SHANGHAI, Jul 10 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index fell below 94 on weaker-than-expected salary data, but closed slightly up from the previous trading day, given a declining euro on political turmoil in London overnight. Base metals mostly rose but with limited momentum with pressure from the China-...Read More
* Trade war fears recede* STOXX rises 0.6 pct, FTSE up 0.9 pct* Britain's Foreign and Brexit ministers resign (Updates prices, adds details)By Julien Ponthus and Helen ReidLONDON, July 9 (Reuters) - A wave of optimism about the resilience of the global economy helped European shares make gains despite the escalation of the U.S.-China trade dispute and renewed divisions in the British government ar...Read More
* FTSE 100 up 0.9 pct* Foreign Sec resignation dents sterling* Political uncertainty hurts real estate stocks* BHP up on U.S. shale deal speculation* Broker upgrade boosts Just Eat (Updates prices, adds details)By Danilo Masoni and Helen ReidMILAN/LONDON, July 9 (Reuters) - Britain's FTSE 100 jumped on Monday after two leading eurosceptic ministers' resignations dented sterling, with real estate...Read More
Investing.com - Gold prices started the week off on the right foot, heading further away from seven-month lows seen last week, as easing worries over inflationary pressure supported the precious metal.At 11:09AM ET (15:09GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange gained $6.60, or 0.5%, to $1,262.40 a troy ounce.Last Friday’s jobs report s...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 copper Both metals have been battered in the past month as US president Donald Trump...Read More
After a gravity-defying run, nickel has now also succumbed to weakness in the industrial metals complex as global trade fears mount, declining to $14,125 per tonne on Monday.The metal, mainly used in stainless steel manufacture, is down 10% or more than $1,600 a tonne from more than three-year highs hit on the LME a month ago.Nickel is still up by 62% compared to its June 2017 lows, mostly on the...Read More
Metals and minerals prices have come a long way since hitting multi-year lows late-2015, early 2016.Copper is up by nearly half, recent weakness notwithstanding. Zinc's nearly doubled since then and nickel bulls (suddenly aplenty) have achieved the same for devil's copper, the only major metal in positive territory for 2018.Gold has gained 20% from lows hit mid-December 2015; technically a bull...Read More
(Bloomberg) - Escalating trade conflict between the U.S. and China has sent industrial metals to oversold territory. Invesco Ltd.'s Jason Bloom is counting on President Donald Trump's playbook to reverse those losses.Bloom isn't alone. Citigroup Inc. metal analyst Max Layton is optimistic that the standoff could end within months. Economists at ING Bank are hopeful Trump's rhetoric will calm down...Read More
Tiger Resources will not be selling its Democratic Republic of the Congo mining and exploration assets to Sinomine HK for $260M.Tiger Resources said on Friday that terms acceptable to the company were not acheived and it issued a notice of termination to Sinomine HK.The assets comprised of the Kipoi Project, Lupoto Project and La Patience permit. Announcing the sale in January, Tiger said it was f...Read More
Written with material from Denham Capital news releaseDenham Capital, a resources and energy-focused global private equity firm, closed its first stand-alone mining fund, the Denham Mining Fund, at $558 million to expand its portfolio in Australia, Canada, South America and Africa.Denham Capital says it will continue its strategy of partnering with management teams with proven track records to ac...Read More
SHANGHAI, Jul 9 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendThe US dollar index hit a three-week low to around 93.9 and closed at 94 last Friday night. This was 0.52% lower from a week ago, marking the biggest loss in four weeks.LME base metals traded under pressure on escalated tension between China and the US. Nickel led the lo...Read More
Investing.com - This week’s U.S. inflation report on Thursday will be in the spotlight as a strong reading could bolster the case for the Federal Reserve to stick to a gradual pace of rate hikes this year, which is typically bearish for gold.Gold prices slid on Friday but still managed to post a weekly gain, as the dollar weakened.Gold futures for August delivery were down $2.9 or 0.23% to s...Read More
(Updates through close of U.S. trading)By David RandallNEW YORK, July 6 (Reuters) - World stock markets rose and the euro climbed to a three-week peak on Friday as the threat of tariffs by the United States and China on billions of dollars of trade became a reality, though concerns about the conflict escalating capped the appetite for risk.MSCI's measure of world equities markets .MIWD00000PUS ros...Read More
SHANGHAI, Jul 9 (SMM) – Ferrous and nonferrous metals rallied on Monday July 9 as China’s foreign exchange reserves rebounded in June, and as the US-China trade conflict slightly receded from the spotlight.SHFE nonferrous metals closed with a mixed performance, with lead and nickel lower. Copper performed strongly and jumped 1.46%. Zinc rose over 1%, and tin and aluminium inc...Read More
SHANGHAI, Jul 9 (SMM) – Copper: LME copper consolidated around the daily moving average at $6,300/mt during the European trading session, after rising to a high of $6,334/mt on weaker US dollar. It closed at $6,308.5/mt, down $15.5/mt from the previous trading day. The SHFE 1809 contract was pushed up by longs to a high of 49,380 yuan/mt last Friday night, and closed at that level. As d...Read More
(Updates with early afternoon trading)By David RandallNEW YORK, July 6 (Reuters) - World stock markets rose and the euro climbed to a three-week peak on Friday as the threat of tariffs by the United States and China on billions of dollars of trade became a reality, though concerns about the conflict escalating capped the appetite for risk.MSCI's measure of world equities markets .MIWD00000PUS rose...Read More
Investing.com - Gold prices remained lower on Friday as the U.S. dollar weakened and U.S. trade tariffs against China went into effect.Comex gold futures for August delivery decreased 0.16% to $1,256.80 a troy ounce as of 10:24 AM ET (14:24 GMT).Trade conflict between the two biggest economies in the world began in force on Friday, when U.S. tariffs on $34 billion worth of Chinese goods went into...Read More
* World stocks up 0.2 pct, China shares rise* Tariffs on Chinese goods kick in, Beijing retaliates* Economic barometer copper falls* Market volatility falls even as uncertainty risesBy Saikat ChatterjeeLONDON, July 6 (Reuters) - Stocks rose and the euro climbed to a three-week peak as the imposition of tariffs by the United States and China on billions of dollars of trade was absorbed calmly by ma...Read More
(Bloomberg) -- Donald Trump’s attempts to re-balance global trade have already sent the metals world into a tizzy. As countries respond to U.S. tariffs and sanctions, the disarray is set to increase.Steel prices and aluminum premiums are shooting up in the U.S. thanks to tariffs, threatening to wreak havoc on manufacturers. Everywhere else metal prices are on a roller-coaster ride, with copp...Read More