The fourth set of assays from drilling at the zone contained the highest grades to date and among the highest grades from the entire property, president and CEO Vishal Gupta said.Read More
Iranian exporters of semi-finished steel products came back to the market after the Persian new year holiday late last month with price reductions that followed the trend in the wider global markets.Metal Bulletin's weekly price assessment for Iranian billet exports decreased to $500-515 per tonne fob on Wednesday April 4, from the previous range of $515-530 per tonne fob.Local producers Khouzesta...Read More
By Julia PayneLONDON, April 4 (Reuters) - Commodities trader Trafigura has signed an offtake agreement for cobalt hydroxide running to December 2020 with Shalina Resources and its subsidiary Chemaf, based in the Democratic Republic of Congo (DRC), Chemaf said in a statement on Wednesday.Interest in cobalt reflects a shift in the automotive industry to electric cars (EV), powered by lithium-ion bat...Read More
(Repeats earlier story for wider readership with no change to text. The opinions expressed here are those of the author, a columnist for Reuters.)* GRAPHIC: China's BRI initiative: http://tmsnrt.rs/2njAVmwBy Clyde RussellHONG KONG, April 4 (Reuters) - China's Belt and Road Initiative (BRI) is one of those rare things that virtually everybody seems to have heard about, but equally, very few people...Read More
BEIJING (Reuters) - Information technology products, from cellphones to personal computers, have largely escaped the latest salvo of U.S.-China trade measures despite accounting for a significant portion of bilateral trade.The office of the U.S. Trade Representative (USTR) on Tuesday raised the stakes in a growing trade showdown with China, targeting 25 percent tariffs on some 1,300 industrial tec...Read More
SHANGHAI, Apr 4 (SMM) – Transactions cooled in the spot market for copper in Shanghai on Wednesday April 4 as premiums were offered at 30-70 yuan/mt against the SHFE 1804 contract. This compared with a premium of 30-100 yuan/mt on Tuesday April 3.Cargo holders made lower offers to cash in on the last trading day ahead of the Qingming Festival holiday, while traders bought on lower...Read More
The inferred resource contains 4.42 million tonnes at 5.72g/t gold-equivalent for 812,000 ounces AuEq, or 700,500oz of gold and 11.36Moz of silver.About 90% of the resource is contained in underground deposits grading 7.05g/t AuEq, with the remaining openpit resource comprising 1.2Mt at 2.13g/t for 82,000oz AuEq.Calibre Mining Corp (CN:CXB), the 49%-owner of the project and the current operator, h...Read More
Canada's largest diversified miner Teck Resources (TSX:TECK.A | TECK.B)(NYSE:TCK) said Wednesday it had increase to 90% its stake in Compa???-a Minera Teck Quebrada Blanca, which main asset is the namesake copper mine in Northern Chile.The Vancouver-based miner said the deal, worth $162.5 million, simplifies the ownership of Quebrada Blanca, giving Teck additional flexibility with respect to fin...Read More
Metal Bulletin looks at seven key things discussed in Xi'an last month at China Iron & Steel Association's 16th International Steel Market and Trade Conference that will have a major impact on the Asian and Chinese steel markets in the coming years.China plans to cut another 30 million tonnes of steel capacity in 2018China is planning to cut another 30 million tonnes of steel capacity in 2018 as p...Read More
(The opinions expressed here are those of the author, a columnist for Reuters.)* GRAPHIC: China's BRI initiative: http://tmsnrt.rs/2njAVmwBy Clyde RussellHONG KONG, April 4 (Reuters) - China's Belt and Road Initiative (BRI) is one of those rare things that virtually everybody seems to have heard about, but equally, very few people can actually claim to have a detailed understanding of what it mean...Read More
(Kitco News) - Gold prices are firmly higher in early U.S. trading Wednesday, as anxiety and riskaversion in the world marketplace are keen today, on fears of a majorU.S.-China trade war. June Comex gold futures were last up $10.20 an ounce at$1,347.60. May Comex silver was last up $0.058 at $16.45 an ounce.Fearsof a global trade war have ratcheted up a notch after China today announced abig list...Read More
RAPAPORT... Sales of jewelry and other luxury goods in Hong Kong grew inthe first two months of the year amid stronger employment rates and increasedtourism. Sales of jewelry, watches, clocks and valuable gifts rose21% to $2.05 billion (HKD 16.1 billion) in January and February, Hong Kong'sCensus and Statistics Department reported Tuesday. It was one of thehighest-grossing retail catego...Read More
Mining companies saw its shares plummet along with metal prices on Wednesday as trade tensions between the United States and China escalated, with Beijing hitting back at Trump's plans to impose $50 billion in tariffs to goods from the Asian superpower.China retaliated with a list of duties on key US imports, including soybeans, planes, cars, whiskey and chemicals, less than 11 hours after Washing...Read More
The company, which has started consolidating its position across the Pyrenees region on the border of France and Spain, said it had concluded a placement with the issue of 26.1 million shares at $0.23, a 13% discount to the 20-day average of $0.265, to leading European institutions including one of the world's largest mining funds.Read More
WASHINGTON (Reuters) - The U.S. Federal Reserve does not need to raise its benchmark interest rate much further given how close it is to the neutral rate, St. Louis Fed President James Bullard said on Wednesday.“Current policy setting is closer to neutral than in previous years,” Bullard said in prepared remarks before a bankers association in Little Rock, Arkansas.“It is not nec...Read More
China's rebar prices were unchanged on Wednesday April 4 ahead of the Qing Ming Festival, or tomb-sweeping day, on April 5-6. Meanwhile, fluctuating futures provided participants with little direction as to where the market might be heading.Domestic Eastern China (Shanghai): 3,650-3,700 yuan ($580-588) per tonne, unchanged Northern China (Beijing): 3,730-3,750 yuan per tonne, unchangedSome end-use...Read More
Investing.com - Gold prices rose to the days highs on Wednesday as safe haven demand for bullion was boosted by escalating trade tensions after China announced countermeasures against the latest U.S. tariffs.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange rose $6.90 or 0.51% to $1,344.10 a troy ounce by 04:02 AM ET (08:02 AM GMT).Worries that protectionist...Read More
RAPAPORT... Herb Bridge, co-chairman of jeweler Ben Bridge and much ofthe force behind its global expansion, died at age 93 on Monday. Bridge grew up in the family-run business, which has been inoperation since 1912, and worked with his father in the store since childhood. Shortly after the US entered World War II, Bridge left thejewelry business and joined the navy, rising to the rank of rear ad...Read More
Healthy demand for molybdenum rich stainless steel, especially from the oil and gas industry, plus sluggish supply growth are expected to keep the price of this minor metal riding high.Molybdenum prices at nearly $13 a lb are at their highest since 2014, having more than doubled since Dec. 2015.Often a byproduct of copper smelting, molybdenum's powerful anti-corrosive properties are vital for equi...Read More