Mining

Commercial Metals Company announced on Thursday that it would acquire the concrete supplier Foley Products Co. for $1.84 Billion in cash. Dealmaking is accelerating across the U.S. construction products sector as a result of a drive for scale and local supply chains. The Irving, Texas-based company said that it expected the Foley acquisition to have a positive impact on earnings and cash flows and deliver annual EBITDA synergies between $25 million and $30 million. Dealmaking has increased in the U.S. construction products industry as companies look to scale and local supply chain to offset tariffs. Demand is supported by new...

Futures linked to Canada's major stock index rose Thursday on the back of higher commodity prices. Investors awaited comments by Bank of Canada Governor Tiff MacKlem, who could provide clues about interest rate reductions by the central banks. At 5:36 a.m., December futures for the S&P/TSX Index were up by 0.2%. ET (0936 GMT). Macklem will speak at 13:30 ET on Canada's Economic Outlook. The market participants have priced in a 66% chance of a rate cut of 25 basis points at the policy meeting on October 29. Many analysts think that despite the unexpectedly strong jobs report last week,...

Treasury Secretary Scott Bessent announced on Wednesday that the Trump administration would seek to tighten its control over strategic industries by taking more equity stakes into key companies in order to counter China's export restrictions and economic policies. Bessent said at a CNBC conference that China's new restrictions on rare-earth minerals and magnets demonstrate the need for the U.S. be self sufficient in critical materials, or to rely on trusted allies more. Bessent explained that when facing an economy which is not a market economy, such as China, you must exercise industrial policy. Under Donald Trump's presidency, the U.S. has...

China has once again rolled out a big cannon to curb metals and minerals that are vital for the global energy transformation, as well key components used in weapons and electronic devices. It is no secret that when China restricts exports or threatens to do it, Western governments and businesses are concerned. They have become dependent on China's dominance in the production and processing of refined metals. China has recently decided to tighten up its export restrictions on minerals such as magnets and critical minerals. This behaviour is not without risk for China, since the cannons of export restrictions can...

Analysts said that Canadian aluminium producers increased their deliveries to the United States as the U.S. physical market prices have risen in response to the 50% tariffs on imports imposed earlier this year by President Donald Trump. Analysts said that the tariffs imposed in June were intended to increase domestic aluminium production, and to encourage investment for the metal which is used in power, construction and packaging. In the beginning, Canadian producers diverted aluminium to Europe. This flow has reversed as inventories of aluminium, which were a buffer to U.S. consumer, have decreased. Not a 'full pace' yet Jean Simard...

Gold reached the $4,200 per ounce mark for the first ever time on Wednesday. This was boosted by expectations of more U.S. interest rate cuts. Meanwhile, renewed U.S. China trade concerns also increased demand for safe haven assets. As of 0659 GMT, spot gold rose 1.4% to $4,200.11 an ounce. U.S. Gold Futures for December Delivery gained 1.3%, to $4218.0. The U.S. president Donald Trump announced on Tuesday that his administration would produce a list on Friday of "Democrat programs" which will be closed due to the federal government shut down. Matt Simpson, senior analyst at StoneX, said that the...

Gold reached a new high on Wednesday just below the $4,200 per ounce mark, boosted by expectations for further U.S. interest rate cuts. Meanwhile, renewed U.S. China trade concerns also increased demand for safe havens. As of 0604 GMT spot gold was up by 1.1%, at $4,185.59 an ounce. It had earlier reached a session high of $4193.38. U.S. Gold Futures for December Delivery gained 1%, to $4204.30. The U.S. president Donald Trump announced on Tuesday that his administration would produce a list on Friday of "Democrat programs" which will be closed due to the federal government shut down. Matt...

From Monday to Thursday, the elite Central Committee of China’s ruling Communist Party is holding a closed door meeting to discuss, amongst other things, its 15th five-year plan for development. This meeting is known as a Plenum and it's the fourth one since the Party Congress of 2022. What does it all mean? What is a plenum? Central Committee, the largest decision-making body of the party, holds seven plenums in between congresses. The fifth plenum is traditionally used to discuss five-year plans. The party will now be expected to review the 2026-2030 Plan during the Fourth Plenum, which takes place...

