Garry Jones, the London Metal Exchange (LME) chief executive for the last three years, has left one of the world's largest and oldest metals markets, becoming the second senior manager to step down in two months.The move, announced by LME's parent company Hong Kong Exchanges and Clearing Ltd (HKEX), follows a difficult year that saw declining volumes, a fraud case come to light and the departure o...Read More
Investing.com - Gold prices rose sharply during European morning trade on Monday, hitting the strongest level in around two months as the U.S. dollar tumbled amid uncertainty around the economic policies of new U.S. President Donald Trump.Gold for February delivery on the Comex division of the New York Mercantile Exchange touched a session high of $1,219.40 a troy ounce, a level not seen since Nov...Read More
Description This Metals Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved. For industry participants and advisors who want to look at the trends, risks and issues surrounding this topic, this report gives you an expert point of view to help inform your decision making. Our analysts are based in the markets they analyse and work with...Read More
SHANGHAI, Jan 23 (SMM)? 1/4 ?Copper: It appears to be difficult for SHFE copper to break through its several moving averages as physical demand remained sluggish ahead of Chinese New Year due to tighter cash. However, copper prices are unlikely to fall much considering tighter supply of copper ore and copper scrap. We expect prices to be rangebound in the near term.Aluminium: We maintain our view...Read More
SHANGHAI, Jan 23 (SMM) – Two copper scrap companies under Category Seven were in the list of the fourth batch of approved scrap import applications this year, according to a release from the Ministry of Environmental Protection on Monday January 22.The approved volumes for copper scrap slumped 95% from a year ago as the list contained mainly wastepaper companies this time.However, SMM believ...Read More
SHANGHAI, Jan 23 (SMM) - China produced 865,000 mt of copper in December last year, up 16.7% from December 2016, data from the National Bureau of Statistics (NBS) showed. This was the highest monthly output since February 2015. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service.en@sm...Read More
SHANGHAI, Jan 23 (SMM)? 1/4 ?Copper: LME copper is expected to trade at $7,030-7,120/mt on weaker bullish sentiment while SHFE 1803 is expected to trade at 53,450-54,000 yuan/mt. We see spot discounts at 130-90 yuan/mt today.Aluminium: LME aluminium remains strong and is expected to trade at $2,220-2,260/mt while SHFE aluminium is expected to trade at 14,600-14,800 yuan/mt, driven b...Read More
Investing.com - Gold ended higher on Friday, buoyed by the weaker dollar as the inauguration of Donald Trump as U.S. president fueled uncertainty about the direction of fiscal and economic policy.Gold for February delivery settled up 0.67% at $1,209.5 on the Comex division of the New York Mercantile Exchange.The metal was 0.75% higher for the week, helped by a broad weakening of the U.S. dollar.Th...Read More
SHANGHAI, Jan 22 (SMM)? 1/4 ?Nonferrous metals saw a mixed performance today. Nickel led gains with a 2% rise, followed by tin with a 1.4% gain. Zinc edged up 1% and copper and lead rose slightly. Only aluminium saw a decline today.Ferrous metals saw narrower rises. Coke rose 1.5% while rebar and hot-rolled coil moved higher slightly over 1%. Iron ore gained 0.7% while coking coal dipped...Read More
China’s refined copper output rises 16.7% on a yearly basis to 865,000 mt in December, setting a new high since February 2015, according to data released by the National Bureau of Statistics today.The article is edited by SMM and is provided for information purpose only. It does not mean SMM agrees with its views and SMM assumes no liability for accuracy of information contained or quoted in...Read More
SHANGHAI, Jan 22 (SMM)? 1/4 ?Copper: LME copper sees resistance and is expected to retrace further towards $7,000/mt. With weak spot demand and excess inventory, LME copper is expected to trade at $7,010-7,065/mt while SHFE 1803 is to trade at 53,100-53,650 yuan/mt. Spot discounts are to move at 150-100 yuan/mt today.Aluminium: We see LME aluminium trading at $2,200-2,230/mt to...Read More
President Donald Trump's picks for his Cabinet appear to back up his campaign pledges to boost US oil and gas production and streamline infrastructure approvals.From the longest serving Texas governor in history to the former head of ExxonMobil, the administration may ultimately become the most oil and gas-friendly in decades.Confirmation hearings in the US Senate have been held for all of these n...Read More
As the book closes Friday, January 20, 2017, on President Barack Obama's two terms, here are the price averages during his tenure for some key commodity benchmarks, as well as the latest price. The commodities clock during President Donald Trump's tenure will start ticking in earnest on Monday, January 23, and S&P Global Platts will update the same running averages accordingly.Read More
Chile's President Michelle Bachelet has signed into law a bill that gives state-owned Codelco $975 million in fresh funds to help it cope with a recently passed "copper law," which forces the miner hand 10% of its revenues over to the armed forces.The bill, unanimously approved by both houses of congress, grants the world's largest copper producer $500 million, which come from the so-called 201...Read More
Investing.com - Gold prices edged higher on Friday, re-approaching a recent two-month peak as caution surrounding Donald Trump's future policies continued to boost demand for the safe-haven precious metal.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were up 0.40% at $1,206.15, not far from Wednesday's two-month high of $1,214.70.The February contrac...Read More
(Adds futures, company news item)Jan 20 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 9 points at 7,217 on Friday, according to financial bookmakers, with futures FFIc1 up 0.06 percent ahead of the cash market open.* The UK blue chip index closed down 0.54 percent at 7208.44 points on Thursday, dragged down by British parcel and postal firm Royal Mail RMG.L , whose results were b...Read More
Jan 20 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 9 points at 7,217 on Friday, according to financial bookmakers.* The UK blue chip index closed down 0.54 percent at 7208.44 points on Thursday, dragged down by British parcel and postal firm Royal Mail RMG.L , whose results were badly received. ROYAL BANK OF SCOTLAND: Japanese financial services firm Orix Corp 8591.T has agreed...Read More
Economic growth is not a mystery. As Dr. John Hussman reminds us, economic growth always comes down to the sum of just two things: 1) more people working, 2) higher productivity. Add them up and you get the real growth rate. Everything else means nothing unless it contributes to these two factors.Hussman assumes that the unemployment rate falls to an incredibly optimistic 2% by 2024 (from its curr...Read More