SHANGHAI, Apr 16 (SMM) – In an emergency response to the heavily-polluted weather in the Beijing, Tianjin and Hebei area this week, Tangshan city has initiated measures to cut emissions from 20:00 on Sunday April 16, SMM learned.On top of current non-heating season cutbacks, a further cut of 50%in output was imposed on sintering machines. Coke ovens were required to prolong co...Read More
SHANGHAI, Apr 16 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendDespite airstrikes in Syria by the US, UK and France, the US dollar index edged up slightly and closed at 89.78 on Friday April 13 as trade tension eased and the Federal Reserve Board’s March meeting took a aggressive stance.Most base metals rose but saw...Read More
SHANGHAI, Apr 16 (SMM) – Operating rates at Chinese copper rod producers jumped to 79.4% in March, up 10.05 percentage points year on year and 31.73 percentage points on the month, as orders improved from the electric wire and cable industry, according to an SMM survey.In April, operating rates are expected to further increase to 80.9% as producers reported brisk orders during the high seaso...Read More
SHANGHAI, Apr 16 (SMM) –Copper: LME copper rose and hit the five-day moving average but faced pressure at the 10-day moving average, as KDJ indicator extended downwards last Friday night. The SHFE 1806 contract mostly traded below all moving averages, and touched the joint of five- 10-, and 20- day moving averages with apparent pressure. The copper market was generally sluggish given un...Read More
In a statement sent late Friday in response to emailed questions, Rio said the force majeure declared on April 5 was ongoing, as it was still assessing the impact on RBM's production and sales delivery.Read More
There are few enough examples of more sustainable and lower-opex renewable installations for them to be news, like the new solar array part-powering IAMGold's Essakane mine in Burkina Faso, the 10 megawatt peak solar and lithium-battery system at Sandfire Resources' DeGrussa mine in Western Australia, or the wind and hydrogen fuel cell storage setup Glencore's at Raglan mine in Quebec.Read More
Federal judge Sebasti??n Casanello prosecuted Sergio Lorusso, Argentina's former Secretary of Environment, and Jorge Mayoral, former Secretary of Mines.The officials are accused of abuse of power in the case of the 2015 cyanide spill at Barrick Gold's (TSX, NYSE:ABX) Veladero mine, the first of three similar incidents registered at the operation between 2015 and 2017.According to Casanello's decis...Read More
* Global stocks gauge set for largest weekly gain in five* Aluminum hits 6-yr high; USD jumps to 6-week high vs. yen* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh (Updates prices, adds oil price settlements)By Rodrigo CamposNEW YORK, April 13 (Reuters) - A gauge of stocks across the world eased on Friday but was on track to end the week with its strongest performance in five, while oil...Read More
* Global stocks gauge set for largest weekly gain in five* Aluminum hits 6-yr high; USD jumps to 6-week high vs. yen* Oil set for biggest weekly gain since July* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh (Updates prices, changes dateline; previous LONDON)By Rodrigo CamposNEW YORK, April 13 (Reuters) - A gauge of stocks across the world fell on Friday but was on track to end the week...Read More
Investing.com - Gold rose on Friday, as the dollar wavered around the unchanged mark and Middle Eastern tensions remained in the back of investors’ minds.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, inched up 0.01% to 89.50 as of 10:32 AM ET (14:32 GMT).The dollar struggled for direction after rallying on Thursday. The greenba...Read More
* MSCI All Country World Index set for best week in a month* Easing fear of imminent U.S. attack on Syria* China trade data mixed, runs a rare deficit in March* Aluminium hits 6-yr high* Dollar jumps to 6-week high vs. yen* Oil set for highest weekly gain since July* Gold set for second week of gains* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Ritvik CarvalhoLONDON, April 13 (Reute...Read More
Investing.com - Gold was slightly higher on Friday, as tensions in the Middle East rose and the risk-adverse precious metal became more attractive to investors.Comex gold futures for June delivery were up 0.17% to $1,344.20 a troy ounce as of 4:41 AM ET (8:41 GMT).After a Russian diplomat said his country’s forces would shoot down U.S. missiles launched at Syria, U.S. President Donald Trump...Read More
* MSCI All Country World Index set for best week in a month* Easing fear of imminent U.S. attack on Syria* China trade data mixed, runs a rare deficit in March* Dollar jumps to six-week high vs. yen* Oil set for highest weekly gain since July* Gold set for second week of gains* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Ritvik CarvalhoLONDON, April 13 (Reuters) - World stocks and c...Read More
(Recasts lead, updates levels, adds analyst quote)* Asia ex-Japan shares tad firmer, earnings season to kick off* China trade data mixed, runs a rare deficit in March* Easing fear of imminent U.S. attack on Syria* Dollar jumps to six week high of 107.59 yenBy Hideyuki Sano and Swati PandeyTOKYO/SYDNEY, April 13 (Reuters) - Asian stocks were cautiously higher on Friday ahead of the U.S. earnings se...Read More
(Rewrites throughout with new levels, adds analyst quote)* Asia ex-Japan shares flat, earnings season to kick off* China trade data mixed, runs a rare deficit in March* Easing fear of imminent U.S. attack on Syria* Bitcoin supported after biggest gains in 4 monthsBy Hideyuki Sano and Swati PandeyTOKYO/SYDNEY, April 13 (Reuters) - Asia stocks pared early gains on Friday as caution crept in ahead of...Read More
Lithium and, more recently, cobalt have caught the attention of investors looking for exposure to the rush to electrify the world's transport system. But copper may be the commodity which benefits most from the slow death of the internal combustion engine.Read More
The state-owned mining company is developing a series of certifications for its operations based on their environmental and social qualities, such as their carbon footprint and respect for human rights.Read More
Canada's largest diversified miner Teck Resources (TSX:TECK.A | TECK.B)(NYSE:TCK) is amping up its corporate social responsibility game in northern Chile by investing $1 million in a program called Originarias.According to a press release, Originarias was launched in 2016 with a similar investment and is run in partnership between UN Women and Teck. The program's main goal is to provide education...Read More
Copper and iron ore eked out small price gains on Friday after customs data showed imports of raw materials by China improved during the first quarter.In brisk trading New York Comex copper for delivery in May was exchanging hands for $3.07 a pound ($6,770 per tonne). Copper is down 7% year to date.Rising imports have coincided with a build-up of inventories with stockpiles on the Shanghai exchang...Read More
Billionaire Andrew Forrest is studying a proposed 1,500-mile (2,400-kilometer) transcontinental natural gas pipeline as part of his iron ore company's strategy to diversify and to boost Australia's power supply network.Fortescue Metals Group Ltd. confirmed it has undertaken work for a duct that would link the gas-rich state of Western Australia with fuel-strapped East Coast power markets where the...Read More