Overnight news that regulators in Quebec are reviewing some Bombardier (BBD.B) insider-related transactions shines a spotlight on a big shortcoming in disclosure in Canada. There is an obscure measure in a 2006 OSC staff notice that allows insiders to delay reporting trades for a year or possibly more if they are made under an Automatic Securities Disposition Plan (ASDP) and receive a regular rep...Read More
NEW DELHI/SHANGHAI - India's Vedanta Ltd has been selling copper concentrate on the spot market from stockpiles at its Sterlite smelter, a company official said, after the facility was forced to stop operating earlier this year amid pollution concerns.The company is disposing of around 70,000 tonnes of copper concentrate that have been lying unused since the closure of the plant, the official told...Read More
NEW DELHI/SHANGHAI - India's Vedanta Ltd has been selling copper concentrate on the spot market from stockpiles at its Sterlite smelter, a company official said, after the facility was forced to stop operating earlier this year amid pollution concerns.The company is disposing of around 70,000 tonnes of copper concentrate that have been lying unused since the closure of the plant, the official told...Read More
* Three mines ordered shut for environmental violations * Philippines is world's No. 2 nickel ore exporterBy Manolo Serapio JrMANILA, Nov 16 (Reuters) - The Philippines' environmentministry said nine suspended mines will be allowed to resumeoperations if they rectify previous violations of environmentalregulations, a move that could boost nickel output in the majorsupplier of the metal.The nine mi...Read More
* India premiums at $3 versus discount last week* Premiums in China, Hong Kong edge higherMUMBAI/BENGALURU - Gold is trading at premium in India for the first time in more than two months on robust demand following a busy festival week, while a dip in global prices earlier this week helped bullion's appeal in some Asian hubs.Dealers in India, the world's second biggest gold consumer after China, w...Read More
The Philippines will allow nine mines currently halted to resume operations if they correct previous violations of environmental rules, a government official said Friday, in a move that could increase global nickel supply.The mines, six of which are nickel operations, were permanently shut in early 2017 as part of an environmental crackdown on the sector. Environment and Natural Resources Secreta...Read More
The Philippines will allow nine mines currently halted to resume operations if they correct previous violations of environmental rules, a government official said Friday, in a move that could increase global nickel supply.The mines, six of which are nickel operations, were permanently shut in early 2017 as part of an environmental crackdown on the sector. Environment and Natural Resources Secreta...Read More
Gold is consolidating in the range of $1,207 to $1,216 and a break above the upper end of the trading range would confirm a bullish continuation pattern, that is, a revival of the rally from the Nov. 14 low of $1,199. The yellow metal has found acceptance above the 200-hour exponential moving average (EMA). Further, the 50-hour EMA has cut the 100-hour EMA from below, confirming a bullish crossov...Read More
* State govt demands higher share from sale of ore by NMDC* State govt may auction mine if NMDC refuses - state mining secy* NMDC shares mark biggest single-day fall since Aug. 9NEW DELHI - The government of India's Karnataka state on Friday warned NMDC Ltd that it will cancel the lease of its Donimalai iron ore mine if the state-owned miner refuses to pay an additional levy on the sale of its ore...Read More
NEW DELHI/SHANGHAI, Nov 16 (Reuters) - India's Vedanta Ltd has been selling copper concentrate on the spot marketfrom stockpiles at its Sterlite smelter, a company officialsaid, after the facility was forced to stop operating earlierthis year amid pollution concerns.The company is disposing of around 70,000 tonnes of copperconcentrate that have been lying unused since the closure of theplant, the...Read More
Published 22 Hours AgoUpdated5 Hours AgoReuters Getty ImagesGold rose as much as 1 percent on Friday as the dollar fell after U.S. Federal Reserve officials made cautions comments that fed doubt about the outlook for interest rate hikes, while palladium hit a record high driven by worries about short supplies.Spot gold rose 0.7 percent to $1,221.38 an ounce by 2:47 p.m. ET. The session high was t...Read More
JOHANNESBURG, Nov 16 (Reuters) - South Africa's rand wassteady against the U.S. dollar in early trade on Friday, in linewith a rise in bonds, with turmoil around Britain's exit fromthe European Union boosting investor appetite for emergingmarket assets.At 0707 GMT, the rand traded at 14.1800 per dollar,0.04 percent firmer, having closed in New York at 14.1850. * The currency is expected to trade i...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average turned higher, led by gains in 3M (MMM) , Caterpillar Inc. (CAT) and Apple Inc. (AAPL) .Walmart Inc. (WMT) fell 2% even after after the world's largest retailer posted stronger-than-expected third-quarter earnings and raised earnings guidance for its next fiscal year.Cisco rose 5.5% after its fis...Read More
Zinc futures on the London Metal Exchange rallied 3% at the close on Thursday November 15, ending a weeklong downtrend and supported by a decade-low downdraft in total LME inventories.Across the entire base metals asset class, volumes traded on the exchange were moderately high, with the trading of zinc's 15,062 lots the most since Thursday August 16 and second on the day to copper's 16,465 lots."...Read More
Swiss multinational investment bank, UBS Group, has applied for Category II membership on the London Metal Exchange, according to a note released by the exchange on Thursday November 15. The LME currently has 32 Category II members and the Swiss bank's London subsidiary, UBS Ltd, is already a member. Last month, Chinese broker Nanhua Futures similarly took steps...Read More
[updating with detail and comment throughout]Jiangxi Copper and Antofagasta agreed terms on 2019 copper concentrates treatment and refining charges (TC/RCs) at $80.80 per tonne/8.08 cents per lb on Thursday November 15, sources from both companies told Fastmarkets.The deal is in line with market expectations and is 1.8% lower than the benchmark of $82.25/8.225 cents agreed in 2018 between Freeport...Read More
Key data from the Wednesday November 14 pricing session in Europe. Key driversThe recent downward trend in the ferro-titanium price has created more losses in the European alloy market. The trend started on September 12, when the market was assessed at $5.80-6.05 per kg.Trading activity was slower this week, with many market participants at Fastmarkets MB' International Ferro-alloys conference in...Read More
Expansions in chrome capacity over the next five years will lead to a global oversupply in the short term, Fastmarkets learned at the 2018 International Chromium Development Association (ICDA) Conference in Baotou, China's Inner Mongolia Autonomous Region on November 6-8. There will be an increasing oversupply in the chrome industry over the next five years though it is difficult to gauge whether...Read More
Planned investment by China in high-pressure acid-leaching (HPAL) projects for nickel mining will materialize, but the projected production timeframes are very likely to be pushed back, and development costs are liable to increase, market participants have told Fastmarkets."[The Chinese are] looking to take advantage of the expected growth [in nickel demand for battery uses]. All of us are skeptic...Read More
[updating with detail and comment throughout]Jiangxi Copper and Antofagasta agreed terms on 2019 copper concentrates treatment and refining charges (TC/RCs) at $80.80 per tonne/8.08 cents per lb on Thursday November 15, sources from both companies told Fastmarkets.The deal is in line with market expectations and is 1.8% lower than the benchmark of $82.25/8.225 cents agreed in 2018 between Freeport...Read More