Australia

BHP’s Kalgoorlie nickel smelter shut down after fire

MELBOURNE, Sept 24 (Reuters) – BHP Billiton said on Monday its Kalgoorlie nickel smelter has been closed after a fire that broke out over the weekend and the plant will remain shut while it assesses the damage. The fire had been put out, there were no injuries and efforts would focus on returning the plant to normal operations, the global miner said. “People have returned to work at the Kalgoorlie Smelter today and the team Read more…

Gold News

METALS MORNING VIEW 21/09: Metals see follow-through buying, weaker dollar providing support

Three-month base metals prices on the London Metal Exchange were once again higher across the board by an average of 0.5% on the morning of Friday September 21. This follows Thursday’s generally bullish performance that saw the base metals complex close with gains averaging 0.7%. Nickel and copper led on the upside this morning with gains of 1.3% and 0.9% respectively, with the red metal recently quoted at $6,173 per tonne. Volume across the complex Read more…

News

PLATINUM TODAY: Rebound showing signs of stalling

  Outlook: Short term: Medium term: Long term: Resistances: R1 795 20 DMA R2 803 40 DMA R3 846 100 DMA R4 857 Jun 22 lows R5 901 200 DMA R6 924 DTL from Aug 2011 high Support: S1 932 Mar 2017 low S2 901 200 DMA S3 873 Dec 2017 lows S4 811 Jan 2016 low S5 803 40 DMA S6 S7 795 20 DMA 745 Oct 2008 low Stochastics: Fast line stalled Legend:   Read more…

Gold News

METALS MORNING VIEW 20/09: Metals prices firmer, but light volumes so far

Three-month base metals prices on the London Metal Exchange were higher across the board by an average of 0.7% on the morning of Thursday September 20. For now, the market seems to be grateful that the latest round of tariffs from the United States stood at 10% and not the 25% initially threatened. Lead and zinc were the outperformers with gains of 1.1%, followed by copper, aluminium and nickel which were up between 0.5% and Read more…

Gold News

METALS MORNING VIEW 18/09: Metals market relieved new US tariffs were not more damaging

Three-month base metals prices on the London Metal Exchange were for the most part firmer this morning, Tuesday September 18. This despite US President Donald Trump imposing 10% tariffs on a further $200 billion of Chinese exports – the market no doubt relieved it was not 25%. The exception to the stronger showing by the LME base metals was lead, which was down by 0.7%. The rest of the complex saw of gains of between Read more…

Gold News

METALS MORNING VIEW 13/09: Short-term buying returns on easing trade tensions, weaker dollar

Following a strong close in the previous session, the three-month base metals prices on the London Metal Exchange were mostly consolidating their recent gains during early trading on Thursday September 13. Copper and lead were largely unchanged, while the rest of the complex has consolidated lower; aluminium (-0.5%) led the decline, closely followed by zinc (-0.4%), while nickel and tin were both down by 0.1%. As a result, the overall market configuration of the LME Read more…