Mining

On Saturday, U.S. president Donald Trump met with Ecuadorean president Daniel Noboa at a hotel in Florida. The meeting came ahead of the tight run-off vote on April 13, which will pit Noboa and leftist Luisa Gonzales against each other. Noboa was elected to finish the remaining term of his predecessor in 2023 on the promise to fight drug gangs which have caused turmoil to the once tranquil South American nation. Trump made combating the fentanyl that is responsible for 70,000 deaths per year in the United States a major pillar of his second tenure in office, by imposing tariffs...

Gold, the safe-haven asset, hit a new record high Friday. An index of global stocks fell as investors worried about a trade war that could be triggered by Trump's tariff decisions. The latest inflation figures were a source of frustration for U.S. traders, but Trump's 25% auto import tariff and his plans to impose a much wider levies on next week continued to be a cause for concern. All three major Wall Street indexes finished lower, and recorded their third consecutive loss. Communication services, consumer discretionary and technology stocks were the biggest losers. Utilities stocks finished higher. The Dow Jones...

Wall Street stocks finished sharply lower Friday with sales in Amazon, Microsoft, and other technology giants. U.S. statistics stoked concerns of weak economic growth, high inflation, and the Trump administration's escalating tariffs. The U.S. consumer's spending in February was less than expected, while an indicator of prices underlying the data rose at its highest rate in 13 months. A University of Michigan study showed that in March consumers' expectations for 12-month inflation had risen to their highest level in almost 2-1/2 years. They also expect inflation to continue to rise beyond the next 12 months. This data fuelled fears that...

Gold, the safe-haven asset, hit a new record high Friday. An index of global stocks traded lower as investors worried about a trade war that could be triggered by Trump's tariff decisions. The latest inflation figures were a source of frustration for U.S. traders, but Trump's 25% auto import tariffs and his plans to impose even more levies in the coming week continued to be a cause for concern. All three major Wall Street indexes lost ground, and they were headed for their third consecutive session of losses. Communication services, consumer discretionary and technology stocks were the biggest losers. Utilities...

Donald Trump, the U.S. president, said that he and Canadian Prime Minister Mark Carney had a productive phone call on Friday. The two leaders will meet next month after Canada's upcoming election amid increasing tensions between the neighbors. Trump said on his Truth Social platform that the call was extremely productive. The two leaders agreed on many points and would meet immediately after Canada's election, which is scheduled for next month amid increased tensions between neighboring allies. He added that the work "will be great for both Canada and the United States of America." Carney's office and he have yet...

Donald Trump, the U.S. president, said that he and Canadian Prime Minister Mark Carney had a productive phone call on Friday. The two leaders will meet next month after the Canadian election. Trump posted on his Truth Social social media platform that the call was "extremely productive". We agreed on many points and will meet immediately after Canada's next election to discuss elements of Business, Politics and other factors. He added that the work would be great for both Canada and the United States. Carney's office and Carney himself have yet to comment on this call. It comes a day...

Canada is planning additional retaliation against the U.S. tariffs on autos and tariffs reciprocal to those imposed by President Donald Trump. These actions are scheduled for April. Mark Carney, the Canadian Prime Minister, said that he has not yet decided what he will do. actions Canada might take , however. Trump imposed tariffs of 25% on goods that were not compliant with the U.S. Mexico Canada free trade agreement, but deferred a 25% tariff for most Canadian goods by 30 days. He then imposed tariffs Steel and Aluminum Imports will be allowed on March 12. Here are the retaliatory actions...

On Friday, tin prices in London reached a two-week high as speculators made bets that the earthquake in Myanmar's main mining region could delay the restart of production. The benchmark tin price on the London Metal Exchange increased 2.5% by 1508 GMT to $36,140 per ton after reaching $36,635, which was its highest since March 14. If it breaks above $37.100, this would be the highest level since mid-2022. Myanmar is the third largest tin producer in the world and a major supplier of tin to China. The tin-rich Wa State mines, which provide 70% of Myanmar's total tin production,...

