LONDON (Reuters) - When will base metal prices stop falling?
|
|
Meanwhile, the base metal isn't totally out of the woods.
|
|
A base metal trader said these measures lifted market sentiment.
|
|
A base metal trader said these measures lifted market sentiment.
|
|
Australian miner South32 Ltd and base metal explorer Trilogy Metals Inc will become equal partners in a joint venture that will own and operate an Alaskan copper and base metal project, the two companies said.
|
|
TORONTO (Reuters) - Canadian base metal miner First Quantum Minerals Ltd (FM.
|
|
Base metal prices were also bolstered by talk of stimulus in China.
|
|
On the London Metal Exchange, base metal prices were lower in afternoon trade.
|
|
Anglo Chief Executive Mark Cutifani reiterated the company's commitment to the base metal.
|
|
This is probably the first time the base metal markets have experienced it.
|
|
Nickel jumped 7.3 percent last week, making it the best performing base metal.
|
|
"It is the base metal prices that drive our business opportunities," he said.
|
|
Oil prices rebounded overnight as U.S. stockpiles declined, while base metal prices also gained.
|
|
Other base metal and commodity stocks could see gains under a Trump administration, too.
|
|
Aluminum wins the dubious honor of being the most unloved base metal right now.
|
|
LONDON (Reuters) - Copper is underperforming every other major base metal so far this year.
|
|
First Quantum Minerals Ltd, another base metal miner, fell 1.5 percent to C$13.21.
|
|
Materials gained in Australia despite a slide in iron ore and base metal prices.
|
|
Overnight, base metal prices on the London Metal Exchange mostly advanced according to Reuters data.
|
|
That question looms largest of all in determining whether base metal prices have bottomed out.
|
|
But higher base metal and iron ore prices boosted materials stocks, braking the benchmark's slide.
|
|
Mining stocks declined in line with a drop in base metal and iron ore prices.
|
|
The materials group, which includes precious and base metal miners and fertilizer companies, added 1 percent.
|
|
The materials group, which includes precious and base metal miners and fertilizer companies, added 0.5 percent.
|
|
The materials group, which includes precious and base metal miners and fertilizer companies, gained 1.4 percent.
|
|
The materials group, which includes precious and base metal miners and fertilizer companies, gained 0.7 percent.
|
|
The materials group, which includes precious and base metal miners and fertilizer companies, lost 0.5 percent.
|
|
The other precious metals, which have industrial applications, got a boost from higher base metal prices.
|
|
The materials group, which includes precious and base metal miners and fertilizer companies, fell 0.4 percent.
|
|
Resources producers across the region were lower on Wednesday, following overnight drops in base metal prices.
|
|
The materials group, which includes precious and base metal miners and fertilizer companies, lost 2 percent.
|
|
Mining stocks fell in line with a drop in gold, base metal and iron ore prices.
|
|
The materials group, which includes precious and base metal miners and fertilizer companies, added 247.06 percent.
|
|
The materials group, which includes precious and base-metal miners and fertilizer companies, lost 0.3 percent.
|
|
The materials group, which includes precious and base metal miners and fertilizer companies, rose 0.2 percent.
|
|
Exploration companies owning base metal deposits with precious metal by-products are Silver Wheaton's preferred investment.
|
|
Basic resources stocks rose about 0.8% on an uptick in iron ore and base metal prices.
|
|
The base metal producer said Chief Financial Officer Marie Inkster will take up the role of CEO.
|
|
Basic material stocks were also lower with rising iron ore and base metal prices failing to inspire.
|
|
The sagged to a one-year low of $0.73475 as the trade tension hurt base metal prices.
|
|
Chile is the world's top copper producer, with the base metal representing almost 50% of its exports.
|
|
Mining stocks declined 0.18.6%, snapping three sessions of gains, as base metal and iron ore prices retreated.
|
|
The materials group, which includes precious and base metal miners as well as fertilizer companies, added 1.5 percent.
|
|
Copper is now challenging out-of-favor lead as the worst performing base metal so far this year.
|
|
The index of mining stocks, down the past two days, extended losses on weakness in base metal prices.
