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China has stepped up domestic output of refined zinc this year, but the Shanghai market continues to be plagued by low inventory and tight time-spreads. China's imports, exports and net trade in refined zincRETURN TO THE IMPORT MARKETChina was a consistent net importer of refined zinc over the last decade, but that changed in 2022. Shanghai zinc stocks seasonal patterns over 2020-2023LOW INVENTORYShFE registered stocks stand at a modest 43,181 tons. Sentiment, however, holds the real key to the Shanghai premium. The country's trade in refined zinc may prove a useful mirror on that question over the next few months.

Persons: Cash, It's, Jan Harvey Organizations: Share, Shanghai Futures Exchange, London Metal Exchange, Shanghai Metal, Citi, Reuters, Thomson Locations: Eritrea's, Asmara, Eritrea, China, Shanghai, Europe, Turkey, U.S, Antwerp, Singapore, Malaysia's Port Klang, Kaohsiung, Guangdong, London

NEW YORK/LONDON, Aug 10 (Reuters) - Lean times faced by many U.S. and European companies may last longer than expected as they try to sell off their bulging inventories in an economic climate where demand is stalling. Full-to-bursting warehouses means fewer orders for manufacturers, which translates into lower levels of business activity and, ultimately, weaker growth. Now, global demand is falling as borrowing costs have risen, so companies have started running down stocks. Maersk controls about one-sixth of global container trade, transporting goods for a host of major retailers and consumer goods companies. Refinitiv I/B/E/S data shows U.S. and European companies are expected to report their worst quarterly results in years.

Persons: Vincent Clerc, Hugo Boss, Moller, Stanley Black, Decker, destocking, Levi Strauss, Rajiv Sharma, Arun Sundaram, Guillermo Novo, Cyrus de la Rubia, Siddharth Cavale, David Gaffen, Josephine Mason, Mark John, Jonathan Cable, Helen Reid, Jane Merriman Organizations: U.S, Maersk, Heineken, 3M, . Bureau of Labor Statistics, CFRA Research, Retailers, BASF, London, Rutgers University, Hamburg Commercial Bank, doesn't, Thomson Locations: Ukraine, U.S, United States, Ashland, Hamburg, New York, London

Eva Marie Uzcategui | Bloomberg | Getty ImagesIt's not your imagination: Companies are getting stingier with customer rewards. Raising the barSome of the biggest shifts in customer perks have come in the airline industry. At many retailers, customers must now pay a return fee if they want to ship back unwanted clothing, shoes or other items. "To drive that online demand, free shipping and free returns were put in place, but now we all know it costs significant money," he said. Both companies aim to make sure membership isn't shared with people who aren't paying, particularly as the companies chase new avenues of growth.

Persons: Eva Marie Uzcategui, Dunkin, Cowen, David Garfield, Yuping Liu, Stephanie Keith, Marshal Cohen, Circana, Nordstrom, Christopher Dilts, Kohl's, Macy's, they're, Amit Sharma, Heidi Isern, Levi Strauss, Ann Taylor, Crocs, Brooks, reining Organizations: Brickell City Centre, Bloomberg, Getty, Retailers, Ross, uptick, American Airlines, Delta Air Lines, United Airlines, Old Dominion, Strome School of Business, LaGuardia, American Express, American, IRI, NPD, Urban Outfitters, Abercrombie, Fitch, Nordstrom, Amazon, Foods, Netflix, Costco Locations: Brickell, Miami , Florida, Queens, New York, Delta, Schaumburg , Illinois

The flagship Saatva Classic mattress in Queen size goes from $1,995 to $1,495, even if that's all you have in the cart. Limited-Time Deal Saatva Classic Mattress (Queen) The Saatva Classic Mattress is designed to suit a variety of sleeping styles and features a plush top for luxurious comfort. Take $500 off any Saatva purchases of $1,000 or more in this sitewide sale. Right now, you can save $500 off its regular price in a Saatva sitewide sale that takes $500 off purchases $1,000 or more. Shop more sleep deals at Saatva: Mattresses, frames, bedding, and more

Persons: Saatva, James Brains, It's, There's

We pay nearly $2,600 a year for homeowners insurance, flood insurance, and an umbrella policy. See Insider's picks for the best homeowners insurance companies »Our insurance coverageYou might be wondering what kind of hurricane insurance we have. You can get flood insurance, windstorm insurance, and homeowners insurance. And when someone, especially a Floridian, talks about hurricane insurance, they're usually talking about a combination of these policies. We have a combination of homeowners insurance and federally-backed flood insurance through FEMA.

