Metal

Aluminium inventories held in warehouses registered by the London Metal Exchange (LME) have risen to the highest level in more than 2-1/2 years, more than doubling in less than a week, according to the latest data. On Tuesday, the LME data showed that aluminium stocks MALSTX-TOTAL jumped by a further 131,075 tons to 1,033,625 tons, […]

In response to a takeover bid from BHP Group, Anglo American has announced plans for a potential break-up of the company through a series of divestments and demergers. The London-listed miner is looking to streamline its portfolio by shedding its steelmaking coal assets, demerging its platinum unit in South Africa, exploring options for its nickel […]

Rio Tinto, the world’s biggest iron ore miner, has reported a derailment of a driverless train and wagons carrying iron ore at its Western Australian iron ore operations. The incident occurred when the driverless train collided with a set of stationary wagons loaded with iron ore. According to the company, 22 wagons carrying iron ore […]

Copper prices have climbed towards the two-year highs hit last month, as expectations of strong demand growth and hopes for cuts to U.S. interest rates have encouraged investors to pile into the market. Benchmark copper on the London Metal Exchange (LME) was up 1.3% at $10,134 per metric ton by 1045 GMT on Monday, after […]

Shares of gold miner OceanaGold Philippines Inc. (OGP.PS) ended 6.16% lower on its trading debut on Monday following a 6.078 billion pesos ($105.10 million) initial public offering (IPO). This marks the first IPO in the Philippines this year. The shares opened at 13.34 pesos, slightly above their IPO price of 13.33 pesos, but subsequently lost […]

According to the consultancy Metals Focus, average prices for platinum, palladium, and rhodium are expected to fall in 2024 compared to 2023, despite another year of structural deficits for all three metals in the platinum group (PGMs). The basket price of PGMs, which are primarily used in vehicle exhaust systems to neutralize harmful engine emissions, […]

Aluminium prices declined on Friday after London Metal Exchange (LME) data showed an 88% jump in inventory levels. The most-traded three-month aluminium contract CMAL3 fell as low as $2,537 per metric ton following the release of the inventory data. The LME data showed that aluminium stocks in its approved warehouses rose by 424,000 metric tons […]

China’s ambitious push to shift its massive aluminium industry towards greener production has hit a roadblock due to erratic rainfall patterns and power cuts in the southwestern Yunnan province. Lured by promises of cheap hydropower, major Chinese aluminium producers like Hongqiao Group had started relocating a significant portion of their capacity, around 15% of China’s […]

Japanese steelmakers have expressed concerns to Australian authorities about the potential takeover of Anglo American by BHP Group, fearing it could give BHP too much dominance in the global supply of coking coal. Australia is the world’s largest exporter of coking coal, a key ingredient in steel production, and Japanese steelmakers rely on Australia for […]

The London Metal Exchange (LME) has reported an 88% jump in total aluminium stocks in its registered warehouses, reaching 903,850 metric tons on Thursday. This is the highest level since January 2022, according to the exchange’s daily data. The surge in aluminium inventories has been attributed to so-called “rent share deals,” where traders are taking […]