|
|
China is the world's largest copper consumer and copper is the most traded base metal on the Shfe.
|
|
The materials Index pared most of its losses on the back of a rise in base metal prices.
|
|
The CME has tried to extend its copper franchise into other base metal markets but with limited success.
|
|
The two also had their price targets upgraded by RBC on the basis of stronger base metal prices.
|
|
That followed the move lower in base metal prices overnight on the back of soft China demand data.
|
|
However, weakness in base metal prices sapped confidence in material stocks which led the decliners on the benchmark.
|
|
The metals and mining index advanced 21.1% boosted by a rise in iron ore and base metal prices.
|
|
Revenue climbed 24.1 percent to $21276.5 billion, helped by record silver production, higher zinc volumes and base metal prices.
|
|
The same phenomenon was seen last year in the base metal contracts traded on the Shanghai Futures Exchange (SHFE).
|
|
Base metal prices for copper and lead have slid by about 13 and 30 percent, respectively, since early 2011.
|
|
Copper prices also tend to have significant sway on the peso as the base metal is Chile's largest export.
|
|
The materials group was barely higher as losses for base metal miners and fertilizer companies offset the gold mining gains.
|
|
The LME says it accounts for 60 percent of global copper trading and 71 percent of all base metal trading.
|
|
The metal is the second best performing base metal this year, up 15 percent after shedding 26 percent in 2018.
|
|
Shares in China's major base metal producers rallied across the board as futures prices of copper, zinc and nickel jumped.
|
|
Indeed, zinc has been the hottest base metal in town this year with investment managers jumping on the band-wagon.
|
|
Chile produces around a third of the world's copper, making it by far the biggest exporter of the base metal.
|
|
In commodity markets, base metal prices bounced on more upbeat economic news from China with copper gaining 2 percent overnight.
|
|
Aluminium is the most energy-intensive base metal and Brent crude futures have shed about 211% in the past two weeks.
|
|
Gains on the main index were capped by material stocks, which lost ground on weaker base metal and iron ore prices.
|
|
Base metal prices weakened and Chinese iron ore prices exceeded the biggest daily drop in almost 10 months posted on Monday.
|
|
" However, it described the base metal division as "disappointing" and called Vale's iron ore division its "one and only value driver.
|
|
Traders said lack of liquidity on the LME market meant tin was the worst performer in the base metal sell-off.
|
|
Also supporting base metal prices were further virus-linked shutdowns in metal-producing countries, which will lead to lower mine output.
|
|
The Australian dollar AUD=D4 sagged to a one-year low of $0.73475 as the trade tension hurt base metal prices CMCU3.
|
|
The timing and pace of further U.S. tightening could set the course for base metal prices in coming months, according to analysts.
|
|
LME nickel has been the best-performing base metal this year with gains of 31% while most other base metals have fallen.
|
|
Zimbabwe is pressing platinum miners, including local operations of Anglo American Platinum and Impala Platinum Holdings to build a base metal refinery.
|
|
Mining stocks have been broadly positive during Asia hours, with Australia miners advancing on the back of higher base metal prices overnight.
|
|
The ongoing U.S.-China trade war and slowing macroeconomic outlook have hurt copper prices and other base metal prices, hurting Teck's income.
|
|
Aside from European-built aircraft and parts, goods on the list include motorcycles, food, drink, clothes, base metal parts and jewelry equipment.
|
|
Material stocks also supported the main board and gained 1.6 percent on the back of strong iron ore and base metal prices.
|
|
A plunge in base metal prices on Wednesday, lead by a three percent drop in London copper pushed materials stock, especially miners lower.
|
|
But a sharp fall in the price of copper has hit investment hard in Chile, the world's top exporter of the base metal.
|
|
Major Australian miners surged after base metal prices jumped overnight in London likely due to better-than-expected producer price inflation in China.
|
|
Appetite for nickel has been driven up as battery makers increasingly turn to the base metal to help power global electric car sales.
|
|
Nickel was the best-performing base metal last year and analysts are looking for more of the same over the next two years.
|
|
CME Group's lead contract saw the U.S. exchange open up base metal warehouses outside of its home country for the first time ever.
