RAPAPORT... Pandora sales lagged behind expectations in 2017, as the jewelernoted a decrease in traffic to its stores in Asia and difficult US market conditions.Revenue rose 12% to $3.74 billion (DKK 22.78 billion) for the year, shy of the $3.78 billion to $3.94 billion (DKK 23 billion to DKK 24 billion)that it forecast. At constant exchangerates, revenue grew 15%, the Danish seller of charm brace...Read More
CAPE TOWN – Zimbabwe will consider applications from companies mining platinum or diamonds to be exempted from a requirement that they be at least 51% owned by black citizens of the country.The government wants companies to show they have a plan to achieve compliance before it will consider granting waivers, Mines Minister Winston Chitando said in an interview in Cape Town Wednesday.Advertis...Read More
RAPAPORT... Timeshave not been good for Signet Jewelers. A decidedly disappointing holidayseason saw same-store sales slide by 5.3%. This followed a 4.6% drop in 2016.Add to this poor performance the sexual harassment and discriminationallegations that have hounded the retail giant, and a share price that slumped30% over the past year, and it becomes apparent that 2017 was a cocktail ofcatastrophe...Read More
Good morning from Metal Bulletin's London office; we bring you the latest news and pricing stories on Thursday February 8.Base metals on the London Metal Exchange were largely lower pushed down this morning by fresh deliveries and a stronger dollar. The copper price was dented by another large delivery into LME-listed warehouses today. 25,950 tonnes were delivered in across Busan, Port Klang...Read More
CAPE TOWN (miningweekly.com) – This year’s Investing in African Mining Indaba has just ended here and the organisers are already putting their thinking caps on to make next year’s twenty-fifth anniversary of the event a grand affair.The names Cyril Ramaphosa, Elon Musk and the top who’s who of global and African mining are already mulling through minds as potential leading...Read More
RAPAPORT... Sentiment was strong at International Diamond Week in Israelas traders displayed optimism about the market and noted shortages were supporting prices.Visitors observed increased traffic and exhibitor numbersfrom last year, with dealers from around the world attending theMonday-to-Wednesday event at the Ramat Gan bourse. "It's a positive market, and we are happy to be here," said Digesh...Read More
Good morning from Metal Bulletin's offices in Shanghai as we bring you the latest news and pricing stories on Thursday February 8.Base metals traded on the Shanghai Futures Exchange were broadly lower during Asian morning trading on Thursday, with only aluminium in positive territory, after a jump in the dollar overnight and a bout of profit-taking sank prices.The most-traded April copper contract...Read More
SHANGHAI, Feb 8 (SMM) – SHFE aluminium edged up slightly while all base metals fell more than 1%. SHFE copper dropped close to 2%. The ferrous complex saw mixed trading with hot-rolled coil and iron ore up slightly while rebar and coking coal slipped.Copper: SHFE copper is expected to follow its LME counterpart lower tonight as investors cut their long bets.Aluminium: We see pressure remain...Read More
SHANGHAI, Feb 8 (SMM) – SHFE aluminium edged up slightly while all base metals fell more than 1%. SHFE copper dropped close to 2%. The ferrous complex saw mixed trading with hot-rolled coil and iron ore up slightly while rebar and coking coal slipped.Copper: SHFE copper is expected to follow its LME counterpart lower tonight as investors cut their long bets.Aluminium: We see pressure remain...Read More
SHANGHAI, Feb 8 (SMM) – SHFE aluminium edged up slightly while all base metals fell more than 1%. SHFE copper dropped close to 2%. The ferrous complex saw mixed trading with hot-rolled coil and iron ore up slightly while rebar and coking coal slipped.Copper: SHFE copper is expected to follow its LME counterpart lower tonight as investors cut their long bets.Aluminium: We see pressure remain...Read More
Listen to this podcast airing on our site by clicking here or subscribe on iTunes here.We've seen markets get spooked recently as 10-year Treasury yields have continued to climb. On our recent Lifetime Income program, Jim Puplava delves into bond risk and what it means for your portfolio.Bond Market Risk AheadWe're in the middle of a Federal Reserve rate raising cycle right now, and...Read More
SHANGHAI, Feb 8 (SMM) – China imported 443,000 mt of unwrought copper and copper-fabricated products in January, up 16.1% from the same month last year, according to customs data.However, this was down from 450,000 mt in December 2017, marking a decline for two consecutive months. This is due to limited construction activities in the winter season as well as a high output rate at home.Separa...Read More
SHANGHAI, Feb 8 (SMM) – Russian nickel was trading at a discount of 200 yuan/mt to the Wuxi Stainless Steel Exchange 1803 contract on Thursday February 8, SMM learned. This compared with a discount of 300 yuan/mt hear a day earlier.Jinchuan nickel was trading at a premium of 100-200 yuan/mt, up from 100 yuan/mt on Wednesday.Transactions were mostly reported at 99,000-100,100 yuan/mt today, d...Read More
SHANGHAI, Feb 8 (SMM) –Copper: Lower oil prices and a stronger US dollar are bearish on base metals but we see limited downward room for copper due to expectations of tighter concentrate supply in the future. We expect LME copper to trade at $6,880-6,950/mt today and SHFE copper at 51,800-52,240 yuan/mt. As the SHFE physical delivery is around the corner, it would be difficult for spot coppe...Read More
SHANGHAI, Feb 8 (SMM) –Copper: Lower oil prices and a stronger US dollar are bearish on base metals but we see limited downward room for copper due to expectations of tighter concentrate supply in the future. We expect LME copper to trade at $6,880-6,950/mt today and SHFE copper at 51,800-52,240 yuan/mt. As the SHFE physical delivery is around the corner, it would be difficult for spot coppe...Read More
SHANGHAI, Feb 8 (SMM) –Copper: Lower oil prices and a stronger US dollar are bearish on base metals but we see limited downward room for copper due to expectations of tighter concentrate supply in the future. We expect LME copper to trade at $6,880-6,950/mt today and SHFE copper at 51,800-52,240 yuan/mt. As the SHFE physical delivery is around the corner, it would be difficult for spot coppe...Read More
Metal Bulletin correspondents round up the main topics and trends from the final day of the 2018 Investing in African Mining Indaba. Resource nationalism Miners are expecting a showdown in the Democratic Republic of Congo, where a new mining code is slated to be signed into law. But instead of fighting individual battles, companies are for the first time pulling together in a force that unites bot...Read More
Base metals traded on the London Metal Exchange are little changed this morning, Thursday February 8, with copper (+0.5%) and zinc (+0.5%) the only metals in positive territory, while the rest are under slight downward pressure. Volume remains healthy, however, with 18,941 lots traded as of 07.16 am London time.The base metals complex seems to be undermined by a more pronounced appreciation in the...Read More
Base metals prices on the London Metal Exchange mostly recovered from early morning lows at the close on Thursday February 8, but copper prices remained downbeat.Copper closed $35 lower after crashing over 2.4% on Wednesday, prices remain below $6,900 per tonne following further deliveries into LME-listed warehouses. "Copper was weaker earlier on news that LME stocks rose by another 21,000 tonnes...Read More
Comex copper prices bounced back on Thursday February 8 after crashing to a multi-week low the day before, with investors still upbeat on global growth prospects for 2018. Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 1.00 cents or 0.3% to $3.0975 per lb. Yesterday, the metal touched $3.1060, the weakest since January 23. "Downside prices risks are like...Read More