Iron ore is tight and will pass $100 test in 2024

Iron ore will average more than $100 a ton this year as the worldwide market remains tight, despite China’s property crisis hurting the outlook for steel demand there, according to HSBC Holdings Plc.

Base metals drop as investors weigh Fed path, China consumption

Base metals declined after the Federal Reserve pushed back on interest-rate cut expectations and as investors weighed the demand outlook in top consumer China before the Lunar New Year holiday this month.

Iron ore price consolidates as traders ponder demand outlook

Iron ore futures were in a tight range on Monday, with the Dalian benchmark ticking up and Singapore prices receding, as investors pondered the demand outlook in the absence of an expected monetary easing in top consumer China.

LME faces fresh worries about Russian metal after UK sanctions

Mining News Pro - New UK sanctions on Russian metals have caused confusion among traders and raised fresh worries that the London Metal Exchange could be overwhelmed by a glut of unwanted Russian aluminum.

Iron ore price falls after China policy meet disappoints on stimulus

Mining News Pro - Iron ore fell after a widely-watched government policy meeting in China finished without any major new stimulus pledges.

Palladium price drops below $1,000 as demand from key car sector wanes

Mining News Pro - Palladium dropped below $1,000 an ounce for the first time in five years as demand falters amid a slowdown in car sales, the rise of electric vehicles and as users switch to cheaper platinum.

JPMorgan sees gold price charging to records in 2024 as Fed cuts rates

Mining News Pro - JPMorgan Chase & Co. sees an opportunity in gold ahead of a likely US recession, predicting prices will push past $2,000 an ounce by year-end and hit fresh records in 2024 as interest rates start to fall.

London aluminum, zinc on track for best week since January

Mining News Pro - Aluminum and zinc prices in London were heading for their biggest weekly gain since January, as a weaker dollar made greenback-priced metals cheaper to holders of other currencies.

Mining veteran Mick Davis raises $590 million for metals fund

Mining News Pro - Mining veteran Mick Davis’s investment firm raised $590 million as the dealmaker steps up his hunt for the metals needed for the energy transition.

Currency markets wobble after Credit Suisse deal as Fed remains acid test

Mining News Pro - Currency markets fluctuated amid thin volumes after Switzerland brokered a rescue of Credit Suisse Group AG, with traders weighing the deal’s impact on the Federal Reserve’s monetary-tightening path.

AQR leads 10 hedge funds suing LME over nickel trade debacle

Mining News Pro - AQR Capital Management formally filed a London lawsuit against the London Metal Exchange, joining nine other hedge funds in a series of claims targeting the exchange’s decision to cancel billions of dollars in nickel trades last year.

Harmony Gold says profit boosted by better metal grades and prices

Mining News Pro - South Africa’s Harmony Gold expects profit for the six months to Dec. 31 to have risen by as much as 30%, it said on Thursday, with higher metal grades and prices offsetting increased production costs.

Harmony Gold says profit boosted by better metal grades and prices

Mining News Pro - Harmony Gold expects profit for the six months to Dec. 31 to have risen by as much as 30%, it said on Thursday, with higher metal grades and prices offsetting increased production costs.

Historically low stocks behind spike in zinc price for delivery tomorrow

Mining News Pro - Prices of London Metal Exchange (LME) zinc for delivery tomorrow traded at a large premium on Monday over prices for the following day due to buying fuelled by nervousness about availability in the LME system as stocks hit historic lows.

Banning Russian aluminum would create uncertainty about LME’s role

Mining News Pro - Banning Rusal’s metal will fuel volatility in the London Metal Exchange’s aluminum contracts and create uncertainty about the exchange’s role in the metals industry, the Russian aluminum giant said in a letter seen by Reuters.

Gold price near ‘danger zone’ as dollar

Mining News Pro - Gold steadied after a two-day decline as traders eyed the soaring dollar and a surge in Treasury yields amid expectations of further monetary tightening by the Federal Reserve.

Iron ore price rises as China cuts lending benchmarks

Mining News Pro - The iron ore price rose on Tuesday after China cut benchmark lending rates and lowered the mortgage reference by a bigger margin in a move to support its property market.

LME nickel volumes plunge with exchange still hostage to March trading fiasco

Mining News Pro - The volume of nickel traded on the London Metal Exchange (LME) dropped more than 40% in July as funds, consumers and producers continued to shun the market – months after trade was suspended for more than a week in March as prices dramatically spiked.

Copper price near 6-week high on softer than expected US inflation

Mining News Pro - The copper price rose on Thursday to the highest in nearly six weeks, helped by easing demand worries after US inflation data came in softer than expected.

Aluminum price pulls back on concern about Chinese construction demand

Mining News Pro - Aluminum and copper prices slipped on Wednesday on worries about declining demand after data from top metals consumer China highlighted a weak construction sector.

China July copper imports rise on-year as price slump spurs buying

Mining News Pro - China’s imports of copper rose 9.3% from a year earlier, customs data on Sunday showed, as a sharp drop in the price of the metal triggered buying appetite amid falling domestic inventories.

Gold price rises to four-week high ahead of fresh US economic data

Mining News Pro - Gold rose to the highest since early July as investors waited on fresh data to be released on the state of the US economy and the potential pace for interest rate hikes.

Glencore flags cash tied up in record trading profits

Mining News Pro - Glencore Plc, on course to report it best ever trading year, has flagged that those profitable bets have tied up more working capital than normal.

Rio Tinto, Fortescue record profits near end on price view

Mining News Pro - Australian iron-ore miners Rio Tinto and Fortescue Metals Group are unlikely to see a repeat of record profits booked in recent years as they face soaring costs, falling prices and a tight labor market.

Gold price set for longest run of weekly losses since 2018

Mining News Pro - Gold is heading for its fifth weekly loss, the longest streak of such declines in almost four years, with haven credentials sidelined by investors becoming super-bullish on the US dollar.

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