|
|
Legal and General gave up 5.2 percent, while miners Antofagasta and Glencore shed 3.3 percent and 3 percent, respectively, despite higher base metal prices.
|
|
Legal and General gave up 5.2 percent, while miners Antofagasta and Glencore shed 2.9 percent and 3.8 percent, respectively, despite higher base metal prices.
|
|
Politics has broken the economic cycle for the LME base metal pack, dislocating price from fundamentals and causing both market and supply-chain turbulence.
|
|
Lundin's chairman said earlier this year that he would now be prepared to spend as much as $3 billion on a base metal asset.
|
|
Nyrstar's discomfort highlights the market stresses that have developed in zinc and other base metal markets since the fund selling began in early June.
|
|
The materials group, which includes precious and base metal miners and fertilizer companies, was the only other sector to move higher, adding 0.6 percent.
|
|
Peru is the world's second-largest copper producer and has maintained a positive trade balance since July 2016 as base metal prices have recovered.
|
|
He and his base metal friends find themselves on the front line of the escalating trade stand-off between the United States and China.
|
|
MSNSTX-TOTAL SSN-TOTAL-W * ALUMINIUM: Aluminium is the only LME three-month contract in the base metal complex set to gain this week.
|
|
Uniquely, among the big base metal markets, there is no independent statistical body doing the hard number-crunching work for the rest of us.
|
|
Most other base metal prices also fell sharply on concerns that U.S.-China trade talks next week could fail, leading to weaker economic growth.
|
|
Aside from European-built aircraft and parts, goods on the list included motorcycles, food, drink, clothes, base metal parts and equipment to make jewelry.
|
|
Australia's mining and metals index climbed as much as 2.2 percent, hitting over a two-week high, helped by a jump in base metal prices.
|
|
Base metal prices rebounded on Monday and drove up material stocks with South32 Ltd gaining as much as 3.2 percent to an all time high.
|
|
Under the existing code, a 2 percent royalty is levied on cobalt as a base metal alongside copper, of which Congo is Africa's leading producer.
|
|
Miners provided the biggest uplift to the FTSE as base metal prices rose, with copper and lead gaining ground on prospects of a supply squeeze.
|
|
Base metal prices on the London Metal Exchange (LME) were lower, with three-month copper down 2112 percent, while three-month aluminum slipped 2111 percent.
|
|
COLUMN: The base metal markets are suffering from trade war fatigue, with LME volumes down 22.2% in the first half of 21, writes Andy Home.
|
|
Cuff scrambled to figure out details that should have been decided before selling the jewelry – things like which base metal should be used, for example.
|
|
Base metal miners gained, with Teck Resources Ltd rising 2.4 percent to C$11.16 and First Quantum Minerals Ltd added 3.2 percent to C$7.37.
|
|
Base metal prices had jumped overnight in the U.S. as the dollar weakened and on hopes that the Trump administration would boost infrastructure spending, Reuters reported.
|
|
LME lead, the best-performing base metal this year, finished with a 2.3 percent gain at $2,342 a tonne, while zinc advanced 0.5 percent to $2,23.
|
|
When writers ascribed alchemical qualities to his music, they were ignoring the literal meaning of the word, the dark art of turning base metal into gold.
|
|
Miners benefited from a rise in iron ore and base metal prices, with Fortescue Metals Group ending about 3% higher and BHP Group closing 0.2% stronger.
|
|
The rest of the base metal complex was range-bound as investors sought more details from the trade agreement and awaited macro-economic data from China.
|
|
Meanwhile, growing hopes for a $2 trillion U.S. stimulus package to curb the economic fallout from the pandemic supported sentiment on the overall base metal market.
|
|
That could help to drive copper prices higher as many forecasters expect that demand for the base metal will exceed supply in the next few years.
|
|
The base metal markets are once again in turmoil, with 210 set to go down in the history books as the year the commodities supercycle finally imploded.
|
|
Canadian base metal miner First Quantum Minerals Ltd reported a bigger-than-expected quarterly profit as copper production costs fell and production rose in its Zambia operations.
