Mineral Resources

Amitabh Kumra, a trade official in India, said that India did not have'surplus manufacturing capacity' in textiles and steel as claimed in the Section 301 investigation by the U.S. Trade Representative. Washington has cited structural surplus capacity in Indian industries, from solar panels and petrochemicals, to steel and textiles. It also cites its $42 billion goods trade deficit with the United States by 2025. Kumar, India's Additional Trade Secretary, said that its textile and Steel output should be evaluated in relation to the size of its population, its domestic demand, and its growth needs rather than its absolute production. "Overcapacity"...

On Wednesday, gold?fell?to an 11-week low, as oil prices?rose?on renewed hostilities between Iran and the U.S., fueling concerns about inflation. Gold spot was down 1.7% to $4,191.84 an ounce at 0747 GMT after reaching its lowest level since 23 March. U.S. Gold Futures for August Delivery fell?1.6%, to $4,215.60. Ilya Spivak is the head of global macro at Tastylive. He said, "We are seeing a readjustment in what central banks will do globally, and that there has been a major shift towards hawkishness." After President Donald Trump claimed that Iran had?shot down a U.S. Apache helo in the Strait of?Hormuz,...

As the dollar and oil prices rose on Wednesday due to renewed hostilities between Iran and the U.S., gold fell to an 11-week low, fueling concerns over inflation and interest rates hikes. Gold spot was down 1.9% to $4,181.04 an ounce at 0414 GMT after reaching its lowest level since 23 March. U.S. Gold Futures for August Delivery fell 1.9% to $4204.70. Dollars rose, causing greenback-priced gold to be?more costly for holders of currencies other than the dollar. Oil prices rose 1%, fueling inflation fears and expectations that interest rates will remain high for a longer period. The Federal Reserve's...

The race for Peru's presidency tightened up overnight, with candidates separated by less that 0.1%. Overseas votes are pushing the race to Keiko Fujimori. This is giving markets a boost on Tuesday. The main'stock -index' of Peru jumped more than 7% on Tuesday morning. U.S. listed shares like Buenaventura miner were up 8.2%, Intercorp Financial Services was up 12.9% and the iShares MSCI Peru Global Exposure ETF jumped by 6.7%. The local currency, the sol, was up by 2.45% against the dollar at 3.345. The increase is largely the reversal from a sharp drop on Friday, after leftist Roberto Sanchez,...

On Monday, the leftist Roberto 'Sanchez' was closing in on conservative Keiko?Fujimori in Peru’s presidential race. This sent markets and mining stocks lower as the official counting continued into its second day. Fujimori has lost ground to Sanchez after 93% of the votes have been counted. Sanchez has gained ground in Peru's rural areas as the votes continue to be counted. Sanchez has promised a major overhaul of Peru's economy, which has proven resilient despite the political turmoil in the country. Shares of Peruvian firms listed in the United States are down. Miner Buenaventura dropped 3% while?Credicorp fell 4.8%. Intercorp...

The mining firm Sinda filed for a U.S. IPO on Friday, marking billionaire Thomas Kaplan's'second attempt' to enter the public markets, following Sunshine Silver's listing a 'day earlier', as 'interest in IPOs' rebounded. The filing did not reveal the terms of?the?offering. The U.S. IPO Market exploded in 2026. A variety of sectors were eager to list and take advantage of the excitement among investors for new listings. Elon Musk’s SpaceX will?start trading in New York in what is expected to be the largest IPO ever. Anthropic, a leading AI company, also filed a confidential application to go public last week....

La Pryor, a quiet Texas cattle town, has become the center of the screwworm battle after the first U.S. instance in decades was discovered there. This prompted a?quarantine on livestock and put ranchers and pet-owners on edge. On Wednesday, a calf in a ranch was found to have?the meat-eating?parasite. It had a large hole around its umbilical chord. Since more than a decade, ranchers in South Texas are preparing for the arrival screwworm. The flies have moved from Colombia, through Central America and closer to the U.S. Border. The parasite can decimate local wildlife and cattle herds. U.S. Department of...

Five sources familiar with the matter have confirmed that 'Cargill' is in discussions to sell its metals division to Macquarie Group, as a global trading house wants to concentrate on its core operations of food and agriculture. The five sources all spoke under condition of anonymity as the sale had not yet been announced. They were also not authorized to speak to media. They didn't disclose any further details about the discussions, which may not result in a deal. Cargill did not respond to requests for comments via phone and email. Macquarie has declined to comment. Cargill's metals unit in...

