Build-up a blow to base metals

By Staff reporter / February 17, 2020 / www.mining-journal.com / Article Link

North American markets are closed for public holidays today.

Base metals all finished the week lower on the London Metal Exchange.

"The entire complex finishes in the red in part due a build-up in exchange inventories in Shanghai," Marex Spectron's Dee Perera said.

She said copper inventories in the Shanghai Futures Exchange warehouses jumped 27%, to levels not seen since March 2019.

Gold is on the rise, around US$1,584 an ounce on the spot market, and last week hit all-time highs in terms of the Euro and yen.

Among the diversified miners, Rio Tinto (LSE: RIO) closed 0.5% lower in London on Friday, Teck Resources (TSX: TECK.B) lost 3.9% in Toronto and BHP (ASX: BHP) was down 0.6% at the time of writing.

In the gold space, Barrick Gold (TSX: ABX) gained 3.9% on Friday, Newmont (NYSE: NEM) rose 0.1% and Australian producers Regis Resources (ASX: RRL) and Saracen Mineral Holdings (ASX: SAR) were up 6.3% and 3.6% respectively in morning trade.

Recent News

Largest gold producers see strong Q3/25 earnings

November 17, 2025 / www.canadianminingreport.com

Gold stocks jump on gain in metal price

November 17, 2025 / www.canadianminingreport.com

AOCE and WB boost gold targets for 2025 significantly

November 10, 2025 / www.canadianminingreport.com

Gold and silver price ETFs see major net outflows

November 04, 2025 / canadianminingreport.com

Gold stocks decline by less than metal price

November 04, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok