Sentiment was unusually bearish at this year's Cesco week in Santiago, Chile, with copper market participants increasingly concerned that sluggish demand in China will limit the upside potential of the red metal price. The annual gathering in the Chilean capital on April 7-12 is traditionally characterized by strong attendance by miners from copper-rich South America and thus typically boasts a po...Read More
UK and European steel market participants renewed calls for the European Union and the United Kingdom to reach an agreement and avoid continued market uncertainty after the UK was granted a six-month extension to delay Brexit until Thursday October 31. The latest extension has also averted the prospect of the UK having to leave the EU without a deal on Friday April 12. A "no deal" Brexit would mea...Read More
The three-month zinc price on the London Metal Exchange moved above $2,900 per tonne at the close of trading on Friday April 12, while volumes traded reached their highest level since March 15 at 12,000 lots exchanged.Price action in zinc has been volatile so far in April, reaching a monthly high of $2,938 per tonne on April 8 before dipping to a low of $2,852 per tonne on April 9. LME stocks rema...Read More
The Comex copper price surged in the US morning session on Friday April 12 amid a falling dollar and upbeat sentiment from Cesco Copper Week in Santiago, Chile. The copper price for May settlement on the Comex division of the New York Mercantile Exchange jumped 5.70 cents to $2.9440 per lb. The contract has been unable to set a solid price direction this week with prices rising and falling day by...Read More
Seaborne iron ore prices continued to rise on Friday April 12, with high-grade materials such as Iron Ore Carajas (IOCJ) continuing to outperform other grades.MB 62% Fe Iron Ore Index: $96.47 per tonne cfr Qingdao, up by $0.82 per tonne.MB 62% Fe Pilbara Blend Fines Index: $95.74 per tonne cfr Qingdao, up by $0.97 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $98.32 per tonne cfr Qingdao, up by...Read More
SD Friday Wrap: The cartel is lashing-out in sheer desperation, and gold & silver are the targets, but the lashing is not likely to last long. Here's why...Editor's Note: This post is subjective opinion and possibly offensive. Do not continue reading if easily offended.*****The stakes are high.What's at stake?Oh, just the implosion of all of the phony paper markets.And I do mean all of them - the...Read More
Egon says once the paper silver shorts run for cover and ask for delivery, THERE WILL BE NO METAL AVAILABLE. Here's what it means for gold & silver investors...by Egon von Greyerz of Gold SwitzerlandMMT is the socialists' dream. It officially stands for Modern Monetary Theory but a more appropriate name would be More Money Theory. Because MMT is just a fancy name to justify more money printing, m...Read More
Miramont Resources (CSE: MONT; US-OTC: MRRMF) cut significant mineralization during the 3,600 metre drill program at its Cerro Hermoso polymetallic project in Peru in one zone but limited mineralization in two others.The company tested Cerro Hermoso's Central Breccia zone, Stockwork zone and Carbonate Replacement zone. While it encountered short intervals of anomalous mineralization in the Stockw...Read More
Chilean copper miner Antofagasta Plc (LON:ANTO) will make a decision about going ahead with a $3B expansion of its Centinela mine, located in the country's north, by the end of next year or in 2021.Speaking on the sidelines of the World Copper Conference held this week in Santiago, chief executive Iv??n Arriagada said the company had recently decided to advance the studies on a second concentra...Read More
Polish lawmakers approved a 15% cut to the country's copper tax on Friday, which would give state-run KGHM (WSE:KGH) a bit more room to breathe, as the miner has been struggling with rising costs, falling copper prices, technical problems and higher-than-expected capital spending in the past few years.The motion was approved by 407 members of the parliament's lower house, dominated by the ruli...Read More
Brazilian President Jair Bolsonaro said on Friday the country could open a vast reserve in the Amazon rainforest to mining, a move attempted by his predecessor that was quickly rescinded following an international environmental outcry.The National Reserve of Copper and Associates (Renca) occupies roughly 17,800 square miles (46,100 square kilometers), an area slightly larger than Denmark, that is...Read More
BEIJING - China's copper concentrate imports fell 8% in March from the month before when imports were unusually strong due to restocking ahead of the Lunar New Year holidays, customs data showed on Friday.Arrivals of copper concentrate, or partially processed copper ore, were 1.77 million tonnes last month, according to the General Administration of Customs data. That is up 10.6 percent from March...Read More
Revelo Resources (TSXV: RVL) and Sociedad Qu?-mica y Minera de Chile (NYSE: SQM) have signed an exploration option agreement under which SQM can acquire up to an 80% interest in Calvario and Mirador, two of Revelo's copper-focused projects in northern Chile.According to Revelo, both Calvario and Mirador display widespread geological characteristics indicative of the upper parts of possible porphyr...Read More
South American import prices for flat steel were almost unchanged this week because of the low levels of demand, but rumors of price increases for specific materials were heard among buyers and traders.Current prices from China were already considered high by clients, which were reported to be holding large inventories.Fastmarkets' weekly price assessment for South American imported cold-rolled co...Read More
Transaction prices for grade-304 stainless steel cold-rolled (CR) sheet in Europe remained static in the week ended Friday April 12 despite some mills continuing to offer material at inflated levels.Offer prices for grade-304 CR sheets were heard as high as ?,?2,350 ($2,648) per tonne delivered during the week, the same level as in the previous week.Despite these offers, Fastmarkets' price assessm...Read More
Chinese trading house ASK Resources has moved into the European market, hiring Guillaume Taib to open an office in Geneva, Switzerland.ASK had a turnover of $900 million in 2018, trading mainly in copper but also in zinc, aluminium and nickel,...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Once the deal closes, Chevron will be the second-largest producing major in 2019 terms. It was fourth.The acquisition makes the Majors' peer group much more polarised. ExxonMobil, Chevron, Shell and BP are now in a league of their own...Read More
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The three-month zinc price on the London Metal Exchange moved above $2,900 per tonne at the close of trading on Friday April 12, while volumes traded reached their highest level since March 15 at 12,000 lots exchanged.Price action in zinc has been volatile so far in April, reaching a monthly high of $2,938 per tonne on April 8 before dipping to a low of $2,852 per tonne on April 9. LME stocks rema...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More