Mining

In an alarming week dominated by a?Middle East conflict, the gold market made a bizarre move. Investors did not rush to buy gold but instead rushed for dollars, selling anything that had a speculative edge before the attacks last weekend. After the attacks on Iran Saturday, the initial demand for precious metals waned rapidly. On Tuesday there was a dramatic reversal with silver and gold both dropping by as much as 10 percent. One of the main reasons for the gold price's decline was the return of the dollar’s "safety" bid, which had seen the greenback rise this week despite...

Buy expensive steel that is made using a "nascent" technology powered by green hydrogen, which barely exists? Under European Union plans, which aim to bolster the steel industry of the EU while still meeting?its environmental targets, this is what Europe's automakers face. They are already under pressure from a fiercer competition in China. The EU changed its CO2 emission targets for new cars in December to 90% by 2035, from 100%. This was a shift from the earlier 100% target. EU WANT TO BOOST EUROPEAN STAINLESS SECTOR The new proposal is tied to the EU Industrial Accelerator Act, due to...

QatarEnergy announced on Tuesday that it would halt production of aluminium due to the U.S. and Israeli attacks on Iran. Natural gas prices have soared since Monday, when the state-owned company halted production of liquefied gas following Iranian drone attacks against its Ras Laffan facility. QatarEnergy holds 51% of the shares in Qatar Aluminum Manufacturing Co, one of the shareholders in the 648,000-metric-ton per year Qatalum smelter alongside Norway's Norsk Hydro. QatarEnergy holds 51% in Qatar Aluminum ?Manufacturing Co, one of the shareholders in the 648,000-metric-ton-per-year Qatalum smelter alongside Norway's Norsk Hydro. IMPLICATIONS FOR ALUMINIUM PRODUCTION ?ARE UNCLEAR Hydro confirmed...

Investors are left with an uncomfortable question: How can they hedge their risks when the traditional equity and bond portfolio is no longer working? Investors are under increasing pressure to find a solution, and the answer may not be obvious. However, the volatility of the world markets following the U.S./Israeli attack on Iran last weekend indicates that this will only intensify. As bonds fell across the curve, the implied volatility of U.S. Treasuries rose the most on Monday since April. Implied - U.S. Equity market volatility on Tuesday was the highest since October as stocks all over the world fell....

Fresnillo, a precious?metals mining company, reported a?81%?surge in its annual profit on Tuesday. However, the shares of this company fell by as much as 5% due to a drop in metal prices. The London-listed firm is benefiting by the global political 'uncertainty' that fuels investment in safe haven assets such as gold. It also continues to?extend its North American presence. Fresnillo is the world's biggest primary silver producer. It reported that its earnings for 2025 before interest, taxes, depreciation and amortization increased to $2.80billion, driven by higher metals prices. It paid out $950 million, or 63% of adjusted profits, in...

Futures for Canada’s main stock index fell on Tuesday as a global stocks slump deepened amid an?intensifying conflict in the Middle East. Meanwhile, prices of precious metals dropped on a stronger U.S. dollar. As of 5:36 a.m., March?futures for the S&P/TSX Composite Index were down 1.93%. ET. Investors became more concerned about inflation as a result of the increase in energy prices due to conflict in the Middle East. U.S.?S&P500 e-minis futures were down by 1.8% and Nasdaq100 E-minis dropped 2.3%. U.S. President Donald Trump sought Monday to justify an open-ended, broad war against?Iran while indicating that the goals and...

Rio Tinto announced on Monday that the Government of Canada had conditionally approved a non-repayable?contribution of up to $13,86 million (?C$18.95) for the'miner's gallium metal research and development project. According to the statement of the firm, this follows the C$7M commitment by the Government of Quebec for December 2024. China's crackdown on critical minerals, such as gallium used in semiconductors and defense applications, has prompted the West to build its own domestic supply of the elements. Jerome Pecresse, Rio Tinto's Aluminum & Lithium Chief Executive, said that removing gallium from the existing refining process will create more value and strengthen...

Goldman Sachs stated Monday that the greatest risks for 'aluminium' stem from possible disruptions in export routes and raw material access through the Strait of Hormuz. They noted that the price impact should be minimal if the shipping disruptions last only a short time. The benchmark aluminium price on the London Metal Exchange has risen to its highest level in over a month after the U.S.-Israeli?strikes against Iran. Around 150 ships have been stranded in the Strait of Hormuz - the main shipping artery connecting Asia to Europe - after the commander for the Iranian Revolutionary Guards said on state...

