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29.10.2007 The Dubai Gold and Commodities Exchange will begin trading steel futures today
The Dubai Gold and Commodities Exchange (DGCX) will begin trading steel futures today, a move industry experts said would allow buyers to better manage their price risk in a volatile market.
26.10.2007 China 2008 Refined Copper Imports May Plunge
China's refined copper imports, the world's biggest, may plunge next year as
domestic output increases.
19.10.2007 China metals demand seen strong for 10 years
Ongoing demand for building materials as rural China becomes wealthier will help China's base metals demand stay strong for at least a decade more
15.10.2007 Know the world of Copper Futures
Copper, as any other good or merchandise, is traded between producers and consumers. Producers sell their present or future production to clients, who transform the metal into shapes or alloys, so that downstream fabricators can transform these into different end-use products
04.10.2007 Copper Falls in Asia as Southern Copper
Copper fell in Asia as Southern Copper Corp. sought to end a strike for higher wages by workers in Peru, and as the dollar's strength damped demand from non-U.S. buyers of the metal.
26.09.2007 Russian Stocks advanced, Led by Norilsk Nickel on Mine Expansion
Russian stocks advanced, led by OAO GMK Norilsk Nickel after Russia's biggest mining company announced a plan to quadruple nickel production at a mine in South Africa.
17.09.2007 Copper Caps Weekly Gain in New York on Global Demand by China
Copper was little changed, capping a weekly gain on speculation global demand will be buoyed by China, the world's largest consumer of the metal.
06.09.2007 Copper Falls in Shanghai as U.S. Home Sales Drop Raises Concern
Copper fell in Shanghai after fresh evidence of a deepening housing slump in the U.S. raised concern that economic growth will slow in the world's second-largest consumer of the metal, curbing demand.
03.09.2007 Nickel and copper LME prices boosted by Fed comments
Nickel and copper led London Metal Exchange prices higher Friday, as traders said prices rose ahead of comments from both the U.S.Federal Reserve Chairman and President George W. Bush.
29.08.2007 Gold closes below $674 an ounce; copper pressured by inventories
Gold for December delivery fell $2.70, or 0.4%, to $673.50 an ounce on the New York Mercantile Exchange, climbing back from a steeper loss midday spurred by the Conference Board's release of its August consumer confidence survey.
24.08.2007 China's exports of steel and aluminium doubled
China's exports of steel and aluminium nearly doubled in the first half of this year even while the central government mounted a nationwide campaign to cut sales overseas of such energy-intensive products.
20.08.2007 Copper Rises as Fed Rate Cut Eases Demand Concern, Zinc Gains
Copper rose in Shanghai after a U.S. interest rate cut eased concerns that credit problems will slow economic growth and hurt demand for industrial metals.
16.08.2007 The collapse of world nickel prices disrupts stainless steel market
Decline of world nickel prices to $12/lb this week - half what the alloying metal cost in May - has disrupted the global stainless steel marketplace: Producers are trying to avoid a pricing freefall for nickel-bearing steels and superalloys despite weakened demand and lower nickel costs. Some Korean mills have even closed for a time because Asian distributors and end-use buyers are holding back on orders.
09.08.2007 Platinum Drops After South African Miners Settle Wage Disputes
Platinum fell for a third day in four in Asian trading after the world's two biggest producers of the metal settled wage disputes with South African workers, averting strikes and supply disruptions.
06.08.2007 Copper Tumbles in Shanghai on U.S. Demand Concern
Copper prices fell the most in more than two months in Shanghai amid speculation that an economic slowdown in the U.S., the second-largest consumer of the metal, will reduce demand. Zinc and aluminum futures also dropped.
27.07.2007 Moderate decline in nickel, tin and copper prices
Prices of nickel, tin and copper declined moderately on the non-ferrous metal market here today on lack of industrial demand coupled with lower advices from London Metal Exchange (LME).
