Base metals on the London Metal Exchange ended mostly lower at the close of trading on Tuesday June 26, weakened by volatile trade relations between the United States and other major economies. "In terms of today's action, we are down once again in the metals space, as the sector typically lands squarely in the middle of any US/Chinese trade spat, real or imagined," INTL FCStone analyst Edward Mei...Read More
Comex copper prices traded at the lowest point since March 2018 on Tuesday June 26 with threats of a growing trade war weighing on the metals complex. Copper for July settlement on the Comex division of the New York Mercantile Exchange inched down 0.40 cents or 0.1% to $2.9830 per lb. Earlier, the contract touched $2.9795, the lowest since March 26. "Copper has slipped since mid-June due to growin...Read More
Iron ore prices remained rangebound on Tuesday June 26, with the sudden depreciation in the yuan's value against the US dollar causing some jitters in the market.Metal Bulletin 62% Fe Iron Ore Index: $66.62 per tonne cfr Qingdao, up $1.13 per tonneMetal Bulletin 58% Fe Premium Index: $52.77 per tonne cfr Qingdao, down $0.29 per tonneMetal Bulletin 65% Fe Iron Ore Index: $90.40 per tonne cfr Qingda...Read More
Peter KrauthSilver prices continue their slump from the previous week thanks to two major culprits…The first is the U.S. dollar, and the second is sentiment.The U.S. Dollar Index (DXY) spent most of the week powering higher, eventually reaching as high as 95.5, a level not seen in over eight months.Of course, hawkish comments from U.S. Federal Reserve Chair Jerome Powell helped power a rally...Read More
By Andy HomeCopper has fallen almost nine percent in price over the last couple of weeks.In London three-month copper was this morning struggling to hold the $6,700 level, a chart area last breached in early April.Copper has been caught up in the broader risk-off trade that has accompanied the steady ratcheting up of trade war rhetoric.But the price weakness is also reflecting what is, by copper's...Read More
Canada's Yamana Gold Inc. (TSX: YRI) (NYSE: AUY) said Tuesday it has produced first gold and silver at its Cerro Moro mine, located in Argentina's Santa Cruz province.The Toronto-based miner, which began construction at Cerro Moro in 2015 and poured first dor?(C) last month, expects to finish building the mine this year.The company expects most of Cerro Moro's 2018 production in the second half o...Read More
SHANGHAI, Jun 27 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index, which measures the greenback against a basket of six currencies, was up 0.4% at 94.66 on Tuesday.Most base metals rebounded overnight. LME aluminium surged over 2%, copper, lead, zinc and nickel edged up slightly while tin dipped. SHFE metals rose acros...Read More
SHANGHAI, Jun 26 (SMM) – The floor price of imported copper concentrate treatment charges (TCs) for the third quarter is likely to stand at $85-87/mt, up from $78/mt in the second quarter, SMM estimated. The price is set to be determined at the end of this month as the China Smelters Purchase Team (CSPT) convenes in Manzhouli of Inner Mongolia, SMM learned.We expect the floor...Read More
(Repeats June 26 column with no changes to the text. The opinions expressed here are those of the author, a columnist for Reuters.)* Chilean copper production: https://tmsnrt.rs/2KnTcZ7By Andy HomeLONDON, June 26 (Reuters) - Copper has fallen almost nine percent in price over the last couple of weeks.In London three-month copper CMCU3 was this morning struggling to hold the $6,700 level, a chart a...Read More
* European shares steady after China enters bear territory* Tech shares retreat broadly on latest US-China row* Dollar finds some traction as US yields start to rise* Metals knocked back in latest trade storms* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Marc JonesLONDON, June 26 (Reuters) - Gains on Wall Street and Europe's main stock exchanges relieved nervy investors on Tuesday,...Read More
SHANGHAI, Jun 26 (SMM) – Both nonferrous and ferrous metals futures, except for SHFE lead, fell across the board on June 26. Lead jumped over 1.2%, while nickel slumped nearly 2.5%. Zinc and aluminium lost some 1.1%. Tin and copper inched down. Coke plunged nearly 3.9%, coking coal dropped 2.1%, rebar declined 1.8%, and hot-rolled coil went down 1.4%. Iron ore closed slightly lower.&nbs...Read More
(The opinions expressed here are those of the author, a columnist for Reuters.)* Chilean copper production: https://tmsnrt.rs/2KnTcZ7By Andy HomeLONDON, June 26 (Reuters) - Copper has fallen almost nine percent in price over the last couple of weeks.In London three-month copper CMCU3 was this morning struggling to hold the $6,700 level, a chart area last breached in early April.Copper has been cau...Read More
SHANGHAI, Jun 26 (SMM) – The boom of shanty town redevelopment in China may cool down after China Development Bank (CDB) took away the local approval authority on renovation projects.Share prices of Chinese real estate developers tumbled on Monday June 25 following market talk that Beijing planned to ban shanty town redevelopment altogether and that CDB would stop approving pledged supplemen...Read More
Investing.com - Gold prices headed lower for a second consecutive session in early morning trade on Tuesday, hitting a six-month low, as the dollar moved higher and fears of escalating trade tensions did little to support the safe haven precious metal.At 6:11AM ET (10:11GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange fell $10.00, or 0.8%, to $1,258....Read More
SHANGHAI, Jun 26 (SMM) –Copper: The SHFE 1808 contract opened below the 60-day moving average and touched a low of 51,370 yuan/mt overnight. LME copper broke the support at the $6,800/mt level overnight despite a strike threat at Codelco's Chuquicamata mine in Chile. In China, downstream demand remained sluggish amid slack season and cash woes towards the end of the first half despite th...Read More
* European shares steady after China enters bear territory* Tech shares retreat broadly on latest US-China row* Dollar finds some traction as US yields start to rise* Metals knocked back in latest trade storms* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Marc JonesLONDON, June 26 (Reuters) - Modest gains from Europe's main bourses relieved nervy investors on Tuesday, after the lates...Read More
Outlines Development of Battery-Graphite Manufacturing Business in Alabama Producing Advanced, High Quality and High Margin Graphite Products for Battery ManufacturersCENTENNIAL, Colo., June 26, 2018 - Westwater Resources, Inc. ("Westwater," or the "Company") (Nasdaq: WWR), a green energy materials development company, announced today that it has issued its business plan for producing advanced gr...Read More
(Adds analyst comment, updates prices throughout)* White House officials send mixed messages on trade policy* Yen two-week high vs dollar on risk aversion* Chinese yuan hits lowest in six months* Commodity currencies softer as oil rally halts and copper sagsBy Tomo UetakeTOKYO, June 26 (Reuters) - The dollar slipped against the yen in Asian trade on Tuesday, hovering near a two-week low, as worrie...Read More
* MSCI Asia-Pacific index down 0.27 pct, Nikkei sheds 0.1 pct* Spreadbetters expect European stocks to open slightly higher* Tech shares retreat broadly on latest US-China row* Dollar sags as US yields decline amid risk aversion* Libyan export woes lift oil after previous day's big fallBy Shinichi SaoshiroTOKYO, June 26 (Reuters) - World stocks extended a sell-off on Tuesday as escalating trade tu...Read More