Metal

Barrick Gold, the Canadian mining giant, reported a significant increase in its overall proven and probable gold reserves for 2024, driven primarily by its Reko Diq copper-gold project. Key Highlights:Reserve Increase: Barrick’s total gold reserves rose by 23% to 17.4 million ounces at the end of 2024.The company added 13 million ounces of gold to […]

A coalition of U.S. consumers has filed a lawsuit against Nippon Steel to prevent its proposed $14.9 billion acquisition of U.S. Steel, citing concerns over reduced competition and potential price increases for various products. Key Highlights:Lawsuit Details: The lawsuit was filed on Wednesday in federal court in San Francisco, California, alleging that the merger violates […]

David McCall, President of the United Steelworkers (USW) union, has filed a motion to dismiss the lawsuit brought against him by U.S. Steel and Nippon Steel. The lawsuit was initiated following the blocking of a $14.9 billion bid for U.S. Steel by Nippon Steel, which was halted by then-President Joe Biden earlier this year. Key […]

Sigma Broking, a notable member of the London Metal Exchange (LME), is reportedly in discussions to sell its brokerage business just three years after joining the exchange. This move comes as the firm faces increased capital requirements and a challenging trading environment. Key Highlights:Background: Sigma became the first new floor-trading member of the LME in […]

Copper prices soared to their highest levels in over two months on Friday, fueled by increasing investor optimism regarding a potential trade deal between the U.S. and China following comments from President Donald Trump. Key Highlights:Current Copper Prices: Three-month copper (CMCU3) on the London Metal Exchange (LME) rose 0.4%, reaching $9,270 per metric ton by […]

Gold prices experienced a significant uptick on Friday, climbing over 1% and nearing their all-time high from October. This surge is attributed to a weakening U.S. dollar amid President Donald Trump’s calls for lower interest rates and ongoing tariff uncertainties. Key Highlights:Current Gold Prices: Spot gold (XAU) rose by 0.7%, reaching $2,772.79 per ounce by […]

Alcoa CEO William Oplinger stated that if the U.S. imposes tariffs on Canadian imports, the company is likely to redirect its aluminum production from Australia to the U.S. This potential shift highlights how tariff structures could disrupt global metal shipping flows, leading to increased costs for consumers worldwide. Key Highlights:Tariff Implications: President Donald Trump has […]

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, […]