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
On Tuesday copper for delivery in March closed more than 2% higher in New York at $2.7085 per pound or just under $6,000 a tonne. It was the highest close since June 2015 and in after hours trade the metal added to gains, last trading at $2.72.Copper has advanced 40% since hitting near-six year lows this time last year, with most of those gains coming in the last four months.Copper's latest leg up...Read More
Shares Pistol Bay Mining Inc. (TSX-V: PST) were up more than 45% on Tuesday mid-morning after the company announced that joint venture partner Rio Tinto will start drilling at its "C Blocks" uranium properties in Saskatchewan's Athabasca Basin.The move means that the world's second largest miner is moving forward with the planned acquisition of the uranium assets, located close to Cameco's McArt...Read More
* Dollar steadies after dip on Mnuchin strong dollar comments* Trump talks protectionism, border taxes rather than stimulus* Japanese shares pressured as yen highest in nearly 8 weeks* Sterling dips after UK court ruling on Brexit vote* Oil and bulk metals boosted date, by recent dollar declineBy Marc JonesLONDON, Jan 24 (Reuters) - The dollar and world stocks tip-toed higher on Tuesday, as signs...Read More
* Dollar steadies after dip on Mnuchin strong dollar comments* Trump talks protectionism, border taxes rather than stimulus* Japanese shares pressured as yen highest in nearly 8 weeks* Sterling dips briefly after UK court ruling on Brexit vote* Gold, oil and bulk metals boosted by recent dollar declineBy Marc JonesLONDON, Jan 24 (Reuters) - The dollar steadied on Tuesday, recovering from a dip on...Read More
Investing.com - Gold prices edged lower during European morning trade on Tuesday, pulling back from the prior session's two-month peak as the dollar firmed after earlier losses.Gold for February delivery on the Comex division of the New York Mercantile Exchange dipped $2.00, or around 0.2%, to $1,213.55 a troy ounce by 4:10AM ET (09:10GMT), after rallying $10.70, or 0.9%, a day earlier.The U.S. do...Read More
(Adds company news items, futures)Jan 24 (Reuters) - Britain's FTSE 100 .FTSE index is expected to open 16 points higher on Tuesday, according to financial spreadbetters, with futures FFIc1 up 0.3 percent ahead of the cash market open.* The UK blue chip index fell 0.7 percent, down after the pound rose to a one-month high against the dollar. It ended down 0.66 percent at 7151.18 points on Monday....Read More
Jan 24 (Reuters) - Britain's FTSE 100 .FTSE index is expected to open 16 points higher on Tuesday, according to financial spreadbetters.* The UK blue chip index fell 0.7 percent, down after the pound rose to a one-month high against the dollar. It ended down 0.66 percent at 7151.18 points on Monday. BOVIS/BERKELEY: British housebuilders Bovis BVS.L and Berkeley BKGH.L see little logic in a merger,...Read More
SHANGHAI, Jan 24 (SMM)? 1/4 ?Nonferrous metals futures traded lower this afternoon, only nickel and tin edging up slightly. Copper led the loss among base metals with a 1.7% drop, while zinc lost 1%. Aluminium and lead slightly dropped.The ferrous complex saw mixed trading today. While iron ore dropped 1%, coking coal, hot-rolled coil and rebar rose around 1%. Coke also gained 0.5%.Copper: Chinese...Read More
China Copper Group has generated 706 million yuan of profits in 2017, setting a new record high since its establishment. The article is edited by SMM and is provided for information purpose only. It does not mean SMM agrees with its views and SMM assumes no liability for accuracy of information contained or quoted in the article. Read More
SHANGHAI, Jan 24 (SMM)? 1/4 ?Copper: Surging inventory has seen LME copper prices wander around the $7,000/mt level for a few days. Inventory levels and changes in spot premiums would set the tone for future LME copper movement in the short term. On the SHFE, open interest has increased to 708,000 lots with many of them speculative bets. We see increased volatility in the near term.Aluminium: LME...Read More
The surge in the copper price to near 18-month highs following Donald Trump's win in the US presidential election came as a surprise to an industry under pressure since 2011 over growing supply.Bullishness about the impact of Trump's $500 billion infrastructure plans has cooled down considerably since then, but at $2.6430 per pound ($5,872 a tonne) in New York on Monday the bellwether metal is up...Read More
Garry Jones, the London Metal Exchange (LME) chief executive for the last three years, has left one of the world's largest and oldest metals markets, becoming the second senior manager to step down in two months.The move, announced by LME's parent company Hong Kong Exchanges and Clearing Ltd (HKEX), follows a difficult year that saw declining volumes, a fraud case come to light and the departure o...Read More
Investing.com - Gold prices rose sharply during European morning trade on Monday, hitting the strongest level in around two months as the U.S. dollar tumbled amid uncertainty around the economic policies of new U.S. President Donald Trump.Gold for February delivery on the Comex division of the New York Mercantile Exchange touched a session high of $1,219.40 a troy ounce, a level not seen since Nov...Read More
Description This Metals Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved. For industry participants and advisors who want to look at the trends, risks and issues surrounding this topic, this report gives you an expert point of view to help inform your decision making. Our analysts are based in the markets they analyse and work with...Read More
SHANGHAI, Jan 23 (SMM)? 1/4 ?Copper: It appears to be difficult for SHFE copper to break through its several moving averages as physical demand remained sluggish ahead of Chinese New Year due to tighter cash. However, copper prices are unlikely to fall much considering tighter supply of copper ore and copper scrap. We expect prices to be rangebound in the near term.Aluminium: We maintain our view...Read More
SHANGHAI, Jan 23 (SMM) – Two copper scrap companies under Category Seven were in the list of the fourth batch of approved scrap import applications this year, according to a release from the Ministry of Environmental Protection on Monday January 22.The approved volumes for copper scrap slumped 95% from a year ago as the list contained mainly wastepaper companies this time.However, SMM believ...Read More