Published 23 Hours AgoUpdated5 Hours AgoReuters Gold rose on Friday to a more than three-month peak as investors rushed to the safety of bullion as stock markets around the globe plunged, putting the metal on track for its fourth week of gains.Spot gold rose 0.2 percent to $1,234.35 an ounce, having earlier gained nearly 1 percent to $1,243.32, its highest since mid-July.U.S. gold futures settled...Read More
SHANGHAI, Oct 26 (Reuters) - China's yuan hit a fresh22-month low against the dollar on Friday, as aweaker-than-expected central bank fixing ramped up market viewsthat authorities would allow larger declines in the currency.The move lower follows broad dollar strength as the eurofell after the European Central Bank failed to convince marketsthat its rates would rise, while expectations of gradual...Read More
A 480 square foot tiny home in Visitacion Valley... Read full newsRead More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday October 25, with continued strength in the US dollar index capping gains, while stronger earnings reports and a broadly positive European Central Bank outlook safeguarded commodity investments. Over the afternoon, the three-month nickel price largely under-performed amid slight downticks in aluminium and...Read More
Comex copper prices were little changed Thursday morning in the US with a stronger dollar capping any positive momentum. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 0.10 cents to $2.7585 lb. "While we forecast a stronger copper price by the end of the year, the fragile macro backdrop poses downside risks to our outlook," Fastmar...Read More
Base metals prices on the London Metal Exchange were mixed during morning trading on Thursday October 25, with bearish third-quarter earnings reports prompting sharp sell-offs in the Asian and European equity markets, while global trade tensions deter commodity investment. Edging lower over the morning, the three-month copper price is trading below $6,200 per tonne, while total available LME stock...Read More
Grupo Mexico, the largest Mexican miner, expects a surge in its production next year, mainly led by copper and zinc. The company is undertaking a huge expansion program that will raise its output of copper by almost 80% by 2025, to 1.8 million tonnes per year.The conglomerate owns assets in Mexico, Peru, Spain and the United States, and it produced 254,219 tonnes of copper in the third quarter of...Read More
Zinc and lead concentrates trader Edouard Penot has left Transamine after four years at the firm, Fastmarkets understands.Penot was working with Eduardo Grau in handling zinc...Read More
Konkola Copper Mines (KCM), Vedanta's Zambian copper operation, could cut its copper output by up to 150,000 tonnes next year due to rising procurement costs following a proposed import duty on copper concentrates, Fastmarkets has learned. KCM is looking to halve its Zambian primary smelting capacity- which now stands at 311,000 tonnes per year, a company source said on Wednesday October 24. To ga...Read More
Chinese cobalt sulfate trade log including business, bids and offers reported to Fastmarkets.Unless otherwise stated, all prices are yuan per tonne on an ex-works basis. In addition, cobalt sulfate, Co 20.5% min, China ex-works, adjustment to low-grade cobalt low-end price at Co 20.5% basis, $/Ib is showed in the bracket, at $ per lb basis. Fastmarkets MB prices Click here for Fastmarkets MB'...Read More
Import prices for steel scrap in Turkey remained flat while rumors of bookings in the deep-sea market made by the country's steel producers were unconfirmed on Thursday October 25.Reports of two deep-sea cargo trades came to light but market participants were unable to confirm significant details.A steel mill in the Marmara region was reported to have booked a Baltic Sea cargo of...Read More
Konkola Copper Mines (KCM), Vedanta's Zambian copper operation, could cut its copper output by up to 150,000 tonnes next year due to rising procurement costs following a proposed import duty on copper concentrates, Fastmarkets has learned. KCM is looking to halve its Zambian primary smelting capacity- which now stands at 311,000 tonnes per year, a company source said on Wednesday October 24. To ga...Read More
Comex copper prices were little changed Thursday morning in the US with a stronger dollar capping any positive momentum. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 0.10 cents to $2.7585 lb. "While we forecast a stronger copper price by the end of the year, the fragile macro backdrop poses downside risks to our outlook," Fastmar...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average rebounded Thursday after plunging more than 600 points in the previous session and wiping out its gains for the year. The Nasdaq's fall on Wednesday pushed it into correction territory.Tesla Inc. (TSLA) jumped 7.6% on Thursday after surprising Wall Street with a profit in its third quarter.Micros...Read More
Grupo Mexico, the largest Mexican miner, expects a surge in its production next year, mainly led by copper and zinc. The company is undertaking a huge expansion program that will raise its output of copper by almost 80% by 2025, to 1.8 million tonnes per year.The conglomerate owns assets in Mexico, Peru, Spain and the United States, and it produced 254,219 tonnes of copper in the third quarter of...Read More
Three-month base metals prices on the London Metal Exchange were for the most part under pressure during morning trading on Thursday October 25, with the complex down by an average of 0.2%. Poor US new home sales data on Wednesday and weakness in equity markets are weighing on market sentiment.Copper leads the weakness with a decline of 0.8% as at 07:39am London time, with aluminium, zinc and tin...Read More
The Thursday Market Minute Global stocks were a sea of red overnight, with the broadest Asia benchmark falling more than 2% to within touching distance of bear market territory and the Nikkei 225 slumping to a six-month low after last night's Wall Street meltdown.European stocks open with heavy selling, but a busy earnings slate provides some support ahead of today's European Central Bank meetin...Read More
The latest metal markets news and price moves to start the North American day on Thursday October 25.Base metals prices on the London Metal Exchange were mixed during morning trading on Thursday October 25, with bearish third-quarter earnings reports prompting sharp sell-offs in the Asian and European equity markets, while global trade tensions are deterring commodity investment.Edging lower over...Read More
Domestic prices for hot-dipped galvanized (HDG) coil have fallen in Southern Europe over the past week due to slow trading, sources told Fastmarkets MB. Buyers have been mainly holding back from making purchases in anticipation of a clearer market trend. Mills are expected to negotiate their next long-term contracts with big buyers in the automotive sector by the end of this month, and spot buyers...Read More
China's export prices for hot-rolled coil weakened on Thursday October 25 even though the domestic market was largely stable, with participants expecting more downside for the product amid rising supply and weak demand.DomesticEastern China (Shanghai): 4,170-4,190 yuan ($601-604) per tonne, unchangedNorthern China (Tianjin): 4,080-4,100 yuan per tonne, unchangedMost transactions in Shanghai were c...Read More