HG=F - Copper Futures,Mar-2019

COMEX - COMEX Delayed Price. Currency in USD
2.7010
+0.0210 (+0.78%)
As of 8:22PM EST. Market open.
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Pre. SettlementN/A
Settlement Date2019-03-27
Open2.715
Bid2.710
Last Price2.680
Day's Range2.700 - 2.716
Volume2,289
Ask2.716
  • Reuters32 minutes ago

    COLUMN-The aluminium puzzle: record deficit but bombed-out price: Andy Home

    With the London Metal Exchange (LME) aluminium price languishing near two-year lows at a current $1,870 per tonne, Alcoa estimates some 30 to 40 percent of the world's smelters are losing money. Alcoa's own aluminium smelting operations recorded a net operating loss of $53 million in the fourth quarter of 2018. The current pricing reality jars with Alcoa's assessment that the global aluminium market will record a second year of supply shortfall to the tune of 1.7-2.1 million tonnes in 2019.

  • CNBC3 days ago

    METALS-Copper, zinc hit 2019 highs on trade talk optimism

    BEIJING, Jan 18- Base metals prices rose on Friday, with London copper and zinc both hitting their highest level so far this year, on optimism that the United States and top metals consumer China are closer ...

  • CNBC3 days ago

    METALS-London copper gains for 4th day, touches 2019 high

    BEIJING, Jan 18- London copper prices rose for a fourth straight session on Friday, hitting their highest level so far this year, on optimism that the United States and top metals consumer China are closer to resolving their long-running trade dispute. Analysts estimate as much as 1 million tonnes of copper smelting capacity will come on stream in China this year.

  • Reuters3 days ago

    Chile's Cochilco keeps 2019 copper forecast at $3.05/lb amid trade war, Brexit

    Chile's Cochilco state copper commission on Thursday maintained its average price prediction of $3.05 per pound for 2019, rising to $3.08 for 2020, amid the continuing U.S.-China trade war and further potential volatility because of Brexit. Cochilco said it saw production at 5.941 million tonnes for 2019, up 1.6 percent from 5.845 million in 2018, and a 227,000 tonne deficit in the global market for 2019, dropping to 185,000 in 2020. Chile is the world's top producer of the red metal.

  • Reuters5 days ago

    Vedanta tells top English court pollution case should be heard in Zambia

    Lawyers for Vedanta Resources told England's Supreme Court on Tuesday that a case raised against the mining company by nearly 2,000 Zambian villagers should be heard in Zambia not London. India-listed Vedanta (VDAN.NS), which delisted from London last year but maintains a legal base in Britain, is appealing a lower court ruling that a case in which villagers alleged their land was polluted by a Vedanta unit could be heard in England. The two-day hearing will be watched by other multinational companies with a base in London and facing legal challenges about their operations abroad from local residents.

