Mining

Gold prices rose on Friday as the dollar weakened, but were on course for a weekly decline on fears that the escalating tensions between the U.S. and Iran could fuel inflation. This would keep the U.S. Federal Reserve in a hawkish policy direction. As of 0303 GMT spot gold was up by 0.2%, at $4,128,92 per ounce. It is heading for a weekly decline of over 1%. U.S. Gold Futures for August Delivery were unchanged at $4,139.50. Dollars were at their lowest level in a week, which made greenbacks priced bullion more accessible to holders of other currencies. Tim Waterer...

Gold?fell? on Thursday and hovered?near a?one-week-low set in 'the?previous?session, as renewed U.S. - Iran hostilities raised oil prices, reigniting concerns about inflation, and longer-term interest rates. Gold spot fell by 0.4%, to $4,060.46 an ounce, at 0343 GMT. It had dropped to its lowest level since July 1, on Wednesday. U.S. Gold futures for delivery in August were down?0.3% to $4,069.80. The U.S. Military said Wednesday that it had launched new strikes against Iran in order to keep the Strait of Hormuz accessible to shipping. This triggered Iranian attacks on Kuwait, Bahrain and Kuwait as the latest escalation of the...

Gold prices dropped on Wednesday, as oil prices'surged' and inflation fears grew after U.S. president Donald Trump said a 'interim agreement aimed at ending conflict with Iran is over. Gold prices fell 0.9% by 2:10 pm EDT (1810 GMT), after they had hit their lowest level since the beginning of July. U.S. Gold Futures for August Delivery settled 1.8% lower, at $4.082.40 an ounce. David Meger is director of metals trading for High Ridge Futures. Iran has reacted to a flurry of hostilities by claiming that it targeted U.S. military targets in?Bahrain? and Kuwait? after U.S. forces had attacked Iranian...

Gold prices dropped on Wednesday, as oil prices soared and inflation fears intensified after U.S. president Donald Trump declared that the?interim deal aimed at ending conflict with Iran is "over". Gold spot dropped by 2%, to $4.025.67 an ounce at 11:35 am EDT (1535 GMT), after reaching its lowest price since July 1. U.S. Gold Futures for August Delivery fell 2.9% to $4.035.20 an ounce. David Meger is director of metals at High Ridge Futures. He said that the main reason for the move today was the "increased escalation" in tensions between Iran and the U.S. With a possible ceasefire...

Gold prices dropped on Wednesday, as oil prices surged and inflation fears intensified after U.S. president Donald Trump declared that the conflict with Iran is "over." Gold spot dropped 0.8%, to $4.072.69 an ounce at 09:11 am EDT (1310 GMT), after reaching its lowest level in the previous session since July 2. U.S. Gold Futures for August Delivery fell 1.8% to $4.083.20 an ounce. David Meger is the director of metals and futures at High Ridge Futures. Iran has escalated hostilities after U.S. forces attacked Iranian targets as a response to attacks against tankers in Strait of Hormuz. Crude oil...

After fresh hostilities threatened an interim ceasefire agreement in the Middle East, copper prices fell on Wednesday. This sparked concerns about the economic growth and metal supply. The benchmark three-month copper price on the London Metal Exchange fell?1.2%?to $13,210 per metric ton at 0950 GMT after dipping 0.3% the previous session. After the United States President Donald Trump declared that the Gulf Conflict was "over", after both sides exchanged attacks, the oil prices soared and the global stock market fell. Brent crude?stood more than 5% higher, but was still trading well below the highs of the Iran War. Ole Hansen...

Polyus, Russia's biggest gold producer, announced on Wednesday that it would?suspend all dividend payments until 2030 in order to finance large-scale investment projects. The company stated that the management intends to make a recommendation to the board of directors following a "thorough assessment of the current economic environment". The planned suspension of dividends reflects the high borrowing costs, increasing production expenses, lower prices for gold and risks associated with investment project timelines. Polyus shares fell by nearly 20% on the Moscow Exchange. Gold prices are now around 75% higher than they were two years ago, despite a 26% drop from...

In a Tuesday statement, Canada's Natural Resources Ministry announced that the government could invest up to C$400m ($281.93m) in Teck Resources to expand the facility Trail Operations in British Columbia to produce strategic metals. Tim Hodgson of Canada's Natural Resource Minister said that because there is no equity that can be purchased, the investment would be made in a facility in Trail whose value will fluctuate with production. The agreement includes a framework agreement for an "offtake agreement" from the Canadian Government to secure Teck's rights for future production of rare-earth metals like germanium, gallium, and antimony. These?metals can be...

