Articles by Rebecca Torres
South32 Targets 90% Base Metals Output in Strategic Shift to Americas
South32 aims to derive 90% of its production from base metals like copper and zinc within the next year and a half, accelerating its strategic pivot toward North American assets. The shift comes amid a CEO transition and the planned idling of its Mozal aluminum smelter in Mozambique.
Evolution Mining Plunges 6% as Gold Miners Retreat Despite Bullion Gains
Evolution Mining shares dropped 5.98% to A$14.79, leading a sector-wide decline as gold miners faced selling pressure despite a modest rise in bullion prices.
Wesfarmers' CSBP Warns of Fertilizer Delays Amid Persian Gulf Disruption
CSBP has alerted customers to potential delays in ammonium phosphate and urea shipments due to Middle East shipping disruptions. The company confirmed March collections will proceed but cannot accelerate April contracts.
Silver Retreats as Dollar, Yields Climb Ahead of Key Jobs Data
Silver prices declined on Thursday, with the metal and related equities pressured by a stronger U.S. dollar and rising Treasury yields. Traders await Friday's U.S. employment report for direction.
Gold Retreats on Rising Yields, Dollar Strength; Markets Eye Jobs Data
Gold prices declined 1.2% to $5,076.59 per ounce as rising U.S. Treasury yields and a firmer dollar pressured the metal. The SPDR Gold Shares ETF (GLD) dropped 1.18%.
Goldman Sachs Flags $100 Oil Risk to Global Economy Amid Middle East Tensions
Goldman Sachs cautions that a brief surge in oil to $100 a barrel could reduce global economic growth by 0.4 percentage points and increase inflation by 0.7 points, with Morgan Stanley now expecting the ECB to maintain rates through 2026.
Lithium Stocks Slide Amid China Price Volatility, Policy Uncertainty
Major lithium producers Albemarle and SQM declined in New York trading as Chinese spot prices for the battery metal showed significant volatility, with traders focused on upcoming policy cues and corporate results.
ULSD Futures Surge 10% on Middle East Supply Fears, Diesel Prices Climb
U.S. heating oil futures soared 9.8% Thursday, hitting a one-year high amid Middle East supply risks. Brent crude topped $84, while average U.S. diesel prices rose to $4.04 a gallon.
Gasoline Futures Surge 6% on Middle East Supply Fears, Pump Prices Follow
NYMEX gasoline futures surged 6% Thursday as Middle East tensions threaten supply, with AAA reporting a 27-cent weekly jump at the pump to a $3.25 national average.
Oil Prices Surge Past $84 on Middle East Supply Fears
Brent crude oil prices climbed above $84 per barrel following tanker incidents in the Gulf, raising fears of prolonged supply disruptions. U.S. diesel prices and physical crude premiums also spiked as markets tightened.
Gold Retreats as Dollar Strength, Rising Yields Outweigh Geopolitical Tensions
Gold prices declined on Thursday, erasing earlier gains, as a stronger U.S. dollar and higher Treasury yields offset safe-haven demand spurred by Middle East tensions. The market's focus shifts to Friday's U.S. employment report.