  • InvestorPlace6 days ago

    Personality Clashes Could Be a Real Hurdle for GOLD Stock

    It's official. Barrick Gold Corporation (NYSE:GOLD) and Randgold Resources have merged, creating one massive gold-mining outfit. Shares of newly-issued GOLD stock began trading at the beginning of the year. The deal was overwhelmingly approved by Barrick shareholders, with more than 99% of them voting in favor of the pairing. Randgold's investors weren't quite as keen, though with 95.2% of investors on board with the merger plan, there was still more than enough support to combine the two outfits. In both cases, owners were desperate to try anything that might provide a much-needed lift to their stakes; neither company has thrived in the shadow of tepid gold prices. InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 A-Rated Stocks the Smart Money Is Piling Into But, here comes the hard part… two strong-willed chiefs working together. The sale of unwanted assets, which should be a simple project, will be the first test of the combined company's management structure. Especially given the more recent announcement that Newmont Mining will buy Goldcorp to become the largest gold producer. ### Gold Stock and the Merger There's no denying Barrick Gold is a powerhouse within the industry. The two companies jointly owned and operated five of the world's top ten mines, in terms of potential output at a lower-than-average cost. As one, the new Barrick will be able to produce six million ounces of gold per year. The merger gives Barrick an effective toehold in Africa too, where it has struggled of late, but where Randgold has thrived. Of course, Randgold should have thrived in Africa. It was built from the ground up there, led by South African-born Mark Bristow since 1995. He knows his way around the continent's gold-mining industry, but perhaps more than that, he's well-versed in the art of navigating Africa's increasingly tricky political environment. The latest case(s) in point: Wrangling with Mali over taxes linked to the company's Loulo-Gounkoto mine, and recent changes in the DRC's mining codes that could cost Randgold another $20 million in annual expenses. Some have suggested not all of Randgold's mines will remain with the new company though. Namely, BMO has speculated that the aforementioned Tongon could be on the chopping block, along with its Massawa and Morila properties. Meanwhile, Barrick (the piece of the company that wasn't Randgold before the merger) may be looking to offload its Lumwana copper mine in Zambia as well as Chile's Zaldivar mine. There's even speculation that Barrick is interested in pairing up its Nevada operations with Newmont Mining (NYSE:NEM). The recent announcement might change that, though. The ultimate end goal? BMO's analyst believes asset sales will be "aimed at positioning the company as the lowest cost western-based gold producer, but not necessarily the largest." ### Management and GOLD Stock That's assuming Barrick's two most powerful employees can agree on which properties to keep, and which to shed. They might not. Bristow brings with him not just decades of experience within the gold mining industry (and Africa's gold mining landscape in particular), but a reputation of being something of a "one man show." He's been known to personally fly to investors to mines on his private plane, and he's got something of a penchant for big-game hunting. He'll also be sharing some of the leadership responsibilities with Barrick's executive chairman John Thornton, putting him in an unfamiliar position. Thornton's title isn't a merely honorary one. Prior to the merger, Thornton eliminated his other job as CEO altogether, limiting the top leadership position to President, thus ceding even more control of the company to himself. Adding to the awkwardness is that prior to the pairing, Bristow was a fairly regular critic of Barrick. Underscoring that awkwardness is the wealth of experience Bristow has compared to Thornton. Prior to being named executive chairman, Thornton had only been CEO of Barrick since early 2017, and the former banker had never been in an underground mine until 2016. That's in contrast with Bristow, who as founder of Randgold in 1995 has walked underground mines countless times. The latter easily could feel compelled to take charge. The fact that neither executive intends to live or work in Toronto, where Barrick is based, doesn't suggest a personal friendship will be forged either. ### Looking Ahead for GOLD Stock Still, it might be a deal that pays off exactly as prescribed. Indeed, it will probably pay off as prescribed. Though observers have cast doubts on how well the two chiefs will mesh, most worst-case scenarios are rarely realized in full. Not only are Thornton and Bristow adults, Barrick and Randgold were two of the most respected, reliable names in industry. The fact that the combined companies will not only have plenty of prime properties but also will be able to shed their unwanted ones only bolsters the bullish case. Again, it might take some time to account for Newmont's purchase of Goldcorp, announced today. Limiting itself to higher-quality mines means, according to Barrick, a cash cost of only $538 per-ounce of gold mined. Wood Mackenzie anticipates that cash cost being a bit higher, at $611. Even at the higher figure though, Barrick still boasts one of the lowest per-ounce cash costs in the business. The biggest threat to the value of GOLD stock for the foreseeable future? The sheer process of combing two highly disparate companies while divesting properties that won't necessarily be easy to sell. As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can follow him on Twitter, at @jbrumley. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Key Emerging-Market Stocks to Buy for Contrarian Investors * 7 Stocks at Risk of the Global Smartphone Slowdown * 7 Pharmaceutical Stocks That Just Raised Prices This Year Compare Brokers The post Personality Clashes Could Be a Real Hurdle for GOLD Stock appeared first on InvestorPlace.

  • MoneyShow7 days ago

    Top Picks 2019- Newmont Mining Corporation NEM

    We have favored gold stocks since 9/11, when we declared the start of a "Super" bull market for bullion and associated mining shares, explains market timing strategist Alan Newman, editor of Crosscurrents.

  • Reuters8 days ago

    Analysis: Congo poll leaves uncertainty for miners at heart of EV revolution

    The surprise outcome of Congo's election - a vote meant to bring closure to years of turmoil under President Joseph Kabila - has done little to ease uncertainty for miners and investors in a country crucial to the electric vehicle revolution. Democratic Republic of Congo is the world's leading miner of cobalt, a mineral used in electric car batteries which has seen a surge in demand in recent years, with mines run by firms including Glencore and China Molybdenum. Opposition candidate Felix Tshisekedi, an unknown quantity for mining executives, was declared the winner of last month's chaotic vote on Thursday, defeating Kabila's chosen successor, Emmanuel Ramazani Shadary.