|
|
Metal stocks were partly spurred by a bounce-back in copper prices after the base metal retreated from two-week lows on a sharp drop in inventories.
|
|
Down Under, miners gained broadly, with Rio Tinto up 3.5 percent, BHP Billiton up 4.98 percent and Fortescue soaring 239.25 percent, following gains in base metal prices.
|
|
Metals and mining shares followed suit with a 1.1 percent fall after base metal prices fell, reflecting doubts over China's plans to reinvigorate the country's slowing economy.
|
|
BUYING INTO DEFICIT STORIES Nickel was the best-performing base metal last year and analysts are looking for more of the same over the next two years.
|
|
The exchange hasn't had much past success in diversifying its offering beyond the core six base metal contracts, or eight, if you count the two aluminium alloy contracts.
|
|
Miners provided the biggest uplift to the FTSE as a sector after base metal prices rose, with copper and lead gaining ground on fears of a supply squeeze.
|
|
The base metal miners gains came as China's economy grew faster than expected in the first quarter as industrial output grew by the most in over two years.
|
|
The London Metal Exchange Index, a basket of the LME's major base metal contracts, hit a three-year high of 3499.6 in the first week of that month.
|
|
Other base metal miners also pulled back, with First Quantum Minerals Ltd down 3.2 percent to C$14.75 and Lundin Mining Corp off 2.4 percent at C$9.49.
|
|
Shares in the base metal miner popped 40 percent higher on Thursday, in sharp contrast to broad declines for gold miners that reported lower production and higher costs.
|
|
Base metal prices fell as China data stoked fears of a slowdown in the world's top commodities consumer, and oil and stocks declines indicating broad-based risk aversion.
|
|
Li also said the exchange wanted to build base metal pricing benchmarks in China with the aim of developing futures markets in the world's top consumer of commodities.
|
|
A rebound in mine supply is expected to weigh on zinc prices, which was the worst performing base metal last year with a drop of nearly 20 percent.
|
|
The materials group, which includes precious and base metal miners and fertilizer companies, fell 1.4 percent, even as gold climbed to its highest in 3-1/2 months.
|
|
Base metal prices fell as China data stoked fears of a slowdown in the world's top commodities consumer, and oil and stocks declines indicating broad-based risk aversion.
|
|
The mining sector built on the five-year high it reached at the end of last week, riding a wave of rising copper and other base metal prices.
|
|
The desire to exploit the region's resources to fund Bougainville's potential independence comes amid expectations demand for the base metal will exceed supply in the next few years.
|
|
To be sure, a few big deals may be in the works this year, especially for base metal miners still grappling with weak prices such as copper
|
|
Nickel has fallen harder and further than any other major base metal because the supply side has failed to respond to the demand shock rippling out of China.
|
|
Basic resources stocks rose 1.7% on an uptick in iron ore and base metal prices while energy stocks tracked a rebound in oil prices from 13-month lows.
|
|
However, what's troubling Doctor Copper and just about every other LME-traded base metal, with the single exception of nickel, is the accumulating evidence of a global manufacturing downturn.
|
|
The materials group, which includes precious and base metal miners and fertilizer companies, lost 250.44 percent, while a global gold index heavily populated by Canadian miners dropped 22017 percent.
|
|
"The dollar edged lower after the payrolls and encouraged a moderate rally in base metal prices," said Xiao Fu, head of commodity markets strategy at Bank of China International.
|
|
The base metal has rallied 18 percent off mid-January lows around $1,445, making back much of the 503 percent loss it had suffered since the beginning of 2015.
|
|
The materials sector slipped as much as 0.8 percent as base metal prices fell, with iron ore on the Dalian Commodity Exchange closing down 1.7 percent at 520.50 yuan.
|
|
Copper miners slipped after a sharp drop in base metal prices, as investors fretted over a possible fall in demand for the commodities due to the protracted trade dispute.
|
|
The materials group, which includes precious and base metals miners and fertilizer companies, jumped 4.4 percent as higher prices for copper and other industrial metals boosted base metal miners.
|
|
While base metal prices were up on an upbeat performance from China's industrial sector, gold prices were flat in a narrow range and under pressure from higher U.S. Treasury yields.
