Gold demand was little changed in the first half of the year as a rebound in consumer demand for bars, coins and jewelry counteracted waning appetite from institutional investors, the World Gold Council said Thursday. Global demand for the precious metal stood at 1,833 metric tons in the first half of the year, 10% less than during the same period in 2020, the WGC said in its quarterly report. Demand in the second quarter stood at 955.1 tons, largely unchanged from the same period last...
SYDNEY--BHP Group Ltd. (BHP) said it has signed a supply deal with Tesla Inc. (TSLA) for nickel, a commodity used in electric- vehicle batteries, from its Nickel West operations in western Australia. The world's biggest miner by market value said it and Tesla have also agreed to collaborate on sustainability efforts in the battery industry supply chain, such as ways to trace raw materials from pit to product using blockchain. BHP Chief Commercial Officer, Vandita Pant, said demand for nickel in...
SYDNEY--BHP Group Ltd. Tuesday reported a lift in fiscal-year iron ore production, although weaker annual output of copper and petroleum. Here are some remarks from its fourth-quarter operational report:. "We achieved production records at our Western Australia Iron Ore operations and the Goonyella Riverside metallurgical coal mine in Queensland.
Rio Tinto PLC (RIO) on Friday recorded a sharp fall in second-quarter iron-ore shipments from Australia, while also notching year-on-year production declines for bauxite and copper. Here are some remarks from its operational report:. "The iron-ore price has remained resilient on a surge in demand while supply has struggled to keep pace.
China's top economic planner and market regulator have sent teams to investigate recent price and supply trends of bulk commodities, the latest move by Beijing to rein in the sector's sharp rally this year. The groups, made up of officials from the National Development and Reform Commission and the State Administration for Market Regulation, will visit various cities and provinces to find out more about spot trading in commodities and the recent upstream supply and price...
SYDNEY--Australia posted a record trade surplus in May, boosted by surging volumes and higher prices for its commodity exports. The country's trade surplus stood at 13.3 billion Australian dollars, according to preliminary estimates released by the Australian Bureau of Statistics on Wednesday. Iron ore, together with strong coal and meat exports, helped increase total exports to a record A $39.2 billion, up 11% from April.
DBS Group Holdings Ltd. (DBSDF) has begun trading commodities on the London Metals Exchange, the world's major trading platform for industrial metals. The Singaporean bank is currently one of four Category 4 members on the LME, which allows it to trade and issue client contracts but doesn't give it clearing abilities. It is also the first bank in Asia to be issued a LME membership registered outside of London, it said Monday.
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