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European industry hit hard by Trump tariffs, Salzgitter CEO warns
DUESSELDORF/FRANKFURT, June 2 (Reuters) - Salzgitter, Germany's second-biggest steelmaker, on Monday warned that Washington's tariff policy was dealing a severe blow to European industry, its CEO said after the U.S. administration unveiled plans to double steel import levies to 50%."An i...Reuters
Mon, Jun 2
London copper rises on weaker dollar, but US-China trade conflict caps gains
By Hongmei Li SINGAPORE, June 2 (Reuters) - Copper prices in London climbed on Monday, supported by a weaker dollar, although renewed U.S.-China trade tensions raised supply chain concerns and limited further upside in metal prices.Benchmark three-month copper on the London Metal Exchange (LME) C...Reuters
Mon, Jun 2
Trump's steel tariff plan to have 'minor' impact on India, says minister
NEW DELHI, June 2 (Reuters) - The impact from U.S. President Donald Trump's plan to increase tariffs on steel and aluminium products is likely to be "minor" as India does not export steel to the U.S. "in a big way", federal steel minister HD Kumaraswamy said on Monday.Reuters
Mon, Jun 2
PRECIOUS-Gold prices climb as tariff jitters lift safe-haven demand
Trump says he plans to double steel, aluminium tariffs to 50%Russia and Ukraine step up the war on eve of peace talksFed Chair Jerome Powell due to speak later in the dayBy Anmol Choubey June 2 (Reuters) - Gold prices rose more than 1% on Monday as an escalation in the Russian war in Ukraine and ...Reuters
Mon, Jun 2
TECHNICALS-CBOT soybeans may test support of $10.33-1/2
For more technical analyses, please click SINGAPORE, June 2 (Reuters) - The CBOT soybean July contract SN25 may test support of $10.33-1/2 per bushel, a break below which could open the way toward $10.22.The current fall is classified as a correction on the uptrend from $9.85. A retracement analysis...Reuters
Mon, Jun 2
PRESS DIGEST- New York Times business news - June 2
June 2 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.- The United States allowed its rare earth metals industry to move to China and could now face severe economic disruption as China l...Reuters
Mon, Jun 2
Silver Price Forecast: XAG/USD holds steady above $33.00 mark, seems poised to climb further
Silver (XAG/USD) edges higher at the start of a new week and retakes the $33.00 mark during the Asian session, reversing a part of Friday's losses. The intraday uptick, however, lacks bullish conviction, warranting some caution before positioning for any meaningful appreciating move.
Fxstreet
Mon, Jun 2
Flex LNG Completes $175 Million Lease Financing For Flex Courageous
June 2 (Reuters) - FLEX LNG Ltd FLNG.OL:COMPLETES $175 MILLION LEASE FINANCING FOR FLEX COURAGEOUSREFINANCING GENERATES $42 MILLION NET PROCEEDS, EXTENDS DEBT MATURITY TO 2035ON TRACK TO COMPLETE REFINANCING OF FLEX RESOLUTE AND FLEX CONSTELLATION IN H2 2025Reuters
Mon, Jun 2
WTI climbs to near $62.00 amid renewed trade tensions
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $61.90 during the Asian trading hours on Monday. The WTI price jumps due to ongoing tariff uncertainty and the persistent geopolitical tensions in the Middle East.Fxstreet
Mon, Jun 2
GRAINS-Soybeans fall for second session on improved weather, demand worries
Soybeans drop to three-week low on concerns about demandWheat supported by US winter crop condition; corn easesBy Naveen Thukral SINGAPORE, June 2 (Reuters) - Chicago soybeans lost more ground on Monday, with the market trading near its lowest in about three weeks on pressure from beneficial weat...Reuters
Mon, Jun 2
PRECIOUS-Gold prices climb on softer dollar, Trump's fresh tariff threat
June 2 (Reuters) - Gold prices climbed on Monday as U.S. President Donald Trump threatened to double tariffs on imported steel and aluminum, while a weaker dollar also supported greenback-priced bullion.FUNDAMENTALS* Spot gold XAU= was up 0.6% at $3,309.89 an ounce, as of 0056 GMT. U.S. gold futures...Reuters
Mon, Jun 2
Gold Price Forecast: XAU/USD holds above $3,300 on economic uncertainty, geopolitical risks
The Gold price (XAU/USD) rebounds to around $3,310 during the early Asian trading hours on Monday. Ongoing tariff uncertainty and persistent geopolitical tensions boost demand for safe-haven assets like gold.Fxstreet
Mon, Jun 2
Goldman Sachs sees OPEC+ raising oil output by 0.41 mb/d in August
June 2 (Reuters) - Goldman Sachs anticipates the eight country OPEC+ oil group will implement a final 0.41 million barrels per day (mb/d) production increase in August, the bank said in a note dated Sunday."Relatively tight spot oil fundamentals, beats in hard global activity data, and seasonal ...Reuters
Mon, Jun 2
GRAINS-Soybeans fall for second session on improved weather, demand worries
SINGAPORE, June 2 (Reuters) - Chicago soybeans lost more ground on Monday, with the market trading near its lowest in about three weeks on pressure from beneficial weather in the U.S. Midwest and uncertainty over biofuel demand.Wheat and corn prices inched higher in early Asian trade.FUNDAMENTALS* T...Reuters
Mon, Jun 2
South Korea to discuss 50% tariff on steel products with US, ministry says
SEOUL, June 2 (Reuters) - South Korea's Industry Ministry said on Monday it will respond to the new 50% U.S. tariff on steel products as part of the country's ongoing trade discussions with Washington in order to minimise the impact on industry.The ministry held a meeting with officials from...Reuters
Mon, Jun 2
TECHNICALS-Commodities intraday targets/key levels
For more technical analyses, click SINGAPORE, June 2 (Reuters) - Contract Target Support/Resistance Brent oil $64.38/$64.80/$65.31sup $63.46/$63.11/$62.64Palm oil (3rd month)--WTI* $63.06sup $61.47/$60.97/$60.48Spot gold$3,324/$3,330/$3,348sup $3,304/$3,291/$3,272LME copper (3rd month)*$...Reuters
Mon, Jun 2
Goldman Sachs sees OPEC8+ raising oil output by 0.41 mb/d in August
June 2 (Reuters) - Goldman Sachs anticipates OPEC8+ will implement a final 0.41 million barrels per day (mb/d) production increase in August and maintain steady production levels starting in September, the bank said in a note dated Sunday.Goldman maintained its cautious oil price forecast, projectin...Reuters
Mon, Jun 2
