Copper Stocks Articles

SMM Morning Comments (Jan 30)

Jan 30 2017 / Staff reporter

SHANGHAI, Jan 30 (SMM) –Copper: The latest Commitments of Traders report published by the Commodity Futures Trading Commission (CFTC) showed that investors have reduced their long positions following a price drop earlier last week. We see pressure for copper futures prices as Chinese consumptions dwindle ahead of Chinese New Year. The LME contract is expected to trade at $7,070-7,120/mt toda...Read More

Gold / Silver / Copper futures - weekly outlook: January 30 - February 3

Jan 29, 2017 / - Gold ended little changed on Friday, after weaker-than-expected figures on U.S. fourth quarter growth dampened expectations for a faster rate of interest rate hikes this year.Gold for April delivery settled at $1,190.0 on the Comex division of the New York Mercantile Exchange.The precious metal was 1.35% lower for the week, as the stronger U.S. dollar weighed.The annual rate of eco...Read More

SMM Evening Comments (Jan 29)

Jan 29 2017 / Staff reporter

SHANGHAI, Jan 29 (SMM) – Nonferrous metals futures remained strong on Monday January 29 as SHFE zinc led the gains with over 3% rise. While SHFE tin and nickel were up some 2%, lead rose 1.5%. Aluminium, however, edged down slightly in the afternoon.The ferrous complex was weaker with coking coal down almost 2%. Both iron ore and coke were down some 1% while hot-rolled coil edged up.Copper:...Read More

Copper concentrate spot TCs steady ahead of CNY

Jan 29 2017 / Staff reporter

SHANGHAI, Jan 29 (SMM) – SMM’s assessment of imported copper concentrate treatment charges (TCs) stood at $74-86/mt as of Friday January 26, down $1/mt from a week ago.We expect spot TCs to remain stable at the $80/mt level ahead of Chinese New Year with sluggish trading activity as smelters have mostly finished their restocking.The malfunction of Pasar and Birla smelters saw some long...Read More

SMM Morning Comments (Jan 29)

Jan 29 2017 / Staff reporter

SHANGHAI, Jan 29 (SMM) - Copper: The physical market has been sluggish with the approaching Chinese New Year dragging copper prices. However, a weak US dollar would prevent them from dropping dramatically. We expect the SHFE 1803 contract to trade at 53,000-53,500 yuan/mt today and the LME copper at $7,060-7,110/mt. Spot discounts are seen stable at 160-100 yuan/mt.Aluminium: We see LME alumi...Read More

Report: Freeport can ride out Grasberg storm

Jan. 27, 2017, 11:34 AM / Frik Els

Shares in Freeport McMoRan Inc (NYSE:FCX), the world's largest listed copper miner, was hammered down on Wednesday after the US company announced fourth quarter earnings below expectations and warned about problems at its operations in Indonesia.But the stock soon rallied and on Friday, Freeport was trading up 3.7% in New York, bringing gains so far in 2017 to more than 24%. The pundits favouri...Read More

South Africa blames AngloGold, Sibanye of refusing to comply with safety laws

Jan. 27, 2017, 5:10 AM / Cecilia Jamasmie

The South African government has singled out two of the country's biggest gold miners, Sibanye Gold (JSE:SGL) (NYSE:SBGL) and AngloGold Ashanti (JSE:ANG) (NYSE:AU), as responsible for risking workers lives by refusing to comply with mining laws."If companies cannot mine safely, they should not be mining at all, and should allow other potential holders," the Department of Mineral Resources said i...Read More

World Bank's a gold price bear

Jan. 26, 2017, 4:27 PM / Frik Els

Gold dipped to a two-week low on Monday hurt by a stronger dollar and investors moving money into equities with major US stock markets continuing to trade at record levels.Gold for delivery in February, the most active contract on the Comex market in New York, was exchanging hands at $1,187.20 in late afternoon dealings, trimming year-to-date gains for the metal to 3%.Upside risks include geopoli...Read More

