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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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: 143
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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Gallium price jumps as buyers lock in supply before China export controls
Mining News Pro - Global gallium prices jumped 27% this week as buyers reacted to China’s move to control exports of the niche metal used in an array of high-tech industries.
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Anglo American reshuffles its leadership
Mining News Pro - Anglo American has announced several changes to its senior management team and organisation.
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Tin prices rise on Myanmar supply worry
Mining News Pro - Tin prices rose on Thursday on renewed concerns about plans by a major tin producing region in Myanmar to suspend mining later this year.
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Aluminum trader’s huge LME position ignites battle for stock
Mining News Pro - One of the world’s biggest metals traders has built up a dominant position in one part of the London Metal Exchange aluminum market, creating a squeeze on exchange stocks and putting focus on the availability of non-Russian metal.
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China’s property pain deflates ‘overhyped’ iron ore market
Mining News Pro - After a bullish start to 2023, iron ore is struggling with the reality that China’s property sector — the steelmaking material’s largest demand driver for two decades — is still far from a robust recovery.
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Iron ore price mixed as steel group urges producers to cut output
Mining News Pro - Iron ore prices were mixed on Wednesday while a China steel industry group urged producers to curb output to stay afloat.
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Visit: 141
Iron ore price extends decline as China demand slumps
Mining News Pro - The iron ore price was the lowest since November on Monday as weak steel demand in China prompted a production slowdown.
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Visit: 161
Gold price falls below $2,000 as market readjusts rate hike expectations
Mining News Pro - Gold prices retreated below the key $2,000 level on Wednesday as the US yields marched higher, with investors turning skeptical over potential rate cuts later this year.
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Visit: 154