The latest metal markets news and price moves to start the North American day on Wednesday March 7.Base metals prices on the London Metal Exchange were lower across the board during morning trading- with nickel diving 1.6%.Here's how prices looked at 12:07 London time:Read our live futures report here. "Most of the base metals remain on a back footing this morning and that seems to be a resul...Read More
SHANGHAI, Mar 7 (SMM) – The 0# common brand zinc traded at a discount of 50-30 yuan/mt against the SHFE 1804 contract on Wednesday March 7, compared with discounts of 40-20 yuan/mt a day earlier, SMM learned.The Shuangyan brand traded at a premium of 0-10 yuan/mt, down from a premium of 20-40 yuan/mt.At noon, 1# zinc traded at 25,400-25,460 yuan/mt. For editorial queries, please contact...Read More
SHANGHAI, Mar 7 (SMM) – China is likely to eliminate its dependency on overseas refined copper and move to develop foreign copper ore supplies by optimising its industry, SMM believes.China will intensify efforts to improve capacity structure and reorganise steel, coal and power enterprises, said deputy director of the National Development and Reform Commission (NDRC) Nin...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our market professional survey.Readers can al...Read More
* Trump adviser resignation increases trade war threat* ECB may rethink policy as tariff threat looms* Euro zone yields lower 2-5 bps across the board* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Adds graphic, updates prices)By Abhinav RamnarayanLONDON, March 7 (Reuters) - Euro zone government bond yields dropped on Wednesday on speculation that planned U.S. import tariffs including...Read More
SHANGHAI, Mar 7 (SMM) – This is a roundup of global macro-economic news last night and what is expected today.Last nightMarkets were rattled following the resignation of White House economic advisor Gary Cohn. The US dollar declined and hovered at 89.4.Base metals saw mixed trading. SHFE tin edged down while nickel rose over 1%. LME nickel jumped close to 2%, copper rose almost 1% while...Read More
Good morning from Metal Bulletin's office in Singapore as we bring you the latest news and pricing stories on Wednesday March 7.Aluminium prices on the Shanghai Futures Exchange weakened during Asian morning trading on Wednesday, after market participants were left with little to cheer about due to the uncertainty surrounding China's plans for further aluminium capacity cuts this year.Check Metal...Read More
(Kitco News) - Mining investors might want to pay more attention to Canadian projects as the country is expected to have strong production growth in a world that is seeing a decline in the quality of gold deposits, according to one search firm. Canada's largest gold mine, Malartic Mine, Quebec, Canada In a presentation during the 2018 Prospectors & Developers Association of Canada (PDAC) c...Read More
SHANGHAI, Mar 7 (SMM) – This is a roundup of global macro-economic news last night and what is expected today.Last nightMarkets were rattled following the resignation of White House economic advisor Gary Cohn. The US dollar declined and hovered at 89.4.Base metals saw mixed trading. SHFE tin edged down while nickel rose over 1%. LME nickel jumped close to 2%, copper rose almost 1% while...Read More
SHANGHAI, Mar 7 (SMM) – This is a roundup of global macro-economic news last night and what is expected today.Last nightMarkets were rattled following the resignation of White House economic advisor Gary Cohn. The US dollar declined and hovered at 89.4.Base metals saw mixed trading. SHFE tin edged down while nickel rose over 1%. LME nickel jumped close to 2%, copper rose almost 1% while...Read More
Published on: Mar 8, 2018 | by finfeedAlloy Resources (ASX:AYR) has reached an agreement with Jindalee Resources (ASX:JRL) to acquire an Option to purchase an exploration licence application within the highly prospective Millrose Greenstone Belt.Exploration licence application 53/1962 ("ELA") is adjacent to AYR's Horse Well Gold Project, which is situated in the north eastern goldfields of Western...Read More
SHANGHAI, Mar 7 (SMM) – China’s banking regulator plans to cut the amount of funds that banks are required to set aside to cover loan losses in a bid to provide more liquidity to the market.In a circular released by China Banking Regulatory Commission (CBRC) last week, commercial banks are required to reduce the provision coverage ratio to 120-150% and loan provision ratio to 1.5-2.5%...Read More
NEW YORK (Reuters) - President Donald Trump’s plan to slap tariffs on imported steel and aluminum would barely budge the price of a Boeing Co jetliner or fighter plane, belying fears of a big blow to U.S. industry, aerospace analysts said.What could have an impact is retaliation by countries such as China, one of Boeing’s biggest customers, if the United States goes through with threat...Read More
(Kitco News) - One mining analyst said that he thinks the threat of a global trade war is overblown and investors should instead look at all the good President Donald Trump has done for the mining sector, particularly for companies focused in the U.S.Mickey Fulp, creator of the Mercenary Geologist newsletter, said in an interview with Kitco News on the sidelines of the 2018 Prospectors & Devel...Read More
SHANGHAI, Mar 7 (SMM) – China’s banking regulator plans to cut the amount of funds that banks are required to set aside to cover loan losses in a bid to provide more liquidity to the market.In a circular released by China Banking Regulatory Commission (CBRC) last week, commercial banks are required to reduce the provision coverage ratio to 120-150% and loan provision ratio to 1.5-2.5%...Read More
SHANGHAI, Mar 7 (SMM) – China’s banking regulator plans to cut the amount of funds that banks are required to set aside to cover loan losses in a bid to provide more liquidity to the market.In a circular released by China Banking Regulatory Commission (CBRC) last week, commercial banks are required to reduce the provision coverage ratio to 120-150% and loan provision ratio to 1.5-2.5%...Read More
Published on: Mar 2, 2018 | by finfeedEHR Resources (ASX:EHX) has initiated the next phase of its exploration programme at the La Victoria Gold Project in cooperation with Eloro Resources Limited (TSX-V:ELO).EHX has indicated that exploratory drilling will be a key focus moving forward at the site, which is located in the north-central mineral belt of Peru.The company formally notified Eloro that...Read More
LONDON/FRANKFURT (Reuters) - Goldman Sachs (GS.N) has put more than a dozen UK-based banking, sales and trading staff on notice to move to Frankfurt within weeks, two sources with knowledge of the matter said, as it braces for divorce between Britain and the European Union.After months of patience and private lobbying, the U.S. investment bank has decided it can no longer wait for clarity from law...Read More
SHANGHAI, Mar 7 (SMM) –Copper: The support at the 40-day moving average, or 52,000 yuan/mt, remained for SHFE copper, while destocking in China helped the bullish sentiment somewhat. We expect copper prices to go up further with SHFE 1805 at 52,500-53,000 yuan/mt today and LME copper at $6,960-7,020/mt. Spot discounts are expected to be smaller as sellers continued to hold on to their cargoe...Read More
SHANGHAI, Mar 7 (SMM) –Copper: The support at the 40-day moving average, or 52,000 yuan/mt, remained for SHFE copper, while destocking in China helped the bullish sentiment somewhat. We expect copper prices to go up further with SHFE 1805 at 52,500-53,000 yuan/mt today and LME copper at $6,960-7,020/mt. Spot discounts are expected to be smaller as sellers continued to hold on to their cargoe...Read More