* MSCI Asia-Pacific index down 0.35 pct, Nikkei sheds 0.2 pct* Tech shares retreat broadly on latest US-China row* Dollar sags as US yields decline amid risk aversion* Libyan export woes lift oil after previous day's big fallBy Shinichi SaoshiroTOKYO, June 26 (Reuters) - World stocks extended a sell-off on Tuesday as an escalating trade fight between the United States and other major economies ste...Read More
* White House officials send mixed messages on trade policy* Dollar near 2-week low vs yen on risk aversion* Chinese yuan hits lowest in six months* Commodity currencies softer as oil rally halts and copper sagsBy Tomo UetakeTOKYO, June 26 (Reuters) - The dollar slipped against the yen in Asian trade on Tuesday, hovering near a two-week low, as worries about an intensifying fight between the Unite...Read More
* MSCI Asia-Pacific index down 0.75 pct, Nikkei sheds 0.5 pct* Dollar sags as US yields decline amid risk aversion* Libyan export woes lift oil after previous day's big fallBy Shinichi SaoshiroTOKYO, June 26 (Reuters) - Global stocks extended a sell-off on Tuesday as an escalating trade fight between the United States and other major economies steered investors away from riskier assets, lifting sa...Read More
SHANGHAI, Jun 27 (SMM) – Nonferrous metals futures mostly rebounded on Wednesday June 27 with SHFE lead leading the gains again with a rise of nearly 2%. Zinc gained 1.6%, aluminium rose 0.75%, and tin inched up. Nickel closed 0.56% lower, and copper went down slightly. The ferrous complex, except for hot-rolled coil, dipped across the board but at a slower pace. Coke fell nearly 1% and...Read More
SHANGHAI, Jun 27 (SMM) –Copper: LME copper touched a low of $6,692/mt on Tuesday as the weakening trend became apparent. The SHFE 1808 contract was firmer than its LME counterpart overnight, climbing up above the five-day moving average. While the depreciation of yuan helped support the SHFE copper price, it remains under pressure in the short term amid bearish sentiment and weak consumption...Read More
Hudbay to take part of Doubleview's HatM&ASolGold set to shineSPONSOREDsolgoldIn a presentation at this week's Copper to the World conference in South Australia, CRU's director of copper research and strategy Vanessa Davidson said the firm had significantly boosted its fo...Read More
"We have had some really positive surprises out of this process"LeadershipOnly open global trade can answer critical elements questionsPoliticsBlack Rock polishes MahengeSPONSOREDblack rock miningPolarX points to upsideSPONSOREDpolarx ltdOperating on current pricing and medium-term forecasts, there are contenders for production within five years from projects with a whole lot of sunk cos...Read More
By Andy HomeCopper has fallen almost nine percent in price over the last couple of weeks.In London three-month copper was this morning struggling to hold the $6,700 level, a chart area last breached in early April.Copper has been caught up in the broader risk-off trade that has accompanied the steady ratcheting up of trade war rhetoric.But the price weakness is also reflecting what is, by copper's...Read More
Canada's Yamana Gold Inc. (TSX: YRI) (NYSE: AUY) said Tuesday it has produced first gold and silver at its Cerro Moro mine, located in Argentina's Santa Cruz province.The Toronto-based miner, which began construction at Cerro Moro in 2015 and poured first dor?(C) last month, expects to finish building the mine this year.The company expects most of Cerro Moro's 2018 production in the second half o...Read More
Equinox Gold will incorporate Solaris Copper to hold all of Equinox's former copper assets.Equinox Gold, which announced the change last week, is the latest company to spin out assets that are enjoying a lift due to the anticipated electric vehicle revolution.The chief assets being moved to the new company are the Warintza project in Ecuador and the La Verde project in Mexico.Equinox chairman Ross...Read More
SHANGHAI, Jun 26 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index dipped overnight on risk aversion and closed at 94.3. News reports suggested that companies with 25% or more Chinese ownership may be banned from buying US businesses with “industrially significant technology”.Base metals fell across the boar...Read More
SHANGHAI, Jun 26 (SMM) – The floor price of imported copper concentrate treatment charges (TCs) for the third quarter is likely to stand at $85-87/mt, up from $78/mt in the second quarter, SMM estimated. The price is set to be determined at the end of this month as the China Smelters Purchase Team (CSPT) convenes in Manzhouli of Inner Mongolia, SMM learned.We expect the floor...Read More
SHANGHAI, Jun 26 (SMM) – Both nonferrous and ferrous metals futures, except for SHFE lead, fell across the board on June 26. Lead jumped over 1.2%, while nickel slumped nearly 2.5%. Zinc and aluminium lost some 1.1%. Tin and copper inched down. Coke plunged nearly 3.9%, coking coal dropped 2.1%, rebar declined 1.8%, and hot-rolled coil went down 1.4%. Iron ore closed slightly lower.&nbs...Read More
SHANGHAI, Jun 26 (SMM) – The boom of shanty town redevelopment in China may cool down after China Development Bank (CDB) took away the local approval authority on renovation projects.Share prices of Chinese real estate developers tumbled on Monday June 25 following market talk that Beijing planned to ban shanty town redevelopment altogether and that CDB would stop approving pledged supplemen...Read More
SHANGHAI, Jun 26 (SMM) –Copper: The SHFE 1808 contract opened below the 60-day moving average and touched a low of 51,370 yuan/mt overnight. LME copper broke the support at the $6,800/mt level overnight despite a strike threat at Codelco's Chuquicamata mine in Chile. In China, downstream demand remained sluggish amid slack season and cash woes towards the end of the first half despite th...Read More
SANTIAGO, June 25 (Reuters) - Workers at Codelco's Chuquicamata copper mine in Chile, the state miner's second largest by output, are threatening to walk off the job soon to protest plans to transform the century-old open pit into an underground mine, a union leader said on Monday.Four of the Chuquicamata's six workers' unions voted to go ahead with strikes, alleging the company's plans to overhau...Read More
The outlook for lithium continues to shine, with demand from companies that produce batteries to power electric cars, laptops and other high-tech devices, expected to increase more than thirtyfold by 2027, a new study shows.While the next nine years will drain less than 1% of the reserves in the ground, battery makers will need more lithium to support their production, which will boost demand fo...Read More
Acacia Mining (LON:ACA), Tanzania's No.1 gold producer, said Monday that parent company Barrick Gold (TSX, NYSE:ABX) has yet to reach an agreement with the East African nation's government to end a running dispute over taxes that has severely hit the miner's bottom line.Barrick, which has been negotiating on Acacia's behalf with the Tanzanian government for over a year, had said it would deliver...Read More