A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 21.Please click...Read More

The three-month price of copper on the London Metal Exchange was the standout performer at the close of trading on Wednesday October 21, reaching its highest in more than two years and aided by a downturn in the US dollar index, while LME nickel's price rally cooled against selling pressure over the afternoon.Copper's outright price on the LME closed at $6,991.50 per tonne on Wednesday afternoon,...Read More

Bob Moriarty ArchivesOct 21, 2020The Republican and Democratic candidates for president may be the most flawed in U.S. history. And yet one of these two men—God help us—will be sworn in this January.If you’re like me, you’re not betting on either one. Government spending is already out of control. Replacing Trump, the self-proclaimed “King of Debt,” with Biden,...Read More

McClellan Financial Publications, IncPosted Oct 21, 2020Oct 15, 2020Gold prices are important not just to traders of gold coins, but also as a great leading indicator of lots of things that will happen in the future.This week’s chart shows one of the messages we can take from gold prices, which concerns long-term interest rates. In this chart, the plot of gold prices has been shifted forward...Read More

Lawyers from Mbuyisa Moleele and Leigh Day yesterday said they had filed a class action lawsuit in South Africa against its subsidiary, Anglo American South Africa, alleging it had caused lead poisoning from the Kabwe mine in Zambia which was part of its group between 1925-1974.The company told local media it was never a majority owner of Kabwe and would review the claims made and "take all necess...Read More

London copper futures broke above $7,000 per tonne for the first time since early 2018 on Wednesday October 21, with the wire-making metal's green credentials being touted as bullish for future demand at the virtual LME Week forum.The London Metal Exchange's three-month copper contract traded at a high of $7,027 per tonne in afternoon trading on Wednesday October 21, its highest level since J...Read More

The arrival of lower-priced cargoes and weakening downstream demand weighed on the market for UG2 chrome ore in China in the week ended Tuesday October 20, although liquidity was light.Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, fell by $4 per tonne (-2.9%) to $135 per tonne on Tuesday, from $139 per tonne a week earlier."More people are looking to sell than...Read More

That's one way of interpreting the results of a poll taken of participants in a Macquarie Bank base metals summit earlier this week.Read More

A summary of Antofagasta's production results for the third quarter of 2020.Chilean copper miner Antofagasta's copper production has fallen by 7.3% overall this year, but the miner said it will be targeting record output in 2021, even if pandemic restrictions remain in play.In brief: Antofagasta group copper production dropped in the third quarter t o 169,000 tonnes, down 4.6% compared with the se...Read More

Here are five Fastmarkets stories you might have missed on Wednesday October 21 that are worth another look....Read More

Turkish steel mills continued their silence in the deep-sea scrap market for a third day this week, with participants now split on the direction prices will take, sources said on Wednesday October 21.After a third day without any new bookings, sources began to speculate on the direction prices might go.Some told Fastmarkets they were expecting prices to move up, despite the mil...Read More

Half of the base metals prices on the London Metal Exchange have in recent days risen to multi-month highs, with copper reaching levels not seen since June 2018, and all of the metals are pushing higher this morning, Wednesday October 21. Some strike action in copper in Chile has added fuel to copper's rally High expectations for a further stimulus ahead of the US presidential election has boosted...Read More

Lithium is a key priority for Chile and will be exploited in an increasingly sustainable way to meet growing demand from the electric vehicle (EV) sector, according to the country's mining minister, Baldo Prokurica."Global demand for lithium is expected to reach almost 1.8 million tonnes [per year] of lithium carbonate equivalent [LCE] by 2030," Prokurica said during the annual mining conference o...Read More

Trafigura is preparing to table an offer for Brazilian miner Vale's embattled nickel and cobalt operations (VNC) in the French territory of New Caledonia in the South Pacific, sources told Fastmarkets on Tuesday October 20.Fastmarkets understands that the Geneva, Switzerland-headquartered trading house is part of a consortium with four French companies.A source said that current negotiations...Read More

Orestone Mining Corp. (TSX-V: ORS, Frankfurt: WKN: A2DWW7) owns a 100% percent interest in the Captain gold/copper porphyry project in north central British Columbia, 41 kilometres north of Fort St. James, B.C. and 30 kilometres south of the Mt. Milligan copper-gold mine, which is a very large deposit that has been in production for many years. Captain hosts a cluster of large porphyry targets, ad...Read More

* Dollar slips to one-week low * Stimulus hopes lift risk sentiment * Interactive graphic tracking global spread of coronavirus:open * in an external browser (Updates prices)By Brijesh PatelOct 21 (Reuters) - Gold prices rose to a one-week high onWednesday as the dollar weakened on renewed hopes for a new U.S.stimulus package ahead of the Nov. 3 election.Spot gold was up 0.6% at $1,917.57 per ounc...Read More

Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) is a mineral exploration company, focused on the discovery of large gold-copper deposits in the Americas, with two main assets: the prospective Cervantes porphyry, gold-copper property in Sonora, Mexico, and the historic, district-scale, Tombstone properties, in Cochise County, Arizona, that host both bulk tonnage epithermal gold-silver, and CRD silv...Read More

Ghawar, Burgan, Daqing, Ahvaz, Cantarell, Prudhoe Bay... You know these names well if you've had a dime invested in oil at any point over the last hundred years.There are even a few that'll have you scratching your head, such as Safaniya, Kashagan, and Samotlor.These are among a few of the world's remaining supergiant oil fields.More importantly, these oil fields gave a select group of state-run c...Read More

Hot-rolled coil prices in the United States have remained steady above $33.50 per hundredweight ($670 per short ton); meanwhile, market activity has slowed, with buyers waiting to purchase more material amid expected additional increases and rising offer prices.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated $33.57 per cwt ($671.40 per ton) on Wednesday October...Read More

Low demand for heavy steel plate in Europe did not allow steelmakers to achieve their targeted price increases and threatened instead to drag prices downward, sources told Fastmarkets on Wednesday October 21.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was unchanged at ?,?460-470 ($543-555) per tonne on October 21.The assessment reflected achievable p...Read More