SHANGHAI, Feb 7 (SMM) –Copper: The global stock market rout may have limited impact on commodities and we expect SHFE copper to gather enough momentum to go up in short term. We see the 1804 contract to trade at 52,700-53,300 yuan/mt today while LME copper is expected at $7,050-7,110/mt. Spot prices continued to be affected by the spread between the 1802 and 1803 contracts and spot copper is...Read More
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The terrifying truth about North Korea’s nuclear weapons ...”North Korea just stated that it is in the final stages of developing a nuclear weapon capable of reaching parts of the US,” President-elect Donald Trump tweeted on January 2. “It won’t happen!” However, the terrifying truth is that North Korea, the only country to have tested nuclear weapons in the 2...Read More
* Mining stocks began outperforming late 2016* Fundamentals stronger for mining versus oil - analysts* European oil vs mining, monthly returns http://reut.rs/2jGqkBV* BP , Statoil shares hit by earnings disappointmentBy Vikram Subhedar and Barbara LewisLONDON/CAPE TOWN, Feb 7 (Reuters) - Mining stocks are outpacing oil-related peers in a "reflation rally" sparked by U.S. President Donald Trump...Read More
Investing.com - Gold prices were little changed in European morning trade on Tuesday, holding steady near the prior session's three-month high as investors sought the perceived safety of the yellow metal amid growing concerns over political risks in Europe and around the globe.Gold for April delivery on the Comex division of the New York Mercantile Exchange tacked on 25 cents, or less than 0.1%,...Read More
The terrifying truth about North Korea’s nuclear weapons ...”North Korea just stated that it is in the final stages of developing a nuclear weapon capable of reaching parts of the US,” President-elect Donald Trump tweeted on January 2. “It won’t happen!” However, the terrifying truth is that North Korea, the only country to have tested nuclear weapons in the 2...Read More
The Philippines mining industry is fighting the government's recent decision to close more than half the country's mines and reduce nickel ore exports, saying it's "illegal and unfair."According to the country's Chamber of Mines, the order to close 23 of the nation's 41 mines and suspend another five not only did not follow standard legal procedures, but used alleged breaches of environmental and...Read More
Shares in Canadian junior Copper One (TSX-V:CUO) soared Monday, climbing as much as 15.4% in midday trading, as the company announced it had begun proceedings against the Quebec Ministry of Forests, Wildlife and Parks (MFFP) in the superior court over a denied permit.The Toronto-based miner said it has reasons to believe the province's Ministry of Energy and Natural Resources (MERN) influenced MFF...Read More
Investing.com - Gold prices gained in European morning trade on Monday, rising toward the highest level in about 12 weeks as investors scaled back expectations for a more aggressive pace of rate hikes from the Federal Reserve this year.Gold for April delivery on the Comex division of the New York Mercantile Exchange rose to a session peak of $1,227.00 a troy ounce, the most since November 16.It wa...Read More
Republican attack on Fed casts doubt over global bank rules Trump-era co-operation uncertain as congressman criticises deals with 'foreign lands' ... The future of cross-border co-operation on bank regulation in the Trump era has been thrown into doubt, with domestic pressure mounting on the US Federal Reserve and a senior member of the House of Representatives calling on the central bank not to n...Read More
SHANGHAI, Feb 6 (SMM) – SHFE aluminium led the loss in base metals today with an over 1% drop, while nickel was down 0.75% and lead was 0.66% lower. Copper slid 0.51%.The ferrous complex showed much stronger performance today as coke and coking coal rose 2%. Iron ore also edged up slightly but hot-rolled coil and rebar dipped.Copper: SHFE copper was weaker due to an overall bearish sentiment...Read More
SHANGHAI, Feb 6 (SMM) – SMM assessed imported copper concentrate treatment charges (TCs) at $74-86/mt as of Friday February 2, unchanged from a week ago as the holiday mood kicked in.Trading liquidity was thin and enquiries were few and far between, sources told SMM. We expect the copper concentrate spot market to be quiet until early March.In the domestic market, the pricing coefficient of...Read More
SHANGHAI, Feb 6 (SMM) –Copper: We see firm support for SHFE copper at the 53,000 yuan/mt level with both sides of the market at a standoff. In the spot market, sellers were unwilling to let go their cargoes at big discounts as the price spread between the SHFE 1802 and 1803 contracts continued to expand. We expect spot copper to trade at a discount of 40 yuan/mt to a premium of 20 yuan/mt to...Read More
Palisade Research February 6, 2017 Category: Research Why do mining legends Rick Rule, Doug Casey, and Marin Katusa obsess over uranium when it is such a small component of the commodity market?Billionaires Mark Cuban and Robert Friedland have their chips stacked in the trade. Even Hong Kong's richest man Li Ka-shing is making a bet that uranium prices are set for an epic comeback.So what makes ur...Read More
Republican attack on Fed casts doubt over global bank rules Trump-era co-operation uncertain as congressman criticises deals with 'foreign lands' ... The future of cross-border co-operation on bank regulation in the Trump era has been thrown into doubt, with domestic pressure mounting on the US Federal Reserve and a senior member of the House of Representatives calling on the central bank not to n...Read More
Taseko Mines (TSX:TKO) is not giving up on its plan to build a large copper-gold mine in north-central British Columbia, despite two earlier rejections by the Government of Canada.The Vancouver-based company last week appeared in Federal Court asking for a judicial review of the federal government's decision to reject, on environmental concerns, the New Prosperity Mine project located 125 kilomet...Read More
A recently excavated Buddhist stupa, or shrine, at Mes Aynak, 35 km south of Kabul. 2011 photo by Jerome Starkey, from Wikimedia Commons.Two Chinese state-owned mining companies plan to destroy an ancient Buddhist city in Afghanistan in order to get the copper underneath it, according to a new documentary. According to the film "Saving Mes Aynak," Metallurgical Group Corp. (MCC) and Jiangxi Copper...Read More