News

Highland Gold Q4 Production 68,722 OZ Vs 68,829 OZ Year Ago

Date Jan 18 2018 16:35:34 Source:Reuters

    Jan 18 (Reuters) - HIGHLAND GOLD  HGM.L :

    * Q4 2017 PRODUCTION WAS STEADY Y-O-Y, OF 68,722 OZ OF GOLD AND GOLD EQUIVALENT VERSUS 68,829 OZ IN Q4 2016

    * SAYS PRODUCED A TOTAL OF 272,274 OZ OF GOLD AND GOLD EQUIVALENT IN 2017, UP 4.3% FROM 261,159 OZ IN 2016

    * SAYS AVERAGE REALISED GOLD PRICE WAS 1,277 USD/OZ IN Q4 2017 AND 1,260 USD/OZ FOR YEAR 

Edited by SHMET

China Dec aluminium production rebounds despite winter cuts

Date Jan 18 2018 16:34:55 Source:Reuters

    BEIJING, Jan 18 (Reuters) - China's primary aluminium production rebounded in December after five months of decline despite winter output restrictions imposed on smelters, helping lift total 2017 output to record levels.

    The world's top aluminium producer churned out 2.71 million tonnes of the metal last month, up 15.3 pct from 2.35 million tonnes in November to its highest level since June's record output, although it was down 1.8 pct on a year ago, according to

the National Bureau of Statistics (NBS).

    For the full year, China produced 32.27 million tonnes of aluminium, a rise of 1.6 percent from 2016, the data released on Thursday showed.

    Production cuts of as much as 30 percent on some Chinese aluminium smelters, which kicked in fully in mid-November, led November's output to fall by 7.8 percent from October.

    But December output rose despite the restrictions, brought in as the government battles pollution.

    China's overall non-ferrous metals output -- including copper, aluminium, lead, zinc and nickel -- came in at 4.72 million tonnes in December, up 9.3 percent from 4.32 million tonnes in November to the highest level since June and up 2.8 percent from a year earlier.

    Full-year nonferrous production stood at 53.78 million tonnes, up 3 percent from 2016, to set a new annual record high.

 

Edited by SHMET

China metals mixed; upbeat data propels LME copper

Date Jan 18 2018 16:34:20 Source:Reuters

    SYDNEY, Jan 18 (Reuters) - Shanghai base metals futures turned mixed in late Asian hours on Thursday with better-than-expected China economic data coming in just before the market close, which pushed up LME copper.   

    The fourth-quarter data underpinned a rally in London Metal Exchange copper, though failed to push the Shanghai contract into positive territory. 

    * SHFE COPPER: The most-traded copper contract on the Shanghai Futures Exchange  SCFcv1  closed down 0.24 percent at 53,670 yuan ($8,340.46) a tonne.

    * LME COPPER: Three-month copper on the LME  CMCU3  gained 0.36 percent to $7,060 a tonne, reversing losses from the previous session.

    * CHINA GROWTH: China Q4 GDP 6.8 percent year-on-year compared with a forecast of 6.7 percent. Analysts polled by Reuters expected the world's second-largest economy to have grown 6.7 percent in the October-December quarter from a year ago. 

    * FORCE MAJEURE: Turquoise Hill Resources  TRQ.TO  said Oyu Tolgoi, a copper and gold mine in the southern Gobi Desert, has declared force majeure in connection with customer contracts for concentrate due to a protest by Chinese coal transporters in the Ganqimaodu Border Zone.

    * BHP: BHP's  BHP.AX   BLT.L  copper output jumped 20 percent to 429,000 tonnes in the quarter to end-December helped by a rise in production from its Escondida copper mine in Chile.

   * SHFE ALUMINIUM: ShFE aluminium  SAFcv1  finished down 0.10 percent at 14,620 a tonne. LME aluminium  CMAL3  was showing a modest loss at $2,191 a tonne.  

    * ALCOA:  Aluminium producer Alcoa Corp  AA.N  reported a bigger quarterly loss on Wednesday, hurt by the closure and divestiture of some smelting assets.

