Currently viewing Global edition

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.
Base metals up, copper smelting activity flat Base metals up, copper smelting activity flat Base metals up, copper smelting activity flat Base metals up, copper smelting activity flat Base metals up, copper smelting activity flat

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

Staff reporter

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%.