Europe

According to three sources, the commodity trader Mercuria intends to remove large volumes of aluminum from LME storage facilities, as the closure of the Strait of Hormuz has 'frozen' Middle East shipments, and put further pressure on supplies in Europe, and the United States. Around 9% of global primary aluminium is produced in the Middle East. Since last week, the U.S. and Israeli war on Iran has closed the Strait of Hormuz. Mercuria, a Swiss company, cancelled or designated for delivery on Monday nearly 100,000 tons?of aluminium in LME-approved Port Klang warehouses. The sources who are familiar with the issue...

Brazilian sugar and ethanol ?producer Raizen said on Wednesday it had reached an ?out-of-court agreement with ?creditors and bondholders ?to restructureapproximately ?65.1 billion reais ($12.61 billion) in debt obligations. The company is a joint-venture between Shell, an oil giant listed in London, and Brazilian conglomerate Cosan. It has been in talks for months to find ways to improve its capital structure and reduce its debt. Raizen stated in a?security filing that creditors who hold 47% of the company's unsecured debt had already endorsed this plan. The company has 90 days to get enough?support to receive final approval. After that, the...

Calculations showed that the price of Russian crude oil, used to tax the country, has exceeded the budget target?for the first time since Jan 2025?because?of?the rise in global prices due to the Iran War. Since the beginning of the war in Ukraine, in 2022, Russia has increased its military spending, increasing its deficit. In January-February, it was 3.45 trillion Russian roubles (43.70 billion dollars), or 1.5%. The Iran War, which involved U.S., Israeli and Iranian strikes on Iran, and Iranian strikes against Israel and U.S. military bases, as well as Gulf states has fueled a significant increase in demand for...

The price of British government bonds?fell dramatically in early trade on Tuesday, as the markets questioned if the plans for a record releasing?of oil reserve could offset any potential supply shocks resulting from the U.S. and Israeli war against Iran. As of 0906 GMT the short-dated gilt yields were up around 12 basis points, completely erasing Tuesday's large drops. Investors have also reduced their bets for a Bank of England rate cut in this year. The probability is now?roughly 20 percent, down from 50 percent a day ago. The British public is more vulnerable to a shock in energy prices...

'Britain and its allies are working on a variety of options to support commercial shipping in the Strait of Hormuz despite iranian threats. The spokesman for Prime Minister Keir 'Starmer said that Tuesday, as the U.S. - Israel war against Iran is roiling oil prices. Donald Trump, the U.S. president, has said that the war will end "soon." He also stated that the U.S. would escalate its attack if Iran attempted to block tanker traffic in the Strait of Hormuz. Downing Street read out a statement after speaking with the leaders of Germany, Italy and France late on Monday. They...

Each financial market crisis differs, but they all rhyme. Parallels are emerging between the 'tremors' now rippling across private credit and the subprime housing in the U.S. that led to 2007-09 Global Financial Crisis. It's not to say that a replay of the historic crash is imminent. There is a growing danger that the increasing stress in the private credit market - i.e., the lack of liquidity, the opaque pricing and the soaring redemptions – could spill?over into the public markets. BlackRock, with its $14 trillion in assets under management, announced?on? Friday that it had limited withdrawals after an influx...

The German fashion group Hugo Boss announced a better-than expected annual operating profit on Tuesday, despite a difficult market environment. It also said that it has not yet felt the impact of the Middle East conflict. The company's earnings before interest and tax (EBIT), which were 391 million euro ($455million) in 2025, are up from 361 millions euros a year ago, and well above the average analyst forecast of 379million euros, according to a poll conducted by the company. Early trading saw a 4% rise in shares of the company. The stock has risen 1.3% from the beginning of the...

These are the most popular?stories from the Wall Street Journal. ? The accuracy of these stories has not been verified by the site. Rio Tinto has said that it is currently in negotiations with Mongolia regarding the Oyu Tolgoi mine, which is one of the largest deposits of?metal required to build data centers and electric vehicles. Shell agreed to sell Jiffy Lube?to Monomoy Capital Partners in a $1.3billion deal. Shell announced that the sale included Jiffy Lube, the?franchisee Premium Velocity Auto, and a network of stores operated by independent franchisees. Eric Trump and Donald Trump Jr. are supporting a new...

