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June 10, 2021

Commodities Markets

EXCLUSIVE-Biden’s electric vehicle plan includes battery recycling push

Reuters
By Trevor Hunnicutt, Ernest Scheyder June 4 (Reuters) – President Joe Biden’s strategy to make the United States a powerhouse in electric vehicles will include boosting domestic recycling of batteries to reuse lithium and other metals, according to government officials. As Biden makes fighting climate change and competing with China......

EDF chief executive says restructuring talks “not at all bogged down”

Reuters
PARIS, April 10 (Reuters) – Negotiations over the restructuring of French state-run utility EDF are not stuck and near daily discussions between Paris and the European Commission continue, chief executive Jean-Bernard Levy said on Saturday. “(The negotiations) are not at all bogged down,” Levy told France Inter radio. The restructuring......

Nine EU advisers threaten walkout over sustainable finance row

Reuters
BRUSSELS, April 1 (Reuters) – Nine members of the expert group advising the European Union on its sustainable finance rules have threatened to step down if Brussels pushes ahead with plans that they say would discredit its efforts to fight climate change. The European Commission is attempting to finish its......

Saudi Aramco private investment plan voluntary, not state imposed, says CEO

Reuters
LONDON, March 31 (Reuters) – Saudi Aramco said on Wednesday the government had no plans to impose private partnerships on the oil giant, after it launched a programme to support private investment in the kingdom as part of Saudi Arabia’s diversification push. “This is a voluntary programme. It’s on the......

Shipping restarts at Suez Canal after ship refloated- sources, agency

Reuters
ISMAILIA, Egypt March 29 (Reuters) – Shipping is on the move again in the Suez Canal after a container ship that had blocked the waterway for nearly a week was refloated, two marine sources and a shipping agency said on Monday. A marine source said ships were travelling southwards towards......

CANADA STOCKS-TSX falls due to subdued commodity-linked stocks

Reuters
(Updates prices, adds sector details) March 29 (Reuters) – Canada’s main stock index fell on Monday, as energy and mining shares tracked subdued commodities, although optimism about an economic recovery capped losses. * The energy sector dropped 1.4%, while the materials sector, which includes precious and base metals miners and......

PRECIOUS-Gold on back foot as firm U.S. dollar weighs

Reuters
(Adds analyst comments, details, updates prices) * Further bond sell-off could push gold below $1,700/oz -analyst * Markets eye Biden's infrastructure spending plans on Wednesday By Asha Sistla March 29 (Reuters) - Gold prices inched lower on Monday as the U.S. dollar and global share markets firmed on the back......

RPT-Large fire at Indonesia’s Balongan oil refinery in West Java – media

Reuters
(Repeats to more subscribers) March 29 (Reuters) – A large fire has broken out at the Balongan oil refinery operated by Indonesia’s state owned oil and gas company, PT Pertamina, media reports said on Monday. The fire started just after midnight on Sunday evening, news portal Detik.com reported. Unverified videos......

Container ship runs aground within Suez Canal causing traffic jam

Reuters
SINGAPORE, March 24 (Reuters) – A container ship heading to Rotterdam ran aground in the Suez Canal on Tuesday, blocking other vessels from transiting one of the world’s most important waterways, according to shipping company GAC and shipping data on Refinitiv Eikon. The 200,000-tonne vessel en route from the Red......

UPDATE 1-Flooding stops Australian coal rail deliveries to Newcastle port

Reuters
(Adds details of port, background) MELBOURNE, March 22 (Reuters) – Australia’s Hunter Valley coal rail lines have been shut due to flooding in the state of New South Wales, the Australian Rail Track Corp said on Monday, halting deliveries into the port of Newcastle, the world’s biggest coal export port.......

Oil slump deepens as Europe faces pandemic lockdowns

Reuters
TOKYO, March 19 (Reuters) – Oil prices fell on Friday, extending losses for a sixth day as a new wave of COVID-19 infections wash across Europe, spurring new lockdowns and dampening hopes for a recovery in demand for fuels anytime soon. Prices plunged the most on Thursday since last summer,......

Myanmar fuel imports plunge in Feb as protests disrupt trade – sources

Reuters
By Poppy McPherson, Florence Tan * Feb fuel imports fall to 287,000T, lowest since Aug 2017 -data * Domestic gasoline, diesel prices soar 36%-37% since end-Jan * Suppliers no longer accepting letters of credit -sources * Switch to telegraphic transfers for payment -sources March 10 (Reuters) – Myanmar’s fuel importers......

GRAINS-Wheat ticks down after rally, strong demand forecast limits decline

Reuters
* Wheat dips after climbing 1.5% on strong global demand * U.S. forecasts strong demand for China’s wheat imports (Adds quote in paragraphs 3-4, details on China’s wheat demand) SINGAPORE, March 10 (Reuters) – Chicago wheat futures slid on Wednesday, taking a breather from a strong run-up in the last......

RPT-COLUMN-Oil risks overheating after OPEC+ leaves output unchanged: Kemp

Reuters
(Repeats March 5 story with no change to text. John Kemp is a Reuters market analyst. The views expressed are his own.) * Chartbook: tmsnrt.rs/3kMuhS1 * OPEC in its own words: tmsnrt.rs/3kLLhYD LONDON, March 5 (Reuters) – By deciding to leave production unchanged for another month at its meeting on......

GLOBAL MARKETS-Wall Street surges on jobs data, global equity markets regain ground

Reuters
(New throughout, updates prices, market activity and comments) NEW YORK, March 5 (Reuters) – Wall Street and a gauge of global equity markets on Friday recovered from earlier losses as investors took stock of a report that showed faster-than-expected U.S. jobs growth but which had previously stoked inflation concerns. Trading......

CANADA STOCKS-TSX opens lower as materials drag

Reuters
Feb 25 (Reuters) – Canada’s main stock opened lower on Thursday, as weakness in materials stocks outweighed upbeat earnings by lenders Toronto-Dominion Bank and Canadian Imperial Bank of Commerce. * At 9:30 a.m. ET (14:30 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 21.77 points, or 0.12%, at......

Australia shares slip on tech, healthcare losses

Reuters
* Healthcare stocks fall as Aussie dollar firms * Miners benefit from soaring copper prices * Gold stocks up as bullion prices climb (Updates to close) Feb 22 (Reuters) – Australian shares closed slightly lower on Monday as losses in healthcare and tech stocks outweighed gains in miners, while Macquarie......

Glencore reinstates dividend as 2020 net debt drops

Reuters
JOHANNESBURG, Feb 16 (Reuters) – Glencore on Tuesday reinstated its dividend after net debt fell by 10% in its full-year 2020, helped by surging commodity prices in the second half The commodities trader and miner which scrapped its dividend in August last year after a first-half loss amid the COVID-19......

Norway union, oil firms agree wage deal, averting strike

Reuters
OSLO, Feb 16 (Reuters) – Norway’s oil industry employers struck a wage bargain with the Safe labour union on Tuesday, preventing a strike at the Mongstad crude terminal and shutdowns of major offshore oil and gas fields, Safe told Reuters. Operator Equinor had said a strike could reduce Mongstad’s storage......

GRAPHIC-Take Five: Here comes the bull

Reuters
1/GONG HEI FAT CHOY! It’s the Lunar Year of the Ox. Since the same Chinese character can be used to denote a bull, some investors might see that as a good omen for world markets. Higher bond yields could spoil the party at some point, but for now equity markets......

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