Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
The latest metal markets news and price moves to start the North American day on Friday December 7. Base metals prices on the London Metal Exchange were mostly higher during morning trading, with copper topping complex gains amid a weaker dollar and resurgent trade tensions between the United States and China. Climbing just under 2% over the morning, copper...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Friday December 7.Base metals prices traded on the Shanghai Futures Exchange exhibited mixed movements during Asian morning trading on Friday, with concerns over trade tensions between China and the United States continuing to dampen sentiment.Check Fastmarkets MB's live futures report here.Of...Read More
Newmont Mining (NYSE: NEM) expects its attributable gold production will reach 5.2 million ounces in 2019 and 4.9 million ounces in 2020, while attributable copper production will be 45,000 tonnes in both years.All-in sustaining costs for gold will come in at US$935 per oz. in 2019 and US$975 per oz. in 2020, while AISCs for copper will reach $2.45 per lb. next year and $2.55 per lb. in 2020.Longe...Read More
NEW DELHI - India's environmental court said it will resume hearing Vedanta Ltd's case on Monday to decide whether to re-open the company's copper smelter, which was closed earlier this year after 13 people died when police fired on protesters.Last week, a panel of experts set up by India's National Green Tribunal, informally known as the environmental court, said authorities in Tamil Nadu state h...Read More
Fastmarkets MB reviews the major stories that have affected the steel market during the week ended Friday December 7.Raw MaterialsIron ore producer Vale will use a 65% Fe iron ore index to price its pellets next year, moving away from using a 62% Fe iron ore index as the base price for such cargoes, executive director Peter Poppinga said.The world's largest iron ore miner also hailed the launch of...Read More
Fastmarkets rounds up some of the key news and price moves across the global metals markets this week.Base metalsEuropean lead producer Recylex has opened talks with the debtors of its Weser Metall division after leveraged investments at the smelter there failed to result in expected production gains.Refining charges (RC) for blister copper imported into China dropped for the fifth consecutive mon...Read More
* After 2 days, OPEC+ surprise with sizeable 1.2 mln bpd cut deal* Reduction to last six months, be reviewed in April* OPEC, Russia & U.S. oil production: https://tmsnrt.rs/2QczFSp* U.S. drillers cut 10 rigs to 877 total this week- Baker Hughes (Adds settlement prices)By Jessica Resnick-AultNEW YORK, Dec 7 (Reuters) - Oil prices ended more than 2 percent higher on Friday after OPEC members and...Read More
(Adds detail, updates sourcing)By Alasdair PalNEW DELHI, Dec 7 (Reuters) - India's government appointed a new chief economic adviser on Friday, naming a U.S.-trained professor who praised the country's shock decision to remove most of its banknotes from circulation.Krishnamurthy Subramanian, a professor from the Indian School of Business, will serve a three-year term in the country's finance minis...Read More
Investing.com - Crude prices were lower on Friday, as the Organization of the Petroleum Exporting Countries (OPEC) struggled to come up with an agreement on cutting oil production.West Texas Crude oil futures for January slumped 0.50% to $51.23 a barrel as of 4:54 AM ET (9:54 GMT), after falling nearly 3% on Thursday. Meanwhile Brent crude futures, the benchmark for oil prices outside the U.S., di...Read More
Investing.com - Gold prices rose on Friday, on track for the highest weekly gain since August as lower-than-expected jobs data weighed on the U.S. dollar.Comex gold futures for February delivery jumped 0.62% to $1,251.35 a troy ounce as of 11:26 AM ET (16:26 GMT).Disappointing jobs data pushed the U.S. dollar lower, which helped boost demand for gold.Nonfarm payrolls rose by 155,000 in November, w...Read More
(Updates to add PIX)NEW DELHI, Dec 7 (Reuters) - India's environmental court said it will resume hearing Vedanta Ltd's VDAN.NS case on Monday to decide whether to re-open the company's copper smelter, which was closed earlier this year after 13 people died when police fired on protesters.Last week, a panel of experts set up by India's National Green Tribunal, informally known as the environmental...Read More
NEW DELHI, Dec 7 (Reuters) - India's environmental court said it will resume hearing Vedanta Ltd's VDAN.NS case on Monday to decide whether to re-open the company's copper smelter, which was closed earlier this year after 13 people died when police fired on protesters.Last week, a panel of experts set up by India's National Green Tribunal, informally known as the environmental court, said authorit...Read More
By Yuka ObayashiTOKYO, Dec 7 (Reuters) - Pan Pacific Copper (PPC), Japan's top copper smelter, expects the price of the industrial metal to rise toward $7,000 a tonne in 2019, from about $6,168 now, backed by firm global demand and tighter supply, its executive said.PPC, which is also a miner controlled by JXTG Holdings 5020.T , expects global consumption and supply of refined copper to each incre...Read More
BENGALURU, Dec 7 (Reuters) - Gold prices rose slightly on Friday and were headed for their best week in 15, as the dollar weakened following a decline in U.S. Treasury yields, while investors awaited U.S. nonfarm payroll data for clues about the health of the world's top economy.* Spot gold XAU= was up 0.1 percent at $1,239.24 per ounce, as of 0125 GMT, having hit a near five-month peak at $1,244....Read More
Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Friday December 7, supported by an uptick in equity indices while a softer US dollar index helped most three-month prices reverse Thursday's losses.Despite low volumes in LME trading, with aluminium's 11,723 lots topping the complex, strong afternoon trading resulted in intraday highs for aluminium,...Read More
Seaborne iron ore prices were rangebound on Friday December 7 with low-grade material trading more actively than high grades.MB 62% Fe Iron Ore Index: $66.51 per tonne cfr Qingdao, down $0.08 per tonne. MB 62% Fe Pilbara Blend Fines Index: $65.78 per tonne cfr Qingdao, down $0.08 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $70.32 per tonne cfr Qingdao, up $0.19 per tonne. MB 58% Fe Premium In...Read More
The lull in the seaborne coking coal market was broken on Friday December 7, with two transactions taking place during the day. A premium mid-vol hard coking coal changed hands at $220 per tonne fob Australia while a similar cargo in the same category traded at $206 per tonne cfr China, sources told Fastmarkets. Both cargoes are loading in January.Premium hard coking coal cargoes for Jan...Read More
Look beyond market approach to project valuations: van ZylLeadershipSustained investment in people a big plus for consultancySPONSOREDbyrnecutMahenge the Cinderella of the graphite space?SPONSOREDblack rock miningSky is the limit for BSK at Amarillo GrandeSPONSOREDblue sky uraniumThe suspensions come after it could not complete a conditional US$4 million extension to its working capital facility w...Read More
Sustained investment in people a big plus for consultancySPONSOREDbyrnecutMahenge the Cinderella of the graphite space?SPONSOREDblack rock miningSky is the limit for BSK at Amarillo GrandeSPONSOREDblue sky uraniumNew Energy brings experience to new dawnSPONSOREDnew energy mineralsIndustry leaders will be recognised for their significant efforts and contribution to the industry at the AME awards ga...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More