Metals &Mining Alert:Daily prices and news,India tweaks Money Laundering Act,boosting gold
Industrials (/lb): aluminum $0.98(-0.9%), copper $3.02(-0.5%), lead $1.15(-2.3%), molybdenum $7.14(+0.0%); nickel $4.81(+0.6%); zinc $1.47(-1.6%);Precious (/oz): gold $1,277(+0.7%), silver $16.82(+1.3%); Steel (/mt): ChinaHRC $610(+0.0%), SHFE Rebar $542(+0.0%), MB Scrap Index $291(+0.0%);Bulks: iron ore (/dmt) $62(+1.2%), coking coal (/mt) $185(-0.9%), freight (BCI)2,929(+1.4%); Energy: Brent (/bbl) $55.62(-2.4%), WTI (/bbl) $49.29(-3.0%),natural gas (/mmBtu) $2.86(-2.1%), thermal coal (/t) $97(-1.3%).。
India revokes amendment which had caused drop in official gold sales.。
Prevention of Money Laundering Act (PMLA) had made it mandatory forjewelers to keep identification records of customers purchasing over $765.This led to increased smuggling as buyers were keen to avoid sales tax andmaintain anonymity. Wider discounts were also being offered in the greymarket, which dented official sales. However, ahead of planned fix, thegovernment has temporarily suspended reporting requirements for gold.Coming just ahead of major gold-buying festivals, this move has beenwelcomed by jewelers. (Reuters)。
US Commerce Department finds preliminary antidumping margins of 6.7-46.4% in administrative review for South Korean Oil Country Tubular Goods(OCTG). Most Korean producers received a weighted average dumping marginof 19.7%. Margins are higher than the final results of prior review, which werein the 2.8-24.9% range. (SBB)。
Iron ore and coal markets remain subdued amid China’s absence for a weeklongnational holiday. Prices usually rise after the holiday as steel and rawmaterial buyers return to procure, but expectations are mixed this time due touncertainty over environmental regulations. Platts assessed 62% Fe prices at$61.5/t (+0.2% WoW) and met coal price at $184.5/t (-2% WoW). (SBB, Platts)US Oil & Gas rig count declines by 4WoW to 936(+412YoY) for the weekending 10/6. Oil and gas-directed rigs were down by 2WoW each to 748(+320YoY) and 187(+93YoY), respectively. Canadian count fell by 4WoW to209(+44YoY). (Baker Hughes)。
Indonesian President urges Freeport-McMoRan (FCX) to wrap up Grasbergdivestment deal. The deal, which was drafted in August, allows FCX tocontinue operations till 2041provided it grants the government 51% ownershipin Grasberg copper and gold mine. However, both the parties have beenunable to reach an agreement on the valuation or the timing and structure ofthe divestment. FCX CEO, Richard Adkerson, flew to Indonesia to meet theMining Minister after the President’s comments. (Mining.com)。
AK Steel announces an electrode surcharge of $13.2/st on all stainless productshipments, effective October 29, 2017. Addition of the surcharge is due to therecent significant increase in graphite electrode price, driven by a globalshortage due to China’s environmental crackdown. (Company)。
- ·银行业概念股2022年3月:虚胖”的3月社融 稳稳的银行一季报 2022-04-12
- ·对当前板块的讨论(二十四):政策的念想 2019-11-29
- ·石油化工行业:轻烃化工竞争优势分析 2019-11-29
- ·家电行业2020年度策略:守望价值 拥抱成长 2019-11-29
- ·家用电器行业投资策略月报:竣工周期已至需求改善可期 空调出货持续正增长 2019-11-29
- ·医药生物行业:谈判结果公布 关注边际改善 2019-11-29