Oil prices dropped on Tuesday, after hitting a three-year high in the previous session. U.S. president Donald Trump predicted that the Middle East war could be over soon. This eased concerns about disruptions of global oil supply. Brent futures were down $4.17 or 4.2% to $94.79 per barrel at 0345 GMT. U.S. West Texas Intermediate crude (WTI), however, was down $3.81 or 4% to $90.96 per barrel. Both contracts had fallen as much as 11 % earlier, before reversing some of their losses. On Monday, oil prices soared to their highest level since mid-2022 as Saudi Arabia and others cut...

Investors now seriously consider the possibility that a war in the Middle East may create a stagflationary shock, as it did fifty years ago when disruptions to global energy supply sent inflation soaring and harmed growth. Kaspar Hense is the portfolio manager of RBC BlueBay Asset Management. If oil prices continue to rise, the safe-haven status for government bonds, and all other assets, is at risk. Five charts show how stagflation could affect the markets. OIL IS THE KEY Oil prices are at the forefront of the stagflation debate, and now the question is: how long can they continue to...

During a 'online meeting' with the Group of Seven Finance Ministers, Satsuki Katayama, Japanese Finance minister told a press briefing that IEA called for a coordinated release?of emergency?oil reserve during a?online meeting on Monday. Katayama stated that the IEA had asked each country to release oil reserves in a coordinated manner. "In response to current conditions... the G7 has agreed to closely monitor developments on the energy?market, and to take the necessary measures to support the global energy supply. This includes releasing oil reserves." Katayama stated that the IEA and the Ministers were joined by executives from the World Bank,...

Investors are rethinking popular themes and trades of 2026 due to the escalating conflict in the Middle East. Global equities have plummeted, the dollar has risen and traders have reduced their bets on rate cuts by the Federal Reserve. Investors have been preparing for growth this year. "A stagflationary surprise was not part of the plan", said ING's head of global markets Chris Turner. Investors are cautious and still have more to unwind. Here are five popular topics that have been "upended" by the conflict in Middle East. 1/ DOLLAR SHORTS SQUEEZED According to data released by the U.S. regulator...

CleanTech Lithium will formally begin the search for "a strategic partner" for its Laguna Verde Lithium project after publishing a prefeasibility report later this month. The process is expected to take between nine and twelve months, according to Chief Executive Ignacio Mehech. The timeline provides a better idea of how fast the London-listed firm hopes to progress one of only a few private-sector projects in Chile that are moving forward. New supply has not been forthcoming despite high long-term expectations. CleanTech announced on Tuesday it had 'agreed contractual terms with Chile’s mining ministry for an exclusive lithium operating contract (CEOL)?for...

Rio Tinto increased its offer of a?aluminum premium to?Japanese customers to $350 per ton for April-June primary shipments. This is up 79% compared to the current quarter. The revised offer, which is 40% more than Rio's prior proposal of $250, would, if accepted by the client, be the highest premium since the April-June 2015 quarter, when it reached $380 per ton. Japan is the largest?Asian metal importer and the premiums it agrees to pay each quarter for primary metal shipments over the London Metal Exchange cash price are the benchmarks for the region. Global?producers in late February offered Japanese buyers...

Rio Tinto announced the first commercial shipment of lithium carbonate from its Rincon project, located in Salta Province in Argentina. This marks the official start of exports. In a late-Monday statement, the company said that a?shipment of?200 tons in 10 containers had left the Port of Buenos Aires for Shanghai, China. It will be received at a warehouse and distributed in Asian markets. The Rincon project will add a production capacity of 53,000 tons per year of battery-grade lithium carbonate starting in 2028. Anglo-Australian Mining Company, a mining company based in the United States, said that Argentina is a key...

The Financial Times reported that Mongolia wants to renegotiate "unfair" terms for Rio Tinto's Oyu Tolgoi copper mine worth $18 billion. The newspaper reported that the Mongolian Prime Minister, Gombojavyn Zaandanshatar, warned Rio in a Monday meeting about the "unfairness" of the current deal. He added that the "situation feels like the Mongolians and their parliament are being misled", the paper said. The report stated that Zandanshatar, along with other government officials, will meet Rio executives this week, including head of copper Katie Jackson to discuss the terms of the deal. Mongolia holds 34% of Oyu Tolgoi - one of...

