Gold built on last week's gains on Monday rising 1.5% in heavy volume as investors seek a safe haven amid a widening trade war unleashed by US President Donald Trump.Gold for delivery in August, the most active futures contract, reached a high of $1,333 an ounce, the highest 10 weeks with over 33m ounces changing hands in New York by early afternoon.Trump's plan to impose a 5% tariff on all Mexica...Read More

Troubled UK long steel producer British Steel entered compulsory liquidation on May 22. Fastmarkets examines the reasons behind the company's recent struggles, from uncertainty about Brexit and a slump in orders, to rising costs for raw materials.Brexit uncertaintyThe future of British Steel remains uncertain, with the UK's Insolvency Service approaching "more than 80 potential trade purchasers" t...Read More

Gold stocks now have their best chance in months to rally.Major improvement in gold's internal momentum profile is the reason.Gold could also follow the XAU's lead higher at some point next month.One of the things which held gold back from rallying in May was the extreme liquidation of gold mining shares. The past two months was indeed a bad time to be a holder of gold stocks, as the PHLX...Read More

Investing.com - Gold prices rose on Monday in Asia amid worries over Mexico and escalating trade tension between China and the U.S.Gold futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, was up 0.4% at $1,316.45 per ounce by 12:45 AM ET (04:45 GMT).The Trump administration announced on Thursday it will impose a 5% tariff on all imported goods from Mexico b...Read More

Zinc's three-month price on the London Metal Exchange continued to move downward at the close of trading on Monday June 3, with market participants indicating a corrective price move.At the same time, commodity investment remained subdued on the threat of new tariffs to be imposed on Mexico by the United States.Volumes traded in the galvanizing metal reached their highest level since April 16, wit...Read More

The seaborne coking coal market softened further on Monday June 3 after a series of cargoes were sold to China.Two cargoes of premium low-vol hard coking coal, with laycan scheduled for June and July, were traded at $206 per tonne cfr China and $203 per tonne cfr China respectively, according to various market sources.A June-loading shipment of premium mid-vol materials was also traded at $203.18...Read More

China's rebar prices largely softened on Monday June 3 amid a gradual drop in demand. Domestic Eastern China (Shanghai): 3,940-3,980 yuan ($570-576) per tonne, unchangedNorthern China (Beijing): 3,850-3,900 yuan per tonne, down 30-50 yuan per tonneWarmer weather in northern China led to demand for rebar in that region falling over the past few days.A price drop in Tangshan's billet market over the...Read More

Silver has lost nearly two-thirds of its value in the past 8-years. Is the bear market in Silver about to end? What Silver does at (2) will go a long way to answering this question!Silver has spent the majority of the past couple of decades inside of rising channel (1). It hit the top of this channel and its 1980 highs in 2011, where a major peak took place.The 8-year decline in Silver has it curr...Read More

The seaborne and port prices for low-grade manganese ore weakened over the pricing week, with inventories reaching a new record high and poor demand in the week to Friday May 31. Ore prices in China fall China alloy prices increase Alloys stable in Europe, United States Silico-manganese falls in IndiaMarket negativity stemmed from the high inventories and a cautious stance among buyers, which cont...Read More

Logistics and warehousing firm C.Steinweg has been approved by Multi Commodity Exchange Clearing Corporation (MCXCCL) as a storage facility for its physically settled base metals contracts effective June 4.MCXCCL, a wholly owned subsidiary of Multi Commodity Exchange of India (MCX) said on Monday in a circular, Steinweg Sharaf (India) has been registered to store and effect delivery of aluminium,...Read More

Vedanta Resources Ltd., owned by Indian billionaire Anil Agarwal, said it's seeking international arbitration to resolve a dispute with the Zambian government about its copper assets in the country.Zambia's government this month began liquidation proceedings against Vedanta's Konkola Copper Mines, after accusing Vedanta of lying about expansion plans and paying too little tax. The company says it...Read More

Foreign loans that use minerals as collateral may complicate Zimbabwe's future negotiations with foreign creditors to restructure its $8.8 billion debt, an International Monetary Fund official said on Monday.Unable to get funding from lenders like the IMF since defaulting on its debt in 1999, Zimbabwe has over the last five years relied on the African Export and Import Bank (Afreximbank) for miner...Read More

A worker at Codelco's El Teniente operation was hit by a rock and died on Sunday, Chile's state miner informed.In a media statement, the world's No.1 copper producer lamented the passing of 58-year-old Pedro Enrique Mena Bolvar??n, who belonged to the company's Mining Division.According to Codelco, the causes that prompted the rock to fall down at the Pilar Norte mine are under investigation."As s...Read More

Fastmarkets will roll over its Turkey domestic ferrous scrap prices on Monday June 3 because the country extended the Eid al-Fitr public holiday to last the entire week of Monday June 3 to Friday June 7. The holiday had originally been scheduled to begin on Tuesday June 4 this year. The prices affected are Turkish domestic auto bundle scrap in lira per tonne delivered and Turkish domestic mel...Read More

Here are five Fastmarkets MB stories you might have missed on Monday June 3 that are worth another look.In copper, Chile's state-owned producer Codelco halted part of its operation at the El Teniente mine following an accident on Sunday June 2. Separately, Aurubis has entered into a long-term supply contract with Teck Resources to source concentrates over a 10-year period from the s...Read More

Key data from the June 3 pricing session in London and Shanghai. Key drivers:  Fastmarkets' daily fob Australia alumina index stabilized just above $360 per tonne amid recent steady buying interest from China, where buyers have been covering units required as...Read More

The lead import arbitrage in China re-opened in May causing lead concentrate imports to rise and lead concentrate treatment charges (TCs) to tumble, while spot terms for zinc concentrates stabilized. Fastmarkets' TCs index for low-silver lead concentrates dropped to a 19-month low of $5-15 per tonne on a cif China basis on Friday May 31, from $15-35 per tonne at the end of April. Several deal...Read More

Aurubis has entered into a long-term supply contract with Teck Resources to source copper concentrates over a 10-year period from the second phase of Teck's Quebrada Blanca (QB2) open-pit project in the Tarapac?? Region of Chile, Fastmarkets learned.German copper producer Aurubis will garner a 'significant amount' of copper concentrates over the period, while the QB2 mine is set to initiate mining...Read More

Employees at the Chuquicamata division of Codelco have continued to work while trying to secure a deal with the company, despite having voted for industrial action, the three workers' trade unions involved said on Saturday June 1.The unions began negotiating with Chilean state-owned copper producer Codelco's representatives on May 31, with Chilean labor authorities mediating the talks. The strike...Read More

Denison Mines of Toronto is ready to begin the rigorous environmental impact assessment of its 90% owned Wheeler River in situ uranium project in the Athabasca Basin.Both the Canadian Nuclear Safety Commission and the Saskatchewan Ministry of Environment have accepted the Wheeler River provincial technical proposal and federal project description.Denison has also said that it has executed a number...Read More