  • Bloomberg11 days ago

    Too Early to Bet on Mining-Policy Change: Congo Vote Reaction

    The African country is the world’s main supplier of battery ingredient cobalt and a key source of minerals from copper to tantalum. The prospective change of administration may spur optimism among mining investors including Glencore Plc and Barrick Gold Corp. that they can reverse elements of a fiercely disputed new industry code that raised royalties and added taxes. Verisk Maplecroft: Unknown Entity for MinersThe results are preliminary so “many mining investors will likely hold off for the next two to three months at minimum to see how the transition period plays out,” said lead Congo analyst Indigo Ellis.

  • Reuters11 days ago

    Anglo American betting on South America to grow base metal assets

    Miner Anglo American Plc (AAL.L) is betting on South America as its main growth area for base metals in the coming years, a top executive told Reuters. Ruben Fernandes, who heads Anglo's operations in Brazil and is slated to become its global head of base metals next March, said he wants to prepare the company for an expected boom in demand related to electric cars that is likely to fuel appetite for nickel as well as copper. Quellaveco is expected to produce for 30 years and along with other potential expansion would put Anglo American on its way to producing more than 1 million tonnes of copper a year in the medium term, according to the company.

  • Reuters11 days ago

    Anglo American betting on South America to grow base metal assets

    Miner Anglo American Plc is betting on South America as its main growth area for base metals in the coming years, a top executive told Reuters. Ruben Fernandes, who heads Anglo's operations in Brazil and is slated to become its global head of base metals next March, said he wants to prepare the company for an expected boom in demand related to electric cars that is likely to fuel appetite for nickel as well as copper. Quellaveco is expected to produce for 30 years and along with other potential expansion would put Anglo American on its way to producing more than 1 million tonnes of copper a year in the medium term, according to the company.

  • Reuters11 days ago

    Chile's copper mines post mixed results through Nov 2018 - Cochilco

    Chile's largest copper mines posted mixed results through November of 2018, with a slight drop in output at state miner Codelco offset by a surge in production from BHP's Escondida, the world's largest copper mine. In all, copper production in the world's top producer of the red metal reached 5.33 million tonnes, a 6 percent increase over the same period the previous year. Escondida, in northern Chile, produced 1.15 million tonnes through November, up 40.7 percent compared with the same period in 2017, when an historic strike shut down the mine for more than 40 days.

  • Aluminum Is the Market to Watch Closely in 2019
    Bloomberg12 days ago

    Aluminum Is the Market to Watch Closely in 2019

    Despite the many market-soothing words uttered by Federal Reserve Chairman Jerome Powell and former chairs Janet Yellen and Ben S. Bernanke at the American Economic Association’s annual meeting in Atlanta on Friday, economic and market risks have not vanished. In fact, the risks for 2019 and 2020 look a lot like those in 2015 and 2016, when a Chinese manufacturing recession, depressed euro-zone manufacturing activity, and a U.S. business investment recession held back markets and growth. One of the most overlooked economic dynamics of the last five years is the Chinese manufacturing recession that lasted from December 2014 until June 2016.

  • CNBC12 days ago

    Chile copper mines to triple use of sea water in 10 years -report

    Chile's copper industry will triple its use of sea water for industrial processes in the next decade, state copper agency Cochilco said on Tuesday, as global miners in the world's top producer of the red metal seek alternatives amid growing water shortages. Cochilco said in a report that it expected use of sea water, both desalinated and direct from the ocean, to increase by 230 percent over 2018 levels.

  • Reuters13 days ago

    Chile okays lithium miner SQM's plan to remedy water violations

    Chile's environmental regulator on Monday approved a $25 million compliance plan by SQM , ending a multi-year investigation by authorities that found the Chilean miner had overdrawn lithium-rich brine from the Atacama salt flat. The plan requires the world's number two producer of lithium to reduce its extraction of brine. The case has, however, fanned tensions in the arid region of northern Chile, as soaring demand for lithium has forced producers like SQM to compete for scarce water with sprawling copper mines, a booming tourism industry and indigenous communities.

  • CNBC13 days ago

    UPDATE 2-Chile okays lithium miner SQM's plan to remedy water violations

    Chile's environmental regulator on Monday approved a $25 million compliance plan by SQM , ending a multi-year investigation by authorities that found the Chilean miner had overdrawn lithium-rich brine from the Atacama salt flat. The plan requires the world's number two producer of lithium to reduce its extraction of brine. The case has, however, fanned tensions in the arid region of northern Chile, as soaring demand for lithium has forced producers like SQM to compete for scarce water with sprawling copper mines, a booming tourism industry and indigenous communities.

