Base metals surged higher early this week, with copper rallying above $ 9,000 a tonne on estimation that increased demand driven by the recovery from the pandemic will spur a historic deficit, putting the economic bellwether on course for a record run of monthly gains. Nickel topped $ 20,000 a tonne. Copper climbed as much […]
The closure of Sterlite Copper’s Tuticorin plant, which once accounted for nearly 40% of India’s copper output, had been forced by vested interests that did not want the country to become self-sufficient in the critical industrial metal, the company’s chief executive officer said in an interview. The plant was shut down in 2018 following a police firing that […]
During the current fiscal, 2020-21, very few non-coal mining leases were allotted. Compared with 43 blocks successfully auctioned in 2019-20, only six leases could be auctioned out so far in the current fiscal, data from the ministry of mines showed. Since the time mining allocation was made mandatory through the auction route in 2015, a […]
Myanmar’s military coup and declaration of a state of emergency has sparked concern in neighbouring China over metal and mineral supplies amid already high tin, copper and rare earth prices. China, the world’s top metals consumer, imports a lot of metals and minerals from Myanmar. Top of Form Tin Myanmar is the world’s third-biggest miner […]
London copper prices are hovering around an eight-year high as a weaker dollar lent support, but trading was thin due to the Lunar New Year holiday in China. The three-month copper contract on the London Metal Exchange dipped 0.1 per cent to $ 8,289 a tonne, rebounding from a 0.7 per cent fall earlier in […]
As we enter 2021, many mined commodity prices are riding high after recovering from a dramatic pandemic-induced slump in the first half of 2020. The new year, however, raises new questions. How will Chinese policy affect supply and demand in 2021? Will the growing rhetoric around decarbonisation be followed up with concerted global action? And […]
Copper hit its lowest in over a month as investors sought safety in the dollar due to rising coronavirus cases and lockdowns in large economies, pressuring metals priced in the greenback. Benchmark three-month copper on the London Metal Exchange (LME) fell 0.7 per cent to $7,765 a tonne, its lowest since Dec 23. The prospects […]
A rise in the price of copper is likely to continue in 2021 on low inventories and a bullish demand narrative, though at a slower pace, industry analysts said. The red metal has found support on the back of upcoming elections and labor negotiations in Chile and Peru, an anticipated rebound of the global economy, […]
As mineral and metal prices, production and consumption improve this year amid a broader and deeper economic recovery from the pandemic, the outlook for miners and metal players is positive, says research agency Fitch Solutions. It notes that this year will see a mix of traditional trends playing out and the acceleration of some relatively […]
The total volume of iron ore dispatched to global destinations from Australia and Brazil was 29.7 million tonnes in December, the highest since June 2019, according to a survey from Mysteel. Iron ore shipments from ten Australian ports bound for global destinations hit 21.7 million tonnes, and the tonnage shipped from Brazil’s nine ports to reach […]