Copper takes some shine off Anglo American's results

Jan. 26, 2017, 6:00 AM / Cecilia Jamasmie

Anglo American (LON:AAL) reported Thursday higher output for most of the commodities it mines during the fourth quarter of last year, except for copper, which output declined a staggering 19% compared to the same period a year earlier.Anglo saw operational improvements across its portfolio, but copper output suffered from lower grades, bad weather and strikes at its Chilean mines.The significant d...Read More

UPDATE 2-UK Stocks-Factors to watch on Jan 26

Jan 26, 2017 / Reuters

(Adds company news item)Jan 26 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 13 to 18 points, or as much as 0.3 percent higher, according to financial bookmakers, with futures FFIc1 up 0.2 percent ahead of the cash market open.* The UK blue chip index closed up 0.2 percent at 7,164.43 points on Wednesday.* ANGLO AMERICAN: Anglo American AAL.L on Thursday reported an increase in p...Read More

Gold struggles near 2-week lows after Dow tops 20,000

Jan 26, 2017 / - Gold prices were at a two-week low in European morning trade on Thursday, as stocks around the world extended a rally after the Dow climbed past 20,000 for the first time overnight, dampening the metal's safe-haven appeal.Gold for February delivery on the Comex division of the New York Mercantile Exchange fell $2.00, or around 0.2%, to $1,195.85 a troy ounce by 4:10AM ET (09:10GMT)...Read More

SMM Evening Comments (Jan 26)

Jan 26 2017 / Staff reporter

SHANGHAI, Jan 26 (SMM)? 1/4 ?Nonferrous futures retreated today for the most part, except for a 2% rise in nickel prices. SHFE lead and aluminium dropped about 1%. Tin, copper and zinc all edged down slightly.The ferrous complex was mixed with coke registering a small rise. Hot-rolled coil finished flat while iron ore dropped 1.5% and coking coal slipped 0.5%. Rebar also closed lower.Copper: SHFE...Read More

Stronger US dollar the biggest risk for commodities, says analyst

Jan 26 2017 / Staff reporter

SHANGHAI, Jan 26 (SMM) – The likely rebound of US dollar poses the biggest downside risk for commodities in the short term, according to Xu Maili, commodities research director at Guangda Futures.“Funds are currently holding quite a lot of long bets, I think the need to cover their positions once the US dollar becomes stronger would be intense,” Xu said in an interview with SMM.W...Read More

The world's 10 largest copper mining projects

Jan. 25, 2017, 11:17 PM / Frik Els

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Freeport shares plunge on Grasberg troubles

Jan. 25, 2017, 10:24 AM / Frik Els

Shares in Freeport McMoRan Inc (NYSE:FCX), the world's largest listed copper miner, were hammered on Wednesday after the US company announced fourth quarter earnings below expectations and warned about problems at its flagship mine in Indonesia.Freeport was trading down 6.4% with nearly 50 million shares having already changed hands by 1pm in New York, making the counter the second most traded on...Read More

Barrick's gold output fell almost 10 percent in 2016

Jan. 25, 2017, 4:50 AM / Cecilia Jamasmie

Canada's Barrick Gold (TSX, NYSE:ABX) said Wednesday that total output fell last year 9.8% to 5.52 million ounces, though lower all-in sustaining costs mitigated the impact of decreased production.The world's largest producer of the precious metal by output said all-in sustaining costs for 2016 were at or slightly below the low end of its forecast of $740-$775 per ounce of gold, based on prelimi...Read More

Gold moves further away from 2-month highs as equities rally

Jan 25, 2017 / - Gold prices edged lower during European morning trade on Wednesday, moving further away from this week's two-month high as the metal's safe-haven appeal was dampened amid a rally in global equity markets.Gold for February delivery on the Comex division of the New York Mercantile Exchange fell $8.15, or around 0.7%, to $1,202.65 a troy ounce by 3:50AM ET (08:50GMT), after declining...Read More

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