commodity trading tips
Zinc Slides to Nine-Month Low on LME; Teck signs Annual Zinc Concentrate supply Deals; Nyrstar Earnings Drop 5% in First Quarter
Gold Silver Reports (GSR) – Zinc Slides to Nine-Month Low on LME; Teck signs Annual Zinc Concentrate supply Deals; Nyrstar Earnings Drop 5% in First Quarter — Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Thursday May 3, with zinc diving to its lowest point since August 2017. Read more in our live futures report.
China Shunning U.S. Soybeans on Trade Tensions
Gold Silver Reports (GSR) – China Shunning U.S. Soybeans on Trade Tensions — “Whatever they’re buying is non-U.S.,” Bunge Ltd. Chief Executive Officer Soren Schroder said in a telephone interview Wednesday. “They’re buying beans in Canada, in Brazil, mostly Brazil, but very deliberately not buying anything from the U.S.”
U.S. May Become World’s Top Oil Exporter Next Year ; Citigroup Says
Gold Silver Reports (GSR) – U.S. May Become World’s Top Oil Exporter Next Year ; Citi Says — The U.S. looks likely to overtake Saudi Arabia to become the world’s biggest oil exporter next year, according to Citigroup Inc. With American production surging to unprecedented levels as OPEC continues curbing output, the U.S. is on course to be the top exporter of crude and oil products in 2019, Citigroup said in an April 25 note.
China’s Financial Opening Is No Gold Rush
Gold Silver Reports (GSR) – China’s Financial Opening Is No Gold Rush — This week, Beijing granted additional quotas for domestic funds to invest in overseas securities under the QDII plan, the first time it has done so in three years. At the same time, the government boosted permitted outbound institutional investment from Shanghai and Shenzhen. Meanwhile, Wall Street and other international banks are parsing draft rules on increasing stakes in securities joint ventures after China made good on a late 2017 pledge to ease restrictions.
Zinc Prices Under Pressure; HKEX appoints Cha as Chairman; Vale’s Base Metals earnings grow 45.7% in Q1
Gold Silver Reports (GSR) – Hong Kong Exchanges and Clearing has appointed local businesswoman and politician Laura Cha as its new chairman of the board, the exchange announced on Thursday. Vale’s base metals business posted a 45.7% increase in its core earnings in the first quarter of 2018 from a year earlier, helped primarily by the higher realized nickel prices during the period, the Brazilian diversified miner said on Wednesday.
Macron Says He Thinks Trump Will Pull Out of Iran Nuclear Deal
Gold Silver Reports – Macron Says He Thinks Trump Will Pull Out of Iran Nuclear Deal — “My view — I don’t know what your president will decide — is that he will get rid of this deal on his own for domestic reasons.” Macron told journalists Wednesday in Washington, adding that he encouraged the American president to stay in the accord during his three-day visit to the U.S. capital.