Mineral Resources

Ford Motor raised its annual guidance by $500 million on Wednesday, thanks to significant tariff refunds. However, it said it still faced rising material costs as it worked to source aluminum for the?lucrative F150 pickup trucks. Ford Motor Company received $1.3 billion of relief from the U.S. Supreme Court's February ruling that invalidated some Trump Administration tariffs. Ford booked a gain in the first quarter on the expected refund, which boosted its bottom line. However, the company acknowledged that it is uncertain how quickly the government will reimburse them. Ford's guidance was raised by less than the refund amount, as...

Gold prices dipped on Wednesday as investors awaited comments from U.S. Federal Reserve chair Jerome Powell to assess the economic impact of the Iran War. As of 0740 GMT spot gold fell 0.4% to $4,574.26 an ounce after dropping to its lowest level in April 2 the previous session. U.S. Gold Futures for June Delivery?fell by 0.4% to $4,579.70. Brent crude oil soared above $112 per barrel following reports that the U.S. would extend its blockade against Iranian ports. The latest Iranian proposal has left President Donald Trump unhappy. Ilya Spivak is the head of global macro at Tastylive. He...

Gold was largely unchanged on Wednesday as investors awaited the comments of U.S. Federal Reserve Chair Jerome Powell to assess the economic impact of the Iran War as peace negotiations stall. As of 0611 GMT spot gold was down 0.1%, at $4,590.80 an ounce. It had fallen to its lowest level in April 2 the previous session. U.S. Gold futures for delivery in June?fell by 0.1% to $4604 Investors are expecting the Fed to maintain interest rates at the end its two-day meeting, later that day. War-driven energy shocks have reignited already-high inflation. "Much market resilience since last April's panic-driven...

Investors waited for a U.S. report on gold. Federal Reserve Chair Jerome Powell's comments will be used to assess the economic impact of the Iran War as the peace talks stagnate. As of 0439 GMT spot gold rose 0.2% to $4,602.82 an ounce after dropping to its lowest level in April 2 the previous session. U.S. gold futures for June delivery rose 0.2% ?to $4,616.40. Investors anticipate that the Fed will hold interest rates at a steady level after its two-day session later in the day. The market's resilience has been built on the assumption that the Fed will step...

Gregor Stuart Hunter gives us a look at what the future holds for European and global markets. Fed Day is upon us, and it looks more certain than ever that Jerome Powell will be the next chair. The Senate will vote on Kevin Warsh by the end of the Federal Open Market Committee, setting the stage for the most important period at the world's largest central bank. Fed funds futures indicate a 100% likelihood of a hold. No policy changes are expected before 2027. Warsh's ability to navigate the relationship between the FOMC and the White House is still in...

The mining and transportation conglomerate, Grupo Mexico, reported on Tuesday a 57% increase in profits in the first three months of the year compared to the same period last year. This was largely due to an increase in sales of silver and zinc. The group's net profit was $1.71 billion. The group's revenues grew 33%, to $5.57 Billion. This was above the $5.53 Billion estimate by LSEG analysts. The core earnings (earnings before interest, taxes, depreciation, and amortization) for the quarter ending March increased by nearly 50%, to $3.31 billion. Grupo Mexico is controlled by Mexican billionaire German Larrea and...

Pernod Ricard & Brown-Forman announced that they had ended their merger talks after failing to reach mutually satisfactory terms. Last month, the companies announced that they had been in talks about a possible merger. This would have combined the second largest spirits producer in the world with the largest American whiskey producer. Sazerac American spirits group, which has brands such as Corazon Tequila and Svedka Vodka, emerged this month as a potential new bidder for Brown-Forman. Pernod Ricard said Tuesday that it remains confident and focused on its operating model and strategy, backed by a strong team of committed employees...

Tim Cribb, the chief operating officer, will be Wessel Hamman, the chief financial officer, of the new Barrick Mining company, which will hold the North American assets before its U.S. IPO. Both executives are insiders of the company. The Toronto Stock Exchange shares of Barrick Mining fell 3.3%, to C$53.63. This was in line with the gold price. The IPO update for its North American unit follows a year of corporate reorganization, which included the departure of former CEO Mark Bristow and a division of Barrick's business. Mark Hill was appointed to lead the planned listing of the stock market...

