Mining

U.S. stock prices fell and Treasury yields dipped as investors began a week filled with accelerated data releases following the longest shutdown of government in US history. Nvidia, the chipmaker that is a bellwether for artificial intelligence, will report its quarterly earnings on March 28. The results of this sector are expected to be closely scrutinized by investors looking for signs of waning interest in the area which has been driving the recent stock market rally. In early trading, all three major U.S. indexes were modestly lower. The U.S. Federal Reserve is expected to implement its third rate reduction of...

The U.S. construction sector unexpectedly recovered in August, driven by renovations of single-family homes and higher mortgage rates. Census Bureau of the Commerce Department reported on Monday that construction expenditures increased by 0.2% following a 0.2% increase in July, which was upwardly reviewed. The economists polled had predicted that construction spending would decline by 0.1% following a 0.1% drop in July. In August, spending decreased by 1.6% compared to the same period last year. The report was originally due on October 1 but the record 43-day federal shutdown delayed it. The report was published first, and the September monthly employment...

European stocks fell while bond yields dropped on Monday as markets awaited a report of earnings from $5 trillion chipmaker Nvidia, and U.S. employment data that would be released later this week. These could provide direction to the nervous global markets. The benchmark European index of 600 large stocks fell 0.4% after a global sell-off last week, triggered by concerns over the overvaluation of technology shares and diminished expectations of Federal Reserve rate cuts. Wall Street was set to open slightly higher with S&P futures rising 0.2% and Nasdaq futures gaining 0.4%. After hesitant comments from policymakers worried about inflation,...

Stocks and bond rates held steady on Monday as markets took a breather after a wobble last week in tech stocks that could be repeated or reversed when $5 trillion chipmaker Nvidia releases earnings on Wednesday. Investors are also awaiting the headline U.S. job data, due on Thursday. However, the report could do little more than confirm private market surveys that showed the labour market was slowing. The benchmark European index of 600 large stocks gained 0.1% during a subdued morning trading session. Wall Street is expected to follow suit as S&P futures moved up 0.6% and Nasdaq futures rose...

Gold prices rose on Monday, as investors waited to see a number of economic reports from the United States this week which could shed light on Federal Reserve's rate policy. As of 0256 GMT, spot gold was up by 0.1% to $4,083.92 an ounce. U.S. Gold Futures for December Delivery fell 0.2% to $4.085.30 an ounce. Tim Waterer, Chief Market Analyst at KCM Trade, said that the selling pressure on Gold last Friday may have been a little overdone. Gold's yield is being harmed by the Fed's tempered expectations of a rate cut next month. Although the shutdown is over,...

IperionX Ltd, an Australian titanium manufacturer, "strongly" rejected a critical report from Spruce Capital on Monday. Its shares fell as much as 24,4% after the trading halt lifted. IperionX shares dropped to A$4.24 at the opening of early trading, the lowest price since July 10. This was the largest decline on the benchmark S&P/ASX 200 Index, which fell 0.2%. IperionX stopped trading on Thursday last week to prepare a reply to Spruce Point’s 93-page study, in which the company was accused of exaggerating its prospects, denying its valuation, and questioning project claims. The short seller raised concerns about discrepancies with...

The Australian miner Syrah said Monday it had reached an agreement with Tesla to extend a deadline for addressing alleged non-compliance of their graphite contract, the second in two months. Elon Musk's automaker, Tesla, issued a default notification in July because Syrah had allegedly failed deliver active anode samples that were conforming from its Louisiana facility processing Tesla's batteries. Syrah stated that the original deadline of September 16, which was originally extended to November 15, has been further pushed back to January 16, 2020. The company stated that "Syrah has not accepted it is in breach of the offtake contract,...

Barrick is considering splitting into Africa and North America focused entities Discussion on the sale of African assets, including Reko Diq Mine Barrick's performance in the record gold rally is undervalued by investors. By Divya Rajagopal Four sources familiar with Barrick Mining's thinking said that the board has discussed the possibility of splitting Barrick Mining into two separate companies, one focusing on North America, and the other focusing on Africa and Asia. Sources say that a split could include the sale of Barrick Africa's assets, as well as the Reko diq mine in Pakistan once financing is secured. Sources said...

Barrick is considering splitting into Africa and North America focused entities Discussion on the sale of African assets, including Reko Diq Mine Barrick's performance in the record gold rally is undervalued by investors. By Divya Rajagopal Four sources familiar with Barrick Mining's thinking said that the board has discussed the possibility of splitting Barrick Mining into two separate companies, one focusing on North America, and the other focusing on Africa and Asia. Sources say that a split could include the sale of Barrick Africa's assets, as well as the Reko diq mine in Pakistan once financing is secured. Sources said...

Gold prices fell more than 3% Friday, as a result of a wider market sell-off sparked off by hawkish comments from U.S. Federal Reserve officials. This lowered hopes for an interest rate reduction in December. As of 9:02 am, spot gold was down 3.1% at $4,041.01 an ounce. ET (1153 GMT). The bullion price is still up 1.4% this week. U.S. Gold Futures for December Delivery fell 3.6% to $ 4,043.10 an ounce. David Meger is the director of metals at High Ridge Futures. He said that the idea that there will be a lower likelihood of a Fed cut...

