Base metals on the London Metal Exchange pushed higher during morning trading on Wednesday November 7, supported by a strong bounce in global equity markets, while the US dollar index lost ground after gains by the Democrats in the US midterm elections. Overnight, US midterm election results indicated a majority win for the Democrats in the House of Representatives, with US president Trump's admin...Read More
China's domestic rebar market maintained its downward trend on Wednesday November 7 with sellers stepping up their efforts to destock.Domestic Eastern China (Shanghai): 4,500-4,550 yuan ($650-657) per tonne, down 90 yuan per tonneNorthern China (Beijing): 4,380-4,420 yuan per tonne, down 40 yuan per tonneSellers were actively destocking during the day on the weak futures market and their bearish o...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday November 7*Copper -$156.22 (-1,085.48 yuan) Aluminium -$426.97 (-2,966.72 yuan) Zinc $41.58 (288.94 yuan) Nickel $358.95 (2,494.11 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
China's hot-rolled coil prices fell further on Tuesday November 6 after sentiment was dampened by Tangshan's smaller-than-expected production cuts. DomesticEastern China (Shanghai): 4,000-4,010 yuan ($578-579) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,990-4,000 yuan per tonne, down 10 yuan per tonneShanghai's HRC prices have fallen for a 12th day, with sentiment in the market...Read More
News that Glencore's Katanga Mining will suspend exports and sales of cobalt from Kamoto in the Democratic Republic of Congo (DRC) has lent some optimism to 2019 contract negotiations taking place this week at an industry event in Xiamen, China. Sales and exports of material from the DRC mine were halted after it was found that uranium levels in hydroxide produced at Katanga exceeded the limit for...Read More
The latest metal markets news and price moves to start the North American day on Wednesday November 7.Base metals on the London Metal Exchange pushed higher during morning trading, supported by a strong bounce in global equity markets, while the US dollar index lost ground after gains by the Democrats in the US midterm...Read More
Long-term contracts for cobalt hydroxide supply in 2019 have been heavily weighted toward lower payables year on year, with discussions centered around increasing availability of intermediates. But the extent of the likely hydroxide surplus' impact on next year's metal market is less clear. Since last year's mating season, Glencore has announced the restart of production at Katanga in the Dem...Read More
DR Congo: Is government intervention the real risk to watch?SPONSOREDverisk maplecroftBezant's Mankayan back in copper-gold spotlightSPONSOREDbezant resourcesKyzyl ramp-up signals new growth path at buoyant PolymetalSPONSOREDpolymetal internationalGolden Mile has the right stuff: ReynoldsSPONSOREDgolden mile resourcesThere was once a time when I was immortal. In my 20s, I was fit. Rugby t...Read More
Chrome ore and alloy prices dropped in China last week after tender price cuts for November continued to weigh on sentiment, while the US high-carbon ferro-chrome price halted recent declines on an uptick in inquiries. Chinese markets still reacting negatively to lower November tendersAlloy prices hold in JapanSouth Korean alloy prices inch lowerEuropean price drop on plentiful Indian supply ...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday November 7:Aluminium scrapGroup 1 pure 99% & litho: ?1,360-1,410 per tonne from ?1,380-1,430Commercial pure cuttings: ?1,080-1,110 per tonne from ?1,100-1,140Clean HE9 extrusions: ?1,360-1,410 per tonne from ?1,390-1,440Loose old...Read More
B2Gold (TSX: BTO; NYSE: BTG) produced a record 242,020 oz. gold in 2018's third quarter, 78% higher than in the same quarter of the previous year. It attributed its success to strong performances from the Kekola mine in Mali, the Masbate mine in the Philippines and the Otjikoto mine in Namibia.The company reported $324 million in gold revenue, 110% higher than in the same quarter of the previous...Read More
Toronto-based Barkerville Gold Mines has released the drilling results from the ongoing Cow Mountain program at its flagship Cariboo gold project near the town of Wells. The company says the results demonstrate the continuity of high grade gold mineralization within vein corridors and extensions down dip and down plunge.The results trace mineralized vein corridors at Cow Mountain extending the hig...Read More
Botswana Diamonds (LON:BOD) has signed a contract with Palaeo Minerals covering full-scale mining activity at the Thorny River project in South Africa, which the company believes will become its first operating mine.The agreement, which sees Botswana Diamonds handing over control to the contractor, will allow the company to self-fund the project from bulk sampling through to mine development, it s...Read More
Afghanistan selected preferred bidders for three gold and copper mines in 2012. It took the war-torn nation six years to finally sign the contracts.Afghan President Ashraf Ghani announced the deals in the past few weeks. The government took time to finalize the agreements because it wanted to ensure they were transparent and will help eliminate corruption in awarding contracts, Ghani said in an in...Read More
"#Lithium developer Savannah has found three new mineralised zones at its Mina do Barroso project in Portugal, and will work on adding them to the MRE ($) | https://t.co/4hEVB7Gvdn $SAV #AIM"Read full newsRead More
"#Cobalt is going from the largest forecast surplus on record in 2019 to the largest deficit in one fell swoop from the Kamoto suspension | https://t.co/PZdBeWX617 $GLEN #DRC"Read full newsRead More
November 7, 2018: Rodney Hooper posted images on LinkedInRead full newsRead More
Iran's oil-tanker fleet has entered stealth mode.Read full newsRead More
While falling largely below the radar, today's Treasury announcement of a record increase in STRIPs was the biggest news of the day in rates...Read full newsRead More
Bristow, who will be CEO of the merged firm, did not give specifics about what that mediation would involve, but said he would be acting in his capacity as Randgold's chief executive not as the head of Barrick.Read full newsRead More