Metals News Results

  • Investors Sell Safe Bets in Anticipation of Return to Economic Growth -- Update

    By Amrith Ramkumar and Julia-Ambra Verlaine. U.S. government bond yields surged and gold prices tumbled after Friday's better-than-expected jobs report, the latest sign that investors are wagering on brighter days ahead for the world economy. The heavy selling of gold and Treasurys-- which fall in price as yields rise-- marks a major reversal in financial markets.

  • Investors Sell Safe Bets in Anticipation of Return to Economic Growth

    U.S. government bond yields surged and gold prices tumbled after Friday's better-than-expected jobs report, the latest sign that investors are wagering on brighter days ahead for the world economy. The heavy selling of gold and Treasurys-- which fall in price as yields rise-- marks a major reversal in financial markets. For months, investors had favored these haven investments as the coronavirus devastated the world economy and unemployment soared.

  • Is Inflation Dead? Some Investors Bet It Could Roar Back

    Hedge funds are betting that inflation will pick up as central banks and governments world-wide print and spend vast amounts of money to support jobs and businesses hit by the coronavirus pandemic. That bet goes against the weight of recent history. Gold, a classic inflation hedge, has surged 14% this year as investors fret that central banks will print a lot of money, debasing its value.

  • Brazil's Coronavirus Crisis Disrupts Iron-Ore Market; Prices Surge -- Update

    Brazil's deadly coronavirus outbreak has disrupted global supplies of iron ore just as demand from China is revving up, pushing the price of the steel ingredient to a seven-month high. Iron ore is one of the most heavily traded commodities and can influence the price of materials used in everything from buildings to cars. Front-month futures for ore with 62% iron content jumped 10% to nearly Yen759 a metric ton Wednesday on China's Dalian Commodity Exchange.

  • Brazil's Coronavirus Crisis Disrupts Iron-Ore Market, as Prices Surge

    Brazil's deadly coronavirus outbreak has disrupted global supplies of iron ore just as demand from China is revving up, pushing the price of the steel ingredient to a seven-month high. Iron ore is one of the most heavily traded commodities and can influence the price of materials used in everything from buildings to cars. Front-month futures for ore with 62% iron content jumped 10% to nearly Yen759 a metric ton Wednesday on China's Dalian Commodity Exchange.

  • Copper Rebounds on Hopes for Economic Recovery

    Copper prices rose Friday, extending a recent rebound with investors anticipating an uptick in demand as parts of the world roll back lockdown measures and trade tensions ease. Front-month copper futures for May delivery rose 1% to $2.4085 a pound on the Comex division of the New York Mercantile Exchange, recording a fifth consecutive climb and their best week since February 2019. Prices have recovered 14% from a multiyear low hit in late March, lifted by nascent optimism that...

  • Copper Rebounds on Hopes for Economic Recovery

    Copper prices rose Friday, extending a recent rebound with investors anticipating an uptick in demand as parts of the world roll back lockdown measures and trade tensions ease. Most actively traded copper futures for July delivery rose 1.4% to $2.4145 a pound on the Comex division of the New York Mercantile Exchange, heading for a fifth consecutive climb. Prices have recovered roughly 15% from a multiyear low hit in late March, lifted by nascent optimism that demand will return...

  • Anglo American Platinum Processing Plant to Be Fully Operational on May 12

    Anglo American Platinum Ltd. (AGPPF) said Tuesday that it expects downstream operations to be fully ramped up by May 12 following the completion of the repair of the Anglo Converter Plant phase B. The South Africa-based miner, which is majority owned by Anglo American PLC, said that it will lift force majeure to suppliers when the ACP plant becomes fully operational and production of refined platinum-group metals restarts. Anglo American Platinum (AGPPF) added that repair works for ACP phase...

  • Fortescue Metals Upgrades Iron-Ore Shipment Guidance

    SYDNEY--Fortescue Metals Ltd. raised its guidance for annual iron-ore shipments following a record third-quarter performance, as demand for the steelmaking commodity remained resilient despite the economic impact of the novel coronavirus. Fortescue said it now expects to ship between 175 million tons and 177 million metric tons of iron ore in the year through June. That outlook represents an improvement on its prior shipment target of 170 million-175 million tons.

  • ICBC to Suspend Some Commodity-Trading Products

    Industrial& Commercial Bank of China Ltd. said it will temporarily halt opening new positions in commodity-trading products linked to crude oil, natural gas, copper and soybeans. The action, effective Tuesday morning, is aimed at protecting clients' interests amid the recent volatility in the commodities market, China's largest lender said Monday. A product linked to oil futures, sold by Bank of China, has led to millions of yuan in losses for investors after prices of certain...

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