In a statement released on Tuesday, Canada's Natural Resources Ministry announced that the government could invest up to C$400,000,000 ($281.93,000,000) in Teck Resources to expand the facility Trail Operations in British Columbia to produce strategic metals. The agreement includes a framework agreement for an offtake contract from the Canadian Government to "secure rights" for Teck's production of rare earths metals like germanium, gallium, and antimony. These metals are widely used in industries like infrared optical systems in defense, semiconductors and radar systems. Teck plans to invest C$850m to maintain and improve critical minerals processing capacity at Trail Operations. The Canadian...

Metals trading and the world it operates in is constantly changing. Political and military conflict has shattered what was once a highly globalised supply chain into regionally different parts. Metals are moving away from the single benchmark global set by the 149-year old London Metal Exchange (LME), which is now owned by Hong Kong Exchanges and Clearing. This changing reality is evident in the opening of the Shanghai Futures Exchange (ShFE) nickel contract for overseas firms. Shanghai has already become the leading force in China in terms of establishing benchmark metals price in its domestic market. ShFE wants to expand...

Lynas?Earths 'announced on Tuesday that it had signed a deal with South Korea JS Link for the development of a magnet plant in Malaysia. JS Link, a magnet manufacturer in?South Korea, and the Malaysian factory planned by JS Link will receive rare-earth material from the Australian producer until January 2038. This partnership comes after a magnet manufacturing agreement between the two companies in last year. Under the new?deal, JS Link is going to establish a permanent magnet factory in Kuantan (Malaysia) with 3,000 tonnes of neodymium, iron, and boron (NdFeB). Lynas stated that it will invest a total of?about A$50m...

Eni, the Italian energy company, announced on Monday that it had signed a deal to purchase a 25% stake of?Black Giant?a subsidiary owned by EnergyX?a U.S. start-up developing a lithium?project?in Chile. Eni will be able to access EnergyX's innovative proprietary technologies for lithium production and?secure the possibility of getting up to one-fourth of Black Giant's future output, it said. Eni's $225 million investment will give it access to EnergyX proprietary lithium technologies and the chance to obtain up to a quarter of Black Giant future production, according to the Wall Street Journal report. Eni owns a small minority stake in...

Copper prices were flat on Friday as fears faded of an economic hit and a drop in metal demand due to a spate of tit for tat attacks between the U.S.?and Iran. The benchmark three-month copper price on the London Metal Exchange was?largely steady, with a drop of only 0.01% at $13,487.5 per metric ton as of 0700 GMT. The red metal prices are now close to the levels they were at the beginning of the week. This is the culmination of a few volatile days, during which fears about a new round in the conflict between the U.S. Prices...

The weakened?dollar helped copper to rise on Friday. This eased fears about a spate of?tit-fortat strikes between Iran and the U.S. The benchmark three-month copper price on the London Metal Exchange rose 0.29% to $13,528 per metric tonne by 0300 GMT. The Shanghai Futures Exchange's most traded copper contract rose by 1.61%, to 103950 yuan (about $15,334.80). This week, the LME saw a 1.2% rise. It was a volatile week in which fears of inflation and macroeconomic risks were raised by a new round of fighting between the U.S. The dollar is on course to drop for a third day...

The Iran War has caused a supply shock that is reviving the old Western aluminum smelters. Magnitude 7 Metals in the U.S. is reactivating its New Madrid smelter located in Missouri. Over the Atlantic, Norwegian producer Hydro announced the partial restart of the Slovalco joint-venture smelter. The two plants were idled due to low aluminum prices and a spike in energy prices that followed the Russian invasion of Ukraine. Washington and Brussels are both desperate to reduce their reliance on an import of a metal used in a wide range of industries. The return of these zombies smelters will not...

The dollar, which had recently surged, was stabled and copper rebounded on Thursday as the market looked beyond the escalation of Gulf hostilities. Benchmark three-month copper on the London Metal Exchange was up 1.62% to $13,379 per metric ton at 0700 GMT. The Shanghai Futures Exchange's most traded copper contract rose 0.16%, to 103.160 yuan (15,182.65) per ton. This was a slight improvement from the earlier drop of 1.32%. Although the copper market is still watching Middle East conflict developments closely, investors have "tended to price in an expectation that any escalated tensions will be brief and a solution?will be...