Triton Uranium's president Scott Evans said that the company is looking at a U.S. listing in 2026 through a merger with a special-purpose acquisition company. The company wants to "tap into" rising demand for nuclear fuels and boost domestic supply. The Canadian-based company began development work on its Atlas Project at Uranium City in Saskatchewan, where it controls approximately 46,742 acres. Triton raised almost $16 million from private sources, which it plans to use for exploration in advance of a possible public listing. Evans stated that the company would be open to selling a stake to either the U.S. government...

Gold prices were largely stable on Monday as traders remained 'cautious' ahead of central bank meetings. They feared that the persistent rise in oil prices would lead to a more hawkish stance. As of 0910 GMT, spot gold was down 0.1% at $4,704.01 an ounce. U.S. Gold Futures for June Delivery fell 0.4% to $ 4,719.90. Fawad Rasaqzada is a market analyst for City Index and FOREX.com. He said that the main message traders are preparing to hear 'is that central bankers will be more hawkish in their approach than they previously were because oil prices have increased and inflationary...

Gold rose?on Monday, aided by a weaker?dollar?as news of Iran's new proposal to end its war with the U.S. boosted hopes for a deescalation of the Middle East conflict. As of 0407 GMT, spot gold was up by 0.4%, at $4,726.62 an ounce. Last week the metal dropped 2.5%, ending a four-week winning streak. U.S. Gold Futures for June Delivery were unchanged at $4,742. The?dollar, which lends support to the bullion market, eased after it was reported that Iran had given the U.S. through Pakistani mediators a new proposition on the reopening of the Strait of Hormuz as well as...

Gold recovered?early losses to 'trade largely stable on Monday, helped by a'slightly softened dollar. Investors looked for progress in the stalled talks between Iran and the United States. As of 0233 GMT the spot gold price was unchanged at $4,707.75 an ounce after losing 0.8% earlier. Last week, gold fell 2.5% and ended a four-week streak of?winnings. U.S. Gold Futures for June Delivery fell by 0.4% to $4720.50. Dollar eased, lending support to the bullion after a report that said Iran via Pakistani mediators had given the U.S. an updated proposal on reopening the Strait of Hormuz. "We are just...

Dalian iron-ore futures posted their third weekly gain in a row on Thursday as positive factory activity data from China boosted demand prospects for the second largest economy. The September Iron Ore Contract, the most traded on China's Dalian Commodity Exchange(DCE), closed daytime trading 1.6% higher. It had reached a monthly peak of 802.5 Yuan earlier in session. The contract gained 0.95% per week and 0.44% per month. The Chinese markets will be closed from May 1 to 5, for holiday. As of 0711 GMT, the benchmark June iron ore traded on Singapore Exchange was 0.88% higher. It cost $107.35...

The London Metal Exchange's Asia Week conference, which takes place next week in Hong Kong, will be dominated by geopolitics. The U.S. and Israeli war against Iran has caused a shock to the energy market, which is affecting the outlook for demand of most metals. The blockade of the Strait of Hormuz?has?trapped?large quantities of aluminium, sulphur and sulphuric acids that are used to produce copper and nickel. In the meantime, governments in Indonesia and Guinea tighten their grip on production through export quotas as well as tax changes. This is a new type of resource nationalism. Here is a summary...

Prices rose for the first day in five on Wednesday, as Chinese demand and worries about disruptions to sulphuric and diesel supplies boosted prices. In official open outcry, the benchmark three-month copper price on London Metal Exchange rose 0.3% to $13,072 per metric tonne. SP Angel analyst John Meyer stated that prices are being supported by the concerns about the shortages of sulphuric acids, which is used in the production of around 20% of the world's copper due to the ongoing conflict. Meyer stated that "China banned exports of acid?and copper miner in Chile gets a certain quantity of their...

Baoshan Iron & Steel Co, China's largest?listed steelmaker reported a?annual?fall of 8.6% in its first-quarter?net profit. This was due to?higher costs for?feedstocks, and sluggish domestic?demand. In a filing with the Shanghai Stock Exchange, the company known as Baosteel said that it had earned approximately 2.23 billion Yuan ($326.33 millions) in the first three months of 2026. This is down from 2.43 billion Yuan in the same period of 2025. Steel prices fell 4.4% during the first quarter of this year, while iron ore rose 3.2%. This has squeezed margins according to Baosteel. It is a subsidiary owned by the China...

