Copper headed for its biggest weekly loss since 2022 and iron ore extended a slump toward $100 a ton as a policy meeting in China failed to lay out more stimulus to shore up metals demand. Futures for copper have fallen by about 5% in London this week amid a broad retreat that’s also battered […]
Battery Metals
Gold price sets new high as traders bet on Fed rate pivot
Gold steadied after setting another record on Wednesday as traders upped their bets on Federal Reserve rate cuts while weighing the uncertain political outlook in the US. Spot gold climbed to an all-time high of $2,483.73 an ounce before paring gains. By 12:45 p.m. ET, it had retreated to $2,455.71 an ounce. US gold futures […]
Iron ore price slumps to 3-week low on weak China demand, strong global supply
Iron ore futures prices slumped to a nearly three-week low on Wednesday, undermined by weak seasonal demand from top consumer China and mounting global supply. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade nearly 2.7% lower at 805 yuan ($110.78) a metric ton, the lowest since June 26. […]
Gold price surpasses $2,470 for a new all-time high
Gold has set another all-time high as expectations for Federal Reserve rate cuts grow while some traders ramped up bets on a second Donald Trump presidency. Spot gold was up 1.7% to $2,464.39 an ounce by 2:15 p.m. ET, having earlier hit a new record of $2,466.02 an ounce. US gold futures also surged 1.7% […]
US approaches Indonesia for multinational critical mineral partnership
The US has approached Indonesia about joining a multinational partnership to boost the Southeast Asian nation’s environmental standards as the two countries discuss a critical minerals deal, a senior US official said on Monday. US Under Secretary of State for Economic Growth, Energy, and the Environment Jose Fernandez spoke to the Indonesian government about the […]
Indonesian onslaught wipes out Australia’s nickel industry
An influx of cheap nickel supply from Indonesia has all but killed off Western Australia’s long-running nickel sector. Nickel prices halved in 2023, dipping below $16,000 per tonne in December as surpluses widened. According to Benchmark Mineral Intelligence, Indonesia accounted for 49% of nickel production in 2023, up from less than 5% just eight years ago. […]
Using sodium to make more sustainable batteries
The element lithium is used widely in batteries because it results in long-lasting, stable energy storage. However, it’s a finite resource, so researchers are hard at work trying to identify alternate materials to use in battery production. Using the Canadian Light Source at the University of Saskatchewan, a team from McGill University has recently come […]
Iron ore price heads for weekly fall on profit-taking ahead of key China meeting
Iron ore futures are set for a weekly fall amid a flurry of profit-taking, ahead of top consumer China’s third plenum, although growing expectations of US rate cuts pushed up prices on Friday. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) traded 0.36% higher at 827.5 yuan ($113.95) a metric ton, […]
Gold price tops $2,400 again on signs of cooling inflation
Gold has once again crossed the $2,400-an-ounce mark to close in on another record after an unexpected drop in US consumer prices bolstered hopes of a Federal Reserve interest rate cut in September. Spot gold jumped 2.0% to $2,418.78 an ounce by 9:10 a.m. ET Thursday, for its highest in almost two months. US gold […]
CMOC to double copper output at Congo mines to 1 million tonnes by 2028
CMOC Group plans to more than double copper output from its mines in the Democratic Republic of Congo over the next four years, setting a new much higher target for the metal as future demand is seen strengthening. The Chinese producer said it aims to raise output of the red metal to between 800,000 tons […]