South Africa's currency, the rand, fell on Friday as worries lingered about President Donald Trump's tariffs in the United States and an impasse that existed between the two largest parties of the ruling coalition over the state budget. At 1507 GMT the rand was trading at 18.3975 per dollar, which is about 0.8% lower than its previous closing. After Trump's announcement that tariffs would be imposed on auto imports starting at midnight on April 3, the markets waited for more clarity. The African National Congress (ANC) and the Democratic Alliance (DA) have been fighting for weeks about a proposed VAT...

Canada is planning additional retaliation against the U.S. tariffs on autos and tariffs reciprocated by U.S. trading partner countries scheduled to begin in early April. Mark Carney, the Canadian Prime Minister, said that he has not yet decided what he will do. actions Canada might take , however. Trump imposed tariffs of 25% on March 6 on goods that were not compliant with the U.S. Mexico Canada free trade agreement, but delayed a 25% tariff for most Canadian goods by 30 days. He then imposed tariffs Steel and Aluminum Imports will be allowed on March 12. Here are the retaliatory...

Gold prices reached a record high on Friday, as fears over President Donald Trump's new tariff plans fueled fears of a trade war around the world. This prompted a rush to the gold-safe haven. As of 0230 GMT spot gold rose 0.6%, to $3,073.79 per ounce. It had earlier reached a session high of $3.077.44. Bullion has risen 1.7% this week. U.S. Gold Futures rose 0.8% to $3.083.60. Gold is riding high at the moment. "Everything is in favor of gold, including U.S. economic policy, U.S. geopolitics and the slowdown in global growth," said Capital.com financial analyst Kyle Rodda. He...

The copper price in London fell on Friday, and is on track to lose money for the week as unease about looming U.S. Tariffs weighs on sentiment. As of 0231 GMT, the benchmark three-month Copper on the London Metals Exchange slid 0.05%, to $9,842 per metric ton. Prices were down by 0.1% for the week. Last month, U.S. president Donald Trump ordered an investigation into possible tariffs on imports of copper to rebuild U.S. manufacturing. Trump's promise to announce new, sweeping tariffs is also causing concern in the markets. He has already announced that 25% of imported cars will be...

Two people familiar with this matter say that Blackstone, a private equity firm, is considering a minor minority investment in TikTok’s U.S. operation. Blackstone has discussed joining the existing non-Chinese shareholders of ByteDance, including Susquehanna International Group, General Atlantic and General Atlantic to contribute fresh capital in order to bid for TikTok’s U.S. operations. The group is the front-runner. The proposal involves spinning off TikTok’s U.S. operation into a separate company and reducing Chinese ownership to below the required 20% threshold by U.S. laws. TikTok General Atlantic and Blackstone have declined to comment. Susquehanna has not responded to a comment...

ArcelorMittal Nippon Steel India announced on Friday that it will acquire land in southern Andhra Pradesh in order to build an integrated steel facility as part of the company's plan to expand in the country. In a press release, the company said that possession is expected to be soon. The company stated that the greenfield project has an initial capacity of approximately 7.3 million metric tons per year. India is pushing to increase domestic manufacturing. The country's goal is to reach 300 MTPA crude-steel capacity by 2030. ArcelorMittal Nippon Steel India, a 60-40 joint-venture between Luxembourg's ArcelorMittal & Japan's Nippon...

Copper prices in London fell on Friday due to a lack of risk appetite, ahead of the deadline next week for U.S. broad reciprocal tariffs. This was due to deteriorating global growth prospects and an easing of stimulus to get copper to the U.S. before possible tariffs. The benchmark three-month copper price on the London Metal Exchange fell 0.5% to $9,799 per metric tonne by 1110 GMT, after having hit $9,739 as its two-week-low. Metal, which is used in construction and power, has risen 12% so far this quarter. It's on pace to have its best growth quarterly in four...

The gold demand in India was sluggish due to record-high prices, and jewellers busy closing their accounts for the year. Most other Asian hubs saw a similar trend. Harshad Ajmera, a wholesaler at JJ Gold House Kolkata, said that "Jewellers weren't making purchases." India's fiscal year runs from April through March. The domestic gold price hit a new record of 89 796 rupees for 10 grams in the first week of this month. It has risen by nearly 15% since 2025. This week, Indian dealers offered a discount Discounts of up to $33 per ounce on official domestic prices, inclusive...

