* Jump in supply comes as demand outlook weakens* OPEC+ discuss supply cut of up to 1.4 million bpd -sources* POLL-U.S. crude stockpile likely up for eighth week* U.S. crude oil stocks rise sharply, climbing 8.8 mln bbls-API (Adds API data, Breakingviews item in related content field)By Devika Krishna KumarNEW YORK, Nov 14 (Reuters) - Oil rose about 1 percent on Wednesday, recouping some of the pr...Read More
NEW DELHI, Nov 14 (Reuters) - India's finance ministry wants the Reserve Bank of India (RBI) to address credit and liquidity related issues at its board meeting scheduled for Nov. 19, Indian TV channels reported on Wednesday, citing unidentified sources.The central bank and the government have been at loggerheads in recent weeks as the government ramps up pressure on the regulator to relax lending...Read More
* Indian rupee rises to its highest since Sept. 21* India 10-year bond yield falls to lowest since Aug. 2* Local elections, cenbank-govt rift to cap large gains - dealers (Updates to add details, background, quotes)By Suvashree ChoudhuryMUMBAI, Nov 14 (Reuters) - The Indian rupee and bonds gained in early trade on Wednesday, boosted by a fall in global oil prices and on the central bank's announce...Read More
* STOXX down 0.6 pct, Eurostoxx 50 down 0.6 pct* Italy down 0.8 pct as budget showdown looms* Oil stocks tumble as crude struggles* Copper slides, miners fall 2 pct (Updating prices, adding details)By Julien Ponthus and Helen ReidLONDON, Nov 14 (Reuters) - European shares hit their lowest in two weeks on Wednesday in a broadbased sell-off across oil, mining, technology and banking stocks amid rene...Read More
BRUSSELS, Nov 14 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:APPROVALS AND WITHDRAWALS-- UK packaging business DS Smith SMDS.L to acquire Spanish corrugated packing provider Europac PYCE.MC (approved Nov. 14)NEW LISTINGSNoneEXTENSIONS AND OTHER CHANGES-- Germany's Thyssenkrupp TKAG.DE and India's Tata Steel TISC.NS to...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Wednesday November 14, boosted by a steady rebound in global benchmark crude oil futures and a marginal retreat in the dollar index.Following a decline in the oil price this morning due to increasing concerns over a global slowdown economic growth, it bounced 1.47% over the course of the...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.5 pct* Brexit deal still has to pass through some hoops* Smiths Group rises on healthcare spin-off plan* Debenhams tumbles on report of suppliers turning awayBy Helen ReidLONDON, Nov 14 (Reuters) - Britain's top stock index sank on Wednesday as mining companies and oil majors sold off amid growing anxiety...Read More
* European shares down as much as 1.2 pct* German, Japanese economies contract in Q3* Sterling volatility jumps to highest since 2017 election* US crude bounces after longest losing streak in decades* Italy budget woes put euro, Italian debt under pressure* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Danilo MasoniMILAN, Nov 14 (Reuters) - Oil struggled to find a floor and stocks tum...Read More
The first deals for special high-grade zinc supply in 2019 in Europe point to a decline in annual zinc premiums compared with this year's levels, but Nyrstar's financial troubles are complicating negotiations and raising concerns that supply may turn out to be tighter than anticipated."Not much has been done yet, but [the premium] seems to be lower than last year by at least $10-15 per t...Read More
The latest news and price moves to start the Asian day on Thursday November 15.Base metal prices on the London Metal Exchange were predominantly higher at the close of trading on Wednesday November 14, boosted by a steady rebound in global benchmark crude oil futures and a marginal retreat in the United States' dollar index. Read more in our live futures report.Here are how prices looked at the cl...Read More
Tin trades on the Indonesia Commodity & Derivatives Exchange (ICDX) have completely halted because of significant supply disruptions in the country, Fastmarkets heard on Wednesday November 14.The country is the world's second-largest producer of the metal, but the price of tin on the London Metal Exchange continued to show little reaction to the interruption to trading.A joint statement on October...Read More
The tin premium in Europe remains at a 21-month high amid continued uncertainty over Indonesian supply, while thin spot activity and a closed import arbitrage window kept premiums firm in the United States and China. European participants seek direction amid Indonesian supply outage US traders at odds with buyers in 'dull' market Chinese premiums flat on rising SHFE stocksEuropean premiums hold st...Read More
Comex copper prices moved higher on Wednesday November 14 despite a stronger dollar due to growing optimism that a bilateral trade agreement between the United States and China could be reached in the next few months. The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 1.25 cents to $2.6995 per lb. Markets have seen chaotic price movement in th...Read More
Kyzyl ramp-up signals new growth path at buoyant PolymetalSPONSOREDpolymetal internationalXiana paid US$25 million in cash for the complex which consists of three operating mines, a concentrate plant, related infrastructure and exploration licences near the northern city of Ovalle."MAP is an excellent cornerstone asset for the Xiana portfolio and we look forward to executing our optimization plans...Read More
The price for rebar produced and delivered in Southern Europe pushed slowly upward again on Wednesday November 14, with sellers offering higher prices due to high costs but consumers so far unwilling to commit to large-volume deals.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe narrowed upward to ?,?530-535 ($597-602) per tonne delivered on Wednesday, from ?,?520-535 pe...Read More
The price for rebar produced and delivered in Northern Europe stayed flat on Wednesday November 14, with producers remaining firm on their offer prices despite higher production and raw material costs.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe stayed at ?,?550-560 ($619-630) per tonne delivered, after rising from ?,?540-560 per tonne two weeks ago.The low end of the...Read More
Prices for hollow steel sections in Northern Europe were flat this week amid stable market conditions, Fastmarkets heard on Wednesday November 14.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was ?,?640-660 ($720-743) per tonne delivered on November 14, unchanged week on week.Last week, hollow section prices widened by ?,?10 pe...Read More
Steel mills have begun pushing for an increase in the domestic price for steel beams in Europe, despite market conditions and feedstock costs remaining stable, but prices did not show any change this week, sources told Fastmarkets on Wednesday November 14.Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?620-645 ($698-726) per tonn...Read More
The gap between export offers and bids for hot-rolled coil in China narrowed on Wednesday November 14, raising expectations of the Chinese product finding favor among overseas buyers again.DomesticEastern China (Shanghai): 3,800-3,810 yuan ($546-547) per tonne, narrowing downward 10 yuan per tonneNorthern China (Tianjin): 3,840-3,850 yuan per tonne, up 10-20 yuan per tonneDomestic prices were larg...Read More
South African miners will continue to need road transportation to get their material to port, according to Thembalani Gantsho, joint chief executive officer of Kudumane Manganese Resources.Road freight will be needed to meet the shortfall in capacity offered by the country's rail freight company, Transnet, Gantsho told delegates to Fastmarkets International Ferroalloys Conference in Lisbon, held N...Read More