Silver production rose 13% year-on-year to 4.7 million ounces of silver, while gold output jumped 14% to 69,030oz. Read More
SHANGHAI, Apr 18 (SMM) – The US Department of Commerce announced on TuesdayApril 17 that it was launching a new round of anti-dumping and anti-subsidy investigations on certain steel wheels imported from China, SMM learned. The investigations began after two US manufacturers of vehicle components, Accuride Corporation and Maxion Wheels Akron LLC, filed complaints last month. The US...Read More
Nickel is also on a watch list of commodities under pressure if relations between Russia and the western world deteriorate further.Read More
SHANGHAI, Apr 18 (SMM) – China’s copper anode imports have risen as the country continued to expand its copper smelting capacity and as its domestic raw material supply percentage is below 30%.In 2017, imported copper anode accounted for 9.1% of the total raw materials used for copper smelting in China. This compared with 8.8% in 2016, SMM data showed.Zambia, Chile, and the Democr...Read More
The company has left full year production forecasts unchanged, while net debt declined a further US$4.8 million to $60.8 million.Read More
SHANGHAI, Apr 18 (SMM) – Prices of residential property in China’s first-tier cities continued to decline on the year in March, while prices across second- and third-tier cities rose at a slower rate, data from the National Statistics Bureau showed. In first-tier cities, prices of new and resale homes in March fell 0.6% and 0.1% on the year, respectively. The data covere...Read More
The emerging gold producer said it remained on track to meet or beat its full-year goal of producing 85,000-90,000 ounces of gold.Production at the low-cost South Arturo project was boosted in the first three months of the year by operator Barrick Gold's (TSX:ABX) decision to ramp up processing of ore stockpiled from the phase two openpit.That process is expected to continue in the second quarter,...Read More
SHANGHAI, Apr 18 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index rebounded to 89.4 from a low of 89.215 overnight. Most base metals rose. SHFE copper and nickel dipped, zinc rose over 1%. LME aluminium, zinc, and tin went up over 1%, lead and nickel inched up slightly. Only copper edged down.China’s gr...Read More
SHANGHAI, Apr 18 (SMM) –Copper: LME copper fell with higher trading levels. Technically, it struggled among the moving averages as longs significantly reduced their positions. Affected by its LME counterpart, the SHFE 1806 contract saw a lower trading level and moved rangebound. It stood above the 20-day moving average, away from the 40-day moving average. We expect LME copper to trade...Read More
Investing.com - Gold prices swung between small gains and losses on Monday despite heightened geopolitical risk as markets assessed the fallout from U.S.-led missile strikes on Syria on Friday.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange edged up 60 cents or 0.04% to $1,348.50 a troy ounce by 04:40 AM ET (08:40 AM GMT).Safe haven demand for gold was held...Read More
(Adds details, background. Changes media identifier)April 16 (Reuters) - Diversified miner Vedanta Resources Plc VED.L on Monday named South African miner AngloGold Ashanti Ltd's ANGJ.J Srinivasan Venkatakrishnan as chief executive officer.Venkatakrishnan's appointment comes as a rebound in metals prices has prompted the miner to expand production of zinc and aluminium, enabling it to continue i...Read More
SPDR Gold Shares is an ETF that tracks the performance of gold in the financial markets. It is denominated by the ticker GLD and is one of the most widely watched gold indicators. The gold price is influenced by a unique set of factors. These include interest rates, the strength of the USD, supply and demand, etc. For casual traders, it's important to know that gold is the go-to investment w...Read More
Wayne, Pennsylvania-based Genlith has teamed up with Chile's former mining undersecretary Ignacio Moreno to create the Chilean Cobalt Corp, a private concern which has signed an option agreement for a former producing region in northern Chile's Atacama Region.Read More
The Alpala deposit already has a mineral resource of 1.08 billion tonnes at a copper-equivalent grade of 0.68%, and has recently earned the backing of BlackRock, which took a 5% stake in SolGold this month.Read More
SHANGHAI, Apr 17 (SMM) – Nonferrous metals received a boost on Tuesday April 17 as China's gross domestic product (GDP) for the first quarter came in along expectations. SHFE aluminium surged 2.4% and tin and lead rose over 1%. Copper and zinc gained close to 1%, and nickel edged up.Most ferrous metals came off from highs and closed with mixed results. Coke rose over 1% and coking coal a...Read More
Total gold output for the quarter from all operations rose 13% year-on-year to 506,500 ounces, mined from 8.8 million tonnes of ore, up 2% on the year and in line with the mining plan. The miner is carrying out a pit cutback at Blagodatnoye.Read More
SHANGHAI, Apr 17 (SMM) – China’s investment in fixed assets, excluding rural households, stood at 10.08 trillion yuan in the first quarter of this year, up 7.5% year on year, according to latest data from the National Bureau of Statistics on Tuesday April 17. The growth was 0.4 percentage point slower than in the first two months of this year.Of the total, private investment in fixed a...Read More
SHANGHAI, Apr 17 (SMM) – Trading in the imported copper concentrate market was thin during the week ended April 13 as smelters held back purchasing on the relatively low treatment charges (TCs).SMM assessed clean copper concentrate TCs at $70-76/mt as of Friday April 13, down $0.5/mt from a week ago.The copper concentrate market remains in a tight balance even though impact of strikes at ove...Read More
SHANGHAI, Apr 17 (SMM) – Spot copper in the Shanghai market was offered at a premium of 190-250 yuan/mt over the SHFE 1805 contract on Tuesday April 17, SMM learned. This compared with a premium of 40-100 yuan/mt over the 1804 contract the previous day.Spot premiums are unlikely to stay at high levels in the short term as sellers were keen to destock while buyers mostly purchased as needed d...Read More