  • Gold recoups some of its recent losses, after biggest daily drop in 2 weeks
    MarketWatch13 days ago

    Gold recoups some of its recent losses, after biggest daily drop in 2 weeks

    Gold futures finish higher on Monday, staging a partial rebound from the precious metal’s worst single-session drop in two weeks, with prices getting a boost as downbeat U.S. ISM nonmanufacturing data helped pressure the dollar.

  • CNBC13 days ago

    UPDATE 1-Chile okays lithium miner SQM's plan to remedy water violations

    Chile's environmental regulator on Monday approved a $25 million compliance plan by top lithium producer SQM SA, ending a multi-year investigation by Chilean authorities that found the miner had overdrawn lithium-rich brine from the Atacama salt flat. The 18-month remediation plan includes a new online system to monitor SQM's extraction rates of both brine and fresh water from beneath the salt flat, which lies amid the world's driest desert.

  • Reuters13 days ago

    Chile okays lithium producer SQM's plan to remedy water violations

    Chile's environmental regulator on Monday approved a $25 million compliance plan by top lithium producer SQM, ending a multi-year investigation by Chilean authorities that found SQM had overdrawn lithium-rich brine from the Atacama salt flat, straining water supplies in the world's driest desert. The 18-month remediation plan includes a new online system to monitor the Chilean miner's extraction rates of both brine and fresh water from the salt flat. Atacama, home to top lithium producers SQM and Albemarle, supplies more than one-third of the world's supply of the ultralight battery metal, but increasing water use by lithium and copper miners has raised concerns about sustainability in the delicate salt flat.

  • CNBC13 days ago

    Chile okays lithium producer SQM's plan to remedy water violations

    SANTIAGO, Jan 7- Chile's environmental regulator on Monday approved a $25 million compliance plan by top lithium producer SQM, ending a multi-year investigation by Chilean authorities that found SQM had overdrawn lithium-rich brine from the Atacama salt flat, straining water supplies in the world's driest desert. The 18- month remediation plan includes a...

  • CNBC13 days ago

    Chile okays lithium producer SQM's plan to remedy water violations

    Chile's environmental regulator on Monday approved a $25 million compliance plan by top lithium producer SQM, ending a multi-year investigation by Chilean authorities that found SQM had overdrawn lithium-rich brine from the Atacama salt flat, straining water supplies in the world's driest desert. The 18-month remediation plan includes a new online system to monitor the Chilean miner's extraction rates of both brine and fresh water from the salt flat. Atacama, home to top lithium producers SQM and Albemarle, supplies more than one-third of the world's supply of the ultralight battery metal, but increasing water use by lithium and copper miners has raised concerns about sustainability in the delicate salt flat.

  • Associated Press14 days ago

    Afghan officials: Flash flood kills at least 30 villagers

    KABUL, Afghanistan (AP) — At least 30 Afghan villagers searching for gold in a riverbed perished on Sunday in a flash flood in northeastern Badakhshan province, provincial officials said.

  • Reuters18 days ago

    Zambia says mines have failed to show impact of higher taxes

    Mining companies operating in Zambia have failed to show how higher taxes introduced this year will affect their profitability despite objecting to the new framework, a senior government official said on Thursday. The country, Africa's second-largest copper producer, increased its sliding scale for royalties of 4 to 6 percent by 1.5 percentage points from Jan. 1 and introduced a new 10 percent tax when the price of copper exceeds $7,500 per tonne. Zambia also plans to replace value-added tax with a sales tax by April to help bring down mounting public debt.

  • Gold Opens 2019 With Fanfare Amid Growth Concerns as Copper Sags
    Bloomberg18 days ago

    Gold Opens 2019 With Fanfare Amid Growth Concerns as Copper Sags

    Bullion hit a six-month high, nearing $1,300 an ounce, after a report showing a contraction in China manufacturing renewed wild gyrations across equity markets, with Europe and Asia’s slumping, boosting demand for haven assets. The dimming demand picture in China, the world’s largest base-metals user, pushed copper to its biggest loss in two weeks while an index of 70 mining companies slid. Gold is rising on “more safe-haven buying interest amid a still very wobbly U.S. stock market,” Jim Wyckoff, senior analyst at Kitco Metals, said in a note to clients.

  • Reuters20 days ago

    Chile monthly copper output highest in 13 years

    Chile's copper production touched 540,720 tonnes in November, its highest level in 13 years, as ore grades and efficient processing favored increased output in the world's top producer of the red metal, ...