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Official: Hamas security forces have killed 32 members of the Gaza "gang"
A Palestinian security source reported on Monday that Hamas forces had killed 32 members from "a gang" after the ceasefire was declared on Friday. Six of their personnel were also killed. Officials said that the operation to secure Gaza City targeted members of "a dangerous gang associated with a Gaza City family". Officials said that the operation led to 24 arrests and 30 injuries. The Hamas-run Interior Ministry of Gaza has deployed its security forces since the ceasefire that ended the war with Israel. It has said this is to prevent the creation of a security vacuum which would lead to lawlessness and looting. Donald Trump, the U.S. president, has asked Hamas to disarm as part of a plan that aims to end the Gaza War. However, he also indicated the group had the green light for its internal security operations. He said they were "trying" "to solve the problem", and "we approved them for a time period". RIVALS TO HAMAS The official didn't identify the gang, but there are several clans that have been rivals of Hamas for years. They only became more vocal as the war progressed. There have been a number of clashes. The official did not confirm that the gang belonged to the group headed by Yasser Ab Shabab, the most prominent anti Hamas rebel. He is based at Rafah, in the southern Gaza area, which Israel controls. Hamas accuses Abu Shabab, his supporters and their collaborators of working with Israel. He denies having any contact with Israel or receiving Israeli support. Hamas' security official stated that a senior Abu Shabab aide "has been liquidated", since the security campaign began with the ceasefire. He also said that the hunt for Abu Shabab is underway. He added, "The campaign will continue and escalate until the issue is resolved. No party will be permitted to violate law." (Reporting and writing by Nidal Al-Mughrabi, editing by William Maclean & Ros Russell; Writing by Tom Perry)
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Copper prices rise as US-China tensions ease
Prices of copper rose on Monday, as optimism about easing tensions in trade between the United States of America and China, and increased Chinese imports of this industrial metal lifted sentiment. The benchmark copper price on the London Metal Exchange rose 1% to $10,613 per metric tonne at 0935 GMT. It had dropped more than 3% Friday after President Donald Trump Threatened sharply Tariffs on Chinese imports are higher. Copper shortages are expected to occur in the future Supply disruptions In Indonesia, Chile, and the Democratic Republic of Congo last week, the prospect of U.S. rate cuts, coupled with a weaker currency, helped push prices to a 16-month high of $11,000 per ton. Copper prices rose due to traders' optimism that Trump will scale back his rhetoric as he did before and better prospects for China, the top consumer. China's Copper imports are on the rise Exports grew by 14.1% to 485,000 tonnes in September, compared with the previous month. Diversifying export This year, markets will be away from the United States. The focus elsewhere is on the zinc stocks registered in LME warehouses, which are at 37,475 tonnes, down 70% from mid-July and at their lowest level since March 2023. . The premium on the cash contract for the three-month ahead was pushed higher by concerns about zinc supply on the LME. The price of zinc per ton has reached a three-year high. Zinc for three months rose 0.1% to $3.006. The Shanghai Futures Exchange monitors warehouses and has found that stocks are increasing. This is a factor that undermines the notion of tight supply. . Since the middle of July, they have increased by more than twice that amount. Aluminium traders reported that two companies, 0#LMEWHL>, holding large amounts warrants (title documents conferring ownership) are behind the cash contracts for the three-month ahead contract. The premium has flipped from a lower price earlier in the month. . Aluminium for three months rose by 0.3%, to $2.756, while lead fell 0.7%, to $2.006, and tin slid 1.4%, to $35,645 per ton, while nickel sank 0.4%, to $15,200 per ton.
