You are here

Category: International

Gold price steadies near nine-month low as dollar rally powers on 1 Gold International 

Gold price steadies near nine-month low as dollar rally powers on

admin
Gold steadied near the lowest in more than nine months as the dollar edged higher in anticipation of US inflation data this week that’s set to shape the magnitude of the Federal Reserve’s next rate hike.  Investors concerned about the prospect of a global economic downturn have turned in droves to the greenback, which is already up more than 2% this month. That’s capped gold, despite support from an easing in US Treasury yields. “Any significant or lasting rise in the gold price is being precluded not only by the… Read More Here
ANGLO AMERICAN ANNOUNCES FIRST COPPER PRODUCTION FROM QUELLAVECO PROJECT IN PERU 2 Copper International New Mining Projects 

ANGLO AMERICAN ANNOUNCES FIRST COPPER PRODUCTION FROM QUELLAVECO PROJECT IN PERU

admin
Anglo American plc announces first production of copper concentrate from its Quellaveco project in Peru – a major milestone as Quellaveco nears completion ahead of receiving final regulatory clearance for commercial operations to begin. Tom McCulley, who has led Anglo American’s development of Quellaveco, said: “First copper production at Quellaveco is a key milestone in our delivery of this world-class asset, on time and on budget.  The fact that we are today producing copper less than four years after project approval, including through two years of considerable pandemic-related disruption, is… Read More Here
Copper price hits a 20-month low on recession fears 3 Copper International 

Copper price hits a 20-month low on recession fears

admin
Copper prices hit a 20-month low on Monday as persistent worries that a recession would dampen metals demand hit a market with thin summer volumes. Copper for delivery in September fell 3% from Friday’s settlement, touching $3.41 per pound ($7,517 per tonne) Monday morning on the Comex market in New York, the lowest since November 2020. “The dollar strength was the trigger that came on top of the recent recession fears, pulling the rug from under the market,” said Ole Hansen, head of the commodity strategy at Saxo Bank in… Read More Here
Gold nears 9-month low as looming rate hikes lift dollar 4 Gold International 

Gold nears 9-month low as looming rate hikes lift dollar

admin
Gold prices fell on Monday, lingering near a recent nine-month low, after strong US job market data last week boosted the dollar and the likelihood of another big rate hike by the Federal Reserve. Spot gold fell 0.3% to $1 736.11/oz by 12:17 GMT. US gold futures dipped 0.6% to $1 732.40. The dollar rose about 0.8% dimming greenback-priced gold’s appeal among overseas buyers. The jobs report published on Friday tempered some of the recessionary fears that were starting to cast doubts over how far the Fed could go in terms of… Read More Here
Copper price up supported by pullback in the dollar 5 Copper International 

Copper price up supported by pullback in the dollar

admin
Copper prices climbed on Thursday after hitting a near 20-month low in the previous session, supported by a slight pullback in the US dollar. Copper for delivery in September rose 5% from Wednesday’s settlement, touching $3.58 per pound ($7,876 per tonne) Thursday morning on the Comex market in New York, after hitting its lowest since November 2020 this week. The most-traded August copper contract in Shanghai rose 0.2% to 57,950 yuan ($8,641.90) a tonne. The dollar eased 0.1% after scaling a 20-year peak against its rivals, making greenback-denominated metals slightly less expensive… Read More Here
Tesla pulled levers on pricing and cost during a tough quarter 6 Battery Metals International Mining technology 

Tesla pulled levers on pricing and cost during a tough quarter

admin
It began with a bang — a huge party celebrating the opening of its newest plant in Austin, Texas — but Tesla’s second quarter didn’t stay ebullient. As battery material costs soared and its most productive plant shut down for weeks amid Shanghai’s Covid outbreak, Chief Executive Officer Elon Musk took several steps to buoy revenue and rein in expenses: raising prices, pausing hiring and cutting jobs. Tesla was unable to “pull a rabbit out of a hat,” as Musk put it during the last earnings call in April. While… Read More Here
Copper price crash deepens as recession fears loom over metals trading 7 Copper International 

Copper price crash deepens as recession fears loom over metals trading

admin
Copper resurfaced above its $7,500 per ton plunge as fears of a global economic slowdown piled pressure on industrial metals and deepened their dive from record highs just months ago. Investors are fretting over a range of threats to demand, from Europe’s gas crisis to a US slowdown and renewed virus flare-ups in China. After a 4.2% slump on Tuesday to its lowest close in 19 months, copper fell almost 5% on Wednesday, before paring some losses. Aluminum climbed while nickel and tin sank. “Copper’s caught a bit of a… Read More Here
Gold price hits nine-month low as dollar reaches two-decade high 8 Gold International 

Gold price hits nine-month low as dollar reaches two-decade high

admin
Gold extended its selloff to a nine-month low on Wednesday as investors await the US Federal Reserve’s June meeting minutes for clarity on the nature and pace of interest rate hikes coming up. Spot gold dropped 1.6% to $1,737.11 per ounce by 1:15 p.m. ET, adding to its losses from the previous session. US gold futures also fell 1.6% to $1,735.90 per ounce in New York. Meanwhile, the US dollar again hit a two-decade high, emerging as the preferred haven of late for investors looking to hedge growing recession fears, while also… Read More Here
Gold price sinks to half-year low amid growing recession fears 9 Gold International 

Gold price sinks to half-year low amid growing recession fears

admin
Gold prices slumped to their lowest in more than six months on Tuesday, as the US dollar rallied amid growing recession concerns that caused losses across risk assets. Spot gold dropped 2.2% to $1,767.93 per ounce by 2:50 p.m. ET, the first time it has fallen below $1,800 since mid-May. US gold futures were down 1.9% to $1,767.60 per ounce in New York. US stocks also slumped on Tuesday with growing fears that the Federal Reserve’s rate hikes to damp inflation could cause a slowdown in the economy. Meanwhile, the… Read More Here
Copper price lowest since November 2020 on economic slowdown worries 10 Copper International 

Copper price lowest since November 2020 on economic slowdown worries

admin
Copper prices extended a decline on Tuesday as aggressive interest rates, a spike in covid-19 cases in China, potential recession, and rising inventories weighed on investor sentiment. Copper for delivery in September fell 4.8% from Monday’s settlement, touching $3.43 per pound ($7,546 per tonne) Tuesday morning on the Comex market in New York, the lowest since November 2020. The most-traded August copper contract in Shanghai ended daytime trading down 1.9% to 60,110 yuan ($8,975.66) a tonne by midday trade. “There was a bull trap set early at the open today as… Read More Here

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Copperbelt Katanga Mining will use the information you provide on this form to be in touch with you and to provide updates and marketing.