Shares in Egypt-focused gold miner Centamin (LON:CEY) (TSX:CEE) nosedived Wednesday in London after the company posted a 13% drop in full-year gold output from Sukari, its only operating mine and the African country's sole bullion-exporting operation.The company produced 472,418 ounces of gold at the Sukari mine last year, compared to 544,658 ounces in 2017, due to disruptions and lower grades at...Read More
Shares in Egypt-focused gold miner Centamin (LON:CEY) (TSX:CEE) nosedived Wednesday in London after the company posted a 13% drop in full-year gold output from Sukari, its only operating mine and the African country's sole bullion-exporting operation.The company produced 472,418 ounces of gold at the Sukari mine last year, compared to 544,658 ounces in 2017, due to disruptions and lower grades at...Read More
* Chinese currency depreciation to help exports * Copper's resistance at $6,110 where moving averagesconverging (Updates with closing prices)By Pratima DesaiLONDON, Jan 9 (Reuters) - Copper prices climbed to one-weekhighs on Wednesday after reports of fresh stimulus in topconsumer China and signs of progress in Sino-U.S. trade talksreinforced expectations of stronger growth and demand.Benchmark co...Read More
Concentrate exports from Indonesia's Grasberg mine, the world's second-largest copper mine, will drop about 85% this year because of a lag in output while operations shift from open pit to underground mining, a government official said on Wednesday.Shipments this year are expected to fall to 200,000 tonnes from an estimated 1.2 million tonnes last year, Yunus Saefulhak, director of minerals at Ind...Read More
Concentrate exports from Indonesia's Grasberg mine, the world's second-largest copper mine, will drop about 85% this year because of a lag in output while operations shift from open pit to underground mining, a government official said on Wednesday.Shipments this year are expected to fall to 200,000 tonnes from an estimated 1.2 million tonnes last year, Yunus Saefulhak, director of minerals at Ind...Read More
Published8:21PM ET Tue,8 Jan 2019Updated6 Hours AgoReuters Simon Dawson | Bloomberg | Getty ImagesGold will continue to shine amid a weak dollar, says author and gold pro Jim Rickards.Palladium scaled a fresh all-time high on Wednesday after a Chinese official said the government was contemplating policies to increase domestic buying of automobiles, while gold was propped up by a falling dollar...Read More
At least 40 people died and another 10 were injured in a gold mine collapse Sunday in northern Afghanistan, authorities said.Read full newsRead More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average rose for a third straight day amid cautious optimism over the prospects for a trade deal between the U.S. and China.Donald Trump said in a tweet that discussions between the world's two largest economies were "going very well."Union Pacific Corp. (UNP) jumped 8.4% after the railway operator said indu...Read More
A summary of base metals premiums from across the globe for the week to Tuesday January 8.Please click...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Tuesday January 8, with prices generally pushing higher amid positive risk sentiment against US-China trade talks, stronger global equity markets and a softer US dollar index. Climbing furthest over the afternoon, the three-month tin price climbed to its highest level since July 31, closing just short of $20,000...Read More
India's Supreme Court has upheld its earlier order to reopen Sterlite Copper's Tuticorin smelter, which was closed for environmental reasons, according to a statement from its parent company Vedanta on Tuesday January 8.The ruling from the highest court of appeal in India has cleared the legal barriers for the 400,000-tonne-per-year smelter to resume operations. Plans to double the smelter's capac...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday January 8 that are worth another look.The penetration of nickel-cobalt-manganese type-811 batteries into the Chinese electric vehicle industry will be quite limited in 2019, market participants have told Fastmarkets. A new duty on imported copper raw materials in Zambia has already led to consequences, with produc...Read More
A summary of base metals premiums from across the globe for the week to Tuesday January 8.Please click...Read More
European vanadium prices began to bounce back in the week ended Friday January 4 amid renewed supply tightness and increased buying interest, while Chinese export prices stalled on a lack of trading activity. Chinese export prices stall on thin tradingEU FeV market rebounds on renewed buying interestEU V2O5 prices edge upward on FeV strengthUS FeV prices continue downward correction, lag behind gl...Read More
Comex copper prices sustained a modest recovery Tuesday morning in the United States, with the market awaiting further clarity on the current trade unrest.The copper price for March settlement on the Comex division of the New York Mercantile Exchange inched up 0.60 cents to $2.6430 per lb.While market optimism around US-China trade talks has resulted in a fairly upbeat performance in US...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker this morning, Tuesday January 8. Tin was unchanged, while the rest were down between 0.1% for copper and lead and 0.7% for aluminium, with zinc and nickel off by 0.6% and 0.5% respectively. The three-month copper price was recently quoted at $5,909 per tonne.Volume across the complex has been average with 5,0...Read More
The Tuesday Market Minute Global stocks trade higher as investors eye progress in U.S. China trade talks, but weaker-than-expected Samsung profit forecast rattles tech markets. Samsung cites softer China demand as it tees-up an 11% fall in fourth quarter sales and smaller-than-expected profits in a "stagnant and fiercely competitive smartphone market" smartphone market.European st...Read More
The penetration of nickel-cobalt-manganese (NCM) type-811 batteries into the Chinese electric vehicle (EV) industry will be quite limited in 2019, market participants have told Fastmarkets.Cost and safety are the two major hurdles facing the use of NCM811 batteries, which include nickel, cobalt and manganese in a ratio of 8:1:1. This is despite the application of China's 2018 EV subsidy policy, wh...Read More
Fastmarkets has corrected its Turkey import hot-rolled coil price, which was published incorrectly on Friday January 4.The Turkey import hot rolled coil $ per tonne cfr main port price was published in error after the market was reassessed as stable and offer prices did not change. The price has now been updated to $460-470 per tonne cfr, after it was previously published at $460-480 per tonne cfr...Read More
Fastmarkets is proposing to discontinue the SteelBenchmarker price series on March 1, 2019.Fastmarkets has price series covering all existing Benchmarker prices and in greater frequency and regional granularity. The consultation period for these discontinuations will end on February 28, 2019, with changes taking place beginning March 1, 2019. To provide feedback on this index or if...Read More