Mantashe made a point of the senior management hunt this week in a statement."Aware that most senior management is in an acting capacity, we have prioritised to fill vacant positions in the department," he said."There is a great potential in the department, also the ability to overcome past and present challenges."We will, therefore, delve into all allegations of corruption and manipulation of pro...Read More

(Kitco News) - Despite avoiding an imminent trade war with the U.S. over steel and aluminum tariffs, Canada should not be breathing easier, this according to Shark Tank star Kevin O’Leary. “I don’t think the long-term outcome of the negotiations is going to be better for Canada,” O’Leary told Kitco News. “For example, on steel, what will probably end up in the...Read More

RAPAPORT... Sotheby's will offer the historic Farnese Blue diamond atits Geneva sale in May, the first time it has been on the market. The pear-shaped, 6.16-carat, fancy dark grey-blue stone - originallygiven to Queen Elisabeth Farnese of Spain as a wedding gift following hermarriage to King Philip V in 1714 - has spent 300 years in the private collection of Europe'sroyal families. The diamond wil...Read More

We're going to look at a bunch of economic data today, but before we do, there's something we need to clear up. Most economic data is released in a monthly cadence, but if you focus on monthly figures, you're going to misinterpret a lot of information.Here's a classic example, using industrial production. This chart shows month-over-month changes in industrial production - the metric that most eco...Read More

FTSE 100 closes 1.23% lowerReckitt Benckiser wanted after it walks away from Pfizer consumer healthcare purchaseBoE keeps key interest rate unchanged but two committee members vote for a quarter-point rise FTSE 100 tanked 1.23% on the day to close at 6,952, below the 7,000 level.The mid-cap FTSE 250 index lost even more, plunging 1.39%, or 274 points at 19,393 as the markets digested a streng...Read More

SHANGHAI, Mar 22 (SMM) – As LME inventories of nickel is likely to grow, we see limited upward room for prices of LME nickel even as the US dollar weakens. Investors are more likely to take long positions on copper or zinc that saw larger drops.LME nickel inventory rose 0.9% to 325,800 mt, and cancelled warrants dipped 7.1% on Wednesday March 21. This indicated that the d...Read More

NEW YORK (Reuters) - The yen rose on Thursday, reaching a three-week peak against the dollar, as traders sought safety in the Japanese currency amid global trade tensions and weakness on Wall Street.U.S. President Donald Trump signed a presidential memorandum on Thursday that could impose tariffs on up to $60 billion of imports from China, although his action was far removed from threats that coul...Read More

SHANGHAI, Mar 22 (SMM) – SHFE zinc is likely to stay rangebound at lows with strong upward resistance in the short term, given high inventories and a slow recovery of consumption, SMM expects.The 1805 contract fell below the 24,500 yuan/mt level at the end of the day on Wednesday March 21. Overall momentum was weak as inventories were high. Despite production cuts from ma...Read More

A combination of factors, which have had a profound impact on the U.S. equities markets, have resulted in U.S. equities trading dramatically lower and moving into corrective territory. These factors have also created bullish tailwinds for gold prices.As of 4:00 PM Eastern standard time, gold futures are trading up $7.50 on the day at $1,330 per ounce. Higher gold prices have moved in tandem with a...Read More

SHANGHAI, Mar 22 (SMM)? 1/4 ?Spot copper in the Shanghai market was offered at a discount of 190-140 yuan/mt on the morning of Thursday March 22, SMM learned.This compared with discounts of 210-160 yuan/mt on the morning of Wednesday March 21. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service...Read More

The auto industry is becoming increasingly dependent on the DRC-dominated battery metal as it ramps up supply of electric vehicles, with Glencore expecting demand for the metal to increase 67% over the next three years.IndustriALL said it went on a fact-finding mission to Glencore's Kamoto Copper Company and Mutanda mines in February after urgent requests from its affiliate TUMEC, which represents...Read More

NEW YORK (Reuters) - Oil prices fell on Thursday as investors took profits after this week’s rally and as U.S. stock markets fell, but losses were limited by the continuing efforts of OPEC and its allies to curb supplies.Brent crude LCOc1 futures fell 56 cents to settle at $68.91 a barrel, a 0.8 percent loss, having retreated from a session peak of $69.70, close to its highest level since ea...Read More

SHANGHAI, Mar 22 (SMM) – SMM expects prices of nickel ore to continue its decline in the short term as supply grows.Nickel ore exports from the Philippines are rising as the weather improved from mid-March, an SMM survey showed.High-grade nickel ore with 1.8% Ni traded at $53.5/wmt cif this week, down some $2/wmt from the previous week.  For editorial queries, please contact D...Read More

(Kitco News) - Gold futures prices were ending the Thursday U.S. day session modestly up but well down from daily highs. Meantime, the cash gold market was weaker today following its big afternoon gains on Wednesday. A firming U.S. dollar index today somewhat limited buying interest in the precious metals markets. April Comex gold futures were last up $3.90 an ounce at $1,325.40. May Comex silver...Read More

SHANGHAI, Mar 22 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar dropped below 90 at one point and then hovered around 89.7 as the Federal Reserve anticipated hiking interest rates three times in 2018, below market expectations of four hikes. Nonferrous metals rose due to the weak US dollar and higher oil prices....Read More

Ivanhoe said it was continuing strategic discussions with "several significant mining companies and investors" about its three African development projects, two of which are in the DRC, and said several investors that expressed interest had "no material limit on the provision of capital".The company has appointed five mine financing institutions to arrange debt financing to develop its 64%-owned P...Read More

Xeros Technology Group PLC (LON:XSG) saw its shares leap 11.5% in mid-afternoon trading to 164p after expanding its US coverage by acquiring Gloves Inc.The cleaning product developer said Gloves, a firefighter equipment maintenance company, was acquired for a cash consideration of US$800,000 with a further US$300,000 contingent on growth targets.Xeros said the acquisition, combined with its previo...Read More

SHANGHAI, Mar 22 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar dropped below 90 at one point and then hovered around 89.7 as the Federal Reserve anticipated hiking interest rates three times in 2018, below market expectations of four hikes. Nonferrous metals rose due to the weak US dollar and higher oil prices....Read More

SHANGHAI, Mar 22 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar dropped below 90 at one point and then hovered around 89.7 as the Federal Reserve anticipated hiking interest rates three times in 2018, below market expectations of four hikes. Nonferrous metals rose due to the weak US dollar and higher oil prices....Read More

SHANGHAI, Mar 22 (SMM) –Copper: LME copper rebounded from the $6,700/mt level overnight as long positions entered the market. Copper prices are expected to rebound if China's economic data remain strong and the global bearish sentiment eases. We see LME copper trading at $6,800-6,860/mt today, with the SHFE 1805 contract trading at 51,000-51,600 yuan/mt. Spot discounts are seen smaller a...Read More