    * COPPER BOOST: Chile's state copper commission, Cochilco, on Wednesday raised its estimated 2018 average price for the metal to $3.06 per pound from its previous forecast of $2.95 per pound, pointing to the potential for global supply disruptions in the coming year.

    * LEAD SURPLUS: The global lead market showed a surplus of 15,600 tonnes in November after a deficit of 11,100 tonnes in October, data from the Lisbon-based International Lead and Zinc Study Group (ILZSG) showed on Wednesday.

    : LEAD PRICES: Despite the shift to a surplus, ShFE lead  SPBcv1  closed 1.20 percent firmer at 19,330 yuan a tonne, while LME lead  CMPB3  was 0.3 percent stronger at $2,556.  

 

 

Edited by SHMET

Copper hits 3-1/2-week low, nickel slides more than 5 pct

Date Jan 17 2018 13:47:41 Source:Reuters

    LONDON, Jan 16 (Reuters) - Base metals slid on Tuesday with copper and nickel hitting multi-week lows as a steadier dollar weighed, profit-taking set in following strong gains late last year and worries lingered over fading demand in China before the Lunar New Year.

    Three-month copper on the London Metal Exchange  CMCU3  ended down 1.8 percent at $7,078 a tonne, having hit its weakest since Dec. 22 at $7,035.

    Stainless steel ingredient nickel  CMNI3  closed down 2.4 percent at $12,550, having slid more than 5 percent to its lowest since Dec. 29 at $12,190.

    The dollar index was up 0.15 percent at 90.59  USD= , recovering from Monday's three-year low. A stronger dollar makes dollar-priced metals costlier for non-U.S. investors.

    "(We're seeing) a bit of profit-taking on the back of a strong run (and) we had some trade data from China last week which indicated imports of refined metals have been somewhat slow," said Nitesh Shah, commodity strategist at ETF Securities.

     

    * IRON ORE: Iron ore futures in China ticked up on Tuesday after dropping 2 percent in the previous session, but record stockpiles of the steelmaking ingredient at the country's ports kept a lid on price gains.

    Broker Marex Spectron cited disappointing steel demand and more talk of a sell-off across ferrous metals as impacting nickel. It also noted broader risk-off sentiment in the wider metals markets in China, the world's top industrial metals consumer.

    "The Chinese are in wind down ahead of their new year. They have not been the drivers of the metal moves higher over the past few weeks, reflected in the declining onshore premiums," it said in a note. 

    * COPPER, ALUMINIUM SUPPLY: Rio Tinto  RIO.AX   RIO.L  stuck to a 2018 production target of 510,000-610,000 tonnes of mined copper and 225,000-265,000 tonnes of refined copper. Aluminium production is targeted at 3.5-3.7 million tonnes. For 2017, aluminium production eased 1 percent and mined copper output fell 9 percent.

    "ING estimates a (copper) concentrate deficit of 145,000 tonnes last year but a return to growth in mine supply should mean a more balanced 2018," ING said in a note.

    * COPPER, ZINC STOCKS: Headline LME copper inventories have climbed 12 percent since the start of December to 204,650 tonnes. Zinc 'on-warrant' or available inventories have slid 38 percent in two weeks to 112,850 tonnes.  0#LME-STOCKS . 

    * OTHER METALS: Zinc  CMZN3  ended down 0.5 percent at $3,404.50, having hit its highest in more than a decade on Monday. Lead  CMPB3  closed down 1.3 percent at $2,554, aluminium  CMAL3  ended down 1.7 percent at $2,189 while tin CMSN3  ended up 0.8 percent at $20,470.

 

 

 

Edited by SHMET

Kaiser Aluminum Announces 10 Percent Increase In Quarterly Dividend Payment

Date Jan 17 2018 13:45:48 Source:Reuters

    Jan 16 (Reuters) - Kaiser Aluminum Corp  KALU.O :

    * ORATION ANNOUNCES A 10 PERCENT INCREASE IN QUARTERLY DIVIDEND PAYMENT

    * SETS QUARTERLY CASH DIVIDEND OF $0.55PER SHARE

 

 

Edited by SHMET
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