LME takes aim at traders’ Russian metal games with new rules
The London Metal Exchange is imposing new rules surrounding the movement of metal in its warehousing network, taking aim at a lucrative and complex trading opportunity that emerged after the imposition of sanctions on Russian metal earlier this month.
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Zinc price trades near one-year high as market weighs supply risks
Zinc traded close to a one-year high as metals markets looked past delays to US monetary easing to focus on looming supply risks.
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Vitol CEO confirms energy trading giant is getting into metals
Vitol Group confirmed that it’s starting to rebuild a trading book for metals after a long stint out of the market, with an “exciting decade” ahead.
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Lithium trading hits record on CME as funds seize budding market
Trading of CME Group Inc.’s nearly three-year-old lithium hydroxide futures contract is soaring, with more funds crowding into the budding market as prices of the battery metal falter.
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Iron ore price swings near $100 as traders mull fragile China recovery
Iron ore reversed direction after dropping to its lowest level in 10 months as optimism that the country’s economic recovery may be starting to gain traction countered weakness in the steel market.
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Iron ore price swings near $100 as traders mull fragile China recovery
Iron ore reversed direction after dropping to its lowest level in 10 months as optimism that the country’s economic recovery may be starting to gain traction countered weakness in the steel market.
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Iron ore hit by fresh selling as traders fret over China demand
Iron ore futures tumbled in Singapore, extending a stretch of volatile trading amid deepening anxiety over Chinese demand. Base metals also fell.
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Pressure groups sue LME for allowing trade of ‘polluting’ Indonesian metal
Two pressure groups have filed a legal action against the London Metal Exchange (LME) for allowing the sale on its platform of metal produced in Indonesia that they allege is polluting local rivers used by indigenous communities, they said on Thursday.
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Metals sanctions are dividing the biggest traders and banks
The latest UK sanctions on Russia are creating new faultlines across the global metals world, in the latest example of how the fallout from the war in Ukraine continues to ripple through commodity markets while creating opportunities for those willing to navigate the restrictions.
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Iron ore price consolidates as traders ponder demand outlook
Iron ore futures were in a tight range on Monday, with the Dalian benchmark ticking up and Singapore prices receding, as investors pondered the demand outlook in the absence of an expected monetary easing in top consumer China.
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Gecamines to push for copper, cobalt trading share
Mining News Pro - Congo’s State mining group Gecamines said it will push to secure the rights to buy copper and cobalt at mines it has holdings in, as it attempts to build its own stocks and trade the metals.
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Panama trade minister resigns after mining contract backlash
Mining News Pro - Panama’s Trade Minister Federico Alfaro announced his resignation on Thursday days after the country’s top court ruled a contract between the government and Canadian miner First Quantum unconstitutional.
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Sigma Lithium’s former co-CEO fired for trading in blackout period
Mining News Pro - The former co-CEO of Sigma Lithium, a leader in Brazil’s budding lithium sector, was fired earlier this year for trading its shares during a quarterly earnings blackout period, according to legal correspondence in a civil lawsuit, trading data and two people familiar with the matter.
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EU and US delay key trade meeting amid deadlock in negotiations
Mining News Pro - A trade meeting between the US and European Union due to take place next month is expected to slip to early next year as the two allies remain deadlocked in talks about steel and critical minerals.
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Major Chinese copper trader sees glut weighing on prices in 2024
Mining News Pro - The global copper market will face a glut next year, according to one of China’s biggest traders of the metal, which will likely lead to further declines in the commodity that’s vital to the energy transition.
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Copper price gains as traders assess China deflation, Fedspeak
Mining News Pro - Copper futures rose 0.3% to $8,162.50 as of 11:03 a.m. in New York.
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Citi’s mega metals trade shows global markets turning to glut
Mining News Pro - Citigroup Inc. has been buying large volumes of physical aluminum and zinc on the London Metal Exchange, in a bold metal-financing trade that’s made it one of the biggest players in the market in recent months.
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Metal trader misery undercuts supercycle hype as losses pile up
Mining News Pro - The world’s metal traders are enduring one of their toughest periods in years, even as an international race for minerals thrusts the industry into the geopolitical spotlight like never before.
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Lundin in talks with Japanese trading houses to develop Argentina mine
Mining News Pro - Canadian-Swedish miner Lundin Mining is in talks with Japanese trading houses and large miners to offer a stake of between 40% and 50% in Argentina’s Josemaria mine, incoming CEO Jack Lundin told Reuters in an interview on Thursday.
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Alrosa suspends diamond supply for Sept-Oct – India’s trade body
Mining News Pro - Russian diamond producer Alrosa has suspended rough diamond supply for September and October after a request from India’s leading trade body, the Gems and Jewellery Export Promotion Council (GJEPC) said on Wednesday.
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Ex-JPMorgan gold trader sentenced to six months in ‘spoof’ case
Mining News Pro - A former JPMorgan Chase & Co. gold trader was ordered to serve six months behind bars for a fraud conviction tied to deceptive orders, the last criminal penalty imposed in a years-long spoofing saga at the bank.
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Gold trading hasn’t been this boring since the pandemic began
Mining News Pro - Gold markets haven’t been this calm since the onset of the Covid-19 pandemic, thanks to a deadlock between buyers and sellers that’s showing no signs of breaking.
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Visit: 209
Nornickel plans to move some trading to Dubai
Mining News Pro - MMC Norilsk Nickel PJSC has established an office in Dubai, becoming the largest Russian metals and mining firm to set up in the United Arab Emirates following the Kremlin’s war in Ukraine.
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Visit: 185
Nornickel plans to move some trading to Dubai
Mining News Pro - MMC Norilsk Nickel PJSC has established an office in Dubai, becoming the largest Russian metals and mining firm to set up in the United Arab Emirates following the Kremlin’s war in Ukraine.
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Visit: 138
Metals traders are leaving hedge funds as markets disappoint
Mining News Pro - A series of metal traders are leaving hedge funds — including some fairly new hires — after the wild price swings that drew fresh money into the sector in recent years have evaporated, leaving markets drifting sideways.
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Visit: 284