23.07.2007 Copper and zinc prices are expected to cool off
Copper and zinc prices are expected to cool off, there is a major support for copper at 321 levels and they will go short if it breaks those levels, said Kaushal Jaini
09.07.2007 LME copper closes unchanged; Nickel down as inventories rise
London Metal Exchange base metals were mixed Friday, supported by stronger-than-expected U.S. non-farm payrolls data, and further gains are expected next week, said market participants.Copper gained 3.7% from the week's low, nickel stocks are up 8.8% from month-ago levels, at their highest level in over a year.
25.06.2007 Base metals prices mixed at week's close
Copper prices dropped 1.2 percent to $7,440 per tonne as worries continued that threatened strikes would materialize in Latin America. Nickel prices fell 11.3 percent to $37,600 over the week.
18.06.2007 Nickel and doom - time to sell?
Nickel producers have begun to retreat from some of their recent share price gains as a result of the commodity price fall.
13.06.2007 Gold rallies on physical demand, technical buying
On Friday, gold futures tumbled in a broad commodities sell-off, as the dollar rallied against other major currencies, damping investor appetite for metals. The metal closed down $14.90 at $650.30 an ounce, logging a loss of $26.60 on the week.
04.06.2007 LME copper rises above $7 500/t on lower inventory
Copper gained more than 2% and rose above the key $7 500 a ton level on Friday, after stocks in Shanghai warehouses showed a drop, traders said.
30.05.2007 Copper Futures Little Changed in N.Y., Paring Earlier Losses
Copper was little changed in New York, paring earlier losses after a report showed U.S. consumer confidence rose faster than forecast in May, signaling potentially stronger demand for the metal.
22.05.2007 Mittal Steel - Burns Harbor Upgrades Continuous Heat Treating Line
Upgrade brings total U.S. production capability of AHSS and martensitic steels to almost one million tons per year.
10.05.2007 Tight cobalt concs supply urges industry shakeup in China
High cobalt concentrate prices and tighter supply conditions will cause a major shakeup in the cobalt processing industry in China, an industry expert speaking at Cobalt Development Institute's Cobalt Conference 2007 said Wednesday.
07.05.2007 LME base metals climb, nickel at record high
London Metal Exchange nickel and lead charged to fresh record highs ahead of the long U.K. weekend amid speculative and fund buying across the entire complex, with strength expected to hold over the near-term, market players said Friday.
Three-month nickel touched a new record high of $51,550 a metric ton in electronic trading after the LME afternoon kerb while lead touched a new high of $2,120/ton ahead of the kerb.
03.05.2007 Gold closes lower as oil retreats, dollar gains
Gold for June delivery closed down $2.20 at $675.10 an ounce on the New York Mercantile Exchange. On Tuesday, gold futures declined $6.20 to close at $677.30 an ounce.
24.04.2007 Huasheng Aluminium constructs 50,000-ton aluminium extrusion line
Hubei-based medium-sized aluminium smelter, Press Metal Huasheng Aluminium Industry Co. Ltd. (Huasheng Aluminium), previously known as Huasheng Aluminium and Electric Co. Ltd., recently commenced construction of its 50,000-ton aluminium extrusion line, a company official told Interfax today.
16.04.2007 LME copper makes modest gains, other metals mixed
Base metals consolidated in light volumes on the London Metals Exchange Friday on position squaring ahead of the weekend and a fresh assault on the market next week. However, traders and analysts were mixed on whether the three-month copper correction has fully played itself out.
13.04.2007 China Molybdenum prices Hong Kong IPO at 5.0-6.80 hkd per share
China Molybdenum Co Ltd said it has set the price range for the initial public offering (IPO) in Hong Kong of its 1.0836 bln H shares at 5.0 hkd – 6.80 hkd per share. Based on the number of shares to be offered and the price range, the company is expected to raise as much as 7.37 bln hkd from the IPO.
11.04.2007 Japanese invested aluminium hydroxide plant to be built in Vietnam
Japanese and domestic partners submitted a project license for approval to the Ba Ria - Vung Tau provincial People's Committee in order to build a US $300 million aluminium hydroxide plant.
06.04.2007 Commercial contract for high purity silicon announced by Timminco Limited
Timminco Limited, a leading producer of specialty and light metals, today announced that its wholly owned subsidiary, Becancour Silicon Inc., has reached agreement to sell high purity silicon to a solar cell manufacturer.
