SHANGHAI, Jul 6 (SMM) – This is a roundup of China’s base metals output in June. SMM surveyed major producers in the market to obtain first-hand information for calculation.CopperChina's output of refined copper in June dipped 3.3% on the month but rose 10.5% on the year and came in at 722,500 mt, SMM survey showed. Output during the first half of the year stood at 4.33 million mt,...Read More
SHANGHAI, Jul 6 (SMM) – Copper: Increasing short positions depressed LME copper to a low of $6,306.5/mt amid risk aversion sentiment as the US confirmed its tariffs on $34 billion of Chinese goods would be effective on Friday. The SHFE 1809 contract also slumped to a low of 49,270 yuan/mt with declining open interests. Its trading range is expected at 49,200-49,700 yuan/mt today with th...Read More
Arizona deal a sign of relaxed capital discipline?M&ASolGold set to shineSPONSOREDsolgoldIn February, the company agreed to pay Capstone Mining&nb...Read More
July 5 (Reuters) - Negotiations between workers and BHP Billiton Plc at the Escondida copper mine in Chile, the world's largest, are "far from reaching agreement" with less than three weeks to go before the negotiation deadline, a union official told Reuters on Thursday.The official, Carlos Allendes, said the union was preparing a $400,000 emergency fund to support workers if they opt to strike af...Read More
The price of copper suffered its seventh straight day of declines on Thursday, losing more than 3% in New York to $2.8205 or $6,220 a tonne on the Comex market, its lowest level since July last year.It was one of the busiest days of 2018 on commodity futures markets with with over 2.3m tonnes of September copper worth $14.6 billion exchanging hands by mid-afternoon. 2018 star performer nickel also...Read More
(Bloomberg) - Zambia agreed to give First Quantum Minerals Ltd. more time to complete its analysis of what the company might owe the southern African nation after it was slapped with a $7.9 billion tax bill, according to the finance minister.The Vancouver-based company is challenging the assessment from Zambia's revenue agency, which claims First Quantum incorrectly declared imports for one of its...Read More
World's second largest miner Rio Tinto (ASX, LON:RIO) said its recent decision to consolidate the sales and marketing teams in London and other European countries into one located in Frankfurt, Germany, had less to do with Brexit than with "synergies."In an interview with Australian Financial Review (subs. needed), chief executive Jean-S?(C)bastien Jacques said the plan was part of a wider reorga...Read More
SHANGHAI, Jul 5 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar inched down and hovered around 94.5 as markets remained wary over the China-US trade war ahead of tariffs implementation.Most LME and SHFE base metals dropped. LME zinc and lead fell over 2%, copper and nickel lost over 1%, tin inched down, while aluminium went...Read More
(Updates prices, writes through)* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* Trade worries weigh on MSCI AC World Index* Yuan steadies after Chinese central bank moves* Copper hits 9-month low* Dollar index unchanged, euro edges lower* European chipmaker stocks hitBy Ritvik CarvalhoLONDON, July 4 (Reuters) - World stocks were flat on Wednesday amid growing anxiety ahead of Washingto...Read More
Investing.com - Gold prices were at a one-week high on Wednesday as the U.S. dollar weakened.Comex gold futures for August delivery increased 0.36% to $1,258.00 a troy ounce as of 9:55 AM ET (13:55 GMT).Trading volumes are expected to remain thin throughout the day, as U.S. investors celebrate Independence Day.Gold was bolstered by a weaker U.S. dollar. Gold normally rises as the dollar falls, as...Read More
(Refiles to make headline read "Stocks" instead of "Stock")* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* Trade worries weigh on MSCI AC World Index* Yuan steadies after Chinese central bank moves* Copper hits 9-month low* Dollar index unchanged, euro edges lower* European chipmaker stocks hitBy Ritvik CarvalhoLONDON, July 4 (Reuters) - World stocks treaded water on Wednesday amid gro...Read More
* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* MSCI AC World Index falls on trade worries* Yuan steadies after Chinese central bank moves* Copper hits 9-month low* Dollar index unchanged, euro edges lower* European chipmaker stocks hitBy Ritvik CarvalhoLONDON, July 4 (Reuters) - World stocks were dragged lower on Wednesday by growing anxiety ahead of Washington's end of week deadline...Read More
(Adds company news items and futures)July 4 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 15 points lower at 7,578 on Wednesday, according to financial bookmakers, with futures FFIc1 down 0.10 percent ahead of the cash market open.* SAINSBURY'S: Sainsbury 's SBRY.L , Britain's second biggest supermarket group which agreed a 7.3 billion pound ($9.7 billion) takeover of rival Asda WMT....Read More
July 4 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 15 points lower at 7,578 on Wednesday, according to financial bookmakers.* BP: BP BP.L and ConocoPhillips (NYSE:COP) COP.N announced on Tuesday a swap deal that will see the British oil giant increase its stake in a major North Sea development while its U.S. peer will grow in Alaska. GLENCORE: U.S. authorities have demanded Glenc...Read More
* Asian shares near 9-month low, Nikkei down 0.7 pct* Falls in U.S. tech shares heighten worries* Yuan bounces back after PBOC's movesBy Hideyuki SanoTOKYO, July 4 (Reuters) - Asian stocks slipped on Wednesday on the spectre of a Sino-U.S. trade war ahead of an end-of-week deadline for U.S. tariffs on $34 billion worth of Chinese imports while the yuan stabilised after China's central bank moved t...Read More
SHANGHAI, Jul 5 (SMM) – Both nonferrous and ferrous metals fell across the board, except for rebar, on Thursday July 5 as the imminent US tariffs on Chinese imports weighed on market sentiment.SHFE zinc led the decreases with a slump over 4%. Copper tumbled close 3% and nickel dropped over 2%. Lead and tin lost close to 2% with aluminium fell close to 1%.Coke, iron ore and cok...Read More
SHANGHAI, Jul 5 (SMM) – Spot copper was mostly offered at a discount of 20 yuan/mt to a premium of 30 yuan/mt over the SHFE 1807 contract in Shanghai on Thursday July 5. This compared with a discount of 60-0 yuan/mt on Wednesday amid falling futures prices. Transactions cooled from Wednesday as the market grew cautious on declining copper prices. Offers from sellers fell as a...Read More
SHANGHAI, Jul 5 (SMM) – Copper: LME copper tumbled further after it broke support at $6,500/mt, touching a low of $6,344/mt as SHFE base metals dipped across the board amid intensified worries over a trade war. The SHFE 1808 contract also slumped all the way after opening, to a low at 49,180 yuan/mt before closing at 49,680 yuan/mt. We expect LME copper to trade at $6,360-6,420/mt, and...Read More
PolarX points to upsideSPONSOREDpolarx ltdChile's reputation as LatAm go-to destination faces long-term threats - AnalysisSPONSOREDverisk maplecroftFurther de-risking as Danakali debuts on bigger stageSPONSOREDdanakaliKing River's 'overnight' success story stretches back to 1970SPONSOREDking river copperThe ICA's Washington-based director of technology development and transfer, Hal...Read More