|
|
Gold and base metal miners perked up in line with a pick up in the price of the precious metal, with Barrick Gold Corp up 0.7 percent at C$21.31.
|
|
They were fairly common when metal prices soared through much of the last decade, but have become rare in the last few years for both base metal and precious metal assets.
|
|
Cooling demand from key buyer China has led the price of the base metal below a six-year low, drying up new investment and leading miners to cut output and jobs.
|
|
She passed along her Oscars to her mother, who displayed them in her front room and polished them so religiously that the gold disappeared and the base metal beneath was revealed.
|
|
RIO DE JANEIRO, Feb 20 (Reuters) - Brazilian iron ore miner Vale SA severely missed quarterly profit estimates on Thursday, thanks largely to impairments related to its base metal and coal operations.
|
|
On Thursday, Vale said it was curbing base metal production to boost returns, though the world's biggest nickel producer hopes the area will one day represent a greater part of earnings.
|
|
The materials group, which includes precious and base metal miners and fertilizer companies, lost 1.2 percent, as gold hit a two-week low and copper fell to its lowest in five weeks.
|
|
TORONTO, Dec 29 (Reuters) - Canada's main stock index ended slightly lower on Friday, as gains for banks and gold miners were offset by losses among base metal miners and some energy names.
|
|
Base metal prices, however, recovered from earlier losses on a weaker dollar with London Metal Exchange copper edging away from one-month lows, although it remained on track for a weekly loss.
|
|
Earlier in the day, the Australian dollar recovered from a wobbly start caused by political uncertainty while Asian shares and base metal prices rose, partly on expectations of economic stimulus from China.
|
|
The opinions expressed here are those of the author, a columnist for Reuters) By Andy Home LONDON, Aug 18 (Reuters) - Copper is underperforming every other major base metal so far this year.
|
|
Down Under, the S&P/ASX 9.913 tacked on 29.91 percent to close at 210,25.79 as most sectors rose, although materials dropped 1.06 percent after base metal prices took a hit overnight.
|
|
While at a vintage shop in New England several years ago, he paid a few hundred dollars for an Art Deco ring with a jade stone in a setting of base metal.
|
|
The materials group, which includes precious and base metal miners and fertilizer companies, lost 0.2 percent, as gold hit a two-week low and copper fell to its lowest in five weeks.
|
|
TORONTO, Sept 21 (Reuters) - Canada's main stock index was little changed in early trade on Thursday, as gold and base metal miners weighed with a fall in commodity prices and heavyweight financials rose.
|
|
"Yesterday's impressive base metal rally has so far stalled into the ShFE session as light regional long liquidation weighs on prices all be it on low volumes," said Marex Spectron in a report.
|
|
Canadian base metal miner First Quantum Minerals Ltd said on Monday it had extended its hedging program for copper sales, as trade war worries push prices lower despite "excess demand" for its production.
|
|
The apparent breakdown in trade negotiations sent copper and nickel prices lower, denting base metal miners including Nickel Mines Ltd and Evolution Mining, which were among top losers in the mining sub-index.
|
|
Along with 828, with its three-story limestone base, metal cornice and terra-cotta details, the city's Landmarks Preservation Commission is considering six other historic buildings along Broadway just south of Union Square.
|
|
Base-metal miner Teck Resources Ltd ended up 5.1 percent at C$29.76, while First Quantum Minerals Ltd rose 9.7 percent to C$13.41 and HudBay Minerals Inc jumped 11.8 percent to C$10.26.
|
|
TORONTO, March 20.4 (Reuters) - Canada's main stock index was marginally higher on Friday as a drop in full-time jobs and slower wage growth in February offset gains in oil and base metal prices.
|
|
" That's real, worldly wisdom, which stands in stark contrast to Bruckner's Polonius-like banalities about how wisdom "urges us to refuse to adore or to detest the base metal, and instead to calmly enjoy it.
|
|
While nickel is the only base metal with gains this year, "current actions over global tariffs have changed the driving force behind this...price performance", said Natalie Scott-Gray, senior metals analyst at INTL FCStone.
