Gold continues to sit in this consolidation range with false starts up and down. For almost a month, gold gas been trading is less than a 2% range and appears to be all dressed up with nowhere to go. This pattern will break out in one direction or the other. Next week there are three main events that could move the metals. On Tuesday, President Trump meets with North Korea, Wednesday the Fed anno...Read More
SHANGHAI, Jun 7 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar fell for three consecutive trading days and closed at 93.6 overnight while the euro climbed up. Following Canada and Mexico,the European Commission approved the decision on Wednesday to impose additional duties on the full list of US products submitted to...Read More
SHANGHAI, Jun 7 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar fell for three consecutive trading days and closed at 93.6 overnight while the euro climbed up. Following Canada and Mexico,the European Commission approved the decision on Wednesday to impose additional duties on the full list of US products submitted to...Read More
SHANGHAI, Jun 7 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar fell for three consecutive trading days and closed at 93.6 overnight while the euro climbed up. Following Canada and Mexico,the European Commission approved the decision on Wednesday to impose additional duties on the full list of US products submitted to...Read More
The latest news and price moves to start the Asian day on Thursday June 7.Copper prices on the London Metal Exchange continued to rally at the close of trading on Wednesday June 6, ending trading 1.6% higher and surpassing $7,200 per tonne for the first time since January 2. Read more in our live futures report. Here are how prices looked at the close of trading:Comex copper prices climbed by 1.6%...Read More
The latest news and price moves to start the Asian day on Thursday June 7.Copper prices on the London Metal Exchange continued to rally at the close of trading on Wednesday June 6, ending trading 1.6% higher and surpassing $7,200 per tonne for the first time since January 2. Read more in our live futures report. Here are how prices looked at the close of trading:Comex copper prices climbed by 1.6%...Read More
The latest news and price moves to start the Asian day on Thursday June 7.Copper prices on the London Metal Exchange continued to rally at the close of trading on Wednesday June 6, ending trading 1.6% higher and surpassing $7,200 per tonne for the first time since January 2. Read more in our live futures report. Here are how prices looked at the close of trading:Comex copper prices climbed by 1.6%...Read More
Copper prices on the London Metal Exchange continued to lead the base metals complex higher at the close of trading on Thursday June 7, climbing 1.5% over the day to finish above $7,300 per tonne for the first time since January 2014.The red metal's price has risen more than 7% in June, with increased uncertainty surrounding labor negotiations at BHP Billiton's Escondida mine in Chile, the world's...Read More
Comex copper prices ticked higher on Thursday June 6 due to bullish sentiment on the back of Escondida wage negotiations and a weakening dollar.Copper for July settlement on the Comex division of the New York Mercantile Exchange edged 4.5 cents or 1.4% higher to $3.307 per lb. "Copper price sentiment remains bullish on Thursday June 7; the three-month benchmark has hit a 2018 high...Read More
Toromocho copper mine, the only major greenfield project in Peru, will increase annual capacity by 45% in 2020, owner Aluminum Corp of China (Chinalco) said. The state-owned company plans to spend $1.3 billion on the ramp-up which will boost annual mining output to $2 billion worth of concentrate per year upon completion, Chinalco chairman Ge Hoglin said at a groundbreaking ceremony in the Peruvia...Read More
The European ferro-vanadium market surged earlier this week, amid a flurry of spot purchasing interest and renewed supply concerns.Spot prices for European ferro-vanadium increased to $69-71.20 per kg on June 6, delivered duty-paid in Europe, up 4.82% from $66.25-67.50 per kg on June 1, according to Metal Bulletin's mid-week assessment.Spot market buying interest picked up considerably this week f...Read More
Battery cell maker Northvolt has received the environmental permit for what will be Europe's largest lithium-ion battery cell factory, with the initial phase of construction to begin on Friday June 8. The permit was issued for the first section of the factory, in Skellefte?? in the north of Sweden, which will be completed in 2020 and produce eight gigawatt cell capacity per year. The full factory...Read More
Primary copper smelting capacities have been partly suspended in important regional hubs in China such as Jiangxi province, sources told Metal Bulletin on Thursday June 7.The action was the result of the country's environmental inspection teams being dispatched to 10 provinces to review the progress made in curbing pollution since the end of May.In Jiangxi, home to more than 600,000 tonnes per yea...Read More
The European ferro-vanadium market surged earlier this week, amid a flurry of spot purchasing interest and renewed supply concerns.Spot prices for European ferro-vanadium increased to $69-71.20 per kg on June 6, delivered duty-paid in Europe, up 4.82% from $66.25-67.50 per kg on June 1, according to Metal Bulletin's mid-week assessment.Spot market buying interest picked up considerably this week f...Read More
Toromocho copper mine, the only major greenfield project in Peru, will increase annual capacity by 45% in 2020, owner Aluminum Corp of China (Chinalco) said. The state-owned company plans to spend $1.3 billion on the ramp-up which will boost annual mining output to $2 billion worth of concentrate per year upon completion, Chinalco chairman Ge Hoglin said at a groundbreaking ceremony in the Peruvia...Read More
Assertions that cobalt could soon be eliminated altogether from electric vehicles (EVs) are simply wrong, according to the chief executive officer of First Cobalt. Trent Mell, who heads the North American pure play cobalt company, said that while the EV sector is moving toward an era of lower cobalt content per vehicle, this nonetheless has positive implications for cobalt producers. "It lowers th...Read More
Toromocho copper mine, the only major greenfield project in Peru, will increase annual capacity by 45% in 2020, owner Aluminum Corp of China (Chinalco) said. The state-owned company plans to spend $1.3 billion on the ramp-up which will boost annual mining output to $2 billion worth of concentrate per year upon completion, Chinalco chairman Ge Hoglin said at a groundbreaking ceremony in the Peruvia...Read More
Turkish steel producers continued their deep-sea scrap purchases for July deliveries on Thursday June 7, with prices increasing slightly.A steel mill in Northern Turkey booked a US cargo, comprising 34,000 tonnes of HMS 1&2 (80:20) at $347 per tonne and 8,000 tonnes of shredded at $355 per tonne cfr.Another steel mill in the Izmir region booked a Baltic Sea cargo,...Read More
China's crackdown on copper scrap imports will fundamentally alter global flows but it also presents a significant opportunity for entrepreneurial merchants and innovative companies, panelists said at Metal Bulletin's fourth annual copper seminar in New York on Wednesday June 6. The Chinese central government announced in April that it will ban imports of all Category 7 scrap items by the end...Read More
Comex copper prices ticked higher on Thursday June 6 due to bullish sentiment on the back of Escondida wage negotiations and a weakening dollar.Copper for July settlement on the Comex division of the New York Mercantile Exchange edged 4.5 cents or 1.4% higher to $3.307 per lb. "Copper price sentiment remains bullish on Thursday June 7; the three-month benchmark has hit a 2018 high...Read More