Iron ore edges higher on China stimulus optimism
Onome Amuge
March 18, 2022
BY ONOME AMUGE Iron ore futures jumped towards a fourth consecutive weekly gain, as hopes for additional stimulus to shore up China, the world’s top steel producer/consumer eclipsed worries over COVID-19 curbs and global uncertainties. The most-traded iron ore, for May delivery, on China’s Dalian Commodity Exchange rose as much as 3.7 percent to 835 […]
Investors dump weak US dollar, trade in other currencies as copper prices rise
Kenneth AforMarch 4, 2020
By Kenneth Afor After Tuesday’s emergency interest rate cut from the US Federal Reserve which saw the dollar weak against other currency rivals, investors in copper on Wednesday on the London Metal Exchange (LME) have dumped the dollar using other currencies to trade. Fed’s decision to further lower the interest rate is to cushion the […]
Zinc, lead rise 2% as LME base metals prices recover
Temitayo AyetotoSeptember 12, 2018
Zinc and lead led the gainers’ list at the London Metal Exchange with 2 percent rise in their prices as the London Metal Exchange base metals prices gathered momentum on Wednesday, with the complex recouping losses made at Tuesday’s close. Three-month zinc and lead prices climbed on the back of a slight down tick in […]
Copper, zinc lead as LME metals extend rebound gains
Temitayo AyetotoAugust 28, 2018
Copper and zinc led in metals extension of rebound gains as three-month base metals prices on the London Metal Exchange (LME) were for the most part in positive territory on Tuesday. Copper was up 0.2 percent at $6,082 per tonne, zinc 0.7 percent at $2,545 per tonne and nickel prices bucking the trend with a […]
Global mining faces cloudy outlook on trade tensions, Says Fitch
Businessam StaffAugust 9, 2018
The outlook for the mining sector has become more clouded in recent months due to trade tensions between the US and China, Fitch Ratings says, adding that prices for several commodities, including copper, nickel and zinc, fell sharply in July due to investor concerns about global growth. In a press release Thursday, the global rating […]
Buying interest in LME base metals inches higher as copper lead gainers
Temitayo AyetotoAugust 9, 2018
Three-month base metals prices on the London Metal Exchange (LME) were positively higher on Thursday, with the complex up an average of 0.4 percent. Leading the gains was LME copper, up 1.1 percent, followed by tin at 0.5 percent and lead and zinc both up 0.4 percent. Meanwhile, aluminium was up 0.1 percent, consolidating after […]
Copper sees 0.2% decline on China’s data showing slower growth
Businessam StaffJuly 31, 2018
Copper prices saw a 0.2 percent decline on Tuesday as data showing slower growth in China’s manufacturing sector fuelled nervousness about demand in the top consumer. Benchmark copper on the London Metal Exchange traded down 0.2 percent at $6,237 a tonne in official rings. Caroline Bain, an analyst at Capital Economics said: “The PMI data […]
London Metals Exchange boosts liquidity with introduction of artificial monthly pricing
Temitayo AyetotoJuly 17, 2018
The London Metal Exchange (LME) is set to boost its liquity with the introduction of fresh set of artificial monthly prices, designed to make seamless the process of investing in six base metals namely copper, aluminum, zinc, lead, nickel and tin. This is as the LME struggles with competition from other exchanges such as those […]
Stronger dollar impacts copper prices
Temitayo AyetotoMay 8, 2018
Copper prices fell on Tuesday as the impact of a strengthening dollar overwhelmed positive trade data from China, the world’s largest consumer and producer of industrial metals. Chinese imports and exports grew more strongly than expected in April and copper imports rose 2.8 percent from the previous month, implying healthy demand and pushing prices higher […]
Precious metals struggle to hold firm despite recovery
Businessam StaffMay 7, 2018
Precious metals have continued to struggle to hold firm despite recovering from the low ebb of last week, reports seen by business a.m. show. The commodities returned lower after gains seen last week on traders’ booked profits spurred by the strength in the dollar index. The staggering was attributed to lack of buying momentum which […]