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Copper futures suffered a sharp decline on Thursday, with the most-active December contract settling at $2.7370 per pound on the Comex division of the New York Mercantile Exchange, down 8.20 cents from the previous close. Analysts attributed the drop to a combination of factors, including a stronger dollar
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Zambia's largest coal mine, Maamba Collieries Ltd., has been embroiled in labor disputes with its workers for two years, leading to reduced mining operations and financial problems. The latest dispute has seen workers, who have not received salaries for four months, go on strike, with union officials demanding
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Copper futures declined on Wednesday due to concerns over demand, lower oil prices, and a stronger US dollar, leading to profit taking ahead of the Federal Reserve interest rate announcement. The December copper contract lost 5.65 cents, settling at $2.8080 a pound on the Comex division of the
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Russian aluminum output declined by 8.6% in the first eight months of the year, according to the Federal Statistics service. However, global aluminum output saw a slight increase in August, with total production rising by 0.3% to 1.954 million tons. Meanwhile, major mining companies such as Rio
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London's oil markets remained subdued on Thursday, September 17, 2009, as the price of crude oil held above $72 a barrel. Concerns over mounting US product inventories and weak demand continued to weigh on prices, despite stronger equity markets and a weaker dollar against the euro. Market analysts
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Uncertainty about demand, broken chart support levels, and a spreading U.S. trade rift with China contributed to the sharp decline in Chicago Mercantile Exchange lean hog and pork belly futures on Monday. The uncertainty sparked concerns about a possible further slowing of pork export sales and seasonally larger hog
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Kraft Foods' bid for Cadbury PLC is part of a larger trend among big consumer-product manufacturers to reinvent themselves and drive growth in a slow-growth sector. Companies like Kraft, Procter & Gamble, and PepsiCo are pushing into new markets, making deals, and exploring online sales to boost their revenue.
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Market regulators in the US are implementing stricter enforcement of position limits in commodities futures markets, a move that could inadvertently lead to higher commodity prices. According to a report from Deutsche Bank, this could result in increased demand for physical commodities. Simultaneously, China's state-owned enterprises are being
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September 1, 2009 marked a crucial day in the commodities market as gold futures experienced a significant rebound in response to stronger economic data and investor concerns about rising prices. The December gold contract rose $3 to settle at $956.50 an ounce on the Comex division of the New
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Gold futures tumbled Monday as investor sentiment shifted due to weaker equities and a decline in crude oil prices, but recovered some losses as the US dollar weakened. The metal's price settled at $953.50 an ounce, down $5.30 from the previous day's close. Market
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Copper prices remained unchanged on August 26, 2009, despite the release of stronger-than-expected durable goods and new-home sales data. The data showed a 4.9% increase in orders for durable goods, the largest gain since July 2007, and a 9.6% increase in sales of single-family homes, the highest number
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China's lead capacity shutdowns in Henan province have been denied by officials, as concerns over lead poisoning in children continue to rise. Meanwhile, Aluminum Corp. of China (Chinalco) has signaled its willingness to cooperate with Anglo-Australian miner Rio Tinto Plc in bauxite and alumina production. The global metals