Gold prices dropped on Friday and were set to?for an overall loss? as tensions in Middle 'East tempered?hopes of a U.S. - Iran peace deal amid fears about rising inflation and rate hikes. As of 0548 GMT, spot gold was down by 0.6%, at $4,445.51 an ounce. The price of gold has dropped about 2% in the last week. U.S. Gold Futures for August Delivery fell by 0.7% to $4471.70. Israel has said that it will not withdraw its troops from Lebanon, despite the rejection of a ceasefire by Hezbollah's?militia. This undermines President Donald Trump’s efforts to stop fighting in...

Gold prices rose more than 1% Thursday, as oil prices fell?on the back of optimism about a possible?end to Iran conflict. This caused the dollar to rise and bond yields to drop. As of 1:41 pm EDT (1741 GMT), spot gold was up by 1% to $4,476.85 an ounce. U.S. Gold Futures for August Delivery settled 0.9% higher at $4,505. Independent metals trader Tai Wong says that reports of a ceasefire agreement between?Israel? and Lebanon? have pushed the dollar and bond yields up, which has helped gold to hold above?the 200-day moving averge. Israel and Lebanon announced late on Wednesday...

Gold prices rose more than 1% on Thursday, as oil prices fell due to optimism about a possible end to the Iran Conflict. This led to a fall in bond yields and pressured the dollar. As of 9:05 am EDT (1305 GMT), spot gold was up by 1.7% to $4,505.35 an ounce. U.S. Gold futures for August delivered gained 1.5%, to $4,532.80. The dollar and bond yields have been pushed up by reports of a?deal for a ceasefire between Israel and Lebanon, according to independent metals trader Tai Wong. This has helped gold hold just above the 200-day moving averge....

Gold prices grew on Thursday as a result of lower 'crude oil' prices and a weakened dollar, with investors assessing renewed expectations regarding a U.S.-Israeli resolution to their war against Iran. As of 0559 GMT, spot gold was up by 0.8% to $4,468.84 an ounce. U.S. gold for August delivery rose 0.7% to $4495.70. Dollar eased making greenback bullion prices more affordable for holders other currencies. Gold's gains are still heavily dependent on oil and the dollar. It only rises when they retreat, so it is highly dependent on the positive U.S. - Iran headlines to sustain any momentum," said...

Copper prices fell on Wednesday as the volatility of the Middle East conflict and macroeconomic worries overshadowed any price support that could be provided by potential U.S. Tariffs. Benchmark three-month Copper on the London Metal Exchange declined 0.32% as of 0700 GMT to $13,572 per metric tonne. The Shanghai Futures Exchange's most traded copper contract fell 0.29%, to 104110 yuan (15,366.79) per ton. Oil reversed gains and fell 0.1% even after U.S.-Iran exchanged some of their biggest "strikes" since they agreed on a ceasefire agreement in April. The war has pushed up energy prices and stressed manufacturing, which is a...

India's sharp rise in gold import tariffs has fueled a surge in smuggling, which could reach 100 metric tonnes this year. This is because smugglers can now slash prices on the grey market, allowing them to undercut refiners and banks. India, which is the second largest gold market in the world after China, increased import tariffs by more than doubling to 15% to reduce demand, to cut the trade deficit, and to ease pressure on rupee. They said that the move created an opportunity for gold smugglers to compete with legitimate importers by offering prices they cannot match. A Mumbai-based...

China's aluminum exports surged during a month in May, according to official data released on Tuesday. This was due to disruptions of shipment and production due to the Iran war, which kept global supplies tight. Exports of China's unwrought aluminum and products rose 5.68% to 632,000 tons in May. Customs data shows that in the first five month of 2026, exports of unwrought aluminum and products grew by?10.4%, to 2,69 million tonnes. Exports in May were higher than April's already strong levels - the highest for at least a full year - and extended gains since the start of the...

The price of copper?went up slightly on Tuesday as London Metal Exchange inventories shrank, helping it to withstand pressures from concerns over?Middle East tensions?, inflation?, and lower China imports. Benchmark 'three-month' copper on the London Metal Exchange rose 0.48% by 0702 GMT to $13,681.5 per metric ton. The Shanghai Futures Exchange's most traded copper contract rose 0.56%, to 104.650 yuan (15,452.42) per ton. The Donald Trump administration is expected to make a decision on tariffs for copper imports by the end of the month. Data released by China's top consumer showed that imports of copper unwrought have declined significantly this...

