* STOXX 600 ends up 1.5 percent* Banks top sectoral gainer on U.S. rate hike prospects* Builder CRH (LON:CRH) helps lift sector index to 10 year high* Basic resources, defence stocks also in demand (Adds details, closing prices)By Danilo MasoniMILAN, March 1 (Reuters) - European shares climbed to 15-month highs on Wednesday, with banks and construction stocks leading the rally on renewed optimis...Read More
SHANGHAI, Mar 1 (SMM) – This is a roundup of global macro-economic news last night and what is expected today.Last nightAs the US dollar continued to go up, with the dollar index hitting a post-Chinese New Year high at 90.62, and China’s manufacturing purchasing managers’ index (PMI) failed to meet expectations, we saw a big slump in base metals futures except for SHFE alumi...Read More
SHANGHAI, Mar 1 (SMM) -Copper: LME copper lost support at the $7,000/mt level and SHFE copper fell to a low of 52,380 yuan/mt overnight as the US dollar remained strong. With pressure on base metals, we see copper staying rangebound in the short term with possible upward room in the medium term. We expect LME copper to trade at $6,900-6,970/mt and the SHFE 1804 contract to trad...Read More
Scientists have discovered why some of the richest ore deposits on the planet, such as copper, zinc, silver and uranium, were formed in the middle period of Earth's history.A team of scientists from the University of Tasmania and University of California, led by Emeritus Professor Ross Large from the ARC Centre of Excellence in Ore Deposits (CODES), has shown that the rise of oxygen in the atmosph...Read More
Canada's British Columbia and the Territories are the country's mining districts where it takes the longest to obtain exploration permits, a new report released Tuesday shows.According to a survey of mining executives by policy think-tank the Fraser Institute, while Canadian provinces and territories fared well compared to international competitors in terms of issuing permits in a timely manner, s...Read More
Two Canadian provinces - Saskatchewan and Manitoba - are the world's top two most attractive mining investment destinations, displacing Western Australia from the first to the third place, the latest annual global survey of mining executives released Tuesday by the Fraser Institute shows.According to Canada's policy think-tank's Annual Survey of Mining Companies, the other seven jurisdictions...Read More
* Graphic: FX rates in 2017 http://tmsnrt.rs/2egbfVh* Europe stocks flat, world shares set for 4th month of gains* Trump flags big infrastructure spend before Tuesday speech* Oil futures firm, gold retreats from 3-1/2-month highBy Marc JonesLONDON, Feb 28 (Reuters) - World stocks hovered just off all-time highs and were on course for a fourth straight month of gains on Tuesday, as investors awaite...Read More
* Graphic: FX rates in 2017 http://tmsnrt.rs/2egbfVh* Europe stocks up, world shares set for 4th month of gains* Trump flags big infrastructure spend before Tuesday speech* Oil futures firm, gold retreats from 3-1/2-month highBy Marc JonesLONDON, Feb 28 (Reuters) - World stocks hovered just off all-time highs and were on course for a fourth straight month of gains on Tuesday, as investors awaited...Read More
Description As global demand weakens and commodity prices fall, we're seeing a challenging environment in the metals and mining industry. Mining companies are increasingly coming under pressure to reduce operating costs, causing many to shift their strategic planning, delay new investments and look to long-term future growth. This Copper Short Term Outlook report provides a detailed breakdown of...Read More
SHANGHAI, Feb 28 (SMM) – Nonferrous metals futures saw mixed trading on Wednesday February 28 with SHFE lead leading the loss with a 1.5% drop. SHFE copper was down by 1.4%, zinc slid over 1%, while nickel edged down. Aluminium and tin inched up.In the ferrous market, rebar and hot-rolled coil were up slightly while coking coal was down over 1%. Coke and iron ore edged down.Copper: The SHFE...Read More
SHANGHAI, Feb 28 (SMM) -Copper: A stronger US dollar drove LME copper lower towards the 60-day moving average, but prices are likely to rise in the medium term as downstream consumption recovers and Chinese scrap imports decline. We see LME copper to trade at $7,000-7,070/mt and the SHFE 1804 contract at 52,500-53,100 yuan/mt today. Spot discounts are seen getting smaller as sellers held up.A...Read More
In New York on Monday copper for delivery in May was trading slightly for the better at $2.6980 per pound or $5,940 a tonne after conflicting reports about talks between BHP Billiton and workers at its Escondida mine in Chile.Two weeks ago copper jumped to its highest level since late May 2015 after Escondida workers first went on strike and is showing year-to-date gains of 7%.In a television...Read More
Cupric Canyon Capital, a private equity firm backed by the ex-Natural Resource Investments unit of Barclays and managed by former executives of Freeport McMoran, said Monday it now has $50 million to bring its Botswana copper-silver project into production.Khoemacau is expected to initially produce 50,000 tonnes of copper and 1.4 million ounces of silver a year, but future expansions could increa...Read More
Investing.com - Gold prices were little changed near a three-and-a-half-month high during European morning hours on Monday, as market players looked ahead to U.S. President Donald Trump's address to Congress on Tuesday for further details on his promises of tax reform, deregulation and infrastructure spending.Investors also looked ahead to a speech by Federal Reserve Chair Janet Yellen on Friday f...Read More
SHANGHAI, Feb 27 (SMM) - Copper: We see SHFE copper gaining support at 53,000 yuan/mt in the short term as recovery of downstream consumption is set to boost copper prices. We expect LME copper to trade at $7,080-7,150/mt and the SHFE 1804 contract to trade at 53,190-53,700 yuan/mt today.Aluminium: With pressure from short bets, we expect LME aluminium to continue to test the 60-day...Read More
Investing.com - Gold prices hit three-and-a-half month highs on Friday as hopes for rapid tax reforms under the Trump administration faded, bolstering demand for the precious metal.Gold for April delivery settled up 0.53% at $1,258.05 on the Comex division of the New York Mercantile Exchange, having touched its highest since November 11 at $1,258.8 earlier.Gold finished the week with gains of 1.56...Read More
SHANGHAI, Feb 26 (SMM) – Metals futures on the SHFE performed strongly today as nonferrous metals rose across the board except for tin, which edged down slightly. Nickel went up 0.72%. Copper, aluminium, zinc and lead also inched up.Ferrous metals remained firm as coke jumped over 4% and hot-rolled coil increased by close to 4%. Rebar rose over 3%, coking coal rose over 2% and iron ore edged...Read More