London Metal Exchange

Nickel, zinc surge as industry heavyweights meet

LONDON - AFP

Nickel and zinc struck major peaks this week on expectations of keen demand for both industrial metals, analysts said. The pair were also catapulted higher as industry bigwigs descended on the British capital for London Metal Exchange (LME) Week, an annual sector event that finished on Friday. "It is base metals primarily in the spotlight this week as theRead more

Philippines 'unfit for mining' because of unique ecosystem

Manila - Arab Today

Philippine Environment and Natural Resources Secretary Regina Lopez will not reconsider her decision to shut down 23 of the country's 41 mines, saying the Southeast Asian nation is "unfit for mining." Lopez last week ordered the mines permanently shut and suspended five others, shocking mineral producers that have vowed to overturn a ruling that they say will affect 1.2 millionRead more

Copper export surge: A sign of China’s weakness or London’s strength?

London - Arab Today

China exported 85,000 tons of refined copper in May. It was the second highest monthly outflow on record, eclipsed only by the 102,000 tons that left the country in May 2012. The copper market, which is more accustomed to tracking what goes into China, the world’s largest single consumer of the stuff, is now fretting that more, maybe much more,Read more

Aluminum touches month high

London - Arab Today

Aluminum climbed to the highest levels in a month on Wednesday, bolstered by buying from industrial consumers, while copper got a boost from a weaker dollar and strong Chinese imports. Three-month aluminum on the London Metal Exchange rose 2.8 percent to $1,607 a ton in official trading, the strongest since May 6, building on a rise of 0.7 percent onRead more

LME base metals mostly increase on Tuesday

London - XINHUA

The base metals prices on the London Metal Exchange (LME) mostly closed higher on Tuesday. The three-month unofficial copper price dropped 10 U.S. dollars, or 0.22 percent, to 4,641 U.S. dollars per tonne. The three-month unofficial aluminium price lost 2 U.S. dollars, or 0.13 percent, to 1,544.5 U.S. dollars a tonne. The three-month unofficial lead price increased 2 U.S. dollars,Read more

LME base metals prices mostly increase on Monday

London - XINHUA

The base metals prices on the London Metal Exchange (LME) mostly closed higher on Monday. The three-month unofficial copper price increased 40.5 U.S. dollars, or 0.85 percent, to 4,822.5 US dollars per tonne. The three-month unofficial aluminium price increased 11 U.S. dollars, or 0.71 percent, to 1,564 U.S. dollars a tonne. The three-month unofficial lead price increased 11 U.S. dollars,Read more