Persons: —, I'd, I've Organizations: Service, FEMA, The Florida Department of Health Locations: Florida, Northeast, United States

☆ Everyone wants to know when consumer demand is going to come back for real. Here's what FedEx execs are watching.
▼ + stars: | 2023-06-23 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

FedEx's massive overhaul is showing early signs of success but package volumes are still down. For the year ahead, FedEx expects moderate revenue growth of between 1% and 3% year over year. FedEx is expecting package volumes to finally bounce back after five straight quarters of declines. FedEx's guidance for the next 12 months includes moderate revenue growth, somewhere between 1% and 3% year over year. "Green shoots," or signs of potential revenue growth, are beginning to show in Europe however, she said.

Persons: We're, Raj Subramanian, Morgan Stanley, Brie Carere, Carere, hasn't, Jason Furman, Mike Lenz, Subramanian Organizations: FedEx, Tuesday, Target, Harvard Locations: Europe, North America, Trans

☆ China lithium price rebound to be capped by growing supply - analysts
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +3 min

Production and sales of EVs in May grew by 53.7% and 71.2% respectively year-on-year, data from the China Passenger Car Association showed. Demand from the energy storage sector, the second biggest user of the battery metal, is also growing rapidly. "We are seeing the energy storage market is boosting capacity expansion of LFP (lithium iron phosphate) batteries and cathode materials, which in turn sends pressure to the price of lithium carbonate," Zou said. Zou expects the lithium carbonate price in China to average 300,000 yuan a ton this year. "The May growth seen in the auto market, boosted by short-term policy support, is unlikely to last and lithium prices might fall below 200,000 yuan within this year," he added.

Persons: Price, Susan Zou, Zou, Yang Jing, Chen Junquan, Chen, Siyi Liu, Dominique Patton, Andrew Hayley, Emma Rumney Organizations: China Passenger Car Association, Cell, Rystad Energy, EV, Beijing, China Corporate Research, Fitch, Economic Research Institute, Manufacturers, Thomson Locations: BEIJING, China, Beijing, Shanghai

☆ Citi says buy Albemarle, cites stabilizing lithium prices amid strong electric vehicle demand
▼ + stars: | 2023-06-14 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Lithium provider Albemarle is a top pick on the back of growing electric vehicle demand, Citi says. Analyst Patrick Cunningham launched coverage of a group of chemicals stocks, saying Albemarle is a buy because of its long-term potential. ALB 1D mountain Albemarle shares 1-day Albemarle shares are only up 5.5% in 2023, lagging the S & P 500, which is higher more than 13%. The analyst's bullish view on Albemarle is based on lithium prices, which are starting to rebound from lows at the start of the year. As Cunningham expects lithium production will continue to lag fast-growing demand for electric vehicles, now is the time for investors to snap up shares of Albemarle, he said.

Persons: Patrick Cunningham, Albemarle, Cunningham, — CNBC's Michael Bloom Organizations: Citi, Albemarle Locations: Albemarle

☆ As regional bank stock rally regains steam, investors should watch out for these spoilers
▼ + stars: | 2023-06-13 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +6 min

With the Federal Reserve expected to pause its rate-hiking campaign at this week's meeting, regional banks stocks have made a comeback, but that doesn't mean all the trouble is in the rearview mirror. Still, the upward march resumed on Tuesday, begging the question of what's ahead for bank stocks. As the Treasury sells tens of billions of dollars in Treasury bills, it could pressure bank deposits. Graseck predicts that a reacceleration of deposit outflows would snuff out the bank stock rally. In addition, regional bank earnings estimates, which had been cut severely in March and April, had leveled off in May.

