Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Materials Up as Bolton Departure Buoys Ag Commodities -- Materials Roundup

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/10/2019 | 04:38pm EDT

Producers of metals and other raw materials rose after the abrupt departure of hawkish White House national-security adviser John Bolton was seen as potentially easing tensions with China.

Soybean futures, sensitive to changes in the outlook for trade relations because China has targeted the crop for tariffs, rose sharply.

"The news about Bolton being fired seems to have sparked a short squeeze across the entire ag sector," said independent trader Dan Norcini, as reported earlier. "He is a super hardliner and the thinking might be that with him gone, a deal with China is much more likely."

One brokerage said the European steel business is close to an inflection point. "We believe the sector is in the last leg of a down-cycle, with capacity cuts in the second half of 2019 and a sharp fall in net imports," as production growth in China slows, said analysts at brokerage Credit Suisse, in a note to clients. The utilization rates at European steel mills are set to drop below the 80% level where prices and profit margins typically rise, and "utilisation rates are the most important determinant of steel companies' profitability," the Credit Suisse analysts said.

China is still struggling with pork shortages and spiking meat prices after a yearlong outbreak of African swine fever decimated pig farms nationwide, The Wall Street Journal reported.

Write to Rob Curran at rob.curran@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
CRB COMMODITY INDEX 0.10% 195.01 End-of-day quote.0.00%
CREDIT SUISSE GROUP AG 2.51% 12.47 Delayed Quote.12.64%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 -0.42% 143.6 End-of-day quote.-3.59%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 -1.60% 110.6 End-of-day quote.-11.48%
SOYBEAN OIL FUTURES (ZL) - CBE (ELECTRONIC)/C1 -0.24% 29.1 End-of-day quote.5.63%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
06:44aNewlat IPO book covered, bourse debut expected on Thursday - sources
RE
06:42aChina seeks $2.4 billion in sanctions against U.S. in Obama-era case - WTO
RE
06:28aTaiwan September export orders fall for eleventh month, rebound seen ahead
RE
06:21aCENTRAL BANK OF SRI LANKA : Unauthorized Foreign Exchange Trading
PU
06:18aSingapore gains on industrial, property firms; Thailand falls
RE
06:09aOil prices fall as global demand concerns grow
RE
06:00aBank of Southern California, NA and CalWest Bancorp, the Holding Company for CalWest Bank, Announce Agreement to Merge
SE
05:56aAFL CIO AMERICAN FEDERATION OF LABOR AND CONGRES : These European Corporations Abuse the Rights of Working People in America's Southern States
PU
05:56aNATIONAL BANK OF SERBIA : IMF–WBG Annual Meetings – Serbia Committed to Implementing Reforms and Boosting Economy
PU
05:51aDEUTSCHE BUNDESBANK : Invitation to bid for 6-months Bills of the European Stability Mechanism (ESM)
PU
Latest news "Economy & Forex"