KUALA LUMPUR/MELBOURNE Australian rare earths miner Lynas Corporation said on Wednesday that it would consider legal options after Malaysia added new conditions to license renewals for its $800 million plant in the country, sending Lynas shares sharply lower.
PORT HEDLAND, Australia Australian miner Fortescue Metals this week said the latest developments in satellite imagery are helping it scour vast swathes of its own backyard for new deposits, seeking an edge as it jostles with global peers for the next big strike.
* Expands exploration holdings in S. Australia 30 pct this
(Recasts throughout, updates closing prices)
By Mai Nguyen and Melanie Burton
HANOI/MELBOURNE, Nov 26 Steel-linked metals
nickel and zinc fell on Monday on expectations of weaker demand
from Chinese steel mills.
All other base metals declined amid caution ahead of trade
talks between U.S. President Donald Trump and Chinese President
Xi Jinping later this week.
"The market started to be really concerned about the
uncertainty of what the outcome will be from the U.S.-China
trade talk," said analyst Helen Lau of Argonaut Securities.
ZINC: Shanghai Futures Exchange zinc settled down
2.5 percent at 20,540 yuan ($2,958.63) a tonne, posting its
biggest single-day drop since August, while London zinc
fell 0.6 percent to $2,504 a tonne by 0709 GMT.
NICKEL: London nickel traded 0.6 percent weaker but
Shanghai nickel bucked the trend among base metals to
settle up 0.2 percent. Nickel stockpile in LME warehouses is
around a five-year low, at 214,188 tonnes .
STEEL: Chinese iron ore futures tumbled and steel prices
dropped as worries over weaker steel demand sustained a
sell-off, with raw materials coking coal and coal also down
TIN: Shfe tin settled 1.4 percent lower and LME tin
slipped 0.1 percent amid rising stocks and expected
weaker demand in China next year.
DEMAND: Weaker Chinese demand is expected to move the global
tin market into a surplus of 500 tonnes next year from a
7,500-tonne deficit in 2018, the International Tin Association
said on Friday, while China's tin warehouse supplies hit 8,200
tonnes, the highest in more than a year and up by 73 percent
from late August .
CHINA GROWTH: China's economic growth is expected to hit 6.6
percent this year and slow to 6.3 percent in 2019 as the country
struggles with challenges relating to trade and structural
reform, economists from Beijing's Renmin University said.
CHINA-U.S.: A G20 summit scheduled later this week in
Argentina is expected to set a trade war turning point, when
leaders from the two biggest economies meet to address trade
tensions that have been increasingly hurting global growth.
U.S. DOLLAR: The dollar held broad gains on Monday as
investors sought shelter in the world's most liquid currency on
fears of a slowdown in global economic growth and as U.S.-Sino
trade tensions sapped risk appetite. A stronger dollar makes it
more expensive to import greenback-commodities into countries
using other currencies.
Three month LME copper
Most active ShFE copper
Three month LME aluminium
Most active ShFE aluminium
Three month LME zinc
Most active ShFE zinc
Three month LME lead
Most active ShFE lead
Three month LME nickel
Most active ShFE nickel
Three month LME tin
Most active ShFE tin
($1 = 6.9424 Chinese yuan)
(Reporting by Mai Nguyen in Singapore and Melanie Burton in
Melbourne; Editing by Subhranshu Sahu)
MELBOURNE A hive of mine exploration activity is underway in a remote corner of Western Australia's Great Sandy Desert, led by Rio Tinto Ltd, which has boosted its holdings 10-fold in the little explored Paterson province in the past year.
MELBOURNE, Nov 26 A hive of mine exploration
activity is underway in a remote corner of Western Australia's
Great Sandy Desert, led by Rio Tinto Ltd , which
has boosted its holdings 10-fold in the little explored Paterson
province in the past year.
SINGAPORE/MELBOURNE An expected surge in refined zinc output after a clutch of new mine openings has been derailed by bottlenecks at smelters across Asia, putting the brakes on an eye-watering price fall.
* Treatment charges surge to $145/T from $20 in
MELBOURNE Albemarle Corp, the world's top lithium producer, has agreed to pay $1.15 billion to form a lithium joint venture with Australia's Mineral Resources, a week after regulators rejected plans to expand its operations in Chile.
MELBOURNE, Nov 22 Albemarle Corp, the
world's top lithium producer, has agreed to pay $1.15 billion to
form a lithium joint venture with Australia's Mineral Resources
, a week after regulators rejected plans to expand its
operations in Chile.