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
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.* 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 , which reported a rise in sales despite Britain's vote last year to leave the European Union....Read More
House Republicans in the US passed legislation Wednesday to block or undo regulations and executive orders recently issued by President Barack Obama.Congress has now the power to kill in one fell swoop dozens of such laws, dubbed "midnight rules" - those rolled out in the last 60 legislative days of an outgoing administration.Congress has now the power to kill in one fell swoop dozens of regulati...Read More
Investing.com - Gold prices rallied to a four-week high on Thursday, as the U.S. dollar stepped further away from a 14-year peak against a basket of major currencies following the release of commentary from the Federal Reserve.Gold for February delivery on the Comex division of the New York Mercantile Exchange touched an intraday peak of $1,179.90 a troy ounce, a level not seen since December 5.It...Read More
(Adds company news item, updates futures)Jan 5 (Reuters) - Britain's FTSE 100 index .FTSE is seen opening up to 4 points higher, or as much as 0.06 percent, on Thursday, according to financial bookmakers, with futures FFIc1 up 0.03 percent by 0757 GMT after having briefly turned negative.* The UK blue chip index closed slightly firmer at 0.17 percent higher at 7,189.74 points, near a record high,...Read More
Jan 5 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening flat to 4 points higher, or up as much as 0.06 percent, on Thursday, according to financial bookmakers.* The UK blue chip index closed slightly firmer at 0.17 percent higher at 7,189.74 points, near a record high, on Wednesday as a rally in housebuilders was offset by a slump in retailers after Next NXT.L issued a profit warning. B...Read More
Global plug-in electric vehicle (PEV) sales hit 1 million units in 2017, according to a report from Navigant Research.Sales revenues of such vehicles have increased by over 40% every year since the launch in 2011 and it is expected maintain a 38% growth rate in 2020, the reported noted.“Battery costs have dropped dramatically over the past five years and they will continue to go down with th...Read More
SHANGHAI, Jan 5 (SMM)? 1/4 ? Copper concentrate treatment charges (TCs) have come down to $76-85/mt over the past week, below the floor price at $87/mt set by China Smelters Purchase Team (CSPT) for the first quarter of this year.SMM understood that most transactions were done by small to medium-sized smelters with sellers giving pressure to buyers. In fact, such market condition is likely to last...Read More
SHANGHAI, Jan 5 (SMM)? 1/4 ?Copper: LME copper prices remained rather firm with a support at the 10-day moving average. It is possible that prices would resume the upward movement and we expect the contract to trade at $7,160-7,210/mt today. The SHFE 1803 copper, on the other hand, is forecast to trade at 54,600-55,100 yuan/mt today while we see decent physical restocking demand.Aluminium: LME alu...Read More
SHANGHAI, Jan 5 (SMM)? 1/4 ? Nonferrous metals for the most part moved higher today except a slight drop in copper. Zinc rallied in the afternoon with 1% rise at closure while lead and aluminium were up some 0.6%. Both nickel and tin edged up.Ferrous metals were softer with a mixed result. Coking coal and coke were up slightly, while hot-rolled coil dropped 0.67%. Rebar and iron ore also slipped.C...Read More
(Adds company comments)LUSAKA, Jan 4 (Reuters) - Zambian workers have downed tools at a mine and copper processing plant belonging to Konkola Copper Mines (KCM), a unit of Vedanta Resources VED.L , in a dispute over the pace of wage talks, a union official said on Wednesday.The stoppage at the Konkola mine in Chililabombwe in northern Zambia began after a Dec. 31 target for completing talks on a...Read More
Investing.com - Gold prices traded near a three-week peak on Wednesday, as the U.S. dollar slipped from its 14-year-high against a basket of currencies with investors taking profits before the release of minutes from the Federal Reserve's December policy meeting later in the day.Gold for February delivery on the Comex division of the New York Mercantile Exchange tacked on $1.60, or around 0.2%, to...Read More
(Adds futures, company news items)Jan 4 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 18 points on Wednesday, according to financial bookmakers, with futures FFIc1 up 0.20 percent ahead of the cash market open.* The UK blue chip index ended 0.5 percent higher at 7,177.89 points on Tuesday as the London Stock Exchange reopened after a long weekend. It set a record high of 7,205.45,...Read More
LUSAKA, Jan 4 (Reuters) - Zambian workers have downed tools at a mine and copper processing plant belonging to Konkola Copper Mines (KCM), a unit of Vedanta Resources VED.L , in a dispute over the pace of wage talks, a union official said on Wednesday."The day shift workers have not entered the plant, they are protesting the slow pace of salary negotiations," National Union of Mine and Allied Wo...Read More
SHANGHAI, Jan 4 (SMM)? 1/4 ? Nonferrous metals rallied this afternoon and for the most part finished higher at closure. Lead led the gains with 1% rise while copper and zinc went up slightly. Aluminium slipped, however.The ferrous market saw coke outshine others with 3% jump. Coking coal rose 0.7% and iron ore also edged up. On the other hand, rebar dropped 0.68% and hot-rolled coil slipped 0.56%....Read More
SHANGHAI, Jan 4 (SMM)? 1/4 ?Copper: LME copper was under pressure to move towards the 10-day moving average and it is expected to trade at $7,130-7,180/mt today. The main contract SHFE copper is to trade at 54,500-55,500 yuan/mt. In the spot market, the discounts are likely to be narrowed to 90-50 yuan/mt today.Nickel: Nickel futures saw downward correction pressure as Chinese domestic stainless s...Read More