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
Amazon has patented a wristband that can track warehouse employees' hand movements and also use vibrations to control where they put their handsContinue...Read More
On Monday copper for delivery in March declined more than 1% in New York at $2.6545 per pound or $5,855 a tonne amid a general weakness on commodity and financial markets gripped by uncertainty surrounding the Trump administration's impact on the global economy and geopolitical stability. Last week copper touched its highest level since June 2015 above $2.70 a pound.Despite the pullback copper is...Read More
Nickel fell to a 13-year low of $7,725 a tonne ($3.50 a pound ) in February last year; then rallied to more than $11,700 by mid-November only to fall back nearly 20% to trade at a six-month low on Friday.Nickel, mainly used as an anti-corrosive in steel alloys, rallied in 2016 on the back of a clampdown on mines in the Philippines which took over as the main supplier to China following an ore exp...Read More
Frank discusses the gold and bond markets and how they have been driven by global uncertainty. Bond rates have begun to decline again which is bullish for the gold market. He talks about forward looking industrial indicators which are currently positive and how they are predictive of future global economic demand. Holmes says this is a good sign, and may be the underlying reason why commodities ha...Read More
Through a quietly released official announcement, the Federal Environment Secretary of Argentina, Sergio Bergman, informed that Argentina's National Glacier Inventory has just completed a glacier count in the controversial Famatina Mountains, and that the National Glacier Institute (the IANIGLA) recognizes the presence of glaciers and rock glaciers, as well as periglacial environment (permafrost),...Read More
Shares in Freeport McMoRan Inc (NYSE:FCX), the world's largest listed copper miner, were down on Monday despite reports indicating that Indonesia may issue a temporary permit valid for up to six months to the company's local unit, which could pave the way for the mining giant to resume exports of concentrate from its Grasberg mine in Papua.The temporary permit, valid for up to six months, would...Read More
Australia's biggest gold producer, Newcrest Mining (ASX:NCM) revealed Monday that gold production dropped in the last three months of 2016 as the company lowered production at one of its largest operations and sold a mine in Papua New Guinea.The company said gold production dropped to 614,715 ounces in the quarter ended in December, from 615,498 ounces in the three months immediately prior and 620...Read More
NEW DELHI, Jan 30 (Reuters) - India will launch its biggest aero geophysical survey of minerals next month to unearth deep-seated resources such as gold and copper, as it seeks to develop its mining industry and reduce its dependence on imports.The survey will cover more than 200,000 square kilometres across seven states from Rajasthan in the west to the southeastern state of Andhra Pradesh, India...Read More
* Financial shares lead Europe lower after fall in Asia* Wall Street signalled to open lower* Dollar dips vs yen, euro down on inflation undershoot* German inflation hits 3 1/2-year high but misses forcast* Graphic: World FX rates in 2017 http://tmsnrt.rs/2egbfVhBy Nigel StephensonLONDON, Jan 30 (Reuters) - Shares fell in Europe and Asia on Monday and the dollar dipped against the safe-haven yen a...Read More
Investing.com - Gold prices were higher in European morning trade on Monday, starting the week off with gains as the dollar slumped after immigration curbs introduced by U.S. President Donald Trump heightened concerns about the impact of the new administration's policies on trade and the economy.Gold futures for April delivery on the Comex division of the New York Mercantile Exchange rose $2.35, o...Read More
SHANGHAI, Jan 30 (SMM) – Nonferrous metals fell for the most part on Tuesday January 30 except for a small rise in SHFE tin. SHFE aluminium led the loss by a 1.5% decline, while copper and lead dropped close to 1%.The ferrous market saw mixed trading with iron ore and coking coal up slightly. Coke was down over 1%, as rebar slid 0.6% and hot-rolled coil slipped 0.5%.Copper: We expect copper...Read More
SHANGHAI, Jan 30 (SMM) –Copper: The latest Commitments of Traders report published by the Commodity Futures Trading Commission (CFTC) showed that investors have reduced their long positions following a price drop earlier last week. We see pressure for copper futures prices as Chinese consumptions dwindle ahead of Chinese New Year. The LME contract is expected to trade at $7,070-7,120/mt toda...Read More
Journalists Look Awkward in the ‘Opposition Party’ ... The opening days of Donald Trump's presidency are forcing the traditional news media to choose between squarely reporting on the president and more directly challenging him when he makes statements that are demonstrably false. The strategic choice between a watchdog mission and an active opposition must be made mindfully. Otherwise...Read More