Gold reached a new high on Wednesday just below the $4,200 per ounce mark, boosted by expectations for further U.S. interest rate cuts. Meanwhile, renewed U.S. China trade concerns also increased demand for safe havens. As of 0252 GMT the spot gold price was up 0.8% to $4,173.56 an ounce after reaching a session high of 4,186.68. U.S. Gold Futures for December Delivery gained 0.7%, to $4192.90. The U.S. president Donald Trump announced on Tuesday that his administration would produce a list of "Democrat programs" on Friday, which will be closed due to the federal government shutdown. Matt Simpson, senior...

Shanghai copper fell on Tuesday, as tensions escalated between the two largest economies in the world, China and the United States, threatening to increase demand for the metal. As of 0315 GMT, the most active copper contract traded on Shanghai Futures Exchange fell 0.91%, trading at $8,933.60 per metric ton. Donald Trump, the U.S. president, threatened to cut off some trade relations with China on Tuesday in relation to cooking oils as a form of retaliation for China not "purposely" buying U.S. soy beans. Trump's threat was the latest escalation of trade tensions ahead of a high-stakes summit between Trump...

A trade group representing aluminum industry demanded on Tuesday a ban on U.S. imports of used beverage containers to China in order to support American productions of cars, fighter planes, tanks, and satellites. The Aluminum Association stated that the United States exports more than 2,000,000 tons of aluminum scrap each year while consuming between 5 and 6 million tons. The group demanded an immediate ban on the export of used beverage containers outside North America for national security reasons, stating that much of U.S. waste flows to China, where it is processed before being shipped back to North America as...

Integra Capital's general managing director announced on Tuesday that the company, which invests in zinc and led mining assets, had made a graphite find in northern Argentina. Graphite is a component of rechargeable batteries used in electric vehicles. It is listed on the U.S. Geological Survey's draft list of critical minerals to the U.S. national or economic security. China is the world's largest graphite manufacturer, and has restricted supplies of critical minerals for the U.S. Integra's Pablo Tarantini said that a discovery had been made in the Teo project of the Argentinean company, located in La Rioja Province. However, no...

The iron ore futures price fell by a significant amount on a weekly basis as the trade tensions between the U.S. and China weighed down on the outlook for demand. The most traded January iron ore contract at China's Dalian Commodity Exchange was unchanged by 0339 GMT. It stood at 773 Yuan ($108.52), representing a 2.8% decline so far this week. As of 0329 GMT, the benchmark November iron ore traded on Singapore Exchange was down 0.31% at $104.6 per ton. The price has fallen by 1.7% this week. The price of key steelmaking ingredients was supported by the strong...

Official data revealed that Guinea's exports of bauxite grew by 23% in the third quarter compared to the same period last year, despite heavy rains and regulatory obstacles. According to the data reviewed on Wednesday by the Ministry of Mines and Geology, shipments of the critical aluminum feedstock increased to 39.41 millions metric tons, from 32 million metric tons in Q3 of 2024. The bulk of the shipment was sent to China. Guinea, which is the second largest bauxite exporter in the world, shipped an average of 13.14 million tonnes per month in Q3, a 19% drop from the first...

Dalian iron ore prices fell further on Thursday to a six-week low, due to the expectation of a fall in demand from China, their biggest consumer. The January contract for iron ore on China's Dalian Commodity Exchange ended daytime trading 0.89% lower, at 773.5 Yuan ($108.56), after hitting its lowest level since September 1, at 766.5 Yuan. As of 0809 GMT, the benchmark November iron ore price on the Singapore Exchange had slipped 0.02%, to $105.1 per ton, as hopes for further rate cuts by the U.S. Federal Reserve helped to curb some losses. On Wednesday, the contract reached a...

Shanghai copper rose on Thursday as investors focused their attention on the supply risks, with several countries warning of a tumbling fee for processing, and U.S. China trade tensions ahead of a high-stakes summit between leaders from both nations. The Shanghai Futures Exchange's most active copper contract closed the daytime trading at 85,050 Yuan ($11,938.18) a metric ton. As of 0703 GMT, the benchmark three-month price for copper at the London Metal Exchange was down by 0.13%, to $10,627 per ton. Japan, Spain and South Korea expressed concern on Wednesday over the plummeting treatment and refining fees (TC/RCs) for copper....