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India's small-scale steelmakers reduce output due to weak demand and falling prices
India's small-scale steelmakers are facing a weak demand, increasing inventories, and falling prices. This is despite New Delhi having introduced its largest consumer tax cut in eight years, to boost growth and counter steep U.S. Tariffs. India's economy grew by 7.8% during the April-June period, exceeding analysts' expectations. However, a decline in steel demand, reflecting weaker construction, raises questions about whether this rapid growth rate can be sustained. India cut taxes last month on hundreds of consumer goods, including small cars, cement and steel, which are the main sectors that influence the demand for steel, in order to boost consumption and counter the negative impact of U.S. tariffs. Small steel producers in India, which employs more than 1.5million people and accounts for 45% of the country's total capacity of 200 million metric tonnes, have said that they cut production by as much as a third because construction activity is still weak and automobile demand has not yet picked up. The construction industry, which is responsible for almost a third (33%) of the steel consumed, has been slowed by heavy monsoon rainfalls. Meanwhile, rising input costs such as iron ore and electricity are further weighing on the industry. The demand for bottled water began to decline in July. This was a month after India’s monsoon rainy season, which lasts four months, started. Adarsh Garg said, "There's a slowdown and no demand for construction." Garg said that his company had reduced production by about 30%. "We're still waiting for a positive impact from the GST reduction on automotives," he said. He was referring to India's Goods and Services Tax. The first sign of an uneven impact is a weak steel demand. BigMint, a commodities consultancy, said that the weak demand was reflected in the domestic prices of hot-rolled coils, which dropped to a six month low of 49144 rupees (553.55) per tonne in September. BigMint, in a press release, said that prolonged rain and delays or limited purchases as a result of site disruptions during construction projects were affecting steel demand. Vedant Goel is the director of Enlight Metals. He said, "I don't think that things will improve until December." Nitin Kabra of Bhagyalaxmi rolling mill said that trade tariffs affect consumer industries exposed to the U.S. They are impacting their spending, which in turn contributes to a lower demand for steel. The weakening of demand is in stark contrast to last year when strong consumption drove suppliers from China and Japan to flood the Indian Market, prompting the Government to impose a Temporary Tariff in April in order to curb low-cost imports.
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Official: Hamas security forces have killed 32 members of the Gaza "gang"
A Palestinian security source reported on Monday that Hamas forces had killed 32 members from "a gang" after the ceasefire was declared on Friday. Six of their personnel were also killed. Officials said that the operation to secure Gaza City targeted members of "a dangerous gang associated with a Gaza City family". Officials said that the operation led to 24 arrests and 30 injuries. The Hamas-run Interior Ministry of Gaza has deployed its security forces since the ceasefire that ended the war with Israel. It has said this is to prevent the creation of a security vacuum which would lead to lawlessness and looting. Donald Trump, the U.S. president, has asked Hamas to disarm as part of a plan that aims to end the Gaza War. However, he also indicated the group had the green light for its internal security operations. He said they were "trying" "to solve the problem", and "we approved them for a time period". (Reporting and writing by Nidal Al-Mughrabi, editing by William Maclean.)
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Australia consults on critical mineral stockpile before Albanese and Trump meeting
Industry sources say that Australia is preparing a plan to manage its vital minerals reserve. The plan will be based on the sale of future production and reduce the need for physical stockpiles, they said. Four sources with knowledge of the matter say that Australia's Critical Minerals Task Force hosted a conference call with project developers and miners last week to increase industry consultations. By the end of this year, the task force hopes to finalise its policy recommendations on the structure of an A$1.2 billion (782 million dollars) stockpile for minerals it believes are vulnerable to disruptions in supply. The stockpile is expected be completed by 2026, with a focus on rare Earths. Previously, it was reported that Australia would be willing to sell its reserves to allies including Britain. Australia is pushing for this move as it seeks to capitalize on its strategic importance as an important supplier to its allies in advance of the meeting between U.S. president Donald Trump and Prime Minister Anthony Albanese, which will take place on October 20th in Washington. The Australian resource and trade ministers