CAPITAL MARKETS

Markets await FOMC outcome

Positivity amid ongoing uncertainties

Staff reporter
ASX-listed lithium producer Orocobre was on the rise

ASX-listed lithium producer Orocobre was on the rise

The gold price has risen to more than US$1,307 an ounce on the spot market earlier, while the spot copper price closed higher in London.

Copper miner Freeport-McMoRan (NYSE: FCX) closed up 2.19%  yesterday in New York.

Iron ore rose to $87.90 a tonne yesterday according to MySteel as Vale revealed further production cuts in the wake of the fatal tailings dam failure at Brumadinho in January.

Vale (BZ: VALE3) shares are down 1.06% year-to-date.

Rio Tinto (LSE: RIO) rose 2.79% in London yesterday where the FTSE100 closed higher as Brexit plans look set to be delayed, with UK prime minister Theresa May likely to ask the EU for an extension this week to the March 29 deadline.

In Toronto, metals and mining stocks were weighed down yesterday by an overall 0.87% drop in the gold sector.

Among the diversified mining equities, Hudbay Minerals (TSX: HBM) rose 2.5%, bringing its year-to-date gain to 45.2%.

Metals and mining stocks were up 1.2% in Australian trade at the time of writing.

Lithium producer Orocobre (ASX: ORE) was among the bigger risers, up about 3.6% in afternoon trade on no news.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

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