* Sterling tumbles a cent after Brexit deal hopes crumble* Asia rose overnight on U.S.-China trade hopes * Oil nudges higher for second day after 12-day losingstreak* Dollar gets going after soft start, Wall Street seenedging high * Bunds rally, Italian bond yields dip as budget remains infocus By Marc JonesLONDON, Nov 15 (Reuters) - Sterling tumbled and the rest ofEurope's share markets groaned o...Read More
"Find out how #disruption could change the #mininginvestment landscape in part 1 of our #miningdisrupted series: https://t.co/UwTZQtEkOM #FutureOfMining https://t.co/mDPlfbhKp8"Read full newsRead More
Gold is rolling sideways around $1,210, having rallied off the key rising trendline support yesterday. The metal could rise well above the immediate resistance of $1,212 if the US retail sales miss estimates by a big margin. Gold's sharp recovery from the recent low of $1,196 has neutralized the immediate bearish outlook. Notably, the strong rebound from the trendline connecting the Aug.16 a...Read More
Shares in Chilean miner Antofagasta Plc. (LON:ANTO) got a boost Thursday after the company announced the board of directors had approved a $1.3 billion expansion of its Los Pelambres copper mine in Chile.The awaited upgrade of Los Pelambres will add 60,000 tonnes of copper a year to the company's overall production once in full operation. Annual production is expected to increase from 40,000 tonn...Read More
Shares in Chilean miner Antofagasta Plc. (LON:ANTO) got a boost Thursday after the company announced the board of directors had approved a $1.3 billion expansion of its Los Pelambres copper mine in Chile.The awaited upgrade of Los Pelambres will add 60,000 tonnes of copper a year to the company's overall production once in full operation. Annual production is expected to increase from 40,000 tonn...Read More
Shares in Chilean miner Antofagasta Plc. (LON:ANTO) got a boost Thursday after the company announced the board of directors had approved a $1.3 billion expansion of its Los Pelambres copper mine in Chile.The awaited upgrade of Los Pelambres will add 60,000 tonnes of copper a year to the company's overall production once in full operation. Annual production is expected to increase from 40,000 tonn...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average tumbled on Wednesday, the fourth straight day of triple-digit losses for the blue-chip index. Apple Inc. (AAPL) and Goldman Sachs Group Inc. (GS) were the Dow's leading laggards.Macy's Inc. (M) fell 7% even after the retailer posted stronger-than-expected third-quarter earnings and raised...Read More
Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama slipped 1% month on month in October, according to the latest data from major Japanese trading house Marubeni Corp. The data, which was published on Wednesday November 14, also shows that total aluminium stocks at the three ports came to 317,300 tonnes at the end of last month. On a y...Read More
Nickel premiums in China, the United States and Europe remained unchanged over the week amid limited activity, an unstable import window in Shanghai and participants' absence from the market. An open but unstable import window kept premiums in Shanghai flat Subdued activity in the US nickel market maintains premiums European nickel market quiet with long-term in focusShanghai nickel premiums uncha...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Wednesday November 14, boosted by a steady rebound in global benchmark crude oil futures and a marginal retreat in the dollar index.Following a decline in the oil price this morning due to increasing concerns over a global slowdown economic growth, it bounced 1.47% over the course of the...Read More
South African miners will continue to need road transportation to get their material to port, according to Thembalani Gantsho, joint chief executive officer of Kudumane Manganese Resources.Road freight will be needed to meet the shortfall in capacity offered by the country's rail freight company, Transnet, Gantsho told delegates to Fastmarkets International Ferroalloys Conference in Lisbon, held N...Read More
Manganese alloy smelters are under pressure to scale back production due to the smaller margins achieved on suppressed alloy prices, Ferroglobe chief executive officer Pedro Larrea said during Fastmarkets' International Ferro-alloys Conference in Lisbon.Ferroglobe has cut some production at its manganese alloy furnaces, because the company has faced difficulties in generating profits due to the st...Read More
Manganese alloy smelters are under pressure to scale back production due to the smaller margins achieved on suppressed alloy prices, Ferroglobe chief executive officer Pedro Larrea said during Fastmarkets' International Ferro-alloys Conference in Lisbon.Ferroglobe has cut some production at its manganese alloy furnaces, because the company has faced difficulties in generating profits due to the st...Read More
The first deals for special high-grade zinc supply in 2019 in Europe point to a decline in annual zinc premiums compared with this year's levels, but Nyrstar's financial troubles are complicating negotiations and raising concerns that supply may turn out to be tighter than anticipated."Not much has been done yet, but [the premium] seems to be lower than last year by at least $10-15 per t...Read More
Manganese ore prices are overheated compared with production costs and manganese alloy prices, making them prone to a decline next year, panelists said at Fastmarkets' 34th International Ferro-alloys conference in Lisbon this week. Manganese ore prices have trended higher since May this year. Fastmarkets MB's 44% manganese ore index was last calculated at $7.13 per dry metric tonne unit dmtu,...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The Turkish steel mills continued their silence in the deep-sea scrap markets for another day on Wednesday November 14, because of a softening rebar market and increasing scrap supply in Europe, Fastmarkets was told.After booking two cargoes from the United States late last week, Turkish mills paused their purchases. Meanwhile, rebar prices have shown a downturn with news of recent sales at $506-5...Read More
The Wednesday Market Minute Global stocks retreat as of the world's biggest economies shrink in the wake of world trade disputes and oil prices extend their longest losing streak on record.Brent oil has fallen more than 25% since its early October peak, and four-year high, as ramping U.S. production and waivers allowing for the sale of Iranian crude have hammered global prices.Japan and Ger...Read More
A series of Chinese policies aimed at restricting imports of copper scrap is not expected to significantly alter the supply/demand balance in the world's largest copper consuming country, industry executives said during a panel discussion at Asia Copper Week in Shanghai. "Despite the restriction of category-7 copper scrap imports this year, we have seen limited impact on the industry this year," Q...Read More
Vietnam, a major consumer of scrap in Asia, has purchased at least 30,000 tonnes of Japanese H2 materials this week.Deals involving at least two bulk shipments bound for southern Vietnam were heard concluded around $329-330 per tonne cfr Vietnam.This suggests that fob Japan prices have fallen further from last week's level of ?34,700-35,000 ($305-307) per tonne after a tender held by the Kanto Te...Read More