|
|
Nickel is the only base metal with gains this year, but "current actions over global tariffs have changed the driving force behind this...price performance", said Natalie Scott-Gray, senior metals analyst at INTL FCStone.
|
|
Gains in base metal prices across European markets is lending support to miners including BHP, said Tony Farnham, an economist with Patersons Securities, adding that BHP is reflecting the rally it had in U.S. last night.
|
|
Shares in metals remained weak on the back of soft global base metal prices after the U.S. softened its stance on Russian company Rusal, which accounted for more than 6 percent of global aluminium output last year.
|
|
Declines in base-metal prices had already helped to weigh the Australian dollar, which took another leg down after China Caixin Services PMI for April showed the sector's growth cooled to its slowest in nearly a year.
|
|
The materials group, which includes precious and base metal miners and fertilizer companies, lost 0.3 percent, with First Quantum Minerals Ltd down 2.2 percent at C$13.15 and HudBay Minerals Inc off 2.2 percent at C$7.95.
|
|
Analysts at Capital Economics caution that zinc's upcycle could be clipped, if, as it predicts, Chinese steel prices weaken again in the second half of the year, reducing demand in the biggest consumer of the base metal.
|
|
ET Canada's main stock index hit a more than nine-month high on Monday as commodity price gains helped boost the heavyweight energy sector and base metal miners, although gold miners pulled back after last week's rally.
|
|
"It (the trade war) is likely to weaken demand for base metal because China has retaliated today by allowing the Chinese yuan to weaken in line with the fundamentals," said Jeff Ng, Continuum Economics' chief economist for Asia.
|
|
LME TRADING VOLUME: The LME's three-month trial of switching to electronic closing prices for one of its benchmark base metal contracts has failed to lift volumes, industry sources said, lending further support to traditional open outcry trading.
|
|
Gold and silver rallied to their highest since January 2015 as the Bank of Japan's decision the previous day to hold off expanding monetary stimulus weighed on stock markets and the dollar, while base metal prices also advanced.
|
|
But several base metal miners featured on the negative side of the ledger as copper prices fell, with First Quantum Minerals Ltd down 1.6 percent at C$14.19 and Lundin Mining Corp falling 3.1 percent to C$7.81.
|
|
RIO DE JANEIRO, April 26 (Reuters) - Vale is curbing base metal production to boost returns, though the world's biggest nickel producer hopes the area will one day represent a greater part of earnings, company executives said on Thursday.
|
|
The base metal miners gains came as China's economy grew faster than expected in the first quarter as higher government infrastructure spending and a gravity-defying property boom helped boost industrial output by the most in over two years.
|
|
Nickel has been caught up in the broader metallic sell-off but it is the only London Metal Exchange base metal still to be in positive year-to-date territory, up four percent at a current $13,120 per tonne.
|
|
NICKEL RALLY TO BACKTRACK Nickel, the best performing base metal so far this year with gains of 20.9%, saw a heated rally during much of July as China's Tsingshan went on a buying spree and speculators also piled in.
|
|
Fabio Schvartsman said on the sidelines of an investor day presentation that Vale opted to boost investment in the nickel mine as it sees demand for the base metal picking up as part of an expected electric vehicle revolution.
|
|
BEIJING, March 12 (Reuters) - London base metal prices rose across the board in early Asian trade on Tuesday, supported by a weaker dollar and tracking stock markets higher after the European Commission agreed to changes in a Brexit deal.
|
|
TORONTO, Aug 21 (Reuters) - Canada's main stock index turned slightly higher in early trade on Monday as gains for gold and base metal miners on the back of higher gold and copper prices offset losses for heavyweight energy stocks.
|
|
ZINC SPECULATORS: The net long position in zinc was 26 percent of open interest as of Thursday, the largest speculative long of any base metal and close to the highest since November, brokers Marex Spectron said in a note.
|
|
The mining sector had surged to a five-year high at the end of last week, riding a wave of rising copper and other base metal prices, but Tuesday's dip suggested investors were taking profits after a strong run.
|
|
Such broader market turbulence, however, doesn't explain why the CME's copper contract registered year-on-year growth of 230.7 percent against the LME contract's 22015 percent, nor why base metal volumes on the Shanghai Futures Exchange (ShFE) have been booming.
