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 […]
The results of the survey by the London Bullion Market Association of analysts predicts gold price in 2019 to touch $1,400 an ounce. The LBMA, a standard setting body for the industry, says the average forecast by the 30 analysts polled calls for a modest 1.8% gain in the price this year. However, two-thirds of the analysts […]
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 […]
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 […]
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 […]
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 […]
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 […]
Zinc was the best-performing LME metal in 2016, reaching multi-year highs. The base metal touched a nine-year peak of $2,985 in November, leading the metals rally, with a growing demand from China and speculations about the then incoming US President Donald Trump’s infrastructure plans supported the steepest climb for the metal since 2009. The speed […]
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 […]