Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week. Base metalsGeoffrey Gao will become chief executive officer of Australian-Chinese miner MMG from this August.Minera Escondida has ended early talks with its unionized workers aimed at agreeing a new labor deal, the Chilean copper producer said.Anglo American recorded a 13% year-on-year decline...Read More
(Reuters) - Colgate-Palmolive Co’s (CL.N) quarterly sales just met analysts’ estimates on Friday as demand in emerging markets including Latin America was below its expectations, sending its shares down 3 percent in premarket trading.Growth in organic sales slowed in the first quarter from the previous quarter, even as the company spent more on advertising and cut prices to spur demand...Read More
History will likely remember this meeting as nothing more than a Potemkin summit chock-full with pictures designed to appeal to your heart, when in fact, nothing substantial was achieved.Continue...Read More
LONDON, April 27 (Reuters) - Greece’s government bond yields hit a 2-1/2 month low on Friday after as euro zone finance ministers said they are set to decide in June on the future steps to help Greece successfully end its current bailout programme.“The Eurogroup will decide in June all the elements that can help facilitate the Greek exit from the bailout programme,” Mario Centeno...Read More
SOFIA (Reuters) - The European Central Bank urged Greece to conclude reforms agreed with its euro zone creditors in time to successfully exit its bailout programme in August.Concluding the last batch of reforms on time was of the “utmost priority for Greece,” ECB board member Benoit Coeure told a news conference in Sofia, the Bulgarian capital.Reporting by Francesco Guarascio; editing...Read More
The US government's easing of sanctions on Rusal benefits the Russian aluminium producer's employees, US consumers of the metal - and any potential buyers of Oleg Deripaska's shareholding, writes Lord Copper."The Moving Finger writes; and, having writ,Moves on: nor all thy Piety nor WitShall lure it back to cancel half a Line,Nor all thy Tears wash out a Word of it."Well, that's what Omar Kayyam s...Read More
Smart Solutions uses data and analytics to optimize our customers' operations, but for those operating a room and pillar mine that relies on batch haulage (such as shuttle cars and battery haulers) things can get tricky. Until recently, the only information available for the entire system was coming from one machine: the continuous miner. While those figures are useful, they don't provide a comple...Read More
Shahnawaz Islam, director of metals research and product development at CME Group, is leaving the exchange after nearly three years, a representative confirmed on Friday April 27.Shan, who was promoted from manager to director in March, will stay in London but will return to a...Read More
The US government's easing of sanctions on Rusal benefits the Russian aluminium producer's employees, US consumers of the metal - and any potential buyers of Oleg Deripaska's shareholding, writes Lord Copper."The Moving Finger writes; and, having writ,Moves on: nor all thy Piety nor WitShall lure it back to cancel half a Line,Nor all thy Tears wash out a Word of it."Well, that's what Omar Kayyam s...Read More
Metal Bulletin reported in May 2017 that movements in the spread between 37% fob and 44% cif manganese ore indices might provide clues about direction in subsequent weeks.At the time, Metal Bulletin had observed that a narrowing of the spread between the prices for the two grades of manganese ore was often followed by a rise in prices and that a widening of the spread often preceded a pr...Read More
Base metals on the London Metal Exchange ended the week on a downward move at the close of trading on Friday April 27, with both copper and nickel prices falling more than 2%.Copper's three-month price spent most of the day consolidating in positive territory close to the $7,000 per tonne mark. The red metal dipped during the afternoon, with prices falling more than 2% to below $6,800 per ton...Read More
Comex copper prices fell to a multi-week low to close the week on April 27 morning in the US, with a rising dollar and geopolitical uncertainty weighing on the red metal.Copper for May settlement on the Comex division of the New York Mercantile Exchange collapsed 7.40 cents or 2.4% to $3.0400 per lb. Earlier, the contract weakened to $3.0305, the lowest point since April 6."Next week is going to b...Read More
Most iron ore market participants stayed away on Friday April 27 to cut their risk ahead of a 4-day trading break in China due to a public holiday over the first two days of next week.Metal Bulletin 62% Fe Iron Ore Index: $65.68 per tonne cfr Qingdao, down by $0.60 per tonneMetal Bulletin 58% Fe Premium Index: $55.48 per tonne cfr Qingdao, down by $0.42 per tonneMetal Bulletin 65% Fe Iron Ore Inde...Read More
Apr 27, 2018 (GLOBE NEWSWIRE via COMTEX) -- NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, B.C., April 27, 2018 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (PGM) ("Pure Gold" or the "Company") is pleased to announce that it has entered into an amended agreement with Sprott Capital Partners to act as lead underwriter...Read More
• A mildly softer tone around US bond yields prompts some short-covering. • Stronger USD/fading safe-haven demand likely to cap any strong recovery. Gold now seems to have entered a bearish consolidation phase and was seen oscillating in a narrow trading range near 5-week lows, below 100-day SMA. A strong wave of US Dollar buying interest, triggered b...Read More
• Higher than expected US GDP does little to prompt fresh selling. • Retracing US bond yields supportive of the short-covering bounce. Gold held on to its modest recovery gains post-US GDP print and is now looking to build on its move back above 100-day SMA support turned resistance near the $1320 region. The commodity stalled its recent downfall and...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business Reporter West Texas Intermediate crude for June delivery lost nine cents to $68.10 on the New York Merc, while Brent for June lost 10 cents to $74.64 (all figures in this para U.S.). Western Canadian Select traded at a discount of $18.85 to WT...Read More
Gold prices took back some ground after a two-session skid as financial markets assessed the merits of Korea peace efforts and the first reading of first-quarter GDP, which came in slightly better than expected. Gains for the yellow metal came even as a leading dollar measure also rose, with a pullback in the yield for the benchmark 10-year Treasury giving the commodity, which doesn't offer a yiel...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Will PurcellThe diamond and specialty minerals stocks box score for Friday was a ho-hum 74-79-141. The TSX Venture Exchange rose fractionally to 783 while polished diamond prices fell 0.1 per cent. Sheldon Inwentash's Gratomic Inc. (GRAT) gained 1.5 cents to 18 c...Read More
Investing.com - Gold prices held steady in early morning European trade on Friday as investors looked ahead to U.S. data on first quarter economic growth.Comex gold futures slipped $0.80, or 0.06%, at $1,317.100 a troy ounce by 3:33AM ET (7:34GMT). The preliminary reading of first-quarter U.S. GDP at 8:30AM ET (12:30GMT) is expected to show the economy expanded 2.0%, down from the fourth quarter g...Read More