Mineral Resources

Gold inched down on Friday as a stronger-than-expected U.S. jobs report reinforced expectations that the Federal Reserve will refrain from cutting interest rates at its December meeting. As of 0242 GMT, spot gold was down by 0.1%, at $4,072.87 an ounce. U.S. Gold Futures for December Delivery edged up 0.3% to $4,071.90 an ounce. GoldSilver Central MD Brian Lan stated that "gold prices are currently consolidating and we can see the dollar has gained quite a bit. Behind it, there's a lot speculation about whether or not the Fed will cut interest rates further." "I think the market is uncertain...

Goldman Sachs raised its copper price forecast for December 2025 to $10,610 from $10,385, reflecting the fourth-quarter rally. The bank has maintained its price range of $10,000 to $11,000 per ton for 2026-2027 citing the expectation of a modest surplus on the market. It projected that prices would rise as demand in critical sectors increased and resource constraints tightened. Goldman Sachs' long-term forecast for copper prices in 2035 is $15,000 per ton. This is above both the consensus estimate and forwards which are about $10,390 per ton. The bank bases this on its assumption that many long-stalled mine projects will...

Gold prices fell on Thursday as investors digested the September U.S. jobs report, which showed stronger-than-expected employment figures and dampened prospects for a December rate cut. By 12:15 pm, spot gold had fallen 0.7%, to $4,051.89 an ounce. ET (1715 GMT). U.S. Gold Futures for December Delivery fell by 0.8%, to $4.051.90 an ounce. Gold priced in greenbacks became more expensive to overseas buyers as the U.S. Dollar strengthened against major currencies. Labor Department's closely watched report was delayed by the government shutdown. It showed that nonfarm payrolls rose 119,000 in September, which is more than twice the expected 50,000...

A second fire broke out at Novelis' Oswego aluminum plant, which supplies Ford's profitable F-150 truck range, on Thursday, two months after another fire shut down much of the production. Ford cut its profit projection in October, citing an incident that could have cost up to $2 billion. Ford, based in Dearborn, Michigan expects to offset approximately $1 billion by increasing production next year at certain truck factories, the automaker said in October. Ford, which uses a lot of aluminum in its trucks, is the largest consumer. After the fire in Michigan in September, Ford halted production indefinitely of its...

The copper market edged upwards on Thursday, following strong results by AI giant Nvidia. However, a strong dollar as well as concerns over the demand from China's top metals consumer weighed heavily on the market. The benchmark three-month copper price on the London Metal Exchange increased 0.3%, to $10,784 per metric ton, by 1525 GMT. This modest gain was extended from the previous session. LME copper is up 22% for the year, but it has fallen from its record high of $11,200 reached on October 29, 2009. Nvidia shocked Wall Street on Wednesday after the markets closed by reporting an...

The gold price remained stable on Thursday as investors digested the delayed U.S. employment report, which showed better than expected September employment figures. They were looking for more clues about the Federal Reserve policy outlook. As of 9:25 am, spot gold was up by 0.1%, at $4,083.95 an ounce. ET (1425 GMT). U.S. gold for delivery in December rose by 0.1%, to $4.083.30 an ounce. Labor Department data, which was delayed by the government shutdown, revealed that nonfarm payrolls rose 119,000 in September, more than twice the expected 50,000 increase. Peter Grant, senior metals analyst at Zaner Metals, said that...

The gold price rose on Wednesday as investors sought out the safe haven asset in anticipation of the Federal Reserve meeting minutes to be released later that day. This was also due to delayed U.S. Employment data on Thursday. At 11:25 am, spot gold rose 0.3% to $4,081.15 an ounce. ET (1625 GMT) after climbing more than 1% earlier in session. U.S. Gold Futures for December Delivery gained 0.4%, to $4.081.50 an ounce. There's a safe-haven buy going on right now .... Bob Haberkorn, RJO Futures' market strategist, said that the (job) figures have been slightly softer and there is...

Anfield Energy announced on Wednesday that it had applied to the state for approval to restart the JD-8 uranium-vanadium mine, which was previously producing in Colorado. This will allow the company to resume production in the second quarter of 2026. Due to the poor market conditions that made production uneconomical, JD-8's uranium-vanadium project is currently inactive. The Burnaby-based Canadian company has submitted its application at a time when the Trump administration is intensifying efforts to boost U.S. security of energy by reducing reliance on imported Uranium and revitalising nuclear sector. The federal government has increased its support for restarting nuclear...

