Strong tailwinds for gold’s excursion into uncharted territory
Geopolitical tensions, uncertainty created by the upcoming US Presidential election and prospective interest rate cuts look set to help power gold prices, already at records above $2,500 an ounce, to even loftier levels.
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BHP strike in Chile enters third day
A strike at mining giant BHP’s huge Escondida mine in Chile entered its third day on Thursday, bolstering global copper prices as an ongoing standoff between the company and workers starts to spread worries about supply of the red metal.
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Pilbara Minerals looking to double lithium production
Pilbara Minerals is aiming to significantly increase its lithium production capacity to two million tonnes per annum in the years ahead.
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Copper price edges down to two-week low amid demand uncertainty
Copper edged down to a two-week low in choppy trading, amid uncertainty over supply and demand in China and weakness in equity markets.
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Iron ore price at 4-week high on firm near-term demand, China stimulus hopes
Iron ore futures prices rose for a fourth straight session on Wednesday to their highest level in four weeks, supported by firm near-term demand in top consumer China and lingering expectations of more stimulus in coming weeks.
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Strong copper price reviving Peru’s mining mojo
Peru’s dented mining mojo, hit by years of political turmoil in the Andean country, is being buoyed by strong copper prices and a bullish outlook they will rise further, helping lure back investor interest, the country’s mining minister said on Friday.
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Near record high LME prices a magnet for Chinese copper exports
China’s copper producers are planning to export up to 100,000 metric tons of metal, the largest volume in 12 years, aiming to cool a rally that has propelled prices towards record highs and hit their order books, three industry sources said.
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Copper price hits fresh 14-month high on supply fears, China optimism
Copper jumped to its highest intraday price since January 2023 as the bellwether industrial metal faces rising tighter supply and hopes for a recovery in Chinese demand.
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Bearish demand expectations challenge iron ore’s price resilience
Iron ore prices, long resilient despite China’s gloomy economic outlook, have tumbled since the end of the Lunar New Year holiday, sparking concerns around faltering demand and denting mining stocks in top producer Australia.
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Aluminum price jumps after report EU may sanction Russian metal
Aluminum rallied in London after Politico reported that the European Union is considering sanctions on Russian aluminum ahead of the second anniversary of the invasion of Ukraine.
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Higher investment risk appetite boosts activity at LME by 11% in 2023
Average daily volumes at the London Metal Exchange (LME), the world’s largest and oldest metals forum, gained 11% to 593,537 lots in 2023 with lead volumes surging by 46%, the exchange said on Thursday.
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London gold price benchmark breaks all-time high, LBMA says
Mining News Pro - London’s gold price benchmark hit an all-time high of $2,069.40 per troy ounce at an afternoon auction on Wednesday, surpassing the previous record of $2,067.15 set in August 2020, the London Bullion Market Association (LBMA) said.
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Tighter supplies to create tailwind for copper prices
Mining News Pro - Mine closures and disruptions have rapidly changed the landscape for copper supplies and prompted analysts to lower their forecasts for surpluses in a positive signal for prices of the industrial metal.
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Visit: 162
Gold price retreats from record as aggressive Fed pivot bets cool off
Mining News Pro - Gold prices retreated from a record high on Monday amid signs that the market’s aggressive pricing of US Federal Reserve rate cuts may have gone too far, which analysts believe was unsustainable.
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Major Chinese copper trader sees glut weighing on prices in 2024
Mining News Pro - The global copper market will face a glut next year, according to one of China’s biggest traders of the metal, which will likely lead to further declines in the commodity that’s vital to the energy transition.
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Iron ore price logs second weekly gain on China stimulus, sound fundamentals
Mining News Pro - Iron ore rose for a second consecutive week, underpinned by stimulus-related optimism and supportive fundamentals in top consumer China, although gains narrowed on Friday on fear of possible government supervision.
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LME copper stockpiles rebound to highest in nearly two years
Mining News Pro - Copper inventories on the London Metal Exchange reached the highest level in nearly two years, continuing a rebound that’s taking the strain off buyers after years of chronic supply constraints.
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LME copper stocks rise to two-year high as demand falters
Mining News Pro - Copper stockpiles immediately available to withdraw from the world’s top metals bourse hit the highest in almost two years, adding to evidence of flagging demand.
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Copper price rises as China factory activity expands
Mining News Pro - The copper price rose on Friday after Beijing delivered a boost for China’s property sector, while a private survey pointed to a pick-up in the country’s manufacturing sector.
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Copper price set for weekly loss as China concerns sap confidence
Mining News Pro - Copper headed for a third straight weekly loss — tracking a broad slide in global risk assets — as concerns about China’s economy and widening housing crisis put markets in bearish mood.
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LME’s proposal on coarse nickel powder needs more work on packaging
Mining News Pro - gathered for potential acceptance of coarse nickel powder as a LME nickel deliverable material was broadly supportive but pointed out challenges regarding the packaging.
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Visit: 245
Copper price lowest in 3 months on weak economic data out of China
Mining News Pro - Copper prices fell on Friday after data demonstrating the sluggish nature of China’s post-pandemic recovery.
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Iron ore price slump widens as China demand concerns mount
Mining News Pro - Iron ore futures slumped on Thursday on fresh concerns about China’s steel production curbs and recovery prospects for the struggling domestic property sector, with sentiment further dampened by flooding in the top steelmaking province of Hebei.
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Cochilco cuts 2023 copper price forecast to $3.85/lb
Mining News Pro - The Chilean Copper Commission (Cochilco) on Wednesday lowered its forecast for the average copper price in 2023 to $3.85 per pound amid doubts about international economic performance.
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Hydro says Russian metal threatens LME benchmark, Rusal hits back
Mining News Pro - The London Metal Exchange should reconsider a decision not to ban Russian aluminum from its warehouse network as large volumes are jeopardizing the benchmark status of its contract, producer Norsk Hydro said in a letter this week.
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