Edition:
United States

Maytaal Angel

METALS-Zinc rallies as stocks slide, China-U.S. trade tensions ease

Nov 15 2018

* Aluminium hits lowest since last August (Adds closing prices, details)

METALS-Copper steady as traders weigh dollar gains against China growth bets

Nov 08 2018

* China October copper imports fell, data shows (Recasts, adds detail, closing prices)

European automakers BMW, Volvo to trial new LME steel contracts

Nov 06 2018

LONDON European automakers BMW and Volvo plan to experiment with steel contracts to be launched by the London Metal Exchange early next year, a move which could eventually change the way the industry hedges and prices contracts, industry sources said.

METALS-Aluminium hits near 15-month low on slowing China factory growth

Oct 31 2018

LONDON, Oct 31 Aluminium fell near a 15-month low on Wednesday, clocking up a 5 percent loss on the month, after data showed China's manufacturing sector grew at its slowest pace since July 2016 and concerns lingered about excess Chinese supply.

METALS-Copper slides as equity markets rout rattles investors

Oct 26 2018

* Nickel hits lowest since Dec, aluminium lowest since last August (Adds closing prices, details)

Steel capacity set to expand just as demand growth ebbs

Oct 26 2018

LONDON/TOKYO Spurred by a steel-price rally, firms are pouring money into new plants that are set to start producing just as growth in demand for the construction material shrinks, industry executives say, challenging the market's prevailing bull narrative.

METALS-Copper slips as trade tensions, rising U.S. rates weigh

Oct 16 2018

* China stocks end lower on lean factory gate inflation * GRAPHIC-2018 asset returns: http://tmsnrt.rs/2jvdmXl (Adds closing prices) By Maytaal Angel LONDON, Oct 16 Copper prices slid on Tuesday amid lean factory-gate inflation data in China and nagging concerns about global growth, trade tensions and rising U.S. interest rates. Chinese stocks fell overnight after data showed factory-gate inflation in the world's top copper consumer had cooled for a third straight month in September. A degree of calm returned to battered global stock markets, although caution prevailed given tensions with Saudi Arabia, trade worries and concerns over a global growth slowdown. "Nothing positive has come along. Trade tensions (between the United States and China) could (go) into next year, oil prices are up and (U.S.) interest rates are rising," said William Adams, head of research at Fastmarkets. He added that while copper's supply-side fundamentals are strong, they will only start driving prices higher once the macro-economic headwinds subside, which is not on the cards in the near term. COPPER PRICE: Three-month copper on the London Metal Exchange ended down 1.4 percent at $6,215.50 tonne. The metal has been range-bound since mid-September but is down around 14 percent since its June peak. STEEL: The World Steel Association doubled its 2018 and 2019 forecasts for growth in global demand for the material used in sectors from cars to construction, but said trade tensions were clouding the market's outlook. "(Base metals) will continue to see choppy price action amidst ongoing macro uncertainty, although given the more bullish micro situation we look at price dips as buying opportunities," Marex Sepctron said in a note. The broker pointed to low warehouse inventories and said it is likely that "any ratchet higher in trade tensions (should) result in China resorting to infrastructure stimulus to support growth". COPPER PREMIUMS: Yangshan copper import premiums have been hovering near $120 since late-September, levels last seen in 2015, indicating strong demand. COPPER PROJECTS: The world's biggest miner BHP has nearly doubled its stake in SolGold Plc <SOLG.L as it eyes SolGold's promising Cascabel copper-gold project in Ecuador. COPPER TAX: The Polish government is working on amending tax laws, which could lead to tax deductions of up to 5 percent on certain minerals. NICKEL: Major Brazilian mining company Vale will only make new investments in nickel if global prices rise to around $20,000 per tonne, the firm's chief executive said on Tuesday. METAL PRICES: Aluminium ended up 0.4 percent at $2,034 a tonne, zinc closed up 0.3 percent at $2,606, lead ended down 0.9 percent at $2,065.50, tin closed up 0.3 percent at $19,200 while nickel ended down 0.2 percent at $12,595. (Additional reporting by Naveen Thukral, editing by David Evans/Keith Weir/Jane Merriman)

METALS-Copper slips as trade tensions, rising U.S. rates weigh

Oct 16 2018

* China stocks end lower on lean factory gate inflation * GRAPHIC-2018 asset returns: http://tmsnrt.rs/2jvdmXl (Updates prices) By Maytaal Angel LONDON, Oct 16 Copper prices slid on Tuesday amid lean factory-gate inflation data in China and nagging concerns about global growth, trade tensions and rising U.S. interest rates. Chinese stocks fell overnight after data showed factory-gate inflation in the world's top copper consumer had cooled for a third straight month in September. A degree of calm returned to battered global stock markets, although caution prevailed given tensions with Saudi Arabia, trade worries and concerns over a global growth slowdown. "Nothing positive has come along. Trade tensions (between the United States and China) could (go) into next year, oil prices are up and (U.S.) interest rates are rising," said William Adams, head of research at Fastmarkets. He added that while copper's supply-side fundamentals are strong, they will only start driving prices higher once the macro-economic headwinds subside, which is not on the cards in the near term. PRICES: Three-month copper on the London Metal Exchange traded down 1.4 percent in official midday rings to $6,213 tonne. The red metal has been range-bound since mid-September but is down 14 percent since its June peak. STEEL: The World Steel Association doubled its 2018 and 2019 forecasts for growth in global demand for the material used in sectors from cars to construction, but said trade tensions were clouding the market's outlook. "(Base metals) will continue to see choppy price action amidst ongoing macro uncertainty, although given the more bullish micro situation we look at price dips as buying opportunities," Marex Sepctron said in a note. The broker pointed to low warehouse inventories and said it is likely that "any ratchet higher in trade tensions (should) result in China resorting to infrastructure stimulus to support growth". COPPER PREMIUMS: Yangshan copper import premiums have been hovering near $120 since late-September, levels last seen in 2015, indicating strong demand. BHP: The world's biggest miner BHP has nearly doubled its stake in SolGold Plc , bolstering its position against top shareholder Newcrest Mining as it eyes SolGold's promising Cascabel copper-gold project in Ecuador. POLAND: The Polish government is working on amending tax laws, which could lead to tax deductions of up to 5 percent on certain minerals. OTHER METALS: Aluminium traded down 0.2 percent in rings at $2,024 a tonne, zinc traded down 0.1 percent at $2,597, lead traded up 0.5 percent at $2,095, tin was last bid down 0.5 percent at $19,050 while nickel traded down 1.1 percent at $12,480. (Additional reporting by Naveen Thukral, editing by David Evans/Keith Weir)

ArcelorMittal sells assets to Liberty House to facilitate Ilva deal

Oct 12 2018

GDYNIA/LONDON ArcelorMittal, the world's largest steel producer, has agreed the sale of plants in the Czech Republic, Romania, Macedonia and Italy to Liberty House to satisfy regulatory requirements for its acquisition of Italian steelmaker Ilva.

Industrialist Sanjeev Gupta rethinks IPO strategy, targets Australia

Oct 12 2018

LONDON Sanjeev Gupta, founder and chairman of the GFG Alliance, is rethinking his IPO strategy, targeting an initial listing of either his steel or energy assets in Australia next year.

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