REalloys, a rare earths company, has received a U.S. Department of Defense Contract worth up to $1.7 Million to fund the design of a metal processing facility used to?make magnets and electronic components for weapons. The Ohio-based firm received the contract from Defense Logistics Agency. It aims to process 300 metric tonnes?per annum of heavy rare earths, samarium, and gadolinium to metal form. This would make the company one of the largest U.S. suppliers of these metals. Rare earths are first converted into metals before they can be used in?magnets. China has placed export restrictions on rare earths, critical minerals...

The war between the U.S. & Iran is likely to cause a prolonged disruption in Middle East aluminium imports, which will hit European and U.S. consumers the hardest. This is because they are heavily reliant on this region for supply. The U.S.,?Israel and other countries attacked Iran on Saturday in a move which could result in the closure of Strait of Hormuz. This important trade route was disrupted due to Iranian attacks against U.S. military base. The impact of sustained disarray will be significant According to BNP Paribas commodities analyst David Wilson, the Arabian Gulf has around 7 million tons...

Gold as a safe-haven asset gained on Monday due to escalating fears of a prolonged conflict in the Middle East following?U.S. Israeli and U.S. strikes against Iran have boosted the price of safe-haven gold. Gold spot gained 2%, to $5,384.41 per ounce, by 1406 GMT, after reaching a session-high of $5,418.50. Prices reached a record high of $5,594.82 in January. U.S. Gold Futures increased 2.9% to $5.397.40 per ounce. David Meger is the director of metals trading for High Ridge Futures. "I believe that it is the uncertainty that will more than likely'support prices. The U.S. and Israeli air war...

Hudbay Minerals announced on Monday that it would 'buy the shares in Arizona Sonoran Copper Company it doesn't already own for $1.48 Billion. The?Canadian mining company is expanding?its footprint?to?capitalize?on?the increasing demand for?the red metal. Hudbay Minerals shares listed in the U.S. fell by 1% before market. Copper, an important metal used in the construction and power industries, will benefit from a surge in demand due to electric vehicles and AI infrastructure. As countries around the world increase their efforts to reduce reliance on China, miners are consolidating. Anglo American announced a merger with?Teck Resources worth $53 billion in stock last...

According to a court ruling, a Brazilian court ruled on Tuesday that Canadian firm Equinox Gold could not transfer mineral rights it acquired in Latin America to Chinese metals mining and processing group CMOC Group. Equinox Gold 'concluded a sale of gold assets located in?Brazil, to CMOC for $1 billion earlier this year. The judge 'blocked' the transfer of assets in the northeastern state of Bahia. The decision was made after complaints by the local state-run company CBPM which leases the mineral assets. They claimed that the deal violated the?leasing agreement. The press offices of CMOC Group Brazil and Equinox...

Two people who are familiar with the discussions say that Japan and India are in talks to explore rare earth deposits together in Rajasthan's arid state. Tokyo is looking to reduce its reliance on China as a source of magnet manufacturing supplies. India's Mines minister G. Kishan Reddy announced last month that three hard rock deposits of rare earth oxides containing 1,29 million metric tonnes had been identified in Rajasthan state and Gujarat in western India. Sources directly involved in decision-making said that Tokyo expressed interest in the Rajasthan deposits, and planned to send experts there. The sources declined to...

Analysts and traders said that some Chinese steel exporters had'stopped offering to Middle East customers as the conflict with Iran chokes the shipping through the Straits of Hormuz. Shipping through the Strait of Hormuz, between Iran and Oman, has come to a halt as a result of the conflict with Iran. Iran has retaliated by attacking vessels in the region as a retaliation for U.S. The straits not only handle a significant portion of oil trade but also a major route for China's exports of steel to the Gulf. This region has grown to be its second biggest market and...

SQM, a lithium producer in Chile, expects the first quarter of 2026 to be a record-breaking period for sales, with a 15% increase over the previous year. The company is experiencing a strong demand for increased volume from Asia-Pacific clients, especially in China. KEY GUIDANCE * Lithium price in the first three months is expected to be "substantially" higher than the fourth quarter level of?approximately 10 per kilogram. The full-year 2026 lithium price is expected to be closer to the current levels than 2025's lows, but volatility is anticipated. The total?lithium production is expected to reach approximately 260,000 metric tonnes...

