The latest metal markets news and price moves to start the North American day on Monday June 11.Base metals on the London Metal Exchange were mostly lower during morning trading on Monday June 11, with copper and nickel prices decreasing while lead was the only metal to trade higher.Here's how...Read More
Peter KrauthGold prices need a catalyst to lift them out of their trading rut. And that's just what they'll get this week…The price of gold tends to move dramatically before and after the U.S. Federal Reserve raises interest rates. The Fed is expected to hike rates during this week's FOMC meeting, with experts giving a rate hike a 91.3% probability, according to the CME FedWatch Tool.Plus, t...Read More
SHANGHAI, Jun 11 (SMM) – Nonferrous metals saw mixed trading on Monday June 11. SHFE nickel led losses and closed 0.79% lower. Tin dipped 0.52%, and aluminium inched down. Zinc, lead, and copper went up slightly.The ferrous complex gained for the most part. Iron ore rose 0.64%. Rebar and hot-rolled coil inched up, while coking coal lost 0.76% and coke edged down.Copper: The SHFE 1808 contrac...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Monday June 11.Base metals prices on the Shanghai Futures Exchange were up across the board during Asian morning trading on Monday, with copper leading the advance following the release of healthy Chinese economic data over the weekend.China's consumer inflation (CPI) rose by 1.8% year on year in Ma...Read More
SHANGHAI, Jun 11 (SMM) – All the blast furnaces used to produce manganese-rich slag in Qinzhou in Guangxi province have been shut down as of Monday June 11, after an inspection team from the central government settled in the province earlier this month to review the rectifications previously required, SMM learned. While most large-sized ferromanganese plants in Qinzhou had met envi...Read More
SHANGHAI, Jun 11 (SMM) – Sales of new-energy passenger vehicles in China amounted to over 92,000 units in May, up 140% year on year and up 30% month on month, according to wholesale data from China Passenger Car Association (CPCA) released on Friday June 8.In May, sales of pure electric passenger vehicles rose 130% from a year ago and stood at 73,072 units. Sales of plug-in hybrid elect...Read More
Seaborne coking coal prices rose to their highest in over two months last week - on Monday June 11, Metal Bulletin's fob Australia Premium Hard Coking Coal Index was 35% higher than where it was a year earlier - with supply concerns emerging as a key factor affecting the outlook for the market.Changes made by Queensland's rail freight operator Aurizon to its operational and maintenance practices h...Read More
Base metals on the London Metal Exchange closed mostly lower at the end of trading on Monday June 11, with copper, nickel and tin prices recording losses while lead and aluminium made marginal gains. Falling 0.7% over the afternoon, copper's three-month price has dipped from the five-year highs that pushed its price up to $7,300 per tonne last week. Uncertainty over labor negotiations at BHP...Read More
The Chinese domestic ferro-silicon market increased on expected tighter supply, with producers encountering environmental checks that could cut production in coming weeks, while the European market has been stable in June, ahead of the third-quarter delivery settlements conclusion between alloy suppliers and consumers in the steel sector. China adds to price gains on supply worries Could bec...Read More
Comex copper experienced a bout of profit-taking to open the new week on Monday June 11 morning in the US, following last week's surge.Copper for July settlement on the Comex division of the New York Mercantile Exchange fell 3.70 cents or 1.1% to $3.2630 per lb. Despite the downturn this morning market participants remain optimistic, with the global economy showing solid...Read More
She has 13 years' experience as a solicitor in markets relevant to the recently listed Panthera's activities and the company said it would benefit from her corporate management experience, including financing, strategic investment, project management, debt financings, asset sales and takeover defence.Apthorpe was selected as one of the Top 100 Global Inspirational Women in Mining due to her leadin...Read More
SHANGHAI, Jun 11 (SMM) – Nonferrous metals saw mixed trading on Monday June 11. SHFE nickel led losses and closed 0.79% lower. Tin dipped 0.52%, and aluminium inched down. Zinc, lead, and copper went up slightly.The ferrous complex gained for the most part. Iron ore rose 0.64%. Rebar and hot-rolled coil inched up, while coking coal lost 0.76% and coke edged down.Copper: The SHFE 1808 contrac...Read More
Los Andes closed the first tranche in early May, issuing 7.87 million units to RCF VI at 33c each for gross proceeds of C$2.6 million (US$2 million).Read More
SHANGHAI, Jun 11 (SMM) – Spot copper was mostly offered at a discount of 60 yuan/mt to flat to the SHFE 1806 contract in the Shanghai market on Monday June 11. This compared with a discount of 60-20 yuan/mt on Friday June 8.The SHFE 1806 contract strengthened this morning. It gained 260 yuan/mt to close at 53,800 yuan/mt in the morning trading session. Prices of the 1806 contract remained 20...Read More
SHANGHAI, Jun 11 (SMM) – Sales of new-energy passenger vehicles in China amounted to over 92,000 units in May, up 140% year on year and up 30% month on month, according to wholesale data from China Passenger Car Association (CPCA) released on Friday June 8.In May, sales of pure electric passenger vehicles rose 130% from a year ago and stood at 73,072 units. Sales of plug-in hybrid elect...Read More
Beowulf Mining is working in both Sweden and Finland. CEO Kurt Budge remains upbeat about the company's progress, despite ongoing problems advancing the Kallak magnetite iron ore project in Sweden's north.Read More
SHANGHAI, Jun 11 (SMM) –Copper: LME copper hit a high of $7,333/mt last Friday as the SHFE inventories fell and as China’s May imports of unwrought copper and copper products surged 22% year on year. It then edged down slightly before closure. The SHFE 1808 contract was bolstered by longs to close at 54,420 yuan/mt from a low of 54,210 yuan/mt. Open interest of SHFE copper rose over 14...Read More
Once the agreement goes through, Kefi will own 54% of Tulu Kapi, with the syndicate holding 23% and Ethiopia's government holding the remaining 23%.Read More
It placed 1.15 billion ordinary shares at 0.013p per share, with 20% shareholder Suay Chin International subscribing £1.2 million for another 923.1 million shares, bringing its total shares in Kodal to 2.2 billion, representing 29% of the issued share capital.The subscription shares will be issued and admitted to trading on AIM after receipt of the proceeds from Suay Chin by 6 July.The remai...Read More