London copper prices remained at a one-week low on Monday due to weaker Chinese 'prices, and expectations that the Federal Reserve will be influenced by strong U.S. job data and higher oil prices. The benchmark three-month copper price on the London Metal Exchange rose 0.19%, to $13,545 per metric ton at 0710 GMT. The LME copper fell to its lowest level since May 28 due to a rising dollar, and fears of inflation. Industrial metals are more dependent on economic growth as a result of higher?interest rates. The official data revealed that the U.S. added 172,000 new jobs in May....

London copper was near its one-week lows Monday due to a combination of 'weaker Chinese metal prices' and a growing expectation that the Federal Reserve will be pushed towards rate hikes by strong U.S. job data and higher oil costs. Benchmark 'three-month copper' on the London Metal Exchange rose 0.38% at $13,570.5 per metric ton as of 0331 GMT. LME copper fell to its lowest level since May 28 due to a rising dollar, and inflation fears. Industrial metals are more dependent on economic growth, so higher interest rates can dampen their prospects. Official data showed that the U.S. economy...

Iron ore prices are headed for a fourth consecutive weekly loss even though they were mixed on Friday as declining margins for steelmakers' in the world's largest consumer, China, curbed buying appetite for this key ingredient. The most-traded contract for iron ore on China's Dalian Commodity Exchange closed daytime trading down 0.91% to 766 yuan (113.07 dollars) per metric ton. This marked a 2.1% weekly drop. The contract reached its lowest level in over a year at 760.5 Yuan during the session. As of 813 GMT, the benchmark July iron ore traded on Singapore Exchange was trading at $101.9 per?ton....

Senior government officials revealed on Friday that major miners and their representatives have asked Canberra to help them push back against China's attempts to get better terms for their iron ore. They also raised the possibility of a single selling desk, Australia's largest commodity export. China Mineral Resources Group, the state-owned iron ore buyer in China, has used increasingly aggressive tactics to gain better deals for its steel mills and to consolidate its position on the $132 billion market by sea. CMRG had blacklisted BHP's Iron Ore for 7 months during protracted contract negotiations. CMRG also warned some steelmakers to...

Gold demand in India was subdued as buyers were on the sidelines because of?volatile overseas prices. Premiums?in China also eased slightly. On Friday, the price of domestic gold was around 158.400 rupees for 10 grams. Dealers quoted discounts This week you can save up to $87 per ounce on official domestic prices, including 15% import duty and 3% sales tax. Last week, you could save up to $106 per ounce. The wedding season is coming to an end. The retail demand is continuing to moderate and jewellery stores are reporting lower footfall in the country, said a Mumbai bullion dealer...

Iron ore prices fell on Thursday, recording their largest daily loss in a period of 'nearly 2 months. This was due to rising concerns over demand from China, the top steel consumer. Steel margins are shrinking and steel consumption is weakening amid high input costs. The largest iron ore contract traded on China's Dalian Commodity Exchange ended daytime trading down 1.85%. This is the biggest daily loss since the 9th of April. It closed at 767.5 Yuan ($113.32), the lowest level since the 16th of April. As of 0800 GMT, the benchmark July 'iron ore' on the Singapore Exchange fell...

Iron ore prices continued to fall on Thursday, reaching a 'lowest level in over six weeks.' This was due to rising concerns regarding demand from 'China, the worlds largest steel consumer. Iron ore, the most traded contract on China's Dalian Commodity Exchange(DCE), fell by 0.96% at 0327 GMT to 774.5 Yuan ($114.32) per metric ton. This was its lowest level since April 20, As of 0317 GMT the benchmark?July Iron Ore traded on the Singapore Exchange had fallen 0.93% to $102.7 per tonne, after having hit its lowest level since April 14, at $102.5. Analysts said that demand for iron...

The copper price?retreated? on Wednesday, after renewed hostilities in Iran's?war undermined the optimism of an imminent resolution and boosted the?dollar. However, the prospect of U.S. Tariffs have limited the downside. Benchmark 'three-month copper at the London Metal Exchange fell 0.9% to $13,914 per metric tonne by 0930 GMT. In the previous session it had reached its highest level in over two weeks, with a 1.5% gain. Gulf hostilities erupted on Wednesday, as diplomacy between Washington & Tehran showed little progress. The markets have moved to a more risk-averse environment as a result of the exchange of fire. Oil prices rose...