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Analyst Ed Meir looks at what is moving the metals markets on Friday.
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South African black economic empowerment (BEE) investors can bid exclusively for Exxaro Resources’ 26% stake in the country’s Black Mountain Mine, a zinc and copper producer which also owns the plum Gamsberg zinc deposit in Namibia.
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Ukrainian ferro-alloys producer Privat has failed in its second attempt to prompt the country's government to launch an investigation into ferro-alloys imports, market sources told Metal Bulletin.
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The London Metal Exchange cancelled all Select trades between 11:46 hours and 13:00 hours after copper prices lost $500 per tonne in fewer than 15 seconds.
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Base metals prices improved in Friday’s pre-market trading on the London Metal Exchange as traders pinned hopes on bullish US employment data, a prospect that also brought some relief to equities
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Rio Tinto will invest an additional $2.7 billion to modernise its aluminium smelter in Kitimat, British Columbia, the company said on December 1.
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Suppliers of African cobalt concentrates to China maintain they are confident that a floor price will be established for 2012 shipments, even as many of their customers argue vehemently against a floor.
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Rallying base metals wiped out commodity trading advisers’ (CTA) October profits on Wednesday as London Metal Exchange prices added as much as 12%, leaving short positions with little chance to cover.
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Copper fluctuated around $7,800 per tonne in early Asian trading on the London Metal Exchange as market confidence wavered in the face of the European debt crisis and China’s economic slowdown.
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Baosteel Stainless has reduced its bid price for high-grade nickel pig iron by more than 11% in December, following cuts from rival Shanxi Taigang Stainless Steel.
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The majority of copper and brass service centers and suppliers believe that orders at the start of 2012 will remain on par with those of the past three months, according to a report from the Copper and Brass Servicenter Association (CBSA).
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The Institute for Supply Management’s purchasing managers index (PMI) rose 1.9 points in November to 52.7 percent based on gains in new orders, production, inventories and prices.
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A tentative labor agreement could preserve Boeing Co.’s blueprint for expanding production of its 787 Dreamliner while ensuring that manufacturing of its top-selling 737 remains in the Pacific Northwest.
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Resource company Glencore AG has increased its stake in junior miner PolyMet Mining Corp. with a $20-million share buy, the Hoyt Lakes, Minn.-based company said Thursday.
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Three-month aluminum closed below the $2,000-per-tonne mark Wednesday for the first time since July 2010, triggering a spurt of month-end activity, but sources say the momentum isn’t expected to carry into December as normal seasonality continues to keep buying at bay.
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Orbite Aluminae Inc. expects to produce smelter-grade alumina at a cost of $91 per tonne when its plant comes online in late 2013 or early 2014.
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Exploration company Copper One Inc. has signed a purchase agreement to buy Cartier Resources Inc.’s Rivière Doré copper-nickel property in Quebec for Canadian $150,000 ($148,000) in cash, 2 million of its common shares and a 1-percent smelter royalty on ore extracted from the property, according to a statement issued Thursday.
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Aluminium was the only base metal to improve in Thursday’s kerb trading on the London Metal Exchange, compared with its previous close as backwardation in the February spreads tightened.
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Analyst Ed Meir looks at what is moving the metals markets on Thursday.
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Analysts at RBC Capital Markets have lowered both their share price targets and their earnings per share (EPS) forecasts for 2011 and 2012 at Xstrata, Rio Tinto, and Glencore.
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Numis analysts have cited African Barrick Gold as one of their top stock picks for 2011 in a morning note on Thursday, on growth project potential and high gold prices.
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Base metals, with the exception of aluminium, fell in Thursday’s official trading on the London Metal Exchange as sentiment cooled after Wednesday’s short-lived rally
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Manganese and selenium prices stabilised on Wednesday November 30 after a series of capacity shutdowns in China.
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Codelco has started legal proceedings in an attempt to have Mitsubishi Corp’s acquisition of a 24.5% stake in Anglo American Sur (AAS) last month annulled.