|
|
London Metal Exchange tin stocks have sunk below 2,000 tonnes to the least since 1998, while benchmark LME tin prices have fallen more than 7 percent so far this year, making it the second worst performing base metal after nickel.
|
|
Canada's Lundin Mining Corp said on Thursday it does not plan to revise its hostile bid for fellow base-metal miner Nevsun Resources Ltd after it was trumped by a C$1.86 billion offer from China's Zijin Mining Group Co Ltd .
|
|
Then she discovered that her base-metal bangle was missing and quickly realized that she could only have lost it to the person she was stealing from; she'd been distracted by the baubles and the appeal of those delicate earlobes.
|
|
MANILA, March 5 (Reuters) - Shanghai base metal futures fell on Tuesday, with nickel retreating from a near five-month high, as the U.S. dollar strengthened and China cut its economic growth target and pledged measures to support its cooling economy.
|
|
The fall in base metal and steel prices over the past two years has been the biggest and longest rout since the 2008 global financial crisis, as China's slowing economic growth has fueled concerns about waning demand for industrial metals.
|
|
Canada's main stock index edged up on Monday as higher bond yields supported financial shares and base metal miners got a boost from a 2-year peak for copper prices, but the TSX still lost ground for the third straight month.
|
|
But its base metal component slumped to $528 million in the period, down $250 million from the prior quarter, due to lower nickel, copper and cobalt prices and lower volumes due to a scheduled maintenance shutdown at Sudbury operations in Canada.
|
|
TORONTO, Nov 22 (Reuters) - Canada's benchmark stock index rose to a fresh 17-month high on Tuesday as base metal mining and financial shares rose, offsetting some profit-taking in energy shares ahead of a meeting next week of major oil producers.
|
|
LME nickel has been the best performing base metal so far this year, rising 210.7% as of Tuesday while most other base metals have been falling, as investors bet on the rising demand for the EV battery input metal and falling stockpiles.
|
|
"(Streaming companies') opportunity universe has shrunk to where now it's the base metal companies that might still need that type of transaction," said portfolio manager Joe Foster at New York-based Van Eck, a major institutional investor in the precious metals sector.
|
|
TORONTO, June 13 (Reuters) - Canada's main stock index ended barely lower on Tuesday, with a sharp jump in shares of Shaw Communications Inc on deals to sell data centers and buy wireless airwaves was offset by losses for financial stocks and some base metal miners.
|
|
"Silver is clearly profiting from two different sides at once just now: from the higher gold price on the one hand and from firm base metal prices on the other, as silver is used for the most part in industry," Commerzbank said in a note.
|
|
This is particularly true of aluminum, which accounts for around two-thirds of the metal registered with the exchange, but the trend of moving metal out of the LME system just as fast as possible is playing out across all the base metal markets.
|
|
This is particularly true of aluminium, which accounts for around two-thirds of the metal registered with the exchange, but the trend of moving metal out of the LME system just as fast as possible is playing out across all the base metal markets.
|
|
The three gold, silver, and base-metal medallions commemorate the summit as a "momentous step to world peace" and show Singapore&aposs role as a "neutral host, and an economic and security gateway between the East and the West," according to a news release from the mint .
|
|
TORONTO, July 31 (Reuters) - Canada's main stock index edged higher on Monday as higher bond yields supported financial shares and its base metal miners got a boost from a 2-year peak for copper prices, but the TSX still lost ground for the third straight month.
|
|
Base metal prices fell on trade tensions but oil recovered after Saudi announced plans for OPEC and Russian led production curbs to be extended into 2019 Financial stocks fell 2.2 percent to close at its lowest in over a year, with the 'Big Four' banks slipping between 1.7 percent and 2.8 percent.
|
|
Gains for gold and base metal miners on higher commodity prices helped offset the downswing, while Bombardier Inc gained 2.8 percent to C$2.62 after Canada said it would provide the plane and train maker with C$372.5 million in repayable loans for two of its jet programs and defend the deal from the trade challenge Brazil formally launched on Wednesday.
|
|