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
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
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
(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
Investing.com - 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
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
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
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
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
Investing.com - 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
(Adds company news item)Jan 25 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 13 to 19 points higher, or up as much as 0.3 percent on Wednesday, according to financial bookmakers, with futures FFIc1 up 0.5 percent ahead of the cash market open.* The UK blue chip index , which touched a three-week low the previous day, had a volatile session after the UK Supreme Court ruled that Prime M...Read More
SEOUL, Jan 25 (Reuters) - South Korea bought 1,500 tonnes of copper and a total of 2,000 tonnes of zinc for April arrival via tenders that closed on Tuesday, state-run Public Procurement Service said on its website (http://www.g2b.go.kr).Details of the purchases are as follows:--CopperTONNES(M/T) ORIGINSUPPLIER/PREMIUM(PER TONNE)1,500 South Korea LS Nikko Copper Co Ltd/ $65--ZincTONNES(M/T) ORIGIN...Read More
SHANGHAI, Jan 25 (SMM)? 1/4 ?Nonferrous futures performed strongly today except for a slight drop in lead prices. SHFE nickel surged 5.6% and copper rose over 2%. Aluminium and zinc both rose around 1% as tin edged up. Ferrous metals also traded up, with coke rising nearly 4% and coking coal up almost 3%. Iron ore gained 1.5% and hot-rolled coil was up 1.4%. Rebar traded 1% higher.Copper: SHF...Read More
SHANGHAI, Jan 25 (SMM)? 1/4 ? China releases data on its import and export of copper in December 2017 (Unit: mt): Read More
SHANGHAI, January 25 (SMM) - Chinese customs released the import and export data on refined copper, primary aluminum, and other base metals in December 2017 (unit: mt): Read More
SHANGHAI, Jan 25 (SMM)? 1/4 ?Copper: The market is monitoring SHFE copper to see if it reaches 54,000 yuan/mt today. LME copper is expected to trade at $7,050-7,200/mt while SHFE 1803 is to trade at 53,500-54,200 yuan/mt. Spot discounts are expected at 120-70 yuan/mt.Aluminium: LME aluminium performed poorer than other base metals, testing support at $2,250/mt, and is expected to tr...Read More
The world's number one mining company BHP Billiton (NYSE:BHP) reported record half-year production at its Western Australia iron ore division on Tuesday.The Melbourne-based giant said thanks to the continued ramp up of additional capacity at its Jimblebar operations in Western Australia production at its iron ore unit rose 4% year-on-year to 117.6m tonnes for the six months to end-December.For the...Read More