SHANGHAI, Jan 18 (SMM)? 1/4 ?Lead stood out among nonferrous metals with a 1% rise. Tin declined 1% and nickel slipped 0.43%. Copper, zinc and aluminium slid slightly.The ferrous complex performed better. Iron ore rose 1.42% and rebar rose 1%. Coke edged up 0.74% and hot-rolled coil gained 0.55%. Coking coal gained slightly.Copper: Copper faces a downward trend in the short term, an...Read More
China's gross domestic product (GDP) grew 6.9% in 2017, beating expectations of 6.8%. GDP growth for 2016 was also 6.9%GDP in Q4 2017 grew 6.8%, slightly above expectations of 6.7%.On a quarterly basis, GDP expanded 1.6%, just under expectations of 1.7%.The article is edited by SMM and is provided for information purpose only. It does not mean SMM agrees with its views and...Read More
SHANGHAI, Jan. 18 (SMM)? 1/4 ?Nonferrous metals saw more deficits from January to November 2017 compared to the same period in 2016, according to a release from the World Bureau of Metal Statistics (WBMS).AluminiumAluminium saw a deficit of 1.57 million mt, following a deficit of 770,000 mt in 2016. Demand for primary aluminium for January to November 2017 was 54.92 million mt. This was 1.41...Read More
SHANGHAI, Jan 18 (SMM)? 1/4 ?Copper: Prices face downward pressure in the short term. LME copper is expected to trade at $7,000-7,130/mt today while the SHFE 1803 contract is to trade at 53,000-54,200 yuan/mt. On the spot market, discounts are likely to narrow to 160-110 yuan/mt as downstream customers restock.Aluminium: LME aluminium is expected to stay rangebound at $2,175-2,200/mt tod...Read More
The surge in the copper price to near 18-month highs following Donald Trump's win in the US presidential election came as a surprise to an industry under pressure since 2011 over growing supply.The bullishness about the impact of Trump's $500 billion infrastructure plans and solid growth in top consumer China on demand for the bellwether metal has cooled down considerably.2016 was the fifth year...Read More
The Democratic Republic of Congo has dropped its opposition to the sale of the Tenke Fungurume mine by Freeport-McMoRan (NYSE:FCX) and Lundin Mining's (TSX:LUN) to Chinese investors for $3.8 billion.State-owned Gecamines which owns 20% of the copper mine, strongly opposed the deal and in October opened an arbitration case in Paris. Gecamines was particularly unhappy about Lundin's right of first...Read More
About half of all the African countries either host significant operating mines or have advanced exploration projects, yet investors tend to shy away due to perceived risks such as high levels of corruption and political uncertainty, a new report shows.There is an urgent need to refill the mining project pipeline of African countries with early stage exploration projects of all shapes and sizes.Th...Read More
* Dollar, bond yields slip on Trump* Eyes on key Brexit speech from British PM May* Graphic: World FX rates in 2017 http://tmsnrt.rs/2egbfVhBy Nigel StephensonLONDON, Jan 17 (Reuters) - Stocks, bond yields and the dollar fell on Tuesday, while gold rose as investors drew in their horns in response to comments on the dollar from U.S. President-elect Donald Trump and ahead of a speech on Brexit from...Read More
Investing.com - Gold prices climbed to the highest level in around eight weeks on Tuesday, as investors looked ahead to a highly-anticipated speech by British Prime Minister Theresa May later in the day, at which she is expected to outline her plans for a 'Hard Brexit'.Gold for February delivery on the Comex division of the New York Mercantile Exchange touched a session peak of $1,212.50 a troy ou...Read More
China has basically completed capacity cuts in the steel sector, said Shen Ying, general accountant of the State-owned Assets Supervision and Administration Commission (SASAC) on Wednesday January 17. Moving forward, China will push for a technology upgrade in the steel industry.In 2018, the country aims to further restructure the coal industry and reduce capacity by more than 10 mi...Read More
SHANGHAI, Jan 17 (SMM)? 1/4 ?SHFE lead stood out from the performance of other nonferrous metals on Wednesday afternoon, with a 0.6% rise. Nickel was down 2% and copper was down almost 2%. Aluminium dipped 1.8%. Zinc and tin also slid slightly.The ferrous complex also dipped. Coking coal fell 2% despite a slight rise of rebar. Coke and iron ore dipped almost 1% and hot-rolled coil slight...Read More
SHANGHAI, Jan 17 (SMM)? 1/4 ?Copper: LME copper is expected to trade at $7,030-7,230/mt while the SHFE 1803 contract is to trade at 53,450-54,600 yuan/mt. On the spot market, the discounts are expected to move at 160-120 yuan/mt.Aluminium: LME aluminium is expected to trade at $2,180-2,200/mt with support at the 20-day moving average while SHFE aluminium is expected to trade at 14,500-14,750...Read More
A team of researchers from Canada's University of British Columbia (UBC) say that recovering metals such as copper and rare earths from LED lights may turn to be an economical option.Professor Maria Holuszko and PhD student Amit Kumar told The Province they have successfully recovered copper, silver and are certain they might also be able to extract some rare earths such as europium, cerium and...Read More
Investing.com - Gold prices started the week higher on Monday, rallying to the strongest level in around two months as investors looked ahead to a highly-anticipated speech by British Prime Minister Theresa May and U.S. President-elect Donald Trump's inauguration later this week.Gold for February delivery on the Comex division of the New York Mercantile Exchange touched a session peak of $1,208.70...Read More
SHANGHAI, Jan 16 (SMM)? 1/4 ?Nonferrous metals futures were weak on Tuesday afternoon, with aluminium dropping nearly 3% and nickel down 1.8%. Lead was down 1% and copper down 0.7%. Tin also dropped slightly.The ferrous complex also dropped in the afternoon. Coking coal dropped almost 4% and iron ore dropped 1.6%. Coke slipped 1.5% and hot-rolled coil dropped slightly. Rebar edged up slightly at c...Read More
SHANGHAI, Jan 16 (SMM)? 1/4 ?Copper: LME copper is expected to trade at $7,150-7,250/mt today while the SHFE 1803 copper is to trade at 54,430-55,200 yuan/mt. We see spot discounts at 220-140 yuan/mt today as buying interest weakened following higher futures prices.Nickel: LME nickel is expected to stay rangebound today and its Chinese counterpart is to trade at 99,200-100,600 yuan/mt. Spot prices...Read More
Public Service of Canada prosecutor Alexander Clarkson announced that the Crown wants to enter a stay of proceedings in relation to MiningWatch Canada's private prosecution against the Mount Polley Mining Corporation and the Government of British Columbia over the 2014 Mount Polley Mine tailings breach near the city of Williams Lake.In other words, the federal government is seeking a withdrawal of...Read More