Nickel – FNX Mining Company, a Diversified Canadian Nickel Company has reported that nickel sales dropped 400,000 pounds as copper sales has dropped to 50%. However, precious metals sales went up to 13,258 ounces during the Q1 of 2010. Terry MacGibbon, FNX CEO is quoted saying: “The first quarter results were impacted by a temporary shortfall at the Podolsky [...]
Nickel – There are still doubts over Europe’s $1 trillion emergency rescue plan. This year, Nickel (Ni) CMNI3 and lead CMPB3 fell more than 5 percent, while zinc (Zn) CMZN3 and aluminum (Al) CMAL3 fell about 4 percent and copper (Cu) fell nearly 3 percent. Christin Tuxen, analyst at Danske Bank is quoted saying: “There are some concerns that [...]
Gold Investing News reports gold price rallied to a 3 week high of $961. Spot gold was at $954.50 an ounce, up 0.5 per cent from New York’s notional close of $949.65, but off a three-week high of $961.00 marked on August 28. In August, gold was mostly caught in a narrow range, falling 0.4 per [...]
Crude Investing News reports crude price fell about 40 cents this week. Weak crude demand and rising inventories have kept prices from rising higher. Storage facilities for crude oil in the U.S. have been swelling since the end of February, bloating to a nearly 19-year high last week. The signs were clear though. U.S. fuel [...]
Iron Investing News reports iron market moving towards a gloomy start. “We need to recognise the fundamentals of the market. The market would show that it does need a downward adjustment this year,” said Sam Walsh, head of Rio’s iron ore division. But given the potential for a recovery in industrial demand at some stage [...]
Gold Investing News reports gold prices fell slightly while the dollar strengthened. According to analysts, optimistic investors read many recent commodity price gains and positive economic readings as an end to the downturn and are starting to unload safe-haven gold. What added to the melee was a firmer dollar, that also weighed on gold prices. [...]
Tin Investing News reports since commodity prices continue to drop, China is stockpiling metals. Chenzhou authorities were planning to buy 2,000 tons of silver, 50,000 tons of lead, 5,000 tons of tin, 50,000 tons of zinc, 5,000 tons of tungsten and 3,000 tons of bismuth this year. Chenzhou is known to be rich in nonferrous [...]
Aluminum Investing News reports aluminum price has fallen more than 50% since July last year. To kick off 2009, the aluminum market received some positive news as the metal climbed to a three-week high in Shanghai trading. The announcement of a plan by the Chinese government to buy 290,000 metric tons of the metal to [...]
Crude Investing News reports instability in the financial markets causing crude prices to fall and the American Elections underway. Along with OPEC production cuts and healthy company numbers, (both discussed below) the market is clearly disjointed. The tenor of discussions in the business pages and networks lately suggests that Yeats was right, and the centre cannot [...]
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