The latest news and price moves to start the Asian day on Tuesday July 10.Base metals prices on the London Metal Exchange made a notable recovery from recent lulls at the close of trading on Monday July 9, with only zinc and lead finishing lower. Read more in our live futures report.Here are how prices looked at the close of trading:The Federation of Copper Workers in Chile has rejected copper pro...Read More
The latest metal markets news and price moves to start the North American day on Monday July 9. Base metals on the London Metal Exchange were mostly higher during morning trading on Monday July 9, rebounding against positive US data last week and a broad recovery in global equity markets.Climbing 1.6%, copper's three-month price made the largest recovery after closing at its lowest point...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Monday July 9.Base metals, with the exception of lead, were all up on the Shanghai Futures Exchange during Asian morning trading on Monday, with copper leading a corrective rally after weeks of selling.Check Metal Bulletin's live futures report here.The depreciation of the yuan against the dol...Read More
SHANGHAI, Jul 9 (SMM) – Jiangsu Baozhong & Baoda Pharmaceutical's installation of environmentally-friendly facilities at its lithium hydroxide project was approved and accepted by the Nantong city municipal government on Monday July 9, SMM learned from the website of the city's administration. The project is located in Rugao city of Jiangsu...Read More
SHANGHAI, Jul 9 (SMM) – The price gap between battery-grade lithium hydroxide and carbonate is likely to widen further in the second half of the year as the former has seen higher demand, SMM believes.While lithium carbonate prices lost around 50,000 yuan/mt since October last year amid oversupply, prices of battery-grade 56.5% lithium hydroxide remained firm at 135,000-150,000 yuan/mt, SMM...Read More
Katanga Mining has named Samuel Rasmussen its chief operating officer - he replaces Deon Garbers, who resigned last month.Rasmussen has significant copper processing and mining experience in large-scale open pit and underground operations, having served in various management roles for companies including Freeport-McMoRan in the Democratic...Read More
Joe Raia has joined Chicago-based futures brokerage and clearing firm RJ O'Brien & Associates (RJO), as managing director of global commodity futures. Raia is responsible for building out RJO's energy and metals clearing and execution business globally in futures, options and cleared over-the-counter (OTC) products. This includes expanding the firm's breadth and expertise in a wide...Read More
Base metals on the London Metal Exchange made a notable recovery from recent lulls at the close of trading on Monday July 9, led by a 1.9% price surge in nickel and aluminium prices. Edging back over $14,000 per tonne throughout the day, nickel prices reached a daily high of $14,240 per tonne after closing at their lowest point since May 10 on Friday.The metal experienced a sharp sell-off last wee...Read More
Comex copper prices bounced back from a one-year low in US morning trading on Monday July 9, with a softer dollar and equity recovery supporting the base metals complex. Copper for September settlement on the Comex division of the New York Mercantile Exchange recovered 2.15 cents or 0.8% to $2.8455 per lb. Last week, the red metal traded at the lowest point since July 2017. "The outlook across the...Read More
Physical iron ore prices for mainstream 62% Fe Australian fines saw modest gains on Monday July 9 following paper market increases.Metal Bulletin 62% Fe Iron Ore Index: $63.92 per tonne cfr Qingdao, up $0.08 per tonneMetal Bulletin 62% Fe Pilbara Blend fines Index: $62.61 per tonne cfr Qingdao, up $0.39 per tonneMetal Bulletin 58% Fe Premium Index: $51.43 per tonne cfr Qingdao, down $0.09 per tonn...Read More
By David Hodari LONDON--Copper prices climbed Monday, recouping some of their losses as investors second-guessed some of the industrial metal's heavy geopolitics-driven losses of recent weeks. The price of copper was up 0.96% at $6,369 a metric ton in midmorning trading. Gold prices also climbed, rising 0.78% to $1,264.76 a troy ounce, with the U.S. dollar relinquishing some of its recent gains...Read More
After a gravity-defying run, nickel has now also succumbed to weakness in the industrial metals complex as global trade fears mount, declining to $14,125 per tonne on Monday.The metal, mainly used in stainless steel manufacture, is down 10% or more than $1,600 a tonne from more than three-year highs hit on the LME a month ago.Nickel is still up by 62% compared to its June 2017 lows, mostly on the...Read More
Metals and minerals prices have come a long way since hitting multi-year lows late-2015, early 2016.Copper is up by nearly half, recent weakness notwithstanding. Zinc's nearly doubled since then and nickel bulls (suddenly aplenty) have achieved the same for devil's copper, the only major metal in positive territory for 2018.Gold has gained 20% from lows hit mid-December 2015; technically a bull...Read More
(Bloomberg) - Escalating trade conflict between the U.S. and China has sent industrial metals to oversold territory. Invesco Ltd.'s Jason Bloom is counting on President Donald Trump's playbook to reverse those losses.Bloom isn't alone. Citigroup Inc. metal analyst Max Layton is optimistic that the standoff could end within months. Economists at ING Bank are hopeful Trump's rhetoric will calm down...Read More
Tiger Resources will not be selling its Democratic Republic of the Congo mining and exploration assets to Sinomine HK for $260M.Tiger Resources said on Friday that terms acceptable to the company were not acheived and it issued a notice of termination to Sinomine HK.The assets comprised of the Kipoi Project, Lupoto Project and La Patience permit. Announcing the sale in January, Tiger said it was f...Read More
Written with material from Denham Capital news releaseDenham Capital, a resources and energy-focused global private equity firm, closed its first stand-alone mining fund, the Denham Mining Fund, at $558 million to expand its portfolio in Australia, Canada, South America and Africa.Denham Capital says it will continue its strategy of partnering with management teams with proven track records to ac...Read More
SHANGHAI, Jul 10 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index fell below 94 on weaker-than-expected salary data, but closed slightly up from the previous trading day, given a declining euro on political turmoil in London overnight. Base metals mostly rose but with limited momentum with pressure from the China-...Read More
SHANGHAI, Jul 9 (SMM) – Ferrous and nonferrous metals rallied on Monday July 9 as China’s foreign exchange reserves rebounded in June, and as the US-China trade conflict slightly receded from the spotlight.SHFE nonferrous metals closed with a mixed performance, with lead and nickel lower. Copper performed strongly and jumped 1.46%. Zinc rose over 1%, and tin and aluminium inc...Read More
* Trade war fears recede* STOXX rises 0.6 pct, FTSE up 0.9 pct* Britain's Foreign and Brexit ministers resign (Updates prices, adds details)By Julien Ponthus and Helen ReidLONDON, July 9 (Reuters) - A wave of optimism about the resilience of the global economy helped European shares make gains despite the escalation of the U.S.-China trade dispute and renewed divisions in the British government ar...Read More