China’s producer price index (PPI) in December rose 4.9% from the same month a year ago, higher than the expectation at 4.8%. The growth in December, however, was lower than the 5.8% seen in November.The country’s consumer price index (CPI), on the other hand, rose 1.8% in December, below the expectation at 1.9%. But this is higher than the growth in November at 1.7%. T...Read More
SHANGHAI, Jan 10 (SMM)? 1/4 ?Copper: There is still room for downward movement for copper prices and we see LME copper likely to trade towards the $7,000/mt level. We expect the LME contract to trade at $7,070-7,130/mt today and the SHFE contract at 54,400-54,900 yuan/mt. Spot premiums are to rise to 30-80 yuan/mt today.Zinc: LME zinc began to slip after touching $3,400/mt and we expect it to trad...Read More
Shares in Auryn Resources Inc (TSE:AUG) jumped more than 15% on Monday, after the company announced an investment agreement with Goldcorp which will see the Vancouver-based giant take a 12.5% stake in Auryn for C$41.2 million (roughly US$31 million).During lunchtime trade the Vancouver-based junior was exchanging hands at $3.56 a share, up 16.7% on the TSX exchange in heavier than usual volume...Read More
The government of US President-elect Donald Trump will have no significant impact on foreign investments into Iran's mining sector, as any re-instatement of sanctions will, if at all, pose minimal additional hurdles to entrepreneurs, according to analysts.In a note Monday, BMI researchers say they rather see other factors, such as domestic operational challenges and low mineral prices, preventing...Read More
(Repeats to additional subscribers)* FTSE 100 hits new record high, up 0.2 pct* Basic resources support index* Bookmaker William Hill tumbles after 2016 results* FTSE small-cap hits new record highBy Helen ReidLONDON, Jan 9 (Reuters) - Britain's blue-chip index hit a new record high on Monday, supported by sterling's weakness on 'hard Brexit' concerns, as miners continued to lead sectoral gains....Read More
Investing.com - Gold prices inched up toward a four-week high on Monday, as market players awaited further evidence to gauge if the world's largest economy is strong enough to withstand higher borrowing costs in the months ahead.Gold for February delivery on the Comex division of the New York Mercantile Exchange tacked on $3.55, or 0.3%, to $1,176.95 a troy ounce by 3:45AM ET (08:45GMT), after fal...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 9 (SMM)? 1/4 ?Nonferrous metals traded higher this afternoon with zinc and nickel rising over 1%. Lead and copper were up close to 1%, while tin and aluminium edged down slightly.Ferrous metals were firm today with iron ore leading the gain with over 3% rise. Coking coal moved higher by 1.7%, while hot-rolled coil and rebar rose over 1%. Coke also traded up slightly.Copper: SHFE copp...Read More
SHANGHAI, Jan 9 (SMM) – SMM surveys major Chinese producers in the base metals market every month to get first-hand production data. The following table shows the latest output in December and our forecast for January.CopperChina’s copper output rose in December as some large producers looked to hit their annual production target at the year-end. Qingyuan Jiangxi Copper and Shandong Hu...Read More
SHANGHAI, Jan 9 (SMM)? 1/4 ?Cooper: While LME copper sees temporary support at $7,100/mt, the SHFE copper is expected to trade downwards to 54,000 yuan/mt. However, the implementation of copper scrap policy and the expected supply tightness of concentrate would limit the down side. LME copper is expected to trade at $7,090-7,150/mt today and the SHFE 1803 contract is to trade at 54,300-54,900 yuan...Read More
Courtesy of: Visual Capitalist2016 Commodity PerformanceIt was an up and down year for commodities, but things ultimately finished in the black.The S&P Goldman Sachs Commodity Index (GSCI) climbed 10.1% on the year - it was just enough to edge out the S&P 500, which ended 2016 with a 9.5% return.WINNERS IN 2016The biggest winners on the year were base metals and the oil and gas sector.Here's how b...Read More
Investing.com - Gold prices fell on Friday, retreating from the previous sessions one-month highs as the dollar strengthened against a currency basket after U.S. jobs data showed a slowdown in hiring in December but a pickup in wage growth.Gold for February delivery settled down 0.73% at $1,172.65 on the Comex division of the New York Mercantile Exchange.The metal was still 1.97% higher for the we...Read More
SHANGHAI, Jan 8 (SMM)? 1/4 ?Nonferrous metals traded lower today except for the slight rise in zinc price. While lead was stable, aluminium and copper dropped close to 1%. Nickel and tin also edged down. Ferrous metals saw a rather strong movement today. Iron ore and coking coal rose almost 3%, while coke, hot-rolled coil and rebar rose nearly 1%.Copper: We see room for SHFE copper prices to...Read More
SHANGHAI, Jan 8 (SMM)? 1/4 ?Copper: LME copper fell below the 10-day moving average and is expected to stay soft at $7,090-7,140/mt today with support at $7,000/mt. The SHFE 1803 copper is expected to trade at 54,300-54,800 yuan/mt. Spot prices are expected at 20 yuan/mt discount to 30 yuan/mt premiums today.Aluminium: The support of the 10-day moving averages became weaker for LME aluminium...Read More
The US Environmental Protection Agency (EPA) said Friday the total amount of metals dumped into the Animas River following a 2015 mine spill triggered by the own agency was comparable to four to seven days of ongoing acid drainage from the Gold King mine (GKM).The revelation is part of a final report on the Colorado mine spill, published today, which focuses on understanding all possible effects t...Read More
Miner and commodities trader Glencore (LON:GLEN) is mulling to hike its stake in the Mutanda mine in the Democratic Republic of Congo, a copper asset it jointly owns with billionaire mining tycoon Dan Gertler.The Swiss firm, which already owns 69% of the mine, confirmed Thursday it was studying strategic options for the venture, adding it would make a further announcement if appropriate.The fir...Read More
(Adds futures, company items)Jan 6 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 2 to 7 points higher, or as much as 0.1 percent, on Friday, according to financial bookmakers, with futures FFIc1 up 0.1 percent ahead of the cash market open.* The UK blue chip index closed 0.1 percent higher at 7,195.31 points on Thursday, boosted by a bullish update from housebuilder Persimmon PSN.L...Read More