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Bloomberg

Aluminium giants stop short of backing Trump import crackdown

23rd June 2017 As the calls for restrictions on cheap Chinese imports reach a fever pitch in Washington, some of the biggest North American aluminium producers are advocating a softer touch. Alcoa Corp. urged the US to directly engage with China to ensure overproduction no longer spills out to the rest of the... 

Venezuela lawmaker asks SEC to probe Goldman's PDVSA bond deal

23rd June 2017 The head of Venezuela’s National Assembly asked US authorities to investigate a $2.9-billion bond deal involving Goldman Sachs Group and Nomura Securities, saying the transaction fleeced the country for the benefit of political elites. Julio Borges, an opponent of President Nicolas Maduro,... 

Electric car demand boosts companies engaged with lithium

23rd June 2017 Lithium demand is surging, boosting shares of the companies linked to mining and manufacturing the light metal used in electric-car batteries. Global X Lithium & Battery Tech, an exchange-traded fund of the 27 biggest companies linked to the light metal, has increased 65% in the past 18 months,... 

Africa's richest man may quit Ethiopia over mining dispute

23rd June 2017 Dangote Cement, controlled by Africa’s richest man, Aliko Dangote, said it may shut its operations in Ethiopia if authorities in the central state of Oromia don’t reverse an order to cement makers to hand over control of some parts of their businesses to local young people. Oromia state’s East... 

America's only rare earth mine mired in distressed debt dispute

23rd June 2017 A long-running fight between distressed debt investors is threatening to scuttle the reopening of the only US mine producing rare metals used in hybrid electric cars and some military hardware. A court-appointed trustee for bankrupt Molycorp Minerals will ask a judge Friday to approve the sale of... 

Centrica to miss out on silver lining from rough sales

21st June 2017 Centrica won’t have much change left after selling all the spare fuel it keeps at a North Sea gas facility it’s decided to close. The so-called cushion gas, sitting in a reservoir 29 km off the English coast, is worth about £750-million pounds, according to Lakis Athanasiou, a utilities analyst... 

Iron seen in low-$40s by Citi as supply grows, demand peaks

20th June 2017 Iron-ore may extend a slump into the low-$40s as supplies swell and demand reaches a short-term peak amid steel mill restarts and ramp-ups in China, according to Citigroup, which cut its forecasts by as much as 20% over the next year. The nadir in prices may occur in six to eight months, analysts... 

Hedge funds exit gold before Fed sparks worst rout in month

19th June 2017 Hedge funds were smart enough to get ahead of Janet Yellen’s bad news for the gold market. Money managers pared their net-bullish wagers in the metal for the first time in four weeks. The next day, the move was vindicated when Federal Reserve Chair Yellen raised US interest rates and sparked the... 

New Russia sanctions impact muted even as energy shares sag

16th June 2017 For investors in Russia’s energy and metals sectors, the US Senate’s bill to expand sanctions was a blow. Whether it will hurt Russian companies targeted by the legislation is less certain. The Senate bill proposes adding restrictions to banks’ and energy companies’ ability to raise capital, and... 

EU, China show united climate front after Trump shuns global pact

16th June 2017 The European Union (EU) and China displayed a united front over the need to fight climate change while revealing nagging differences over the path to deeper trade and investment ties. Jean-Claude Juncker, president of the European Commission, the EU’s executive arm, said Europe and China must... 

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