Despite challenges stemming from the COVID-19 pandemic, miner Antofagasta maintained its full-year 2020 copper guidance.
Tag: Brent Crude
This Morning in Metals: Final Embargo Lifted on Norsk Hydro’s Alunorte Refinery
This morning in metals news, a Brazilian federal court lifted the final remaining embargo on Norsk Hydro’s DRS2 bauxite residue deposit area, Brazilian miner Vale announced plans to invest in a number of Brazilian communities and Brent crude oil prices fell this week. Keep up to date on everything going on in the world of […]
This Morning in Metals: Iron Ore Prices Continue to Slide
This morning in metals news, iron ore prices this week have plunged, the Energy Information Administration (EIA) released its short-term energy outlook and China could weaken its currency further. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Iron Ore Prices Plunge After reaching five-year highs earlier this year, aided by […]
Oil Supply Tensions Rise as Accusations Fly Over Gulf of Oman Tanker Attacks
On Thursday, two tankers carrying petrochemicals, one of which was a Japanese-owned ship, came under suspected attack in the Gulf of Oman. The incidents compounded the already simmering hostilities in what’s possibly the world’s most pivotal maritime corridor and spurred a significant 4% spike in the oil price, the Washington Post reported. Need buying strategies […]
This Morning in Metals: China’s Steel Production Shows No Signs of Slowing
This morning in metals news, China’s steel sector continues to churn out more and more steel, copper prices soared to a nine-month high, and the oil price surged on falling U.S. stockpiles. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook China Steel Production Despite a program of winter production curbs, […]
Oil Has Hit $60 Per Barrel — How Much More Can it Drop?
Brent crude has hit a new low for 2018, with the international benchmark down 3% last week to its lowest level in 13 months. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook West Texas Intermediate, the main U.S. contract, fell 4.5% to $52.09. Investors have taken fright in a relatively […]
Oil Price Slide Potentially Bearish for Aluminum, Other Energy-Intensive Metals
We should state from the outset that it’s not that energy costs are directly dependent on the oil price — very little electricity generation around the world, Saudi Arabia being an exception, is generated from crude oil. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook But with power making up […]
Is Oil Heading for $100/Barrel?
Oil prices have been quietly rising for the last six weeks. The Brent crude benchmark has now breached the U.S. $80/barrel level to $81.20 this week, a level not seen since late 2014, the Financial Times reports. In the U.S., ample shale oil supply and constrained infrastructure remains a drag on the West Texas Intermediate price, […]