declined to comment. Beijing tightened its export restrictions for rare earths last week ahead of the talks between Trump, and Chinese President Xi Jinping scheduled at the end the month. China produces 90% of processed rare earths, rare earth magnets, and other rare earth products in the world. It has used export restrictions as a way to reduce shipments and increase global concern about supply chain vulnerability. Don Farrell, Australian trade minister, told ABC that Australia has a vast supply of critical minerals the world will need to decarbonise the planet, build data centres and process AI. He said that a wide range of customers was needed to both provide the capital for the extraction and to guarantee a market to sell the critical minerals. "We have been in contact with Europeans, Japanese, Koreans and we are also talking to Americans." 'LISTEN MODE' Sources claim that government officials are eager "to listen" and show their listening mode. According to one person, companies were asked to submit written submissions. Instead of stockpiling metals critical to the future, governments participating in this agreement would agree upon annual supplies and miners would then sell these metals directly through consumers. The volume of this supply would be deducted from any bilateral agreement. One of the sources stated that "it's more like an instrument financial than a stockpile." Australian officials are yet to decide how risk management will be handled for smaller markets, such as heavy rare earths. The majority of world prices are linked to a China based index which Western developers claim is artificially too low. The U.S. Government offered an unprecedented multi-billion dollar deal earlier this year to support MP Materials, its leading rare earths producer. This included a mandatory minimum price for buyers. Australia said that it was considering a plan similar to this, but sources stated that it would be looking to reduce its financial risk. In an ideal world Australia would not spend money, but act more as a facilitator. The other countries (consumer) would then underwrite a minimum price. One source stated that another idea is to have Australia contribute trades or materials in order to support a "functioning Western Price Index". One source stated that this idea is unlikely to succeed because the market size is too small for it to be liquid.
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Positive data on iron ore outweighs Sino-US trade tensions
Iron ore futures rose on Monday, as concerns about renewed Sino-U.S. tensions in trade were outweighed by the robust steel exports from China, which is its top consumer. As of 0808 GMT the benchmark November iron ore traded on Singapore Exchange increased by 0.79%, to $107.2 per ton. It had previously reached its highest level since 22 September, at $107.45. The January contract for iron ore on China's Dalian Commodity Exchange rose by 1.13%, reaching its highest level since September 26. It now stands at 804.5 Yuan ($112.82) per ton. After robust steel exports, September's improved sentiment helped to boost prices of the main steelmaking ingredient. Mysteel, a consultancy, reported that lower shipments of ore from Australia and Brazil were supportive of the price of ore in the week ending October 12. Mysteel's data shows that the firm demand for hot metal among Chinese steelmakers was 2,42 million tons per day in the week ending October 10. This is 3.6% more than the same time last year. Prices rose, but the gains were tempered by the renewed trade dispute between the two world's largest economies. Donald Trump, the U.S. president, announced that he would impose additional duties of 100% on China’s exports to the U.S., as well as new export controls for "any and all essential software" on November 1 after China announced it would expand restrictions on rare-earth elements, which are vital to semiconductor and defence sectors. Analysts said that this had a negative impact on prices and prompted hopes for China to introduce stimulus measures in order to offset the effects. ANZ analysts stated in a report that "Fiscal Measures may be implemented if necessary to mitigate any potential shocks related to trade". Coking coal, coke and other steelmaking materials fell by 1.63% et 1.14% respectively. The benchmark steel prices on the Shanghai Futures Exchange have fallen. Rebar fell by 0.77%, while hot-rolled coils dropped 0.88%. Wire rod also lost 1.64%, and stainless steel was down 1.59%. ($1 = 7.1310 Chinese yuan). (Reporting and editing by Amy Lv, Lewis Jackson)
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LMEWEEK - LME will roll out premium prices for sustainable metals