The agreement provides for a minimum of 1,500 metric tons ("mt") and up to 5,000 mts over an initial term of 5 years, subject to BSI's increased production capacity and customer agreement.
02.04.2007 Base metals climb, copper at record high
Three-month copper hit a fresh year-to-date high on the London Metals Exchange on Friday amid erratic conditions as participants tidied their books ahead of the start of the second quarter Monday.
Copper rose 2.4% to hit an intra-session high of $6,935 a metric ton as recent gains attracted fresh speculative buying, a London broker said.
28.03.2007 Rusal, SUAL, Glencore merger completed
Rusal, SUAL and Glencore have closed a deal to merge their assets and set up the world's biggest aluminium company, the RIA Novosti news agency reported Tuesday quoting the companies' official statement. Viktor Vekselberg was appointed chief executive, and Alexander Bulygin was appointed director general.
26.03.2007 LME nickel ends sharply lower on profit-taking, Tin up
London Metal Exchange nickel took center stage Friday as fund long liquidation sent prices tumbling 6%, and the weakness could extend to early next week as buyers opt to stay on the sidelines, said traders.
Three-month nickel fell to a low of $42,100 a metric ton, down over 6% as fund liquidation and profit-taking ahead of the weekend and the end of the quarter next week weighed on prices, said traders. Nickel has fallen some 12% since hitting a record high of $48,500/ton last week.
22.03.2007 Copper rises as Chinese imports surge, LME stocks fall
Copper rose, underpinned by higher Chinese imports and a fall in stocks stored in LME warehouses.
China's refined copper imports rose nearly 120 pct to 148,679 tonnes in February - the highest level in two years - compared with the same month a year ago.
At 12.29 pm, LME copper for 3 month delivery was up at 6,760 usd a tonne against 6,609 usd at the close yesterday.
19.03.2007 Base metals close higher; Zinc down.
London Metal Exchange base metals consolidated after the recent gains Friday but strength should continue early next week with nickel poised to hit new highs yet again, analysts said.
Three-month nickel traded to a fresh record high of $48,500 a metric ton before retreating to a PM kerb of $47,100/ton following another LME stock drawdown. Available nickel stocks comprise less than one day's worth of global nickel consumption.
12.03.2007 China produced 35% more aluminium in January
China produced 929,600 tonnes of primary aluminium in January 2007, representing an increase of 34.7% from the same period last year, China Nonferrous Metals Industry Association announced today.
05.03.2007 Ironbark Gold rockets on Greenland zinc prospect
Shares in mineral explorer Ironbark Gold Ltd rocketed higher today after it agreed to acquire a zinc project in Greenland in a cash and scrip deal worth in excess of $20 million.
It will purchase the Citronen zinc project, which has an estimated resource of 17 million tons at 8.3 per cent zinc equivalent.
28.02.2007 Rare Earth product prices seen rising 35pc
China Rare Earth, the mainland's biggest processor of elements used in magnets and mobile phone batteries, expects prices for its products to keep rising in the coming three years amid strong demand and industry consolidation.
"As Beijing encourages the rare earth industry to consolidate, product prices could benefit from the decreasing supply as small factories are forced to shut," deputy chairman Qian Yuanying said Monday.
26.02.2007 London Metal Exchange (LME) copper and zinc. Copper jumps to a seven-week high in volatile trade.
London Metal Exchange copper and zinc both took center stage Thursday, jumping over 4% each on the day, due to technical buying and short-covering with traders expecting volatility to continue near-term.
Three-month copper surged to a seven week high of $6,140 a metric ton on electronic trade after the floor close, up from $5,260/ton seen earlier this month.
19.02.2007 Gold closes higher as energy prices recover
Gold futures closed higher on Friday, reversing early losses, as a recovery in the crude-oil market boosted demand for the precious metal.
Gold for April delivery closed up $1.40 at $672.80 an ounce on the New York Mercantile Exchange. Gold posted slight gains on the week.