The U.S. Judge said on Wednesday that he is ready to approve Rio Tinto’s agreement to pay an amount of $138.75 millions to settle a lawsuit in which investors accused the Anglo Australian mining giant of fraud by hiding problems with the $7 billion underground extension of the Oyu Tolgoi Copper and Gold Mine in Mongolia. Rio Tinto reached a preliminary agreement with the shareholders of Turquoise Hill Resources, which was formerly based in Montreal. The settlement is pending the approval by Manhattan-based U.S. district judge Lewis Liman. Liman said at an hearing on Wednesday that he is ready to...

Shanghai copper pared early losses on Monday, boosted by expectations for further U.S. Federal Reserve interest rate cuts. Investors remained vigilant of U.S. China trade tensions. The Shanghai Futures Exchange's most active copper contract closed the daytime trading lower by 0.2% at 85,650 Yuan ($12 020.55) per metric tonne. Early in the session, the contract traded at a low of 83,820 Yuan per ton. This was a drop of more than 1%. As of 0822 GMT, the benchmark three-month price for copper had also recovered from Tuesday's losses, rising by 1.06% and trading at $10,690 per ton. Red metal prices...

Iron ore futures declined on Wednesday for the second consecutive session. This was due to concerns about demand, resulting from an escalating Sino-U.S. Trade spat as well as rising steel inventories in China, which is the top consumer. Donald Trump, the U.S. president, said that Washington is considering ending some trade relations with China. The U.S., and China began Tuesday charging each other additional port fees for ocean shipping companies. This is another sign that tensions are rising between the two world's largest economies. These tensions have impacted the market sentiment and pushed down commodity prices. The daytime trading price...

Iron ore futures ranged on Wednesday as worries about the worsening Sino US trade dispute and China's low inflation data, its largest consumer, offset optimism regarding remaining strong near-term demand. Donald Trump, the U.S. president, said that Washington is considering ending some trade relations with China. The U.S., China and other countries began to charge additional port fees for ocean shipping companies on Tuesday. This is another sign of the tensions that exist between the two world's largest economies. These tensions could impact the market sentiment and put pressure on commodity prices. As of 0303 GMT on Wednesday, the most-traded...

Copper prices dropped on Tuesday as a result of concerns about trade tensions between China and the United States, two of the world's largest economies. These tensions could have an impact on the demand for metals that are dependent on growth. The price of three-month copper at the London Metal Exchange fell 2.6%, to $10544.50 per metric ton as of 1004 GMT. The price of copper, which is used for power and construction, has dropped 4% after concerns about a reduced mine supply following disruptions in Indonesia and the Democratic Republic of Congo. Dan Smith, managing Director at Commodity Market...

Shanghai copper fell on Tuesday, as concerns about escalating tensions in trade between China and the United States overshadowed long-standing worries over mine disruptions. The Shanghai Futures Exchange's most active copper contract closed the daytime trade down 0.59%, at 84400 yuan per metric tonne ($11,818.74). Prices rose to 86.790 yuan a tonne in the morning, with hopes of a deescalation in tensions between world economic giants growing after U.S. Treasury Sec. Scott Bessent stated that President Donald Trump was still on track to meet Chinese Leader Xi Jinping at the end of October in South Korea. After the Financial Times...

Iron ore futures fell on Tuesday, as investors took profits and shifted their focus to the expectation of a growing ore supply for the remainder of 2025. Meanwhile, steel demand in China's top consumer has been seasonal slowing. The January contract for iron ore most traded on China's Dalian Commodity Exchange fell by 2.07%, ending daytime trading at 782 Yuan ($109.55). Earlier in the session, it reached its highest level since September 23, at 809.5 Yuan. As of 0707 GMT the benchmark November iron ore traded on Singapore Exchange fell 2.5% to $105.1 per ton after reaching its highest level...

Rio Tinto on Tuesday reported softer-than-anticipated third-quarter iron ore shipments and warned it would require a vigorous year-end push to attain the lower end of its annual target, even as copper output races to the top of its forecast. Four cyclones disrupted the schedules Early this year Rio Tinto forecasts its 2025 iron-ore shipment at the lower end its range of 323 million to 338 millions tonnes (Mt). Rio Tinto said that the cyclones had impacted 13 Mt of shipments during the first quarter, and was on track for about half to be recovered. Visible Alpha's consensus estimate for the...