Tetsushi KajimotoTOKYO (Reuters) - Japanese Finance Minister Taro Aso said on Friday that he would closely watch the United States’ move to impose tariffs on up to $60 billion of Chinese goods.Aso made the comment just hours after U.S. President Donald Trump signed a presidential memorandum that will target Chinese imports, though only after a 30-day consultation period.China will have space...Read More
On every rate hike the Fed has made in recent times, the gold price has traded higher two months laterContinue...Read More
Perhaps spurred on by the persistence of local treasure hunters (or perhaps not; no one's talking)Continue...Read More
There has been an increase in put buying over the past two weeksShares of Nike Inc (NYSE:NKE) are soaring, after the athletic apparel concern reported fiscal third-quarter adjusted earnings and revenue beats last night, and in response, received a fresh round of bullish brokerage notes. The most notable price-target hike came from Deutsche Bank to $76 from $75 -- an 18% premium to last night's clo...Read More
Soaring cobalt and lithium prices are not just spurring an exploration frenzy as more and more companies want a piece of the attractive batteries metals pie, but they are also pushing some companies to look for them where others have not.Australian Neometals (ASX:NMT), which is building a plant to recover raw materials including lithium, cobalt, nickel and copper from expired batteries in Canada,...Read More
The base price assessments for flat and long stainless steel products in Europe have gone unchanged this week in a slow market, sources told Metal Bulletin on Friday March 23.Metal Bulletin's weekly base price assessment on Friday for 2mm, grade-304 CR stainless steel sheet was stable over the week at ?,?1,050-1,130 ($1,295-1,393) per tonne delivered in Northern Europe on Friday."Market activity w...Read More
China released a list of U.S. products that could now be subject to import taxesU.S. stock futures have been bouncing between positive and negative territory, but those on the Dow Jones Industrial Average (DJI) were last seen trading below fair value. Investors are reacting to the latest trade headlines, following President Donald Trump's announcement yesterday to hit China with $60 billion in tar...Read More
SHANGHAI, Mar 23 (SMM) – Base metals fell across the board as trade tensions intensified. SHFE nickel led a slump of 3%, tin lost close to 2% and copper fell 1.7%. Lead and aluminium slid over 1%, while zinc dipped.The ferrous complex tumbled as rebar declined over 7%, iron ore fell 6% and hot-rolled coil lost 5%. Coke dropped close to 6%, while coking coal slid over 4%.Copper: SHFE copper s...Read More
Chile's state copper miner Codelco said on Thursday it had reached an agreement with the professionals' union at its Ministro Hales mine in northern Chile, following early talks on a new collective labor contract.The 36-month contract, which includes a signing bonus of 7.1 million pesos ($11,600), was approved by 75 per cent of the union, Codelco said in a statement.Ministro Hales had production o...Read More
It has made Gilles Dessureau vice president of exploration and Neil MacRae investor relations manager.Dessureau will lead the exploration team at Macmillan Pass, bringing his exploration and development experience in the Western Cordillera, including Yukon and British Columbia, to Fireweed.He has previously worked on the Wolverine polymetallic project, which started commerical production in 2010,...Read More
WASHINGTON (Reuters) - The United States and South Korea could announce a trade deal next week that would cover an exemption from U.S. steel and aluminum tariffs and other trade issues, President Donald Trump and his commerce secretary said on Friday.Trump said the agreement “would be a wonderful deal with a wonderful ally. We’re getting very close to it.”It was not immediately c...Read More
Investing.com – Gold prices spiked to a one-month high in morning trade in the U.S. on Friday as mounting fears over the prospect of a trade war and worries of heightened geopolitical tensions stoked demand for the precious metal.U.S. President Donald Trump announced tariffs on Thursday for about $50 billion worth of Chinese exports, citing China’s unfair seizure of U.S. intellectual p...Read More
Ferrous futures in China plunged during the morning trading session amid trade tensions between the country and the United States, with both announcing tariffs on each other's products.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,406 yuan per tonne, down 79 yuan per tonne May hot-rolled coil: 3,554 yuan per tonne, down 64 yuan per tonne Dalian Commodity Exchange...Read More
TOKYO, March 22 (Reuters) - Global miner BHP anticipates planned new U.S. steel import tariffs will have a limited impact on both the steel market and the firm, and doesn't foresee a chain reaction from other countries, a senior official said on Thursday."I think direct impact on steel is quite marginal because the United States is not such a big steel producer," Arnoud Balhuizen, chief commercial...Read More
SHANGHAI, Mar 23 (SMM) – Demand for nonferrous metals will surge as new energy vehicles are booming in China, said Lei Hongjun, chief engineer of the Yangtse Automobile Group. This is because new energy cars will utilise more metals, especially copper and aluminium, than traditional cars, he explained.Rising sales and output of electric cars is the biggest boost in demand for nonfe...Read More
A drier than-normal spring and summer in 2017 in British Columbia resulted in the company ceasing milling operations at the end of December.Read More
GENEVA (Reuters) - U.S. President Donald Trump’s steel and aluminum tariffs met a barrage of criticism at a World Trade Organization meeting on Friday, as the European Union, Japan, Australia and others joined a debate started by China and Russia.The EU representative dismissed U.S. assertions that the steps were needed to protect national security, saying Washington was just trying to suppo...Read More
* Investors spooked after Trump announces China tariffs* China urges U.S. to pull back from brink* Stocks on course for 1st quarterly loss since early 2016* Yen hits highest since November 2016; dollar down* U.S. Treasury yields set for biggest two-week fall since Sept* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Tommy WilkesLONDON, March 23 (Reuters) - The threat of a global trade...Read More
(Bloomberg) - One by one, the biggest names in African mining are getting squeezed. The tactics might be blunt, but the message is clear: the countries where they operate want a bigger share of the proceeds.The collapse in commodities through 2015 hobbled some of Africa's biggest resource economies, stunting growth and leaving budgets short. Since then a recovery in prices has sent the continent'...Read More
Domestic stainless steel prices in China remained in a downward trend over the past week amid a softening nickel market.Metal Bulletin's assessment of prices for benchmark 304 stainless CRC in the major market of Wuxi was 14,300-15,100 yuan ($2,259-2,386) per tonne including VAT for the week ended Thursday March 22, down 200 yuan per tonne from a week earlier....Read More