MB has corrected its copper concentrate TC/RC index, which was published incorrectly on November 30 due to a reporter error.The figure for the index has now been amended $88.8 per tonne/8.88 cents per lb.Fastmarkets MB's price book and database have been updated to reflect this change.To provide feedback on this price or if you would like to provide price information by becoming a data...Read More
The latest news and price moves to start the Asian day on Wednesday December 5.Positive developments in the United States-China trade dispute kept London Metal Exchange base metal prices mostly elevated at the close on Tuesday December 4, although broad strength in the dollar is capping price rallies. Read more in our live futures report.Here are how prices looked at the close of trading:Flat stee...Read More
The hot-rolled coil price strengthened slightly in the United States on Monday December 3, due to domestic mills trying to hold the price at $40 per hundredweight ($800 per short ton).Fastmarkets AMM's daily US Midwest hot-rolled coil index inched up to $37.77 per cwt on December 3 from $37.41 per cwt on Friday November 30.Lead times are around four weeks, market participants said.Heard in th...Read More
Flat steel import prices in Saudi Arabia and the United Arab Emirates (UAE) have increased slightly over the past seven days due to higher offers, sources told Fastmarkets on Tuesday December 4.Demand was subdued because buyers do not want to build inventory before finalizing their year-end accounting procedures, while it is also the case that existing stocks are enough to meet current consumption...Read More