Investors sought out safe-haven assets on Wednesday, and the Federal Reserve minutes of its latest meeting as well as a delayed U.S. employment report were viewed for clues about future rate movements. As of 0915 GMT, spot gold rose 0.5% to $4,088.03 an ounce. U.S. Gold Futures for December Delivery gained 0.5% per ounce to $4,087.90. Lukman Otunuga is a senior research analyst with FXTM. He said, "Gold has glistening slightly this morning, despite the cautious mood, after rebounding from $4,000 in the previous session." Investors will be watching the minutes of the Federal Reserve's meeting on October, which is...

Gold prices rose Wednesday, as investors sought clues about the Federal Reserve’s interest rate path. They awaited the minutes of the Federal Reserve’s latest policy meeting. As of 0633 GMT, spot gold rose 0.5% to $4,089.59 an ounce. U.S. Gold Futures for December Delivery gained 0.6% per ounce to $4,090.30. Investors are now awaiting the minutes of the Fed's most recent meeting. These will be released in the afternoon, along with the September non-farm employment report due on Thursday, after the U.S. shutdown. The economists surveyed by expected the report to show employers adding 50,000 jobs in September. The number...

Gold prices rose on Wednesday, as investors awaited the minutes of the Federal Reserve’s latest policy meeting. They also awaited the U.S. Jobs Report that may shed light on the Federal Reserve’s interest rate path. As of 0449 GMT, spot gold was up by 0.2%, at $4,074 an ounce. U.S. Gold Futures for December Delivery edged up 0.2% to $4,074.40 an ounce. Tim Waterer, Chief Market Analyst at KCM Trade, said that the strong USD and uncertainty about the timing of the next Fed rate reduction has slowed gold's momentum. Gold has been a safe play for investors due to...

The dollar's strength pushed gold down on Wednesday, as investors awaited the minutes of the Federal Reserve's most recent policy meeting. They also awaited the U.S. employment report which could shed light on the Federal Reserve interest rate trajectory. As of 0201 GMT, spot gold was down by 0.2%, at $4,059 an ounce. U.S. Gold Futures for December Delivery edged down 0.1% to $4,061.60 an ounce. Tim Waterer, Chief Market Analyst at KCM Trade, said that the strong USD and uncertainty about the timing of the next Fed rate reduction has slowed gold's momentum. Gold has been a safe play...

The Chinese embassy in Central African Republic (CAR), has warned that its citizens could become "mining slaves", in the gold trade of the politically insecure nation. Chinese workers are now looking to sub-Saharan Africa for work as gig economies in Asia dry up. The embassy released a statement Thursday stating that Chinese nationals were killed or kidnapped, and some even scammed of large sums and deported because they illegally mined. China has sent workers to resource-rich sub Saharan Africa in search of fortune. Gold prices have soared amid massive Chinese state purchases, while factory and construction jobs are disappearing as...

The price of iron ore futures fell on Friday, for the second consecutive session. This was due to signs of weaker demand in China and the shrinking margins within steel. As of 0301 GMT, the most traded January iron ore contract at China's Dalian Commodity Exchange shed 0.25%. It was 786 yuan (US$110.52) per metric ton. As of 0251 GMT, the benchmark December iron ore traded on Singapore Exchange was down 0.24% at $103.7 per ton. The average daily hot metal production, which is a measure of iron ore consumption, decreased by 0.3% compared to the previous week, reaching 2.36...

The copper price recovered on Wednesday, as some investors saw the recent pullback as a good entry as stock markets stabilized and amid persistent concerns about supply. By 1030 GMT, the benchmark three-month price of copper at the London Metal Exchange had risen by 0.9% to $10.812 per metric ton. LME copper fell nearly 5% on Tuesday, when it reached a low of about two weeks after hitting a record high of $11,200 on October 29. Ole Hansen is the head of commodity strategy for Saxo Bank, Copenhagen. "I think that there is some positive sentiment in the metals markets...

The European Union established import quotas for alloys of steel that contain manganese and silicon on Tuesday to protect domestic producers from a flood of cheap imports. The three-year measure will consist of country-specific import quotas for each type of ferroalloy. This will limit the amount of imports allowed into the EU without paying duty. If the prices of imported goods exceed thresholds, they may be allowed to enter the country without paying any duties. The tariff is applied if the price does not reach the threshold. In a press release, European Trade Commissioner Maros SEFCIC said that "the EU...

