SHANGHAI, Mar 12 (SMM) – This is a roundup of global macro-economic news last weekend and what is expected today.Last Friday nightBase metals rose across the board as the US dollar slipped. SHFE nickel jumped over 4% and copper and zinc rose over 1%. LME metals, except tin, rebounded from touching a low at one point. Nickel saw the biggest growth since February. Copper, zinc and lead rose ab...Read More
SHANGHAI, Mar 12 (SMM) –Copper: As the US dollar weakened and the US' February nonfarm payrolls performed well, nonferrous metals rebounded across the board and SHFE copper stood above 52,000 yuan/mt. But the pickup was limited by the anticipated trade war. We see it trading at 51,800-52,300 yuan/mt and LME copper trading at $6,950-7,000/mt today. In the physical market, spot discounts a...Read More
Kaiser Research Online Publisher John Kaiser, in this interview with SmallCapPower at PDAC 2017, explains why resource juniors are moving away from feasibility demonstration and rethinking old jurisdictions that had previously been discarded, instead of waiting for commodity prices to improve. He also weighs in on how he believes Donald Trump could impact the stock prices of resource companies, an...Read More
Workers at Freeport-McMoRan's (NYSE:FCX) Cerro Verde copper mine in Peru began Friday an indefinite strike over wages, adding pressures to a stressed global copper market already affected by stoppages at two of the world's biggest copper operations.Around 1,300 unionized miners downed tools at 7:30 am local time, demanding special benefit payments to protect their incomes against a downturn in the...Read More
Fruta del Norte, discovered in 2006, is one of the world's biggest recent gold findings. (Image courtesy of Lundin Gold)Ecuador is quickly gaining ground as a mining investment destination in Latin America thanks to a revised regulatory framework and a major investor engagement campaign that has already attracted around 420 applications for concessions in less than a year.Getting to this point, ho...Read More
Seven is a lucky number for some, but could be scary for the junior resource market according to Mercenary Geologist Mickey Fulp. In this interview with SmallCapPower at PDAC 2017, Mickey Fulp describes why he believes the Toronto Venture Exchange will defy history this year. He also admits to making several investing mistakes but says he's learned much from his experience, and even reveals his to...Read More
Investing.com - Gold prices fell to six-week lows on Friday, hovering below the psychologically important $1,200 mark as the strength of the U.S. dollar and growing expectations for a U.S. rate hike next week continued to weigh on the precious metal.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery were down 0.61% at $1,195.65, the lowest since January 31.T...Read More
Rio Tinto's (ASX, LON:RIO) chairman Jan du Plessis is stepping down in 2018, ending a run of more than eight years at the world's No. 2 miner, which is under scrutiny from international authorities over its former businesses in Guinea, Africa.He joins a growing list of chairmen who are leaving some of the world's top mining companies, including BHP's Jac Nasser and Anglo's John Parker.South Afric...Read More
* Dollar underpinned by rising yields as Fed hike looms* ECB holds rates, signals on stimulus due at news conference* Oil tries to regain footing after nasty spill, gold at 5-week low* World shares down for sixth day, longest run in over a yearBy Marc JonesLONDON, March 9 (Reuters) - World shares chalked up their longest losing streak in well over a year on Thursday as bets on rising U.S. interest...Read More
* Dollar underpinned by rising yields as Fed hike looms* ECB expected to stick with stimulus at policy meeting* Oil tries to regain footing after nasty spill, gold at 5-week low* World shares down for sixth day, longest run in over a yearBy Marc JonesLONDON, March 9 (Reuters) - World shares chalked up their longest losing streak in well over a year on Thursday as bets on rising U.S. interest rates...Read More
Investing.com - Gold futures extended a slump into an eighth consecutive session Thursday, sending the yellow metal to the lowest level since the start of February amid increasing confidence the Federal Reserve will raise interest rates at its upcoming policy meeting next week.Comex gold futures touched a session low of $1,203.50 a troy ounce, a level not seen since February 1. It was last at $1,2...Read More
(Adds company news item, updates futures)March 9 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 21 points at 7,314 on Thursday, according to financial bookmakers, with futures FFIc1 down 0.5 percent ahead of the cash market open.* SHELL: Royal Dutch Shell RDSa.L has agreed to sell most of its Canadian oil sands assets for $7.25 billion to Canadian Natural CNQ.TO , the company said...Read More
March 9 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 21 points at 7,314 on Thursday, according to financial bookmakers.* BT GROUP-RIO TINTO: Rio Tinto RIO.L Chairman Jan du Plessis is set to step down and take up the chairmanship of BT Group Plc BT.L , with the announcement to be made by Britain's top mobile and broadband operator on Thursday, the Financial Times reported. BHP...Read More
* Dollar gains after ADP report raises Fed hike bets* Wall Street pressured by slumping oil overnight* Toshiba skids, Nintendo gains on Switch hopesTOKYO, March 9 (Reuters) - Japan's Nikkei share average rose on Thursday, benefitting from a weaker yen after the dollar gained when U.S. jobs data cemented expectations the U.S. Federal Reserve is poised to raise interest rates next week.The Nikkei .N...Read More
(Repeats story published earlier with no changes to text.)* Nearly 3.5 mln T of capacity on maintenance in March -Citi* Low fees could shrink refined copper supplies, underpin prices* Traders redirecting copper shipments among Asian portsBy Melanie BurtonMELBOURNE, March 8 (Reuters) - Spot processing fees in Asia for copper concentrate have slid to their cheapest in four years as shutdowns at the...Read More
SHANGHAI, Mar 9 (SMM) – Nonferrous metals on the SHFE mostly dropped today except for tin, which inched up slightly. Zinc fell over 2%, copper slid almost 2%, and nickel dipped over 1%, while aluminium and lead edged down slightly.The ferrous complex saw larger drops in the afternoon as iron ore led the slump with a decline more than 5%. Coke dropped 4.7%, rebar slipped nearly 4%, while hot-...Read More
SHANGHAI, Mar 9 (SMM) – China's car sales are expected to be flat in 2018 due to sluggish demand, according to the China Automobile Dealers Association (CADA).Inventory pressure in China's automobile market eased in February, as the vehicle inventory alert (VIA) index came in at 52.3, showed data from CADA.The February VIA index fell 14.9 month on month, but...Read More
SHANGHAI, Mar 9 (SMM) – This is a roundup of global macro-economic news last night and what is expected today.Last nightThe US dollar rebounded above 90 overnight, while base metals saw mixed trading. SHFE copper, zinc, nickel dropped over 1%, lead edged down, while aluminium and tin inched up. LME nickel slid over 2%, copper lost close to 2%, while lead and zinc fell over 1%.China...Read More
SHANGHAI, Mar 9 (SMM) –Copper: As news of the simmering trade war rattled markets and as global inventories remained at highs from last year, base metals slumped across the board. We expect LME copper to weaken to $6,700/mt in the short term and to trade at $6,790-6,950/mt today. We see SHFE copper trading at 51,300-51,800 yuan/mt. In the physical market, spot discounts a...Read More