Iron ore prices recovered from earlier losses and traded higher on Monday as investors focused their attention on potentially?higher shipping rates after the Iran conflict, along with falling shipments?from major suppliers. The most traded iron ore contract on China's Dalian Commodity Exchange closed the daytime trading 0.87% higher, at 754.5 Yuan ($109.64). As of 0731 GMT, the benchmark April iron ore traded on Singapore Exchange was up 0.85% at $99.2 per ton. In a recent note, Zhengxin Futures analysts stated that the rising oil prices due to the U.S. - Iran conflict?increased freight costs and therefore supported iron ore prices....

Hong Kong's?Census and Statistics Department?data on Friday showed that China's net gold imports through Hong Kong rose by 68.7% compared to December. Data showed that the world's top gold consumer imported 20.585 net metric tons of gold in January. This is up from 12.205 tonnes in December. China is the largest gold buyer in the world. Its purchases can have a significant impact on global gold markets. Hong Kong's data might not be a complete picture of Chinese gold purchases, as it is also imported through Shanghai and Beijing. China's total gold imports via Hong Kong increased by 30.4% to...

Iron ore futures recouped their losses on Friday. A tight physical market and high port margins for seaborne ore supported prices. However, upcoming steel production cuts, as well as a tepid demand for feedstocks, curbed the upside. The most traded May iron ore contract on China's Dalian Commodity Exchange (DCE), which ended the daytime trading 0.27% higher, was 750.5 yuan per metric ton ($109.47). The contract has fallen by 0.8% in the last week and by 5.67% for this month. As of 0705 GMT, the benchmark April iron ore traded on the Singapore Exchange was $98.45 per ton. The contract...

As prices rebounded, India's gold?discounts widened the most in 10 months. Meanwhile, China's demand increased as its safe-haven appeal was reflected in the rising premiums of the bullion after the markets returned from Lunar New Year. Indian bullion dealers offer a discount This week, you can save up to $65 on official domestic gold prices - including 6% import duties and 3% sales taxes. Last week, the discount was up to $18. Retail buyers are not ready to purchase at these prices. "For many of them, current prices are just too high to afford," said Ashok JAIN,?proprietor at Mumbai-based wholesaler...

The gold discounts in India reached their largest?in ten months, as a rise in prices?curbed the demand. Meanwhile in China the demand increased as the safe-haven appeal of bullion was reflected in the rising premiums following the return from the Lunar?New?Year holiday. Indian bullion dealers offer a discount This week, you can save up to $65 on official gold prices - including 6% import duties and 3% sales taxes. Last week's savings of up $18 per ounce were included. Retail buyers are simply not ready to purchase at these prices. "For many of them, current prices are just too high...

Three sources reported on Thursday that global aluminium producers offered Japanese buyers premiums between $220 and $250 per metric tonne for shipments from April to June. This is an increase of?13% - 28% over the current quarter, reflecting higher overseas premiums. Japan is one of the largest Asian importers of metal. The benchmark for the region is the premium it pays for primary metals over the London Metal Exchange's cash price each quarter. Japanese buyers have agreed to pay $195 per ton as a premium for the quarter January-March The increase in sales is due to fears of a tightening...

Iron ore futures were unable to find direction on Thursday, as traders considered the reduced demand for feedstock due to upcoming production cuts and signs that Beijing would?implement additional property stimulus measures. As of 0302 GMT, the most-traded contract for May?iron ore on China's Dalian Commodity Exchange was trading 0.4% lower. It was 745.5 Yuan ($108.91), per metric ton. The benchmark March ore price on the Singapore Exchange fell 0.27% to $98.4 per ton. Chinese steelmakers in the northern region of China will have to reduce production by 30% or more starting March 4, to maintain clean air during the...

China's dominance in critical mineral supply chain is not as absolute as it might appear. Cobalt is an example. According to the International Energy Agency, China will account for 78% global refined output of battery metal by 2024. It lacks significant mining capacity at home, making it heavily dependent on imports. The export controls of the Democratic Republic of Congo have exposed this vulnerability. This is the biggest?source of cobalt intermediate products? for Chinese processors. Congo suspended exports of cobalt in February and implemented a quota-based system in October. The fourth quarter of the year saw a near-standstill in shipments...