Persons: Jack Ablin, Ablin, outflows, SVB, Aditya Bhave, Bhave, Morgan Stanley, Betsy Graseck, Graseck, Nicholas Colas, Huntington Bancshares, Matt O'Connor, KeyCorp, Albin Organizations: Federal Reserve, Fed, Cresset, Silvergate, Silicon Valley Bank, Signature Bank, PacWest Bancorp, Bank of America, Treasury, DataTrek Research, Citizens Financial Group, Truist, Morgan Stanley U.S, Financials, CRE Conference, Deutsche Bank, TFC Locations: Silicon, Federal, U.S, 2Q23, New York

Any optimism could be punctured, however, by inflation data from China. April's CPI report showed inflation virtually evaporated, highlighting Beijing's challenge to stimulate enough economic activity and growth to kill the threat of deflation. The weak jobless claims figures torpedoed the dollar more broadly, sank Treasury yields, and cooled Fed rate hike expectations. Remarkably, the main measure of U.S. stock market volatility is at a pre-pandemic low, and implied global FX volatility is its lowest in over a year too. Here are three key developments that could provide more direction to markets on Friday:- China CPI inflation (May)- China PPI inflation (May)- South Korea current account (April)By Jamie McGeever; editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Jamie McGeever, Deepa Babington Organizations: Nasdaq, Treasury, Wall, China PPI, Thomson, Reuters Locations: Asia, China, Japan, South Korea

☆ Japan upgrades Q1 GDP as business spending picks up
▼ + stars: | 2023-06-08 | by ( Kantaro Komiya | ) www.reuters.com time to read: +3 min

Japan Q1 GDP growth upgradedHowever, with much of the revised January-March growth driven by inventories, rather than final demand, Tsunoda warned the recovery so far may not be as robust as headline figures suggest. The revised data showed GDP rose 0.4% in October-December, following a 1.5% contraction in July-September. Capital spending rose 1.4%, upgraded from 0.9% and roughly in line with Ministry of Finance data last week that showed manufacturers' business spending grew at the fastest rate since 2015. While consumption growth was downgraded on fresh services-sector statistics, "the broader picture is unchanged that spending on services such as restaurants and hotels contributed positively" to the January-March GDP expansion, the official added. Domestic demand as a whole contributed 1.0 percentage point to the revised first-quarter GDP growth, more than initially estimated.

Persons: restocking, Takumi Tsunoda, Tsunoda, Shinkin's Tsunoda, Kantaro, Pasit Kongkunakornkul, Sam Holmes Organizations: TOKYO, Bank of Japan, Shinkin Central Bank Research Institute, Japan, of Finance, Thomson

☆ Massive fire as Sudanese factions battle for control of arms factory
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +4 min

The paramilitary Rapid Support Forces (RSF), in the eighth week of a power struggle with the army, attacked the Yarmouk complex on Tuesday, witnesses said. Due to the proximity of fuel and gas depots, "any explosion could destroy residents and the whole area", he said. Residents in Omdurman and Bahri reported towering flames were visible after nightfall at Yarmouk as clashes continued there. The RSF quickly seized swathes of the capital after war erupted in Khartoum on April 15. The army and RSF, which together staged a coup in 2021, fell out over the chain of command and military restructuring plans under the transition.

Persons: RSF, Nader Youssef, Omar al, Bashir, Bahri, Khalid Abdelaziz, Nafisa, Aidan Lewis, Mark Heinrich, Cynthia Osterman Organizations: Rapid Support Forces, Reuters, Residents, Army, UNICEF, International Organization for Migration, United, Saudi TV, Al, United Arab Emirates, European Union, United Nations, Thomson Locations: Khartoum, Darfur KHARTOUM, Yarmouk, Bahri, Omdurman, Darfur, Khartoum's Mygoma, Sudan, El Geneina, West Darfur, Jeddah, Saudi Arabia, United States, Al Arabiya

☆ Defense spending lifts US factory orders in April
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

June 5 (Reuters) - New orders for U.S.-made goods rose for a second straight month in April, boosted largely by defense spending, but the overall manufacturing industry continued to struggle under the weight of higher interest rates. Factory orders increased 0.4% after a 0.6% gain in March, the Commerce Department said on Monday. Orders increased 1.4% through April from a year earlier. The Institute for Supply Management last week said its manufacturing PMI contracted for a seventh straight month in May. Excluding transportation, orders fell 0.2%, dropping for a third straight month and to their lowest since February 2022.

