Analysis: Commodities

WTI : Crude oil futures rise, but support seen weak

U.S. crude oil futures climbed nearly 3% on Tuesday in light trading as the Trump administration launched an effort to work with Saudi Arabia to stabilise oil prices.

Rupture of copper demand to fuel surplus as industry hit by virus

A slide in copper demand as much of the world's manufacturing sector is disrupted by the coronavirus outbreak is expected to fuel a surplus this year of up to a million tonnes in what was expected to...

Glencore copper mine in Congo repatriates 26 workers over coronavirus

Glencore's Kamoto Copper Company mine, a copper and cobalt project in Democratic Republic of Congo, repatriated 26 foreign workers on Monday in response to the country's coronavirus outbreak, a union...

China steel, copper inventories dip as demand recovers from virus

Steel and copper inventories in China fell this week for the first time in months, exchange and consultancy data showed, as downstream metal consumers severely hit by the coronavirus come closer to...

Not 2008 perhaps, though worse for a time with silver linings - Mike Dolan

For better and for worse, this is not quite 2008.

Copper : Echoing recession fears, gold's value rockets versus silver, copper

Gold's relative value to copper has surged to its highest in more than a decade and its worth versus silver is the highest on record as the spread of coronavirus hammers metals with industrial...

Anglo American Platinum nudges output guidance lower

Anglo American Platinum's full-year production of platinum group metals will be at the lower end of its previous outlook, it said on Thursday, sending its shares down 10%.

How U.S. aluminium recyclers reap dividends from tariffs

North American aluminium recyclers and producers are using import tariffs to boost revenue at the expense of local beer and beverage firms, even though most of the metal used in their cans is not...

Gold : Sudan's Algunade passes Jabal Amer gold concession to government - ministry

Sudanese gold firm Algunade has given up its rights over the Jabal Amer concession, which will now pass to the government, the energy and mining ministry said in a statement on Wednesday.

Canada's Kinross gold mine in Russia on lockdown after coronavirus suspected

Canada's Kinross Gold Corp has isolated its Kupol mine in Russia's Far East after two workers were hospitalized with suspected coronavirus infections in the biggest mining lockdown since the outbreak...

MILK CLASS III DA CMR FLOOR /C1 : Panic buying forces British supermarkets to ration food

Britain's biggest supermarkets, Tesco, Sainsbury's and Asda, limited purchases of all food products on Wednesday after frantic shoppers stripped shelves to prepare for possible isolation during the...

Sumitomo Metal Mining : Teck Resources halts Chile copper expansion due to coronavirus, shares fall

Shares in Teck Resources plunged as much as 21.7% on Wednesday after the Canadian miner suspended construction at a massive copper project in Chile to limit transmission of the novel coronavirus, as...

South Korea's KOCOPIA buys about 60,000 tonnes corn

South Korea's Korea Corn Processing Industry Association purchased about 60,000 tonnes of corn to be sourced from worldwide optional origins in a tender on Wednesday, European traders said....

Malaysia exempts palm plantations from virus closures ensuring global supply

Malaysia has directed palm plantations to continue operations even as the country shuts businesses to prevent the spread of the coronavirus, a producer group said on Wednesday, ensuring steady...

Goldman Sachs cuts second-quarter Brent crude oil forecast to $20/bbl

Goldman Sachs slashed its price forecast for second-quarter Brent crude oil by a third to $20 a barrel, predicting global demand would drop a record of 1.1 million barrels per day this year as the...

GOLD: Gold: Even safe haven assets are shunned

The gold, which only a few days ago was still flying at its 7-year high of 1700 USD, is no longer a bulwark against the collapse of the stock markets. The coronavirus and its batch of exceptional...

China January-February aluminium output rises 2.4% year-on-year despite demand hit from coronavirus

China's aluminium production rose by 2.4% year-on-year in the first two months of 2020, official data showed on Monday, as smelting capacity commissioned late last year took supply higher despite a...

Exclusive: Venezuela removed six tonnes of central bank gold at turn of year - sources

The Venezuelan government removed some six tonnes of gold from the central bank's vaults between late 2019 and early 2020 to raise more hard currency for President Nicolas Maduro's cash-strapped...

Barrick eyes $1.3 billion lift at Pueblo Viejo gold mine

Barrick Gold Corp will look to spend $1.3 billion to extend the life of its Pueblo Viejo mine in the Dominican Republic beyond 2040, Chief Executive Officer Mark Bristow said on Wednesday, as the...