Customs data showed that China's imports of iron ore in the first two months 2026 increased by 10% compared to a year ago, thanks to stronger exports from Australia, a major supplier, and a higher level of domestic demand. In January and February of this year, the world's biggest iron ore consumer imported 210.02 metric tons. This is up from 191.36 metric tons in previous years. Alexis Ellender is an analyst with the ship tracking firm Kpler. She said that this growth was due to Australia's strong exports in December. China combined import data from January and February in order...

The iron-ore pellet manufacturer?Ferrexpo warned on Monday of "material 'negative consequences" unless they secure alternative?banking agreements after a collapse in a Swiss banking partner MBaer, which sent shares down 4%. Ferrexpo AG's Swiss subsidiary (FAG), had a banking arrangement with MBaer Merchant Bank AG. The bank is slated to be closed by the Swiss financial regulator for alleged money laundering violations and breaches of sanctions against Iran and Russia. Ferrexpro used the bank for 'commercial payments outside Ukraine' and said that MBaer holds about $3 million with FAG. Ferrexpo stated that the collapse of Ferrexpo's Ukraine subsidiaries will not have...

Aluminum prices rose 'again' on Friday, after breaking a three-day winning streak in the previous session. They were on their way to their biggest weekly increase in more than 18-months as a result of?supply -concerns resulting from the U.S.-Israeli war against Iran. As of 1050 GMT, the benchmark three-month aluminum on the London Metal Exchange had increased by 1.5% to $3,346.50 a metric tonne. Aluminium, a metal used for packaging and transportation, reached a four-year high of $3.418 per metric ton on Wednesday. The Mideast crisis was threatening to stop shipments. LME aluminum was expected to rise 6.6% in the...

Michael Flacks, the CEO of Flacks Group, said that if current attempts to sell Thyssenkrupp's steel division fail, they would be "ready" to bid for it. Thyssenkrupp and Jindal Steel International have been in discussions since the autumn about a possible sale for Thyssenkrupp Steel Europe. However, these discussions are yet to produce a formal bid. Flacks Group was selected by Italy in 'December' to conduct exclusive negotiations on the sale Acciaierie d'Italia, a bailed out steel company. Flacks stated that "our main interest in Italy is now, but we're interested in major companies and, if talks about an acquisition...

Aluminium Bahrain, one of the largest smelters in the world, informed customers that it had halted all shipments because of the "widening" Middle East conflict. This exacerbated supply concerns following a Qatari melter shutdown the day before. After the news, the London Metal Exchange saw an increase of up to 5.1% in aluminium prices to $3,418 per ton, the highest since April 2022. Analysts said that prices could rise even further, since about 8% world supply is made in the region. Goldman Sachs stated on Monday that prices could reach $3,600 per ton if the production in this region is...

SSR Mining, a Canadian company, announced on Wednesday that it had signed a binding agreement to sell its 80% stake in Turkey’s Copler Mine to Cengiz Holding A.S. in exchange for $1.5 billion. This boosted its stock by more than 12%. The gold miner also said that it was'reviewing its remaining platform in Turkey including a 20% interest in the Hod maden development project. The deal, which is expected to be completed in the third quarter of this year, will cover all SSR's mining licenses and assets located in eastern Anatolia. This includes Copler and nearby satellite deposits. Cengiz Holding...

On Wednesday, copper prices recovered from two sessions of losses due to better than expected private factory data from China, the top metals consumer. The aluminium price rose to its highest level in more than a month, on the back of supply concerns resulting from the escalating conflict in the Middle East. This region is a major producer of this metal. The benchmark three-month copper price on the London Metal Exchange rose 1.5%, to $13,150 per metric ton at 1030 GMT. LME copper has fallen 3% in the last two sessions due to fears that the Mideast conflict will hinder...

Germany's leading industrial union is 'fighting for more power' at Tesla's gigafactory near 'Berlin', where staff will vote for a new work council following a campaign that was marked by mudslinging and court challenges. The voting began at Tesla's Gruenheide factory, the only European production facility of the U.S. electric vehicle maker. Results are expected on Wednesday. The current council is dominated largely by non-unionists. The IG-Metall union has 116 candidates running to gain a simple majority of 19 seats. The union won 16 seats in the previous election, two years ago, when the council held 39 seats. IG Metall...