Prices of iron ore futures rose on Wednesday, as the central bank of China announced a new policy to increase loan issuance. This eased concerns about consumption. The September contract for iron ore on China's Dalian Commodity Exchange closed the day trading 0.9% higher, at 787.5 Yuan ($115.24). As of 0702 GMT, the benchmark June iron ore traded on the Singapore Exchange had risen by 0.54% to $106.35 per ton. Sources said that the People's Bank of China had asked banks to "expand the loan issuance" and make sure the outstanding loan balances showed positive growth month-over-month in April, so...

Iron ore prices were little altered on Monday as falling inventories and a restocking of steelmakers by top consumer China offset higher shipments and a weaker steel margins from Australia, whose major supplier. The day-trade price of the most traded iron ore contract on China's Dalian Commodity Exchange was 786 yuan (115.12 dollars) per metric ton. As of 0701 GMT, the benchmark May ore price on Singapore Exchange was up 0.23% at $106.85 per ton. Analysts said that Chinese steelmakers continue to replenish feedstocks including iron ore ahead of the May Day Holiday break from May 1-5. This has supported...

As part of an 'overall Western push to loosen China’s grip on materials vital to advanced manufacturing, the U.S. & European Union deepened their cooperation?on critical mineral?on Friday. U.S. Secretary Marco Rubio signed a Memorandum of Understanding with European Union Trade Commissioner Maros Sefcovic for a partnership to produce and secure critical minerals. Rubio didn't mention China, but said that the preliminary agreement reached with Brussels showed that Western allies are becoming more aware of the importance of supply chain and minerals to their economic success. China has used geo-economic pressure to 'chokehold' the processing of minerals. It has sometimes...

Bloomberg News reported that Anglo American had at least three potential buyers for its Australian steelmaking coal business, after the deal with Peabody Energy fell through. The report was based on people familiar with this matter. The report said that Stanmore Resources of Australia, Mitsubishi Corp. from Japan, and PT Buma Internasional Grup, based in Indonesia, were among the 'bidders' for the coal assets. Stanmore, Mitsubishi, and Buma International did not "immediately" respond to the request for comment. Bloomberg reports that a deal could be announced in the coming months. Peabody retracted its $3.78billion bid in August for Anglo American’s...

Iron ore prices were in a narrow range on Thursday as investors weighed the higher costs of the prolonged war with Iran against the prospect of an increasing supply?of this key ingredient for steelmaking. As of 0212 GMT, the?most traded iron ore?contract at China's Dalian Commodity Exchange was little changed. It was trading at 785.5 Yuan ($115.05). As of 0102 GMT, the benchmark May iron ore traded on Singapore Exchange was down 0.18% at $107.1 per ton. It reached the highest level since March 30, at $107.5, earlier in the session. Singapore's benchmark has been well above the psychologically important...

Prices of iron ores rose on Wednesday as steelmakers in China rushed to replenish their stocks before the holiday season. This was despite concerns about a possible increase in'supply' following a resolution of a contract dispute that lasted for months between BHP Group, and China. BHP, world's third largest iron ore supplier said that it had completed iron ore contract negotiations with China Mineral Resources Group, the state buyer of iron ore. Last week, it was reported that CMRG lifted a ban on BHP's procurement of the key ingredient for steelmaking after its top?executives had visited China. Iron ore, the...

The iron ore price ranged on Wednesday as the steelmakers restocked in a frenzy of activity before the holidays. BHP, 'the?world’s?third-largest supplier of iron ore, announced that it had completed iron ore contract negotiations with China Mineral Resources Group (CMRG), a state buyer. Last week, it was reported that CMRG lifted its ban on the procurement of the key ingredient for steelmaking from BHP following a visit by BHP's top executives. As of 0214 GMT, the most traded iron ore contract at China's Dalian Commodity Exchange was up 0.38% to 787 yuan (US$115.37) per metric ton. As of 0204 GMT,...

Aluminum prices dropped on Friday, after Iran's foreign minister announced that all commercial vessels could pass through the Strait of Hormuz for a period of time remaining in the ceasefire. Benchmark 'three-month' aluminium at the?London Metal Exchange was down by 2.6% to $3,549 per metric ton as of 1601 GMT. The reopening of Strait of Hormuz where navigation was largely suspended after U.S. and Israeli attacks against Iran began on 28 February improves prospects for exports of aluminium from the Gulf -region which account for approximately 9% of the global supply. The Strait is used by producers in the area...