Mining

Gold rose to a seven-week high Thursday, continuing gains into a fourth session as the hopes of reopening the Strait of Hormuz helped ease fears of inflation and rising interest rates. Gold spot was up 0.4% to $4,261.86 an ounce at 1125 GMT after hitting its highest level in June 18 earlier. Gold bullion rose to $4,267.24 an ounce on Wednesday, its highest daily gain since February. U.S. Gold Futures increased 0.4% to $4321.40. Gold tries to hold on to its recent gains amid increasing optimism surrounding the Strait of Hormuz. The hope for a diplomatic victory that restores oil...

Albemarle's quarterly profit was higher than expected on Wednesday due to a rise in the price of the ultra-lightweight metal. The results showed an improvement in market conditions after a glut of lithium forced the company and its peers to reduce staff last year. Albemarle reported that the average price they?received? for their lithium increased 61% and its'sales volume? increased 11%. In a recent statement, CEO Kent Masters stated that "we continue to see resilient demand fundamentals across all of our core markets including energy storage, electrical vehicles, and semiconductors." The company's second quarter net income was $480 million or...

The gold price climbed to its highest level in nearly seven weeks on March 3. It is on track to be the largest daily increase?since the beginning of February, due to the lower Treasury yields and the?hopes of progress regarding the opening of the Strait of Hormuz. By 2:15 pm, spot gold had risen 4.4% to $4253.36 an ounce. ET (1815 GMT), it had reached $4,264.93 - its highest level since June 18 - and was above the 50 day moving average which now supports gold at $4,160. U.S. Gold Futures for December Delivery rose by 3.7%, to $4,305.20 an...

As investors awaited the Federal Reserve's next policy move, gold rose more than 2% to a?month high on Wednesday as hopes for a?U.S. Iran peace deal tempered inflation fears. By 0836 GMT, spot gold had risen 2.2% to $4164.13 an ounce, its highest since July 7. U.S. Gold Futures rose by 1.7% to $4223.60. U.S. president Donald Trump stated that his administration had "very positive discussions" with Iran on Tuesday during the all-day talks, which fueled expectations of an impending end to the five-month conflict. There are signs that a Gulf ceasefire agreement is in the works, and Treasury yields...

President Donald Trump stated that his administration had "very positive discussions" with Iran on Tuesday during the all-day talks, which fueled expectations of a quick end to the five-month conflict. In Asian trade, oil prices dropped and stocks soared on Wednesday following Wall Street's record highs. This was on the hope that a deal would soon be struck to restore traffic in the Strait of Hormuz. Trump said on Fox News' "@ night" program that the negotiations lasted all day. Trump said that the Strait of Hormuz would be opened very soon. If they retreat again, they will be hit...

Lockheed Martin is in discussions to purchase two vital minerals from U.S. mining companies, according to two sources who are familiar with the talks. This comes as President Donald Trump "pressures" defense contractors to reduce their reliance on China. Sources said that the world's largest defense contractor, Lockheed Martin, is in talks with NioCorp Developments to supply scandium and?Teck Resources for germanium. Both minerals are used by military equipment, from aircraft components to sensors for infrared, according to these sources. The deals are a major step forward in the U.S. effort to build up domestic mineral supply chains. However, there...

Mining firms in 'Zambia' have set their priorities for the upcoming elections. These include a stronger incentive for processing minerals, revitalizing exploration, and 'expanding electricity generation'. They say these measures are necessary to achieve the country's target of tripling its copper output. Africa's second largest copper producer aims to triple its current output, reaching 3 million metric tonnes, in order to capitalize on the growing demand for metals used in construction, EVs, and power networks. The demand for copper has led to a 40% increase in the benchmark futures prices in the last year, to $14,000 per ton. Ayo Sopitan...

The price of gold climbed a little on Tuesday, as investors weighed the mixed signals from potential 'U.S.Iran' talks and awaited this week's U.S. Labor Market Reports for clues about Federal Reserve interest rate trajectory. Spot gold increased 0.2% at $4,059.81 an ounce as of 0257 GMT. Investors are awaiting reports on the U.S. labor market. These include job opening data in the afternoon, the ADP Employment Report on Wednesday, and the nonfarm payrolls numbers on Friday. "Gold is in a consolidation phase." Ajay Kedia of Mumbai-based Kedia Commodities said that if we see a weakening in the U.S. Dollar,...

