Metal

Freeport-McMoRan has reported a decline in copper production for the fourth quarter, leading to a drop in its shares by more than 4%. Despite this setback, the Phoenix-based miner managed to deliver a better-than-expected quarterly profit, primarily due to rising copper prices that helped offset production challenges in Indonesia. Key Highlights:Production and Financial Overview: Freeport’s […]

Gold prices have surged to near three-month highs, driven by a weakening dollar and uncertainties surrounding U.S. President Donald Trump’s policy proposals, which raise concerns about potential trade wars and increased market volatility. Key Highlights:Current Gold Prices: Spot gold (XAU) rose by 0.4% to $2,755.20 per ounce as of 02:29 p.m. ET (1629 GMT), approaching […]

The London Metal Exchange (LME) is set to consult on potential changes to its warehouse storage rules after persistent bottlenecks emerged last year, despite previous reforms aimed at alleviating gridlock. This initiative aims to address ongoing challenges in the storage and delivery of metals, particularly aluminum. Key Highlights:Background on Warehouse Issues: Nearly a decade ago, […]

ArcelorMittal Kryvyi Rih, Ukraine’s largest steel producer, reported a significant increase in raw steel output, rising nearly 70% to 1.65 million metric tons in 2024. This surge, however, remains substantially below the company’s pre-war production capacity. Key Highlights:Production Increase: The company did not specify the reasons for the output rise, but the Ukrainian steel producers’ […]

President Donald Trump’s recent decision to revoke electric vehicle (EV) targets set by former President Joe Biden may slow demand for critical minerals like lithium in the short term, but analysts and industry leaders believe it won’t significantly impact the mining sector due to surging global EV demand. Key Highlights:Policy Change: Trump rescinded Biden’s 2021 […]

Glencore, a leading miner and commodity trader, has expressed its openness to mergers and acquisitions (M&A) that would enhance shareholder value, particularly as it positions itself as one of the top three global copper producers. Key Highlights:M&A Strategy: A Glencore spokesperson stated, “M&A is something we are good at and we are always open to […]

The London Metal Exchange (LME) has officially approved Hong Kong as a warehouse delivery point, aiming to enhance access to mainland China, the world’s largest consumer of metals. This decision marks a significant step in LME’s strategy to expand its presence in Asia. Key Highlights:Strategic Goal: Since acquiring the LME in 2012, Hong Kong Exchanges […]

Gold prices are poised for a third consecutive weekly gain, despite facing some pressure from a stronger U.S. dollar on Friday. The market’s focus is shifting towards the inauguration of President Donald Trump, with uncertainties surrounding his policies contributing to renewed demand for bullion. Key Highlights:Current Prices: Spot gold (XAU) dipped 0.4% to $2,701.03 per […]

Glencore approached Rio Tinto late last year about a potential merger between the two major copper producers, but those discussions are no longer active, according to a source familiar with the matter. The brief talks did not progress, and both companies have declined to comment on the situation. Key Highlights:Potential Merger Impact: A merger between […]

Codelco, the world’s largest copper producer, is aggressively working to boost its copper output from a 25-year low, aiming for an annual production target of 1.7 million metric tons by the end of the decade. However, union workers and analysts express concerns about the sustainability of these tactics. Key Highlights:Current Production Levels: Codelco’s production reached […]