13.02.2007 Baotou Aluminum net profit up 205 percent in 2006
Baotou Aluminum Industry Co. Ltd., a Shanghai-listed aluminium alloy producer, said net profit surged 205 percent to RMB 403.07 million ($51.96 million) in 2006, mainly as a result of high aluminium prices, a company official said.
Favored by the long-term supply agreement with Chalco, Baotou Aluminum was not affected by the alumina price fluctuations in 2006. Chalco's alumina prices in 2006 saw bounds between RMB 4,330 ($ 557.77) and RMB 5,650 ($ 727.81).
09.02.2007 Algoma Steel's fourth-quarter profit fell to $50.4 million
Algoma Steel's fourth-quarter profit fell to $50.4 million from a year-ago $55 million on lower volumes and weaker steel prices.
The Sault Ste. Marie, Ont., based steel maker said late Wednesday the profits amounted to $1.57 per share on sales of $418.4 million and compared with $1.38 per share on sales of $477.6 million.
31.01.2007 Aluminium being affected by non-traditional trading activity: ML
Aluminium and other base metal markets are seeing a growing number of traditional and non-traditional players using complex trading and hedging strategies for their international investors, according to Craig Tuckman, managing director of Merrill Lynch Commodities. Those strategies, as well as the growing number of "new" players, are likely to result in more price volatility.
22.01.2007 Rusal, PNG govt ink MOU to explore energy and aluminium prospects
Russian major Rusal, a top three global aluminium producer, announced Friday that it had signed a memorandum of understanding with The Independent State Of Papua New Guinea, represented by the Ministry of Petroleum & Energy, to jointly explore the potential for energy and aluminium developments in PNG, based on the country's natural gas resources.
11.01.2007 China's Yunnan Copper Group copper cathode production up 18% in 2006
China's Yunnan Copper Industry (Group) Co. said its copper cathode production rose 18% last year to 380,000 metric tons, adding that it aims to produce 40,000 tons more this year.
The company said its production of zinc rose 24% to 51,000 tons last year, while gold production rose 66% to 10 tons and silver production increased 37% to 523 tons.
05.01.2007 Hindustan Zinc reduces zinc prices
India's top zinc producer, Hindustan Zinc has reduced the zinc prices by Rs 3,200 (USD 72) a tonne to Rs 221,500 from Dec 30, 2006, reports Economic Times.
On the other hand, the company has increased the lead prices by Rs 1,500 a tonne to Rs 86,300.
25.12.2006 The EU (European Union) will cut 3% tariff on the imports of aluminium next month!
After Poland's demanded respite for the importers, EU intends to lower the
excise on pure primary aluminium, which was set at 6% for the last ten years, to
3% from January 1, 2007. The proposal of EU will be a "primary step" to
alleviate the burden on importers. The respite will be a compromise, leaving
intact the import duty on alloyed version of aluminium.
Of about 2.3 MMT ( Million Metric Tons ) of unalloyed aluminium imported by
the EU last year, nearly one Million Tons were subject to 6% duty. Most of the
imports in that year came from Russia. Respite for Poland over import tax on
aluminium could help in resolving a separate Russia-EU trade issue, say
experts.
18.12.2006 Uzbekistan Jan-Oct copper output down
Uzbekistan produced 75,735 tonnes of cathode copper in January-October, down from 86,050 in the same 2005 period, the Central Asian state's sole copper and zinc producer said on Thursday.
The Almalyk Mining and Metallurgical Plant, located near the capital Tashkent, produced 40,268 tonnes of zinc in the first 10 months of the year, compared with 33,324 in the same 2005 period.
14.12.2006 Global zinc deficit increases in first 10 months
The global zinc market deficit widened further in the January-October period and stood at 320,000 metric tons, up from 304,000 tons last month, the International Lead and Zinc Study Group said Wednesday.
11.12.2006 Australia's Indophil says Xstrata stake option on Philippine mine put on hold
Australian mining firm Indophil Resources Ltd said Xstrata Queensland Ltd's copper business unit, Xstrata Copper, has decided to put on hold its option to acquire a 62.5 pct interest in the Tampakan gold-copper project in the Philippines.
