CAPITAL MARKETS

Base metals up, copper smelting activity flat

Base metals gained on the London Metal Exchange on Friday with copper at its highest point since mid-2018.

Staff reporter
 Europe’s strength offset China’s weakness in the latest SAVANT global copper smelting activity reading

Europe’s strength offset China’s weakness in the latest SAVANT global copper smelting activity reading

Meanwhile global copper smelting activity was largely unchanged in October, according to the SAVANT platform's latest data.

Earth-i and Marex Spectron said October's global activity dispersion index averaged 50.3, a minor increase on the 50.2 recorded in the prior month.

However Marex Spectron's global head of analytics Dr Guy Wolf said the regional variations in smelting activity were significant.

China's index was down from 50.2 the previous month to 42.2, while Europe saw "a huge jump" from 51.7 to 66.5, which was the highest monthly reading in the database for the region, according to the platform.

Gold was trading about US$1,870 per ounce on the spot market at the time of writing.

Finally, MetalCorp (TSXV: MTC) enjoyed a meteoric rise in Toronto on Friday.

The company closed up 220% to C8c after announcing it had struck a deal with neighbour and gold major Barrick Gold, which can earn up to 80% of its Hemlo East gold property in Ontario.

Barrick gained 0.6%.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.