Investing.com - Gold prices rallied to a seven-week high on Thursday, as the U.S. dollar sank after President-elect Donald Trump's highly-anticipated press conference failed to offer details on his plans to boost fiscal spending and cut taxes.Gold for February delivery on the Comex division of the New York Mercantile Exchange touched a session peak of $1,202.35 a troy ounce, a level not seen since...Read More
SHANGHAI, Jan 12 (SMM)? 1/4 ? SHFE zinc stood out from the performance of other nonferrous metals with a 0.8% rise today, while nickel was down close to 2% and lead down 1%. Copper and aluminium both edged down 0.5%.The ferrous complex remained weak with iron ore down over 2% and rebar down 1.6%. Coking coal and hot-rolled coil were down some 1.4% and coke closed 0.7% lower.Copper: SHFE copper was...Read More
SHANGHAI, Jan 12 (SMM)? 1/4 ?Copper inventory in Shanghai bonded area stood at 481,000 mt for the week ending Friday January 12, up from 480,200 mt last week. 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@smm.cn Read More
SHANGHAI, Jan 12 (SMM)? 1/4 ?China’s imported unwrought copper reached 4.69 million mt in 2017, down 5.2% from levels seen in 2016.The import volume in December stood at 450,000 mt, down 4.3% from a month ago and down 8.2% from December 2016. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, pleas...Read More
SHANGHAI, Jan 12 (SMM)? 1/4 ?Copper: LME copper is expected to trade at $7,065-7,200/mt today with support at the 20-day moving average while the SHFE 1803 contract is to trade at 54,200-55,300 yuan/mt. In the spot market, the premiums are set to be firmer at flat to 50 yuan/mt today.Zinc: LME zinc is aiming for $3,400/mt against the backdrop of good fundamentals in the international market. We se...Read More
After four-plus years of declines, 2016 was a comeback year for natural resources and the oil and mining industries - with only a couple of exceptions, energy, metal and mineral prices rallied last year.According to a new report by private capital tracker Preqin, the improving conditions of last year did not filter through to all sectors.Overall fundraising for natural resources investment actual...Read More
Egypt will hold this Sunday its first international tender for gold mining concessions, most of which are located in Sinai and the Eastern Desert, the Egyptian Mineral Resources Authority (EMRA) said.In a statement quoted by Ahram Online, the body said the cost of participating in the bidding round, scheduled to end mid-April, is $1,000. An additional $5,000 will be charged for documents contain...Read More
Shares in Yamana Gold (TSE:YRI) (NYSE:AUY) were down more than 2% in both Toronto and New York Wednesday morning after the miner confirmed its El Pe????n mine in Chile has been suspended since Friday due to a strike that is expected to be joined by more unionized workers in the coming days.Operations have been suspended since Friday after underground workers rejected the company's final offer an...Read More
Investing.com - Gold prices rose to a fresh six-week high on Wednesday, as markets looked ahead to President-elect Donald Trump's first press conference since his election victory later in the day.Gold for February delivery on the Comex division of the New York Mercantile Exchange touched a session peak of $1,191.00 a troy ounce, a level not seen since November 30.It was last at $1,188.35 by 3:20A...Read More
SHANGHAI, Jan 11 (SMM) – Nonferrous metals traded up for the most part today with SHFE aluminium leading the gains with 1.2% rise and nickel up 1%. Copper and zinc also edged up slightly while SHFE lead was down 0.56%.The ferrous complex saw coking coal finish higher by 0.73% while rebar and hot-rolled coil also registered rises. Coke dropped 0.49% and iron ore slipped 0.36%.Copper: SHFE cop...Read More
SHANGHAI, Jan 11 (SMM)? 1/4 ? Trading in China’s physical imported copper market is likely to stay thin until Chinese New Year with spot premiums under pressure, SMM believes.SMM’s Yangshan copper premium with warehouse warrant dropped to $75.5/mt on Thursday January 11, lowest level since late October last year. This is mainly due to weaker import demand and the close of arbitrage win...Read More
SHANGHAI, Jan 11 (SMM)? 1/4 ?Copper: LME copper sees support at $7,100/mt and is expected to trade at $7,100-7,200/mt today, while the SHFE 1803 copper is expected to trade at 54,600-55,500 yuan/mt. Spot premiums are set to be stable today at flat to 50 yuan/mt with the approaching futures delivery.Zinc: LME zinc remained firm with low inventory. We expect it to trade between the five-day and 10-d...Read More
A pillar of president-elect Trump's economic plan is fiscal stimulus in the form of tax cuts and $500 billion-plus of infrastructure spending.Trump's victory sparked a rally in the copper price which is seen as a bellwether for metals and industry as a whole thanks to its widespread use in construction, the power sector, manufacturing and transportation.The World Bank's outlook for the world ec...Read More
Commodity bulls got a hold of the two biggest mining markets on Tuesday providing both copper and iron ore a more than 3% boost in price after upbeat news from top consumer China and forecasts of strong growth in the US.The Northern China import price of 62% Fe content ore added 3.2% to $80.10 per dry metric tonne, a three-week high according to data supplied by The Steel Index. Copper futures tra...Read More
Before a megaproject gets the nod to go ahead, a very unique set of circumstances must first be considered.There is no blueprint or shortcut for building a world-changing megaproject. In fact, each one must be designed and built from the ground up, often amidst considerable amounts of red tape and criticism. Builders of megaprojects embrace the unknown, even when faced with incredible amounts of r...Read More
Canada's Erdene Resource (TSX:ERD), one of the very few miners to never have encountered issues in Mongolia, unveiled Tuesday results for nine diamond drill holes from its step-out program at Bayan Khundii gold project, which shows a discovery made in October is larger than originally thought.The project, now Erdene's flagship venture, has grown to prominence in the past 18 months. The company ha...Read More
Canadian junior Filo Mining (TSX-V:FIL), a Lundin Group company, is moving ahead with its flagship into copper, gold and silver project straddling the Chile-Argentina border by investing US$7 million to step up drilling efforts.The Vancouver-based company plans to complete 6,000 metres of additional drilling by April this year with the goal of expanding the oxide resource. It also expects to condu...Read More
* European stocks in positive territory* FTSE hits new record high* Brexit worries push sterling to new lows* U.S. stock index futures trade with slight gains* Oil prices edge up, stable after Monday's sell-off* Turkish lira tumbles to fresh record low* Live Markets blog: reuters://realtime/verb=Open/url=http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageId=livemarkets (Recasts, updates thr...Read More