Global copper deficit estimated at 390,000 tonnes in 2018: ICSG

The International Copper Study Group (ICSG) recently released its copper report covering 2018, which estimated a global refined copper deficit of 390,000 tons in 2018. According to the ICSG report, world mine production increased by an estimated 2.3% in 2018. “The increase in world mine production of about 460,000 t copper was principally due to […]

Read more

Over 100 mineral blocks in India ready for online auctions, says mines minister

As many as 100 virgin mineral blocks across the country are ready for online auctions, said Union minister for mines, rural development, parliamentary affairs and Panchayati Raj Narendra Singh Tomar. “So far, 53 mines have been auctioned. The electronic auction of these assets has brought in incremental revenue of Rs 1.43 trillion to states. The additional revenue […]

Read more

US lifts Rusal sanctions; aluminium prices fall; supply to increase

The US government’s widely expected decision late Sunday to lift sanctions on Russia’s UC Rusal, one of the world’s biggest primary aluminum producers, led to a noticeable fall in the LME primary aluminum price. Traders are pointing to the possibility of bigger falls in future, as it is unclear how quickly material stockpiled at Rusal […]

Read more

Daily Masala

Here is what others are talking about this morning: Dollar drops on Fed’s inflation; Asia stocks rise Oil prices ease, but near eight-week highs on lower U.S stocks Thyssenkrupp CEO keen for Tata steel merger deal before end-September: sources Pepper, cumin, thyme get global norms India relaxes rules of Gold Bond Scheme to attract more […]

Read more

London Metal Exchange set for wide-ranging reforms with its new chief executive

Hong Kong Exchanges and Clearing Limited (HKEX) and the London Metal Exchange (LME), a wholly-owned subsidiary of HKEX, announced the appointment of Matthew Chamberlain as Chief Executive of the LME effective immediately subject to the approval of the Financial Conduct Authority (FCA) of the UK. Chamberlain will remain on the LME Board and will continue […]

Read more

Chinese data, strikes bring copper price back to boil

Copper continues to gain on the back of upbeat economic data from China and labour disruptions at the world’s biggest mines. In New York, the prices for delivery for May touched $5,843 a tonne. The Statistics Bureau of China said on Tuesday industrial production led by the steel industry jumped 6.3% in January and February of 2017 (released together to smooth out […]

Read more

World Gold Council, LME and others to launch suite of exchange-traded products

The World Gold Council (WGC) and the London Metal Exchange (LME), together with Goldman Sachs, ICBC Standard Bank, Morgan Stanley, Natixis, OSTC and Societe Generale, said they planned to introduce a suite of exchange-traded and centrally-cleared precious metals products. The initiative has been driven by the need for greater market transparency, to support and aid […]

Read more