|

Glencores copper shipments suspended

ByVictoria

Glencore has suspended production and declared force majeure on copper shipments from its Altonorte smelter in Chile due to an issue affecting the plant’s furnace, Bloomberg reported Wednesday, in a setback that comes just as traders and producers race to ship more metal to the U.S. ahead of tariffs.

Much of the copper produced in Chile is shipped to the U.S., where Comex prices have surged to record highs on worries about shortages due to tariffs; the most active Comex copper contract (HG1:COM) for May delivery hit $5.374/lb, or $11,847/metric ton on Wednesday.

Source – Seeking Alpha

Similar Posts

  • /

    Trump tariffs shake silver market

    ByVictoria
    0 Comments

    “People are well advised to know and expect that [silver] is going to be volatile,” Krauth said. “It’s going to be more volatile than gold, and if you talk about silver stocks, that’s another—you know, it’s exponentially more volatile.”

    “Maybe it’s not a bad idea to wait a little bit to let things calm down.”

    Source – Self Employed

    Peter Krauth author of “The Great Silver Bull” and precious metals analyst.

  • /

    Ready to strike planchets could keep the penny circulating

    ByVictoria
    0 Comments

    The inventory of unstruck ready-to-strike cent planchets combined at the Denver and Philadelphia Mints is considered by the Federal Reserve and the U.S. Mint enough to handle production needs for the near future as the mintages wind down, with no more planchets ordered from the lone outside vendor.

    The unstruck planchets are also sufficient for striking Uncirculated Lincolns cents at the Philadelphia and Denver Mints for inclusion in 2025 Uncirculated Mint sets and for Proof sets executed at the San Francisco Mint.

    Source – Coin World

  • /

    Silver eagles to honor U.S. Army

    ByVictoria
    0 Comments

    A limited-edition, privy-marked Proof 2025-W American Eagle silver dollar prepared for release June 13 from the United States Mint celebrates the 250th anniversary of establishment of the Continental Army during the American Revolutionary War, on June 14, 1775.

    As of May 24, the Mint had not yet established pricing for the privy-marked American Eagle. The product is limited to an issue of 100,000 coins. Each household order is restricted  to three coins during the first 24 hours of sales, after which the limit will be lifted.

    The commemorative privy-mark — containing elements of the U.S. Army’s official seal — is positioned in the field behind Liberty, to the left of the Y in the inscription LIBERTY.

    Source – Coin World

  • /

    South African rand strengthens

    ByVictoria
    0 Comments

    South Africa’s rand, stocks and government bonds strengthened on Friday, boosted by higher gold prices as worries over the United States’ worsening fiscal health sent investors into the safe-haven asset.

    At 0929 GMT, the rand traded at 17.9150 against the dollar, 0.5% stronger than Thursday’s closing level.

    Gold prices rose on Friday and were poised for their biggest weekly gain in more than a month, as a softer U.S. dollar and concerns over the country’s fiscal outlook boosted bullion’s safe-haven appeal.

    Source – Reuters

  • /

    Job data shows gold impact

    ByVictoria
    0 Comments

    Gold lost its shine after upbeat US jobs data. It hits an intraday low of $3311 and is currently trading around $3323.

    The June 2025 U.S. Non-Farm Payrolls report demonstrated notable strength in the labor market, with 147,000 jobs added, substantially surpassing the consensus estimate of 110,000.

    According to the CME Fed Watch tool, the chances of a rate pause in the Jul 30th 2025, meeting have increased to 93.30% from 79.30% a week ago.

    Source – Econo Times