Metal

The gold market is set to continue its impressive rally through the remainder of 2024, with traders and industry experts predicting the precious metal will maintain its upward momentum. However, the $3,000 per ounce mark may prove just out of reach for the time being. Spot gold is currently trading around $2,300 per ounce, having […]

Iron ore futures have tumbled to a two-month low, weighed down by lingering weak fundamentals and concerns over demand prospects in top consumer China. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) closed the daytime trade 4.16% lower at 806 yuan ($111.12) per metric ton, the lowest level since April 10. […]

Mining giant Rio Tinto has announced that it will purchase Mitsubishi Corporation’s 11.65% stake in Boyne Smelters (BSL), a joint venture that owns and operates the Boyne Island aluminum smelter in Gladstone, Australia. The financial details of the transaction were not disclosed. This acquisition follows Rio Tinto’s recent deal to buy Sumitomo Chemical’s 2.46% interest […]

Ukraine’s major iron ore concentrate producer, Ingulets GOK, may be forced to halt production due to issues with electricity supplies and the high cost of imported power, according to the specialized news agency GMK Center. In a letter to the government, Ingulets GOK CEO Ihor Toniev stated that the share of electricity in the net […]

In a significant policy shift, Vietnam is expected to allow companies to directly import gold for the first time in over a decade, according to an industry official. This move is aimed at bridging the widening gap between local gold prices and international benchmarks. The Vietnam Gold Traders Association (VGTA) has been in prolonged discussions […]

According to the Ukrainian steel producers union, the country’s steel production has seen a significant increase in the first five months of 2024, rising by 31.2% compared to the same period a year earlier. The union reported that Ukraine produced 3.1 million metric tons of steel during this period, up from 2.4 million tons in […]

South African chemicals company Omnia Holdings has declared a special dividend after increased demand for explosives, driven by battery metals exploration, boosted the company’s prospects. Omnia’s after-tax profit was flat at 1.163 billion rand ($61.88 million) in the year ended March 31, compared with 1.152 billion the year before, as fertilizer prices came off record […]

Copper prices bounced back from five-month lows on Monday, as the market shifted its focus to the potential for demand after a sell-off triggered by funds and traders reversing bets on higher prices. Benchmark copper on the London Metal Exchange (LME) traded 0.7% up at $9,829 per metric ton in official rings, having earlier slipped […]

Shareholders of PT Vale Indonesia, the nickel miner, have voted to reappoint Febriany Eddy as the company’s CEO, ahead of state miner MIND ID raising its stake in the group to become the majority shareholder. Vale and MIND ID had previously announced that when the state mining group’s planned acquisition of a 14% stake in […]

Lithium extraction in Argentina, the world’s fourth-largest producer of the metal, surged by 49.7% in the first four months of 2024 compared to the same period last year, according to data from the national statistics agency Indec. The South American country, which is part of the “lithium triangle” along with Chile and Bolivia, has seen […]