London Metal Exchange (LME), announced on Monday, plans to introduce a new method to determine how much premium customers will pay for metals that are produced with less carbon and meet other sustainability standards. Some miners claim that their metals made with renewable energy cannot compete with the cheaper output made using coal. The LME has rejected the introduction of separate sustainable metals contracts at the exchange. They argued that it would dilute the liquidity. Matthew Chamberlain, CEO of the Chamberlain Group, said that many end users are reluctant to pay more for products that are sustainable. For some metals however, there may not even be a premium. POTENTIAL ZERO PREMIUM In an interview with industry group LME Week, he stated: "If there's no sustainability premium, we'd be happy to publish zero." "I think it is more important to know that there's a premium than not knowing there's one." The LME is expanding its partnership with the digital platform Metalshub which already trades nickel that has low carbon emissions. If they meet certain sustainable standards, LME copper, aluminium and nickel brands will be eligible to trade on Metalshub's sustainable section. The LME stated that these include maximum carbon footprints, and third-party standards for sustainability, which are based on internationally recognized methodologies. Hong Kong Exchanges and Clearing Ltd. has established a new Dubai-based company to independently determine premium prices. Commodity Pricing and Analysis Limited will calculate bids, offers and assessment if not enough transactions are made on Metalshub. The LME reported that since March of last year, Metalshub has traded 488 metric tonnes of low-carbon Nickel. The LME, which has been around for 148 years, published a paper discussing the method it intends to use to calculate premium prices. Frank Jackel of Metalshub in Germany said that the addition of copper and aluminum to the platform would increase the volume of the platform. He said: "This is in line with our vision of more and more trading taking place on digital platforms, and trading venues such as ours." The markets need to be more efficient, and trading over the phone or by email is no longer acceptable. (Reporting and editing by Susan Fenton; Eric Onstad)
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Shanghai Copper falls as tensions between China and the US escalate
Shanghai copper fell on Monday as trade tensions between China and the United States escalated after President Donald Trump threatened to increase tariffs sharply. In response to Beijing's recent expansion of its controls on rare earth exports, the U.S. President threatened on Friday to impose a 100% additional tariff on imports coming from China as well as new export controls for critical software. China blamed Trump for the escalation on Sunday, accusing him of hypocrisy. Beijing has not taken any further countermeasures in advance of a possible meeting between Trump, the Chinese president Xi Jinping, and South Korea's President Moon Jae-in later this month, which Trump had threatened to cancel. The Shanghai Futures Exchange's most active copper contract closed the daytime trade down 1.77% at 85,000 yuan per metric tonne ($11,919.45). The benchmark three-month price of copper at the London Metal Exchange rose 0.92%, to $10,615 per ton, by 0708 GMT. It had fallen over 3% the previous session. Analysts at Chinese broker GF Futures say that the price of copper is rising due to the short term impact of Trump’s tariff threat. However, supply issues caused by a series mine disruptions are continuing to support its price. After Freeport declared force majeure last month at its flagship Grasberg Mine in Indonesia, investors have been buying copper. Aluminium fell by 0.9% among SHFE's base metals. Zinc dropped by 0.52%. Nickel tumbled by 1.91%. Tin fell 2.2%. Lead was the only metal to gain, gaining 0.15%. The LME metals market saw aluminium up 0.31%. Zinc was up 0.55%. Nickel fell 0.36%. Lead dropped 0.62%. Tin fell 1.21%. $1 = 7.1312 Chinese Yuan Renminbi (Reporting and editing by Eileng Soreng and Ronojoy Mazumdar).
Task force claims that a clove farm in Lampung, Indonesia has Caesium-137 contamination
The contamination is not widespread and is only limited to a clove farm located in Lampung, Indonesia, according to a task force that investigates contamination cases. Bara Hasibuan, the task force's spokesperson, said that cloves from the Sumatra farm will not be sold before further laboratory testing. Authorities are still searching for the source of contamination.
The task force didn't disclose any further details about this farm.
Indonesia has been investigating cases
radioactive contamination
The task force has been in contact with the International Atomic Energy Agency (IAEA) and U.S. authorities.
The contamination was
first detected
In a batch shipped to the United States by a local firm in August. The U.S. imposed
New certification requirements
Imports of shrimp and spice from Indonesia.
Then, you can get started.
Modern Cikande Industrial Estate
Bara stated that authorities conducted radioactive scans at the processing plant, which is 68 km from Jakarta. They are also considering moving nearby residents.
The task force reported last week that it found Caesium-137 in 22 industrial facilities.
According to the U.S. Food and Drug Administration website, Caesium-137 is a dangerous radioactive isotope. It usually enters the atmosphere as a result nuclear testing or accidents such as Chernobyl and Fukushima.
Caesium 137 is not produced in Indonesia, nor are there nuclear weapons or power plants.
(source: Reuters)