By Laurie Chen and Lewis Jackson BEIJING (Reuters) -In a hulking grey building just east of Tiananmen square in Beijing, a small team in China’s Ministry of Commerce is deciding the fate of the global auto industry, one rare earth magnet export permit at a time. China holds a near-monopoly on rare earth magnets – …
Analysis-The world’s auto supply chain is in the hands of a few Chinese bureaucrats Read More »
PARIS (Reuters) -Australia offers a secure alternative supply for critical minerals vital to industry, its trade minister Don Farrell said on Thursday, in the face of rising concerns about Beijing’s dominance of the sector. China’s decision in April to suspend exports of a wide range of rare earths and related magnets crucial to sectors ranging …
Australia is ‘safe and reliable’ critical minerals alternative, minister says Read More »
(Reuters) -Automakers and their suppliers are facing shortages due to restrictions on Chinese exports of rare earths, minerals and magnets, an issue that has forced some to shut down production of certain models. Rare earth magnets are used in motors that run electric vehicles and other car parts such as windows and audio speakers. These …
Factbox-Auto companies face shortages due to China’s rare earth restrictions Read More »
By Anushree Mukherjee (Reuters) – Silver has soared to the key milestone of $35 per ounce, reaching its highest level in more than 13 years, propelled by robust industrial demand and ongoing supply deficits, analysts said. Spot silver rose 2.5% to $35.82 per ounce as of 1347 GMT, having touched its highest level since February …
Silver surges past $35/oz level to hit a more than 13-year high Read More »
TOKYO (Reuters) – Japan’s 30-year government bond prices rose after the weakest auction of the securities in more than a year added to pressure on the Ministry of Finance to reduce supply of super-long notes. The bid-to-cover ratio, a measure of demand that gauges the number of bids against the amount of securities on offer, …
Japan’s 30-year bonds rise as weak auction adds to pressure to curtail issuance Read More »
By Aditi Shah, Neha Arora and Aditya Kalra NEW DELHI (Reuters) -India is holding talks with companies to establish long-term stockpiles of rare earth magnets by offering fiscal incentives for domestic production, people familiar with the matter said. Building such a supply chain could take years, but would reduce India’s dependence on shipments from China, …
India plans rare earth magnet incentives as supply threat mounts, sources say Read More »
By Robert Harvey LONDON (Reuters) -Commodities traders could struggle to capitalise on politically driven market volatility rather than supply and demand disruptions in 2025, trading house Trafigura said on Thursday, as it reported a slight rise in first-half net profit. The unlisted Swiss-based trading house reported a 3% rise in net profit to approximately $1.52 …
Trafigura warns of volatility in 2025 as first-half profit inches up Read More »
By Ashley Tang KUALA LUMPUR (Reuters) -Malaysian state energy firm Petroliam Nasional, or Petronas, will retrench about 10% of its workforce in a restructuring exercise, its chief executive said on Thursday. Tengku Muhammad Taufik also denied at a media briefing that the state firm was exiting its business in Canada. Local media has previously reported …
Malaysia’s Petronas to cut 10% of workforce, not exiting Canada, CEO says Read More »
By Thanadech Staporncharnchai and Chayut Setboonsarng BANGKOK (Reuters) – A university dean, a board member at the state planning agency and the head of a state bank are among the seven candidates to Thailand’s next central bank governor, with the selection committee to prepare a shortlist over the next month. By Thursday, four people had …
Four candidates confirm applications for Bank of Thailand Governor Read More »
By Selena Li HONG KONG (Reuters) -Several Asian companies are in talks to list in Saudi Arabia as the kingdom considers a new listing regime to pave the way for share sales of foreign issuers, the chief executive of the Saudi bourse told Reuters. Conversations are underway with Asian companies that are evaluating opportunities to …
Asian companies in talks to list in Saudi Arabia, exchange CEO says Read More »