Gold prices sawsawed Friday, as hawkish remarks from U.S. Federal Reserve officials lowered prospects for a rate cut in December. However, they were still set to make a gain for the week due to wider economic uncertainty. As of 1044 GMT spot gold was down by 0.1%, at $4,166.91 an ounce. It had earlier reached $4,211.06 per ounce. Bullion has risen 4.2% this week. U.S. Gold Futures for December Delivery fell 0.6% to $ 4,170.10 an ounce. The cautious mood on financial markets is helping to support gold prices. However, there are growing doubts that the Federal Reserve will cut...

Gold prices pared gains earlier on Friday, as hawkish remarks from U.S. Federal Reserve representatives clouded the prospects for a rate cut in December. However, they remain set for a week-long gain supported by wider uncertainty. As of 0930 GMT spot gold remained steady at $4169.58 an ounce after reaching $4211.06 earlier during the session. Bullion has risen 4.3% this week. U.S. Gold Futures for December Delivery eased by 0.2% to $4.185.90 an ounce. The cautious mood on financial markets is helping to support gold prices. However, there are growing doubts that the Federal Reserve will cut rates in December...

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...

China's cabinet promised on Friday to boost the consumption of goods and services by aligning them with consumer demand. They also pledged to use consumption improvements to drive industrial upgrades. This was revealed in a read-out broadcast by CCTV. The cabinet said that it would also create an environment that is conducive to consumption and improve products and services in consumer finance. Chinese leaders have indicated a more radical shift toward Supporting consumption Over the next five-year period, trade tensions and a limited investment space will expose vulnerabilities. China's The structural imbalances continued to persist in October. In October, industrial...

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...

Morgan Stanley and its U.S. shareholders were at risk of financial, regulatory and reputational damage as a result of the underwriting of Zijin Gold International’s Hong Kong IPO, a U.S. House of Representatives Committee warned Morgan Stanley on Thursday. Zijin Gold, a subsidiary company of Zijin Mining Group is listed on the U.S. Government list of companies that are prohibited from importing their products due to alleged abuses of human rights by Uyghurs. The House Select Committee on China stated that Morgan Stanley helped with Zijin Gold’s IPO in September to help raise funds for its parent company by selling...

After a four-day streak of gains, copper struggled on Thursday to continue its upward trajectory as the positive sentiment surrounding the end of the U.S. Government shutdown was countered by the weak lending data coming from China, the world's largest metals consumer. As of 1025 GMT, the benchmark three-month copper price on the London Metal Exchange had not changed much. It was $10,937.50 a metric ton. The price of copper rose by as much as 0.4% earlier in the day to $10,984, but fell short of the psychologically important $11,000 mark. Last month, copper reached a new record of $11,200...

Solvay, a French chemical company, announced on Wednesday that it has signed two agreements to supply rare-earths to U.S. magnetic makers in order to expand its processing facility. Solvay is one of only a handful of companies outside China that can perform the difficult rare earths separation. In April, it began processing minerals for permanent magnets in its French facility. However, commercial production will depend on government and customer support. Separate statements stated that Solvay has concluded agreements to supply rare-earth oxides with U.S. firms Noveon Magnetics & Permag. In order to reduce dependence on China, the United States, Europe,...

Guinea's planning minister announced that the country plans to launch a sovereign wealth fund in the second quarter 2026, with a $1 billion initial investment. The West African nation is leveraging influx of revenue from its massive Simandou Iron Ore Mine. The fund will invest long-term income from resource projects, such as the Simandou Project launched this week, in education, infrastructure, agricultural and industrial sectors, protecting the economy against commodity price fluctuations. Ismael Nabo told journalists in Conakry's capital that he would put a portion of the revenue he received into the sovereign wealth fund. This will help him raise...

Iron ore futures rose on Wednesday as the hopes for a fresh stimulus from China, a major consumer, outweighed worries about gloomy prospects due to a growing supply and decreasing demand. The January contract for iron ore on China's Dalian Commodity Exchange closed the daytime trading 1.38% higher, at 774 Yuan ($108.66), its highest level since November 7. As of 0738 GMT the benchmark December iron ore traded on the Singapore Exchange was up 1.31% at $102,85 per ton, the highest price since November 7. China's central banks Tuesday announcement that it will maintain an "appropriately" loose monetary policy and...

The price of iron ore futures rose on Wednesday as the hopes for a fresh stimulus from China, the world's largest consumer, outweighed worries about a gloomy forecast due to a growing supply and decreasing demand. As of 0209 GMT the most traded January iron ore contract at China's Dalian Commodity Exchange rose 1.18%, to 772.5 Yuan ($108.45), a metric tonne, its highest level since November 7. As of 0159 GMT, the benchmark December iron ore traded on Singapore Exchange was trading at $102.5 per ton. China's central banks Tuesday announcement that it will maintain an "appropriately" loose monetary policy...