Strategic moves by Hyundai Steel $004020.KS are reshaping the balance of power in the global steel market. The South Korean industry leader, with its announcement of a massive $6 billion investment in the United States, has captured the attention of not only financial markets but also top policy makers on both sides of the Pacific.
Shares of CMOC Group $603993.SS surged on Tuesday following the announcement that the Chinese mining giant will acquire Canadian mining company Lumina Gold $LUM.V for approximately CAD 581 million (USD 420.7 million) in an all-cash deal. This strategic acquisition is set to enhance CMOC's portfolio significantly by granting access to Lumina Gold's flagship asset, the Cangrejos gold project, located in Ecuador.
On Monday morning, gold prices continued their upward trajectory, reaching an all-time high. According to trading data, the June futures contract for gold on the New York Comex exchange exceeded the $3,400 mark per troy ounce — a historic peak in the precious metal’s market performance.
The price of gold has reached a new historical high, continuing its upward trajectory as global uncertainties intensify. On Monday, June gold futures on the Chicago Mercantile Exchange (CME) jumped by 2%, surpassing $3300 per troy ounce for the first time in history and reaching $3305.1. This surge highlights gold’s enduring role as a safe-haven asset in times of market volatility and geopolitical instability.
Recently, gold has taken center stage in the financial world, breaking new all-time records. On Tuesday, global bullion spot prices touched $3,221.70 per ounce—rising by 0.4%. The day prior, gold set an all-time high at $3,245.42. US gold futures followed suit, climbing to $3,237.60. This sustained growth in gold’s value comes against the backdrop of mounting uncertainty about US trade policy under President Trump's administration and the shifting momentum of major financial indices.
Recently, financial markets have seen an increasing interest in gold as an investment asset. Goldman Sachs Group Inc. and UBS Group AG have released their forecasts for the further rise in prices for this precious metal, emphasizing its growing role amid global economic uncertainty and increasing demand from central banks.
Recent developments in the gold market demonstrate a notable increase in the prices of this precious metal, driven by rising purchasing activity. During daily auctions, record volumes of bids were recorded, highlighting the ongoing interest from major market players despite the elevated price levels.
Recent remarks by former President Donald Trump have once again thrust the potential merger between U.S. Steel and Nippon Steel into the spotlight. These comments, made against the backdrop of robust performance by U.S. Steel under favorable U.S. tariffs, have raised new questions about the necessity and timing of the deal. This article provides an in-depth look at the current state of affairs, examines strategic considerations, and assesses the potential impacts on both companies and the broader industry.
In times of global economic instability and trade tensions, gold prices are showing impressive growth. The ongoing trade war between the US and its key partners, coupled with the weakening US dollar, has significantly influenced the price of gold. Let's explore the main factors contributing to the increase in the precious metal's value.
South Korean company LG Energy Solution recently reported a remarkable 138% increase in quarterly operating profit. This success was attributed to the state of the electric vehicle (EV) market and its collaboration with major global automakers like General Motors and Tesla. LGES continues to strengthen its position as a key player in the EV battery industry, yet the significance of tax credits under the U.S. Inflation Reduction Act has become a cornerstone of their financial success.
Thursday brought unexpected developments in the global financial market, as eight countries from the OPEC+ alliance decided to hasten their plans to increase oil production. Instead of gradually phasing out production cuts, they chose to ramp up output by 411,000 barrels per day starting in May. This decision has notably impacted oil prices, triggering a sharp decline.
In a recent statement, Italy's Minister of Industry Adolfo Urso announced that Rome plans to request the European Union to temporarily suspend rules aimed at reducing industrial emissions. This initiative reflects significant economic and political shifts that could affect major companies and financial markets across Europe.
