International - Copperbelt Katanga Mining

Global steel production to grow at 32% annual average until 2025 – report 1

Global iron ore production growth will accelerate in the coming years, bringing an end to the stagnation that has persisted since iron ore prices hit a decade-low average of $55 per tonne in 2015, market analyst Fitch Solutions predicts in its latest industry report. Fitch forecasts global mine output growth to average 2.4% over 2021-2025 compared to the negative 2% over the previous five years. This would lift annual production by 378 million tonnes in 2025 compared to 2020 levels, roughly the equivalent of India and Russia’s combined 2020 output, Fitch says. Brazil Brazil’s iron… Read More Here

Gold International

Gold price rebounds on rising yields, inflation concerns

February 23, 2021February 23, 2021 admin

Gold prices rebounded on Monday despite a jump in US Treasury yields, as expectations for rising inflation triggered equity valuation concerns and drove investors towards the safe haven metal. Spot gold gained 1.0% to $1,810.20 per ounce by 12:25 p.m. EST, its highest in nearly a week, while US gold futures for April delivery rose 1.9% to $1,811.10 per ounce in New York. “We are seeing investment flows into gold as market participants grow more anxious about rising real rates that can impact equity valuations,” TD Securities commodity strategist Daniel… Read More Here

International Iron Ore

Iron ore price bounces back on strong demand and shipment doubts

February 23, 2021February 23, 2021 admin

Iron ore prices bounced back on Monday after a slight decline on Friday, as demand remains strong in China’s steel sector and doubts have been raised about Brazilian shipments. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $175.96 a tonne, up nearly 1.38% from Friday’s trade. Capacity utilization rates at 247 furnaces across China rose to 92.19% on February 19, from 90.94% before the Lunar New Year holiday. Lower shipments from Brazil are supportive of iron ore prices, according to Brazilian XP Investimentos.… Read More Here

Copper International

Copper surges above $9 000 as major deficit drives record rally

February 22, 2021 admin

Copper rallied above $9 000 a ton for the first time in more than nine years on bets that increased demand driven by the recovery from the pandemic will spur a historic deficit, putting the economic bellwether on course for a record run of monthly gains. Prices climbed more than 3% on Monday and are heading for an unprecedented eleventh monthly rise in February. Base metals are on tear on expectations that post-crisis consumption will outstrip near-term supply, with raw materials like copper and nickel getting an additional boost from… Read More Here

Copper International

Copper price keeps soaring as bullish sentiment prevails

February 20, 2021February 20, 2021 admin

Copper prices continued to soar on Friday, surpassing the nine-year peak seen during the previous session, as bullish sentiment towards base metals resumed after the Chinese New Year. Copper March futures jumped to as high as $4.0910 a pound ($9,019.16 a tonne) in New York, its highest since September 2011. The industrial metal is on its way for a third straight weekly gain, having gone up by nearly 15% year-to-date and 7.3% over the past week alone. While copper’s ascent may be an indicator of higher demand, some market analysts believe it… Read More Here

Cobalt International Lithium Mining in DRC Nickel

Battery metals are critical over the next decade, Roskill says

February 19, 2021February 19, 2021 admin

The growing adoption of electric vehicles (EVs) is driving the increasing demand for lithium, nickel and cobalt – critical metals used as cathode materials for lithium-ion batteries in the automotive, energy and electronics industries. According to Deloitte’s Electric Vehicle Trends, EV sales are forecast to grow from 2.5 million in 2020 to 11.2 million by 2025, and to 31.1 million by 2030. Analysts from Roskill, a commodity research firm and a leader in critical materials supply chains, provide an outlook on battery metals’ markets over the next decade. Lithium Global demand for… Read More Here

International Iron Ore

Iron ore price highest since 2011 on demand outlook in China

February 19, 2021February 19, 2021 admin

Iron ore prices jumped on the first day of trading since the Lunar New Year in China, reaching their highest level since September 2011. According to Fastmarkets MB, benchmark fines of 62% Fe imported into northern China (CFR Qingdao) changed hands to $ 175.05 a tonne, up nearly 4.9% from Wednesday’s trade and by 9% since the beginning of the year. Brazil’s daily 65% Fe iron ore index rose 4.2% to a record $ 198 a tonne. In China, labor force participation rates did not slow down as much as… Read More Here

International

Huawei turns to pig farming as smartphone sales fall

February 19, 2021February 19, 2021 admin

Huawei is turning to technology for pig farmers as it deals with tough sanctions on its smartphones. The Chinese telecoms giant was stopped from accessing vital components after the Trump administration labelled it a threat to US national security. In response to struggling smartphone sales, Huawei is looking at other sources of revenue for its technology. Along with Artificial Intelligence (AI) tech for pig farmers, Huawei is also working with the coal mining industry. Former US President Donald Trump claimed Huawei can share customer data with the Chinese government, allegations… Read More Here

Gold International

Gold records fifth price drop in two months

February 18, 2021February 18, 2021 admin

Gold prices fell to their lowest level in over two months on Wednesday as surging bond yields and the strengthening US dollar continued to weigh on the precious metal. Spot gold is heading for its fifth consecutive decline, down 1.1% to $ 1,775.04 an ounce at 11:40 a.m. EST. US gold also fell 1.4% to $ 1,773.00 an ounce in New York. Rising inflation expectations pushed US Treasury yields to their highest level since late February 2020. Breakeven inflation, a measure of expected inflation, is at its highest since August 2014… Read More Here

Nickel International

Nickel price at highest since 2014 amid growing EV battery demand

February 12, 2021February 12, 2021 admin

Nickel has quietly been going neck-in-neck with copper since the start of the base metals rally in mid-2020, and is now approaching a key level that analysts believe could spur investment in new supply. Three-month nickel on the LME reached a new multiyear high Thursday at $18,534 per tonne. The metal has been putting in strong performance despite expectations of demand slowdown due to the Chinese New Year holiday, up over 11% since the turn of the calendar year. Year-on-year, the contract has gained 30% amid rising demand expectations pertaining… Read More Here