The scheduled announcement of U.S. President Donald Trump on April 2, 2019 could remove the fog of uncertainty that has engulfed financial markets in this year. However, few investors expect definitive guidance. Investors were optimistic about the pro-growth policies of Trump's government in 2025, but since his inauguration, the stock market has plummeted. Wall Street was thrown into turmoil by headlines about tariffs, which caused the S&P to fall as much as 10 percent earlier this month. The benchmark index will likely finish the first quarter with a decline of about 3%. This is its largest drop for the first...

The price of iron ore futures fell on Friday due to rising concerns about a trade war, but they posted a gain for the week on stronger demand in China, which is the world's largest steel-making consumer. The May contract for iron ore on China's Dalian Commodity Exchange ended the daytime trading 0.19% lower, at 785.5 Yuan ($108.13). The contract is up 3.09% this week. As of 0722 GMT the benchmark April iron ore traded on the Singapore Exchange had fallen 0.14% to $103.35 per ton. This week, it has gained 3.44%. Everbright Futures reported that the monthly hot metal...

The copper price in London fell to a two-week low last Friday as the unease about looming U.S. Tariffs affected sentiment. As of 0717 GMT, the benchmark three-month price for copper on London Metals Exchange (LME), fell 0.5% to $9801.5 per metric tonne. The price had fallen briefly to $9,800 - its lowest level since March 17. Prices were down 0.6% for the week. Last month, U.S. president Donald Trump ordered an investigation into possible tariffs on imports of copper to rebuild U.S. manufacturing. The markets are nervous about Trump's promise to announce new tariffs, in addition to 25% on...

The price of iron ore futures fell on Friday due to rising concerns about trade wars, but were still set to rise on a weekly basis as demand for this key ingredient for steelmaking in China's top consumer was expected. As of 0237 GMT, the most traded May iron ore contract at China's Dalian Commodity Exchange was trading 0.57% lower. It was priced at 782.5 Yuan ($107.7) per metric ton. The contract is up 2.96% this week. The benchmark April Iron Ore at the Singapore Exchange is 0.52% lower, $102.95 per ton. This week's gains are 3.14%. Everbright Futures, a...

Semafor reported that Nippon Steel is in active discussions with U.S. Steel about a deal which would preserve the $14 billion merger of both companies and ensure billions in additional investments by the Japanese steelmaker in Rust Belt plants. Nippon, in recent meetings with White House officials has offered to raise the $2.7 billion that it had offered previously to upgrade U.S. Steel plants to as much $7 billion, according to the report, which cited people familiar with this matter. Nippon Steel & U.S. Steel didn't immediately respond to requests for comment. Nippon Steel's President Tadashi Imai told reporters on...

Tesla, the electric vehicle manufacturer, was less affected by Donald Trump's auto tariffs than other automakers. Analysts said that Tesla's financial performance and supply chain may not be affected due to the large levies on global shipments, including cars and parts, to the United States. This is mainly because the company produces a majority of its products domestically. Even though Musk is now one of the primary advisors to President Trump, Musk's task may not be to improve the reputation of the brand worldwide. Musk was appointed by Trump as his chief adviser and has been tasked with cutting federal...

Copper prices fell on Thursday, after U.S. president Donald Trump announced 25% tariffs for auto imports. This could reduce metals demand. The benchmark three-month copper price on the London Metal Exchange was down by 0.9% to $9,840 per metric tonne at 1030 GMT after reaching its highest level in almost 10 months the previous session. After Trump announced auto tariffs late Wednesday, global equity markets, and especially automaker shares, slumped. It does appear that this could harm demand for automobiles and all metals used in autos. Nitesh Sha, commodity strategist at WisdomTree, said that the current situation is hurting copper...

Two sources and an official statement have confirmed that a rebel group in Myanmar, which controls one of the largest rare earth zones on earth, has informed its miners it will permit shipments of rare earth to China starting Thursday. The Kachin Independence Army (KIA), which controls the town of Panwa, and Chipwe in Kachin State is the main mining company in Myanmar. Chinese customs data show that since the group's takeover, China has seen a sharp decline in its imports of rare-earth oxides and compounds, which have driven up prices. In a letter sent to the miners of the...