Comex copper prices were slightly higher in morning trading on Wednesday October 17 with a rising dollar preventing any significant gain.The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 0.60 cents to $2.7855 per lb. "We are seeing very quiet conditions in metals so far this week; yesterday ended in a mixed...Read More
Tin premiums were flat across the board in the week to Tuesday October 16, even with the threat of restricted supply from major tin producer Indonesia hanging over the market. European premiums steady at 19-month low US premiums move sideways in slow market China premiums flat amid weak smelter demand European premiums hold ground despite production threat The premium for 99.9% s...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesIt produced 5.36 million pounds of copper and 3,010 ounces of gold, up 5% and 6% respectively on the previous corresponding period, due mainly to an 8% increase in processed ore.The com...Read More
Alcoa intends to shut down its Spanish aluminium smelting operations at La Coru??a and Avil?(C)s, citing the plants as being the least productive within the Alcoa system due to structural issues. The two plants have a combined production of 180,000 tonnes per year - producing primary aluminium, billet and slabs. La Coru??a and Avil?(C)s also have a combined idle capacity of 53,000 tpy. "Structural...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resources On the heels of a feasibility study in July that laid out a commercial case for restarting the operation, CEO Rodrigo Barbosa hailed the development as a "transformational milestone" for the project and company.He said the proejct was on track to achieve commercial production by the end of the year. Amerigo MVC plant ramp-up on courseS...Read More
The world market for salt is forecast to grow fast, a newly released report by Roskill reveals. Salt is used to produce chlorine, caustic soda and a range of other chemicals required by industry.Roskill reports the Chinese chemical sector will continue to drive demand for high purity salt to 2027, and will be a major factor driving future projects in Asia and India.By 2027, Asia is forecast to acc...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesThe company received its activated Class III underground injection control (UIC) area permit, allowing it to extract up to 125 million pounds of copper per annum, using what it described as the ...Read More
The latest metal markets news and price moves to start the North American day on Wednesday October 17.Base metals prices on the London Metal Exchange were mostly higher during morning trading, with aluminium shrugging off another huge delivery into LME-listed warehouses.Over 92,000 tonnes of aluminium was delivered into warehouses in Asia this morning - with the majority arriving in Port Klang.&nb...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesBHP said it had entered into a share subscription agreement with Brisbane-based SolGold to buy an additional 100 million shares.The company will pay 45 pence per share, a 32% premium to...Read More
Several zinc and lead mining and smelting companies have been targeted for secondary sanctions by the United States Treasury over alleged ties to paramilitary organizations. Companies including Bandar Abbas Zinc Production Co, Calcimin, Iran Zinc Mines Development Co and Qeshm Zinc Smelting and Reduction Co - all producers of zinc concentrates and ingots - have been targeted. These organizations a...Read More
The latest news and price moves to start the Asian day on Thursday October 18.Base metals prices on the London Metal Exchange were mostly trading lower at the close on Wednesday October 17, with sentiment in the market weakening although zinc continued to outperform. Read more in our live futures report.Here are how prices looked at the close of trading:Concerns are mounting over the potential hal...Read More
Turkey's Tosyali Holding is to invest in the construction of a rebar and wire rod mill in Senegal, in western Africa.Tosyali signed a Memorandum of Understanding (MoU) with Senegal's ministry of mines and geology during the second Turkey-Africa Economic & Business Forum in Istanbul on Wednesday October 10.Once a location is decided, Tosyali will lay the foundations for the plant by the end of 2018...Read More
The number of new passenger car registrations in the EU dropped massively in September 2018, going down by 23.53% year-on-year.New car sales in Europe totaled 1,091,220 units in September, compared with 1,427,013 vehicles sold in the corresponding month of 2017, the European Automotive Manufacturers Assn (ACEA) said on Wednesday October 17."This [drop in sales] should not come as a surprise, becau...Read More
Possibly one of the most important sources of economic information to be released this week is the minutes from the September FMOC meeting held by the Federal Reserve, which has been released today. The minutes confirmed the information conveyed in their press statement which was released immediately upon the conclusion of the meeting as well as news from a press conference with questions and answ...Read More
European prices for mesh-quality wire rod were flat across the Northern and Southern parts of the continent on Wednesday October 17, with buyers still unwilling to commit to large-volume deals.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe were ?,?535-560 ($620-648) per tonne delivered on Wednesday. Both assessments were unchanged week...Read More
(Kitco News) - Even though the U.S. midterm elections are difficult to predict, TD Securities said the most likely scenario is a divided Congress. But what does that mean for financial and precious metals markets?“Political risk is notoriously difficult for markets to predict. This is in part due to the increasing unreliability of polls to determine election outcomes, as was the case in the...Read More
The price for rebar produced and delivered in Southern Europe slipped downward on Wednesday October 17, with buyers uncertain and few deliveries of any substantial size being sought.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe fell to ?,?520-545 (602-631) per tonne per tonne delivered on Wednesday, from ?,?530-545 per tonne a week ago.While uncertainty is keeping many...Read More
Prices for domestic hollow steel sections in Europe narrowed upward this week, while announced price increases from mills were viewed with skepticism, market sources told Fastmarkets on Wednesday October 17. Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe rose on the low end of the range to ?,?660-670 ($764-776) per tonne de...Read More
(Kitco News) - Gold prices continued to trade slightly lower on the day after the release of the FOMC meeting minutes from September, which pointed to more rate hikes. The meeting minutes revealed that the third rate hike of the year was unanimous and that there was a general agreement that further rate hikes will be needed in the future. Gold prices slightly edged down following the news but kept...Read More
(Kitco News) - Although there are expectations that investment capital will flow back into the mining sector, companies have to do more to show value, according to some finance executives.At a panel discussion during the Mine and Money conference in Toronto, Caroline Donally, managing director of private equity firm Denham Capital, said that in the past, companies have done poor job at creating va...Read More