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Copper price rises while Commerzbank sees setback in 2022 1 Copper International 

Copper price rises while Commerzbank sees setback in 2022

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The copper price rose on Wednesday, still buoyed by high Chinese imports. China’s copper imports in November were up for a third straight month, customs data showed, hitting their highest since March. March delivery contracts were exchanging hands for $4.38 a pound ($9,636 a tonne) by midday on the Comex market in New York, up 1.1% compared to Tuesday’s closing. However, copper is set to lose momentum as supply increases in the next months. Market to be well supplied in 2022 The global refined copper market is expected to be in a… Read More Here
Copper price up as China imports rise 2 Copper International 

Copper price up as China imports rise

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Copper prices rose on Tuesday after China’s central bank eased monetary policy and as imports into the world’s top metals consumer climbed in November. The People’s Bank of China said on Monday it would cut the amount of cash that banks must hold in reserve, releasing the funds in long-term liquidity to bolster slowing economic growth. “China’s policy easing has sparked optimism; meanwhile, we have probably seen the worst in the property market,” said ING analyst Wenyu Yao. Meanwhile, China’s copper imports in November rose for a third straight month,… Read More Here
Metso Outotec targets green steel with Circored 3 Equipment & Technology International Mining technology 

Metso Outotec targets green steel with Circored

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Metso Outotec has launched the next generation of the 100% hydrogen-based Circored process for fine ore production to continue its decarbonisation offering for the steelmaking industry. The company said the process uses hydrogen as a reducing agent instead of energy produced from fossil fuels, allowing the iron and steel industry to “efficiently tackle the decarbonisation challenge.” The flexible Circored process produces highly metalized DRI (direct reduced iron) or HBI (hot briquetted iron) that can directly be used as feed material in electric arc furnaces for carbon-free steelmaking, it explained. The process… Read More Here
Gold holds advance as virus adds to risks for global growth 4 Gold International 

Gold holds advance as virus adds to risks for global growth

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Gold held onto Friday’s gain amid risk-off sentiment as investors weigh mixed labor data from the US, the Federal Reserve’s hawkish tilt and the threat of the omicron variant. Data Friday showed US job growth registered its smallest increase this year while the unemployment rate fell by more than forecast to 4.2%, offering a mixed picture that may nevertheless push the Fed to quicken the wind-down of pandemic stimulus. It came after Chair Jerome Powell signaled faster tapering of asset purchases amid elevated inflation. Meanwhile, Goldman Sachs Group economists cut their forecasts for the… Read More Here
US slaps sanctions on DRC national over Gertler ties 5 Mining in DRC International 

US slaps sanctions on DRC national over Gertler ties

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The United States on Monday imposed sanctions on a Democratic Republic of Congo national it accused of providing support to Israeli mining magnate Dan Gertler, part of a policy to target corruption in the central African country. The U.S. Treasury Department accused Alain Mukonda in a statement of making payments into proxy bank accounts for Gertler following his designation in 2017. The Treasury said Mukonda made cash deposits totaling between $11 million and $13.5 million into accounts of companies he incorporated that ultimately belong to Gertler’s family. Washington’s designation of Mukonda was the first… Read More Here
Sandvik expands digital software offering 6 Mining technology International 

Sandvik expands digital software offering

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Mining equipment provider Sandvik will acquire Deswik, a provider of mine planning software, to broaden its digital solutions offering. Sandvik described Deswik as a “top-tier supplier of integrated software platforms” supporting digitalisation throughout mine planning stages. Furthermore, Sandvik said it will enhance its software and digitalisation sector presence through Deswik’s “high-quality customer base.” The acquisition will fill a value chain gap in Sandvik’s Mining and Rock Solutions’ offering by increasing upstream mining coverage and enabling opportunities for end-to-end optimisation solutions, including incorporating electrification at the mine planning stage. The core… Read More Here
Jubilee upbeat about outlook for copper, PGM markets 7 Copper International Mining in Zambia 

Jubilee upbeat about outlook for copper, PGM markets

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Metals processor Jubilee Metals Group sees a rosy outlook for the copper and platinum group metal (PGM) markets in the years ahead. “The outlook for copper, in particular, remains buoyant, with many predictions that 2030 will see a doubling in demand for copper. I for one, see the supply side being severely challenged, with Chile as a major contributor to the copper supply, being challenged technically and socially. “The large copper systems that are now in favour are few and far between and have a gestation period of some 12 years. The lack of big projects being developed will, to me, facilitate smaller copper production from both surface and underground mines,”… Read More Here
Gold falls to one-month low on Powell's hawkish remarks 8 Gold International 

Gold falls to one-month low on Powell’s hawkish remarks

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Gold plumbed a one-month low on Thursday as US Federal Reserve chairman Jerome Powell‘s comments on the need to tame inflation bolstered bets for faster monetary policy tightening and offset Omicron-driven safe-haven inflows into bullion. Spot gold fell 0.4% to $1 775.80 per ounce by 11:02 GMT, having earlier hit its lowest since Nov. 4. US gold futures dropped 0.5% to $1 775.30. In his second day of testimony in Congress on Wednesday, Powell said the Fed needed to be ready to respond to the possibility that inflation might not recede… Read More Here
Solid-State Batteries Promise Electric Car Popularity Boost, But Technical Mountains Await 9 Battery Metals International 

Solid-State Batteries Promise Electric Car Popularity Boost, But Technical Mountains Await

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Solid-state battery technology should be the knight in shining armor for the electric car revolution, as it steps in to slash the cost of batteries and make living with a plug-in car just like an internal combustion engine (ICE) only better. The trouble is, the timetable for adoption keeps slipping and a mass market-ready product isn’t likely this decade, allowing time for other solutions like fuel cells to make up lost ground. Solid-state batteries promise fast, ubiquitous charging, and enough power to outrun ICE cars not just in the city,… Read More Here
Copper price stable as omicron concerns ease 10 Copper International 

Copper price stable as omicron concerns ease

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The copper price was stable on Wednesday as concerns about the new omicron coronavirus variant that has rattled market sentiment in recent days eased. Copper for delivery in March was down 0.3% on the Comex market in New York, touching $4.26 per pound ($9,372 per tonne).  The most-traded January copper contract on the Shanghai Futures Exchange eased 0.4% to 69,560 yuan ($10,932.98) a tonne. The European Union drug regulator said on Tuesday existing covid-19 vaccines would provide protection against omicron, calming markets shaken by Moderna CEO saying existing shots would be… Read More Here

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