Instead, Xstrata has committed to Indophil to solely fund the 30-mln-aud, final pre-feasibility study of the Tampakan copper-gold vein in Mindanao, which should be completed in late 2007 or early 2008, said Indophil managing director Tony Robbins.
04.12.2006 LME aluminium closes almost 3% higher; Copper down
Three-month aluminium and lead were star performers at the London Metal Exchange Friday, climbing to over two-week highs on technical buying and weakness in the U.S. dollar, and look poised to extend those gains in the near future, analysts said.
Meanwhile, copper prices fell by over 1% but are still hovering near key technical levels including the 200-day moving average of $7,015.07 per metric ton and the psychological $7,000/ton price level.
The fall in copper followed a report showing the U.S. manufacturing sector contracted in November.
The euro broke through the $1.33 mark Friday, hitting a fresh 20-month high, as the Institute for Supply Management index declined to 49.5 in November, versus a reading of 51.2 in October and against an expected reading of 52.0.
29.11.2006 Chile: Codelco to mull three expansion opportunities at Ventanas
Chilean state copper company Codelco is evaluating three expansion scenarios at its Ventanas smelter, one of which would require investment of some US$1bn, a company spokesperson told BNamericas.
"The largest expansion scenario would reach US$1bn and contemplates increasing the smelting capacity of Ventanas so that it can process more copper concentrates and white metal from El Teniente [mining division]," the spokesperson said in an email.
27.11.2006 Zinc discovery at Prairie Downs: shares up 5% on news
WA-based zinc explorer, Prairie Downs Metals announced the discovery of a new zinc lode at its Prairie Downs project yesterday.
The project hosts total mineral resources of one million tonnes, at a grade of 8.3% zinc, 1.7% lead and 22g/t silver. The company's immediate objective is to increase this existing resource to two million tonnes at a similar grade.
23.11.2006 LME copper ends lower on investor selling; Zinc rises
Fresh trade and institutional investor selling pushed London Metal Exchange copper back into negative territory after an initial move higher, with only zinc holding on to gains, analysts said Wednesday.
Technical tightness added to enduring fundamental strength in the zinc market, pushing the cash-to-three month spread out to $52.50 a metric ton backwardation, up from $34/ton Monday.
20.11.2006 China's copper imports may rise to 1 million tons in 2007
China's copper imports may rise to 1 million metric tons in 2007 if the State Reserve Bureau stops selling copper from its stocks, with end user inventories currently at a low level, said an industry official Thursday.
The decline in copper imports so far this year has been largely due to rising domestic output and the SRB's sales, said Jiao Jian, general manager of the copper department of China Minmetals Nonferrous Co., a nonferrous metals trader under China Minmetals Corp.
China's copper cathode imports fell 42% on year to 592,116 tons in January-to-September. Copper rods and wires are manufactured from slabs of copper cathode.
13.11.2006 Copper may gain next week on speculation shortage will worsen
Copper may rise next week on speculation that disruption to supplies from Zambia, Africa's largest producer of the metal, will exacerbate a shortage.
Eight of 14 analysts, investors and traders surveyed by Bloomberg yesterday forecast copper will advance. Four expect a decline and two little change. Vedanta Resources Plc suspended production at a plant at its Konkola Copper Mines unit on Nov. 6 after it leaked waste into a river. The global copper shortfall will extend into next year, Credit Suisse Group said on Nov. 2.
07.11.2006 Gold ends lower, fails to break $630 level
Gold futures closed lower Monday after failing to break the $630-an-ounce level, but traders were unwilling to lodge a full retreat from last week's gain of nearly 5% on the eve of the U.S. elections.
Moves in the U.S. dollar provided little guidance for gold's next direction, with the greenback trading higher against the yen, but weakening slightly against the euro.
30.10.2006 African Copper announces initial drilling results
The drill results presented here include 4.18% copper and 45 g/t silver over 25.85 metres and 2.10% copper and 11 g/t silver over 24.91 metres at Thakadu. Approximately 900 metres to the west, a single drillhole returned 1.78% copper and 20 g/t silver over 8.15 metres. Further to the west, another drill hole returned 2.15% copper and 48 g/t silver over 12.18 metres. These drill holes cover approximately 2000 metres of strike extent. These results are from a twin-hole drill programme designed to verify historic results from exploration programmes conducted by other companies over the past 40 years. Specific drillholes were selected for twinning such that a wide variation in grades, thicknesses of mineralized horizons, depth of intersections and strike extent could be tested. Drilling is on-going and further results will be released when they become available.