Copper fell for the third consecutive session on Tuesday. It hit its lowest level in almost two months, as industrial metals slid along with a wide sell-off of risky investments sparked off by fears about an overvalued technology sector and faded hopes of a U.S. interest rate cut. As of 1026 GMT, the benchmark three-month copper price on the London Metal Exchange had fallen 0.7% to $10,702.50 a metric tonne. The metal, which is used for construction and power, and was expected to be a beneficiary of the AI boom, fell by as much as 1.1% earlier to $10,660.50. Its...

The dollar strengthened on Tuesday as the U.S. Federal Reserve was divided over a rate cut in December. In addition, the delayed September payrolls were the main focus. The Shanghai Futures Exchange's most traded copper contract closed the day trading at 85,650 metric tons down by 0.88%. By 0708 GMT, the benchmark three-month price of copper at the London Metal Exchange had fallen by 0.97%. It was now $10,674 per ton. Dollar benefited from a decline in expectations that the Fed will cut rates next month. The dollar's strength makes commodities traded in greenbacks more expensive for investors who use...

The dollar strengthened on Tuesday as the U.S. Federal Reserve was divided over a rate cut in December. In addition, the delayed September payrolls were the main focus. By 0243 GMT, the most traded copper contract at the Shanghai Futures Exchange had dropped to 12 084 yuan per metric tonne. The benchmark copper for three months on the London Metal Exchange fell 0.37%, to $10 739 per ton. Dollar benefited from a decline in expectations that the Fed will cut rates next month. The dollar's strength makes commodities traded in greenbacks more expensive for investors who use other currencies. The...

The copper price fell on Monday due to a stronger dollar, the fading of hopes for a further Federal Reserve rate reduction, and macro-economic concerns. As of 1036 GMT, the benchmark three-month price for copper at the London Metal Exchange had fallen by 0.5% to $10,797.50 a metric ton. Metals used in construction, manufacturing and power are considered to be a good indicator of global economic health. In a note, Neil Welsh, the head of metals for Britannia Global Markets said that the base metals market was largely defined as a quiet one, with participants waiting on delayed U.S. data...

Yum China Holdings (the parent company of KFC in China and Pizza Hut there) said on Monday that it would continue to run a vigorous campaign in order to improve profitability and open new stores in the future. Smaller cities will be a key target. Yum China stated that by 2028 KFC plans to have over 17,000 stores in China, with an operating profit of 10 billion yuan (1,41 billion dollars). The company will use lower-capex store models in order to expand into smaller, untapped cities. The group expects to double the operating profit for Pizza Hut in China by...

China's Lithium price surged Monday after the Chairman of the major Chinese producer Ganfeng lithium Group Co predicted demand growth of 30% to 40% for battery metal in 2026. The Guangzhou Futures Exchange's most traded lithium carbonate contract rose 9%, reaching a high of 95,200 Yuan ($13401.28) a metric ton. This is the highest price since June 2024. The peak was reached after the local media outlet Cailian published Li Liangbin's comments in a speech at a conference. Li said that the demand for lithium carbonate could increase its price to more than 150,000 yuan per ton or even 200,000...

Official statistics show that despite low global lithium prices, Zimbabwean exports of spodumene, a mineral containing lithium and essential to battery production, increased by 27% during the nine-month period ending in September. According to figures obtained on Friday by the Minerals Marketing Corporation of Zimbabwe, Africa's largest lithium producer, exported 1 million metric tonnes of spodumene between January and September. This compares to 784.746 tons in the same period of last year. Oversupply has kept prices for lithium, a component of batteries that power renewable energy technologies, well below the 2022 peak. Prices for lithium carbonate have recently dropped to...

This week, physical gold demand in major Asian markets has been subdued as high prices have curtailed purchasing activity. Discounts in India reached their highest level for five months. Indian dealers' discounts The discount was up to $43 an ounce, including 6% import duties and 3% sales taxes, compared to the previous week's up to $14. A jeweller in Chennai said that footfall has been down after Diwali and sales have also dropped sharply due to the high prices. On Friday, domestic gold prices per 10 grams were 126,900 rupees (1,443.77), an increase of 6.5% over the low of 119,150...