The threat of U.S. trade measures against China has weighed on industrial raw materials since the November election, with prices pressured earlier this week when Trump said he could impose a 10% levy on Chinese goods.
Source – Seeking Alpha
The Canadian mining company on Wednesday set a 2025 production target of between 520,000 and 580,000 metric tons of copper at its Kamoa-Kakula operation.
Ivanhoe expects to produce between 180,000 and 240,000 tons of zinc at its Kipushi zinc-copper-germanium-silver mine.
Ivanhoe said that during the last day of the year, a record 750 tons of zinc were produced over a 24-hour period, exceeding the operation’s nameplate capacity.
Source – Market Watch
“There is incredible demand for physical gold in New York markets,” said Peter Spina, president and founder of gold news and information provider GoldSeek.com., referring to it as a “physical gold rush.”
“Those who are caught short physical metal are looking around and seeing a window closing here,” he said. They’re “desperately seeking physical metal before the price could jump overnight.”
“Meeting a surge in demand will always stretch capacity, but London vaults have been working overtime to service this London-New York flow,”
Source – Market Watch
Miner Freeport-McMoRan (FCX.N), beat Wall Street estimates for second-quarter profit on Wednesday, as higher copper and gold prices helped offset lower production.
The company’s shares rose 1.6% to $40.54 in pre-market trade.
Freeport could be a big beneficiary, seeing as much as $1.6-billion boost to annual profit, given its position as the largest U.S. producer with more expansion options than rivals.
Freeport, which supplies about 70% of U.S. refined copper, said it expects to sell 1.3 billion pounds from its domestic mines in 2025.
Source – Reuters
Proposed designs for the obverses of the Proof 2027 and 2028 American Eagle platinum $100 coins — for the second and third years in the three-coin Charters of Freedom series — were recommended Feb. 18 by the Citizens Coinage Advisory Committee.
Source – Coin World
New Delhi, Jul 14 (PTI) Silver prices skyrocketed Rs 5,000 to hit a fresh peak of Rs 1,15,000 per kg in the national capital on Monday as investors rushed to safe-haven assets following weakness in the US Dollar amid uncertainties over US tariff threats.
“Silver prices are surging, reaching a new record high in the domestic market and hitting the highest level in almost 14 years in the international market. This rally is driven by a change in investor interest toward alternatives to gold,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.
Source – Press Trust of India
