SHANGHAI, Feb 2 (SMM) – Russian nickel was trading at a discount of 300 yuan/mt against the Wuxi Stainless Steel Exchange 1802 contract on Friday February 2 whereas Jinchuan nickel was flat in the Shanghai market, SMM learned. Higher nickel futures prices overnight have left market participants reluctant to trade. Transactions were reported at 103,300-104,000 yuan/mt in the morning. &n...Read More
SHANGHAI, Feb 2 (SMM) –Copper: A stronger Chinese yuan, a lower SHFE/LME price ratio, and tighter funds ahead of Chinese New Year led us to expect a rangebound trading for the SHFE copper contract. We see support at 52,500-53,000 yuan/mt today while LME copper may trade at $7,080-7,140/mt. Spot discounts are seen at 100-40 yuan/mt today with reluctant sellers. Aluminium: LME aluminium...Read More
The long term Treasury ETF dropped below $121.40 completing a Head & Shoulders pattern. StockTwits Released Yesterday @EquityClockOpen Text $OTEX, a TSX 60 stock moved above $35.80 to an all-time high extending an intermediate uptrend. AT&T $T, a Dow Jones Industrial stock moved above $38.81 completing a reverse Head & Shoulders pattern.Technical action by S&P 500 stocks to 10...Read More
SHANGHAI, Feb 2 (SMM) –Copper: A stronger Chinese yuan, a lower SHFE/LME price ratio, and tighter funds ahead of Chinese New Year led us to expect a rangebound trading for the SHFE copper contract. We see support at 52,500-53,000 yuan/mt today while LME copper may trade at $7,080-7,140/mt. Spot discounts are seen at 100-40 yuan/mt today with reluctant sellers. Aluminium: LME aluminium...Read More
Published on: Feb 2, 2018 | by finfeedLithium Australia NL (ASX:LIT) has provided a promising update on its SiLeach (R) technology, announcing it will develop a large-scale pilot plant (LSPP) - having already approved front-end engineering and design (FEED) for the plant.The move is considered a pivotal step on the road to commercialisation and will symbolise LIT's final stages of research and dev...Read More
Base metals prices on the London Metal Exchange are at first sight looking quite mixed this morning, Friday February 2, with copper and lead in positive territory, tin unchanged and aluminium, zinc and nickel in negative territory.But on closer inspection of the charts, all look well placed to push higher following average gains of 1.1% on Thursday. Indeed copper, that has been one of the laggards...Read More
Shigemoto Toma, who was Goldman Sachs' senior aluminium trader until November, is joining Macquarie bank in Singapore, Metal Bulletin understands. Toma will join Macquarie's base metals trading team on February 8 and will help the bank grow its physical...Read More
Lead and tin were the only base metals on the London Metal Exchange to close the week in positive territory, while the rest of the complex came under pressure from a strengthening dollar.The three-month lead price continued to trade around a fresh six and a half year high and was at $2,680 per tonne at the 5pm close. "Data on the ground also supports the bullish LME lead market, which was often un...Read More
Comex copper prices softened to a one-week low amid a rising dollar, which was sparked by a strong US jobs report.Copper for March settlement on the Comex division of the New York Mercantile Exchange fell 3.40 cents or 1.1% to $3.1640 per lb. "We continue to like copper as global concerted growth is likely to support the red metal enough to maintain its bullish uptrend," Metal Bulletin analys...Read More
China's domestic rebar prices remained in an upward trend on Friday February 2 amid gains in the billet and futures markets, though trading activity remained thin.Domestic Eastern China (Shanghai): 3,840-3,900 yuan ($610-619) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,920-3,950 yuan per tonne, narrowed upward by 20 yuan per tonneThe gains in the billet and paper markets pushed up s...Read More
Lead and tin were the only base metals on the London Metal Exchange to close the week in positive territory, while the rest of the complex came under pressure from a strengthening dollar.The three-month lead price continued to trade around a fresh six and a half year high and was at $2,680 per tonne at the 5pm close. "Data on the ground also supports the bullish LME lead market, which was often un...Read More
TSX VENTURE: CXBwww.calibremining.com Mr. Greg Smith reports:VANCOUVER, British Columbia, Feb. 01, 2018 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX-V:CXB) (the "Company" or "Calibre") is pleased to report final drilling results for the Q4 2017 diamond drilling program on the Eastern Borosi Gold Project, Nicaragua (the "Project"). Exploration and drilling on the Project is being funded by C...Read More
Steel scrap prices in the major global markets weakened following the decrease in Turkish import prices during the working week from Monday January 29 to Friday February 2.Turkish steel mills have slowed down their deep-sea bookings over the past week to put downward pressure on prices, and booked only one deep-sea cargo before Thursday, when they booked three more cargoes at lower prices late in...Read More
TSX VENTURE: LSCwww.lsclithium.com Mr. Ian Stalker reports:HIGHLIGHTSMeasured and Indicated Mineral Resource of 1,296,344 tonnes LCEInferred Mineral Resource of 312,942 tonnes LCEMeasured and Indicated Mineral Resource average grade of 387mg/l LiInferred Mineral Resource average grade of 323mg/l LiUpgraded NI 43-101 Mineral Resource estimate by end of Q3 2018Pozuelos is 17 km away from the Pastos...Read More
Production of nickel intermediates will need to ramp up in order to meet forecast demand from the electric-vehicle (EV) sector, according to Anne Oxley, technical director of Brazilian Nickel. The nickel industry and supply chain is not structured to cater to the specific needs of EV battery manufacturers, delegates heard at the Advanced Automotive Battery Conference in Mainz, Germany, this week....Read More
CSE: CBKwww.copperbankcorp.com Mr. Gianni Kovacevic reports:VANCOUVER, BC / ACCESSWIRE / February 2, 2018 / CopperBank Resources Corp. ("CopperBank" or the "Company") (CNSX: CBK, OTC PINK: CPPKF, FSE: 9CP) is pleased to announce that SRK Consulting ("SRK"), an independent consulting firm, has delivered a NI 43-101 compliant report containing an updated mineral resource estimate for the Company's 1...Read More
Southern Copper Corp reported higher copper and zinc sales volumes and prices in the fourth quarter of 2017, but these were overshadowed by the negative impact of a one-time payment related to the tax reform in the United States.The Grupo Mexico-controlled miner posted a $287.5-million net loss in the three months ended December 31, surprising market analysts who expected it to report a strong net...Read More
TSX: KDXwww.klondexmines.com Mr. Paul Huet reports:VANCOUVER, British Columbia, Feb. 01, 2018 (GLOBE NEWSWIRE) -- Klondex Mines Ltd. (TSX:KDX) (NYSE American:KLDX) ("Klondex" or the "Company") reported today its preliminary operating results for the fourth quarter and full-year 2017. In addition, the Company reported that its Investor Day, previously scheduled for February 7, 2018, has been p...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsGFG 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...Read More
Shigemoto Toma, who was Goldman Sachs' senior aluminium trader until November, is joining Macquarie bank in Singapore, Metal Bulletin understands. Toma will join Macquarie's base metals trading team on February 8 and will help the bank grow its physical...Read More