Iron ore prices slipped below $67 per tonne cfr China on Tuesday March 20 following further losses in China's steel and futures markets. Metal Bulletin's 62% Fe Iron Ore Index Today: $66.94 per tonne cfr Qingdao Daily change: down by $0.51 per tonne Month-to-date average: $72.69 per tonne Metal Bulletin's 58% Fe Premium Index Today: $54.58 per tonne cfr Qingdao Daily change: unchanged Month-to-dat...Read More
LiDCO Group plc (LON:LID) saw its shares drop 7.5% in mid-afternoon trading to 6.1p after announcing the end of its distribution contract with Argon Medical Devices.The blood-flow monitoring company said the contract, which contributed ?1.4mln to LiDCO's overall sales in the last financial year, would end on 30 September 2018.Meanwhile, shares in GetBusy Plc (LON:GETB) fell 6.8% to 34p as the sof...Read More
Worries over the health of the UK retail sector will make full-year results from B&Q owner Kingfisher PLC (LON:KGF) a key focus on Wednesday.Ina preview, Graham Spooner, research analyst at The Share Centre noted: "The last update from Kingfisher, a third quarter statement in November, was notable for signs of continued weakness in the French businesses although the company said it remained on...Read More
"This suggests that Draghi is maintaining more control on his expressions, whether he is doing so consciously or not," Continue...Read More
Mick Billing, executive chairman of Thor Mining PLC (LON:THR) caught up with Proactive Investors too add some more detail around their recent decision to focus solely on their tungsten and copper interests in Australia and the US.Billing says the time has come to absolutely focus all efforts on Pilot Mountain, Molyhil and Kapunda. Meet Wolf Minerals, Thor Mining PLC, Rainbow Rare Earths Limi...Read More
Gold drops $7 on a stronger US Dollar. Key event ahead: FOMC meeting. Gold dropped on Tuesday erasing yesterday’s gains. A stronger US Dollar ahead of the FOMC meeting pushed the yellow metal to the downside. On Monday, gold approached $1,320/oz and lost momentum. Today it moved with a bearish tone all day and accelerated the slide on American hours. It bottomed at $1,307...Read More
Steve Hughes, VP of exploration at Asiamet Resources Limited (LON:ARS), tells Proactive ongoing resource delineation drilling at the BKZ prospect in Indonesia is continuing to intersect high-grade polymetallic and copper-silver mineralisation.Hughes adds they're in talks with a couple of drill contractors and are looking to have a second rig at Beutong within around 30 days to expand the programme...Read More
Amur Minerals Corporation's (LON:AMC) chief executive Robin Young tells Proactive he is 'very pleased' with the 50% increase to 1.58mln tonnes at the Russian nickel deposit."For every metre drilled, we have found US$213,000 of metal value while each tonne of nickel has cost just US$35 to discover."The resource is now more than enough for detailed engineering plans and is also of a size t...Read More
Mid-tier Canadian miner B2Gold (TSX, NYSE: BTO) said Tuesday its Fekola mine won't be affected by a new mining code the country's government is planning to draft as the asset is governed by a finalized and enforceable mining convention valid for the lifespan of the mine.The Vancouver-based company, which poured first gold at Fekola late last year, said media reports claiming Mali will move to imp...Read More
• USD regains traction and prompts some fresh selling. • Improving risk appetite adds to the downward pressure. • Fed rate hike expectations did little to lend any support. Gold continued losing ground through the mid-European session and dropped back closer to over 2-week lows, touched in the previous session. The latest l...Read More
• A goodish pickup in the USD demand prompts some fresh selling. • Rising US bond yields/fading safe-haven demand add to the selling pressure. • Wednesday’s FOMC decision should help determine the near-term trajectory. Gold extended its steady decline through the mid-European session and dropped to fresh session lows in th...Read More
CEO aims to catapult company to fifth place in gold outputSpy scandal, money-laundering charges hurt valuation: CEOPolyus CFO Pavel Grachev discusses gold and the possible impact from geopolitical risks.Polyus PJSC is targeting more than just gold to help challenge the “Russian discount” it says is tainting its share price.The Russian precious metals miner plans to sell shares on the...Read More
• Easing USD bearish pressure prompts some fresh selling. • Fading safe-haven demand adds to the downward pressure. • FOMC decision/statement eyed for a fresh directional impetus. Gold came under some renewed selling pressure on Tuesday and eroded part of overnight modest recovery gains from over 2-week lows. On Monday, the prec...Read More
Comex copper prices tumbled to a mid-December low after investors moved to the sidelines ahead of a critical US central bank meeting. Copper for May settlement on the Comex division of the New York Mercantile Exchange tumbled 3.30 cents or 1.1% to $3.0490 per lb. Earlier, the contract touched $3.0290, the lowest since December 13. The red metal is now on...Read More
Gold's recovery from 2.5-week low halted in Asia. Caution ahead of Fed could keep metal on the back foot. Gold is trading in a sideways manner around $1,316 in Asia, having recovered from the 3.5-week low of $1,308 yesterday. Focus on Fed Speculation is on the rise that Fed may revise higher its dot plot to four 2018 rate hikes. However, it would only push the Fed one step closer to the ulti...Read More
The main union at Antofagasta's Los Pelambres copper mine has agreed to extend government-led mediation by five days, postponing a potential strike there. Mediation started on March 9 after the union rejected Antofagasta's offer of a new labor contract and was...Read More
The latest news and price moves to start the Asian day on Wednesday March 21.Base metals prices on the London Metal Exchange closed lower across the board on Tuesday March 20, with copper falling to a new 2018 low. Read more in our live futures report.Here are how LME prices looked at Tuesday's close:Comex copper prices tumbled to the lowest level since mid-December after investors moved to t...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday March 20*Copper -$95.75 (-607.47 yuan) Aluminium -$418.93 (-2,657.85 yuan) Zinc -$98.99 (-628.01 yuan) Nickel -$445.68 (-2,827.56 yuan) *Metal Bulletin calculates the physical...Read More
The latest metal markets news and price moves to start the North American day on Tuesday March 20. Base metals prices on the London Metal Exchange were mostly lower again during morning trading on Tuesday March 20, with nickel the sole metal in positive territory.The three-month nickel price recovered $70 this morning to recoup some of Monday's...Read More
Gold futures climbed Monday to recoup losses from the previous session, as a leading dollar index weakened and benchmark U.S. stock indexes dropped-boosting investor interest in the precious metal. "Gold is finally getting some safe-haven demand," said Jeff Wright, chief investment officer at Wolfpack Capital. He expects the gains to continue as "equity markets languish." "The headwind keeping gol...Read More