Gold prices fell on Monday, as concerns about inflation and the war in the Middle East remained. The markets will also be watching the U.S. Federal Reserve policy direction this week. Spot gold dropped 0.3% per ounce to $4,030.34 by 2:00 pm EDT (1800 GMT), and U.S. gold futures for delivery in August settled at $4,090.50, a 0.4% decline. Gold has been in a trading band for over a month, roughly between $4,000 and $4200. The fact that the market may be anticipating a rise in inflation is a positive factor, particularly in July when fresh data are expected to...

U.S. Construction Spending unexpectedly dropped in June, as higher mortgage rates continued to stifle?homebuilding. Census Bureau of the Commerce Department reported on Monday that construction spending had decreased by 0.1%. The?Construction Spending in?May has been?revised. It was not reported that it had increased by 0.1% but was actually unchanged. Economists surveyed by predicted construction spending to rise 0.2%. In June, construction spending fell 3.2% compared to the same month last year. Spending on private construction projects fell 0.2% last month, but only by 0.1% this month. ?Investment in residential construction dropped 0.3%. The spending on single-family housing fell by 0.6%....

Thyssenkrupp said on Monday that it expects the planned'spinoff' of its tk -accelis division, which deals with materials trading, to take effect at the end October. This was according to comments for a upcoming shareholder meeting posted on the company website. Thyssenkrupp said it will register?the spinoff? in the relevant commercial registries by the end of August. Thyssenkrupp, aiming to become a holding firm, announced plans in June to spin off its division, which accounts for almost a third of group sales. At an extraordinary meeting, shareholders will vote on whether or not to spin-off 49% of division. In an...

Holcim Group, a Swiss building materials company, announced on Sunday that it intends to sell its Philippines business to China’s Huaxin Building Materials. The deal could generate at least $807 million. Holcim is selling a 68% initial stake at $527 million. The remainder will be sold in the next 3 to 5 years for $290 million. Holcim stated that the total valuation would be $807 million. However, this figure could increase "based on incremental values created during?this time period". The money raised will be used for?large acquisitions as well as further investments in Holcim’s existing business. After spinning off their...

On Thursday, copper prices reached their highest level in six months as concerns over tightening supplies outside of the United States coincided with the reduced supply of concentrates from 'Democratic Republic of Congo. Benchmark three-month Copper on the London Metal Exchange reached $14,275.50 per metric ton at 1005 GMT, up 1.2% from $14,369.5. This was the highest price since January 29, 2014, when it hit $14,527.5. Congo has banned the export of cobalt and copper concentrates as part of its efforts to "force domestic processing" and retain more value in their mineral resources. This development increased concerns about supply, and...

After a recent rally of three sessions, copper prices fell on Thursday, after reaching a new '12-week high. The price increase dampened demand from the top consumer, China, and investors were taking profits. This was offset by tightening supply outside of the United States. Benchmark?copper? on the LME dropped 0.35% at $7,060.50 per metric ton by 0700 GMT after reaching $14,178 an hour earlier, its highest level since May 13. The most active copper contract on SHFE closed at 107330 yuan (15,903.33) per ton after briefly reaching the highest price since May 2014. Yangshan Copper Premium Since July 22, a...

Due to lower Treasury yields, and the 'hopes' for progress in opening the Strait of Hormuz, gold prices rose a record high on Wednesday. By 12:50 pm, spot gold had risen 4.1% per ounce to $4242.96. At 1650 GMT, gold had reached $4,258.99 - its highest level since June 18 - and was above the 50 day moving average. It now stands at $4,160. U.S. Gold futures for delivery in December rose by 3.6%, to $4.303 per ounce. Early adopters are returning to precious metals, as the probability of rate hikes has decreased since last week. The dollar is down...

The?price of copper remained above the psychological $14,000 per metric ton mark on Wednesday. This was due to the fact that inventories at the London Metal Exchange fell as more metals were brought into the U.S. Ahead of possible tariffs on refined Copper. The benchmark three-month copper price on the LME remained unchanged at $14,066 per metric ton as of 1004 GMT. On Tuesday, the contract reached $14,117, which was its highest level since last May 14. The daily LME stock data revealed that more metal had been removed from LME-registered storage facilities in Asia. Total stocks are now at...

