SHANGHAI, Jan 23 (SMM) - China produced 865,000 mt of copper in December last year, up 16.7% from December 2016, data from the National Bureau of Statistics (NBS) showed. This was the highest monthly output since February 2015. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service.en@sm...Read More
SHANGHAI, Jan 23 (SMM)? 1/4 ?Copper: LME copper is expected to trade at $7,030-7,120/mt on weaker bullish sentiment while SHFE 1803 is expected to trade at 53,450-54,000 yuan/mt. We see spot discounts at 130-90 yuan/mt today.Aluminium: LME aluminium remains strong and is expected to trade at $2,220-2,260/mt while SHFE aluminium is expected to trade at 14,600-14,800 yuan/mt, driven b...Read More
Investing.com - Gold ended higher on Friday, buoyed by the weaker dollar as the inauguration of Donald Trump as U.S. president fueled uncertainty about the direction of fiscal and economic policy.Gold for February delivery settled up 0.67% at $1,209.5 on the Comex division of the New York Mercantile Exchange.The metal was 0.75% higher for the week, helped by a broad weakening of the U.S. dollar.Th...Read More
SHANGHAI, Jan 22 (SMM)? 1/4 ?Nonferrous metals saw a mixed performance today. Nickel led gains with a 2% rise, followed by tin with a 1.4% gain. Zinc edged up 1% and copper and lead rose slightly. Only aluminium saw a decline today.Ferrous metals saw narrower rises. Coke rose 1.5% while rebar and hot-rolled coil moved higher slightly over 1%. Iron ore gained 0.7% while coking coal dipped...Read More
China’s refined copper output rises 16.7% on a yearly basis to 865,000 mt in December, setting a new high since February 2015, according to data released by the National Bureau of Statistics today.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...Read More
SHANGHAI, Jan 22 (SMM)? 1/4 ?Copper: LME copper sees resistance and is expected to retrace further towards $7,000/mt. With weak spot demand and excess inventory, LME copper is expected to trade at $7,010-7,065/mt while SHFE 1803 is to trade at 53,100-53,650 yuan/mt. Spot discounts are to move at 150-100 yuan/mt today.Aluminium: We see LME aluminium trading at $2,200-2,230/mt to...Read More
President Donald Trump's picks for his Cabinet appear to back up his campaign pledges to boost US oil and gas production and streamline infrastructure approvals.From the longest serving Texas governor in history to the former head of ExxonMobil, the administration may ultimately become the most oil and gas-friendly in decades.Confirmation hearings in the US Senate have been held for all of these n...Read More
As the book closes Friday, January 20, 2017, on President Barack Obama's two terms, here are the price averages during his tenure for some key commodity benchmarks, as well as the latest price. The commodities clock during President Donald Trump's tenure will start ticking in earnest on Monday, January 23, and S&P Global Platts will update the same running averages accordingly.Read More
Chile's President Michelle Bachelet has signed into law a bill that gives state-owned Codelco $975 million in fresh funds to help it cope with a recently passed "copper law," which forces the miner hand 10% of its revenues over to the armed forces.The bill, unanimously approved by both houses of congress, grants the world's largest copper producer $500 million, which come from the so-called 201...Read More
Investing.com - Gold prices edged higher on Friday, re-approaching a recent two-month peak as caution surrounding Donald Trump's future policies continued to boost demand for the safe-haven precious metal.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were up 0.40% at $1,206.15, not far from Wednesday's two-month high of $1,214.70.The February contrac...Read More
(Adds futures, company news item)Jan 20 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 9 points at 7,217 on Friday, according to financial bookmakers, with futures FFIc1 up 0.06 percent ahead of the cash market open.* The UK blue chip index closed down 0.54 percent at 7208.44 points on Thursday, dragged down by British parcel and postal firm Royal Mail RMG.L , whose results were b...Read More
Jan 20 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 9 points at 7,217 on Friday, according to financial bookmakers.* The UK blue chip index closed down 0.54 percent at 7208.44 points on Thursday, dragged down by British parcel and postal firm Royal Mail RMG.L , whose results were badly received. ROYAL BANK OF SCOTLAND: Japanese financial services firm Orix Corp 8591.T has agreed...Read More
Economic growth is not a mystery. As Dr. John Hussman reminds us, economic growth always comes down to the sum of just two things: 1) more people working, 2) higher productivity. Add them up and you get the real growth rate. Everything else means nothing unless it contributes to these two factors.Hussman assumes that the unemployment rate falls to an incredibly optimistic 2% by 2024 (from its curr...Read More
A year ago credit ratings agency Moody's warned that the downturn in raw materials was like no other and that defaults among mining and metals companies could reach levels last seen during the height of the financial crisis.As a result, Moody's embarked on a sector-wide review of the 87 global mining majors that it covers, eventually downgrading 36 companies, including marquee names like Rio Tinto...Read More
Newcomer Cornish Lithium Limited is hoping to lead the development of a lithium industry in the UK after acquiring the rights to drill for the mineral in the ancient mining region of Cornwall from Canadian junior Strongbow Exploration (TSX-V:SBW).With the deal, the start-up led by the head of mining research at Investec Plc, Jeremy Wrathall, is undertaking what is believed to be the largest, sin...Read More
Investing.com - Gold prices fell sharply during European morning trade on Thursday, dropping below the $1,200-level after Federal Reserve Chair Janet Yellen said the U.S. economy is strong enough to warrant higher interest rates.Gold for February delivery on the Comex division of the New York Mercantile Exchange slumped $12.35, or around 1%, to $1,199.75 a troy ounce by 3:35AM ET (08:35GMT), after...Read More
LIMA, Jan 18 (Reuters) - India and Peru plan to start negotiations on a bilateral free trade agreement covering goods, services and investments sometime in the first quarter, Peru said on Wednesday.The Cabinet of Indian Prime Minister Narendra Modi approved a feasibility study on the proposed deal on Wednesday, clearing the way for the start of formal talks, Peru's Trade Ministry said in a stateme...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 19 (SMM)? 1/4 ?Nonferrous metals rallied today, with lead rising 2%. Aluminium and tin edged up about 1% and copper gained slightly. Nickel saw a slight dip today.The ferrous complex also did well today. Rebar led the gain with a 2% rise. Hot-rolled coil climbed nearly 2%, iron ore rose 1.59% and coke gained 1%. Coking coal edged up 0.63%.Copper: SHFE copper traded bet...Read More