SHANGHAI, Jan 31 (SMM) –Copper: Lacklustre downstream consumption has dragged the performance of copper futures of late but we see support for SHFE copper at 53,000 yuan/mt. LME copper, meanwhile, is set to trade at $7,050-7,110/mt. We see spot discounts stable today at 210-150 yuan/mt amid quiet physical market.Aluminium: LME aluminium will test support at the $2,200/mt level today while th...Read More
SHANGHAI, Jan 31 (SMM) – Copper scrap spot prices fell 100 yuan/mt on Wednesday January 31 as downstream customers started to close for the Chinese New Year holiday.The 1# bare bright copper in Guangdong province area traded at 46,500-46,800 yuan/mt today, SMM learned. Trading was limited as supply remained tight and seller were reluctant to let go cargoes easily. For editorial qu...Read More
SHANGHAI, Jan 31 (SMM) –Copper: Lacklustre downstream consumption has dragged the performance of copper futures of late but we see support for SHFE copper at 53,000 yuan/mt. LME copper, meanwhile, is set to trade at $7,050-7,110/mt. We see spot discounts stable today at 210-150 yuan/mt amid quiet physical market.Aluminium: LME aluminium will test support at the $2,200/mt level today while th...Read More
Published on: Jan 31, 2018 | by finfeedAustralian Mines Limited (ASX:AUZ) has appointed Medea Natural Resources Limited in an advisory role, as the company enters into its off-take and financing negotiations for its 100%-owned Sconi cobalt-nickel-scandium project in north Queensland.The agreement will see the advisory firm assist AUZ in coordinating with several potential off-take partners, which...Read More
SHANGHAI, Jan 31 (SMM) – Tongling Nonferrous Metals Group’s net profits for 2017 are expected to amount to 510-580 million yuan, up 183-222% from a year ago, the company said in a statement on Wednesday January 31. This is due to the increase in average processing fees of copper foil, the company noted. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For mor...Read More
SHANGHAI, Jan 31 (SMM) –Copper: Lacklustre downstream consumption has dragged the performance of copper futures of late but we see support for SHFE copper at 53,000 yuan/mt. LME copper, meanwhile, is set to trade at $7,050-7,110/mt. We see spot discounts stable today at 210-150 yuan/mt amid quiet physical market.Aluminium: LME aluminium will test support at the $2,200/mt level today while th...Read More
On the Gold Price Opportunity .....okay so just the four questions I'll30:08just finish off for a second on kind of30:11white gold because I'm not really known30:14as a gold bag I've never been a fanatic30:17about gold or or even for that matter30:19silver is a very firm believer in cycles30:23this is a cyclical business Rin in the30:26commodity business gold is no exception30:28just like copper a...Read More
Base metals prices on the London Metal Exchange closed in positive territory across the board on Wednesday January 31, supported by dollar weakness. The three-month nickel price remained the strongest performer of the complex throughout the day, supported from dip-buying. "A combination of surging China imports, tightening supplies and fund interest are expected to sustain prices of stainless stee...Read More
Comex copper prices bounced back on Wednesday January 31 after a multi-session downturn with a softening dollar lifting the metals complex. Copper for March settlement on the Comex division of the New York Mercantile Exchange gained 2.90 cents or 0.9% to $3.2180 per lb. The contract had been on a four-day losing streak. "Judging by the limited pullback and decent dip-buying interest, bulls are sti...Read More
Iron ore prices continued to hover around $73 per tonne cfr China on Wednesday January 31 amid an inactive physical market. Metal Bulletin's 62% Fe Iron Ore Index Today: $72.92 per tonne cfr Qingdao Daily change: down by $0.05 per tonne Month-to-date average: $75.83 per tonne Metal Bulletin's 58% Fe Premium Index Today: $59.96...Read More
Export prices for Southern European rebar have gone unchanged week-on-week amid continued low market activity, sources told Metal Bulletin on Wednesday January 31.Metal Bulletin's weekly export price assessment for Southern European rebar was ?,?490-505 ($607-626) per tonne fob main ports on Wednesday."There is little activity but we cannot rush into the market and drop prices immediately. The bes...Read More
Domestic prices for heavy steel plate in Europe are expected to rise following the positive trend settled in the region's market for steel coil products, sources told Metal Bulletin on Wednesday January 31.High slab costs are also expected to support higher plate prices, especially in Southern European, where the majority of plate produced by re-rollers, according to market source.Metal Bulletin's...Read More
GFG Alliance has been granted full planning permission for a new 400-worker alloy wheel factory next to the Liberty British Aluminium smelter at Fort William, Scotland, the company said. The new plant, part of a ?120 million ($170 million) investment by GFG at Fort William, will utilize aluminium from the adjacent smelter. Liberty is a part of British group GFG Alliance, the investment vehicle ow...Read More
TSX VENTURE: MLwww.millenniallithium.com Mr. Farhad Abasov reports:US$ 824 million after-tax NPV at 8% discount rate and IRR of 23.4% for 25,000 TPY production of lithium carbonate.CAPEX estimate of Total Costs of US$410 million for 25,000 TPY production;OPEX of US $3,218/tonne of lithium carbonate over the life of the mine.Operation based on proven solar evaporation technology and conventional li...Read More
The Century zinc mine, the world's third largest prior to its 2016 closure, is on track to restart production in late July and generate up to 264,000 tonnes per year of zinc.Fully owned by New Century Resources, the mine in Australia's Queensland is set to complete its start-up production in three months' time, according to the company's quarterly activities report released on Wednesday. First pro...Read More
TSX: BARwww.balmoralresources.com Mr. Darin Wagner reports:VANCOUVER, British Columbia, Jan. 31, 2018 (GLOBE NEWSWIRE) -- Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX:BAR) (OTCQX:BALMF) is pleased to announce that it has commenced its first exploration program on the HWY 810 property in Quebec. The wholly owned HWY 810 property was acquired by Balmoral through staking in 2016/2017. T...Read More
TSX: NSUwww.nevsun.com Mr. Peter Kukielski reports:VANCOUVER, Jan. 31, 2018 /CNW/ - Nevsun Resources Ltd. (TSX:NSU) (NYSE AMERICAN:NSU) (Nevsun or the Company) today provided its outlook and guidance for 2018. Unless otherwise noted, all dollar amounts are in millions of US dollars.2018 Outlook HighlightsAchieve top quartile safety performance at all operationsInvest $50 to $60 million advancing t...Read More
Tin premiums for standard material were stable globally in the week ended Tuesday January 30 but the market is looking hungrier for Indonesian material and keenly awaiting exports to resume as expected in the coming days. 99.9% tin premiums stable in Europe and China but a bit higher in the United States Indonesian export permit renewal process still main focus Low-lead tin premiums a...Read More
TSX: IMGwww.iamgold.com Mr. Steve Letwin reports:TORONTO, Jan. 31, 2018 /CNW/ - IAMGOLD Corporation ("IAMGOLD" or the "Company") today provided results from its 2017 drilling program at the Diakha deposit on its wholly owned Siribaya project in Western Mali. In 2017, the Company completed a combined diamond and Reverse Circulation ("RC") drilling program designed to infill and increase confidence...Read More
Zinc premiums were largely flat in inactive spot markets in the week to Tuesday January 30, with the exception of Southeast Asian market, thanks to growing galvanizing demand in Vietnam, while lead premiums were steady on weak spot demand. Zinc premium for Southeast Asia ticked up on growing galvanizing demand from Vietnam, but were largely unchanged elsewhere LME zinc price set a new 10-ye...Read More