* Japan life insurers' preference for foreign bonds intact * But higher FX hedging costs suppress interest towardsTreasuries * Demand for JGBs still low, but bump up in yields stirsinterest * For individual reports on each insurer, click* Table of the insurers' investment plansBy Shinichi SaoshiroTOKYO, Oct 26 (Reuters) - Japanese life insurers are poisedto buy more foreign bonds in the second hal...Read More
Oct 26 (Reuters) - Glencore Plc on Friday reporteda 12 percent rise in copper production so far this year, whilecobalt production rose 44 percent, boosted by the restart ofKatanga's processing operations in the Democratic Republic ofCongo. The London-listed miner and commodities trader, whichposted record half-year earnings in August, said then it hadbeen facing higher costs and weak prices for co...Read More
TRONDHEIM, Norway, Oct 26 (Reuters) - Norway's central bankwill maintain its policy of gradual monetary policy tightening,it said on Friday."The outlook and balance of risks imply a gradual increasein the key policy rate," Governor Oeystein Olsen told a businessconference.On Thursday the board of Norges Bank kept rates unchanged at0.75 percent and said a hike would likely take place in t...Read More
Published 23 Hours AgoUpdated5 Hours AgoReuters Gold rose on Friday to a more than three-month peak as investors rushed to the safety of bullion as stock markets around the globe plunged, putting the metal on track for its fourth week of gains.Spot gold rose 0.2 percent to $1,234.35 an ounce, having earlier gained nearly 1 percent to $1,243.32, its highest since mid-July.U.S. gold futures settled...Read More
SHANGHAI, Oct 26 (Reuters) - China's yuan hit a fresh22-month low against the dollar on Friday, as aweaker-than-expected central bank fixing ramped up market viewsthat authorities would allow larger declines in the currency.The move lower follows broad dollar strength as the eurofell after the European Central Bank failed to convince marketsthat its rates would rise, while expectations of gradual...Read More
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* High crude prices, weak rupee hurting sales growth* Maruti's Q2 profit down 10 pct y/y, sales 1.5 pct lower* Q2 total revenue from operations up 3 pct (Adds company chairman, executive comments)By Aditi Shah and Arnab PaulNEW DELHI/BENGALURU, Oct 25 (Reuters) - Maruti Suzuki India MRTI.NS may find it tough to meet its 10 percent sales growth target for the current fiscal year, its chairman sai...Read More
* NSE, BSE indexes fall 1.4 pct each* Investors cautious ahead of derivatives expiry* Reliance Industries top drag, hits 3-1/2-month lowBy Chris ThomasOct 25 (Reuters) - Indian shares fell nearly 1.5 percent to a seven-month low on Thursday, joining a sell-off in global equities amid concerns about a slowdown in the world economy.Asian shares plunged after tech stocks caused the largest daily de...Read More
(Adds graphic)* India coal imports: https://tmsnrt.rs/2Pk39w9By Sudarshan VaradhanNEW DELHI, Oct 25 (Reuters) - India's thermal coal imports rose at the fastest pace in three-and-a-half years in the September quarter, spurred by new demand and domestic infrastructure bottlenecks that are threatening government plans to cut foreign supplies.Imports jumped 35 percent to 42.7 million tonnes during th...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesBHP acquired a 6% stake in SolGold last month for US$59.2 million and increased it last week to 11.2% for a further $59.2 million.Newcrest is the company's largest shareholder with...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesGlencore produced 1.1 million tonnes of copper during the period, up 12% year-on-year, and 28,500t of cobalt, a 44% increase.Katanga contributed 102,600t of copper and 6,500t of cobalt....Read More
Mining technology and geotechnical slope-stability-monitoring radar systems supplier Reutech Mining plans to expand its product range in 2019, says executive manager Jan de Beer.The company provides equipment that can assist in real-time monitoring of the mine walls in opencast mines to provide early warning before slope failures occur. The product range includes the Reutech Mining Movement and Su...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday October 25, with continued strength in the US dollar index capping gains, while stronger earnings reports and a broadly positive European Central Bank outlook safeguarded commodity investments. Over the afternoon, the three-month nickel price largely under-performed amid slight downticks in aluminium and...Read More
Comex copper prices were little changed Thursday morning in the US with a stronger dollar capping any positive momentum. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 0.10 cents to $2.7585 lb. "While we forecast a stronger copper price by the end of the year, the fragile macro backdrop poses downside risks to our outlook," Fastmar...Read More
Base metals prices on the London Metal Exchange were mixed during morning trading on Thursday October 25, with bearish third-quarter earnings reports prompting sharp sell-offs in the Asian and European equity markets, while global trade tensions deter commodity investment. Edging lower over the morning, the three-month copper price is trading below $6,200 per tonne, while total available LME stock...Read More
Grupo Mexico, the largest Mexican miner, expects a surge in its production next year, mainly led by copper and zinc. The company is undertaking a huge expansion program that will raise its output of copper by almost 80% by 2025, to 1.8 million tonnes per year.The conglomerate owns assets in Mexico, Peru, Spain and the United States, and it produced 254,219 tonnes of copper in the third quarter of...Read More
Zinc and lead concentrates trader Edouard Penot has left Transamine after four years at the firm, Fastmarkets understands.Penot was working with Eduardo Grau in handling zinc...Read More
Konkola Copper Mines (KCM), Vedanta's Zambian copper operation, could cut its copper output by up to 150,000 tonnes next year due to rising procurement costs following a proposed import duty on copper concentrates, Fastmarkets has learned. KCM is looking to halve its Zambian primary smelting capacity- which now stands at 311,000 tonnes per year, a company source said on Wednesday October 24. To ga...Read More
Chinese cobalt sulfate trade log including business, bids and offers reported to Fastmarkets.Unless otherwise stated, all prices are yuan per tonne on an ex-works basis. In addition, cobalt sulfate, Co 20.5% min, China ex-works, adjustment to low-grade cobalt low-end price at Co 20.5% basis, $/Ib is showed in the bracket, at $ per lb basis. Fastmarkets MB prices Click here for Fastmarkets MB'...Read More
Import prices for steel scrap in Turkey remained flat while rumors of bookings in the deep-sea market made by the country's steel producers were unconfirmed on Thursday October 25.Reports of two deep-sea cargo trades came to light but market participants were unable to confirm significant details.A steel mill in the Marmara region was reported to have booked a Baltic Sea cargo of...Read More