Futures & Commodities Metals

  • Many of the rigs cut were in the Permian Basin in Texas and New Mexico, the country's biggest shale oil formation, were the rig count dropped by seven this week to 481, the lowest since August. Oil prices tanked in the fourth quarter of 2018, with U.S. crude futures dropping from a near four-year high of $76.90 a barrel in early October to an 18- month low of $42.36 in...

  • SAO PAULO, Jan 18- ArcelorMittal SA, the world's largest steelmaker, is set to build its first-ever desalination unit in Brazil to handle unforeseen water needs at its plant in the eastern state of Espírito Santo, senior company executives said in an interview on Friday. The unit is aimed at lessening the company's dependence on state water utility company...

  • *Russia's c.bank bought 8.8 mln oz of gold in 2018. MOSCOW, Jan 18- Russia has overtaken China to become the world's fifth largest official sector holder of gold as Western sanctions drove buying by its central bank to record highs in 2018, its data showed on Friday. In 2018, Russia's buying jumped further as holdings of U.S.

  • LONDON, Jan 18- A new year but the same old problems for aluminum. That was the stark message from Roy Harvey, president and chief executive of U.S. aluminum producer Alcoa, speaking on the company's Q1 results call. Graphic on China's exports of aluminum "semis":.

  • LONDON, Jan 18- LME copper and zinc hit one-month highs on Friday as base metals rallied on signs the trade dispute between the United States and top metals consumer China could be easing. The Wall Street Journal reported on Thursday that U.S. *COPPER: Three-month copper on the London Metal Exchange was 1.2 percent higher at $6,062.50 a tonne by 1019 GMT, having hit...

  • Jan 18- Gold slipped to the lowest in more than a week on Friday as hopes of a thaw in the U.S.- China trade dispute perked up stock markets, while palladium held above $1,400 on a supply crunch. Spot gold was down 0.4 percent to $1,285.82 per ounce at 1127 GMT, having hit its lowest since Jan. 9 at $1,283.51. Global stocks rose to their highest in more than a month after a...

  • BENGALURU, Jan 18- Palladium held above $1,400 an ounce on Friday after surging to record levels in the previous session amid tight supplies and robust demand, while gold stood firm even as risk sentiment got a boost from hopes of progress in U.S.- China trade talks. Spot palladium climbed 1.3 percent to $1,414 per ounce by 0636 GMT, having hit an all-time high of...

  • BEIJING, Jan 18- London copper prices rose for a fourth straight session early on Friday, hitting their highest level so far this year, on signs the United States and top metals consumer China are closer to resolving their long-running trade dispute. *TRADE: Trade officials from the United States and China are in discussions to reopen China's market to U.S. chicken...

  • BENGALURU, Jan 18- Palladium held near $1,400 an ounce on Friday after surging to record levels in the previous session on tight supplies and robust demand, while gold stood firm amid a partial U.S. government shutdown. *Spot palladium was up 0.3 percent at $1,400.50 per ounce at 0116 GMT, having hit an all-time high of $1,434.50 on Thursday. *Spot gold was steady at...

  • Jan 18- Global miner Rio Tinto on Friday logged a slight drop in quarterly iron ore production in December and said it expected to produce more iron ore in 2019 in a target range that was at the lower end of analyst expectations. Mined copper production beat its guidance, mostly due to higher grades and better productivity at Rio Tinto's Kennecott operations in...

  • Gold prices could break the $1,300 level this time: Swiss Asia Capital

    Juerg Kiener of Swiss Asia Capital, Singapore says there is a "fairly good chance" that gold prices will break above $1,300, and the potential upside is in part due to supply constraints.

  • Jan 18- Global miner Rio Tinto on Friday reported a 2 percent rise in annual iron ore shipments from Australia, meeting its guidance, and set a higher target for 2019.. Rio's 2018 iron ore shipments from Australia's Pilbara region totaled 338.2 million tonnes, compared to 330.1 million tonnes the year before, the company said in a statement. The world's No. 2 miner of...

  • Jan 16- Top U.S. aluminum producer Alcoa Corp beat Wall Street estimates for quarterly profit on Wednesday, buoyed by strength in its alumina segment, but shares slipped after the company did not provide a closely watched profit measure for the full year. "Demand growth for primary aluminum in 2019 is expected to be robust, with global consumption growth in the...

  • *Spot gold could exit a neutral $1,285- $1,299 range- technicals. BENGALURU, Jan 17- Palladium surpassed the $1,400 mark for the first time on Thursday, as demand for the auto-catalyst metal overtook its availability in the market, while gold edged lower as the dollar gained on better-than-expected U.S. jobs data. Spot palladium gained 2.3 percent to $1,390.50 per...

  • LONDON, Jan 17- Aluminum fell on Thursday after a vote by U.S. lawmakers cleared the way for sanctions to be lifted on major producer Rusal, potentially increasing supply. The U.S. Senate on Wednesday rejected legislation to keep sanctions on companies linked to Russian oligarch Oleg Deripaska, including aluminum firm Rusal. "We've certainly started to see some...

  • VIENNA, Jan 17- Voestalpine blamed operating problems in the United States and provisions from a German cartel investigation for its second profit warning in four months, sending shares in the Austrian steelmaker 8 percent lower on Thursday. The group lowered its full-year guidance for earnings before interest and tax to 750 million euros, after having...

  • A worker walks among rolls of semi-finished aluminum at an Alcoa aluminum factory.

    Top U.S. aluminum producer Alcoa beat Wall Street estimates for quarterly profit on Wednesday, buoyed by strength in its alumina segment.

  • *Spot gold could exit a neutral $1,285- $1,299 range- technicals. Spot palladium had jumped 5 percent to $1,427 per ounce as of 1151 GMT, having hit an all-time high of $1,434.50, and rising more than 10 percent so far this month. It is a good old-fashioned squeeze driven by tight fundamentals, strong momentum and low liquidity, " Saxo Bank analyst Ole Hansen said.

  • LONDON, Jan 17- Aluminum fell on Thursday after a vote by U.S. lawmakers cleared the way for sanctions to be lifted on major producer Rusal, potentially increasing supply. The U.S. Senate on Wednesday rejected legislation to keep sanctions on companies linked to Russian oligarch Oleg Deripaska, including aluminum firm Rusal. "We've certainly started to see some...

  • SINGAPORE/ BEIJING, Jan 17- London copper prices rose for a third straight session on Thursday as China's move to inject liquidity into the financial system boosted expectations of higher demand in the world's top industrial metals consumer. The People's Bank of China is injecting 250 billion yuan through seven-day reverse bond repurchase agreements and...