Metal

BHP Group has announced a renewed focus on expanding its copper operations following a better-than-expected 2% rise in annual underlying profit. The world’s largest listed miner is prioritizing copper, recognizing its critical role in the energy transition and a challenging outlook for iron ore due to slowing economic growth in China. After withdrawing a $49 […]

Copper prices in Shanghai surged to their highest level in over three weeks on Monday, driven by a rebound in demand from China and optimism surrounding a potential U.S. interest rate cut in September. The most-traded October copper contract on the Shanghai Futures Exchange (SCFcv1) closed up 2.2% at 75,170 yuan ($10,559.22) per metric ton, […]

Pilbara Minerals (PLS.AX), Australia’s largest pure-play lithium miner, reported an 86% decline in annual profit, attributing the drop to lower lithium prices, which are crucial for electric vehicle (EV) battery production. The average realized price for lithium spodumene concentrate fell by 74% to $1,176 per tonne in fiscal 2024. The company’s underlying profit after tax […]

India’s gold demand is poised for a significant increase during the upcoming festive season, thanks to a substantial reduction in import duties that has made gold prices more attractive for retail consumers. This move is expected to encourage purchases and could further support a rally in global gold prices, which recently reached record highs. The […]

Gold demand in China is anticipated to rise in the coming months as consumers adapt to higher prices, driven by economic uncertainty and concerns over currency weakness. This resurgence in demand from the world’s largest gold consumer could further bolster global gold prices, which recently reached record highs. A dealer from a leading bullion bank […]

India’s silver imports are projected to nearly double this year, driven by increased demand from solar panel and electronics manufacturers, as well as a shift in investor preference towards silver over gold. Importers anticipate that purchases could rise from 3,625 metric tons last year to between 6,500 and 7,000 tons in 2024. In the first […]

Zinc futures on the Shanghai Futures Exchange have risen for the third consecutive session, reaching their highest price in over a month. The most active zinc contract (SZNcv1) closed 1.5% higher at 24,000 yuan ($3,363.18) per metric ton, marking a significant increase from the four-month low of 21,780 yuan set on August 8. This price […]

Societe Generale International has announced its decision to withdraw from the London Metal Exchange’s (LME) open-outcry trading floor, effective August 27. This move raises concerns about the future viability of the trading ring, which is the last remaining open-outcry venue in Europe. The LME, the world’s oldest and largest market for industrial metals, has seen […]

China, the world’s largest steel producer, has announced a temporary suspension of its steel capacity replacement programme effective from August 23. This decision, made by the Ministry of Industry and Information Technology, aims to revise the existing measures that require steel mills to dismantle an equal amount of older capacity when introducing new capacity. The […]

Sibanye Stillwater has announced the acquisition of an additional €500 million ($557.30 million) in debt financing to advance its Keliber lithium project in Finland, despite a recent slump in lithium prices. This financing, partially supported by the European Investment Bank (EIB), is aimed at bringing the lithium mine into production by 2026. The Johannesburg-based company, […]