26.10.2006 LME: Copper falls again; Zinc and lead at record high
London Metal Exchange zinc and lead rallied to fresh record highs Wednesday, eclipsing last week's all-time highs after sharply higher oil prices boosted sentiment, analysts said.
Sentiment on zinc took a bullish turn after another sizable LME stock fall, down 1,750 metric tons to 115,600 tons, supporting prices at $3,930/ton, basis three-month, up $35/ton on the Tuesday PM kerb.
LME lead's rally in the afternoon to a record $1,585/ton, up 3.5%, in turn helped push zinc prices, alongside oil rising above the $60-a-barrel level following data showing a stronger-than-expected draw on U.S. oil inventories.
The zinc and lead markets may also eye a decision on nationalization of zinc, silver and tin mines in Bolivia expected for Oct. 31, UBS analyst Robin Bhar said.
23.10.2006 Full steam ahead!
Global aluminium giant Alcoa is busy seeking parallel development opportunities across both the up and downstream of the aluminium industry, while fuelling the construction and expansion of existing facilities in China.
20.10.2006 Chicago White Metal signs alliance agreement with Advanced Magnesium
Advanced Magnesium Limited's wholly owned subsidiary, AMT, has signed a fifth alliance Agreement. Chicago White Metals (CWM), a leading US diecaster, has committed to developing a range of electroplated applications for its customers using AMT's new proprietary magnesium alloy, AM-lite.
16.10.2006 China's annual silver demand will hit 3000t by 2010
The vice secretary-general of China's General Chamber of Commerce recently told silver experts that as the nation's economy develops, China's annual demand for silver will reach 3,000 tonnes by 2010. Current world mine supply is around 20,000 tonnes.
11.10.2006 Amur Minerals says results at Maly Krumkon significantly exceed expectations
Amur Minerals Corporation said results from its Maly Krumkon mineralised zone have significantly exceeded expectations.
In a resource estimate prepared by SRK Consulting, the drilled area of the Maly Krumkon zone contains 50,000 tonnes of nickel and 15,000 tonnes of copper.
09.10.2006 LME copper, nickel erase earlier gains
The London Metal Exchange complex put in a steady performance at the start of LME week in London but erased most of the gains to end more or less unchanged on day on profit-taking, traders said Monday.
07.10.2006 Copper may fall next week as U.S. housing slowdown curbs use
Copper may drop next week on speculation a slowdown in U.S. housing demand will curb consumption in the world's second-largest user of the metal.
02.10.2006 Magnesium Intl unit in MoU to explore, supply magnesite in Egypt
Magnesium International Ltd said its Egyptian subsidiary EMAG has signed a memorandum of understanding with Egyptian government-owned mining company El Nasr Mining Co (ENMC) to explore magnesite at Sul Hamed in the far south-eastern region of Egypt.
29.09.2006 Bankruptcy court approves aluminium producer Ormet's settlement
Aluminium producer Ormet Corp. will reimburse the United Steelworkers union $250,000 for legal fees under a settlement approved Thursday by a federal bankruptcy court in connection with the company's bankruptcy filing in early 2004.
27.09.2006 Gold futures close at a two-week high
Gold futures rose Tuesday as strong overseas demand for the precious metal combined with the end of European central bank sales, lifting the benchmark gold futures contract to its highest level in two weeks.
"While some more backing and filling is possible, gold has once again withstood a sharp and violent correction – a trademark pattern in secular bull markets," said Peter Grandich, editor of the Grandich Letter.
25.09.2006 New Nickel Discovery
Emerging Australian nickel producer, Allegiance Mining NL is pleased to announce the discovery of a new nickel sulphide deposit called Saxon in drillhole A161 at a location some 800 metres east of the Avebury Nickel Mine and 150 metres south of the East Avebury prospect.
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