(For a live blog on European stocks, type LIVE/ in an Eikon news window)LONDON, Nov 15 (Reuters) - European shares marched higher on Thursday as oil prices stabilised and mining stocks rallied on hopes that China and the United States may reach a rapprochement to end their long-running trade spat, offsetting bad news in the tech sector.The pan-European STOXX 600 index .STOXX was up 0.2 percent by...Read More
Nov 15 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India ( CRISIL (NS:CRSL)) for local debt instruments as of November 14, 2018. COMPANYINSTRUMENTRATINGAMOUNT MOVEMENT(RS.MLN) --------------------------- --------- SHORT TERM RATINGS: ------------------- Aaditya Foam Industries LLPLOCCRISIL A4+20Reaffirmed Active Tools Pvt LtdPacking CreditCRISIL A4+110Assigne...Read More
* Sees India refined copper consumption around 650,000 T in 2018* Shipments from ASEAN, Japan to fill void left by Vedanta -CEO* Sees import reliance up to 41 pct from previous 28 pct (Adds comment from CEO interview, industry details)By Tom DalySHANGHAI, Nov 15 (Reuters) - India's refined copper consumption is set to more than double over the next eight years amid rising demand from the power, au...Read More
SHANGHAI, Nov 15 (Reuters) - India's refined copper consumption is set to more than double over the next eight years amid rising demand from the power, auto and consumer sectors, the chief executive of one of the country's top copper smelters said on Thursday.The nation's consumption of the metal is expected to rise to 1.433 million tonnes by 2026 from 650,000 tonnes in 2018, Birla Copper CEO J.C....Read More
The major gold miners' stocks remain mired in universal bearishness, largely left for dead. They are just wrapping up their third-quarter earnings season, which proved challenging. Lower gold prices cut deeply into cash flows and profits, and production-growth struggles persisted. But these elite companies did hold the line on costs, portending soaring earnings as gold recovers. Their absurdly-che...Read More
Mining companies’ social and labour plans (SLPs) should incorporate initiatives or programmes aimed at reskilling workers and uplifting community members through the development of portable skills, says socioeconomic development facilitator Economic Development Solutions (EDS) MD Janine Espin.EDS projects executive director Waldo Adams notes that, while mining is a corner- stone for the Sout...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
Liquidity in the Pacific alumina market picked up on Thursday November 15 with prices on a fob Australia basis hitting a fresh eight-month low. Fastmarkets MB's benchmark daily fob Australia index stands at $410.98 per tonne on Thursday, down from $423.33 per tonne the day before. The index is now at levels not seen since March 2018 before Hydro declared force majeure at the Alunorte refinery...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
The cobalt metal price in China edged lower mid-week, pressured by the overall bearish sentiment toward the cobalt market's outlook following an industry event last week.Fastmarkets assessed the Chinese cobalt metal price at 410,000-430,000 yuan per tonne ($23.10-24.22) per lb, China VAT-free, on Wednesday November 14, down 4.5% from 430,000-450,000 yuan per tonne previously. "Following the event...Read More
Turkish steel producers resumed their deep-sea scrap purchasing on Thursday November 15, following a downturn in prices.A steel producer in northern Turkey booked a Baltic Sea cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $335 per tonne cfr.Another steel mill in the Iskenderun region booked a United States cargo, comprising 17,000 tonnes of HMS 1&2 (80:20) at $335 per tonne and 3,000...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
UK ferrous scrap prices for deliveries in November have been rolled over due to steady business and a small increase in European export prices to the key destination of Turkey, which meant there has been no support for changes to British domestic scrap prices, trade sources told Metal Bulletin on Wednesday November 14.UK suppliers had initially pushed for an increase of around ?5-10 ($6-13) per t...Read More
The Comex copper price moved higher on Thursday November 15 amid a broad-based increase due to a solid macroeconomic backdrop ahead of the end of year holiday season .The copper price for December settlement on the Comex division of the New York Mercantile Exchange jumped 4.20 to $2.7520 per lb."We continue to expect a strong rebound in copper prices by the end of 2018 principally because investor...Read More