Persons: Banks, Dan Burns, Chizu Nomiyama, Paul Simao Organizations: U.S, Commerce Department, Reuters, Federal, Institute for Supply Management, PMI, Civilian, Thomson

☆ Petrobras eyes global expansion as Brazil hopes fade, sources say
▼ + stars: | 2023-06-01 | by ( Marta Nogueira | ) www.reuters.com time to read: +4 min

[1/3] A worker walks inside the Brazil's Petrobras P-66 oil rig in the offshore Santos basin in Rio de Janeiro, Brazil September 5, 2018. Petrobras' main bet on replenishing its reserves had been the Equatorial Margin, some 2,200 km of deepwater and ultra-deepwater assets along Brazil's northern and northeastern coast. According to one of the sources, the Equatorial Margin has been the company's "Plan A, B, and C" for restocking reserves. In March, Reuters reported that Petrobras was among at least 10 companies including Shell and Chevron to consider bidding on a Guyana oil auction, now scheduled for July. Such projects could also add scope for foreign expansion, said Mauricio Tolmasquim, Petrobras' chief energy transition and sustainability officer.

Persons: Pilar Olivares, Luiz Inacio Lula da Silva, Ibama, Jean Paul Prates, Prates, Lula, Mauricio Tolmasquim, Marta Nogueira, Gabriel Stargardter, David Gregorio Our Organizations: Petrobras, REUTERS, RIO DE, Brazil's Petrobras, Reuters, Petroleo, government's Energy Research, Ocean, Exxon Mobil, Estado, S, Shell, Chevron, Brazil, Thomson Locations: Santos, Rio de Janeiro, Brazil, RIO, RIO DE JANEIRO, Foz de Amazonas, Guyana, Suriname, Colombia, Argentina, Bolivia

☆ Retailers Near Restocking as Inventory Paring Winds Down
▼ + stars: | 2023-05-22 | by ( Paul Page | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/retailers-near-restocking-as-inventory-paring-winds-down-2954708

A super-charged two-year rally, which saw Chinese spot lithium carbonate prices rise by tenfold, went into brutal reverse over the first part of this year. The slump in China's spot price dragged down the whole lithium pricing chain from spodumene concentrate to hydroxide, albeit to highly varying degrees. But lithium's roller-coaster ride highlights the important role China's spot market and the Wuxi futures exchange play in the fast-growing industry's price discovery process. Many lithium buyers, in other words, will be paying higher prices this year whatever happens in the Chinese spot market. The collapse in China's spot price has far exceeded the decline in the price of Australian spodumene, another closely tracked market indicator.

☆ Lithium has started coming back after a 'freefall' in China. What to know about the investing landscape
▼ + stars: | 2023-05-17 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Investors should focus on the long-term story in the lithium investing landscape, not the volatile price swings seen in recent months. Moves in China are driving changes in the global market for lithium as demand for electric vehicles increases, said Keybanc analyst Aleksey Yefremov. DeYoe reiterated his buy rating on Canadian producer Sigma Lithium earlier this month, calling it "the next big thing in lithium." Among the biggest names: Global X has a Lithium & Battery Tech ETF , Sprott has a Lithium Miners ETF and Horizons Global has a Lithium Producers Index ETF . "That's going to be quite a challenge, if we don't literally right now start digging up and finding sites for lithium," Langan said.

☆ Get ready to pay up to $10 for making a return, as more companies charge fees for shipping an item back
▼ + stars: | 2023-05-11 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +2 min

More retailers are charging customers for shipping and related fees for mailing back returns. Roughly 41% of companies charged such fees in 2022, an increase from 33% in 2021, according to a survey. It's becoming more common for customers returning products to shoulder shipping fees. Several major retailers have referenced shipping fees for returns, including H&M, which states that "Shipping and handling costs are not refundable." J.Crew notes on its website that customers shipping gift returns will see a $7.50 charge in their refund, while JCPenney states that shipping returns cost $8.

The results reflect the recent trend of luxury shoppers indulging in lipsticks and fragrances even as they shun high-end purchases amid rising interest rates and product prices. Coty said a post-pandemic recovery in travel retail extended into the quarter. The company's prestige division, home to cosmetics and fragrances from the Hugo Boss, Gucci and Burberry brands, reported a jump of more than 30% in global travel retail sales across all regions. In contrast, peer Estee Lauder (EL.N) forecast weaker sales and profit last week, blaming slow recovery in travel retail, especially in Asia. Coty raised its 2023 adjusted per-share profit expectations to between 38 cents and 39 cents, from 35 cents to 36 cents earlier.

