International - Copperbelt Katanga Mining

Tesla sold a record 70,847 China-made vehicles in December

January 12, 2022January 16, 2022 admin

U.S. electric vehicle maker Tesla Inc sold 70,847 China-made vehicles in December, the highest monthly rate since it started manufacturing in Shanghai in 2019, data from the China Passenger Car Association (CPCA) showed on Tuesday. Tesla’s December sales, which included 245 for export, were almost three times the amount achieved in the same month last year and 34% higher than November’s sales. It also brought Tesla’s total sales of China-made cars for last year to at least 473,078, according to Reuters’ calculations of CPCA’s data, which prior to April did… Read More Here

Gold International

Gold gains as dollar, yields ease; traders focus on U.S. inflation data

January 11, 2022January 11, 2022 admin

Gold prices rose on Tuesday, supported by a weaker U.S. dollar and Treasury yields, as traders awaited December inflation data and weighed bets for quicker interest rate hikes by the Federal Reserve. Spot gold rose 0.4% to $1,809.22 per ounce by 0723 GMT. U.S. gold futures were up 0.6% to $1,808.80. “Pullback in both the U.S. dollar and 10-year treasury yields are supporting gold prices, but the fact that markets are still seeing three to four interest rate hikes this year is limiting the upside potential,” said Margaret Yang, a… Read More Here

Iron Ore International

Iron ore price extends gains on China demand hopes

January 7, 2022January 7, 2022 admin

Iron ore rose on Friday as traders returned from the New Year holidays feeling optimistic about potential demand recovery in China. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $128.03 a tonne during morning trading, up 0.3% compared to Thursday’s closing, the highest since October 12. Iron ore’s most-active May contract on China’s Dalian Commodity Exchange ended daytime trading 1.4% higher at 719 yuan ($112.78) a tonne, rising for a fourth straight session and touching 725.50 yuan earlier in the day. “The… Read More Here

Gold International

Gold price slides to 1-week low on hawkish Fed signal

January 7, 2022January 7, 2022 admin

Gold prices slid to a one-week low on Thursday, pressured by a rallying dollar and bond yields after the US Federal Reserve signalled quicker increases to interest rates. Spot gold declined 1.1% to $1,789.20 an ounce by 12:10 p.m. EDT, its lowest since Dec. 29. US gold futures on the Comex were down nearly 2.0%, trading at $1,789.00 an ounce. The Fed minutes released on Wednesday showed officials had discussed shrinking the central bank’s overall asset holdings, as well as raising rates sooner than expected to fight inflation. As a result, the… Read More Here

Copper International

Copper price set for the biggest weekly decline since November

January 7, 2022January 7, 2022 admin

Copper price rose on Friday, supported by a rebound in equities and tight supply, but a firmer dollar and expectations of an early US interest rate hike kept the metal on track for its biggest weekly decline since November. March delivery contracts were exchanging hands for $4.39 a pound ($9,658 a tonne) on the Comex market in New York, up 0.9% compared to Thursday’s closing. The most-traded February copper contract on the Shanghai Futures Exchange was down 0.5% at 69,560 yuan ($10,910.69) a tonne. “Market sentiment improved a little bit… Read More Here

Copper International

Copper price slips as dollar firms after Fed minutes

January 6, 2022January 6, 2022 admin

Copper price fell on Thursday as the dollar firmed after the US Federal Reserve’s signaled that may raise interest rates sooner than expected. The Fed at its December meeting began plans to start cutting the amount of bonds it is holding, with members saying that a reduction in the balance sheet likely will start sometime after the central bank begins raising interest rates. “A very tight job market and unabated inflation might require the Fed to raise interest rates sooner than expected,” policymakers said, fuelling expectations of a rate hike in March.… Read More Here

Cobalt International Mining in DRC

Cobalt industry to get a big boost from the shift to a green economy – report

January 5, 2022January 5, 2022 admin

The global cobalt supply chain is set to remain highly geographically concentrated in the coming years — in the DRC for mine production and in China for refining — which will likely pose procurement challenges for battery manufacturers, market analyst Fitch Solutions finds in its latest industry report. Yet the global cobalt industry is set to receive a significant boost from the worldwide shift to a green economy, Fitch says, as the ferromagnetic blue metal is a key component of rechargeable batteries and valued for its stability, hardness, anti-corrosion and high-temperature resistance characteristics. Used… Read More Here

Copper International

Copper price down, pressured by stronger dollar

January 5, 2022January 5, 2022 admin

The copper price fell on Tuesday pressured by a stronger dollar. March delivery contracts were exchanging hands for $4.40 a pound ($9,680 a tonne) on the Comex market in New York, down 0.4% compared to Monday’s closing. Copper price on the Shanghai Futures Exchange ended daytime trading 0.5% higher at 70,380 yuan ($11,043.46) a tonne. Shanghai copper benchmark has gained more than 20% this year. The most-traded February copper contract on the Shanghai Futures Exchange fell 0.5% to 69,760 yuan ($10,948.07) a tonne. The dollar index held firm, after rising 0.6% in the… Read More Here

Copper Covid-19 International

Copper price down as omicron fears subside

December 9, 2021January 6, 2022 admin

The copper price retreated on Thursday after a three-day advance as the dollar firmed, omicron fears subsided and attention turned to the unwinding of US monetary stimulus. March delivery contracts were exchanging hands for $4.31 a pound ($9,482 a tonne) by midday on the Comex market in New York, down 1.8% compared to Wednesday’s closing. “While prices for the metal were supported by low inventories, there was pressure from cooling growth in top consumer China and the tightening of US monetary policy,” said Concord House analyst Duncan Hobbs. “There is a… Read More Here

International Mining technology

Metso Outotec awarded with more than 100 new Life Cycle Services agreements in 2021

December 9, 2021January 5, 2022 admin

Metso Outotec has experienced substantial growth in its Life Cycle Services (LCS) business by capturing more than 100 new customer agreements during 2021. The customer base for the new agreements covers global and regional mining companies and large as well as mid-size quarries and aggregates contractors. An LCS agreement is typically signed for a 12-month period but can also cover multiple years of cooperation. Metso Outotec is a market leader in providing unique Life Cycle Services programs for its customers. Through its deep knowledge of the entire customer process and… Read More Here