South 'Korean stocks closed at a record high for a week on Wednesday, as heavyweight chipmakers rallied in response to strong U.S. earnings. They also showed evidence of massive AI capital expenditure. Meanwhile, lowering oil prices eased inflation concerns. The benchmark KOSPI closed 3.8% higher, at 6,598.26. This was its highest closing since July 27. The junior Kosdaq rose 2.4%, reaching a new closing high of three weeks. Chip stocks rose by a record amount overnight, thanks to strong earnings from AI companies. SpaceX also boosted chip stocks with its massive expenditures. The Philadelphia Semiconductor Index jumped?6.6%. Samsung Electronics, a...

Copper prices rose on Wednesday, but remained below the highs of yesterday. This was due to a combination of waning inventories and improving risk sentiment. Benchmark 'three-month copper' on the London Metal Exchange was up by 0.18% to $14,091.5 per metric ton at 0700 GMT. The Shanghai Futures Exchange's most traded copper contract rose by 0.96%, to 107.340 yuan (15,908.82 dollars) per ton. Prices reached a two-month peak on Tuesday and surpassed the psychological $14,000 per tonne for the first since early June. Red metal prices have been boosted by a decline in inventories, as more material has been brought...

Prices in London fell from their 'previous day highs, but they remained stable on Wednesday. The benchmark three-month copper price on the?the?London Metal Exchange fell 0.24% to $14,033 per metric ton at 0300 GMT. The Shanghai Futures Exchange's most traded copper contract rose by 0.75%, to 107 120 yuan (about $15,877.39). Prices reached a two-month peak on Tuesday and surpassed the psychological $14,000 per tonne for the first since early June. Analysts from Chinese broker Everbright Futures stated in a report that high copper prices have begun to weigh on demand and raise questions about the strength in seasonal demand...

Gold rose for a third consecutive session on Wednesday. This was helped by a softer dollar and lower crude oil prices. Investors were waiting for U.S. job data to get clues about the interest rate outlook. As of 0253 GMT, spot gold rose 1.3% to $4,127.04 an ounce. U.S. Gold Futures increased 0.8% to $4184.40. Holders of currencies other than the U.S. Dollar will find greenback-priced precious metals more appealing. After two steep drops, oil prices have stabilized. Lower oil prices can ease inflation fears that often fuel expectations of higher interest rate. Qatar claimed that mediators are making progress...

The copper price rose on Tuesday as a result of falling inventories. Oil prices also remained stable, despite conflicting statements from the U.S.A. and Iran that 'clouded the prospects for a diplomatic solution to the long-running war. As of 0700 GMT the benchmark 'three-month copper' on the London Metal Exchange was up by 0.69% at $13,952 per metric ton. The most traded copper contract on Shanghai Futures Exchange rose by 0.86% and closed daytime trading for 106,650 Yuan ($15794.62) per ton. Copper stocks at LME registered warehouses As of Friday, inventories had fallen to 244,025 tonnes from about 400,000 tons...

The copper price rose on Tuesday due to falling inventories. Oil prices remained stable despite conflicting statements from the U.S. The benchmark three-month contract for copper on the London Metal Exchange rose?0.60% to $13,953 per metric ton by?0331 GMT. Meanwhile, the most traded copper contract on Shanghai Futures Exchange rose 0.91% to $15,792.90 per ton. Copper stocks at LME registered warehouses As of Friday, inventories had fallen to 244,025 tonnes from around 400,000 in April. The SHFE tracks inventories The number of tons has dropped from 430,000 to 69,300. The decreases have resulted in a tightening of the supply available...

Donald Trump is expected to participate in a roundtable with?mining executives on Friday, hosted by the United States. According to two people who are familiar with the plans, State Department. The event is a part of the Trump Administration's efforts to increase domestic and allied supply of critical minerals required for energy, defence and advanced technology. According to sources, the agenda, participants, and other details are fluid and could change. The administration has prioritized securing vital minerals supply chains, and is taking steps to increase domestic production, decrease reliance on China, and strengthen partnerships with its allies. It argues that...

On 'Monday, copper prices rose to their highest level in over a week as lower oil prices eased concerns about the economy and demand. The market was also focused on shrinking inventories. Benchmark copper on the London Metal Exchange increased 0.6% to $13,875 per metric ton, after reaching $13,900. This was its highest price since July 22. The drop in oil after U.S. president Donald Trump cancelled a new attack on Iran to?seek a deal?to curb Tehran's nucleonic ambitions also eased concerns about price pressures, according to traders. Britannia Global Markets stated in a report that "the markets are still...