☆ It will be 'really tough' for trucking companies to stay in business if things don't pick up by Memorial Day, says an American trucking association
▼ + stars: | 2023-05-05 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

Executives at trucking giant JB Hunt recently sounded the alarm about a freight recession. OOIDA, an American trucking association, is echoing the sentiment. Even industry gauges are signaling a slowdown: The American Trucking Association's for-hire contract truck tonnage index dropped by about 6% month-on-month to 95.8 in March, hitting the lowest level since August 2021. Higher inventory levels and overstocked warehouses are one of the key reasons truckers are facing a freight recession. Chappell, however, has a pragmatic outlook on the lingering effects of a freight recession on trucking companies: "Capacity will certainly leave the market, but trucking is cyclical."

☆ Infineon raises full-year guidance
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

BERLIN, May 4 (Reuters) - German chipmaker Infineon (IFXGn.DE) raised its full-year guidance on Thursday, citing strong demand from the electromobility, renewable energy generation and energy infrastructure sectors. Infineon now sees full-year revenues of 16.2 billion euros ($17.96 billion)- plus or minus 300 million - compared with its previous forecast for 15.5 billion and with analyst consensus for 16.1 billion. The group, whose chips are used in cars and data centres, had in February already lifted its full-year forecast on strong demand from carmakers, which are restocking inventories following a global chip glut, leading to higher prices. Shares in Infineon rose 1% in early Frankfurt trade. ($1 = 0.9021 euros)Reporting by Maria Sheahan, editing by Kirsti KnolleOur Standards: The Thomson Reuters Trust Principles.

☆ BP shares slide as first-quarter profit dips
▼ + stars: | 2023-05-02 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Shares of BP fell more than 5% Tuesday after the energy giant said it would return less cash to investors following a drop in first-quarter profit. BP (BP) reported underlying profit of $5 billion for the first three months of the year. BP (BP), Chevron (CVX), ExxonMobil, Shell and TotalEnergies (TOT) handed more than $100 billion to their investors in 2022 via share buybacks and dividend payments. Looking ahead, BP said it expects oil prices to “remain elevated,” following supply cuts by OPEC+ and strengthening demand from China. Gas prices in Europe and Asia would be supported by recovering Chinese demand, restocking of European storage capacity and coal-to-gas switching, it added.

☆ US factory orders rebound on aircraft in March
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

Factory orders increased 0.9% after decreasing 1.1% in February, the Commerce Department said on Tuesday. Orders increased 2.4% on a year-on-year basis in March. Orders for transportation equipment increased 9.0% after dropping 3.2% in February. Civilian aircraft orders soared 78.3%. Motor vehicle orders fell 0.6%.

☆ US manufacturing contacts again in April but pulls off 3-year low
▼ + stars: | 2023-05-01 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The ISM said its manufacturing PMI increased to 47.1 last month from 46.3 in March, which was the lowest reading since May 2020. It was the sixth straight month that the PMI remained below the 50 threshold, which indicates contraction in manufacturing. The proportion of manufacturing GDP with a composite PMI calculation at or below 45 percent - a good barometer of overall manufacturing weakness - was 12 percent in April, compared to 25 percent in March, said Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee. Only two of the six biggest manufacturing industries, petroleum and coal products as well as transportation equipment, reported growth last month. The ISM survey's forward-looking new orders sub-index rose to 45.7 last month from 44.3 in March.

☆ US manufacturing contracts again in April, but pace slows
▼ + stars: | 2023-05-01 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The ISM said its manufacturing PMI increased to 47.1 last month from 46.3 in March, which was the lowest reading since May 2020. The ISM said 73% of manufacturing gross domestic product was contracting, up from 70% in March. "The proportion of manufacturing GDP with a composite PMI calculation at or below 45 percent - a good barometer of overall manufacturing weakness - was 12 percent in April, compared to 25 percent in March," said Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee. Only two of the six biggest manufacturing industries, petroleum and coal products as well as transportation equipment, reported growth. Higher prices align with government data showing wages and salaries in the manufacturing industry growing solidly in the first quarter.

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