Investing.com - Gold prices were lower on Friday as the U.S. dollar weakened and U.S. trade tariffs against China went into effect.Comex gold futures for August delivery decreased 0.21% to $1,256.20 a troy ounce as of 6:06 AM ET (10:06 GMT).U.S. tariffs on $34 billion worth of Chinese goods went into effect at 12:01 AM ET (04:01 GMT) on Friday, with additional tariffs on another $16 billion expect...Read More
* World stocks up 0.2 pct, China shares rise* Tariffs on Chinese goods kick in, Beijing retaliates* Economic barometer copper falls* U.S. crude price stick upBy Saikat ChatterjeeLONDON, July 6 (Reuters) - The imposition of tariffs by the United States and China on billions of dollars of trade was absorbed calmly by markets on Friday with stocks edging higher and the euro climbing a three-week peak...Read More
* U.S. tariffs on $34 bln of imported Chinese goods begin* China says will take action to respond to U.S. tariffs* Spot iron ore at lowest level in over three months (Updates prices)By Manolo Serapio JrMANILA, July 6 (Reuters) - Chinese steel prices recovered from early losses to trade firmer on Friday as Beijing's efforts to cut production capacity as part of its pollution fight have countered co...Read More
* MSCI Asia ex-Japan index up 0.4 pct, Nikkei gains 1.1 pct* Shanghai shares fall near 2016 low, then recover sharply* Tariffs on $34 bln of Chinese imports to U.S. now in effect* European markets seen opening 0.5-0.6 pct higher* Copper extends losses on worries about global growthBy Andrew Galbraith and Hideyuki SanoSHANGHAI/TOKYO, July 6 (Reuters) - Asian stocks bounced back from 9-month lows in...Read More
(Adds company news items and futures)July 6 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 26 points higher at 7,630 on Friday, according to financial bookmakers, with futures FFIc1 up 0.44 percent ahead of the cash market open.* ROLLS-ROYCE: Rolls-Royce Holdings RR.L said it would sell its loss-making commercial marine business to Kongsberg Gruppen ASA KOG.OL for an enterprise value...Read More
July 6 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 26 points higher at 7,630 on Friday, according to financial bookmakers.* BHP BILLITON: Negotiations between workers and BHP Billiton Plc BLT.L at the Escondida copper mine in Chile, the world's largest, are "far from reaching agreement" with less than three weeks to go before the negotiation deadline, a union official told Reuters o...Read More
* MSCI Asia ex-Japan index down 0.1 pct, Nikkei up 1.1 pct* Shanghai shares fall to near 2016 low, then recover* Tariffs on $34 bln of Chinese imports to U.S. now in effect* Copper extends losses on worries about global growthBy Andrew Galbraith and Hideyuki SanoSHANGHAI/TOKYO, July 6 (Reuters) - Asian stocks wobbled on Friday, as Washington slapped tariffs on Chinese imports, a move many investor...Read More
SANTIAGO, July 6 (Reuters) - Labor negotiations at BHP Billiton Plc Escondida copper mine in Chile, the world's largest, are entering into the final three weeks before a 30-month contract expires at the end of July.The closely watched talks come little more than one year after failure to reach a labor deal at the sprawling deposit led to a 44-day strike that jolted the global copper market.How are...Read More
(Bloomberg) - Zambia is shelving projects that aren't almost complete and will renegotiate loans as it seeks to contain ballooning debt and entice the International Monetary Fund to restart talks on a support package.The IMF has warned the southern African nation is at high risk of debt distress, while investors have grown skeptical about the amount of external loans the country claims it has inc...Read More
LONDON, July 6 (Reuters) - Private equity-backed Chilean miner Mantos Copper is looking to find a buyer to help finance the expansion of mines it bought from Anglo American in 2015, it said.The company's owner, a consortium led by British investment company Audley Capital Advisors and Orion Mine Finance Group, bought the Mantos Blancos and Mantoverde copper mines from Anglo for $300 million plus $...Read More
The twelve key talks coming up in Chile that will keep copper enthusiasts on their toes. (Data: Chile's Gov't. | Graph: MINING.com.)Copper forecasters are keeping a close eye on Chile these days, as the top-producing country prepares for another busy six months of labour talks.From the 32 contracts set to expire in 2018 at the country's mines, there are still a dozen to be negotiated before year-e...Read More
Acacia Mining (LON:ACA), Tanzania's No.1 gold producer, said Friday production fell sharply again in the second quarter of the year as a long-dragged row with the East African nation's government over taxes continues to hit the miner's bottom line.The company, majority owned by Barrick Gold (TSX, NYSE:ABX), said gold production for the three months to June dropped 36% to 133,778 ounces as operat...Read More
SHANGHAI, Jul 6 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar fell to a three-week low ahead of the tariffs on $34 billion of Chinese imports, while the euro strengthened.Base metals mostly ceased their downward trend but remained weak. LME copper and aluminium lost over 1%, tin and zinc inched down, while lead rebounded...Read More
Investing.com - Gold prices remain near a one-week high on Thursday as the U.S. dollar weakened and traders looked ahead to meeting minutes from the Federal Reserve.Comex gold futures for August delivery increased 0.22% to $1,256.20 a troy ounce as of 10:11 AM ET (14:11 GMT).Gold was bolstered by a weaker U.S. dollar. Gold normally rises as the dollar falls, as the precious metal is denominated in...Read More
By Sai Sachin Ravikumar and Sudarshan VaradhanNEW DELHI, July 5 (Reuters) - India's environmental court did not allow Vedanta Ltd VDAN.NS to reopen its copper smelter in the southern Indian state of Tamil Nadu (NS:TNNP), a lawyer representing the state said on Thursday after a hearing on the matter.India's National Green Tribunal did not accept Vedanta's request to reopen the smelter on an interim...Read More
(Bloomberg) -- Commodity bull Goldman Sachs Group Inc (NYSE:GS). has poured cold water on the notion that a trade war between the U.S. and China represents a serious threat to raw materials, saying most of them aren’t likely to be significantly impacted, and after recent declines now’s the time to buy.The Wall Street lender said the economic impact from sanctions between the U.S. a...Read More
* MSCI Asia-Pacific index down 0.5 pct, Nikkei loses 1 pct* Spreadbetters expect European stocks to open little changed* Moves limited before Washington's July 6 tariffs deadline* Trade woes keep copper, zinc stuck near one-year lows* Crude slips after Trump demands OPEC "reduce pricing now"By Shinichi SaoshiroTOKYO, July 5 (Reuters) - Asian stocks fell for the fourth day and major currencies trad...Read More
* MSCI Asia-Pacific index down 0.1 pct, Nikkei down 0.15 pct* US markets closed on Weds, Asia lacks strong direction* Moves limited before Washington's July 6 tariffs deadline* Copper, zinc stuck near one-year lows amid trade woes* Crude slips after Trump demands OPEC "reduce pricing now"By Shinichi SaoshiroTOKYO, July 5 (Reuters) - Asian stocks were shaky while major currencies barely budged in e...Read More
SHANGHAI, Jul 6 (SMM) – SHFE base metals closed mixed on Friday July 6 after the US launched the opening salvo in the trade war with China at noon. Copper fell over 1%, nickel, lead and tin dipped while zinc and aluminium inched up.The ferrous complex rose across the board except for hot-rolled coil. Iron ore and coking coal rose over 0.7%, rebar and coke nudged up.Copper: The 1809 contract...Read More