Aluminum prices increased on Tuesday, as markets considered the potential for a tightening of supply amid Middle East tensions. Benchmark 'three-month' aluminium at the London Metal Exchange rose 0.5% by 1009 GMT to $3,129 per metric ton, nearing resistance from the 200-day average of $3,161. A ship was struck overnight in the Strait of Hormuz, and Iran announced that there would be no peace talks unless Donald Trump stopped threatening to restart war. As optimism grew over the prospect of Gulf supply via Hormuz, aluminum prices fell 16% in June, their biggest monthly drop since 2008. Aluminium is still oversold...

Official data released on Tuesday showed that China's central banks reported its biggest monthly increase in gold reserves for more than two and a half years in June, even though bullion prices fell. The People's Bank of China reported that the central bank of China continued to purchase gold for the 20th consecutive month. Its reserves reached 75.44 million fine troy ounces at the end of the month compared to 74.96 million a month before. This was the largest monthly increase since October 2023 when the holdings increased by 740,000 pounds. Data showed that the value of gold reserves in...

CATL, a Chinese company, has received a safety production permit for the flagship Jianxiawo Mine. This is a major regulatory hurdle that will allow production to resume after a nearly year-long suspension. According to Credit China, an official website that tracks corporate and individual compliance, the Chinese battery giant obtained the permit on 29 June. It will be valid until 27 February 2028. CATL announced in August that it had ceased operations at the Jianxiawo Mine, located in eastern China's Yuchun city, when its previous license expired. The stoppage triggered a temporary rise in the price of lithium futures, and...

The price of aluminium fell on Tuesday, as the market continued to assess the supply situation and the broader macroeconomic outlook. Benchmark three-month aluminum on the London Metal Exchange was?down by 0.16% at $3,110.5 per metric ton as of 0300 GMT. It had?risen to a high of one week earlier in the day before falling in line with the rest of the base metal complex. The Shanghai Futures Exchange's most traded aluminium contract increased 0.33% to 22,910 Yuan ($3,373.53) per tonne. This will be the fourth consecutive daily increase. Aluminium stabilized over the past week after being battered in the...

Prices of aluminium rose on Monday, as attention shifted back to forecasts about shortages caused by disruptions in Middle East supplies and shrinking stocks. Benchmark Aluminium on the London Metal Exchange was up by 0.8% at $3,115 per metric ton?at 1603 GMT. It fell to $3,040 - the lowest level since February 19 - as optimism grew over a possible resumption in Middle East supplies. The Middle East is home to 9% of the world's aluminium smelting capacities. Even if the Strait of Hormuz is reopened, this market will still see a deficit in 2018. Macquarie analysts expect Middle East...

Japan's Topix index of stocks?climbed for the sixth consecutive day on Monday as the decline in oil prices and positive momentum in global markets boosted investor confidence. The?Topix rose?0.50%, marking its longest winning streak in August 2025. The Nikkei, heavily weighted with tech shares, was down by 0.16% at 69,630.74. Investors kept an 'alert eye' on the central bank policies. The?Federal Reserve, under its Chair Kevin Warsh signaled a hawkish position, and the Bank of Japan was expected to tighten further. The markets were also able to breathe easier due to an increase in the oil production targets and the...

The market was expecting a better supply of aluminium from the Middle East as a U.S. Iran interim peace agreement appeared to be holding. In official open-outcry trade, the benchmark three-month 'aluminium' on the London Metal Exchange was?down by 0.2% to $3,086 per metric ton. Citi analysts said that "weaker demand, eased geopolitical risk and increasing expectations of future supplies have led to a sharp price correction over the last month." Citi expects aluminium prices to recover towards $3,300 per ton between September and December before hitting a bottom within a week. Metal touched $3,040 on Thursday, its lowest since...

Aluminum prices edged higher on Thursday as signs of strength in the manufacturing industry supported their rise. Benchmark?aluminium for three months on the London Metal Exchange rose 0.59% to $3,094 per metric ton by 0300 GMT. The most-traded aluminum contract at the Shanghai Futures Exchange increased 0.09%, to 22,505 Yuan ($3,316.83). The manufacturing strength was evident in the prices of light metals used for transport, packaging, and construction. China, Europe, and the U.S. released data on Wednesday that showed manufacturing strength, despite higher input prices. The price of aluminium has dropped in the past two weeks due to the peace...